Justice Yonny Kulendi, a renowned Supreme Court Judge in Ghana, has challenged graduands of the Accra Business School to lead with integrity, emphasising that their actions, choices, and sacrifices must inspire others.

Delivering the keynote address at the school’s 17th congregation, Justice Kulendi stressed the importance of leadership, conviction, and accountability in shaping a future built on integrity.

Leading by Example

Justice Kulendi drew from his own experiences, highlighting the values that have anchored his career.

He emphasised that leadership is not just about titles, but about influence, which casts a light in dark places.

“People should see our actions, our choices, and our sacrifices and feel inspired to follow,” he noted.

The Power of Integrity

Integrity, Justice Kulendi argued, is essential to effective leadership. It demands transparency, clarity, and a willingness to sacrifice personal comfort or popularity when upholding what is right.

He cautioned that leadership without integrity is tantamount to undermining the very foundation of trust and confidence.

A Call to Action

Justice Kulendi’s charge to the graduands was clear: to lead with conviction, accountability, and integrity. He urged them to carry the values of excellence, resilience, and integrity instilled in them during their time at the Accra Business School into their future endeavors.

Professor Elvis Cornerstone, President of the institution, announced plans to introduce MA and PhD programmes and investments in advanced databases and software systems to aid students in their pursuit of knowledge and truth.

He stated, “An award of degree from Accra Business School is a quality product and achievement that you and your employers can have real confidence in.”

Professor Cornerstone acknowledged the support of friends, family, and benefactors who contributed to the graduates’ education. He urged the graduates to carry forward the values of excellence, integrity, and resilience instilled in them during their time at the institution.

The Accra Business School, established in 2004, has consistently emphasized the importance of ethical leadership and integrity in business.

With affiliations to reputable institutions like the Kwame Nkrumah University of Science and Technology in Ghana, Wrexham, and SETU Universities in the UK, the school has produced leaders who embody these values.

Rice farmers say they are yet to benefit from the second phase of the Planting for Food and Jobs Programme.

In an interview with JoyBusiness, the President of the Ghana Rice Inter-Professional Body (GRIB) Nana Adjei Ayeh, II bemoaned the lack of support from government, especially in the roll out of the programme.

He pointed out that although the policy has a good outlook, many rice farmers are yet to experience practical outcomes.

“We saw a very good programme, the PFJ (Planting for Food and Jobs) 2.0. I don’t know if it has been implemented. I’m a farmer, and most of my farmers haven’t seen anything from the PFJ 2.0.  We are yet to see.” he added.

He furthered that while the programme is nearing completion, farmers are still expectant of a positive outcome.

“It looks good on paper. Let’s see practically how PFJ 2.0 is going to work for the farmers, we are waiting to see.”

Nana Ayeh II made this known at a signing of a Memorandum of Understanding between the Ghana Rice Inter-Professional Body and agro-input company, Calli Ghana to assist rice farmers with support schemes.

He also called for private sector led partnerships to support local rice producers by way of input supplies, agronomic support and cheap capital.

Christmas expectation

Ahead of the Christmas season, the Ghana Rice Inter-Professional Body is confident that patronage of locally produced rice will soar.

Nana Ayeh II appealed to the public to prioritize locally produced rice over imported brands to boost the country’s local production and improve the economy.

Despite being a staple food in Ghana, the reliance on the rice imports remains very high.

Factors such as outdated farming techniques, lack of improved seeds, limited access to modern agricultural technology and insufficient irrigation systems have contributed to the predicament.

On the partnership with Calli Ghana, rice farmers are expected to receive agrochemicals, improved seeds and extension services aimed at boosting rice yields across the country.

U.S. regulators want a federal judge to break up Google to prevent the company from continuing to squash competition through its dominant search engine after a court found it had maintained an abusive monopoly over the past decade.

The proposed breakup floated in a 23-page document filed late Wednesday by the U.S. Justice Department calls for Google to sell its industry-leading Chrome web browser and impose restrictions designed to prevent its Android smartphone software from favouring its search engine.

The recommended penalties underscore how severely regulators operating under President Joe Biden believe Google should be punished following an August ruling by U.S. District Judge Amit Mehta that branded Google as a monopolist.

The Justice Department decision-makers who will inherit the case after President-elect Donald Trump takes office next year might not be as strident. 

The Washington, D.C. court hearings on Google’s punishment are scheduled to begin in April and Mehta is aiming to issue his final decision before Labor Day.

If Mehta embraces the Justice Department’s recommendations, Google will almost certainly appeal the punishments, prolonging a legal tussle that has dragged on for more than four years.

Besides seeking a Chrome spinoff and corralling of the Android software, the Justice Department wants the judge to ban Google from forging multibillion-dollar deals to lock in its dominant search engine as the default option on Apple’s iPhone and other devices.

Regulators also want Google to share data it collects from people’s queries with its rivals, giving them a better chance at competing with the tech giant.

The measures, if they are ordered, threaten to upend a business expected to generate more than $300 billion in revenue this year — a moneymaking machine that has given Google’s parent company, Alphabet Inc.

“The playing field is not level because of Google’s conduct, and Google’s quality reflects the ill-gotten gains of an advantage illegally acquired,” the Justice Department asserted in its recommendations. “The remedy must close this gap and deprive Google of these advantages.”

It’s still possible that the Justice Department could ease off attempts to break up Google, especially if Trump takes the widely expected step of replacing Jonathan Kanter, who was appointed by Biden to oversee the agency’s antitrust division.

Although the case targeting Google was originally filed during the final months of Trump’s first term in office, Kanter oversaw the high-profile trial that culminated in Mehta’s ruling against Google. Working in tandem with Federal Trade Commission Chair Lina Khan, Kanter took a get-tough stance against Big Tech that triggered other attempted crackdowns on industry powerhouses such as Apple and discouraged business deals from getting done during the past four years.

Trump recently expressed concerns that a breakup might destroy Google but didn’t elaborate on the alternative penalties he might have in mind. “What you can do without breaking it up is make sure it’s more fair,” Trump said last month. Matt Gaetz, the former Republican congressman that Trump nominated to be the next U.S. Attorney General, has previously called for the breakup of Big Tech companies.

Gaetz, a firebrand for Trump, faces a tough confirmation hearing.

This latest filing gave Kanter and his team a final chance to spell out measures that they believe are needed to restore competition in search. It comes six weeks after Justice first floated the idea of a breakup in a preliminary outline of potential penalties.

But Kanter’s proposal is already raising questions about whether regulators seek to impose controls that extend beyond the issues covered in last year’s trial, and — by extension — Mehta’s ruling.

Banning the default search deals that Google now pays more than $26 billion annually to maintain was one of the main practices that troubled Mehta in his ruling.

It’s less clear whether the judge will embrace the Justice Department’s contention that Chrome needs to be spun out of Google and Android should be unbundled from the company’s other services.

Trying to break up Google harks back to a similar punishment initially imposed on Microsoft a quarter century ago following another major antitrust trial that culminated in a federal judge deciding the software maker had illegally used his Windows operating system for PCs to stifle competition.

However, an appeals court overturned an order that would have broken up Microsoft, a precedent many experts believe will make Mehta reluctant to go down a similar road with the Google case.

The Governor of the Bank of Ghana (BoG), Dr. Ernest Addison, says the newly commissioned headquarters of the Central Bank will help enhance operational efficiency and strengthen Ghana’s standing as a leader in Africa’s financial ecosystem.

Speaking during the inauguration ceremony of the new facility on Wednesday, Dr Addison said the new headquarters ‘The Bank Square’ was a testament to the Central Bank’s dedication to investing in Ghana’s future.

“This new Head Office complex, called THE BANK SQUARE, is more than a physical structure. It is a national monument highlighting the symbolic representation of our strong commitment to the transformation of the Ghanaian economy.

It also highlights the central and pivotal role of the Bank of Ghana and how it is intertwined with the development and history of Ghana,” Dr Addison said.

He said the primary objective of the new headquarters was to streamline the bank’s activities by consolidating its multiple offices scattered across Accra.

This centralisation, he noted, is crucial for fostering better coordination, communication, and cost-effectiveness in the bank’s operations.

The facility features four key components: the Amenity Pavilion, Urban Block, The Podium, and The Tower.

Over the past 67 years in operation, the core functions of the central bank have expanded, in terms of both scope and number of functions, following the fast-changing domestic economic landscape and increasing integration with the global financial architecture.

For example, the scale of issuing and redeeming currency in the 1950s pales in comparison to the same operation in today’s economy. The number of regulated financial institutions has increased from less than five individual institutions in 1957 to over 830 institutions and across many institutional categories presently.

Dr Addison lauded Sir David Adjaye, an internationally renowned architect, for the architectural ingenuity behind the Bank Square.

“By commissioning this product of the imagination of an internationally celebrated architect, Sir David Adjaye, a proud son of Ghana, we are boldly affirming our commitment to investing in the nation’s future. His architectural firm, Adjaye Associates, has created this enduring masterpiece—one designed to withstand the test of time and serve as a beacon of Ghana’s revitalization for generations to come,” Dr. Addison remarked.

Dr. Addison emphasised that Bank Square will significantly enhance the Central Bank’s operational efficiency, sustainability, and employee wellness.

“As one of Accra’s most significant modern civic landmarks, the Bank Square is not just physical structure but also a symbol of the nation’s progress and a commitment to fostering a resilient and sustainable economic future for Ghana,” he added.

YARP Foods, one of the winners of the KIC 2024 AgriTech Challenge Pro, has officially launched its new cassava flour production facility on November 6.

The production facility, located in Akumsa Dumase, in the Bono East Region, represents a milestone for the budding agribusiness, which has been at the forefront of transforming Ghana’s cassava value chain.

With a production capacity of 1 toner per day, the facility is set to gradually meet growing demand in both local and international markets.

Speaking at the launch event Andy Donsah Yeboah, Co-Founder/CEO of YARP Foods, expressed gratitude for the journey so far.

“This milestone reflects our commitment to leveraging innovation to create sustainable solutions within the agricultural sector.

“Cassava, a staple crop in Ghana, has enormous untapped potential, and we aim to redefine its value by producing high-quality cassava flour that caters to the food and industrial sectors,”  he said.

From Idea to Impact

YARP Foods’ journey began in the 2024 AgriTech Challenge Pro, a flagship program by Kosmos Innovation Center (KIC) designed to empower entrepreneurs in the agriculture sector with the tools and skills to turn their innovative ideas into impactful businesses.  

The program is being implemented in partnership with the Mastercard Foundation. Winning the challenge provided the team with funding, mentorship, and technical support, paving the way for the realization of their ambitious goals.

“KIC is incredibly proud of what YARP Foods has achieved,” said Benjamin Gyna-Kesse, Executive Director of KIC.

“Their success is a testament to the transformative power of entrepreneurship and the potential of young agribusiness leaders to drive sustainable growth and employment opportunities in Ghana’s agriculture sector.”

Transforming the Cassava Value Chain

Cassava, a key staple in Ghana, is often underutilized despite its versatility and potential economic benefits. YARP Foods is bridging this gap by producing gluten-free cassava flour for use in baking, confectionery, and industrial applications.

The facility will also provide a reliable market for local cassava farmers, enhancing their livelihoods and promoting inclusive growth across the value chain.

“We source directly from smallholder farmers, ensuring their livelihoods,” said Andy “Our goal is not only to create a profitable business but also to make a meaningful impact on the lives of farmers and the broader community.”

“We are also creating employment opportunities for other young people within the community who work within the production facility.

YARP Foods also runs an out-grower scheme where they support farmers with farming inputs. They also organise a free training program dubbed “Dwakesee3”  ( translated from Akan as big market)  in pastry making for young people within and outside the community to boost employment and livelihood.

Driving Ghana’s Food Processing Industry Forward

YARP Foods’ new facility is poised to contribute to Ghana’s broader food processing agenda, reducing reliance on imported raw materials and promoting local production.

The company is also exploring export opportunities, which could position Ghana as a key player in the global cassava flour market.

As YARP Foods continues to grow, its success serves as an inspiration for other entrepreneurs in Ghana’s agriculture sector.

By combining innovation, sustainability, and community impact, the company is charting a path for a thriving agribusiness ecosystem in the country.

Ecobank Transnational Incorporated (ETI), parent of the leading pan-African Ecobank Group, today opened the market at the London Stock Exchange (LSE) to celebrate the successful issuance of its US$400 million Senior Unsecured Eurobond on the London Stock Exchange main market.

Jeremy Awori, CEO of Ecobank Group, said: “Our successful Notes issuance demonstrates how Ecobank is blazing the trail for sub-Saharan African financial institutions and corporates in accessing the international capital markets.

The Notes are ETI’s third issuance on the international bond markets and the first public Eurobond issuance by a financial institution in sub-Saharan Africa since 2021.

With the bond more than 2.1 times oversubscribed, the strong demand demonstrates international and African investor’s approval and trust in the progress of our Growth, Transformation and Returns Strategy.”

The Notes, which mature in October 2029, pay interest of 10.125%, payable semi-annually in arrears.

Ayo Adepoju, Chief Financial Officer of Ecobank Group commented: “We really appreciate the support and partnership from Absa, Africa Finance Corporation, African Export-Import Bank, Mashreq, and Standard Chartered Bank, who acted as Joint Lead Managers and Joint Bookrunners, and Renaissance Capital Africa, who served as the Financial Adviser for the transaction.

“We deeply value and appreciate the strong support from our Development Finance Institution partners, including the Africa Finance Corporation, Proparco, and the Eastern and Southern African Trade and Development Bank, who helped anchor the transaction.

“We also thank our bond investors for their ongoing support of ETI and look forward to continuing our engagement and working together to successfully execute our business strategy.”

ETI will use the net proceeds from the issuance of the Notes for general corporate purposes, including refinancing the US$350 million Senior Bridge-to-Bond Loan Facility entered into in March 2024.

Members of the ETI board and management attended the London Stock Exchange to celebrate the successful issuance of the bond.

President Akufo-Addo has applauded the Bank of Ghana Governor, Dr. Ernest Addison and his two deputies, Dr. Maxwell Opoku-Afari and Elsie Awadzi for prudently managing the monetary economy in the storm of economic challenges.

The President also commended the leadership of the Central Bank and the entire staff for their professionalism and dedication to work.

Speaking at the commissioning of the new headquarters of the Bank of Ghana branded the ‘The Bank Square’, the President expressed optimism that inflation will ease in the coming months as a result of prudent monetary policy and other measures implemented.

The Bank Square’s commissioning marks a broader vision of progress. It reflects Ghana’s ambitions to position itself as a regional financial powerhouse.

With facilities designed to meet international standards, the new headquarters will bolster the Central Bank’s ability to implement reforms, enhance regulatory frameworks, and attract investments.

President Akufo-Addo said the imposing architectural marvel, located in the heart of the capital, is poised to become a symbol of the nation’s economic strength and a beacon of financial innovation.

Addressing a distinguished audience, he lauded the new edifice as a testament to the Central Bank’s enduring relevance and commitment to modernising Ghana’s financial institutions.

He emphasised the historical significance of the Bank of Ghana, established in 1957 at the dawn of the country’s independence, as a custodian of Ghana’s monetary stability and economic resilience.

The journey to this momentous achievement, President Akufo-Addo revealed, was driven by the growing demands and complexities of the Central Bank’s operations over six decades.

