President cuts sod for the construction of Axim landing site
he President, Nana Addo Dankwa Akufo-Addo, has cut the sod for the construction of the Axim landing site to improve a lot of the fisher folks within the district.
The President said “I have engaged with the chief over the period, I know of the sea defence and fishing harbour,...I want the chief to know that I did not come here just to brag during the campaign period...what we are seeing today is indeed a fulfilment of such promise...I deliver on my promises."
The President said the Axim sod cutting was a symbolic one for all regions with coastal facilities and prayed that the contractors would work within timelines for the people to use the facility on time.
"I should have gone to Dixcove for a similar programme but for the brutality on the Chief...I have asked that the perpetrators are brought to book".
Mrs. Elizabeth Afoley Quaye, the Minister of Fisheries said the Ministry identified three priority areas aquaculture, fishing and infrastructure to transform the sector to fit in the overall national agenda.
She said the Ministry was working hard to improve the sector to avoid high post-harvest losses and meet export standards, as well as raise the standard of living of the people in the area.
The Axim landing site project, which begins in 2007, was yet to see full completion.
The completion of the site would help improve fishing activities, ensure hygienic fish handling and provide adequate storage facilities as well as enhance values.
It would also provide exchange point for participatory value chain activities and decision making.
Mrs Afoley Quaye said the incentives would stimulate private sector involvement in aquaculture with lots of extension services provided for the people, "It is envisioned that such incentives would improve aquaculture and halt bad fishing practices".
According to her, the Ministry and the Fisheries Commission would continue to rely on the Fisherfolks to enforce the close season, saying, "we are protecting the marine resources".
Mr Kweku Ofori Asiamah, Transport Minister lauded the commitment of government towards the project and said government was delivering a promise of building mini ports for the conducive conduct of fishing activities.
Mr Asiamah said the coming on stream of the Axim landing site, the 11th landing site along the coast, would help the over ten per cent of the population engaged in the sector, adding that, the potential of the industry demanded that much attention was paid to it.
"This mini harbour will have a crèche, cold store and a market among others".
He, therefore, urged the community to take responsibility for the project as stakeholders and keep an eye on the specification for successful delivery.
Meet the Top 20 Ghanaian Media Business persons
Known as the 4th estate of government, the Ghanaian media landscape has over the past two decades evolved not only as an avenue for engaging citizens but a lucrative business sector that has produced some successful entrepreneurs and business leaders in Ghana.
Even though we cannot evaluate the financial value of the industry in Ghana, Price Water-Coopers in 2017 valued the global entertainment and media market at $2trillion which tells us the potential this industry described as one of the fastest growing industries has to make one a successful entrepreneur.
Even with tight regulations being witnessed currently in the media landscape, multiples of media ventures would continue to be established and for the records for entrepreneurs who wish to venture into the media business, I decided to research and name some of the most successful Ghanaian media entrepreneurs and leaders.
With the emergence of new media (blogging & vlogging), I can boldly predict that the narrative would not be the same in a few years from now as similar publications would feature individuals currently taking advantage of creating content and using the online space to spearhead their works.
The list below throws the spotlight on both leaders and entrepreneurs in the media space in Ghana who feature as the founders or managers of the biggest media establishments in Ghana who are rivalling thriving African media companies.
1. Dr Kwabena Duffuor & Nathan Kwabena Anokye Adisi (Bola Ray) – EIB Network
In 2014, former minister and entrepreneur, Dr Kwabena Duffuor partnered with media personality and entrepreneur to launch the Excellence in Broadcasting Network (EIB Network). EIB Network currently operates as a big media group with operations online, radio and television. The group owns and run Starr FM, Live FM, Kasapa FM, Ultimate Radio, Agoo FM, Abusua FM, Empire FM, GhOne TV and several news websites.
As one of the successful collaborations in the media landscape, both Dr Duffuor & Bola Ray have led the EIB Network to lead the industry.
