Development – Business Week Ghana https://businessweekghana.com Accurate Relevant Revealing Mon, 02 Nov 2026 08:00:16 +0000 en-US hourly 1 https://businessweekghana.com/wp-content/uploads/2024/06/236876004_233005352166311_6788365974847027779_n-150x150.jpeg Development – Business Week Ghana https://businessweekghana.com 32 32 CEOs Must Lead Ghana’s Reset Through Production, Integrity and People Development — Ishmael Yamson https://businessweekghana.com/ceos-must-lead-ghanas-reset-through-production-integrity-and-people-development-ishmael-yamson-2/ Mon, 02 Nov 2026 08:00:16 +0000 https://businessweekghana.com/?p=73809 By Kofi Ahovi

Business leaders urged to drive local production, uphold ethical leadership and develop the next generation as Ghana prepares for its future

Founder of Ishmael Yamson & Associates, Dr. Ishmael Yamson, has challenged chief executives and business leaders to take a more active role in Ghana’s economic transformation, urging them to prioritise local production, ethical leadership and investment in people.

He said the success of Ghana’s economic reset agenda depended not only on government policies but also on the everyday decisions businesses make about what they produce, whom they employ, how they pay taxes and how they treat workers and customers.

Dr. Yamson made the remarks at the Ghana CEO Vision High-Level Dialogue 2026, held in Accra under the theme “Reimagine Ghana’s Future: CEOs at the Heart of the Reset Agenda.” The dialogue preceded the Ghana CEO Awards ceremony scheduled for Friday, October 30.

Executives in this room are among those leaders. You cannot watch the reset from the stands. It will be won or lost in the choices you make: what to produce, whom you hire, what taxes you pay, and how you treat your employees and your customers,” he said.

Dr. Yamson argued that Ghana’s economic challenges were partly rooted in decisions made by its own leaders and citizens, cautioning against blaming external institutions for conditions the country could address through responsible governance and disciplined economic management.

He said the country needed to move beyond repeated cycles of economic difficulty and focus on the structural changes required to build a productive and resilient economy.

I have said that the overwhelming majority of our problems are homegrown and self-inflicted,” he stated, adding that Ghana must learn to make difficult but necessary decisions rather than rely continually on external support.

Prioritise local production and innovation

Dr. Yamson identified increased domestic production as one of three priorities for business leaders, urging chief executives to invest in Ghanaian industries, technology, innovation and new ideas.

He expressed concern about Africa’s limited contribution to global innovation and questioned how long the continent could depend on technologies developed elsewhere while aspiring to achieve economic independence.

New ideas, new thinking, new technology — those are the things that are changing the world today. What is our contribution as Africans and as Ghanaians? Can we forever import technology from outside and claim to be independent? We can’t,” he emphasized.

He also criticised the country’s dependence on imported goods, particularly food, despite its considerable agricultural potential.

According to him, businesses must look beyond importing and reselling foreign products and explore opportunities to produce goods and develop solutions locally, creating jobs and retaining more economic value within Ghana.

Integrity must define leadership

The second priority, Dr. Yamson said, was integrity and ethical leadership, which he described as central to his own professional journey.

In my own career, right from day one, only one thing has shaped my life and my career, and that is leading with integrity and ethics,” he stressed.

He urged chief executives to recognise that leadership positions carried responsibilities beyond personal achievement or corporate profitability.

According to him, leaders must be judged by the difference they make in their organisations and in the lives of ordinary Ghanaians.

A leader must make a difference. You must add value,” he said, challenging executives to consider the legacy they would leave behind.

He cautioned that businesses and national leaders who prioritised personal interests over the broader public good risked perpetuating the same challenges that had constrained Ghana’s development over the years.

Invest in the next generation

Dr. Yamson’s third recommendation was for business leaders to deliberately develop future generations of leaders, warning that decisions taken today would shape Ghana’s social and economic conditions for decades.

If we, as leaders today, continue to make the same decisions, the same choices that they made, we cannot expect a reset Ghana five, 10, 20 or 50 years from now,” he said.

He urged executives to think beyond immediate business results and consider the kind of country they wanted future generations to inherit.

He also called for a greater willingness to make difficult decisions in the national interest, rather than choices driven by personal benefit or short-term considerations.

Dr. Yamson illustrated the urgency of Ghana’s development challenges by referring to worsening traffic congestion, recalling that a journey that once took him about 20 minutes to attend church now took approximately one hour and 40 minutes.

That’s not the Ghana I want to live in,” he said, calling for a fundamental rethink of how the country planned its development and addressed persistent infrastructure and productivity challenges.

UNESCO calls for private-sector-led transformation

Also addressing the dialogue, Edmond Moukala N’Gouemo, Director of the UNESCO Ghana Office, urged businesses to broaden their definition of success by measuring their contribution to society alongside conventional financial performance.