He added that the old headquarters, while historically significant, had become inadequate, and therefore this new complex, crafted by Ghanaian architectural powerhouse GoldKey Properties under the leadership of Kwaku Bediako, signals a transformative era for the Bank of Ghana.

“This structure, built by Ghanaians for Ghanaians, stands as a landmark of pride,” the President further said.

He urged all stakeholders to draw inspiration from The Bank Square as they continue to build a stable, inclusive, and prosperous economy.

In conclusion, President Akufo-Addo expressed hope that The Bank Square would inspire future generations to strive for excellence in service to the nation.

 As the new headquarters begins its operations, it symbolizes not only the growth of Ghana’s financial sector but also the collective aspiration for a robust and resilient economy.

Partner, Assurance at Deloitte Ghana, Dr. Kwabena Situ, has urged organisations to take proactive approach to integrate sustainability- related risks into their strategies, whilst ensuring they align with their long-term goals.

According to him, this will lead to enhanced profitability and a stronger competitive position in the market.

Speaking as a panelist at the 2024 Board/CEO/CAE Governance Forum orgnanised by the Institute of Internal Auditors, Dr. Situ said the role of management in governance is equally essential in the management of sustainability related matters.

“We are currently managing specific types of risks that provide us with a certain level of profit. Sustainability-related risks and opportunities represent another layer of risk we will manage, and if handled well, they could significantly improve our current profit levels”, he mentioned.

“We have been accustomed to risks such as credit risk and financial risk. Now, we are introducing a new type of risk – the sustainability-related risk. This requires a deliberate and strategic approach because we are used to managing certain types of risks, and this shift demands careful planning”, he added.

He indicated that there are two key ways to manage and incorporate sustainability-related risks into the day-to-day business activities.

First is the governance body such as the board, a committee or an equivalent body within the organisation.

He alluded that organisations must assess the composition of their governance body because the governance body and the role of management in governance are very important.

To adapt, Dr. Situ said, companies have two options, either upskill the current members of the governance body or bring in a sustainability expert to join the team.

Secondly, the current board members can be trained to understand and engage with sustainability-related topics.

The 2024 Board/CEO/CAE Governance Forum brought together experts withing the internal audit and professional services sector.

The Producer Price Inflation (PPI) rate for October 2024 shot up by 2.5 percentage points to 33.0%.

This was from 30.5% in September 2024.

According to the Ghana Statistical Service, the month-on-month change in the PPI between September 2024 and October 2024 was 3.0%.

The PPI in the Industry sector, excluding the construction sector increased from 43.3% in September 2024 to 48.8% in October 2024.

The rate in the construction sector also increased to 31.5% in October 2024.

In the Services sector, the rate recorded the same as 12.4 percent in October 2024.

Similarly, the Mining and Quarrying (54.3%), recorded inflation rates above the national average (33.0%), while Water Supply, Sewerage and Waste Management activity recorded the lowest rate of 4.1% in October 2024.

Manufacturing Sub-Sector

In October 2024, four of the 23 major groups in the manufacturing sub-sector recorded inflation rates higher than the Sector’s average of 22.7%.

The Manufacture of motor vehicles, trailers and semi-trailers recorded the highest inflation rate of 87.7%, followed by the Manufacture of basic metals at 50.8%.

Water Supply, Sewerage, and Waste Management Sub-Sector

Waste collection, treatment, and disposal activities; materials recovery recorded an inflation rate of 7.2%. Thois indicated an increase of 0.2 percentage points over the September 2024 rate of 7.0 percent. The water collection, treatment, and supply inflation recorded the lowest inflation (2.9%) rate in October 2024.

Others

The Service producer price inflation in the Transport and Storage sub-sector increased by 0.5 percentage points from 32.0% in September 2024 to 32.5% in October 2024.

The Accommodation and Food Services sub-sector rate decreased by 2.2 percentage points from 31.8% in September 2024 to 29.6% in October 2024.

The Information and Communication sub-sector recorded an inflation rate of 8.0% for October 2024.

Total pension funds recorded a significant growth to GH¢84 billion as of the 3^rd quarter of 2024.

This is compared with GH¢61.8 billion recorded in December 2023 and GH¢46.6 billion in December 2022.

According to the National Pensions Regulatory Authority (NPRA), the Tier-2 pension fund managed by private pension firms constitutes the biggest with a share of 54%.

This is followed by the Tier-1 managed by the Social Security and National Insurance Trust with a share of 25% and Tier-3 (provident fund) with a share of 21%.

About 75% of the pension funds are invested in treasury bills, treasury notes, treasury bonds and Eurobonds and green bonds.

The NPRA hope to reduce its exposure to the Government of Ghana bonds to ensure liquidity at all times.

Meanwhile, the pensions regulator recorded an impairment loss of GH¢1.0 billion in 2023 and wrote-off GH¢101 million.

As of December 31, 2023, GH¢4.2 million has been recovered from the prosecution of recalcitrant defaulting employees.

The Governor of the Bank of Ghana (BoG) Dr. Ernest Addison has said the new head office of the central bank “The Bank Sqare” will aid in reducing costs of operations.

He explained that the new edifice located at Ridge in the Greater Accra region will play a pivotal role in streamlining the operations of the bank and promote employee wellness, efficiency and sustainability.

Speaking at the commissioning of the building, Dr. Addison emphasized that the main goal is to simplify the bank’s operations by bringing all of its offices in Accra under one roof.

“As you may be aware, the Bank of Ghana has multiple offices in the city of Accra and with a strategic plan to harmonize all these operational units at the headquarters under one roof.”

“This new head office provides us with the opportunity to better streamline our operations, improve communication, reduce cost and create the needed synergies for efficiency.” He said

The governor also stated that the move is in line with the bank’s larger modernization plan, which aims to establish the bank as a progressive organization that can adapt to the changing needs of the global financial system.

“As we step into this new chapter, I am filled with optimism that this building will remain a significant investment in our collective future as a nation”.

“This will also push the Bank towards new frontiers in central banking and demonstrate what we as a nation are capable of achieving. We remain committed to delivering on our mandate, and this new facility should enable us to do so effectively,” He added

The 22-storey building Bank Square at Ridge in Accra comprises five components namely the Amenity Pavilion, Urban Block, The Podium, Tower and Grand Pavilion.

Ranking Member on the Energy Committee of Parliament, John Jinapor, has revealed that even before the looming shutdown of three power plants by Independent Power Producers (IPPs) next week, the Electricity Company of Ghana (ECG) is already shedding a significant amount of load.

Mr Jinapor disclosed that if the government fails to address the growing debt crisis in the energy sector, ECG could be forced to shed over 700 megawatts of power, a situation he describes as potentially disastrous for the nation.

“I can tell you on authority that even before the IPPs shut down their plants, there was load shedding ongoing. There was load shedding a day before yesterday, there was load shedding yesterday, and today, based on the briefing I have had, there would be load shedding,” he said in an interview with JoyNews.

He therefore called for immediate negotiations with the IPPs to avert their planned shutdowns.

The Chamber of Independent Power Producers Ghana on Tuesday, November 19 hinted that three of its members are likely to shut down due to debts owed them.

According to the Chief Executive of IPPG, Dr. Elikplim Apetorgbor, the government has failed to honour its promises to pay the $259 million debt owed by ECG.

If this happens, it will bring to four, the number of IPPs that would have shut down since Sunon-Asogli is already down.

According to Mr Jinapor, if the issue is not resolved, it will be an albatross on the next government’s neck.

Also, the Executive Director of the Institute for Energy Security, Nana Amoasi, says there is a possibility of heightened outages.

He claimed that the government is currently importing power from neighbouring Cote D’Ivoire to complement the country’s capacity.

He questioned why the government is not incentivizing the power plants to come onstream to keep on producing power.

“Since the last two months, the government has made attempts and has been importing power from Cote D’Ivoire in critical times. If you are comfortable importing and probably paying later for it, why aren’t you willing to get these other plants online by giving them something and engaging them?” he asked.

The Provost of the Kwame Nkrumah University of Science and Technology College of Agriculture and Natural Resources (CANR), Professor Dadson Awunyo-Vitor, has urged the newly graduated students to continually refine their skills as the world around them rapidly evolves.

During his speech at the 58th Congregation Ceremony, he emphasized the importance of adapting to the ever-changing demands of the modern world, encouraging graduates to stay ahead of emerging trends and challenges in their fields.

“As the world continues to evolve, and Artificial Intelligence makes its roads in all disciplines, I will urge you to continue to build on your skills and knowledge so you can continue to remain relevant in the discipline you choose to operate. Make use of your skills to solve societal problems, do not put money ahead of humanity, and do what you love, and the money will follow,”.

The Provost highlighted the importance of applying the knowledge and experiences gained over the past four years at the university.

He stressed that the education they have received should not only serve their personal ambitions but also be used as a tool for making a positive impact on their communities.

“I urge you to use the experiences and insights gained over your four years at the university to create a positive and lasting impact on those around you. Be the catalyst for change you wish to see in the world and commit to making a meaningful difference in the lives of others,” he said.

The Provost commended the graduating students for their determination and resilience throughout their academic journey.

He expressed his sincere gratitude to the faculty members and guardians for their tireless efforts in shaping and guiding the students, emphasizing the vital role they played in the students’ success.

“I wish to thank our gallant graduates and all other students for their cooperation during the past year. We appreciate and thank all parents, guardians and benefactors of our graduates.
“If our graduates are standing tall today, we know they are doing so on your sweat and toils. Your unflinching support has propelled them to this great achievement. To our faculty, staff, partners, and supporters, thank you for your immense dedication and contributions,” he said.

The Provost also took the opportunity to celebrate the college’s accomplishments over the past year, including groundbreaking research projects, partnerships with industry leaders, and contributions to local and global agricultural initiatives.

He highlighted the groundbreaking research projects undertaken by both faculty and students, which have contributed to advancing knowledge in key areas of agriculture, sustainability, and environmental management.

First cohort of BSc Packaging Technology graduates

The College of Agriculture and Natural Resources also graduated its first batch of 51 BSc Packaging Technology students.

The graduating students specialized in diverse fields within the discipline, including Food Packaging, Healthcare Packaging, Packaging Design and Graphics, and Packaging Value Chain Management.

Established in 2020 with an enrolment now exceeding 500 students, the department made a breakthrough on the International stage at a competition held by the World Packaging Organisation for Packaging Students in Bangkok, Thailand.

The College graduated a total of 1,393 undergraduates comprising 927 males and 466 females.

Laurent Koku Sessi of the Agriculture Economics class of 2024 emerged the best graduating student at with Cumulative Weighted Average (CWA) of 82.14.

President Akufo-Addo has stated that the new Bank of Ghana (BoG) head office known as the “The Bank Square” will further emphasize the country’s quest to achieve economic stability through its monetary policies.

The 22 storey building Bank Square at Ridge in Accra comprises four components namely the Amenity Pavilion, Urban Block, The Podium and the Tower.

Speaking at commissioning, President Akufo-Addo said the edifice shows progress in the country’s economic indicators.

“And as we stand here today, we are not only celebrating a physical structure of this imposing complex, we are also acknowledging the progress of our economy, which this edifice symbolize”.

He buttress his argument that data released by the BoG shows economic recovery, a sign of growth.

“Recent data from the Bank of Ghana paints a picture of resilience and promise. Ghana’s economy is on a recovery trajectory”, he said.

“The provisional GDP growth of 6.9% recorded in the second quarter of 2024 driven by robust performances across all sectors. Non-Oil GDP growth of 7%, a test to the dynamism of our economy”, he added.

President Akufo-Addo pointed out that the sharp drop of inflation from 54.1 percent in December 2022 to 22.1 percent in October 2024 shows the efficacy of the Monetary Policy tools.

“There is every indication that the downward trend of inflation will continue. Evidence in the reducing prices of foodstuff and petroleum prices. There is a sense of optimism for the future”, he said.

On his part, the Governor of the BoG, Dr Ernest Addison said the new Bank Square will play a pivotal role in streamlining the operations of the central bank and promote employee wellness, efficiency and sustainability.

He stated that The Bank Square was designed with the future in mind and stands as one of the most important modern civic landmarks in the city of Accra and the country.

He assured that the building will play a pivotal role in shaping Ghana’s identity as leading force in Africa’s financial ecosystem, symbolizing the country’s growing influence as an economic powerhouse on the world stage.

“By commissioning this product of the imagination of an internationally celebrated architect, Sir David Adjaye, a proud son of Ghana, we are boldly affirming our commitment to investing in the nation’s future. His architectural firm, Adjaye Associates, has created this enduring masterpiece—one designed to withstand the test of time and serve as a beacon of Ghana’s revitalization for generations to come”, he said.

Economist and Professor of Finance at the University of Ghana, Godfred Bokpin, says how the country manages its affairs, particularly the transition period will be crucial for growth or further economic decline.

According to Prof Bokpin, the new administration will face difficult challenges regarding government formation during the transition period from January to March 2025, a period he described as “very critical” for Ghana’s success.

“The first three months will be very critical, and that is also the transition period. How they manage the transition will be crucial,” he maintained, explaining that this is a period Ghana has not managed too well in recent instances.

Ghana is set to go to the polls on 7th December this year to elect members of parliament and a president to form the seventh government of the Fourth Republic.

“Since 1992, whenever there has been a regime change, chaos takes over, and that doesn’t help improve the investment climate. We need to manage the transition efficiently and smoothly, regardless of which party wins the election,” he added, saying there have been too many instances since Ghana transitioned to democracy where the manner of transition management has not helped the country sufficiently.

Read also: The next government will face significant challenges – Prof Bokpin predicts

Speaking on Joy FM’s Super Morning Show on Wednesday, November 20, Prof. Bokpin further emphasised that the future government should prioritise agriculture to improve the country’s fortunes.

He explained that if the agricultural sector receives proper attention, it will not only ensure food security but create jobs for citizens and help stabilise the cost of living.

He counselled that effective leadership is critical in securing Ghana’s fortunes and that must be exhibited by the next administration. “We need to ask ourselves where do we start from, it is the leadership, effective leadership” he said.

Prof. Bokpin also stressed that inflation issues must also be tackled as they have a high tendency of improving on the cost of living.

“If you are able to bring down food prices, inflation down significantly, you will actually be creating a direct relief for Ghanaians”, he noted.

Vice President and flagbearer of the New Patriotic Party (NPP), Dr. Mahamudu Bawumia, will on Friday November 22, 2024, commission the Walewale Water Melon Factory in Walewale, in the North East Region.

Dr. Bawumia cut sod for the commencement of construction in 2019, and with all fittings and machinery fixed, the factory is now ready for commissioning.

The Walewale Watermelon Factory, a subsidiary of Champion Foods and Beverages Limited, a wholly Ghanaian-owned company, is part of the NPP Government’s flagship 1D1F industrialisation projects, and it is the latest one to be completed in the northern part of the country, with many others in operation nationwide.

The factory is expected to produce about 10 metric tonnes of watermelon and various juice beverages per hour when it begins operations.

With Walewale and its surrounding towns known for its richness in water melon, over 3,000 peasant farmers are expected to benefit from the operations of the factory, which will curb post-harvest losses and boost their income.

Also, over 400 people are expected to be directly employed in various capacities by the factory, which will offer young people more opportunities.

