Enterprise Life Assurance Company Limited (ELAC), in partnership with one of its partners, Barclays Bank of Ghana, has relaunched the Family Funeral Plan (FFP) Policy with upgraded and improved benefits.
The upgraded policy aims at providing prompt cash payout to clients to cover funeral expenses in the event of death.
The General Manager in charge of operations at ELAC, Ms Jacqueline Benyi, explained that the relaunching of FFP was to ensure that their products met the changing needs of their clients.
“As a business, you need to take feedback from customers and provide tailor-made products to meet this increasing need,” she said.
She said the revised plan could cover the life assured, the life assured’s spouse, children and the extended family, depending on the choice of the policy holder.
As part of the relaunch, staff of Barclays Bank, the bancassurance partner, and some selected staff of ELAC will wear branded T-shirts every Thursday to reemphasise the collaboration between ELAC and the bank.
The Managing Director of Barclays Bank of Ghana, Mr Benjamin Dabrah, said the relaunch of the policy was necessitated by the feedback they got from their clients on the need to improve benefits.
“We launched our bancassurance funeral policy three years ago and it sold very well on the market; the claims payment record has been excellent. But from time to time, we bring the voice of the customer into our organisation and we realised they wanted certain things to be added to the product,” he said.
He said although society did not like to talk about death, “unfortunately the reality is that it is inevitable, and whether we talk or think about it or not, it will happen so the earlier we start preparing for it the better.”
Mr Dabrah also noted that the collaboration between the bank and insurance companies was critical as they were both in the business of providing financial solutions to clients. He added, “insurance is a critical part of financial planning.”
The Director of Consumer Banking at Barclays Bank, Mr Nana Benneh, said policy holders could now enjoy cash back of 10 per cent of their total premium every five years.
He explained that under the upgraded policy, “clients get to enjoy double the sum assured to be paid to the beneficiary when a policy holder dies through accidental death.”
In line with this initiative, the company is giving an optional opportunity to its existing clients to upgrade their existing FFP policy and for prospective clients to sign up to enjoy these new benefits.
Thursday, 13 September 2012
Total holds grand draw of Drive and Win promotion
FIVE lucky winners were selected in the grand draw of the Total Drive & Win promotion for the Southern Zone in Accra.
They are Mr Lucian K Yawoh, the 1st prize winner (he won a Renault Duster SUV), Mohammed Salifu, who won a 32- inch Samsung LED TV, was the 2nd prize winner, and the 3rd prize of a Samsung Air Conditioner went to Mr Nimoh Innocent.
The 4th and 5th prize of a Samsung home theatre and an RLG mobile phone were won by Mr Anthony Austin.
The grand draw, which was conducted by the National Lottery Authority (NLA), marked the climax of activities implemented for the Total Drive & Win promotion.
According to the Sales and marketing Manager of Total, Mrs Marina Perez, the 3-month long promotion, which started on May 14, 2012, and ended on August 14, offered a triple chance to all motorists in Ghana to win fantastic prizes from Total throughout the period.
She said every Friday, throughout the 3-month promotion period, 70 lucky Total customers who purchased fuel from their stations across the country won Total branded gift bags full of prizes such as fuel vouchers (Tomcard), T- shirts, baseball caps, key rings, notepads, mp3 car chargers, car care products and car dusters.
“In June, a Mini Draw was held for both the Southern Zone and the Northern zones where a combined total of 10 lucky winners won various prizes including 32’’ LED TVs, Air conditioners and home theaters, all from Samsung and RLG mobile phones,” she said.
Mrs Perez also assured customers of better services in the coming year, adding “I urge you all to pass on the message to the motoring public out there to keep buying from Total and watch out for more promotions in the times ahead.”
The acting Managing Director of Total, Mr Emmanuel Menya- Hughes, said the Drive & Win promotion shows Total’s appreciation and dedication to its customers.
He also explained that in their passion to serve their customers better, the company was developing an ultra modern one- stop customer service centre which would be commissioned before the end of this year.
“Total will continue to remain a strong force in the Ghanaian Energy Industry in the years to come. We will, as usual, be guided by our core values, while at the same time we will remain fully committed in our responsibilities to all our stakeholders and to provide excellent quality products and services to our valued customers,” he said.