He said the private sector had a crucial role to play in addressing poverty, inequality and gaps in access to essential services, including healthcare, education, clean water and energy.

The world we hope for will not be created by conversation alone, but by the action we take together,” he said.

Moukala called on companies to invest strategically in vulnerable communities and underserved regions, arguing that such investments could strengthen the workforce, expand markets and support sustainable business growth.

He urged chief executives to look beyond quarterly profits and consider how their operations and supply chains could help communities become more resilient.

Imagine recognising a CEO not only for what they are making in quarterly profit alone, but the percentage of their supply chain that has moved from vulnerable to resilient,” he remarked.

He added that supporting vulnerable populations should not be viewed merely as charity but as a strategic investment in the people and communities on which businesses depend.

Moukala also called for stronger partnerships among government, the private sector and development institutions to accelerate progress towards the Sustainable Development Goals.

CEOs urged to turn dialogue into action

Earlier, Latif Abubakar, founder of the Ghana CEO Awards, said the dialogue was designed to encourage business leaders to move beyond discussions and develop partnerships and ideas capable of contributing to national development.

Ghana’s reset agenda requires bold ideas, responsible leadership, strategic partnerships and the courage to turn challenges into opportunities,” he said.

He stressed that the private sector had a critical role in driving investment, creating jobs, stimulating innovation and building an economy that worked for all.

Abubakar encouraged participants to use the platform to ask difficult questions, exchange ideas and pursue partnerships that could translate into measurable results.

The dialogue formed part of activities leading to the Ghana CEO Awards, scheduled for Friday, October 30, which will recognise individuals and organisations for excellence, innovation, resilience and outstanding leadership.

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REGSEC Declares Nmai Djor a Security Zone; All Development Suspended Amid Escalating Land Dispute https://businessweekghana.com/regsec-declares-nmai-djor-a-security-zone-all-development-suspended-amid-escalating-land-dispute/ Sat, 31 Jan 2026 00:23:34 +0000 https://businessweekghana.com/?p=69172 The Greater Accra Regional Security Council (REGSEC) has declared the disputed Nmai Djor lands within the Adenta Municipality a security zone, deploying a joint Military and Police task force to the area to forestall any breach of peace.

The decision, announced on Thursday, January 30, 2026, follows rising tensions between the Nungua Traditional Stool and the Okpelor Sowah Din Family, sparking concerns over possible violence in the enclave.

Addressing a press conference, the Greater Accra Regional Minister, Linda Obenewaa Ocloo, said the intervention had become necessary to avert a security breakdown and protect lives and property.

With immediate effect, REGSEC has imposed a total ban on all construction and development activities within the disputed area, pending the final determination of the matter by the courts.

“I wish to inform the general public that the enclave has been declared a security zone. With immediate effect, all developmental activities must cease until further notice, pending the final decision of the court,” the Minister stated.

She warned that any individual or entity that flouts the directive will face strict enforcement measures, including the demolition of unauthorized structures.

“Any person who continues development in defiance of this order shall be liable to appropriate enforcement action, including demolition,” she stressed.

The Nungua Traditional Stool has consistently maintained that the Nmai Djor lands are its ancestral property. The Nkpor Mantse of Nungua, Nii Afadi Nsuro, has issued a stern warning against what the Stool describes as unlawful encroachment by the Okpelor Sowah Din Family and their associates.

He disclosed that the Stool is prepared to exhaust all legal avenues, including criminal prosecution for fraud and contempt of court, to protect its interests.

The Stool has also raised concerns over the alleged involvement of unnamed political actors, accusing them of encouraging illegal land transactions despite the matter being under active litigation.

According to the Nungua Stool, a stay of execution and an appeal remain pending in the Ashalley Botwe land case (Suit No. L/2970/1993), rendering any sale, entry, or development on the land an act of contempt of court.

The Stool has therefore cautioned prospective buyers to steer clear of any land dealings with the Okpelor Sowah Din Family concerning the Nmai Djor lands, warning that such transactions carry a high risk of protracted legal battles and total financial loss.

With security personnel now firmly deployed in the area, the Regional Minister reiterated that government will not tolerate any breach of the directive as the judiciary works to resolve the complex historical and legal claims surrounding the disputed lands.

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Governor Calls for Partnership Between Banks and BoG to Drive Development https://businessweekghana.com/governor-calls-for-partnership-between-banks-and-bog-to-drive-development/ Tue, 07 Oct 2025 13:52:45 +0000 https://businessweekghana.com/?p=67199 The Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, has called on heads of banking institutions to partner with the central bank to drive economic development. Speaking at a post-Monetary Policy Committee (MPC) engagement with heads of banks, Dr. Asiama emphasized the need for close collaboration to sustain stability, deepen credit to productive sectors, and expand exports.

