CEIBS emphasizes entrepreneurship for managers to grow economy

Entrepreneurship and innovation should be the focus of higher educational institutions in the training of future managers for the Ghanaian economy, says Prof. Mathew Tsamenyi of the China Europe International Business School (CEIBS).

Business leaders, he says, need to understand the global direction of business and challenges therein to stay competitive.

To meet the capacity needs of top management in organizations, MBA and Executive MBA programmes are being marketed by Business Schools of tertiary educational institutions.

Prof. Tsamenyi says such programmes remain relevant so long as managers are empowered to think and act as entrepreneurs.

“At CEIBS our emphasis is to come up with programmes that are actually relevant to the socio-economic development of Ghana. We strongly believe that for Ghana and Africa to develop, entrepreneurship is very key,” he noted.

Ghana hosts the CEIBS Africa campus which has the mission to prepare highly competent, innovation-oriented managers and executives who are capable of leading and growing their organisations in the increasingly dynamic African economic environment.

Prof. Tsamenyi says products of the programme are excelling in their fields of endeavor and recording impressive impact on the economy.

“It’s always a debatable issue when it comes to measuring impact but clearly from our experience and evidence we’ve collected, the answer clearly is yes because so far we’ve actually produced over 120 graduates and they are all in very high positions in their organizations and their actions and decisions have had positive impact on the bottom line,” he stated.

The CEIBS is also emphasizing on developing the entrepreneurial skills of women and informal sector businesses.

Launched in 2008, the CEIBS Africa Programme offers an Executive EMBA programme, a Women Entrepreneurship and Leadership for Africa Programme, Executive Education Programmes, and a number of seminars and strategic conversations.

Story by Kofi Adu Domfeh

Ghanaian innovator to introduce vehicle that uses no fuel, no oil, no water

A Ghanaian innovator with the Suame Magazine Industrial Development Organization (SMIDO) is on the verge of a major historic breakthrough in automobile engineering.

Samuel Ampiah will be pushing the frontiers of the current global automobile engineering standards, when he unveils a new vehicle dubbed: SMATI Magnetic A by the first quarter of 2014.

The SMATI Magnetic A is a new global prototype vehicle under the trademark inscription of N-FOW, indicating a vehicle that uses No Fuel, Oil and Water.

According to Samuel Ampiah, who is leading expertise in the design of the current prototype, the SMATI Magnetic A is powered with direct current ranging from 12 volts to 60 volts energy.

“It is brushless induction motor with an alternator, transformers, output transistors, transmission gears and chargers, and has an effective charging system as it is driven, and has no limit to the distance that it can travel, so long as it is moving recharging is effective. It has speed ranging from 160 km/ph to 300 kilometers per hour either manual or automatic driven,” he explained.

 

The global automobile industry is moving towards fuel cell-powered vehicles – investing in the technology that uses hydrogen to generate electricity to power the engine and the waste products are heat and water. One of the main reasons is that it is emission-free.

The SMATI Magnetic brand of vehicles would therefore become the hallmark of Ghana and Africa in contributing to a new global revolution in the automobile industry.

Consultant to SMIDO, Nyaaba-Aweeba Azongo, says the SMATI Magnetic A is being designed to be the world’s most environmentally-friendly automobile that does not use fuel, oil and water for cooling, no carbon emissions and has virtually very little maintenance, which will save users some money.

According to him, the SMATI Magnetic A prototype is about 80% complete, and would be formally unveiled for the Ghanaian and global audience early next year.

The current prototype is a saloon car fitted with the SMATI Magnetic Drive which is a product of indigenous technology.

“Once completed, no fuel would be required to move the vehicle even if it is being driven from Ghana to Europe on land. It charges automatically upon movement and one requires the 1st 30km/hr to charge the battery which then automatically switches to the alternator. One can also plug it to electricity to charge,” stated Azongo.  

 

Samuel Ampiah is confident the vehicle will be in high demands because “apart from being affordable, the cost of maintenance is also virtually zero; it has all the requirements that the international community is looking forward to.”

