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Monday, July 30, 2018
For your praise and inspirations only
WTC Accra hosts Ghana-UK Business Forum in London
Meeting Delegates
The business forum took place on July 23 and was attended by over sixty executives
World Trade Centre Accra, has ended its week-long trade mission in the UK to boost trade and investment between the two Commonwealth nations.
The business forum was attended by over sixty executives from the Ghanaian and UK public and private sectors.
There was a keynote address from H.E. Papa Owusu-Ankomah (Ghana’s High Commissioner to the UK and Ireland), informative presentations, an engaging panel discussion, and business-to-business meetings.
The business forum, held in Central London, generated high-level dialogue among government and business executives on key topics such as export and project financing, local content requirements, the movement of goods and people, and opportunities to build the capacity and scalability of the Ghanaian private sector.
The forum was attended by UK’s Department of International Trade, UK Export Finance, UK’s Department for International Development (DFID), Tullow Oil, Ghana’s National Investment Bank (NIB), SAS Finance Group, Renaizance Holdings, and Misyl Energy amongst others.
Several companies which attended the forum held additional meetings during the week to build upon initial discussions held during the forum.
The UK trade mission was led by Jane Reindorf-Attoh, Managing Director of WTC Accra, and Togbe Afede XIV, the Executive Chairman, WTC Accra, and Board Member of World Trade Centres Association (WTCA).
The delegation comprised seventeen Ghanaian business executives from various sectors seeking investment and partnership opportunities in the UK.
On Tuesday, July 24th, the delegation visited the House of Commons and met with Andrew Rosindell, MP for Romford Constituency; Laurence Robertson, MP of Twekesbury; and Adam Afriye, MP for Windsor, to seek the politicians’ assistance to help drive policies that would create an enabling environment to increase trade between Ghana and the UK.
Specific issues discussed included but were not limited to the length of time and challenges of obtaining a UK Visa and the need to increase the UK’s participation in Ghana’s finance and banking sector.
The delegation concluded their trip by visiting the London Stock Exchange (LSE) to gain an overview of the company’s Africa strategy, and held discussions on how LSE can increase its engagement with Ghana’s Stock Exchange.
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Friday, July 20, 2018
This is absolutely for your praise and inspirations only
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Monday, July 16, 2018
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GCB commits GH¢1bn to support 1D1F; 270 proposals received
Ghanacommercialbank GCB
The Ghana commercial bank, GCB has committed GH¢1 billion towards the 'One District One Factory' initiative by the government.
About 270 clients have already put in their applications awaiting review for support under the programme.
Head of SME and One District One factory of GCB, George Fuachie said the bank has signed an agreement with investment initiative, Invest In Africa, to further facilitate credit access to SMEs in Ghana.
In an exclusive interview with JoyBusiness, Mr Fuachie said, “GCB has committed a minimum of GH¢1 billion to the One District, One Factory initiative rolled up by the government and as the biggest indigenous bank the board, the management and the staff found it necessary to commit that to it.”
GCB, Invest In Africa agreement
The year-long agreement between GCB and Invest In Africa (IIA) formally makes GCB the newest partner of the initiative.
According to Mr Fuachie, joining the Invest In Africa initiative will further reinforce GCB Bank’s commitment to making a positive difference by supporting the growth of local businesses especially SMEs.
He added, “The SME’s department has existed in various shades and forms but there is now a strategic intent to it to become the core of the bank.
So it is a new journey, a journey that comes with a lot of experience but obviously, the partnership will bring to the fore the knowledge-based that Invest In Africa has based on the experience with SME’s and that partnership is what I believe would change the engagement with the SME’s.”
With over 1500 SMEs in IIA’s pool, GCB hopes to expand their customer base for a relatively improved quality base.
Currently, GCB has embarked on a five-year strategic plan and some of the key areas include an intention to expand the bank's customer base.
One of the key areas under 2018, 2022 strategic plan is the expansion SME space which is also a key of area of interest for IIA.
“Invest in Africa has a pool of SMEs clients who have been scaled up and developed up to a certain level so, their attractiveness in terms of purposes of lending is much better than the off shelve SME client”. Mr George Fuachie alluded.