The MPC had recently reduced the monetary policy rate by 350 basis points to 21.5%, a move aimed at supporting the disinflation process while nurturing growth. This decision reflects the Bank’s confidence that inflation will remain within the medium-term target band of 8 ± 2 percent by the end of the fourth quarter.

Bank of Ghana, Development, Policy rateDr. Asiama highlighted the country’s strong economic performance, including a decline in inflation to 9.4% in September 2025, and a growth rate of 6.3% in Q2 2025. He also commended the banking industry for maintaining strong performance and resilience, with a Capital Adequacy Ratio of 17.7% and a decline in non-performing loans to 20.8%.

The Governor emphasized the importance of partnership between the Bank of Ghana and the banking industry to deepen the interbank foreign exchange market, enhance price discovery, and smooth volatility. He also called on banks to design and promote export-oriented financial products, support SMEs and agribusiness, and adhere to domestic regulatory provisions.

We recognize the resilience of our economy and the steady progress toward full stability,” Dr. Asiama said. “However, the task of consolidating stability is a shared one, and we need to work together to achieve our goals.”

Bank of Ghana, Development, Policy rateThe Bank of Ghana has also commenced foreign exchange intermediation under the Domestic Gold Purchase Programme, with plans to sell up to $1.15 billion for the month, to enhance liquidity and stability in the foreign exchange market.

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PRINPAG and TUDEC Explore Media Collaboration for Development https://businessweekghana.com/prinpag-and-tudec-explore-media-collaboration-for-development/ Mon, 29 Sep 2025 19:44:51 +0000 https://businessweekghana.com/?p=67061 The Executive Secretary of the Private Newspapers and Online News Publishers Association of Ghana (PRINPAG), Mr. Jeorge Wilson Kingson, on Friday hosted a two-man delegation from the TUDEC Development Centre to discuss potential collaboration between the two organisations.

The delegation, led by TUDEC President Mr. Cafer Tepeli, introduced the organisation’s newly appointed Project Manager and Head of Media Relations, Mr. Mehmet Şimşek. Discussions centered on how PRINPAG and TUDEC could work together to strengthen journalism and media capacity while supporting broader development initiatives in Ghana.

PRINPAG, which has a membership of more than 120 newspapers and online news platforms, highlighted the financial and operational challenges facing Ghana’s media industry. These constraints, the Executive Secretary explained, had hindered activities and sustaining journalist training programmes.

The meeting explored opportunities for TUDEC to support PRINPAG’s initiatives, including training for journalists, international exchanges with sister associations in Nigeria and South Africa, and joint advocacy on the role of media in promoting peace, democracy, and development.

Mr. Kingson noted that previous capacity-building efforts, such as a training programme on election reporting and fact-checking, had been impactful, but required consistent support to continue. TUDEC’s representatives, in turn, underscored their commitment to education, dialogue, and humanitarian collaboration across Ghana, irrespective of race, gender, or religion.

Both parties agreed to pursue structured collaboration. Action points included drafting proposals for TUDEC’s support, and exploring regional partnerships. A follow-up meeting between TUDEC and PRINPAG’s National Executives has been scheduled in the coming days to refine these plans.

TUDEC, founded in 2011 as the Ghana-Turkey Co-operation and Development Association, is known for its work in education, charitable relief, peacebuilding, and cultural exchange. The organisation recently supported over 18,000 families during Eid-ul-Adha with food donations across 22 communities and has been active in promoting interfaith dialogue and peaceful coexistence.

By combining TUDEC’s development focus with PRINPAG’s media reach, the two organisations hope to create a stronger platform for advancing press freedom, professional standards, and social development in Ghana.

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HM the King Inaugurates, Visits Several Major Casablanca Port Complex Projects under Restructuring & Development https://businessweekghana.com/hm-the-king-inaugurates-visits-several-major-casablanca-port-complex-projects-under-restructuring-development/ Fri, 19 Sep 2025 13:28:36 +0000 https://businessweekghana.com/?p=66870 His Majesty King Mohammed VI on Thursday inaugurated and visited several major projects carried out as part of the restructuring and development of the Casablanca Port Complex, aimed at strengthening the economic and tourism appeal of this metropolis.

These projects are designed to consolidate Casablanca’s position as a leading economic and financial hub on the continent, fully open to the international sphere.

Mobilizing investments of around MAD 5 billion, the projects included the development of a fishing port, the construction of a new shipyard, the development of a cruise terminal, and the construction of an administrative complex bringing together all stakeholders of the Port of Casablanca.