Early this year, SMIDO unveiled the prototype SMATI Turtle vehicle, which is currently being exhibited in the Netherlands to attract global investors.

Mr. Azongo intimated that “shipping the new innovation to Europe would amount to mortgaging our collective conscience as a nation”.

He indicated that the vehicle would rather have to be considered on its own merit in Ghana, registered and certified to be used on the Ghanaian soil and investment pulled domestically to ensure mass commercial production in Ghana. 

The Suame Magazine Industrial Development Fund (SMID Fund) is currently supporting the SMATI Magnetic incubation to ensure the successful completion of the vehicle by the first quarter of next year.

President of SMIDO, Sarpong Boateng, who doubles as Chairman of the Mechanical Association of Suame Magazine, has hailed the breakthrough as a great revolution to deepen respect for artisan engineers as change agents in the wheels of nation development.

He has called on government to get actively involved in the successful outcome of this major global revolution from Ghana to showcase the Ghanaian ingenuity as a global brand and the prospects of Ghana’s socio-economic development.

Story by Kofi Adu Domfeh

African thought leaders to discuss key issues for sustainable growth

Investment, tax, remittances and aid will all be on the agenda when African thought leaders meet in Geneva to discuss how Africa can raise more and cheaper finance for inclusive and sustainable growth.

Organised by the Africa Progress Panel (APP), which is chaired by former UN Secretary-General Kofi Annan, the meeting will take place on Thursday November 28th, and will include former government leaders, economists, and experts on agriculture, fisheries, and infrastructure.

Among the participants are three former presidents, together with thought leaders from the IMF, United Nations, government, business, and media. The discussion will inform the 2014 Africa Progress Report, due for release in May, 2014.

“We’ve seen from the success of this year’s report how there’s a real thirst for honest and provocative analysis that will reset the agenda on Africa’s development issues,” says Caroline Kende-Robb, the Executive Director of the Africa Progress Panel.

“The great strength of the Africa Progress Report, and one reason why it has become so influential, is that the Panel’s combined experience and independence allows it to convene some of the best and brightest thought leaders and experts from all over the continent and indeed the world,” she said.

The 2014 Africa Progress Report will explore the ways in which Africa can raise finance and invest in its resource wealth – including agriculture and fisheries – to generate inclusive and sustainable growth.

Investments in infrastructure, skills, jobs, manufacturing, and other opportunities can also help Africa to unlock its potential for sustained and inclusive growth.

“Such growth would be transformational for Africa,” said Ms Kende-Robb.

Launched in Cape Town last May, the 2013 Africa Progress Report, Equity in Extractives, showed how Africa’s oil, gas, and mining sectors offer excellent opportunity to improve the lives of millions. But while the continent’s natural resource wealth has driven economic growth throughout the continent, it has not benefitted enough people.

“The Africa Progress Report is a game changer,” Donald Kaberuka, President of the African Development Bank, said after reading the 2013 report, which recommended policies and actions to inform not just the G8 Summit but also top-level audiences in the IMF, World Bank, UN Security Council, African Union, and even the Vatican.

“Once again, the Africa Progress Panel is saying what we all know but few want to admit,” Lanre Akinola, Editor of the Financial Times’ This is Africa, added.

“Participants on Thursday will have to work hard to earn their invitations, I’m looking forward to it,” Ms Kende-Robb said.

Transforming the Ghanaian grain market – GGC rescues farmers and industry

Work by the newly formed Ghana Grains Council is helping to transform the country’s grain market. Farmers are given the ability to obtain more affordable loans against the collateral of their grain, and food processors are better able to compete internationally, thanks to a cleaner, higher quality raw material.

Working with farmers in Ghana’s Northern, Upper West and Upper East regions, Premium Foods Ltd processes maize for Ghanaian breweries and for export. When it began trading in 1994, the company only bought grain that had been inspected by its officers after harvest. Yet a foolproof quality system could not be achieved, with harvested grains often contaminated with stones and metal particles.

Over recent years, the Government of Ghana has formulated several policies geared towards creating a supportive environment for the local grain industry. But clear ownership among targeted beneficiaries had been lacking.