2. Dr Kwaku Oteng – Angel Broadcasting Network
Dr Kwaku Oteng, a serial media entrepreneur is credited to have the largest conglomerate of radio stations in Ghana. Through his Angel Broadcasting Network, he owns Angel FM & Cheers FM radio franchise, Angel TV, Pure FM and several other media outlets.
He also owns a chain of businesses in Ghana’s herbal medicines, broadcasting, beverages and transport industries and a well-known philanthropist.
3. Edith Dankwa – Business & Financial Times Limited
Edith Dankwa is notably the most audacious woman in the media space having survived several decades of running the foremost business newspaper in Ghana. Under her leadership, her company organises the Ghana Economic Forum and hosts other business events across the country. Established in 1989 as a weekly publication the Business & Financial Times (B&FT) has grown to be a leader in the newspaper industry reporting on various issues of business and the economy.
Her outfit also manages the Business Times Africa Magazine (BT), Energy Today Magazine (ET) and the Business & Financial Times (B&FT) newspaper under her company umbrella, the Business and Financial Times Limited
4. George Kwasi Twum – Multimedia Group
Multimedia Group Limited (MGL) was founded in 1995 by Kwasi Twum with one radio station - Joy 99.7Fm as the first private radio station licensed in Ghana. Over the years group has expanded into more radio & TV Channels, News Websites and a satellite network.
Notable media companies under the brand are, Adom FM, Asempa FM, Hitz FM, Luv FM, Adom TV, Joy News & myjoyonline.com.
Mr Kwasi Twum is a Fellow of the Africa Leadership Initiative, an Aspen Institute Henry Crown Fellowship Initiative and holds a Bachelor of Arts Degree in Economics from the University of Ghana, Legon and is an alumnus of Harvard Business School.
5. Nik Amarteifio & Samuel Attah Mensah – Omni Media Ltd
With Nik Amarteifio as the owner and Samuel Attah Mensah as the manager, Omni Media has evolved quickly to carve an excellent niche itself in the industry. With an exemplary leadership, their organisation operate Citi FM, Citi TV, Citi Newsroom and other news websites.
Mr Amarteifio is also the Chairman and majority shareholder of Dannex Limited, Starwin and Ayrton as Samuel Attah-Mensah ‘Sammens’ serves as the Managing Director of Omni Media.
6. Osei Kwame & Ernest Ofori Sarpong – Despite Media & U2
Osei Kwame is one of the successful media entrepreneurs who is credited to have revived the Ghanaian media landscape with the launch of Peace FM in 1999. Osei Kwame could quickly expand his media network to Okay FM, Neat FM, Hello FM and Peace FM Online and grouped them under the umbrella of Despite Group of Companies.
Through a partnership with Ernest Ofori Sarpong another successful entrepreneur in 2015, they co-founded United Television (UTV) which is the most watched free to air local channel in Ghana. They both own shares in Best Point Savings & Loans Limited in Ghana.
7. Hon Kennedy Agyapong – Net2 Broadcasting
As one of the famous politicians in Ghana, Hon Kennedy Agyapong is also a revered entrepreneur whose investment in the media cannot be overlooked. His channels Oman FM, Net2 Television, Ash FM and Spice FM have played major roles in the political space in the country.
8. Hon Frederick Blay & Kwame Blay – Weston Publications Limited (Daily Guide & DGN)
Freddy Blay is currently the chairperson of the ruling NPP government in Ghana, but during his political exploits, he founded the Daily Guide newspaper which is officially the mouthpiece of his party. His son Kwame Blay is currently the managing director as both parents are engaged in serving the current government in various positions. As the youngest person on this list, he has successfully added a television network to the newspaper and their popular news website www.dailyguidenetwork.com.
Frederick Blay is also the Senior Partner at Blay and Associates and the board chairman and majority shareholder of Western Publications Limited, publishers of the Daily Guide newspaper, the flagship of the Group, Business Guide, News-One, Young Blazers and DGN.
9. Rev Anthony Cudjoe & Beatrice Agyemang Abbey – Media General
According to ghana.mom-rsf.org, Media General, one of the largest media conglomerates in Ghana is owned by The Cudjoes with renowned ICGC pastor Rev. Anthony Cudjoe as the executive director.