Undertaken by the National Ports Agency, these projects reflect the constant will of His Majesty the King to equip the Kingdom’s economic capital with modern, internationally compliant infrastructure, capable of sustainably revitalizing the metropolis and meeting the legitimate aspirations of its inhabitants.

Thus, the Sovereign inaugurated the new fishing port (MAD 1.2 billion), expected to contribute to improving the safety, livelihood and working conditions of the city’s fishermen, creating a better environment for the marketing and promotion of seafood products, organizing the coastal and artisanal fishing sector, and developing related activities.

This port, designed to accommodate over 260 artisanal fishing boats and nearly 100 coastal fishing vessels, is equipped with an integrated infrastructure for the reception and marketing of fish products. It includes a next-generation fish market near the landing sites, a standardized container management unit, three ice production units, premises for shipowners, wholesalers, and boatmen, as well as a seafarers’ hostel.

HM the King then visited the new shipyard at the Port of Casablanca, which aims to restructure and develop the shipbuilding and repair sector in Morocco, attract more investment in this field, meet national demand as well as part of the international demand, and strengthen the Kingdom’s position on the global market.

With an investment of around MAD 2.5 billion, this project involved the construction of a dry dock measuring 240 m long, 40 m wide, and 8.10 m deep, capable of accommodating ships measuring 220 m long and 32 m wide; the installation of a 150 m x 28 m lifting platform with a capacity of 9,700 tons; and a 60 m long, 13 m wide, and 8.7 m deep dock equipped with a 450-ton strap lift.

This project, which also involved the development of 21 hectares of embankments and 660 m of quays, falls fully in line with the enlightened vision of His Majesty King Mohammed VI, in favor of developing a national naval industry.
The Sovereign then inaugurated the new cruise terminal at the port of Casablanca (MAD 720 million), an infrastructure that meets international standards and aims to enhance the attractiveness of the metropolis and support the development of the tourism sector, particularly cruise tourism.

With an annual capacity of 450,000 cruise passengers, this project, designed to accommodate ships up to 350 m long and 45 m wide, with a depth of 9 m, included the construction of a ferry terminal, the construction of a landing stage with a total length of approximately 650 m, the installation of three gangways (one fixed and two mobile), and the construction of a parking area holding a capacity of 44 coaches.

As for the new administrative complex (MAD 500 million), which brings together all the stakeholders in the port of Casablanca, it aims to optimize port space by bringing together services that were previously scattered across the port (port authority, customs, district, operators, consignees, handlers, etc.), improving the quality of service for port users, and ensuring better integration of the port into its urban environment.

These large-scale projects, which contribute to the extensive modernization of the Casablanca port complex while diversifying its activities, reinforce the Kingdom’s momentum, under the leadership of His Majesty King Mohammed VI and which has made it possible to reshape the national port landscape, thanks in particular to the large container port of Tanger-Med and the future ports of Nador West-Med and Dakhla Atlantique.

They aim to hoist the Kingdom’s metropolis to the ranks of a tourist destination of choice, strengthen its assets in terms of business tourism and cruises, and harmoniously support the economic, urban, and demographic growth of the entire region.

Casablanca, 18/09/2025 (MAP)

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Mining Industry: Strategic Anchor For Industrialised Ghana https://businessweekghana.com/mining-industry-strategic-anchor-for-industrialised-ghana/ Thu, 31 Jul 2025 14:34:56 +0000 https://businessweekghana.com/?p=65780 Over the past decades, Ghana has witnessed impressive strides in the development of its mining industry, solidifying the sector’s role as a critical pillar of the country’s economy. Once a small-scale activity, mining has become a national economic “saviour”, driving not only economic recovery programmes and growth but also facilitating broader development in areas such as infrastructure, manufacturing, agriculture, and foreign exchange. As Ghana continues to harness the potential of its mineral resources, the mining value chain, comprising extraction, processing, logistics, and support services, has become increasingly important in promoting industrialization, regional development, and social advancement.

Economic Impact of the Mining Sector

In the last 10 years (2014 to 2023) total mineral revenue was over USD40.15 billion and out of this over USD29 billion was returned into the country through the bank of Ghana and the commercial banks. In 2024, Ghana saw a significant 19.3% rise in gold production, reaching a record 4.8 million ounces, up from 4.0 million ounces in 2023. This growth was largely driven by a 70.1% surge in output from small-scale miners, increasing their contribution from 1.1 to 1.9 million ounces. Meanwhile, large-scale production remained steady at 2.9 million ounces. As a result, the small-scale sector’s share of total output rose from 27.7% to 39.4%, while the large-scale sector’s share fell from 72.3% to 60.6%.