However, with the establishment of the Ghana Grains Council (GGC) the situation has improved significantly. Incorporated in 2010, following a study by USAID which recommended establishing a private sector entity to improve competitiveness in the sector, the Council is mandated to represent the interests of private sector operators in Ghana’s grain industry.

 

“GGC came in at the right time,” says Prince Andoh, officer-in-charge of purchasing at Premium Foods. “What they are doing helps us as end-users because if we mill stones, it damages our machinery and this works against our competitiveness in the export market,” he explains.

The Council is keen on developing and enforcing standards to bring about competitiveness in the sector - achieving this mainly through the establishment of a warehouse receipt system. “Whether you are involved in production, trading or warehousing, we believe that working in an association like the GGC gives you a bigger platform to enhance what you’re doing,” says Dr Kadri Alfah, GGC chief executive officer.

A marked improvement

The GGC’s target groups cut across the grain value chain, and include producers, processors, warehouse operators, financial institutions and other service providers. According to processors, the introduction of minimum standards and grain grades (colour, level of disease, insect damage), and the establishment of the warehouse receipt system are the Council’s most significant interventions. “Once there is grading, it makes our work easier,” says Andoh. “In the end we get the quality of produce that we expect and the challenge of sorting grains containing foreign matter is all in the past.”

Initial challenges for the GGC included explaining the mandate of the Council and ensuring that interventions on warehouse certification and pre- and post-harvest training actually reached the target groups, especially the farmers.

But Alfah notes that “good progress” has been made in building a broad membership base, and through partnerships with USAID and the Alliance for a Green Revolution in Africa, a network of farmers has now been trained on best practices in grain handling and storage.

Farmer sensitisation sessions have also helped improve the industry: farmers are now conscious of producing premium quality grain and adhering to standards to obtain a premium price for their produce. “If you have good quality, you have a good market,” notes Alhaji Zakaria Alhassan, director of Gundaa Produce Company, a grain trading company in Tamale.

With 25 years of experience in the business of producing and marketing grains, he understands that lack of storage facilities increases postharvest losses and constrains the income levels of small-scale food producers. “The farmers don’t know where to store the maize; some of them are storing in their houses, and when they’re ready to sell, often the maize has rotted,” he says.

A win-win situation

Today, over 3,000 smallholder farmers under the GGC in the Northern Region have more control over the weighing and pricing of their produce with the establishment of a 500 t GGC certified warehouse for grain storage, funded by USAID. “Two months after establishment, the warehouse is currently full of maize,” says Zakaria.

With the establishment of the warehouse, farmers’ grain is cleaned, packaged and stored under the warehouse receipt system. While the GGC, under a project that was supported by the Common Fund for Commodities, currently works with only four commercial banks – the Agricultural Development Bank, Ecobank, CCH Finance and Stanbic

Bank - the system is expected to help build confidence amongst financial institutions to invest in agricultural enterprises.

Zakaria believes that more financial institutions need to come on board to sustain funding for the scheme.

In pursuit of its mandate to increase quality, productivity and profitability in the grain value chain, the GGC has engaged the Ghana Standards Authority and other bodies in reviewing existing standards for major grains, including maize, rice, soya beans and sorghum.

 

Alfah describes the GGC’s collaboration with the public sector as a win-win situation, especially as a means to upscale the warehouse receipt system. However, he notes that the Council wants to remain an autonomous private entity. “To function as an entity, GGC has its own sustainability plans and revenue generation plan, so that it can stand on its own, with or without donor support,” he says.

Story by Kofi Adu Domfeh

(Article originally commissioned for the Special Issue of CTA’s Spore magazine http://spore.cta.int/en/).

M.Y. Ventures partners Nhyira Fm for 2013 Keepfit Games

M. Y. Ventures, a leading primary health centre in Ghana, is investing in Nhyira Fm’s Keepfit and Family Fun Games to advance its healthy living campaign.

The firm is the title sponsor for the 2013 edition of the event, scheduled for Saturday, December 14 at the Ridge Park, Denyame in Kumasi.