They are Mr Lucian K Yawoh, the 1st prize winner (he won a Renault Duster SUV), Mohammed Salifu, who won a 32- inch Samsung LED TV, was the 2nd prize winner, and the 3rd prize of a Samsung Air Conditioner went to Mr Nimoh Innocent.
The 4th and 5th prize of a Samsung home theatre and an RLG mobile phone were won by Mr Anthony Austin.
The grand draw, which was conducted by the National Lottery Authority (NLA), marked the climax of activities implemented for the Total Drive & Win promotion.
According to the Sales and marketing Manager of Total, Mrs Marina Perez, the 3-month long promotion, which started on May 14, 2012, and ended on August 14, offered a triple chance to all motorists in Ghana to win fantastic prizes from Total throughout the period.
She said every Friday, throughout the 3-month promotion period, 70 lucky Total customers who purchased fuel from their stations across the country won Total branded gift bags full of prizes such as fuel vouchers (Tomcard), T- shirts, baseball caps, key rings, notepads, mp3 car chargers, car care products and car dusters.
“In June, a Mini Draw was held for both the Southern Zone and the Northern zones where a combined total of 10 lucky winners won various prizes including 32’’ LED TVs, Air conditioners and home theaters, all from Samsung and RLG mobile phones,” she said.
Mrs Perez also assured customers of better services in the coming year, adding “I urge you all to pass on the message to the motoring public out there to keep buying from Total and watch out for more promotions in the times ahead.”
The acting Managing Director of Total, Mr Emmanuel Menya- Hughes, said the Drive & Win promotion shows Total’s appreciation and dedication to its customers.
He also explained that in their passion to serve their customers better, the company was developing an ultra modern one- stop customer service centre which would be commissioned before the end of this year.
“Total will continue to remain a strong force in the Ghanaian Energy Industry in the years to come. We will, as usual, be guided by our core values, while at the same time we will remain fully committed in our responsibilities to all our stakeholders and to provide excellent quality products and services to our valued customers,” he said.
Samsung launches 2012 Week Celebration
SAMSUNG Electronics Company Limited, a global leader in the distribution of digital media and technologies has launched its “2012 Samsung Week Celebration” in Accra.
The week- long event which is on the theme, “Creating the Future Together” will be held from September 17 to 23, 2012 in both Accra and Kumasi to reiterate Samsung’s commitment to positively impact the communities in which it operates.
During the celebration, Samsung will engage the public with its brand story as well as give back to society through its Corporate Social Responsibility (CSR) by inaugurating a borehole at Amansie near Kumasi to raise awareness about the dangers of Buruli Ulcer within the area.
In addition to the CSR outreach planned for the celebration in the country, the event would also bring festive brand activations that would reflect Samsung’s commitment to inspiring communities by leveraging new technologies, innovative products and creative solutions.
The week will also offer exciting brand experience activations with great giveaways as well as offer free service and repair of Samsung products including notebook PCs, cameras and mobile phones.
Customers who wiil purchase Samsung brand products worth GHC200 and more during the week will also receive two free Silverbird Cinema movie tickets.
The company will also organise a soccer event for the community and invite kip fit clubs on September 21 and also host an African legend night with Hugh Masakela on September 22 to wrap up events for the week.
According to the Chief Operating Officer of Samsung Electronics Africa, Mr George Ferreira, “Samsung is listening to the market, building partnerships and reenergising its commitment to Africa and its people”.
He said “In fact, this Samsung Week will mark the third in a series of eight Samsung Weeks taking place across the continent.”
Samsung he explained recognises Ghana’s rapid evolution to a technology savvy market that is heavily reliant on technology for everyday life.
“As a true testament to listening to our consumers, we at Samsung understand the unique needs of the African market and Africa as a whole. In this respect, we are proud to open up our brand to consumer engagement, and to support our communities with the celebration of Samsung Week in Ghana,” he said.
The week- long event which is on the theme, “Creating the Future Together” will be held from September 17 to 23, 2012 in both Accra and Kumasi to reiterate Samsung’s commitment to positively impact the communities in which it operates.