In 2024, producing members of the Ghana Chamber of Mines contributed 59.4% of the country’s gold output, with mineral revenue increasing by 19.8% to US$7.1 billion. Their gold output saw only a slight year-on-year rise of 0.02%, due to production halts at Future Global Resources’ Bogoso Mine caused by liquidity issues leading to a licence revocation and broader declines across other producers facing operational and end-of-mine challenges. These losses were partly offset by increased output from Newmont’s Ahafo South and Golden Star’s Wassa mines. In contrast, non-member large-scale mines saw an 8.3% drop in output.

In 2024, Ghana’s mining sector contributed GH₵17.7 billion in fiscal payments to the government, a 51.2% increase from GH₵11.7 billion in 2023. Dividends paid to the state rose sharply by over 600% to GH₵1.03 billion. The sector’s share of direct domestic taxes grew from 22.7% to 24.3%, its share of domestic revenue increased from 8.8% to 9.6%, and its contribution to total government revenue rose from 8.6% to 9.5%. Mineral royalties also increased significantly, up 76.7% from GH₵2.8 billion to GH₵4.9 billion, raising their share of total fiscal contributions from 23.7% to 27.7%.

The Mining Value Chain

While mineral extraction forms the backbone of Ghana’s mining industry, the value chain associated with the sector extends far beyond the mines themselves, creating a ripple effect across various industries. The mining value chain, comprising exploration, extraction, transportation, processing, manufacturing, and trade, has far-reaching implications for the country’s broader economic development.

Manufacturing and Value Addition

Ghana has long been an exporter of raw minerals, primarily gold, but there is increasing momentum toward adding value to these resources domestically. The establishment of mineral processing plants, smelters, and refineries has begun to shift the country away from simply exporting raw materials to producing finished and semi-finished goods.

For example, Ghana is focusing on processing its bauxite resources to produce alumina, a key input for aluminum production. This development has the potential to create a downstream aluminum industry, which could significantly enhance the country’s industrial base. The government’s push to develop a robust value-added mineral processing industry not only promises to increase the country’s export earnings but also creates a multiplier effect by stimulating the growth of other sectors, including construction, machinery, and chemical production.

By diversifying the value chain, Ghana can also attract foreign investment into manufacturing, technology, and innovation, transforming the country into a regional hub for resource-based industrialization.

Mining and Agriculture

The mining industry is often perceived as disconnected from agriculture, but the two sectors are intrinsically linked, particularly in rural areas. Mining operations typically employ hundreds or even thousands of workers, many of whom live in mining camps or stay near the mining site. These workers need regular meals, and the companies usually operate or contract catering services to provide food throughout the day. As a result, there is a high and consistent demand for various farm produce, including chicken and other meat products, rice, vegetables and fruits.

Additionally, mining companies often host guests, investors, or government officials, and need to provide food for meetings, events, or tours. This steady demand creates a strong market for local farmers and agribusinesses, linking the mining and agricultural sectors. It also means that the growth of mining can positively impact rural economies by increasing demand for agricultural products. District assemblies in mining areas could develop their agriculture base to feed into the mining operations to create sustainable jobs for the youth. Additionally, reclaimed mined lands have been used for various farming purpose and the produce is used to serve workers and visitors.

Foreign Exchange Earnings and Trade

The mining sector has played a pivotal role in boosting Ghana’s foreign exchange reserves, particularly through the export of gold, which has been the country’s largest foreign exchange earner for the past decade. In 2024, Ghana’s mineral export earnings surged by 52.7% to US$11.9 billion, accounting for 58.4% of total merchandise exports, with gold alone generating US$11.6 billion. This strong performance bolstered the balance of payments, supported 2.9 months of import cover, and stabilized the exchange rate. The mineral sector’s share of export earnings rose from 47.0% in 2023 to 58.4% in 2024, reaffirming its role as the leading foreign exchange earner. In comparison, crude oil exports rose slightly to US$3.9 billion, while cocoa export revenue fell by 9.9% to US$1.9 billion.

Mining and Manufacturing

Mining companies rely heavily on a wide range of mine inputs, chemicals, and equipment essential for daily operations. Some of these include activated charcoal, used in gold processing to absorb and extract gold from solutions; grinding media, steel balls or rods used to crush and grind ore into fine particles for mineral extraction and explosives, required for blasting rock to access mineral deposits. Others are cement, used for construction of mine infrastructure such as tunnels, shafts, and buildings; electrical cables, vital for powering machinery, lighting, and communication systems across mining sites and caustic soda, a chemical used in mineral processing, particularly in gold refining. These inputs are critical to the functioning and productivity of mining operations, yet many are imported due to limited local manufacturing capacity.