…And Walewale Central Mosque too

Dr. Mahamudu Bawumia will on the same Friday November 22, commission the Walewale Central Mosque in Walewale.

The new mosque, facilitated by Dr. Bawumia who hails from the town, is fitted with modern facilities for both men and women sections, as well as offices for the Imam.

Walewale has a huge Muslim population and the town’s old mosque has over the past years been unable to accommodate the population.

The magnificent mosque, construction of which started a few years ago, has been expanded to provide enough space for the town’s growing population.

The commissioning of the mosque is expected to coincide with the congregational Friday (Jummah) prayers in the afternoon.

Traditional rulers, Imams as well as the Walewale community and its surroundings, are expected to attend.

Vice President Bawumia has over the years extended support to the Zongo and Muslim community in various forms, including personally funding the construction and renovation of mosques and schools across the country.

Even though a Muslim, Dr. Bawumia has also notably extended strong support in various forms, including personal contributions towards building and renovation of chapels and schools, and other programmes of the Christian community.

Government is clamping down on private pension fund managers who want to invest in offshore assets on concerns it could worsen pressure on its cedi currency, three industry sources told Reuters.

After pension reforms in 2010, workers’ retirement contributions in the world’s number two cocoa producer enjoyed strong growth, buoyed by a tiered scheme that allows private firms to manage some contributions.

Assets under management by the pension fund industry were GH¢78.2 billion ($4.93 billion) in June, of which over 73% were managed by 39 private fund management firms.

Ghana’s state-run pension fund handles tier one contributions towards employees’ monthly retirement benefits, which are mandatory, while private firms manage tiers two and three – mandatory and voluntary contributions respectively – for lump-sum payment at or before retirement.

The majority of contributions are invested in Ghanaian assets, including Ghana government Eurobonds.

However, private fund managers have been eager to explore offshore investment opportunities following the restructuring of 31 billion cedis of their holdings under a local debt rework.

Ghanaian laws permit private fund managers to invest up to 5% of total assets abroad, approximately 2.8 billion of current assets under management, though firms and authorities differ on the necessity of prior approval.

Some fund managers invested in offshore assets earlier this year, the sources, two in the private pension firms and one at the finance ministry said, but were stopped by the regulator, the National Pensions Regulatory Authority (NPRA).

“They (NPRA) threatened to sanction us but we didn’t find any basis in law,” one of the sources at a fund management company told Reuters.

“We have not exited but we can’t invest more (offshore). It’s a very strange development,” said the source who asked not to be named, adding that they had $5 million in offshore assets.

John Kwaning Mbroh, head of NPRA, told Reuters that “there’s no resistance” to investing pension assets offshore but the regulator needed approval from the government before signing off.

Mbroh said discussions were taking place to streamline the rules and clarify how to value offshore investments for contributors and fund managers, although he did not know when they would conclude.

‘PROTECTING LIQUIDITY’

Ghana is concluding a challenging debt-restructuring process under the G20’s Common Framework initiative, having defaulted on most of its $30 billion international debt in 2022.

Despite Ghana’s economic recovery, the cedi currency has depreciated 25% against the U.S. dollar year-to-date, having already fallen around 17% in 2023.

The source at the finance ministry, who also requested anonymity, said the ministry was concerned about the need to “balance the effects” of investing pension funds abroad on domestic liquidity and value appreciation to fund managers.

“The ministry won’t say ‘no’ but it’s about how do we protect the economy, the liquidity,” the source said.

Private pension management firms in Ghana argue that authorities are overly cautious, pointing out that local mutual funds and African pension funds invest offshore without similar concerns.

They contend the current policy, given high inflation and cedi depreciation, limits value creation and mutes gains.

They also say it is contradictory to allow foreign pension funds to invest in Ghana’s market while preventing local funds from investing abroad.

“The world over, pension funds chase value but they want us to chase inflation,” an executive of one of the top five fund managers said, adding that investing 5% of their assets abroad doesn’t even move the needle.

The Asian African Consortium (AAC), a subsidiary of the Jospong Group, has unveiled its latest innovation, Jospong Rice, marking a major milestone in Ghana’s agricultural sector.

Speaking at the launch during Agrifest 2024 in Accra, themed “Building Climate-Resilient Agriculture for Sustainable Food Security,” the Minister of Food and Agriculture, Bryan Acheampong, endorsed the product, describing it as “Authentic Ghanaian rice.”

Jospong Rice is locally grown and processed to meet international quality standards, delivering a nutritious and flavorful experience to consumers.

This initiative underscores AAC’s commitment to supporting local farmers and strengthening Ghana’s economy.

The product also addresses Ghana’s heavy reliance on imported rice, which costs the nation over GH¢6.8 billion (approximately $560 million) annually.

Through Jospong Rice, AAC seeks to align with the government’s import substitution agenda to enhance food security and bolster the local economy.

“With Jospong Rice, AAC is taking a significant step towards ensuring Ghana’s food future. By supporting local agriculture and promoting sustainable practices, AAC is helping to build a more resilient and food-secure Ghana,” noted Mrs. Adelaide Agyepong, the CEO of AAC.

At Agrifest 2024, AAC highlighted its innovative approach to sustainable food security through a comprehensive showcase of modern agricultural equipment and mechanization services.

The display attracted keen interest from stakeholders, including agrochemical suppliers, financial institutions, and government agencies, fostering partnerships to strengthen the agricultural sector.

AAC is making significant strides to scale up Ghana’s rice industry by investing in high-quality seeds, modern production technologies, and training for smallholder farmers.

The initiative aims to replace increasing rice imports, addressing Ghana’s rising consumption, which has nearly tripled over the past decade to an average of 45 kilograms per person annually.

In 2023, AAC took a bold step by partnering with key players in the rice industry from Thailand and Ghana to develop an integrated rice farming project.

This collaboration aligns with the government’s goal of boosting the economy through enhanced local production.

Through Jospong Rice, AAC is not only setting new standards for locally produced rice but also contributing to the vision of a food-secure Ghana.

The Chief Executive of the National Petroleum Authority (NPA), Dr Mustapha Abdul-Hamid, has inaugurated a call centre to improve the Authority’s efficiency and ensure timely handling of customer complaints and inquiries.

The newly commissioned call centre, managed by the Consumer Services Unit under the Corporate Affairs Directorate, features ten agent lines and software portals, including a supervisor’s portal.

Customers can now directly contact the centre for assistance with complaints or inquiries.

Call centre agents will forward received complaints and inquiries to the relevant technical directorates for investigation and feedback, ensuring a streamlined process for addressing consumer concerns.

Speaking at the commissioning ceremony on Monday, Dr Abdul-Hamid explained that while the Consumer Services Unit already had officers receiving complaints and inquiries, the call centre represents a significant upgrade.

He stated its importance in providing rapid responses and strengthening the NPA’s interaction with the public.

“This initiative assures our customers of swift responses to their concerns, and we hope it will deepen our interaction with the public,” he said.

Dr. Abdul-Hamid also urged the call centre agents to remain alert and efficient in relaying issues to the appropriate departments.

He cautioned against situations where customers might bypass regulatory institutions to air grievances through radio stations instead.

The Director of Corporate Affairs at the NPA, Maria Edith Oquaye, highlighted the extensive training undergone by consumer services officers. She noted that the training was tailored to prepare the agents for delivering efficient service.

“We are committed to ensuring that our customers receive quality service,” Mrs Oquaye assured, expressing confidence in the competence of the call centre agents.

The new call centre is expected to significantly enhance the NPA’s engagement with its customers and ensure prompt resolution of issues.

Google has said it would harm consumers and businesses if it is forced to sell Chrome, the world’s most popular web browser.

The US Department of Justice (DOJ) will propose the measure to a judge on Wednesday, Bloomberg has reported.

Judge Amit Mehta ruled Google operates an online search monopoly in August, and has been considering what remedies or penalties to impose.

The DOJ has not commented on the report – but Google has made clear it is a proposal it opposes.

“The DOJ continues to push a radical agenda that goes far beyond the legal issues in this case,” said Google executive Lee-Anne Mulholland in a statement.

Google will also reportedly be asked to establish new measures around its artificial intelligence, Android operating system and use of data.

“The government putting its thumb on the scale in these ways would harm consumers, developers and American technological leadership at precisely the moment it is most needed,” Ms Mulholland added.

Chrome is the most used browser worldwide – with web traffic tracker Similarweb placing its global market share at 64.61% in October.

Meanwhile, Google search corners an almost 90% share of the global search engine market as of October, according to Statcounter.

It is the default engine in Chrome as well as on many smartphone browsers, including Safari on iPhones.

Judge Mehta said in his ruling in August that the default search engine was “extremely valuable real estate” for Google.

“Even if a new entrant were positioned from a quality standpoint to bid for the default when an agreement expires, such a firm could compete only if it were prepared to pay partners upwards of billions of dollars in revenue share,” he wrote.

The DOJ had been expected to provide its final proposed remedies to the court by Wednesday.

It said in an October filing documenting initial proposals it would be considering seeking a break-up of Google.

Potential remedies “that would prevent Google from using products such as Chrome, Play [its app store], and Android to advantage Google search and Google search-related products” were among its considerations, it said then.

‘Splitting off’

Google has previously denied operating a monopoly in online search.

In response to the DOJ’s filing in October, Google said “splitting off” parts of its business like Chrome or Android would “break them”.

“Breaking them off would change their business models, raise the cost of devices, and undermine Android and Google Play in their robust competition with Apple’s iPhone and App Store,” the company said.

It also said it would make it harder to keep Chrome secure.

Revenues from Google’s search and advertising businesses rose by 10% to $65.9bn, according to the company’s latest quarterly results.

Chief executive Sundar Pichai said the company’s AI search tools were now being accessed by millions of users.

Investors have been keeping a close eye on Google’s share price on Tuesday, following reports of the DOJ’s proposed remedies.

PET stands for Political, Economic, and Technological factors, the three key external forces that shape a business environment. In today’s rapidly evolving global landscape, understanding the interplay of political, economic, and technological factors is essential for comprehending the complexities that shape our world. These dimensions are deeply interconnected, influencing each other in ways that can either propel or hinder societal progress. It is always helpful to analyse and delve into the nuances of these factors, exploring their current states, interrelations, and potential futures.

By systematically analysing each of these factors, businesses can gain valuable insights into potential opportunities, threats, and trends that might impact their performance. This comprehensive understanding empowers us to:

Make informed strategic decisions: A PET analysis provides a robust foundation for developing long-term business strategies, optimising product development, and identifying the best course of action for market expansion.

Proactively manage risks and seize opportunities: By anticipating potential disruptions from political instability, economic downturns, or technological advancements, businesses can mitigate threats and capitalise on emerging opportunities to gain a competitive edge.

Conduct effective market research: PET analysis is a springboard for in-depth market research. It provides context for understanding consumer behaviour, competitor landscape, and overall market trends, ultimately informing more intelligent resource allocation and marketing strategies.

The PET Framework

Political Factors in Business Operations

The political landscape significantly influences business operations, affecting everything from regulatory compliance to strategic planning. One of the primary considerations under this umbrella is government policies. Regulations on taxation, labour laws, environmental standards, and trade policies can dramatically impact a business’s cost structure, market access, and overall profitability. For instance, changes in corporate tax rates can alter a company’s net income, while stringent environmental regulations may necessitate additional investments in sustainable practices. Businesses must stay informed about potential policy shifts and upcoming changes to align their strategies accordingly. This awareness is particularly crucial for industries heavily regulated by government policies, such as finance, healthcare, and energy (Grant Thornton, 2023).

Political stability is another critical factor. Environments characterised by unrest, corruption, or frequent governmental changes can create significant uncertainty, which in turn can hinder business growth. Companies operating in such volatile contexts may need to adopt robust risk mitigation strategies, such as diversifying their operations across multiple regions or investing in comprehensive insurance plans. The World Bank (2021) notes that political instability can deter foreign investment and disrupt supply chains, leading to increased operational costs and decreased market confidence.

International relations also play a pivotal role. Trade agreements, sanctions, and geopolitical tensions can influence the availability of resources, market access, and the overall business climate. For businesses with a global footprint, understanding these dynamics is essential for making informed decisions about international expansion or sourcing. For example, trade agreements can open new markets and reduce tariffs, enhancing a company’s competitive edge. Conversely, geopolitical tensions or sanctions can restrict market access and complicate supply chains. The Council on Foreign Relations (2022) highlights that geopolitical risks are increasingly shaping global business strategies, emphasising the need for companies to incorporate geopolitical analysis into their planning processes.

Political factors are a cornerstone of the external environment that businesses must navigate. From understanding and anticipating government policy changes to assessing the stability of the operating environment and analysing international relations, these elements collectively influence strategic decisions and operational outcomes. By staying attuned to the political landscape, businesses can better prepare for risks and capitalise on opportunities.

Economic Factors Influencing Business Performance

The broader economic environment plays a pivotal role in shaping business performance, requiring companies to remain vigilant and adaptable to various economic conditions.

Economic Growth

Economic growth in Ghana plays a crucial role in shaping business performance by influencing consumer demand and spending power. When the economy is robust, with rising disposable incomes, consumers are more likely to increase their spending, leading to higher sales and revenues for businesses. This dynamic was evident in Ghana’s recovery period following the 2008 global financial crisis. As the economy rebounded, consumer spending surged, driving growth across various sectors, including retail, manufacturing, and services (Organisation for Economic Co-operation and Development [OECD], 2017).

Conversely, during economic downturns, such as the one induced by the COVID-19 pandemic, consumer spending declines significantly. This downturn in consumer activity results in reduced sales and potential market stagnation for businesses. The COVID-19 pandemic severely impacted Ghana’s economy, causing disruptions across many industries, from tourism to agriculture. Businesses faced declining revenues as consumer confidence waned and spending power diminished (International Monetary Fund [IMF], 2021).

To navigate these economic fluctuations, businesses in Ghana need to adopt adaptive strategies. During economic downturns, diversifying product lines can help mitigate risks by reaching new market segments. For instance, companies that traditionally focused on non-essential goods might pivot to essential goods and services to maintain revenue streams. Additionally, cutting operational costs through efficiency improvements and strategic downsizing can help businesses weather periods of reduced consumer spending.

Inflation

Rising inflation in Ghana can increase production costs, which in turn can squeeze profit margins if businesses cannot pass these costs onto consumers. For instance, the inflation spike in Ghana during 2021-2022 was primarily driven by supply chain disruptions and rising energy prices. These disruptions, exacerbated by global factors and domestic challenges, forced many businesses to adjust their pricing strategies and manage operational efficiencies to cope with higher costs (Bank of Ghana, 2022).

In such a context, businesses must employ various strategies to mitigate the impact of inflation. These strategies may include improving operational efficiencies, renegotiating supplier contracts, and finding cost-effective alternatives for raw materials. Additionally, businesses might explore adjusting their product offerings to focus on higher-margin products or services that can better absorb increased costs.

Interest Rates

Interest rate fluctuations in Ghana also profoundly impact businesses’ access to capital. The Bank of Ghana often adjusts interest rates to control inflation and stabilise the economy. For example, higher interest rates, implemented to curb rising inflation, can lead to increased borrowing costs for businesses. This situation makes it more expensive for companies to finance their operations and investment projects, potentially slowing down expansion plans and new ventures (Ghana Statistical Service, 2021).