During the celebration, Samsung will engage the public with its brand story as well as give back to society through its Corporate Social Responsibility (CSR) by inaugurating a borehole at Amansie near Kumasi to raise awareness about the dangers of Buruli Ulcer within the area.
In addition to the CSR outreach planned for the celebration in the country, the event would also bring festive brand activations that would reflect Samsung’s commitment to inspiring communities by leveraging new technologies, innovative products and creative solutions.
The week will also offer exciting brand experience activations with great giveaways as well as offer free service and repair of Samsung products including notebook PCs, cameras and mobile phones.
Customers who wiil purchase Samsung brand products worth GHC200 and more during the week will also receive two free Silverbird Cinema movie tickets.
The company will also organise a soccer event for the community and invite kip fit clubs on September 21 and also host an African legend night with Hugh Masakela on September 22 to wrap up events for the week.
According to the Chief Operating Officer of Samsung Electronics Africa, Mr George Ferreira, “Samsung is listening to the market, building partnerships and reenergising its commitment to Africa and its people”.
He said “In fact, this Samsung Week will mark the third in a series of eight Samsung Weeks taking place across the continent.”
Samsung he explained recognises Ghana’s rapid evolution to a technology savvy market that is heavily reliant on technology for everyday life.
“As a true testament to listening to our consumers, we at Samsung understand the unique needs of the African market and Africa as a whole. In this respect, we are proud to open up our brand to consumer engagement, and to support our communities with the celebration of Samsung Week in Ghana,” he said.
Vodafone Business Solutions launches communication portfolio
VODAFONE Business Solutions, a specialist business unit within Vodafone Ghana has launched a unified communication portfolio aimed at increasing the productivity of businesses.
The services of the new portfolio include a Vodafone hosted Virtual PBX for business, hosted Audio and Video Conferencing Solutions, Vodafone Broadband Telephony for Business and an Information Technology (IT) managed security product.
According to the Head of Vodafone Business Solutions, Mr Derek Appiah, the introduction of these services was necessitated by the feedback gained from clients with the surging use of data by businesses.
He said as the use of data became robust, it offered new opportunities for businesses to get on and experience new services.
Vodafone Business Solutions, he explained was thus committed to using new services to improve productivity and infrastructure for people dedicated to the business market.
At the 3rd Information Technology (IT) Manager’s Forum organised by Vodafone Business Solutions, the Chief Executive Officer of Vodafone Ghana, Mr Kyle Whitehill, who addressed the forum through the Video Conferencing Service said the service offered a platform for people to communicate through different means.
The video conference, he also noted, was to provide a straightforward means for people to meet the numerous demands of their clients, who would be expected to have broadband connectivity.
He said the quality of the service was superior and also pledged Vodafone’s commitment to continue investing to provide better services for their customers.
Presenting an overview of the newly introduced services, the Head, Product and Propositions of Vodafone Business Solutions, Mr William Akwasi Agyei said the feedback from clients which indicated that mobility was becoming more important from a productivity point of view facilitated the launch of the service.
He said businesses were faced with challenges in their operations which the service had come to resolve, offering them a platform to increase productivity, collaboration, be cost efficient and offer a simplified user experience for businesses.
Vodafone Business Solutions, he explained was “empowering people to be highly productive through the freedom to choose when, where and how they work.”
He explained that Vodafone hosted Virtual PBX for Businesses, was a PBX based convergence communications service which allowed users to combine fixed and mobile telephony into a single unified platform for managing and receiving calls.
He said the service also allowed subscribers to ensure they never missed a call and benefitted from features such as a single auto attendant, extension dialing and a single web portal for managing all devices.”
He explained that with the new Virtual PBX complete product, most companies would save between 40 and 80 per cent on monthly phone costs, while customers would be able to save money as there was no cost incurred for the PBX hardware or software, no hardware maintenance or support fees and no hardware upgrade or enhancement costs among other benefits.
According to him the hosted Audio and Video Conferencing Solutions allowed dispersed teams, located anywhere in the world, to work together and exchange information as if they were in the same place.
The conferencing solutions would reduce unnecessary travel and cut cost, conduct more training sessions frequently and reach a wider audience as well as improve the ability of businesses to foster partnerships, he noted.