He said, “there are so many challenges facing the SME sector and GCB haven learnt of these have redefined the approach to dealing with them and I believe the partnership will bring value to what we have.
Aside from lending to them, we will also provide advisory services to them because in fact some of them don’t actually need facilities but succession plan and differentiation between ownership and management.”
“A lot of these are laudable and a lot more need to be improved so the partnership will help some of these institutions in areas where we find it difficult to help them,” he said.
The partnership will also explore how SMEs shortlisted by GCB Bank for the One District One Factory (1D1F).
Being the largest indigenous financial institution in Ghana with 180+branches, the bank says IIA registered SMEs will benefit from short-to-medium term capital to enable them service tenders.
Launched in September 2014 in Ghana, IIA has registered over 1500 SMEs facilitated credit access of US$973K and tenders won valued at $97.1M.
Large companies and organizations already supporting the initiative include Tullow Ghana, MODEC, Newmont Mining, Ecobank Ghana, Societe Generale, Ghana, Guinness Ghana Breweries, Africa Development Bank (AfDB) and Multimedia
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For your praise and inspirations only
We need your expertise to fight corruption – Rawlings to Ghanaians abroad
Rawlings Guba
The former president made this call during the 2018 GUBA awards at the InterContinental Hotel London
Former President Jerry John Rawlings has urged Ghanaians living abroad to transmit the quality of discipline and prudent management of resources they acquire in the countries they reside in back to Ghana to help curb corruption in the country.
He said while Ghana has made positives strides to enhance democracy and stabilize its economy towards growth and development, it is still grappling with corruption, noting that it “is important to appreciate the fact that keeping our moral fabric as a people intact and the appropriate mindset as citizens towards corruption is key to fighting this menace.”
The former President made the call when he delivered the keynote address at the 2018 Ghana UK Based Achievement (GUBA) Awards in London on Saturday.
Flt Lt Rawlings said Ghana’s role as a hub of peace and the gateway to Africa meant the country had to contribute in diverse ways to make the continent a better place, stating; “the world can only hold us in high esteem on how much we connect to universal shared values of truth and integrity”.
The GUBA Awards’ Special Guest of Honour said he had reached a phase in life where he should be enjoying life after decades of tireless service where he will be content to see his compatriots prosper and gain access to basic amenities and to see an African continent where safety, freedom and justice is guaranteed.
“How do I experience any peace of mind when I see my fellow Africans butcher each other as has happened in countries like Sudan, Nigeria and Cameroon? How can I not feel pain and anger when innocent victims especially women and children are mindlessly killed? The former President asked.
Touching on the conflicts and violence in parts of the continent, former President Rawlings said too much wealth and power happens to be in the hands of many wrong people with some countries under the grip of unconscionable characters and their partners in the so-called developed world.
On the situation in Cameroon, he called on the United Nations and the African Union as well as French President Emmanuel Macron to investigate the reported abuse of Anglophones and to avoid the imposition of superficial solutions on the English speaking half of the country.
The former African Union High Representative to Somalia said: “Today, there are many nations around us that are saddled with unimaginable conflicts. What we need to do as a continent is to push our governments and various reputable people to stand and speak out against injustices in affected countries.”
Former President Rawlings said democracy and development that was not based on the rule of law and freedom and justice would eventually collapse as experienced in Egypt, Libya and Tunisia.
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GUBA and its Founder and Chief Executive, Dentaa Amoateng received commendation from the former President for its recognition of the diverse cultural and economic potential of Ghanaians.
He also commended GUBA for its humanitarian roles in the areas of autism and support for educational institutions in Ghana.
Former President Rawlings presented the GUBA Black Star Lifetime Achievement Award to Ashitei Hammond.
