Category: Business

The Ghana Link Network Services Limited, operators of the Integrated Customs Management System (ICUMS), has been named the Trade Facilitation Company of the Year at the Seventh Edition of the Ghana-West Africa Business Excellence Awards.

The award recognises the company’s robust implementation of the ICUMS and its impact on the trade ecosystem.

This year’s Ghana-West Africa Business Excellence Awards, endorsed by the Ghana Chamber of Commerce and Industry (GNCCI), rewarded innovative ideas that have pushed boundaries to bring together business players and recognise the achievements of local and international companies involved in various sectors.

ICUMS connects over 8,000 daily users, including freight forwarders, shippers, and numerous regulatory bodies such as the Ghana Food and Drugs Authority (FDA) and the Environmental Protection Agency (EPA), streamlining processes that were previously cumbersome and time-consuming.

The ICUMS has been pivotal in enhancing operational efficiencies at Ghana’s ports an
d borders, leading to a significant increase in the country’s revenue and improvements in doing business.

Meanwhile, Dr. Nick Danso Adjei, the Chief Executive Officer and the Executive Chairman of Ghana Link Network Services Limited, was also honoured as Ghana’s ‘Entrepreneur of the Year’ for the sixth time.

Dr. Adjei led his company to revolutionise trade facilitation in the region through the implementation of the ICUMS.

He told the media that he was thrilled to receive such recognition, as it highlights hard work and fuels their commitment to continue improving their services.

‘These awards are a testament to the dedication of our staff, who strive to provide the best services at our ports and borders,’ he said.

He indicated that his outfit has received several other awards this year, including the Trade Facilitation Technology Leadership Award, the E-Solution for Trade Excellence Award, and the Excellence in Innovation and Technology Award.

Dr. Danso Adjei stated that it was important that young ent
repreneurs and the youth of Ghana become focused, be diligent, and work hard towards achieving their goals.

Source: Ghana News Agency

The Newmont Ahafo Development Foundation (NADeF) has presented training logistics valued at GHC198,415 to 63 young people in the Newmont Ahafo South mine enclave of the Ahafo Region to undergo employable skills training.

Newmont Africa established the Foundation through a commitment made in 2006 to execute the Corporate Social Responsibility (CSR) programmes in the 10 communities around its Ahafo South Mine in the Asutifi North District and Ahafo North project in the Tano North Municipalities of the Ahafo Region.

Accordingly, the mining giant set aside one dollar of every ounce of gold produced and one per cent of the annual net profit from the Ahafo Mine operations to fund the CSR programmes at Ntotroso, Gyedu, Kenyasi Number One and Two in Asutifi North as well as Adrobaa, Techire, Afrisipakrom, Susuanso and Yamfo in Tano North.

The foundation also paid the apprenticeship fees of the ,trainees, mainly selected from Kenyase Number One, comprising 60 females and three males, to be trained in dressmaking, h
airdressing, welding and fabrication.

They received non-electric sewing machines and accessories, plastic chairs, uniforms, fabrics, assorted rollers, helmets, and personal protection equipment among other items to facilitate their trade.

Professor Yaw Ofosu-Kusi, the Board Chairman, NADeF, said the foundation had provided both academic and apprenticeship scholarships to 13,314 youths from the 10 mining communities.

Out of the number 1,403 are on apprenticeship scholarships, he stated, and expressed the hope that the human resource empowerment would make the youth self-reliant to impact positively on society.

Prof Ofosu-Kusi advised the beneficiaries to respect their masters and take their training seriously to ensure successful completion and employment.

On competition, Mrs Elizabeth Opoku-Darko, the Executive Secretary, NADeF, told the Ghana News Agency that the foundation would provide start-up capital and working tools to the deserving trainees to set up their businesses.

Nana Boakye Boateng, the An
kobeahene (sub-chief) of the Kenyasi Number One Traditional Area, acknowledged the significant contributions of the mine towards the development of the local communities.

However, he called on Newmont to do more to create jobs for the teeming unemployed youth, while urging the residents to cooperate with the mine to push for the holistic development of the communities.

Leticia Donkor, a trainee, expressed her heartfelt gratitude to Newmont and the foundation for the support and expressed the hope that more youth would benefit from the package.

Source: Ghana News Agency

Dr Jethro Wilbert Brooks Jnr, the Acting Vice-Chancellor, Regional Maritime University (RMU), says maintaining a vibrant national economy requires attention to the maritime sector.

He said stakeholders needed to coordinate and communicate in ways that promoted maritime security and governance.

Dr Brooks Jnr said this at the closing ceremony of the six-week course for the fourth session of the Maritime Affairs and Security Training, under the European Union (EU)-RMU-Support to West Africa Integrated Maritime Security (SWAIMS) project in Accra.

The training aims to build the capacity and competencies of personnel of maritime focus agencies/institutions across the West African sub-region to combat maritime crimes in the Gulf of Guinea.