The Vodafone broadband telephony gives businesses the ability to connect existing analogue devices to their system and hosts communications services that integrates all corporate communications, Mr Akwasi Agyei addded.
The services of the new portfolio include a Vodafone hosted Virtual PBX for business, hosted Audio and Video Conferencing Solutions, Vodafone Broadband Telephony for Business and an Information Technology (IT) managed security product.
According to the Head of Vodafone Business Solutions, Mr Derek Appiah, the introduction of these services was necessitated by the feedback gained from clients with the surging use of data by businesses.
He said as the use of data became robust, it offered new opportunities for businesses to get on and experience new services.
Vodafone Business Solutions, he explained was thus committed to using new services to improve productivity and infrastructure for people dedicated to the business market.
At the 3rd Information Technology (IT) Manager’s Forum organised by Vodafone Business Solutions, the Chief Executive Officer of Vodafone Ghana, Mr Kyle Whitehill, who addressed the forum through the Video Conferencing Service said the service offered a platform for people to communicate through different means.
The video conference, he also noted, was to provide a straightforward means for people to meet the numerous demands of their clients, who would be expected to have broadband connectivity.
He said the quality of the service was superior and also pledged Vodafone’s commitment to continue investing to provide better services for their customers.
Presenting an overview of the newly introduced services, the Head, Product and Propositions of Vodafone Business Solutions, Mr William Akwasi Agyei said the feedback from clients which indicated that mobility was becoming more important from a productivity point of view facilitated the launch of the service.
He said businesses were faced with challenges in their operations which the service had come to resolve, offering them a platform to increase productivity, collaboration, be cost efficient and offer a simplified user experience for businesses.
Vodafone Business Solutions, he explained was “empowering people to be highly productive through the freedom to choose when, where and how they work.”
He explained that Vodafone hosted Virtual PBX for Businesses, was a PBX based convergence communications service which allowed users to combine fixed and mobile telephony into a single unified platform for managing and receiving calls.
He said the service also allowed subscribers to ensure they never missed a call and benefitted from features such as a single auto attendant, extension dialing and a single web portal for managing all devices.”
He explained that with the new Virtual PBX complete product, most companies would save between 40 and 80 per cent on monthly phone costs, while customers would be able to save money as there was no cost incurred for the PBX hardware or software, no hardware maintenance or support fees and no hardware upgrade or enhancement costs among other benefits.
According to him the hosted Audio and Video Conferencing Solutions allowed dispersed teams, located anywhere in the world, to work together and exchange information as if they were in the same place.
The conferencing solutions would reduce unnecessary travel and cut cost, conduct more training sessions frequently and reach a wider audience as well as improve the ability of businesses to foster partnerships, he noted.
The Vodafone broadband telephony gives businesses the ability to connect existing analogue devices to their system and hosts communications services that integrates all corporate communications, Mr Akwasi Agyei addded.
Monday, 27 August 2012
Cedi regaining strength – Barclays MD confirms
The confidence in the cedi is beginning to manifest because of the drastic measures intituted by the Bank of Ghana. Jessica Acheampong reports on the new trend.
Measures being put in place by the Bank of Ghana to halt the dwindling fortunes of the Cedi appear to be making headway as the local currency has stabilised significantly and the dollar and other foreign currencies in the last month, the Managing Director of Barclays Bank, Ghana, Mr Benjamin Dabrah, has confirmed.
“I think it has improved significantly over the last month, the rates have stabilised significantly and that shows that some of the steps that the central bank has taken are having effect,” Mr Dabrah told the Graphic Business in an interview.
According to the Merban Stockbrokers Ltd (MSL) The Cedi bounced back against the South African Rand as the close of business on Thursday August 23 but failed to hold its own against the United States dollar, the Euro, Pound, and the Swiss Franc.
Reviewing the activities of the curreny market the report said the cedi was down 0.84 per cent and 0.71 per cent against the Euro and the Pound with indicative rates on the interbank market inching up to GH¢2.42 and GH¢3.06 against the Euro and the Pound.
The Cedi also shaved 0.02 per cent and 0.83 per cent against the United States dollar and the Swiss Franc with mid-rates on the interbank market for the greenback and the Swiss Franc closing at GH¢1.93 and GH¢2.02 respectively.