Monitoring interest rate trends is crucial for Ghanaian businesses. Higher borrowing costs may necessitate reevaluating investment priorities, focusing on projects with the highest potential returns or those critical for maintaining competitive advantage. Additionally, businesses may need to enhance their financial planning and cash flow management to ensure they can navigate periods of higher interest rates without compromising their operational stability.

Exchange Rates

In the Ghanaian economy setup, exchange rate fluctuations significantly impact businesses engaged in international trade. When the local currency strengthens against foreign currencies, the cost of exports rises, rendering Ghanaian goods less competitive in global markets. Conversely, a weaker local currency makes imports more expensive, increasing costs for businesses reliant on imported materials and goods. This dynamic directly affects the profitability and competitiveness of Ghanaian enterprises operating in the international arena.

For instance, during the Brexit transition period, notable exchange rate volatility had profound implications for businesses, altering the costs and pricing strategies for both imports and exports in the UK (Bank of England, 2020). Similarly, in the Ghanaian context, fluctuations in the exchange rate, particularly against major trading partners such as China and the European Union, can significantly impact the bottom line of businesses engaged in cross-border trade.

Companies in Ghana must develop robust strategies, including currency hedging, to mitigate the risks associated with exchange rate fluctuations. Currency hedging involves employing financial instruments such as forward contracts or options to offset potential losses resulting from adverse currency movements. By hedging their currency exposure, Ghanaian businesses can stabilise their financial performance and mitigate the impacts of exchange rate volatility on their operations and profitability (World Trade Organisation [WTO], 2019).

Exchange rate fluctuations represent a critical factor that businesses engaged in international trade must navigate effectively to maintain competitiveness and financial stability. By implementing prudent risk management strategies such as currency hedging, businesses can mitigate the adverse impacts of exchange rate volatility and sustain their operations in the global marketplace.

Consumer Confidence and Spending Patterns

Consumer confidence plays a vital role in driving spending behaviour and shaping business performance. Similar to other economies, consumer confidence in Ghana reflects optimism about the overall economic conditions and personal financial situations of individuals. When consumer confidence is high, Ghanaians are more inclined to spend on goods and services, boosting revenues for businesses across various sectors.

For instance, during periods of high consumer confidence, such as when the economy is stable and economic indicators are favourable, Ghanaians are more likely to make discretionary purchases and invest in big-ticket items like electronics, automobiles, and real estate. This increased spending stimulates economic activity and contributes to the growth of businesses, particularly in the retail, manufacturing, and service sectors.

Conversely, when consumer confidence declines due to factors such as economic uncertainty, inflationary pressures, or political instability, Ghanaians tend to tighten their belts and cut back on non-essential purchases. This decrease in consumer spending negatively impacts businesses, leading to reduced sales volumes, lower revenues, and potentially declining profitability. Understanding and tracking consumer sentiment is crucial for businesses operating in the Ghanaian market.

By monitoring consumer confidence indicators and trends, businesses can gain insights into the prevailing economic conditions and anticipate changes in consumer behaviour. With this information, businesses can tailor their product offerings, pricing strategies, and marketing campaigns to align with consumer preferences and spending patterns, optimising sales and enhancing customer engagement.

To achieve and maintain success, businesses must navigate complex economic factors, such as growth, inflation, interest rates, exchange rates, and consumer confidence. By staying informed and adaptable, companies can mitigate risks and capitalise on opportunities within Ghana’s ever-changing economic landscape.

Technological Factors

Technological factors are paramount in shaping the contemporary business landscape, influencing strategy formulation and competitive positioning. The rapid pace of technological advancements introduces both opportunities and challenges for businesses, necessitating a proactive approach to adaptation and innovation. Emerging technologies, such as artificial intelligence (AI), blockchain, and the Internet of Things (IoT), have the potential to disrupt traditional industries, create new market opportunities, and revolutionise operational processes (World Economic Forum, 2020). To remain competitive, businesses must embrace a culture of innovation and agility, continuously assessing emerging technologies and their potential impact on their respective industries.

Automation and robotics represent another significant technological trend that is reshaping business operations. While automation promises increased efficiency and productivity, it also raises concerns about job displacement and workforce transformation. Businesses must carefully consider the implications of automation on their workforce dynamics and develop strategies for reskilling or upskilling employees to adapt to evolving job roles (International Labour Organisation, 2019). Moreover, fostering a culture of inclusivity and collaboration can help mitigate resistance to technological change and promote employee engagement in the adoption process.

The quality and reliability of information technology (IT) infrastructure are critical for businesses to thrive in the digital age. Robust IT infrastructure enables seamless communication, data management, and customer interactions, enhancing operational efficiency and facilitating innovation (Gartner, 2021). Businesses need to invest strategically in IT infrastructure, ensuring scalability, security, and compliance with regulatory standards. Moreover, leveraging cloud computing and data analytics capabilities can unlock valuable insights and drive informed decision-making, enabling businesses to gain a competitive edge in rapidly evolving markets.

Intellectual property rights (IPR) protection is another essential consideration for businesses seeking to safeguard their innovations and maintain a competitive advantage. By securing patents, trademarks, and copyrights, businesses can protect their proprietary technologies, brands, and creative works from unauthorised use or infringement (World Intellectual Property Organisation, 2020). Understanding the legal frameworks governing IPR and implementing robust strategies for intellectual property management can mitigate risks and foster innovation ecosystems conducive to sustained growth and competitiveness.

Technological factors profoundly influence the business environment, shaping strategies, operations, and competitive dynamics. By embracing innovation, investing in IT infrastructure, and safeguarding intellectual property rights, businesses can navigate technological disruptions effectively and capitalise on emerging opportunities in an increasingly digital world.

Interconnections and Future Trends

The interconnections between political, economic, and technological factors are becoming more pronounced. Political decisions influence economic policies, which in turn affect technological development and adoption. Conversely, technological advancements can reshape economic landscapes and alter political dynamics. Many connections can be made between political, economic, and technological factors.

Climate Change and Sustainability

Climate change is a critical issue that exemplifies the interplay of PET factors. Political will and international cooperation are crucial in implementing effective climate policies. Economic incentives, such as carbon pricing and green investments, are necessary to drive the transition to sustainable energy sources. Technological innovations, such as advancements in renewable energy and carbon capture, are essential in mitigating the impacts of climate change.

The transition to a green economy also presents economic opportunities, creating jobs in renewable energy sectors and promoting sustainable development. However, this transition must be managed carefully to ensure that it is inclusive and equitable and addresses the needs of vulnerable populations and regions.

Global Health and Pandemics

The COVID-19 pandemic underscored the interconnectedness of our world and the importance of robust health systems and international cooperation. Political leadership and governance play critical roles in pandemic response, influencing the effectiveness of public health measures and vaccination campaigns. Economic resources are necessary to fund healthcare infrastructure and support economic recovery efforts. Technological advancements, including vaccine development and digital health technologies, are crucial in managing health crises.

Future pandemics will likely pose similar challenges, highlighting the need for resilient health systems and coordinated global responses. Investments in healthcare, research, and technology are essential in preparing for and mitigating the impacts of future health emergencies.

Conducting a PET Analysis: A Practical Guide

So, how can businesses leverage the power of PET analysis? Here’s a step-by-step approach:

Data Collection: Data Collection is the foundational step in understanding the multifaceted landscape of political, economic, and technological (PET) factors influencing business operations. Reliable information is essential, and businesses must gather data from diverse and credible sources such as government reports, economic data repositories, industry publications, technological forecasts and other stakeholders. Leveraging online databases, industry associations, and research firms can provide access to comprehensive and up-to-date information, enabling businesses to gain insights into the prevailing conditions within their operating environment.

Analysis: Analysis follows data collection, involving meticulously examining the gathered information to discern patterns, trends, and potential implications for the business. This analytical process entails identifying specific regulations, economic trends, technological advancements, and other pertinent factors that directly or indirectly impact business operations. By delving into the data and scrutinising its nuances, businesses can better understand how each factor interacts and influences their strategic decisions and outcomes.

Interpretation: Interpretation is the culmination of the data collection and analysis process, where businesses synthesise the insights gleaned from political, economic, and technological factors to discern actionable opportunities, threats, and emerging trends. This interpretative phase is the heart of strategic decision-making, as it enables businesses to formulate informed strategies and responses to navigate the complexities of the operating environment. By identifying potential growth opportunities, mitigating threats, and capitalising on emerging trends, businesses can position themselves for sustainable success in a dynamic and evolving landscape.

PET

The analysis of political, economic, and technological factors reveals a complex and interconnected landscape that shapes our world. Understanding these factors and their interplay is essential for navigating the challenges and opportunities of the 21st century. As we move forward, fostering international cooperation, promoting inclusive and sustainable growth, and leveraging technological innovations will be key to addressing global challenges and building a prosperous future.

By examining the nuances of these factors and their interrelations, we can develop more informed and effective policies that enhance global stability, economic prosperity, and technological progress. Our ability to understand and harness the power of PET (political, economic, and technological) dynamics in an increasingly interconnected world will shape the future.

President Akufo-Addo has expressed confidence in resolving Ghana’s intermittent power supply challenges, commonly referred to as “dumsor.”

Speaking at the commissioning of a 515-megawatt power plant under the $1.2 billion Ghana Bridge Power Project at Kpone near Tema on Tuesday, November 19, the President assured Ghanaians that past power crises would not recur.

The project, owned by US-based Endeavor Energy, will supply power to the Electricity Company of Ghana under a 25-year agreement.

• Read also: Sunon Asogli Power shuts down due to $259m debt owed by ECG

Reflecting on the country’s energy challenges between 2012 and 2016 during the presidency of John Mahama, President Akufo-Addo acknowledged the hardships caused by power outages and emphasized his administration’s commitment to ensuring a stable energy supply.

He affirmed that his government’s investments over the last eight years have fortified Ghana’s energy infrastructure to prevent a recurrence of such disruptions.

“Without a dependable source of electricity, industries cannot thrive, schools cannot prepare the leaders of tomorrow, and healthcare facilities cannot deliver the care citizens deserve.

“All of us remember the unfortunate, difficult periods of dumsor between 2012 and 2016 under the presidency of the perennial NDC presidential candidate John Dramani Mahama, when systematic power outages disrupted lives and livelihoods across the nation.

“Those challenging times tested our resilience and our resolve as a people. Today, as we stand together to inaugurate the Bridge Power station, we send a clear message to everyone, every Ghanaian that Ghana will no longer be held back by the energy shortages of the past,” he stated.

He added, “Ghana is rising above the challenges and creating a future in which our energy supply supports our ambition not limiting them. We are overcoming the barriers that once stood in our way.”

President Akufo-Addo also assured of addressing the financial arrears owed the Independent Power Producers (IPPs) to ensure a resilient economy through efficient power supply.

The World Bank has disclosed that it is aware of allegations surrounding the operation of the Development Bank Ghana, a beneficiary under the Ghana Development Finance Project supported by International Development Association (IDA).

“We take all fiduciary issues very seriously and we are engaging key partners to obtain full clarifications”, a short statement from the bank said.

The Vice President of Imani Africa Bright Simons recently alleged that funds allocated to the Development Bank Ghana had not been well utilised.

Mr. Simons outlined serious issues with the capitalization of the bank, arguing that over GH¢400 million had been lost through improper contracting.

DBG denied claims of misusing funds allocated for operations

The Development Bank Ghana refuted claims that it misused funds allocated for its operations by the country’s development partners.

In a statement, the bank rejected media reports containing what it calls “significant inaccuracies and falsehoods” about its activities, stating that these undermine the institution’s commitment to transparency and Ghana’s economic transformation.

DBG clarified that it was initially capitalised with GH¢1.135 billion (approximately $200 million at the time) by the Ghanaian government in 2021, with additional funding from the African Development Bank.

The bank rejected claims that it misappropriated over GH¢400 million, emphasizing its stringent procurement policies. In a statement released on November 13, DBG noted, “Our procurement processes remain stringent, rigorous, and evolving in line with best global practices.”

Furthermore, DBG disputed assertions that it incurred GH¢700 million in losses, instead highlighting consistent annual profits since its inception, including GH¢80.1 million in 2023.

They also countered allegations about misuse of World Bank and European Investment Bank funds, noting these credit lines are strictly monitored and used exclusively for on-lending through financial institutions.

What is the IDA?

The IDA is the part of the World Bank that helps the world’s low-income countries.

IDA’s grants and low-interest loans help countries invest in their futures, improve lives, and create safer, more prosperous communities around the world.

World Bank approves $250m for Ghana

On June 18, 2024  the World Bank  approved a $250 million credit from the IDA and an additional $10 million grant from the Energy Sector Management Assistance Programme, to support a 4-year Ghana Energy Sector Recovery Programme for Results (PforR) to improve the financial viability of electricity distribution and increase access to clean cooking solutions.

The PforR will provide financing directly to energy sector utilities to implement capital expenditure programs and complement regulatory and policy reforms of the energy sector supported under the World Bank’s Development Policy Financing series and the ongoing IMF Extended Credit Facility Programme for Ghana.

The Clean Cooking Component of the Programme will increase the access of Ghanaian households, schools, and businesses to Liquified Petroleum Gas for domestic and commercial use. The PforR will provide direct incentives to subsidize the cost of stoves and accessories.

The ESRP is expected to provide a wide range of benefits to consumers which includes market development, affordability, energy access and equity, health and environmental protection against air pollution and associated health risks.

Robert Taliercio, World Bank Country Director for Ghana, Liberia, and Sierra Leone said, “Through this important results-based financing, the World Bank is committed to supporting the recovery of Ghana’s energy sector and its financial sustainability. The operation aims to strengthen revenue collection and improve the quality of energy supply through investments in prepaid metering and in the commercial and meter management systems of distribution utilities,”.

Minister for Finance, Dr Mohammed Amin Adam also said, “ the Government of Ghana is grateful to the World Bank for their support in the attainment of the Sustainable Development Goals (SDGs), particularly Goal 7 (Affordable and Clean Energy). Our quest to achieve financial viability in electricity distribution and increasing access to clean cooking solutions is essential for building sustainable energy systems that support economic development, improve public health, and protect the environment while promoting energy access and equity for all”.

He continued that “our access to sustainable energy is not just about powering homes and businesses, it’s about empowering communities, protecting the environment, and fostering inclusive and sustainable development”.

The Energy Sector Management Assistance Programme provides knowledge, technical assistance, and advisory services to help countries enhance their institutional capacity and implement sustainable energy solutions.

Access Bank, Africa’s leading commercial bank, has announced the launch of The Power of 100 Africa initiative, aimed at honoring women driving change across various sectors in Africa.

Building on the success of the 2015 Power of 100 book, which celebrated influential Nigerian women, this expanded project will highlight remarkable women in business, healthcare, technology, education, and more.

In his remarks, Managing Director of Access Bank (Ghana) Plc, Olumide Olatunji, explained the bank’s motivation for expanding the project beyond Nigeria.

“This year’s edition of Power of 100 will extend beyond Nigeria, celebrating women making significant impact across the African continent. The Power of 100 Africa is not just a celebration, but a call to action”.

“We are opening nominations today, inviting the public to help identify these phenomenal women—trailblazers, change-makers, and unsung heroes.”