“M.Y. Ventures delights in promoting good health and we know exercising the body is another way of staying healthy; that is why we have decided to be the title sponsors so as to help build the well-being of our publics,” said Dr. Caesar, Chief Executive of M.Y. Ventures.

Nhyira Fm, the number one Akan radio station in Ashanti region, has hosted keep fit, fan and social clubs in the past six years to compete in various sporting activities to stay healthy, network and socialize.

Various clubs battle for laurels in 50 meter dash race, 5-aside football, volleyball, Table Tennis, Tug-of-War, Weight Lifting, High Jump, “Jama” contest among others.

Nhyira Fm’s Programmes Manager, Benjamin Fiifi Ocran, says the event is continually evolving in innovation to be to be more attractive and exciting to patrons, stating that this year’s will not be an exception, especially with the brass band (soloku) contest.

In last year’s edition, M. Y. Ventures Keepfit Club dominated both track and field events, emerging overall winners as they placed first on the medals table.

“It’s not about sickness but the need to strengthen the cardiovascular and excrete toxics in the system…drugs alone cannot help us; but regular exercise and consumption of good food at the right time are critical to maintaining good health,” said Dr. Caesar.

Factors such as tight work schedules, production deadlines and other work-related stress are challenges driving the country’s labour force to either neglect matters of personal health.

M.Y. Ventures has initiated the Healthy Living Campaign dubbed “Wellness at Work; Ensuring a Happy, Healthy Workforce” to incorporate achievable, small steps for healthy eating and physical activity into everyday life.

“It is said by one philosopher that a healthy mind is in healthy body so there is the need for people to be healthy through eating of good diet, taking in of food supplement which we deal in and more importantly exercise the body,” said Dr. Caesar.

M.Y. Venture provides alternative natural healthcare and provides quality food supplements and natural health care services.

The 2013 Keepfit and Family Fun Games is supported by Cofkans Electricals, Geopo Images and Prints, Ascam Bakery and London School of Commerce.

Story by Kofi Adu Domfeh 

Sports Ministry brands Ghana to milk benefits of World Cup 2014

Ghana is going to the FIFA World Cup tournament in Brazil 2014 to compete with the world in the global soccer challenge.

The West African country is highly excited at the third appearance and Ghanaians are gearing up for full representation at the football event.

For most Ghanaians, the peak of their excitement lies in seeing the country’s senior national team, the Black Stars, go to the very finals and most importantly win the much-cherished World Cup trophy.

Ghana made an impressive mark in South Africa 2010 and the pride of the country was up high globally, but the country failed to adequately take advantage of the tournament to market and brand the sporting and economic potentials to attract foreign investments.

“In the past two World Cups, I don’t think we were able to milk the positives, in terms of branding and positioning the nation Ghana as a brand that has potential not only as a football nation but in investment and sports tourism,” admits Elvis Afriyie Ankrah, Minister of Youth and Sports.

He however wants the 2014 World Cup to be an exception. According to him, a concept paper is being finalized to promote the county’s sports tourism and investment potentials in Brazil.

A team of interest groups, including media, sports personalities and business community will work together to work with the concept paper, which will include establishing a ‘Ghanaian Village’ to engage tourist and investor’ interest in Brazil through series of events and fairs.

“We’re going to use the platform of the World Cup as an avenue to create awareness about Ghana and brand Ghana so that the brand value that we’re going to derive from the team would make an impact on the country,” stated the Minister.

Story by Kofi Adu Domfeh

Climate talks birth breakthrough agreements - $280m financing pledged

In a face-saving measure to mitigate the effect of yesterday’s walkout by civil society organisations, governments at the UN Climate Change Conference in Warsaw on Friday agreed to a set of decisions on ways to reduce greenhouse gas emissions from deforestation and the degradation of forests.

The agreement on the so-called REDD+ initiative is backed by pledges of $280 million in financing from the US, Norway and the UK.