Against the South African Rand, the Cedi clawed back 23.63 per cent with average rates on the interbank market reading GH¢0.23.
Since July 30 the United States dollars has remained at GH¢1.92 while the British pound sterling stood at GH¢3.01, according to the Ghana Bankers Association.
According to Mr Dabrah the cedi has not depreciated by more than one per cent in the last month adding “yes I can see that to the extent that we continue to take the necessary measures to protect the cedi we would have some more stability going forward.”
The central bank in a bid to make the local currency more attractive and reduce demand for foreign currency particularly the dollar deliberately relented on the release of dollars to banks, a situation which caused a lot of inconvenient for bank customers and traders in particular who trade with the dollar.
Mr Dabrah said “it is a bit uncomfortable and inconvenient for customers when they do not get the dollar but I believe that what should be the predominant legal tender in this country should be Cedi and not the dollar,”
He added that Ghana is a Cedi economy and anything done to make sure the Cedi remains the predominant legal tender is a good thing, something which he said the current situation was promoting.
Contrary to earlier speculations of dollar cash shortage in the system, Mr Dabrah explained that nothing of that sort was happening.
“If you go to the United States you would not find cedi cash, it’s natural that when you go to the economy of another country, you won’t find as much cash of a legal tender that is not the legal tender of that country,” he said.
According to him, there is absolutely nothing unusual about it and rather called for efforts to stop over dollarisation of the economy.
“There is no reason why nursery school fees are priced in dollars in Ghana, absolutely no reason, it’s not justified and I think we should get back to pricing commodities in Ghana Cedi,” he said.
He also debunked perceptions that banks where refusing to give dollar cash to their customers explaining “we are not refusing to give dollar cash, we give dollar cash when we have dollar cash, the reality is that there is not as much dollar cash in the system as it used to be.”
He also told the Graphic Business all circulation of dollars into the system was controlled by the central bank adding “you go to the central bank, sometimes they are able to give you everything you need, and sometimes they are not able to.”
That notwithstanding, the bank has measures put in place to help clients when it does not have enough dollar cash to meet their demands.
Mr Dabrah said “when we do not have dollar cash we try and understand what you need the dollar cash for and there are alternative ways of meeting their need.”
He said when people are travelling the bank gives them dollar denominated cards which they can use to withdraw dollar cash from ATMs and Point of Sales abroad implying there are other ways of giving people their money without necessarily counting cash into their hands.
Measures being put in place by the Bank of Ghana to halt the dwindling fortunes of the Cedi appear to be making headway as the local currency has stabilised significantly and the dollar and other foreign currencies in the last month, the Managing Director of Barclays Bank, Ghana, Mr Benjamin Dabrah, has confirmed.
“I think it has improved significantly over the last month, the rates have stabilised significantly and that shows that some of the steps that the central bank has taken are having effect,” Mr Dabrah told the Graphic Business in an interview.
According to the Merban Stockbrokers Ltd (MSL) The Cedi bounced back against the South African Rand as the close of business on Thursday August 23 but failed to hold its own against the United States dollar, the Euro, Pound, and the Swiss Franc.
Reviewing the activities of the curreny market the report said the cedi was down 0.84 per cent and 0.71 per cent against the Euro and the Pound with indicative rates on the interbank market inching up to GH¢2.42 and GH¢3.06 against the Euro and the Pound.
The Cedi also shaved 0.02 per cent and 0.83 per cent against the United States dollar and the Swiss Franc with mid-rates on the interbank market for the greenback and the Swiss Franc closing at GH¢1.93 and GH¢2.02 respectively.
Against the South African Rand, the Cedi clawed back 23.63 per cent with average rates on the interbank market reading GH¢0.23.
Since July 30 the United States dollars has remained at GH¢1.92 while the British pound sterling stood at GH¢3.01, according to the Ghana Bankers Association.
According to Mr Dabrah the cedi has not depreciated by more than one per cent in the last month adding “yes I can see that to the extent that we continue to take the necessary measures to protect the cedi we would have some more stability going forward.”
The central bank in a bid to make the local currency more attractive and reduce demand for foreign currency particularly the dollar deliberately relented on the release of dollars to banks, a situation which caused a lot of inconvenient for bank customers and traders in particular who trade with the dollar.