Linking to the Need for a Strong Manufacturing Sector

Mining
Albert Amekudzi, the author

To reduce reliance on imports and improve operational efficiency, it is essential to develop a robust domestic manufacturing sector that can produce these mining inputs locally. This will help reduce cost because locally made inputs can be more affordable due to lower transport and import costs, have a strong supply chain and reduce the risk of supply disruptions caused by global market shocks or shipping delays, create jobs for both the skilled and semi-skilled to stimulate broader economic development. Additional benefits are foreign exchange savings: value addition and stronger industrial linkages. A well-developed manufacturing base can provide inputs not only to mining but also to construction, energy, and other sectors.

Mining’s heavy demand for industrial supplies presents a strategic opportunity to strengthen Ghana’s manufacturing sector. By localizing production of key inputs, the country can build a more integrated, resilient, and inclusive economy.

Sustainability and Challenges Ahead

While the mining industry has undeniably been a crucial driver of economic growth, its long-term success hinges on sustainable practices and overcoming key challenges. These include addressing environmental concerns such as land degradation, deforestation, and water pollution, as well as ensuring that mining benefits are equitably distributed to local communities. Moreover, there is a need for greater investment in geological survey, refining and processing technologies to ensure that Ghana maximizes the value it derives from its mineral resources.

There is also the pressing issue of formalizing and regulating small-scale and artisanal mining, which, despite its economic importance, has often been associated with environmental and social challenges. By fostering responsible mining practices and ensuring that small-scale miners are integrated into the broader value chain, Ghana can create a more inclusive and sustainable mining industry.

Conclusion

Over the last decade, Ghana’s mining sector has become a cornerstone of the nation’s economy, contributing to GDP growth, export earnings, employment, and infrastructure development. Beyond the extraction of raw minerals, the mining value chain is a key driver of broader economic activities in manufacturing, agriculture, foreign exchange, and regional development. With its vast resource wealth, Ghana has the opportunity to further enhance its mining industry’s impact by diversifying into value-added processing, strengthening local linkages, and prioritizing sustainable practices.

In this way, mining will continue to serve as a national strategic anchor industry, fostering long-term growth and prosperity for Ghana while contributing to its vision of becoming an industrialized and diversified economy.

Source: Albert Amekudzi

The writer is an integrated marketing communication professional with experience in sustainability, external relations and events management.

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QNET Reinforces Commitment to Ghana’s Development and Entrepreneurship Through CSR and Unique Product Offerings https://businessweekghana.com/qnet-reinforces-commitment-to-ghanas-development-and-entrepreneurship-through-csr-and-unique-product-offerings/ Mon, 14 Aug 2023 17:43:45 +0000 https://businessweekghana.com/?p=18130 QNET, a leading global lifestyle and wellness-focused direct selling company, reaffirmed its dedication to expanding its impactful social responsibility initiatives in Central and Western Regions of Ghana during a media engagement in Accra.

The company also emphasised its mission to provide distinctive life-enhancing products to the people of Ghana while facilitating the entry of micro-entrepreneurs into their business ecosystem through a commission-based model. This was made known by Ramya Chandrasekaran, Chief Communications Officer of the QI Group, the parent company of QNET, in a highly interactive media session in Accra.

QNET, through its Corporate Social Responsibility (CSR) arm, RYTHM (Raise Yourself to Help Mankind) Foundation, has had a successful partnership with Ghanaian NGO ANOPA Project in Cape Coast and its environs for three years which has benefited around 1200 people. Of these, around 450 are hearing and visually impaired children who have been equipped with valuable life skills through inclusive, accessible, and high quality sports-based interventions. The Foundation is in the process of expanding this programme to several other organisations in Ghana that work with children with disabilities and special needs.

Ms. Chandrasekaran explained to journalists: “We are very proud of the impact of our programme in Cape Coast. Fourteen (14) kids from the programme have qualified for the World Deaf Swimming Championships this year and will be going to Argentina in the last week of August! This year, as we celebrate our 25th anniversary, we remain focused on building on the positive social impact we have made in communities around the world through our products, business, and development projects.”

Ms. Chandrasekaran emphasized the company’s focus on offering distinctive, life-enhancing products to the people of Ghana. “Our aim is to help people live better lives and take charge of their health and their livelihood through our offerings. We have a wide selection of products and services that help customers improve their well-being, enhance their lifestyle, and enrich their minds. Our latest is a powerful immunity boosting beverage called Edge Plus which has become very popular with our customers considering the post-pandemic health concerns”, she explained.

She explained how QNET enables aspiring micro-entrepreneurs to build their own business using the company’s products, enhancing their livelihoods, and contributing to Ghana’s economic growth.

“The best part is that anyone can start their independent sales business of promoting these products by registering as an independent representative with QNET and earning commissions on product sales. We are democratizing entrepreneurship by helping anyone become a micro-entrepreneur using QNET’s direct sales business model.”