Speaking under strict conditions of anonymity, a lead negotiator from West Africa confirmed that the major push for the breakthrough came from the historic walkout by the civil society organisations. He further revealed that “decisions adopted provide guidance for ensuring environmental integrity and pave the way towards the full implementation of REDD+ activities on the ground.”

 

The package also “provides a foundation for transparency and integrity of REDD+ action, clarifies ways to finance relevant activities and how to improve coordination of support.”

President of the Conference, Marcin Korolec, said “I am proud of this concrete accomplishment. We are all aware of the central role that forests play as carbon sinks, climate stabilizers and biodiversity havens. We know the destructive impact that forest fires and deforestation have on peoples and economies. Through our negotiations, we have made a significant contribution to forest preservation and sustainable use which will benefit the people who live in and around them and humanity and the planet as a whole.”

 

Responding on behalf of the civil society organisations, Mithika Mwenda of the Pan African Climate Justice Alliance (PACJA), in a statement, welcomed the breakthrough agreement on the REDD+ initiative and the pledges from US, Norway and the UK but kicked against “the absence of a stricter framework that will ensure that these new pledges do not go the way of previous pledges that are being modified and shifted at whim by the developed countries.”

Mwenda also stressed the need for the conference to redeem its image by “tackling the complete failure of rich countries to deliver on existing promises on long-term finance which put the most vulnerable people in Africa and other parts of the world at risk.”

Christiana Figueres, Executive Secretary of the UN Framework Convention on Climate Change (UNFCCC) believes otherwise.

 

According to her, “Governments have shown their firm commitment to reduce emissions from deforestation and forest degradation in Warsaw. They have delivered a set of decisions that will make a significant impact in reducing emissions from deforestation and forest degradation in developing countries and catalyze actions in this critical area of addressing climate change.”

Minister advocates integrated approach to address housing deficit

Potential home owners and other individuals interested in improving their homes have an opportunity to access housing products and services at a one-stop shop in Kumasi.

The 4^th edition of the Multi TV Habitat Fair in the Garden City begins on Friday 22^nd – Sunday 24^th November at the Golden Tulip, Kumasi City.

Opening the Fair, Ashanti Regional Deputy Minister, Samuel Yaw Adusei, observed that the realistic way of addressing Ghana’s housing challenges is for all industry partners to collaborate, “with government playing a major role”.

He says real estate developers must dialogue with financial brokers and civil society for integrated approach to housing planning and delivery.

“To realize the requisite human, financial and material mis to sustain our fight against the housing deficit there must be an urgent need for industry players to refocus and redesign strategies for sustainable housing delivery in the country,” stated Mr. Adusei.

This, he noted, calls for efforts to develop and use local building materials in order to reduce cost and ease pressure on the depleting forest resources.

Statistics show Ghana requires at least 10,000 housing units annually in the short to medium term to solve the country’s housing deficit. The present shortfall puts the poor and even the working class in constant need of residential accommodation.

Multi TV is collaborating with private developers and financial services institutions to explore affordable housing opportunities.

The Deputy Minister observes cumbersome and insecure land acquisition procedures, inadequate incentives and capacity support for private sector need to be tackled holistically to bring an ending solution to Ghanaians.  

He adds government's policy objectives are geared towards addressing the housing deficit by accelerating delivery in both rural and urban areas.

Mr. Adusei commended the Multimedia Group for the initiative while encouraging industry players to take advantage of the platform to improve their operation.

The three-day event covers a broad range of products and services in the housing industry comprising works related to both interior and exterior.

Exhibitors would have the platform to sell directly to over 10,000 potential clients, and have the opportunity to interact with target market, get immediate feedback on product range, run sales promotion of  product and services among others.

Business Manager of Multimedia Group in Kumasi, Jimmy Aglah, who highlighted the rationale for Habitat Fair, was optimistic the Kumasi version would be a success.

Exhibitors are also ready to provide better services and products to clients at the Fair.

Story by Kofi Adu Domfeh 

Africa leads walkout of Warsaw Climate Talks

Negotiations at the ongoing climate talks in Warsaw took a dramatic turn on Thursday as over 800 delegates representing different civil society organisations staged a historic walkout at the conference.