Media General’s rich and diversified portfolio of businesses includes TV3 Network Ltd, MG Radio (3FM, Onua FM, Connect FM), MG Digital (3news.com) and Adesa Productions Ltd.
Beatrice Agyemang Abbey serves as the Group CEO after previous roles in the company as a General Manager, a Managing News Editor, an anchor, a reporter and Senior Producer.
10. Dr Kwame Kyei - Vision 1 & Light TV
Apart from being the chairman of the Asante Kotoko football club, Dr Kwame Kyei is notably known for his investments in the media. In 2006, he kick-started his media adventure with the launch of Light FM in Kumasi and has over the years added more channels such as Light Television, Vision 1 FM and Wisdom FM to the media scene.
Dr Kwame Kyei is an accomplished entrepreneur and corporate executive with over 25 years of experience in the Petroleum downstream sector. Dr Kyei is currently the Chief Executive Officer and Chairman of the Board of the Unity Group of Companies with its latest addition being Unity Air. The group has a workforce of about 4,000.
11. Dr Samuel Amo Tobbin - Atinka Media Village
As a newbie in the media industry, Dr Samuel Amo Tobbin took one of the boldest decisions to venture into the industry and has so far made a remarkable imprint for himself. Through his TV channel, Atinka TV, the group launched a dancing reality show, which is regarded as one of the most watched reality TV shows in the country. His other media channels include Atinka FM, Agyenkwa FM, Ahotor FM and Atinkaonline.
Dr Tobbin is the Executive Chairman of The Tobinco Group with over Twenty Five (25) years’ experience in managing businesses.
12. H.E. Edward Boateng - Global Media Alliance
With current accomplishments as an ambassador to China, H.E. Edward Boateng is the Founder and Chairman of media conglomerate Global media Alliance which owns and run the brands: YFM, Happy FM & ETV Ghana.
In 1998, Edward Boateng incorporated Global Media Alliance (GMA) in Johannesburg, South Africa, with a view to offering services like corporate communications, television production and media relations and event management. Currently, GMA is headquartered in Accra, Ghana with an office in Kenya and partners in Nigeria, UK, South Africa and Malaysia.
13. Kwasi Sainti Baffoe-Bonnie – Network Broadcasting Company
Mr Kwasi Sainti Baffoe-Bonnie’s venture in the media is notably one of the greatest contributions to political discourse in Ghana. With the affiliation to the current opposition NDC, his channels Radio Gold & Montie FM have contributed to the immensely the development of our media landscape.
Even though his company is currently facing multiple challenges of closure, his role as the founder of Network Broadcasting Company Limited is worth noting.
14. Stephen Boateng - Kessben FM Limited
Mr Stephen Boateng popularly known as Kwabena Kesse, is a successful entrepreneur and the sole shareholder of Kessben FM Limited, the company which runs Kessben TV, Aseda TV and Kessben FM.
He is also the Chief Executive Officer or Director of the Kessben Group of Companies and the Chancellor of the Kessben University College.
15. Hon Wilson Arthur – Skyy Media Group
For the past 20 years, Wilson Arthur has led the Skyy Media Group to evolve as a local FM station based in Takoradi to national pride after venturing into the media industry with the passion to impact people’s lives.
Spotting an opportunity in 2006 when Ghana signed the international agreement to switch from analogue to digital television by 2015, the group applied for a license to operate a digital television infrastructure which was launched in February 2009.
As a politician, Hon Wilson is currently serving as the District Chief Executive for Wassa East in the Western Region.
IFS warns real budget deficit may exceed 5% by end of 2019
The Institute for Fiscal Studies (IFS) is warning that government may record a real budget deficit of more than 5 percent of GDP if government does not reduce its appetite for borrowing.
According to the IFS, even though government has outlined measures not to overspend, the trend rather shows that government is borrowing outside its plans in what it describes as extra budgetary borrowings.