Olumide Olatunji also emphasised the importance of spotlighting African women leading innovations and driving social change, noting that the initiative aims to uplift women’s success stories and inspire the next generation of female leaders.

According to her, the honorees will gain access to exclusive events, networking opportunities, and resources within Access Bank’s ‘W community’. They will also participate in mentorship programmes, either as mentors or mentees, to further develop leadership and community engagement skills.

Managing Director/CEO of ACT Foundation, Osayi Alile, explained that the ‘Power of 100 Africa’ project will focus on 16 African countries where Access Bank has presence, with Nigeria having 15 subsidiaries.

She noted that this approach will enable the Bank to effectively engage with communities where it has established relationships, ensuring that the support and recognition provided are impactful.

Alile also highlighted that a diverse jury panel of industry experts and respected figures will evaluate nominees to ensure transparency and fairness. Women across the 16 eligible countries can register via the link: powerof100.thewcommunity.com

The participating countries include Ghana, The Gambia, Sierra Leone, Zambia, Cameroon, Rwanda, D.R. Congo, Guinea, Mozambique, South Africa, Kenya, Botswana, Nigeria, Tanzania, Namibia, and Angola.

Speaking on the alignment of the project with Access Bank’s mission, Group Head of Retail, Matilda Asante-Asiedu said: “The Power of 100 Africa aligns with Access Bank’s commitment to empowering women and promoting gender equality. It also reflects the Bank’s broader mission to foster economic growth, support leadership development, and drive positive societal change across Africa.”

With The Power of 100 Africa initiative, Access Bank aims to inspire future generations by sharing the stories of African women who are making their mark.

To nominate a phenomenal woman or women driving change across different walks of life in Africa for global recognition, please click HERE.

The Chartered Institute of Marketing, Ghana (CIMG) has held its 34th Annual General Meeting (AGM), at the Lancaster Hotel in Accra, where the National President, Dr. Daniel Kasser Tee, gave an account of the Governing Council’s stewardship in the year under review, 2023.

In his address, Dr. Kasser Tee emphasised the Governing Council’s decision to base its “advocacy on marketing-related matters” on “scientific research.” He specifically highlighted the completion of the third wave of the Ghana Customer Satisfaction Index (GH-CSI) for the Banking Industry in 2023, noting that the report has been published.

The National President also expressed enthusiasm about the launch of the Ghana Regional Brand Index report, a survey conducted across all sixteen (16) regions of Ghana to uncover and showcase the economic and tourism potentials of each region. He stated that “several rounds of stakeholder engagements have been held with various ministries, agencies, and private sector organisations since the report’s successful launch.”

Additionally, he reiterated CIMG’s commitment to commemorating World Consumer Rights Day by “expanding its activities to engage both consumers and corporate organisations that provide goods and services, in line with its mandate under section 3(e) of the Chartered Institute of Marketing, Ghana Act 2020 (Act 1021).”

Dr. Kasser Tee acknowledged the Institute’s strong relationships with corporate organisations, media, and professional bodies, which have led to significant collaborations across the continent.

He also highlighted efforts to enhance the membership drive through partnerships with traditional and technical universities, as well as tutorial colleges serving as Tuition Centres for the Professional Marketing Qualifications (PMQ). These initiatives are “aimed at driving membership and promoting the PMQ.”

Special recognition was given to Dr. Dr. Francis Mensah Sasraku and dam Sulley for their outstanding contributions to the growth of the Institute. Their work in successfully integrating the PMQ programme in Ghana has been instrumental. In 2023, CIMG achieved pass rates of 78.04% and 79.91% for the PMQ examinations in June and December, respectively.

As part of the membership drive, Dr. Kasser Tee reported on the success of the Continuing Professional Development (CPD) programme, which supports the career progression of marketing professionals. In the year under review, 148 professionals were conferred the Chartered Marketer designation, and record cards for a new batch have been compiled, reflecting growing enthusiasm for the programme.

On strengthening the Secretariat, Dr. Kasser Tee mentioned the recruitment of new staff and plans to further enhance capacity through future recruitments to achieve a balanced workforce. He also highlighted the Institute’s strides in digitisation, including the exclusive use of digital payment platforms and ongoing efforts to digitise the database and processes for improved business transformation.

In his concluding remarks, the National President expressed gratitude to the Governing Council, various committees, the Registrar/CEO, and staff for their progressive performance in the year under review.

He finally thanked the entire membership for their relentless support to the Institute in the past year.

A former Chief Executive of Dalex Finance, Kenneth Thompson has lamented the worrying state of the country’s economy.

According to him, the government has mismanaged the country’s fortunes into retrogression causing increased unemployment among the youth.

He said this on Joy FM’s Super Morning Show on Tuesday, November 19, while contributing to a discussion about the rising cost of living worsened by a depreciating currency.

“The Ghana economy has gone back to the seventies and it will take us another 53 years to get back to 2016.”

He said, “The exchange rate was around GHS4.00 to the dollar, but now it has risen to over GHS16, and it continues to increase.”

“The government has overseen the largest transfer of private wealth to the state, which has since been mismanaged.”

Mr Thompson expanded on his concerns by highlighting the struggles faced by pensioners.

He also mentioned “the financial sector cleanup, which cost over GHS25 billion, yet no one has provided transparency regarding how the funds were spent”.

• Read also: The next government will face significant challenges – Prof Bokpin predicts

The former CEO emphasised the diminishing value of the cedi, saying, “The value of the cedi in our pocket is worthless” due to poor mismanagement.

He also pointed out that these issues contribute to the growing inability to afford children’s education, and that the situation is making the nation progressively poorer.

Mr Thompson further noted that the most affected by these economic challenges are the affluent, who are also suffering the consequences.

He added that the decline in the value of the cedi has led to increased levels of depression, anxiety, and loneliness, both for those in Ghana and those living abroad.

Dakar, Senegal – At the international conference on social policy in Africa, renowned scholar Prof. Michael Kpessa-Whyte delivered a keynote address, emphasising the interconnectedness of social and economic policies in promoting economic growth and human well-being.

Prof. Kpessa-Whyte, co-principal investigator of the Pan-African social policy research project GETSPA (Gender Equitable Transformative Social Policy in post-Covid-19 Africa), stressed that African governments must move beyond viewing social policy as mere safety nets. Instead, he advocated for a comprehensive approach incorporating production, reproduction, protection, redistribution, and social inclusion.

“Africa’s social policy landscape demands bold, innovative solutions,” Prof. Kpessa-Whyte asserted. “Policy makers must recognize the symbiotic relationships between social and economic policies to drive sustainable growth and development.”

He also highlighted the lingering impact of colonial legacy on Africa’s current social policy, urging leaders to design policies rooted in African values and norms.

“African social policy must be decolonized and reimagined to reflect our unique cultural contexts,” Prof. Kpessa-Whyte emphasized.

As co-lead of GETSPA, which spans over 30 African countries, Prof. Kpessa-Whyte brought a wealth of research expertise to the conference. His address sparked lively discussions among attendees, comprising policymakers, researchers, and practitioners.

Conference organizers praised Prof. Kpessa-Whyte’s thought-provoking presentation, noting its timely relevance to Africa’s development agenda.

Quote: “Prof. Kpessa-Whyte’s keynote address challenged us to rethink social policy’s role in Africa’s growth story. His insights will undoubtedly inform policy debates and research agendas.” – Conference Chairperson

Context: The international conference on social policy in Africa aimed to foster dialogue and knowledge sharing among stakeholders. Prof. Kpessa-Whyte’s presentation contributed significantly to this goal, inspiring renewed commitment to transformative social policy in Africa.

About GETSPA: The Gender Equitable Transformative Social Policy in post-Covid-19 Africa (GETSPA) project is a Pan-African research initiative exploring social policy’s impact on gender equality and transformative change. https://getspa.ug.edu.gh/home

A workshop focused on developing a biosecurity and bio-certification framework in Ghana’s aquaculture, poultry and piggery sectors has taken place at Koforidua in the Eastern region.

The aim is to update stakeholders and partners on progress in establishing biosecurity measures.

The programme, organized by the African Women in Agribusiness Network, AWIA, and the African Women in Animal Resource Farming and Agribusiness, AgriBiz, with funding support from GIZ was to advocate for a comprehensive Biosecurity and Bio-certification framework as well as to strategize future steps for enhancing biosecurity practices in Ghana’s livestock and aquaculture sectors.

The Country President for African Women in Animal Resource Farming, AWARFA-N, Dr Mrs Victoria Afua Norgbey highlighted how far the biosecurity standards and the bio-certification framework have reached and how useful it will be for all the stakeholders involved.

According to her, measures were progressing steadily to advance the biosecurity framework to certify farms that adhere to strict safety standards.

She explained that the collaboration underscored the necessity of a unified response to strengthen biosecurity protocols, reduce risks and ensure compliance with international standards.

A senior Veterinary Officer at the Fish Health Unit of the Fisheries Commission, Dr Ewurabena Ntiamoah Bediako, also stated that officers at her outfit are being trained to help farmers develop their biosecurity management plans to produce safe and quality fish for both local and international markets.

The workshop highlighted the critical need for robust biosecurity frameworks to safeguard Ghana’s agriculture sectors and protect the well-being of both livestock and consumers.

Participants recommended enhanced communication with stakeholders, the development of a national biosecurity plan, the enactment of the necessary legislation, and the establishment of standards to support the biosecurity framework.

Some Oil Marketing Companies have started reducing prices of petroleum products at the pumps from November 19, 2024.

Industry giant GOIL has taken the lead, selling a litre of petrol for GH₵14.35.

This represents GH₵0.29 reduction from the price the company was selling some two weeks ago. GOIL however kept the price diesel unchanged. A litre is still selling at GH₵15.45.

Reduction by other players

Some of the other Oil Marketing Companies have also told JOYBUSINESS that they are working to review their prices. It is not clear for now the expected margin of reduction.

There are currently more than 150 Oil Marketing Companies operating in the country. The review by the various players are in line with the two-week review in prices of petroleum products at the pumps.

Prices have been going up on the local market, since September 2024. That was in line with rising prices of crude oil on the international market .Crude oil prices on the international market have dropped from the 80 dollars a barrel range, currently selling at around 72 dollars a barrel.

Cedi’s Impact

Several Industry players including the Executive Secretary of the Chamber of Petroleum Consumers (COPEC) Duncan Amoah and Energy Analysts DR. Yusif Suleman have predicted that the level of reduction in fuel prices in the coming days will depend on the cedi’s outlook.

Mr. Amoah noted that, if the outlook is favorable consumers could witness about 5 percent drop in the prices of the petroleum products at the pumps.

The cedi has posted one of its longest good run against the US dollar in recent times.

The move has been linked to improve dollar support from the Bank of Ghana and slowdown in demand ahead of the Christmas Festivities.

Some of the Commercial Banks were today November 19, 2024, selling a dollar at  GH₵15.90 Pesewas.

CFAO Mobility has just staged one of the boldest and most dynamic multi-country launches for one of the world’s highly awaited pickup trucks, the Mitsubishi L200.

Starting from Côte d’Ivoire and making its way through Ghana, Togo, Benin, and finally arriving in Nigeria, the Mitsubishi L200 pickup has captivated audiences across West Africa. The journey wasn’t just about showcasing the impressive capability of this vehicle but also making some positive environmental and social impact along the way.

The Mitsubishi L200, a powerhouse of innovation and engineering, embarked on this remarkable journey to demonstrate its prowess across different terrains and climates in five different markets.
At each location, customers were able to witness the robust pickup in action via live events and test-driving experiences meant to give them a firsthand sense for its excellent performance.

CFAO did more than just showcase their new vehicle; they gave the caravan a unique twist by incorporating an impactful Corporate Social Responsibility (CSR) initiative. The L200 caravan began its tour from Côte d’Ivoire, moving into Ghana through Elubo, where the first major CSR event took place.

In Elubo, CFAO organised a tree-planting activity at a the Elubo Roman Catholic Basic school, demonstrating the brand’s dedication to minimizing its carbon impact. A number of trees were planted, and books were donated to the students, creating a good impact on education.

The caravan then continued to Tarkwa, where the Mitsubishi L200 was shown to corporate clients and executives. Also, in Tarkwa, the St Paul’s Anglican basic School received books and had a tree planting exercise where the children happily planted fruit trees. From there, it traveled to Kumasi for an exhibition at the city’s mall. Crowds gathered as CFAO conducted a special display of the L200’s design and features, which combine flair and great performance.

During a press briefing, Dennis Gawuga, Communications Manager, highlighted the importance of the initiative, which aligns CFAO Mobility’s dedication to both social and environmental responsibility while providing vehicles that cater to the needs of Ghanaians in a sustainable manner.

“At CFAO Ghana, we are deeply committed to operating in the most environmentally responsible way, which is why we incorporated tree planting in this road trip to help offset the carbon footprint generated by the caravan,” he stated.

“Our mission at CFAO is firmly rooted in positively impacting the environment and the communities we serve.” The Ghanaian stop of the pickup concluded with a grand cocktail event in Accra. Held in the heart of the capital, this celebration officially launched the Mitsubishi L200 to the Ghanaian market.

The Managing Director of CFAO Ghana, Adedamola Adelabu in a speech read on his behalf by the Finance Director Heritiana Randriamanantena explained how the L200 would improve the driving experience of both ordinary drivers and commercial vehicle users.He said

“This is more than just a vehicle; it represents a bold step forward for CFAO Mobility Ghana and our ongoing commitment to providing cutting-edge mobility solutions tailored for the Ghanaian market. As we all know, the pickup segment is one of the most competitive in the automotive industry in Ghana, and today, we are here to show you why the All-New Mitsubishi L200 is set to redefine this space.”

The next day, participants were welcomed to the Burma Camp facilities for a unique test-drive experience. Drivers tested the L200’s genuine capabilities as they negotiated varied terrains such as dirt, deep muddy waters, and steep slopes. Customers were thrilled by the vehicle’s performance, giving positive compliments about its handling, especially on challenging surfaces.

The Mitsubishi L200 boasts several features that make it a standout in the pickup segment. At its heart is a 2.4L Turbo Diesel engine that delivers powerful acceleration and a responsive drive, no matter the conditions. What truly sets the L200 apart, however, is its Super Select 4WD-II system, which offers drivers four selectable modes, including full-time 4WD. Whether on wet surfaces or dry pavement, the vehicle maintains excellent stability and cornering performance, making it an all-terrain beast.

Equipped with seven drive modes – the L200 offers drivers complete control over their environment. Active Yaw Control (AYC) enhances handling on slippery roads, while Active Stability and Traction Control maintain vehicle stability through turns. Additionally, the Active Limited Slip Differential prevents wheel spin, ensuring the L200 grips the road like a pro, even in difficult conditions.

Nutrition Lead at AGRA Bertha Mkandawire says Africa needs scalable solutions to deal with malnutrition on the continent.

Scalable solutions in agriculture are innovations or technologies that can be effectively and easily expanded and adapted to increase productivity, efficiency, and sustainability across varying farm sizes and conditions.

She says about 52% of the population on the continent cannot afford a healthy diet and only 6 African countries are likely to meet targets set by governments to improve nutrition by 2025.

She is urging the global community to support ongoing works on the continent to improve nutrition.

“Let’s advance more scalable solutions. What Africa needs now are solutions that are scalable to address the stunting rates that are still quite very high among many African countries,” Mkandawire said.