The delegates are under the umbrella of an amalgam of civil society organisations from Africa, Europe, Asia and the Americas led by the Pan African Climate Justice Alliance (PACJA), Greenpeace International, Oxfam, WWF, and ActionAid. Others include the International Trade Union Confederation, Friends of the Earth Europe and 350.org.

Citing frustration and disenchantment with the clear absence of commitment to agreements by developed countries, the groups maintained that their decision to walk out was the best in the circumstances as the Warsaw conference is already primed to arrive at a fruitless pitch.

 

Delegates carrying placards with messages such as “enough is enough,” “Polluters talk, we walk,” and “we demand climate justice now” marched through the stadium before assembling outside to make speeches.

Mithika Mwenda of the Pan African Climate Justice Alliance (PACJA) singled out Japan’s goalpost-shifting tactics as well as the “brazenly cold disposition of USA, Canada, Russia and Australia to immediate and deep emission cuts, changes to the development pathways, climate finance and technology transfer, and global emissions budget” as major pointers to the impending failure of the Warsaw conference hence the inevitability of the walkout.

 

According to Tasneem Essop of WWF, 800 civil society members have walked out believing that “the best use of their time” was now to focus “on mobilizing people to push our governments to take leadership for serious climate action.”

In a similar vein, Kumi Naidoo of Greenpeace declared to the surging crowd “The real hooligans are the CEO’s of fossil fuel companies.”

In its statement of support, 350.org stated that “It’s powerful to see groups from across civil society coming to the same conclusion that in order to keep open any hope of an international climate treaty, we need to challenge the power of the fossil fuel industry. By walking out of COP19, we’re walking into a fight with the real enemies to progress: the coal, oil and gas companies that have a stranglehold over our governments and economy. It’s time to stop sitting in negotiating halls and stand with the Philippines and millions more who are calling for real climate action in the aftermath of Typhoon Haiyan.” 

 

The well-coordinated walkout, which took the Polish national stadium venue of the conference by storm was greeted with shock and disbelief by the conference secretariat and the UNFCCC.

In a swift reaction, Marcin Korolec, the sacked Polish Environment Minister who still chairs the COP in a statement declared, "I regret the fact that some NGOs decided to leave the COP19 climate conference to express their disapproval towards the extending negotiations. The climate conference and non-governmental organizations share common goals – all of us want to ensure effective climate protection. Non-governmental observers have always mobilized negotiators to greater efforts and ambitions.”

Korolec ended his statement on a positive note, asking the CSOs to reconsider their decision as “today in the morning after all-night negotiations, we have achieved considerable progress on climate finance. The talks about the shape of a new global agreement were also held throughout the night. I am convinced that we are getting closer and closer to the final success. I hope that the voice of NGOs will remain present in the discussion on how to solve the most important problems of our planet."

The 2013 Climate conference in Warsaw has been bogged down by several issues including the sack of the COP President in a Polish government reshuffle on Wednesday, the controversial hosting of the World Coal Summit in Warsaw on Monday, Japan’s declaration of its inability to abide by a previous pledge to emission cuts and the historic action by the civil society organisations.

However, The U.N.'s climate chief, Christiana Figueres, believes that the conference would achieve its goals as "Everybody is working very hard; everybody is working through the night; there is nobody here who is lazy."

Trade and Industry Ministry endorses beauty pageant to drive goods made in Ghana

There have several attempts to encourage Ghanaians to patronize locally produced goods and services.

The drive has however yet to achieve maximum impact to sustain and grow local businesses as well as create employment.

The Ministry of Trade and Industry is now supporting A2Z Firm Movement to hold a beauty pageant with the intent of intensifying the campaign for Ghanaians to use what is locally produced.

Ten contestants are vying for the ‘Miss Buy Ghana’ 2013 holding at the Kwame Nkrumah University of Science and Technology (KNUST) from 21-23 November, 2013.

Director of Domestic Trade at the Ministry, Kwadwo Ntim Atuahene describes the event as “a radical approach and strategy towards the promotion of made in Ghana goods.