Speaking at a press conference ahead of the Mid-Year Budget Review, a Research Fellow with the IFS, Leslie Mensah explained that there are other institutions borrowing from the same market that government is also borrowing from, putting pressure on interest rates.
“Examples are the bonds that were issued to bail out the financial sector and extra budgetary borrowing through the Ghana Education Trust Fund (GETFund),” he said.
Providing some details on the budget deficit in recent times, Mr. Mensah argued that the budget deficit— which is the gap between how much the governments spends and how much it collects in revenue fell to 12.2 billion or 4.8 percent of GDP in 2017 from 13.9 billion or 6.5 percent of GDP in 2016.
He observed that even though the budget deficit contracted to 11.7 billion cedis or 3.9 percent of GDP in 2018, the figure, did not show the true situation on the ground.
“These figures do not reflect the true state of the public finances, due to the incurrence of expenditure and liabilities by the government that are outside the framework of the budget approved by parliament,” he stressed.
Mr. Mensah therefore called for circumspection in increasing the public debt adding that the debt levels are alarming.
Bawumia convinces Canadian investors
The Vice President of Ghana, Mahamudu Bawumia, has told a group of Canadian investors that Ghana is the best investment destination in Africa, owing to its outstanding features of political stability and security among other attributes.
He was speaking in Vancouver during his visit to the North American country as leader of a trade delegation to the Canada-Ghana Economic Summit organized by the Canada-Africa Strategic Investment Inc in Vancouver.
He dangled what he described as Ghana’s benign legal and regulatory environment, a large domestic market and macroeconomic stability which according to him, sets the country apart from others on the continent.
The recent economic developments in Ghana, he said, present huge opportunities for diverse investment types and present sound reasons why Canadian investors should consider pitching camp in the country.
Regarding the legal regulatory environment in Ghana, he said, “ranked 48th (out of 126 countries) on the World Justice Project’s 2019 Rule of Law Index, Ghana provides a safe haven under which investments are protected under a fair and ‘commercially-aware’ judicial system.”
Continuing, he said Ghana has been ranked ahead of countries like South Africa in the 2019 A.T Kearney Global Services Location Index (GSLI), a measure of the attractiveness of a location for offshore services.
He went on to say that the country has also maintained a consistent position as the 2nd highest ranked country (out of 20) in the Absa/Barclays Africa Group Financial Markets Index for two years running. He added that Ghana is also being ranked as the 4th highest (out of 25) African Country in Ernst & Young Africa’s Attractiveness Survey (2017), ahead of Cote d’Ivoire, Mauritius, Rwanda and Nigeria.
Vice President Bawumia further noted that “successfully implemented AfCTFA will have a combined consumer and business spending of $6.7 trillion in 2030, boost manufacturing and industrial development in Africa and raise intra-African trade by 15 to 25 percent, or $50 billion to $70 billion, by 2040, compared to an Africa without the AfCFTA, all of which will be coordinated and directed from institutions, personnel, and resources based out of Ghana.”
Other speakers at the summit were Dr. Edward Akuffo, Chief Executive Officer of Canada-Africa Strategic Investment Group Inc., Councillor Sara Kirby-Yung, Acting Mayor – City of Vancouver, and the Ghana High Commissioner to Ghana, Ayikoi Otoo.
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At the Simon Fraser University, his alma mater, he shared thoughts on how the President and his government are leveraging technology to deliver services to the Ghanaian people.
If developing economies are to remain competitive and be counted in this Fourth Industrial Revolution, then they must embrace the digital revolution, he said.
While presenting the inroads government has made so far in this direction, he announced that Ghana will, this year, join the likes of Singapore and China to roll out a Universal QR Code system for payment that will enable even small and petty traders to have easy means of getting paid. ‘With the QR Code system in Cheques, points of sale devices will ultimately be phased out with time’ he added.
Akufo-Addo commissions GhanaGas operational Office Complex
President Nana Addo Dankwa Akufo-Addo, on Tuesday, commissioned the Operational Office Complex of Ghana National Gas Company.