Speaking at a side event at the ongoing 29th United Nations Climate Change Conference (COP29) in Baku, Azerbaijan, she said due to the importance of nutrition, it has become a big part of AGRA’s work and they are open to working with partners to roll out a nutrition strategy across the continent.

“We realized that on the African continent, many people depend on primary staples; maize, wheat, and rice, as their primary source of calories.

“These crops are facing low productivity because of climate change, and that becomes a very big challenge,” she said.

“We at AGRA are emphasising soil health because improved soil leads to improved nutrients in the crops we are growing,” she added.

The side event was on the topic; “Impact of Climate Change on Crop Nutrient Quality and Health: Solutions for Resilient African Food Systems.”

It explored the impact of climate change, particularly rising atmospheric carbon dioxide and extreme weather events, on food supply and the nutrient quality of key staple crops.

It highlighted how these challenges heighten malnutrition risks, especially in vulnerable populations, and discussed innovative technologies and resilient food production systems to safeguard food security and improve nutritional outcomes.

Vice President of Global Programs at Farm Journal Foundation Rose Barbuto observed over 3 billion people cannot afford a healthy diet across the world.

She said poor diet is responsible for one-fifth of the mortality rate in the world but higher in low-income countries.

Between 76 to 85% of the population in the developing world cannot afford healthy balanced diets, a situation she said climate change was partly responsible for.

“Beyond traditional yield measures, increased carbon in the atmosphere contributes to the reduction of protein and minerals in plants while increasing the production of sugars and starches due to changing balances in nitrogen and phosphorous levels.

“Elevated carbon dioxide has been shown to decrease protein concentrations in wheat, barley, rice, and potato by 10 to 15%,” she disclosed.

Oliver Camp, Environment and Food Systems Advocacy Advisor of the Global Alliance for Improved Nutrition (GAIN) observed climate change is making micronutrients, in particular, less available to the populace.

“We know that when there is a higher concentration of carbon dioxide in the atmosphere, you see a reduction in really critical micronutrients in crops. You see a reduction in iron and zinc in wheat.

“So, if you’re getting 70% of your calories from wheat and then that is having its nutrient content reduced, then you can see how that will affect nutrient outcomes,” he said.

Praveena Sridhar, Chief Science and Technology Officer of the Save Soil movement called for practices that will help replenish soil nutrition.

She urged farmers to practice no-till, intercropping, and sustainable soil management practices or regenerative agriculture.

Activities in the secondary bond market fairly improved, rising by 15.64 percentage points to GH¢991 million last week.

This was primarily due to increased participation from offshore investors.

Trading was well distributed across maturities, with the February 2027 and February 2037 bonds accounting for about 48% of total volume.

The shorter end of the local currency yield curve attracted 51.53% of the market activity, yielding 24%, while the belly and tail segments accounted for 8.08% and 40.39%, attracting a Yield-To-Maturity of 24.48% and 24.15%, respectively.

Analysts expect that ongoing participation from offshore investors will help to reduce price volatility in the secondary bond market.

The strong appetite for these high-yield bonds reflects increased market optimism, which is likely to enhance liquidity and attract a broader range of investor participation in the near term

The persistent rise in inflation in Ghana and Nigeria will stifle economic growth as businesses face higher costs and consumers reduce spending. Deloitte West Africa has revealed in its Monthly Inflation Update.

This it said will worsen the ongoing cost of living.

According to the report, although the Economist Intelligence Unit (EIU) projects a year-end inflation rate of 20.5%, increased election spending ahead of the upcoming presidential elections will exacerbate inflationary pressures.

It added that the Bank of Ghana will leave its benchmark interest rate unchanged at its last Monetary Policy Committee meeting for the year. The policy rate presently stands at 27.0%.

Ghana’s headline inflation rose further to 22.0% in October 2024, from 21.50% in September 2024.

There were five items that contributed to the surge in inflation. They included Alcoholic Beverages, Tobacco and Narcotics (31.70%); Housing, Water, Electricity, Gas and Other Fuels (27.60%); Restaurants and Accommodation Services (24.60%); Health (23.90%) ad Food and Non-Alcoholic Beverages (22.80%).

The Upper East region recorded the highest inflation rate of 42.0%, whilst the Eastern region recorded the lowest inflation of 18.3%.

Nigeria’s headline inflation also jumped to 33.88% in October 2024. This raised concerns of another interest rate hike.

Bauchi state recorded the highest inflation rate of 46.68%. On the other hand, Delta state registered the lowest inflation rate of 27.85%.

After weeks of sustained depreciation, the Ghana cedi staged a recovery across the major trading currencies, buoyed by improved market liquidity from the Bank of Ghana.

The Central Bank sold US$209.10 million during the daily auctions while also auctioning US$20 million to the Bulk Oil Distributing companies.

Following the Bank of Ghana’s support, the cedi gained 0.80% week-on-week vs the US dollar, 2.12% vs pound and 1.96% against the euro last week.

At the close of the week’s trading, the local unit quoted at a mid-rate of GH¢16.79 to a dollar.

Last week, the Bank of Ghana announced plans to extend its daily foreign exchange support to the interbank foreign exchange market, with the condition that bidding banks end the previous session with a net short or maximum net long position of US$0.50 million.

Analysts expect this initiative, along with ongoing spot market interventions, to improve market liquidity, meet market demand, and help support cedi’s stability this week.

However, there are risk-off sentiments as concerns are rising on the sustainability of the foreign exchange reserves in the near term, especially given the Bank of Ghana’s continued liquidity support.

Meanwhil,e the cedi started yesterday, gaining marguianlly against the dollar and the other major foreign currencies.

It is going for GH¢16.79 against the dollar and GH¢21.25 to a pound on the retail market.

The year-to-date performance of the cedis also stands -27.20% to the dollar.

Government Statistician, Prof. Samuel Kobina Annim has cautioned against the formulation of policies which are not backed by data.

According to him, the implementation of interventions by governments may fail to live to its expected outcome if the country does not make data-driven decisions.

Speaking at the 2024 Africa Statistics Day, Prof. Annim explained that the use of tailored statistics in each sector of the economy will be crucial in the design and implementation of successful interventions.

“If we continue to make decisions at the national level and at the regional level, and we are not focusing on granular data, it’s inhibits our ability to achieve the success that we want.”

On the need to adopt tailored data sets to improve the education sector, he noted that “historical data, in this case, education, should be the basis for forming decisions post 2030 when the education strategic plan has ended.”

“So historical data are critical,”he emphasized.

He called on the public and private institutions to collaborate with the Ghana Statistical Service in developing a solid data bank for the country.

“The third issue that we’ve put out there is that private institutions, other MBAs, hold a lot of data set, and today, we’ve demonstrated it, and we are calling on all Municipal and District Assemblies to come join Ghana Statistical Service so that we can have a pool of data to inform the success of current policy interventions.”

The African Statistics Day is commemorated annually to deepen public awareness of the significant role statistics play in all aspects of social and economic life. 

With a focus on education, the 2024 edition was held on the theme; Supporting Education by Modernizing the Production of Fit-for-Purpose Statistics.

Tokenisation is a tool that offers a unique opportunity to tokenise a variety of things. Traditionally, the exchange of money to facilitate payment was heavily dependent on the physical exchange of items from gold, salt, cowrie shells, and ivory to present-day notes and coins. The digitalisation of payments opened the door to myriads of digital payment tools, systems and services.

A critical issue in the digitisation of currencies is cybersecurity as attacks may be launched on digital financial data.

Tokenisation provides a solution as it obfuscates the identity of such payment transactions. Historically, tokens were used as a substitute for actual coins or banknotes; for example, bus tokens or casino tokens served as a replacement for actual money.

Today this type of physical tokenisation has taken a digital form where token serves as surrogate for digital assets. In 2001, TrustCommerce was credited with the concept of tokenisation in the quest to protect card payments. 

Tokenisation can be described as a process whereby a piece of sensitive data, such as a credit card number, is replaced by a surrogate value known as a token, a unique and nonsensitive string of symbols randomly generated by an algorithm that is devoid of inherent meaning or exploitable value.

For example, tokenisation replaces the 16-digit number found on a credit or debit card (PAN) with a digital token, ensuring that consumers’ underlying account details are not readable and unusable by anyone except by authorised persons. 

In a recent report, McKinsey estimates that tokenised market capitalisation could reach around $2 trillion by 2030, excluding cryptocurrencies and stablecoins. (www.mckinsey.com/industries/financial-services/our-insights/from-ripples-to-waves-the-transformational-power-of-tokenizing-assets )

Types of tokens

There are several classifications for tokens based on their relationship to the real-world asset theysymbolise. Three main types of tokens stand out; asset or security, utility currency or payment and tokens whose sole purpose is to serve as a digital means of payment. 

Tokenisation and encryption are two types of cryptographic methods that serve as data security tools. Whereas tokenisation does not change the data type or length being protected, encryption does change length and data type using a key; hence, encryption is unreadable unless one has the “key”.

On the other hand, tokenisation does not use a key; instead, it relies on non-decryptable information to represent secret data. Though users may use tokenisation and encryption in tandem, encryption is growing in popularity since it offers a more cost-effective and secure option. 

For instance, blockchain, which is a decentralised ledger spread across a distributed network, uses tokenisation to digitally represent its inherent assets such as art, financial assets like bonds or equities, intellectual property and non-fungible tokens (NFTs).

Tokenisation is used in developing a smart contract, which is an application that automatically executes when certain conditions are met. AI models also rely on tokenisation to break down data in a manner that will make pattern detection easy.

For large Language Models (LLM) to work, it extracts text into tokens, and each token is mapped to a unique numerical identifier, which makes it easy for the AI model to learn relationships based on patterns facilitated by tokens.

How does tokenisation work?

A token can be created in various ways, such as using a mathematically reversible cryptographic function with a key, a non-reversible function (hash function) and an index function that is a randomly generated number. There are four key processes in tokenisation, namely:  

• Token generation (sensitive information like credit card number is converted into a string of random characters(tokens)
• Tokens used to make payments in place of actual payment information, such as a credit card number.
• Token mapping, where the token is mapped to the original data to facilitate transactions 
• Upon completion of a transaction, the token can be destroyed or kept for ongoing processes such as recurring payments. 

For example, if a customer makes a payment online instead of credit card details, a randomly generated token is transmitted for verification. In terms of Payment card industry (PCI) standards, retailers cannot store credit card numbers on POS terminals or in their databases after customer transactions; therefore, to be PCI compliant, such retailers can rely on tokenisation service providers. 

Tokenisation comes with many benefits, such as making it harder for hackers to crack a payment system, faster transaction settlement, being a less resource-intensive process than encryption, enhancing payment security, making payments more convenient, reducing operational cost, reducing the complexity of compliance, reducing data security breaches and supporting more nimble infrastructure. 

Tokenisation’s varied applications make it a critical tool today, and its relevance is growing since it is linked to the future of money.

In conclusion, digital payments come with several challenges. One ever-present one is securing such digital payments. Payment tokenisation offers a solution to secure payments, leading to trust and confidence in digital payments, which is firmly entrenched in our modern society. 

Written by Kwami Ahiabenu, II (Ph.D.) is a Technology Innovations Consultant

E-mail: kwami@mangokope.com

Africa’s biggest mobile operator MTN is exploring partnerships with low-Earth-orbit (LEO) satellite providers to bring internet connection to rural and remote customers in particular, Group CEO Ralph Mupita said on Monday.

Satellite-internet has become an alternative connectivity solution across Africa with the popularity of providers such as Starlink, operated by Elon Musk’s SpaceX.

LEO satellites provide high-speed internet even in areas where terrestrial telecommunications infrastructure such as fibre and mobile broadband is difficult and expensive to deploy.

“To keep customers and businesses connected at all times, we’re going to have to embrace satellite as an additional technology form,” Mupita said in a media call.

He said South Africa-based MTN was carrying out proof of concepts with several LEO satellite operators for possible partnerships.

“We are exploring several, and actually some of them we’re happy to be resellers through our enterprise business to some of our customers in specific countries,” Mupita said.

MTN is not alone in seeking out partnership agreements. Smaller rival Cell C is doing the same.

South Africa’s biggest operator Vodacom, majority owned by Britain’s Vodafone, announced a partnership with Amazon’s Project Kuiper LEO satellite last year.

“We’re very aware of the challenges of having to compete as a fixed and wireless operator with LEO satellites over time, so we’re arranging ourselves to be able to sure proof our businesses in our key markets,” Mupita said.

Starlink operates in several African countries but has faced regulatory challenges in others, including South Africa, and resistance from state telecoms companies.

South African regulator ICASA is currently working on the regulatory and licensing framework for satellite internet providers to provide clear rules for operators.

“LEO operators should be treated the same as terrestrial operators such as ourselves, subjected to the same regulatory requirements whether it’s around data privacy, data transport, localization and access to spectrum,” Mupita said.

“Our ask is that there just be a level playing ground.”

US budget carrier Spirit Airlines has filed for bankruptcy protection after a long run of financial losses and a series of failed merger attempts.

On Monday, the Florida-based airline said it had arranged an agreement to restructure its debt and raise money during a bankruptcy process that is expected to last until early 2025.

During that time, Spirit’s operations will continue as normal and passengers will be unaffected, it said.

Spirit, which has not recorded a full-year profit since the start of the Covid-19 pandemic, is the first US airline to file for bankruptcy in more than a decade. American Airlines declared bankruptcy in 2011 to cut labour costs during a period of high fuel prices.

In a statement, Spirit said the bankruptcy process – known as Chapter 11 – will not impact employee pay or payments to aircraft leasing companies.

The company will be de-listed from the New York Stock Exchange in the “near term” and stock shares will be cancelled, with no value, as part of its restructuring, Spirit said.

Despite strong demand, the no-frills airline posted losses of approximately $360m (£285m) in the first half of this year.

Competition in the budget travel market has been rising and Spirit has also been forced to ground aircraft as a result of mechanical issues with some engines, which drove up operating costs.

Earlier this year, Spirit’s highly anticipated $3.8bn ($3bn) merger with another US carrier, JetBlue, collapsed. A Massachusetts judge blocked the deal, arguing that a merger would reduce competition in the market.

Another attempt to merge, with Frontier Airlines in 2022, fell apart after Spirit was outbid by JetBlue.

Originally a long-haul trucking company founded in 1964, which pivoted to aviation in the early 1980s, the firm rebranded as Spirit in 1992. It is considered a pioneer in budget flying, forgoing many amenities that are standard on other airlines to keep ticket prices low.

Eudirok Investment Ghana Limited, in collaboration with its international partners, has officially launched the Regional Smart Cities Project, a bold initiative set to revolutionise urban living and economic opportunities in Ghana.

Held in Accra, the event brought together industry leaders and stakeholders who shared insights into the project’s transformative potential.

Eugene Oyoko Baah, Chief Executive Officer of Eudirok Investment Ghana Limited, described the project as a game-changer for Ghana.

“This initiative positions Ghana as the first West African country to utilize advanced recycling technologies, converting rubber waste into affordable and sustainable building materials,” he said.

Mr. Baah highlighted the urgent need to address Accra’s overpopulation and soaring housing costs.