Acknowledging misinformation surrounding QNET, Ms. Chandrasekaran reaffirmed the company’s commitment to clarifying misconceptions and dispelling myths. “We are on a mission to change the narrative about QNET which has been tarnished by a small group of individuals who have misused our name for their unethical activities. That’s why my colleagues and I regularly visit Ghana to meet with various stakeholders in the media and law enforcement to address concerns and collaborate on public education initiatives to ensure the public is not misled by these scamsters.”

She concluded: “As QNET celebrates its 25th anniversary, the company remains dedicated to its core principles: fostering positive social impact, offering valuable products, empowering entrepreneurs, and upholding transparency in its operations.”

About QNET

QNET is one of Asia leading direct-selling companies offering a wide range of health, wellness and lifestyle products that enable people to live better lives. QNET’s grass-roots business model, fuelled by e-commerce, has helped empower millions of entrepreneurs in more than 100 countries worldwide.

Since its inception 25 years ago, the company has operated a unique business model that allows individuals, including women, to start their businesses and earn an income by selling the company’s products.

QNET is headquartered in Hong Kong and has a presence in more than 25 countries worldwide through subsidiaries, branch offices, agency partnerships, and franchisees. QNET is a member of the Direct Selling Association in several countries, the Hong Kong Health Food Association and the Health Supplements Industry Association of Singapore, among others.

QNET is also active in sports sponsorships around the world. Some more prominent partnerships include being the Direct Selling Partner of Manchester City Football Club and the African Club League Championships of CAF.

For more information, please visit QNET at: https://www.qnet.net/

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JICA Commits to Improving the Teaching and Learning of Mathematics in Basic Schools in Ghana https://businessweekghana.com/jica-commits-to-improving-the-teaching-and-learning-of-mathematics-in-basic-schools-in-ghana/ Wed, 03 May 2023 21:45:03 +0000 https://businessweekghana.com/?p=16921 The Japan International Cooperation Agency, JICA, has reiterated its commitment to helping Ghana overcome some of its educational challenges by initiating a new project that will focus on the improvement of teaching and learning Mathematics in Ghanaian schools. The project: “Project to support the Teaching of Mathematics in Basic Schools”, a technical cooperation program from JICA, will help improve the learning of Mathematics among young students across the country.

Key learning gaps have been identified in both national and international assessments of the teaching and learning of Mathematics in primary schools in Ghana. These challenges are evident in Ghana’s low scores in Trends in International Mathematics and Science Study (TIMSS). The National Education Achievement (NEA) survey corroborated the observation and itemized some underlying challenges.

The “Project to support the Teaching of Mathematics in Basic Schools” started in November, 2022 and is supporting the development of students’ learning materials, teachers’ teaching guides, the design of teacher training packages and the utilization of teaching materials in primary mathematics education.

Through the support of an advisor, JICA is working with the Ghana Education Service and the STEM Resource Centre to implement a series of initiatives that would impact the teaching and learning of mathematics in basic Schools.

The 3-year project seeks to achieve the following: develop a situational analysis document on the challenges in primary mathematics education and develop students’ learning materials and teachers’ guide in primary mathematics, based on the Ghana Education Service’s new national curriculum. The project, in addition, will ensure there is a training design aimed at utilizing the developed students’ learning materials and teachers’ guideline in primary mathematics through the Nationwide In-Service Training, INSET.

Since 1977, JICA has been supporting the Government of Ghana to achieve its developmental agenda and programmes in areas including education, health, private sector development, infrastructure, agriculture and others.

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AfCFTA: The key success factor in Africa’s long-awaited development https://businessweekghana.com/afcfta-the-key-success-factor-in-africas-long-awaited-development/ Thu, 10 Feb 2022 15:40:27 +0000 https://businessweekghana.com/?p=10593 For decades, the African continent had been characterized by fragmented markets that inhibit the economic growth of individual countries. Prior to introducing the African Continental Free Trade Area (AfCFTA) in 2018 and its official commencement in January 2021, international trade statistics showed that 85 percent of Africa’s trade was with the rest of the world and only 15 percent within its borders. AfCFTA, therefore, is an intervention that aims to defragment the continent and boost productivity of the economies of member states.

The defining change that AfCFTA brings is anchored on three main pillars – size, free movement, and trade. The sheer size of the continent makes AfCFTA an exciting prospect. The collective GDP of African countries amounts to some USD2.5 trillion, making it the 8th largest economy, globally. Africa is also known to have one of the highest population growth rates globally, with 1.2 billion people living on the continent.  This means at the get go, AfCFTA will provide 1.2 billion potential customers across 54 countries.