The office complex is expected to deliver first-class gas operations and support services for the country’s gas sector, whilst, at the same time, accommodating staff of the company who work to ensure reliable and sustainable gas supply for power generation.
Whilst commending the Board and Management of Ghana Gas for overseeing the project, President Akufo-Addo also applauded the company for the numerous developmental projects it is undertaking in the Western Region, including the 10.5km asphalt road from Alla-Bokazo to Anokyi.
With major reconstruction activities being undertaken on the Nkroful road, the President noted that similar road projects have either been completed or at various stages of completion in Axim, Half Assini and Kikam.
Again, having registered some 1,350 indigenes living in Atuabo and Aboadze under the National Health Insurance Scheme; constructed an 8-Seater Water Closet Toilet facility, and a Mechanized Borehole in Allabokazo; constructed a 4-unit Teachers’ Quarters in Anokyi, a 4-unit Teachers Quarters in Asemnda Suazo, and an Ultra-Modern Nursery facility in the same area, President Akufo-Addo urged the company to continue in this vein, and support the communities within which they are operating.
He assured that the Ministry of Agriculture, in collaboration with Ghana National Gas Company, is currently working towards the establishment of a fertilizer plant in Jomoro. The Plant will use natural gas as feedstock to produce high quality ammonia, urea and fertilizer for both local and regional markets.
Akufo-Addo cuts sod for phase 2 expansion of Twyford Ceramics Factory
Earlier in the day, President Akufo-Addo cut the sod for the second phase of expansion works of the Twyford-Keda Ghana Ceramics Company Limited, a company operating under Government’s “One District, One Factory” initiative.
Addressing the gathering, he noted that, after commissioning the factory in January 2018, the promoters of the factory have invested some $77 million in the processing plant, which has resulted in an annual production capacity of 14.4 million square meters of tiles, and created more than 800 jobs in the Shama area.
“The operations of the company have also seen a significant reduction in the import of tiles by as much as 14%. The contribution that this company is making in the industrialization agenda of the country and the transformation of our economy is significant,” President Akufo-Addo added.
Particularly happy about the decision of the company to source their raw materials locally, the President noted that “many of those things we can do here in Ghana, we intend to begin the process of doing them here in Ghana. That is the way we can develop our economy and begin to address the living standards of our people.”
With Ghana hosting the Secretariat of the African Continental Free Trade Area, President Akufo-Addo explained that {the opportunity is going to be created for companies like this not only to be able to access the ECOWAS region, but the larger African continent with a market of 1.2 billion people.”
He continued, “We are not quite there with China, but Ambassador, we are on our way so that companies like this ceramics company will have the opportunity of targeting this larger market community when the Free Trade Area comes into operation next year in July.”
The President assured the Chairman of the company that institutions have been established in the country to deal with the effect of unfair competition in domestic trade industries like dumping.
“I have asked the Chairman to immediately lodge a complaint to the Ghana International Trade Commission who will then be able to make recommendations to government to address this matter. We are determined to protect local industries and domestic manufacturing, and these institutions that have been set in place are essential to doing exactly that,” he assured.
SEC to revoke licences of more investment banks
The Securities and Exchange Commission (SEC) will soon shut down some investment firms operating in the country after it completes an ongoing forensic audit of some 21 investment companies, the Deputy Director-General of SEC has disclosed.
According to Paul Ababio, who refused to give further information on these firms, SEC is currently assessing the risk exposure levels of the 21 firms through a third party whose duty is to verify their assets and ascertain their interconnectedness to other players in the financial sector.
He said the commission has embarked on this move following complaints it received from customers of these investment banks.
“We had some complaints from the market about certain investment firms. What are we doing is to assess the level of exposure that the firms have; the level of risks in those businesses and then coming out of that, we will have a better understanding of the status of their operations,” Mr Ababio said.
“In our regular inspections, we get an appreciation of the state of these firms, but sometimes you need a third party to come in to verify where the assets are, and like how we talked about the interconnectedness. You get a better appreciation on actions you can take coming out of that,” he added.