This marks the successful completion of the four-year SWAIMS Project, with this training being the fourth and final cohort, dubbed: ‘Maritime Affairs and Security.’

Participants were from Ghana, Cote d’Ivoire, Niger, and Togo and drilled through a well-designed course package
.

Experts from the maritime industry, defence and security, shipping and fishing industry, academia and research institutions facilitated the training.

He said organised crimes like maritime piracy, kidnappings of crew for ransom, illegal fishing, illicit trade, and smuggling, which had been pervasive in the Gulf of Guinea, were a major obstacle to harnessing the huge resources of the maritime sector for rapid economic growth.

Dr Brooks Jnr said the Gulf of Guinea (GOG) was awash with mineral and fish resources, which provided billions of dollars to the regional economy, hence, required a safer, more secure maritime operating environment for economic growth and development.

‘With this realisation the Yaoundé Architecture for Maritime Security in the GOG signed in 2013, recognises the crucial role of international cooperation at the global, regional, sub-regional, and bilateral levels in combating piracy, armed robbery at sea, illegal fishing, smuggling and other maritime crimes,’ he said.

The decline in
piracy was partly attributable to the increased cooperation, collaboration and coordination among GOG states, capacity building of maritime professionals, support from international partners and the various initiatives launched over the years to combat maritime crimes.

‘We cannot, however, rest on our oars as we aim to further reduce the threat of piracy and other transnational organised crimes in the region because we have started to see the increase in oil theft and illegal oil bunkering in the region in 2023,’ he added.

Mr Jean-Pierre Bardoul, Programme Officer, EU Delegation, said armed robbery at sea, especially kidnapping for ransom of seafarers, were steadily on the increase, and while the challenges had not gone away, the region had, however, made progress.

‘During 2020-2021 a decrease was reported, which continued into 2021-2022, before slightly increasing again in the period 2022-2023 and 2023-2024. Despite this, the GOG is at a significantly lower level of piracy today compared to 2019 and 2020,
‘ he added.

Mr Bardoul said the gains made were due to many factors, including the partnership with the EU under the SWAIMS project, of which activities with the RMU were part.

A sustainable strategy for tackling maritime challenges included providing opportunities for learning and capacity-building for maritime professionals, he noted.

Source: Ghana News Agency

The Customs Division of the Ghana Revenue Authority (GRA) has been tasked to live up to its mandate of collecting the needed revenue, including taxes and duties, for the state to meet its developmental needs.

Dr Mohammed Amin Adam, the Minister of Finance, said that was the only way the Government would generate the required resources to meet the increasing demands for better living standards and prosperity of Ghanaians.

Leading a high-powered delegation to visit the Aflao Sector Command on Friday, he said as critical stakeholders to the Ministry’s revenue mobilisation, Customs officers must be dedicated and diligent to realise this year’s revenue target of GHS146 billion to support the country’s development needs.

‘This country cannot continue to borrow and borrow… We must look within for the potential to generate revenue that will support our development needs this year… I see you as integral part of all the efforts I have to make to succeed as a minister,’ Dr Amin Adam said. 

‘And to succeed as a minis
ter means to be able to help Ghanaians meet their demands – the development needs of our people. That the roads our people need are constructed, electricity challenges resolved…’

‘We need to mobilise resources because that will enable us to address these challenges. Therefore, I see you as partners.’

Dr Adam commended the Aflao Sector for exceeding its revenue target within the last four years and asked that the collection should continue to make the same gains for 2024.

The Aflao sector has four major stations: Akanu, Kpoglu and Ave-Havi, and one major checkpoint at Dabala Junction.

‘But we also know that revenue has not been doing well since the beginning of this year, but I do not blame you (Customs) because GRA has many divisions,’ he said.

‘Some divisions are doing well, some divisions are not doing well. But we should not get to a point where we point fingers. We should see ourselves as a whole… We fall together, we rise together. That should be the spirit to guide our relationship and our work.’

Madam Julie Essiam, the Commissioner General, GRA, said the Aflao Sector and Customs meant so much to GRA and spoke of plans to ensure staff welfare and provision of logistics to enhance revenue collection. 

She stressed the need to change the face of GRA, saying: ‘Perception is people’s reality’.

She pledged hard work to create a new image for the GRA to transition from an enforcement approach to collaboration and partnership with the taxpayer.

Brigadier General Ziblim Ayorrogo, Commissioner, Customs Division, said he expected the Aflao Sector to exceed its target to help the GRA and the sector Ministry to succeed in their revenue target.

Assistant Commissioner Joseph Allan, Aflao Sector Commander, assured that while performing its revenue mobilisation role, the sector would not lose sight of its national security responsibility, especially in this election year.

‘Hon Minister, with 2024 being an election year, we the officers are poised to play our security roles to the best of our ability in order to
have a very peaceful election.’ 

Source: Ghana News Agency

Contrary to rumours in the media, Mr Hakim Ouzzani, Managing Director, Societe Generale Ghana, says, the French bank has not announced any plans of exiting the country.