“Miss Buy Ghana is an event to select one or three ladies who will be the Ambassadors for one year for the promotion of Made-in-Ghana goods and services; these ladies will traverse the country to sell the idea and encourage people to buy made in Ghana,” he stated.

The event includes a three-day exhibition for made in Ghana products.

“We need to assist our industries to grow and one way of assisting them is to create demand for their products and services; that is we the indigenes, Ghanaians, should patronize their products before thinking of people from outside,” said Mr. Atuahene.

Story by Kofi Adu Domfeh

Low deposits hit Ghana’s financial services industry

Commercial banks in the country have in recent times had to devise strategies to tackle the low savings among the banking public.

Promotional activities to drive deposits mobilization abound on the market as part of moves by the banks to compete with non-bank financial institutions who promise high interest on deposits.

“There is some dryness in mobilization of deposits and with 26 of the universal banks, it becomes very competitive, hence the various promotions that they are all doing to mobilize savings,” observed banking expert, Nana Otuo Acheampong.

Some of the banks are currently recording savings’ improvements in their ‘deposit and win’ promos, though it is not clear how long this will be sustained.

However, microfinance institutions have not been spared the challenge of mobilizing savings to boost their capital base.

Luv Biz Report enquiries also indicate rural and community banks are struggling over deposits.

“We are operating from rural communities and savings is a big challenge,” says Isaac Kwasi Asante, Board Chairman of Amanano Rural Bank. “Therefore driving deposits to use as the tool to drive your business become a very big challenge.”

According to him, the banks are however striving to effectively manage the little savings in order to grant loans to people.

Mr. Asante entreats financial institutions to be circumspect in managing depositors’ funds to instill confidence in the banking industry.

“People who are into these businesses use depositors’ funds to finance capital expenditure; if you don’t have the funds to expand, you don’t use depositors’ funds because a depositor can come at anytime to request for his funds,” he stated.

He noted the need for banks t plan their expansion projects with at shareholders’ funds to avoid mismanagement of depositors’ funds.

Story by Kofi Adu Domfeh

Presidential Charter to regulate professional banking in Ghana

The Chartered Institute of Bankers (CIB-Ghana), through the Education Ministry, is finalizing a bill that will accord it a strong legal backing to run professional qualifications for banking practice in Ghana.

The ‘Presidential Charter’ will qualify bankers to be appointed to certain positions based on acquired certification, says Clifford Mettle, President of the Institute.

According to him, the Charter “will embolden the Managing Directors of the various banks to place our students in the right positions that they have actually achieved – we want to place bankers where bankers belong”.

Speaking to Luv Biz Report at the opening of a Institute of Bankers branch office in Kumasi, Mr. Mettle said the Charter is of prime importance to all bankers in holding positions of authority.

“If you are an engineer, you need an engineer’s qualification to work as an engineer in an engineering firm. Similarly, the institute wants to make sure that we also chart the same cause; if you want to hold a position in the bank, you should have the certificate of professionalism,” stated Mr. Mettle.

CIB-Ghana is the professional umbrella body for banks and other financial institutions in Ghana.

Chief Executive Officer of the Institute, Anthony Yaw Oppong, says the Kumasi office of the institute will serve the Northern sector of the country.

“All the activities that we embark during the year, we’ll bring part to Kumasi so that our members will not necessarily come down to Accra before they can access our services,” he said.

 

The Institute is currently embarking on a Compulsory Continuous Professional Development for its members.

Story by Kofi Adu Domfeh

Negotiators laud African civil society group at climate talks

The contributions of African civil society organisations to the consolidation of the African position at the ongoing Climate talks in Warsaw have been described as “integral and far-reaching”.

The Chair of the African Group of Negotiators (AGN), Dlamini Emmanuel, expressed his appreciation of the activities of the CSOs at a meeting with the coalition of African civil societies led by the Pan-African Climate Justice Alliance (PACJA).