Mr Ababio indicated that the commission will then take a decision to either shut down insolvent firms or provide support for those that are in good standing.
“It is highly likely we will see some revocation of licences. Some firms have actually surrendered their licences but we will take actions. Some will involve revocation some will involve suspension. But some will also involve restructuring,” he noted.
“We will obviously take a decision; some firms may have to be wind up. Other firms may be recoverable so if the portfolio is in good standing and can recover from where their positions are, we will ask them for a roadmap on how to address the challenges they face and how to also address investor concerns, and we hope that coming out of this certain significant actions will be taken to resolve some the challenges in the industry,” he explained.
It would be recalled that SEC, in April 2019, revoked the licences of some five investment companies; namely, Georgetown Capital Partners Ltd, Equity Capital Ltd, Index Analytics Ltd, DM Capital Ltd, and Oxygen Advisory Ltd. In pursuant to Section 122 of the Securities Industry Act, 2016 (Act 929).
Mr Ababio spoke to The Finder yesterday on the sides of Stanlib Dialogues 2019 on the theme ‘Surviving the Storm: Can the investment industry survive banking sector reforms?’
The event, organised by Stanbic Bank Ghana’s asset management arm, Stanlib Ghana, brought together representatives from across the financial sector, who discussed the health of the country’s investment banking industry.
The panellists were Mrs Elsie Enninful-Adu, member of the Governing Council of Ghana Securities Industry Association (GSIA); Mr Daniel Addo, Managing Director of the Consolidated Bank Ghana (CBG); Mr Osei Gyasi, Head of Banking Supervision at the Bank of Ghana (BoG); and Mr Paul Ababio of the Securities and Exchange Commission (SEC).
Privatisation is best option for TOR – Alex Mould
A former Chief Executive of the Ghana National Petroleum Corporation (GNPC) Alex Mould is proposing the privatisation of the Tema Oil Refinery (TOR) to put the firm on a strong footing.
According to Mr Mould privatisation could be one of the surest ways to deal with the challenges that have prevented the refinery from making good profits over the years.
Background
Mr Alex Mould’s proposal follows revelations in an internal management report which suggested that the company was facing some serious liquidity challenges that threatened its operations.
The Tema Oil Refinery Variance Report also notes that the liquidity challenge would make it difficult to meet operational expenses, such as utility bills, insurance premiums as well as statutory payments.
The report also revealed that the company was not in a good financial position to even pay its debts.
All the scenarios and financial assessment captured in the report indicate that the company was under serious stress.
It was clear in the documents that the company indeed made a loss of GHS185 million as at the end of April this year.
In 2017 TOR was said to have made the highest Gross Profit with the highest plant downtime i.e. the highest non-working days of the plant. However, some have argued that there is an inverse correlation with gross profit and plant-uptime.
The more the plant is not working the higher the gross profit of TOR
Putting TOR on a strong footing
The Former GNPC boss wants the government to improve the current state of infrastructure at the facility.
"I would advise the government to fix Tema Oil Refinery if it believes that the rate of return that they put into Tema Oil Refinery is good for them,” he said.
He also argued that government must look at TOR’s model again – that is whether it should still be a refinery or use it as a tank farm or bring on board a strategic investor to turn around the operations of the facility.
The former GNPC boss has also advised that the government should engage Bulk Distribution Companies (BDCs) to invest in the refinery.
But the managers of TOR have said they were putting in measures that will turn around the company’s fortunes.
The Head of Finance at the Refinery, Mr Daniel Appiah, told Joy Business that steps to clear a GHS1.85 billion debt and the resumption of full operation would deal with the challenge.
TOR debt recovery levy
Government around 2003 introduced some marginal levies on the price build-up on diesel and petrol.
This was expected to be used to reduce the TOR debt over the years.
The government later through the ESLA PLC issued bonds to clear the debts.
As at the end of April this year, the debt has been reduced to GHS1.85 billion after GHS1 billion of the debt was cleared by ESLA.