“Accommodation in Accra is expensive, and traffic congestion is a daily struggle. It’s time to rethink urban development by building new cities in other regions. Just as Nigeria shifted its administrative capital to Abuja, we must decentralise Ghana’s economy to reduce reliance on Accra.”

He emphasised the economic benefits of the project, which will provide jobs for youth and artisans through a partnership with the Youth Employment Agency (YEA).

“The Regional Smart Cities Project will not only create affordable housing but also empower the youth, ensuring they are integral to this transformative journey,” Mr. Baah added.

Building the Foundation of a Civilisation

Professor Arezki Dhamani, President of M.U.M Europe, framed the project as a monumental step forward for Ghana.

“The Smart Cities Project is not just about infrastructure; it is a civilization project,” he remarked.

Mr. Dhamani underscored the importance of laying a strong foundation by aligning the initiative with environmental sustainability and ensuring public education and engagement.

“The first step is to develop a concept that harmonizes with the environment while fostering participation from all stakeholders. This foundation is essential for the long-term success of the project,” he explained.

Technological Innovations in Construction

Cherry Emmanuel, CEO of the Ghana Chamber of Construction, reflected on the groundbreaking technologies being introduced through the project. “Traditionally, construction in Ghana has revolved around concrete blocks. However, technology now allows us to use materials like recycled car tyres to produce plasterboards and prefabricated panels,” he noted.

He explained how these innovations could significantly lower construction costs while promoting sustainability. However, he also urged caution: “It is essential to test these materials thoroughly before adopting them on a large scale. They must prove their cost-effectiveness and suitability for Ghana’s unique conditions.”

Pioneering Sustainable Urban Development

The Regional Smart Cities Project aims to decentralise urban development, reduce environmental waste, and provide affordable housing across Ghana’s regions. By involving local artisans and youth, the initiative promises to foster economic growth and alleviate the pressure on Accra as the nation’s sole economic hub.

Eudirok Investment Ghana Limited’s bold vision sets a new standard for urban development in Ghana, offering a sustainable, inclusive, and forward-thinking approach to housing and regional growth.

Eudirok Investment Ghana Limited is a trailblazer in sustainable development, leveraging innovative technologies to address pressing societal challenges. Their Regional Smart Cities Project reflects a commitment to creating a more equitable and environmentally conscious future for Ghana.

AngloGold Ashanti Obuasi Mine has confirmed its status as sustainability champions by sweeping nine awards, the most won by a company at the 2024 Sustainability & Social Investment Awards (SSI) held at Movenpick Ambassador Hotel in Accra.

The feat comes on the heels of a dominant performance in last year’s event where AngloGold Ashanti Obuasi Mine swept seven awards.

The SSI Awards organised by Ianmatsun Global Services recognizes the most outstanding sustainability, Corporate Social Responsibility (CSR), Environmental, social, and governance (ESG) initiatives in the country and beyond as well as the best teams and individuals who brought them to life.

This year’s event, which was the 8th edition, was under the theme “Climate Action Now: Accelerating Decarbonization and Building Resilience”.

The awards won by AngloGold Ashanti on the night include SSI Company of the Year, Best Company in Women Empowerment (project), SSI Company of the Year ( Environment), Best Company in Economic Empowerment, Best company in Stakeholder Engagement, SSI Company of the year and Best SSI Team of the Year.

The rest are Best Company in Environmental Sustainability project and Best Company in Community Development and Infrastructural projects.  Additionally, Mavis Nana Yaa Kyei, the Social Development and Gender Superintendent of AngloGold Ashanti Obuasi Mine, received the SSI Women Empowerment Leadership Award.

The awards demonstrate AngloGold Ashanti’s commitment to innovation, health initiatives, social investment, sustainability, and community development.

It also showcases the company’s unwavering commitment to upholding one of its core values, Sustainability, by positively impacting the communities in which it operates.

Speaking to the media after the awards, Mr. Emmanuel Baidoo, Head of Community Relations for AngloGold Ashanti’s African Business Unit dedicated the awards to the entire AngloGold Ashanti family emphasizing the need to sustain the high level of teamwork needed to achieve more successes.

He attributed the Obuasi Mine’s successes at the SSI awards event since 2020 to the design and implementation of their programs and interventions in the communities they operate in.

Mr. Baidoo mentioned that the well thought-out processes and how the interventions are packaged are what makes AngloGold Ashanti Obuasi Mine unique.

“Our 10- year Socioeconomic development plan encompasses impact driven designs and interventions, co- created with our stakeholders. We brainstorm and find solutions to problems that we identify in our communities”, Mr. Baidoo added.

He said the nine awards won on the night reflects years of consistency and underscored that Obuasi Mine is not resting on their oars but remain increasingly focused on implementing their interventions to benefit residents of their host communities.

He mentioned that as a mining company,  such awards confirms that the company’s  efforts do not go unnoticed. This he said, motivates AngloGold Ashanti to do more for their host communities.

AngloGold Ashanti Obuasi Mine has affirmed its status as a sustainability champion after sweeping nine awards at the 2024 Sustainability & Social Investment Awards (SSI) held in Accra.

The SSI Awards organised by Ianmatsun Global Services recognised the most outstanding sustainability, Corporate Social Responsibility (CSR), Environmental, Social, and Governance (ESG) initiatives in the country and beyond as well as the best teams and individuals who brought them to life.

This year’s event, which was the 8th edition, was under the theme “Climate Action Now: Accelerating Decarbonization and Building Resilience”.

The feat comes at the heels of a dominant performance in last year’s event where AngloGold Ashanti Obuasi Mine swept seven (7) awards.

The awards won by AngloGold Ashanti on the night include SSI Company of the Year, Best Company in Women Empowerment ( project),  SSI Company of the Year (Environment), Best Company in Economic Empowerment, Best Company in Stakeholder Engagement, and Best SSI Team of the Year.

Others are Best Company in Environmental Sustainability Project and Best Company in Community Development and Infrastructural projects. 

The Social Development and Gender Superintendent at the Mine, Mavis Nana Yaa Kyei, received the SSI Women Empowerment Leadership Award.

The awards demonstrate the company’s commitment to innovation, health initiatives, social investment, sustainability, and community development.

It also showcases the company’s unwavering dedication to upholding one of its core values, Sustainability, by positively impacting the communities within its operational areas.

Head of Community Relations for AngloGold Ashanti’s African Business Unit, Emmanuel Baidoo, dedicated the awards to the entire AngloGold Ashanti family emphasizing the need to sustain the high level of teamwork needed to achieve more success.

He attributed the Obuasi Mine’s successes at the SSI awards event since 2020 to the design and implementation of their programs and interventions aimed at promoting sustainability in host communities.

Mr. Baidoo explains that the well-couched processes and interventions are what make the AngloGold Ashanti Obuasi Mine unique.

“Our 10- year Socioeconomic development plan encompasses impact-driven designs and interventions, co-created with our stakeholders. We brainstorm and find solutions to problems that we identify in our communities”, Mr. Baidoo added.

He explained the Mine is not resting on its oars but remains focused on implementing more of its interventions to benefit residents of their host communities and revamp activities in Obuasi.

The Chamber of Agribusiness Ghana is in disagreement with the government’s proposed plan to construct a 60,000-tonne grain silo to store produce from farms across the country.

Agriculture Minister, Bryan Acheampong, announced that the government is looking at establishing its first modern silo facility following the dry spell that hit parts of the country.

He indicated that the project, costing about $64 million, is part of the government’s efforts to halt postharvest losses and store enough grain to address the country’s food security challenges.

But in a press statement, the chamber raised concerns about the cost involved and the proposed facility location.

They want the government to refocus on supporting farmers, improving irrigation systems, and enhancing agriculture research.

“While we appreciate the government’s efforts to address food security concerns, we believe that the project’s cost and location require urgent review. The Chamber is very concerned with the project cost, the $64 million price tag, considering the current economic climate and competing priorities for agricultural development,” the statement read.

It continued: “This amount could be re-aligned to allocate a portion to support farmers, improve irrigation systems, deploy post-harvest infrastructures, and enhance agricultural research”.

According to the Chamber, its research reveals the Eastern region’s Kwahu, which will be holding the establishment, is not a grain-growing region to have such a facility.

The region’s agricultural production is primarily focused on fruits, vegetables, cocoa, roots, and tubers rather than grains.

It believes the Bono, Ahafo, Ashanti, Volta and Upper West regions which are the primary hubs for maize and rice production should rather be the focused areas for the location of the silo.

“Investing in grain silos in these regions would yield greater economic benefits and have a more significant impact on the country’s food security. The current project’s location and a strategic reserve of this nature require careful consideration of accessibility, storage facilities, and transportation networks. We fear that a poorly chosen location could lead to inefficiencies and increased costs,” the statement said.

The chamber says research findings indicate “investing in grain storage infrastructure is crucial, but location and cost are critical factors to consider”.

The chamber wants the government to undertake a feasibility of the location of the facility while they engage with relevant stakeholders to align the investment, according to the needs of the industry.

A powerful wind of change is reshaping storytelling, and those who have embraced this paradigm shift have shared insights on navigating the evolving landscape.

The era of relying solely on traditional media to tell brand stories swiftly ends. As the Executive Director of the Advertising Association of Ghana, Isaac Cudjoe stated, ‘Digital storytelling is the heartbeat of marketing communication because traditional media is gradually phasing out.’

At the just-ended thought-leadership event on digital storytelling organised by Whoopro under the theme ‘The Art of Digital Storytelling,’ digital marketing experts assembled to explore how digital marketers can leverage digital tools to amplify narratives, engage audiences, and create an impact for brands and their customers.

In his keynote address, Mr Isaac Cudjoe expounded that in today’s digital age, brands must ensure that the stories they craft for their audiences convey messages in “immersive, impactful, and relatable ways.”

He noted that this immersive quality sets digital storytelling apart from traditional methods.

Mr Cudjoe further highlighted the importance of cultural relevance in digital storytelling, asserting that a well-told story can inspire both public and customer action when it aligns with the audience’s values and context.

Marketing Content Manager at the African Leadership University (ALU), Kwabena Oppon-Kusi, on his part, emphasised the need for digital marketers not only to master digital tools but also to deepen their understanding of the world around them to reach their full potential in digital marketing.

“Be a person of the world who is ready to consume everything around you. You need to understand how this world moves. Pay attention to every little thing and find inspiration in every single thing.

“Be willing to learn how to use the tools that will aid you in telling the stories. You should be able to tell a good story if you understand the world around you and you are a student of the world,” he advised.

Digital Content Creator and Media Personality Ivy Prosper, who has achieved notable success in sharing positive Ghanaian stories through her role in managing the digital storytelling for Beyond the Return over the past five years, passionately appealed to Ghanaians to use social media as a tool to promote a positive narrative of Ghana.

She made a strong case that Ghanaians can shift global perceptions and showcase the country’s best attributes to the world through social media.

In a digital age, she noted, every citizen has the power to be an ambassador for Ghana, amplifying the nation’s strengths through their social media presence. “Culture is a big part of Ghana, and a single cultural post can go a long way,” she encouraged  

Head of Marketing and Corporate Communications at UBA Ghana, Henry Dottey speaking at the event, highlighted the evolving nature of social media, emphasising that there are no fixed “dos and don’ts” because each campaign has unique objectives that guide its approach.

He pointed out that brands should harness the spontaneity of social media and use visual storytelling to connect with audiences in their storytelling.

The communication expert also stressed that engaging with audiences through comments and interactions is essential, as it builds understanding and allows audiences to see the brand’s perspective.

He further encouraged brands to think globally in their storytelling while keeping a clear understanding of their audience in mind.

The Art of Digital Storytelling event is part of a series of activities organized by Whoopro under the auspices of Global Media Alliance to celebrate World Digital Marketing Day, celebrated on the 16th of December.

The Day is set aside to spread awareness about the importance of digital marketing while celebrating and appreciating digital marketers who promote brands, websites, products, and services in the online space.

As part of this celebration, Whoopro has curated a lineup of renowned speakers, thought leaders, and industry experts who will share their insights, case studies, and best practices.

In the weeks leading up to December 16th, attendees can look forward to engaging panel discussions, interactive sessions, and valuable networking opportunities designed to foster collaboration and knowledge exchange.

The Chairman of the National Council on Persons with Disabilities, Yaw Ofori Debra, wants the government to support entrepreneurs who are disabled.

He is worried about the government’s disregard about disability issues.

He also reiterated the need for corporate entities to stop discriminating against PWDs, but rather support them with decent jobs.

Speaking at the 10th Anniversary celebration of the Ghana Stammering Association in Accra, he said PWDs should be given opportunities to strive

This, he said, reflected in the public and governmental attitudes which he lamented “to exclude and marginalise people with disabilities”.

“We need not be shy but we have to continue with our push for equal opportunities. We need jobs and corporate entities and the government must stop discriminating against us”, he said

Mr Debra said disabled entrepreneurs in Ghana struggled to access capital and resources, often facing prejudice within the business community.

He called for changes within the banking system to make financial assistance more accessible to the vulnerable society, citing experiences where banks refused to offer loans due to bias against people with disabilities.

Mr Debra also highlighted the hard work of people with disability, as he made reference to a new natural fruit beverage venture that the association had developed, saying the venture could employ thousands of people with disabilities.

He consequently urged the Ministry of Trade and Industry to support the business, emphasising that disabled entrepreneurs deserved the same opportunities as others in the business sector.

CalBank Plc is on a campaign to encourage more women-owned businesses in Ghana to participate in foreign trade.

Women-owned businesses constitute 44% percent of Ghana’s economy but remain largely uncompetitive on the global stage.

However, Head of Women’s Banking, Portia Manu-Boafo believes the narrative could change if they receive the necessary support.

“Most Ghanaian women are involved in trading. They are either buying from Turkey, Dubai or China. They need support. CalBank has identified suppliers and manufacturers within these regions. We are bringing our local women business owners to meet with them, tour their factories and facilitate transactions”, Manu-Boafo told JoyBusiness at the CalBank Trade Summit.

The Trade Summit held in two cities Istanbul, Turkey and Dubai, UAE is an initiative of CalBank’s Women’s Banking Unit aimed at giving women entrepreneurs the opportunity to network, access market opportunities and move their businesses to the next level.

Nightingale Esi Whyte, owner of NightWhyte Ventures, a mobile phones and accessories dealer, is among several women attending the Summit. She acknowledges business trends are changing globally.

Whyte added, “Embarking on this trip to Istanbul and Dubai is giving me opportunity to meet potential investors, learn new things and get new ideas for business”.

The engagements build on previous B2B successes, which have helped Ghanaian businesses secure international contracts and partnerships.

“We are excited about the feedback we are getting from these women entrepreneurs”, Manu-Boafo said while highlighting various financing products introduced by the CalBank to support them, including Obaapa Loan and She Rise business account. .

The Women’s Banking Unit provides digital solutions, uniquely and creatively designed to meet the financial needs of women and women entrepreneurs – offering concessionary rates, flexible collateral arrangements and a quick turnaround time.

To address the many challenges that women entrepreneurs face, CalBank PLC established the Women’s Banking Unit (WBU) in November 2018 with the core mandate of identifying, developing, and promoting women-owned and women-led businesses.

Africa World Airlines (AWA) has generously donated over GH₵60,000 to the Breast Cancer Unit of the Korle Bu Teaching Hospital to support breast cancer patients undergoing treatment.