He explained that though its mother French company, Societe Generale, was implementing some global reforms in its business offerings to make it more efficient, there had not been any decision on exiting the Ghanaian market.

‘In the context of this strategy of the Group and following decisions taken on some activities over the world, in France, Africa, and elsewhere, some rumours have indeed taken root regarding SG Ghana,’ he said.

‘It’s important to mention to all our stakeholders and stakeholders that the news item being circulated in the media was not issued by the Group nor by SG Bank. We don’t want to comment further.’ Mr Ouzzani added.

He said this at the 44th Annual General Meeting of the bank, held concurrently in-person in Accra and virtually, on Wednesday, May 8.

He stated that despite the economic challenges and its attendant im
pact on the banking sector, SG Ghana recorded a 290 per cent growth over that of 2022, with a GHS424.8 million profit after tax in 2023.

Combined with the efficient management of cost and the decline in net cost of risk on sovereign facilities, the return on equity for the year consequently soared to 28 per cent from the 10 per cent presented in 2022,’ he said.

On the impact of the Domestic Debt Exchange Programme (DDEP) in 2023, the MD noted that the government’s fiscal measure had minimal impact on its profitability.

He added that the DDEP posed an indirect third-party risk (the inability of clients to repay loans due to the investment of company funds in government securities.

Mr Ouzzani acknowledged that high utility tariffs eroded purchasing power due to rates of high inflation and currency depreciation, high-interest rates, made the cost of borrowing ‘very high’ in 2023.

While lauding the profitability of the bank, some shareholders who spoke with the Ghana News Agency after the AGM called for clar
ity and definite decision from the bank about their exit from the country.

‘The performance of the bank gives us a lot of confidence because the bank is growing from strength to strength. That’s why we’re saying that what came as a rumour that they’re leaving Ghana is a source of concern to us,’ said, Mr Samson Ashong, a shareholder.

‘So, even if it’s true that they’re leaving, they should explain to us why they’re going, when and how they’re going to deal with the shareholders. We want more assurance that they’ll remain here,’ he said.

Mr Sas Goerge, president of the Association of Shareholders on the Ghana Stock Market, noted that the exit of the bank would not be a new thing because similar occurrences had happened in the country in the past.

He noted that the responses from the bank at the AGM signalled that its decision of the bank to exit Ghana ‘is not open yet,’ attributing it to secrecy conditions of banks.

He, therefore, called on the bank to provide timely information to stakeholders and shareh
olders to douse the rumours.

Source: Ghana News Agency

Fidelity Bank, the nation’s largest privately-owned bank, has handed over a newly-constructed three-unit classroom block to the Abbeykope D/A Basic School in the Ningo Prampram District in the Greater Accra Region.

The project formed part of the Bank’s Orange Impact initiative.

The support include renovation of an existing six-unit block in the school and the installation of a rainwater harvesting system.

The reconstruction and ancillary projects are expected to transform the learning environment of the pupils in the community. Key stakeholders in the community witnessed the handing-over ceremony on Tuesday.

Abbeykope D/A Basic School, according to authorities, had not been renovated since its inception in 2006.

The deplorable state of the institution, is said to have caused inconveniences for teachers and learners.

Dreamjuly Foundation, a non-governmental organisation, identified the situation and recommended the school to be selected for the Fidelity Bank Orange Impact initiative.

In a speech read on
his behalf, Mr Atta Yeboah Gyan, Deputy Managing Director of Fidelity Bank, emphasised the Bank’s commitment to ‘educational equity.’

‘We were struck by the potential of the Abbeykorpe community and the challenges they faced…Limited resources meant pupils did not have the same opportunities as others. The new classrooms and renovations aim to bridge that gap and empower students to reach their full potential,’ he said.

As part of the project, Fidelity Bank in partnership with EcoSchools, provided six recycling bins to improve sanitation.

Highlighting the project’s transformative potential, Mr. Enoch Anyingmor Teye, Headmaster of the School, expressed gratitude to Fidelity Bank and urged other well-meaning organisations to join Fidelity Bank’s efforts in enhancing educational opportunities.

Mrs. Solace Osei-Appiah, District Director of Education, commended Fidelity Bank for its commitment to proper procedures and approvals throughout the project.

Launched in 2022 as part of the Bank’s 15th anniversary cel
ebration, the Orange Impact initiative empowers 15 under-resourced schools across Ghana over a five-year period.

Through continued collaboration, investment, tailored resources, and infrastructure improvements, ‘Orange Impact’ is helping shape the future of Ghanaian youth by ensuring quality education for all.

Apart from Abbeykorpe D/A Basic School, other schools, including Nyameyekrom M/A Primary, Duose D/A Primary, Mamprobi Ebenezer 4, Okogyeasuo M/A Basic, and Fodome Kordzeto M/A Primary and JHS, have benefited from the initiative.

Source: Ghana News Agency