Beyond its groundbreaking size, AfCFTA promises to be a paradigm shift and a more profound commitment to integrating the continent by negotiating goods and services simultaneously. The agreement is a potential economic game-changer for Africa’s development because of its potential to enhance intra-African trade and provide an opportunity for countries in the region to competitively integrate into the global economy, reduce poverty and promote inclusion.

Intra-Africa trade, which currently stands at 15 percent is projected to increase to 50 percent in 2028 as a result of the opportunities created by AfCFTA. The agreement is also promising to remove trade taxes on at least 90 percent of all trade between African countries. By boosting intra-African trade and fostering regional value chains and production networks, AfCFTA is expected to drive Africa’s structural transformation.

Analysts believe that increasing trade through AfCFTA will provide the incentive for reforms to activate productivity and job creation, thereby decreasing the incidence of poverty on the continent. Indeed, the World Bank suggests that when the agreement is implemented, it could help lift an additional 30 million people from extreme poverty and 68 million people from moderate poverty by 2035.

Read also: AfCFTA boss urges stakeholders to eliminate barriers likely to impede success

The third pillar involves the free movement of goods and people across the continent. Under the current dispensation, visa barriers, border control, and expensive air tickets, travel between African countries is quite challenging. Under AfCFTA, Africa’s entrepreneurs, professionals, workers and consumers, will be able to move across the continent, allowing them and the businesses they represent to take advantage of opportunities to trade in goods and services. What remains critical is the agility of entrepreneurs and business people to recognize these vast opportunities and make the jump to take advantage of the situation.

Businesspeople and entrepreneurs have to position themselves strategically to leverage the opportunities provided by the agreement. As a starting point, entrepreneurs must arm themselves with as much information as possible about any deals that are on the table to help navigate through the nuances of the agreement.

Beyond learning about the agreement, value addition must be a preoccupation of businesses if AfCFTA is to benefit them. Value addition comes with the capacity building that enables African companies to progress from local players to regional players. The business community must adopt modern operations, strategies and systems to ensure competitiveness.

In Ghana, there are a number of initiatives that are critical in ramping up local businesses to take advantage of the AfCFTA. This includes the National Export Development Strategy (NEDS). The NEDS seeks to build synergies with government’s flagship programmes, such as 1 District 1 Factory, Planting for Food and Jobs, Planting for Export and Rural Development, District Industrialization for Jobs and Wealth Creationto ensure that products emanating from companies operating under these programmes are competitive and marketable in the local and foreign markets.

Equally critical is the need for Ghanaian businesses to position themselves strategically to take advantage of this great opportunity. Retooling and upskilling for businesses become an urgent imperative if the benefits of the AfCFTA are to be realized. It is worth noting that there are institutions with the requisite knowledge at the continental level to help local businesses.

The agreement has received considerable political attention across the continent and looks promising from all indications. But if the continent is to realize the full benefits of AfCFTA, local businesses must develop and position themselves to be competitive and attractive on the regional market.

Source: Dinah Kaleo-Bioh, Head, Client Coverage, Stanbic Bank
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Continuous staff development relevant for insurance industry – former NIC boss https://businessweekghana.com/continuous-staff-development-relevant-for-insurance-industry-former-nic-boss/ Mon, 31 May 2021 11:16:16 +0000 https://businessweekghana.com/?p=6465 The former Commissioner of the National Insurance Commission (NIC), Ms. Lydia Lariba Bawa, has reiterated the importance of periodic training and refresher courses for staff of insurance companies to enable them to better serve the needs of the industry.

She stressed the need for continuous practical and hands-on training for staff development to engender value addition to the services provided by insurance companies to their clients.

She made the call after a three-day capacity building workshop organized by Imperial General Assurance for some of its technical staff  from 24th – 26th May, 2021 in Accra.

Ms. Bawa and Mr. Alfred Yaw Ofori-Kuragu, both Managing Consultants at AP & L Consult, a leading insurance broking firm,  served as resource persons  for the workshop.

The training covered various topics on motor insurance, engineering insurance, bond insurance, underwriting requirements, claim processes, policy conditions, among others.

Continuous staff development relevant for insurance industry - former NIC boss

The beneficiary staff were selected from the company’s underwriting, claims, retail and agency departments from its branches across the country.

The Managing Director of Imperial General Assurance, Mr. Robert Wugah, said his company remains committed to its vision of being noted for the provision of excellent insurance services in Ghana.

He said the training has offered the staff of the company the opportunity to improve on their knowledge, skills and experiences on the job.

“They (staff) are better equipped to continue to deliver excellent services to our stakeholders, particularly to our customers. At Imperial, we reduce the anxiety of our customers while exceeding their expectations by giving them solid protection for their insurance policies.

Imperial General Assurance is a wholly-owned Ghanaian insurance company which provides non-life insurance solutions in Ghana.

 

 

 

 

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