The AGN Chair expressed his satisfaction with PACJA’s collaboration with his team and reiterated his team’s commitment to the cry of African people as it relates to ensuring poverty eradication and food security, keeping the continent safe, sharing the atmosphere fairly, and ensuring that industrialized countries cut excessive consumption and pollution with emphasis on protecting and compensating affected communities as well as transferring the tools to adapt and develop the continent.

 

As the negotiations at the 19^th session of the Conference of Parties (COP19) under the United Nation Framework Convention on Climate Change entered the fifth day, Dlamini has assured the civil society that though the negotiation process is a slow and gradual process.

He is hopeful there will be a solution by the end of the day.

Secretary-General of PACJA, Mithika Mwenda, appreciated Dlamini Emmanuel’s continued engagement with African Civil societies over the past two years and his commitment to Africa.

Mithika assured him of the coalition’s readiness to continue to partner with the negotiating group in every possible ways towards a concrete outcome for the continent in Warsaw.

The civil society is prioritising the safety of the African continent. “We support the acceptance of ‘loss and damage’ as a key area of discussion for the new climate agreement,” said Mithika.

However, the African Civil Society was quick to point out that as the negotiations advance to the next level, the African negotiators must be careful so that the ‘loss and damage’ agenda is not reduced into a disaster response agenda.

“This is beyond disasters. The ocean is already absorbing a lot of heat and this has a direct effect to climatic conditions,” said Mithika.

Other demands by the African Civil Society organisations touched on finances, where they want the developed countries to commit at least 1.5 percent of their GDP to climate change adaptation and technology transfer for the developing countries.

They also want the previous commitment of ensuring the rise of the global temperatures do not exceed 1.5 degrees Celsius be reinstated instead of the new commitment of limiting the rise to 2 degrees Celsius.

“A goal of less than 2 degrees Celsius is no longer ambitious, and accepting it would be condemning Africa to incineration and to no modern development,” said Mithika.

Ghana among African mAgriChallenge winners to compete with top entrepreneurs

Two apps from Kenya, one from Senegal, and one from Ghana are the African winners of the mAgriChallenge, a competition designed to identify entrepreneurs developing innovative mobile applications for agriculture and agribusiness, and to provide them with resources to grow their businesses.  

The four winners are participating in Mobile Startup Camp and a concluding pitching contest in front of angel investors and industry experts in Washington, D.C.  The Startup Camp, organized by infoDev, a global innovation program in the World Bank Group, is designed to accelerate the growth of early-stage entrepreneurs.  

The four winning ventures are Farmerline from Ghana which uses voice and SMS to collect data, share new techniques, and better link smallholder farmers to others along the agricultural value chain; Intellect Tech from Kenya which helps farmers and insurance firms track compensation claims in real-time; Price Calculate from Kenya, an app that aids agricultural producers to calculate the competitive price at which they can offer their products; and mLouma from Senegal, which connects farmers to food purchasers by displaying real-time market prices and localizations. 

The competition unearthed very interesting applications, remarked Arjun Thomas, Global Product Manager for Nokia Life, and member of the jury consisting of mobile sector experts and angel investors. He said “as these startups grow, adapting the business case to ensure steady and versatile revenue generation streams will be critical to their success."

The combination of agriculture and mobile technology seems a winning one. Today, there are close to 900 million mobile phone subscribers in Africa.

Mobile innovations are already improving efficiencies in the agricultural value chain; research shows that grain traders with mobile application usage experienced income growth of 29% and banana farmers in Uganda saw their revenues go up with 36%.

 

The mAgriChallenge winners, along with 14 more high-potential and innovative startups from infoDev’s mobile incubation network, are participating in the five-day program of lectures and hands on workshops to refine their business models and marketing pitches, sharpen their negotiating skills and network with investors and peers. The Startup Camp is supported by the government of Sweden.

 

Many apps competitions have ended with the award of prizes, missing the chance to continue to support talented entrepreneurs as they develop their businesses, says Valerie DCosta, infoDev’s Program Manager, explaining the idea behind Startup Camp.

“We want to support mobile technology entrepreneurs as they take their products from the idea stage to a point of sustainable growth,” she stated.