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Wednesday, July 11, 2018
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Angela Merkel to visit Ghana in August
The Chancellor of Germany, Angela Merkel, will pay a day’s working visit to Ghana in August, at the invitation of President Nana Akufo-Addo. Mr. Christoph Retzlaff, the German Ambassador to Ghana, who announced this, said Chancellor Merkel would be accompanied by the Federal Minister for Economic Cooperation and Development, Gerd MΓΌller and a high-level business delegation. He said Chancellor Merkel’s visit to Ghana is part of her three nations Africa tour; which would also take her to Nigeria and Senegal. Mr. Retzlaff, who made the disclosure on Tuesday at a press conference in Accra, said the visit to Ghana would be the first of a German Chancellor to Ghana since 2004. Mr. Retzlaff said the visit would focus on economic cooperation and on promoting investment and business in Ghana. The visit would also be an opportunity to discuss and take stock of the G20 “Compact with Africa Initiative”, launched in June 2017 in Berlin under Germany’s G20 presidency. The Ambassador said Germany was supporting Ghana through long-standing development cooperation programmes as well as a new bilateral “Investment and Reform Partnership” launched in December 2017. The cooperation brings an additional 100 million euros of German development funds to promote renewable energy and energy efficiency in Ghana, and to foster private investment into renewable energy as well as vocational training in the energy sector. Mr Retzlaff said another highlight of German-Ghanaian relations would be the “German African Business Summit (GABS)” in Accra from February 11-13, 2019. The GABS is the German signature business event in Africa. Top business and government leaders from Germany and Sub-Saharan Africa meet every two years in Africa to promote economic relations between Europe´s largest economy and the fastest growing region in the world. Up to 750 leaders, decision-makers and business representatives are expected to participate.
The GABS is organized by the Sub-Saharan Initiative of German Business (SAFRI).
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Tuesday, July 10, 2018
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Monday, July 9, 2018
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Ghana signs Railway infrastructure deal with South Africa - Ghartey reveals
Minister for Railways Development and Member of Parliament for Sekondi, Joe Ghartey, says the government of Ghana and South African have reached an agreement that will see South Africa assisting Ghana in her strategic railway development agenda.
The technical corporation agreement essentially will have South Africa providing technical support to Ghana for the purpose of developing the country’s railway network and existing railway infrastructure.
In a press briefing at the Jubilee Lounge of the Kotoka International Airport upon arrival from South Africa with President Akufo- Addo after his three-day state visit to Johannesburg, the Minister said South Africa has a fairly developed railway network in her major cities such as Johannesburg and their assistance to Ghana to develop its railway transportation system is a welcomed development.
He added that an agreement is also to be signed between Transnet SOC Limited, South Africa’s state-owned railway company and Ghana’s Railway Company Limited.
The technical corporation agreement essentially will have South Africa providing technical support to Ghana for the purpose of developing the country’s railway network and existing railway infrastructure.
In a press briefing at the Jubilee Lounge of the Kotoka International Airport upon arrival from South Africa with President Akufo- Addo after his three-day state visit to Johannesburg, the Minister said South Africa has a fairly developed railway network in her major cities such as Johannesburg and their assistance to Ghana to develop its railway transportation system is a welcomed development.
He added that an agreement is also to be signed between Transnet SOC Limited, South Africa’s state-owned railway company and Ghana’s Railway Company Limited.
The agreement will see the rehabilitation of portions of the existing railway network in the country, possible construction of new railway tracks, the supply of rolling stock such as locomotives, coaches, power vans and other vehicles used for railway, the assembly and manufacture of rolling stock and other railway machinery in Ghana, capacity building, analysis and management of railway transport and several other areas of mutual interest.
Starting Point
As a start to the agreement, the Minister indicated that the South African counterpart, “will supply Ghana with one hundred wagons that will help the country to build four trains with twenty-five wagons each per train”. The four trains would then be used to revive the Accra-Nsawam and Tarkwa-Takoradi railway services.
“Within two weeks the two countries represented by their respective railway companies will present a report on the partnership and complete negotiations to pave way for the agreement to come into force,” the Minister assured.
Starting Point
As a start to the agreement, the Minister indicated that the South African counterpart, “will supply Ghana with one hundred wagons that will help the country to build four trains with twenty-five wagons each per train”. The four trains would then be used to revive the Accra-Nsawam and Tarkwa-Takoradi railway services.
“Within two weeks the two countries represented by their respective railway companies will present a report on the partnership and complete negotiations to pave way for the agreement to come into force,” the Minister assured.
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Thursday, July 5, 2018
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Monday, July 2, 2018
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