Speaking at the donation ceremony, Joselyn Andoh, Brand and Corporate Communications Manager of AWA, stated that the initiative aims to reduce the financial burden on patients and assist them throughout their treatment journey.

“This is part of our commitment to improving the lives of patients battling breast cancer and contributing to the fight against this disease,” she added.

Breast cancer continues to be a significant public health challenge in Ghana, with the World Health Organization (WHO) reporting over 4,000 new cases annually and more than 2,000 deaths each year. Globally, breast cancer accounts for 29.5% of all cancer cases, while Ghana’s prevalence rate stands at 19.5%, highlighting the critical need for support.

The donation, made possible by the contributions of AWA’s generous passengers and dedicated staff, reflects the airline’s commitment to making a positive impact on health in Ghana.

Receiving the donation on behalf of the unit, Dr. Florence Dedey and Dr. Maurice Dordunoo, a surgeon at the Breast Cancer Unit, expressed gratitude for AWA’s support. He noted that many patients struggle to afford the necessary treatments, and donations like this are vital in bridging the gap and saving lives.

Africa World Airlines remains steadfast in its commitment to supporting communities and initiatives that improve lives, with this donation standing as a testament to its dedication to making a meaningful difference.

On 8th November 2024, Ghana celebrated a significant milestone in sustainable architecture with the inauguration of a Nearly Zero-Energy Building (nZEB). The project, a collaboration between GIZ Ghana and the Energy Commission of Ghana, represents a transformative step towards environmentally responsible construction.

This innovative model building showcases how government office buildings can be designed with energy efficiency at their core, setting a new standard for sustainability in Africa. Berock Construction Limited, the primary contractor, is proud to have played a key role in delivering this forward-thinking project, underscoring its commitment to building a greener, more sustainable future.

A Vision in Sustainable Design

Designed by S. Tetteh + Associates, the nZEB exemplifies modern sustainable architecture. The compact structure incorporates both passive and active strategies to minimise energy consumption. Key features include:

• Extensive Sunshading: Crafted from native denya hardwood, the sunshading system reduces heat gain while enhancing the aesthetic appeal.
• Double-Glazed Low-Emissivity Windows: These provide thermal insulation and comfort while allowing natural light to flow through the building.
• Locally Sourced Materials: By prioritising Ghanaian resources, the project reduces its carbon footprint and supports local industries.

These elements not only minimise the building’s environmental impact but also reflect Berock’s commitment to championing Ghanaian craftsmanship and sustainable practices.

Energy Efficiency at Its Core

The Nearly Zero-Energy Building generates 88% of its annual electrical load (56.1 MWh out of 63 MWh) through an on-site 50 kW peak solar photovoltaic (PV) system. Once net metering is implemented, the building is projected to become a net power exporter, demonstrating an exceptional commitment to energy sustainability.

Other notable energy-saving features include:

• Eco-Friendly Cooling: The building’s central cooling system operates with R290 refrigerant, a zero-greenhouse gas alternative.
• Energy Management System: This advanced system actively monitors and optimises energy usage, ensuring peak efficiency at all times.

Over its 50-year lifecycle, the building is expected to reduce environmental impacts by 50% compared to conventional structures, showcasing Berock’s expertise in sustainable construction.

Celebrating Ghanaian Culture and Craftsmanship

The building’s interior design pays homage to Ghanaian culture and heritage. Highlights include:

• Woven Pendant Lighting: Inspired by traditional basketry, these unique fixtures adorn the entrance foyer.
• White Terrazzo Flooring: Sleek and modern, the floors are both durable and elegant.
• Rammed Earth Walls: These natural accents add warmth and texture to reception and office spaces.

The design merges functionality with cultural expression, creating a space that is as inspiring as it is practical.

Functional and Flexible Spaces

The building features:

• Two conference rooms (65-seater and 70-seater)
• Office spaces for staff
• Kitchens and washrooms
• A roof terrace and a courtyard

As a venue for Energy Commission training workshops, the building not only serves as a functional workspace but also as a blueprint for future energy-efficient government facilities.

A Pioneering Project for a Sustainable Future

Berock Construction Limited is honoured to have been part of this landmark project. With a steadfast commitment to delivering sustainable, high-quality construction solutions, Berock is ready to lead the way in creating infrastructure that respects the environment and uplifts local communities.

For clients seeking innovative and responsible construction expertise, Berock offers unparalleled service, blending technical precision with a deep respect for cultural and environmental values.

Project Team

• Architects: S. Tetteh + Associates
• Quantity Surveyors: D-Kwarteng & Associates Consult Ltd
• MEP Engineers: ROHI Engineering Ltd
• Structural Engineers: Yawson & Lombardi LLC
• Contractors: Berock Construction Ltd

The COVID-19 pandemic has dramatically reshaped the way businesses operate worldwide, and Ghana is no exception. The unprecedented shift to remote work has tested the resilience and adaptability of businesses across the nation. One tool that has stood out during this period is Microsoft Teams, which has become an essential part of daily business operations. This article explores how Microsoft Teams has transformed work in Ghana, why it became so crucial during the pandemic, and what exciting new features are on the horizon.

1. The sudden shift to remote work: a new era for Ghanaian businesses

The rapid adoption of Microsoft Teams 

When the pandemic hit in early 2020, businesses were forced to rethink how they operated almost overnight. In Ghana, like in many parts of the world, companies that had once only considered the possibility of cloud-based operations suddenly found themselves scrambling to implement remote work solutions. Microsoft Teams, already popular among forward-thinking businesses, quickly became the go-to platform for communication and collaboration.

For many Ghanaian companies, the move to Teams was not just about staying connected; it was about survival. With government lockdowns and social distancing measures in place, businesses needed to ensure continuity while protecting their employees. Microsoft Teams provided a lifeline, allowing companies to maintain ‘business as usual’ even when the usual way of doing business was no longer an option.

Why Microsoft Teams stood out 

Microsoft Teams had already been making waves before the pandemic, offering an all-in-one solution for video meetings, chat, file sharing, and collaboration. For businesses in Ghana, where travel can be time-consuming and costly, Teams offered an efficient alternative to in-person meetings. The platform’s ease of use, coupled with robust features like screen sharing and document collaboration, made it a natural choice for companies looking to adapt quickly.

Teams’ low data requirements—just 1.2 Mbps for video calls—were particularly advantageous in Ghana, where internet speeds can vary widely. The platform’s ability to handle inconsistent internet connections helped minimize disruptions, allowing businesses to stay connected even under less-than-ideal conditions.

• How Teams is shaping the future of work in Ghana

Continued evolution of Microsoft Teams 

Since the start of the pandemic, Microsoft has continuously improved Teams, adding new features and refining existing ones to meet the evolving needs of its users. This adaptability has cemented Teams’ position as a staple in the future of work, not just as a temporary fix but as a long-term solution for businesses in Ghana and beyond.

Some of the most exciting features recently introduced or on the way include:

• Dynamic view: This feature automatically adjusts the layout of your Teams meeting for the best viewing experience, making virtual meetings feel more natural and engaging.
• Customised feeds: Teams now allow you to take control during presentations by customizing how your video and content appear to your audience, enhancing your ability to engage and communicate effectively.
• Improved security: Microsoft Teams has strengthened its security features, allowing users to block downloads of shared files and manage access to recorded meetings. This is crucial for businesses in Ghana looking to protect sensitive data.
• Live captions: Real-time captions help ensure that everyone in the meeting can follow along, a feature particularly useful in environments where language barriers or hearing impairments might otherwise be a challenge.
• Smart cameras and VR/AR integration: Future updates include plans for smart cameras positioned at eye-level to improve virtual eye contact and the integration of virtual reality (VR) and augmented reality (AR) headsets. This will allow businesses to create immersive virtual boardrooms, enhancing remote collaboration.
• End-to-end encryption: Earlier this year, Microsoft Teams introduced end-to-end encryption for one-on-one calls, with plans to expand this feature to group calls. This ensures that your conversations remain private and secure, an increasingly important consideration in today’s digital world.

These new features highlight Microsoft’s commitment to keeping Teams at the forefront of the digital workplace, continuously evolving to meet the needs of modern businesses.

• The impact of Microsoft Teams on Ghanaian businesses

Enhancing communication and reducing costs 

One of the most significant benefits of Teams is its ability to reduce operational costs. Video meetings eliminate the need for expensive business travel, while the platform’s document sharing and collaboration tools reduce the reliance on physical office space. For Ghanaian businesses, this means significant savings that can be reinvested into other areas of the business, driving growth even in uncertain times.

Improving employee satisfaction and productivity 

The shift to remote work has also had a positive impact on employee satisfaction. Microsoft Teams allows employees to work flexibly, balancing their professional and personal lives more effectively. For those who have grown tired of long commutes and rigid office hours, Teams offers a refreshing change that fosters productivity and engagement.

Staying competitive in a digital world 

In today’s fast-paced business environment, staying competitive means embracing new technologies that enhance efficiency and innovation. Microsoft Teams has proven to be more than just a stopgap solution during the pandemic; it’s a powerful tool that empowers businesses to thrive in a digital-first world. Companies that continue to leverage Teams will find themselves better positioned to compete, not just locally but on a global stage.

• The future of Microsoft Teams: what to expect

Ongoing improvements and new capabilities 

Microsoft’s roadmap for Teams includes a host of new features designed to make remote work even more effective. Automated transcripts, enhanced recording options, and expanded app integrations are just a few of the improvements that will continue to make Teams a valuable asset for businesses of all sizes.

Security and privacy as top priorities 

As cyber threats continue to evolve, Microsoft is committed to enhancing the security and privacy features of Teams. With agile cybersecurity measures and continuous updates, Teams offers one of the most secure environments for business communication available today.

The permanent role of Teams in business 

While the future course of the pandemic remains uncertain, one thing is clear: Microsoft Teams is here to stay. It has already transformed how businesses in Ghana operate and will continue to play a crucial role in the future of work. Whether it’s facilitating seamless remote work, enhancing collaboration, or enabling virtual reality boardrooms, Teams is paving the way for a new era of business.

Conclusion: embracing the digital future with Microsoft Teams

The rapid adoption of Microsoft Teams during the pandemic has not only allowed businesses in Ghana to survive but to thrive in a challenging environment. As Teams continues to evolve, its role in shaping the future of work becomes even more evident. For businesses ready to embrace the digital revolution, Teams offers a powerful, flexible, and secure platform that will drive success in the years to come.

If your business hasn’t fully explored the potential of Microsoft Teams, now is the time to dive in. With new features rolling out regularly, Teams is more than just a tool for today—it’s the foundation for the future of work. Don’t miss out on the opportunity to take your business to the next level with Microsoft Teams. Reach out today to learn how you can integrate Teams into your operations and unlock a new world of possibilities.

Profile of Allen Olayiwola

Allen Olayiwola is a seasoned cloud architect and systems administrator with expertise in leading technical teams to create innovative platforms. As CTO of eSolutions Consulting, he has spearheaded major projects like the Office 365 rollout for Ghana’s government and infrastructure deployment for the Ghana Revenue Authority. Recognized for his strategic use of emerging technologies, Allen has led his team to multiple Microsoft Partner of the Year awards, solidifying his role as a key leader in tech-driven business transformation.

If you’d like to explore how these strategies can help your organization thrive, reach out to discuss tailored solutions for your business growth journey. He can be reached via allen@esolutionsghana.com and or 0540123034

Zenith Bank Ghana has distributed specialised protective footwear to 1,000 underprivileged children in localities where the Bank operates. The initiative, dubbed the “Happy Soles Project”, is part of the activities undertaken to celebrate the Bank’s 19th anniversary.

It focused on providing prophylactic shoes (specially designed, long-lasting shoes infused with antibacterial agents to promote hygiene, healing and comfort) to underprivileged children in schools and orphanages in the communities where the Bank operates. The locally manufactured shoes are made with biodegradable ethylene-vinyl acetate (EVA) foam to reduce waste and environmental impact and addresses the negative impact of poverty and preventable diseases among underserved populations.

Beneficiaries of the initiative included Tsokome M/A Basic School in Kokrobite Accra, Mama Happy Orphanage and School in Tema New Town, Ashaiman Government School No. 1, Aboabo Kese D. A. Basic/JHS in Kumasi, Sacred Heart Academy in Bolgatanga, Whindo M/A Primary and Junior High School in Takoradi, Tamale Children’s Home and Nkrankrom L/A Basic School in Techiman.

Other institutions that received the Bank’s support were the Koforidua School for the Deaf and Individuals with Intellectual and Developmental Disabilities, Gaddiel Acquaah Methodist ‘A’ Basic School in Tarkwa, Archbishop Amissah Memorial Basic School in Cape Coast, Wawasua L/A School in Sunyani, Tortibo D/A Basic School in Akosombo and Adaklu Seva D/A Basic School in Ho.

Speaking at the presentation ceremony in Accra, Raymond Azungah, Group Head – Marketing at Zenith Bank stated that the Happy Soles Project was the Bank’s means of addressing a crucial need of underprivileged children by providing them with proper footwear for their educational pursuits. “At Zenith Bank, we believe that businesses thrive when they support the communities where they operate.

The Happy Soles Project underscores Zenith Bank’s commitment to investing in the best people and environment and fostering a more equitable society where every child has the opportunity to thrive”.

 In sub-Saharan Africa, where Neglected Tropical Diseases (NTDs) and soil-transmitted parasites pose a major health threat to children and where over 200 million Africans, including many school-age children, are at risk of contracting soil-transmitted infections, preventive measures such as Zenith Bank’s Happy Soles Project not only improve children’s health but also enhance school attendance and educational outcomes.

The footwear’s antibacterial properties and biodegradable EVA foam aligns with environmental sustainability standards and withstands various climatic conditions, representing the Bank’s integrated approach to Corporate Social Responsibility (CSR). The Happy Soles Project forms part of the Bank’s broader CSR strategy, which focuses on education, health, ICT, human capital development and youth empowerment.

Goldman Sachs Research is forecasting another solid year of global economic growth in 2025.

Economists at the renowned US firm project that the US will outperform expectations while the euro area lags behind amid fresh tariffs anticipated from the Trump administration.

Worldwide Gross Domestic Product (GDP) is predicted to expand 2.7% next year on an annual average basis, just above the consensus forecast of economists surveyed by Bloomberg and matching the estimated growth in 2024.

US GDP is projected to increase 2.5% in 2025, well ahead of the consensus at 1.9%.

The euro area economy is expected to expand 0.8%, compared with the consensus of 1.2%.

China’s economy will however expand by 4.0%, whilst India will record 6.7% GDP growth rate.

“Global labor markets have rebalanced,” Goldman Sachs Research Chief Economist Jan Hatzius wrote in the team’s report, which is titled “Macro Outlook 2025: Tailwinds (Probably) Trump Tariffs.”

“Inflation has continued to trend down and is now within striking distance of central bank targets,” Hatzius said. “And most central banks are well into the process of cutting interest rates back to more normal levels.”

US, the world’s largest economy is expected to grow faster than other developed-market countries for the third year in a row. The re-election of US President Donald Trump is predicted to result in higher tariffs on China and on imported cars, much lower immigration, some fresh tax cuts, and regulatory easing.

“The biggest risk is a large across-the-board tariff, which would likely hit growth hard,” Hatzius added