Some industry watchers have argued that if all the debts are cleared, then there could be a strong case for these levies to be removed. But the Former GNPC boss Alex Mould does not think so.
Ghana to hit 95% of mobile connectivity by 2020
Ghana is expected to hit 95 per cent of mobile telephone connectivity by next year, 2020, Mr Vincent Sowah Odotei, Deputy Minister of Communications announced on Wednesday.
He explained in Parliament that, the Ministry of Communications, through the Ghana Investment Fund for Communications (GIFEC) is in the process of procuring “appropriate and cost-effective” technologies under its Rural Telephony Project, to provide the needed connectivity to all unserved and underserved communities in Ghana.
The Deputy Minister’s assurance comes at the back of a question from Mr Samuel Okudzeto Ablakwa, MP for North Tongu, on behalf of Mr Geoffrey Kini, MP for Nkwanta South, who wanted to know when some communities in the Nkwanta South Municipality would be provided with mobile network connectivity.
The communities include Salifu, Bontibor, Kue, Pusupu, Abubruwa and B-Zongo.
Mr Odotei told the House that a drive test carried out in the Nkwanta South Municipality to assess mobile network connectivity for all the communities in the municipality revealed that network connectivity was available to some communities as Portipor, Nyambong and Alege Akura within the municipality.
However, those without connectivity would be served during the procurement exercise the Ministry was carrying out jointly with the GIFEC.
Ghanaian SMEs tap into expertise of UNOPS at possibilities forum to grow their business
A two-day event in Accra has equipped traditionally disadvantaged Ghanaian entrepreneurs with information that will help them increase client base, both within and outside Ghana.
Hosted by UNOPS Ghana in partnership with Ghana’s Office of the Minister of State-in-Charge of Public Procurement, the UNOPS Possibilities (UP) Forum is a capacity enhancement platform for local micro, small and medium-sized enterprises.
It strengthens national capacity in Ghana by providing enterprises owned by traditionally disadvantaged groups – in particular, businesses owned by women, youth, people with disabilities – with the information and tools needed to help them succeed.
Ifeoma Charles-Monwuba, UNOPS Ghana Country Director and Representative to Gambia, Ghana, Liberia, Sierra Leone and Nigeria said: “UNOPS is committed to supporting the government of Ghana in leaving no one behind, in line with its commitments to the SDGs and its own national policy. The UNOPS Possibilities Forum seeks to support enterprises to contribute meaningfully to the development of Ghana.”
Hon. Sarah Adwoa Safo, Minister of State-in-Charge of Public Procurement, said: “Micro, small and medium-sized enterprises play a crucial role in the development of Ghana and contributing to alleviating poverty. Ninety-two percent of companies in Ghana are in this category and they contribute to Seventy percent of Ghana’s GDP, so focusing on them is what we want to do”.
Hon. Carlos Kingsley Ahenkorah, Ghana’s Deputy Minister of Trade and Industry, said: “We hope that the UN and in particular UNOPS can assist our Ministry to strengthen a sustainability drive for micro, small and medium-sized enterprises in Ghana”.
In her keynote address, Hon. Akosua Frema Osei-Opare, Chief of Staff, Office of the President expressed her appreciation for the collaboration that led to the hosting of the event “I am grateful for the collaboration of Ministry of Procurement and UNOPS, and I hope that the UP Forum will support companies to learn about public procurement processes and opportunities, prepare themselves and be inspired by real life success stories.”
Sylvia Lopez Ekra, Resident Coordinator of Ghana ad interim (IOM Representative), said: “Micro, small and medium-sized enterprises play a big role in implementing the Sustainable Development Goals, as they create employment especially for those often left behind, such as women, youth and people with disabilities.”
Over the course of event, which started 24 July, participants have learned more about the government of Ghana’s mechanism that allocates 30 percent of public procurement spend to businesses owned by women, youth and people with disability.
They also discussed how to register in the UN Global Market Place and how to do business with UNOPS. Local entrepreneurs also shared their success stories with participants, to inspire them going forward.