Mr Dabrah said “it is a bit uncomfortable and inconvenient for customers when they do not get the dollar but I believe that what should be the predominant legal tender in this country should be Cedi and not the dollar,”
He added that Ghana is a Cedi economy and anything done to make sure the Cedi remains the predominant legal tender is a good thing, something which he said the current situation was promoting.
Contrary to earlier speculations of dollar cash shortage in the system, Mr Dabrah explained that nothing of that sort was happening.
“If you go to the United States you would not find cedi cash, it’s natural that when you go to the economy of another country, you won’t find as much cash of a legal tender that is not the legal tender of that country,” he said.
According to him, there is absolutely nothing unusual about it and rather called for efforts to stop over dollarisation of the economy.
“There is no reason why nursery school fees are priced in dollars in Ghana, absolutely no reason, it’s not justified and I think we should get back to pricing commodities in Ghana Cedi,” he said.
He also debunked perceptions that banks where refusing to give dollar cash to their customers explaining “we are not refusing to give dollar cash, we give dollar cash when we have dollar cash, the reality is that there is not as much dollar cash in the system as it used to be.”
He also told the Graphic Business all circulation of dollars into the system was controlled by the central bank adding “you go to the central bank, sometimes they are able to give you everything you need, and sometimes they are not able to.”
That notwithstanding, the bank has measures put in place to help clients when it does not have enough dollar cash to meet their demands.
Mr Dabrah said “when we do not have dollar cash we try and understand what you need the dollar cash for and there are alternative ways of meeting their need.”
He said when people are travelling the bank gives them dollar denominated cards which they can use to withdraw dollar cash from ATMs and Point of Sales abroad implying there are other ways of giving people their money without necessarily counting cash into their hands.
Shun services of unlicensed microfinance institutions – BoG
The Bank of Ghana has cautioned the public to desist from patronising services of microfinance institutions whose credibility cannot be ascertained because they are not licensed.
According to the central bank, it was important for the public to be wary of such institutions to safeguard their own deposits and investments
The central bank, which has so far provided 204 provisional licenses out of the over 500 applications from microfinance institutions, gave the assurance that the bank was working hard to satisfy itself of their operations before issuing them with the final licenses.
“Very soon we shall be publishing the names of those who have been licensed by Bank of Ghana and those who have not would be forced to wound up as indicated in the guidelines,” the Head of Microfinance Unit of the Bank of Ghana, Dr Yaw Gyimah-Larbi, told the GRAPHIC BUSINESS in an interview.
He thus urged members of the public who doubt the credibility of some institutions to contact the Bank of Ghana and the apex body of the microfinance institutions, for help when in doubt.
Commenting on why the central bank had been silent on licensing after its deadline, Dr Gyimah-Larbi explained that the regulator wanted to give opportunities to more such institutions to apply for licensing to regularise their operations after the January 1, 2012 deadline.
“You can’t rush the process as these institutions prior to the licensing have taken people’s money and care has to be taken for them to refund all deposits,” he explained.
He added “before issuing a license it goes through an elaborate process and it is when we finally issue out the licence that we can say the institution is credible and the public can deal with them.”
Stressing on the need for licensing, Dr Gyimah- Larbi said “we have been emphasising that people should deal with licensed microfinance institutions that is why we are coming out with this regulation. The regulation is to build confidence and bring formality into the sector which hitherto was not available.”
According to him, any institution which did not take advantage of the licensing procedures would be forced to wind up after the elapse of the grace period.
According to the central bank, it was important for the public to be wary of such institutions to safeguard their own deposits and investments
The central bank, which has so far provided 204 provisional licenses out of the over 500 applications from microfinance institutions, gave the assurance that the bank was working hard to satisfy itself of their operations before issuing them with the final licenses.
“Very soon we shall be publishing the names of those who have been licensed by Bank of Ghana and those who have not would be forced to wound up as indicated in the guidelines,” the Head of Microfinance Unit of the Bank of Ghana, Dr Yaw Gyimah-Larbi, told the GRAPHIC BUSINESS in an interview.
He thus urged members of the public who doubt the credibility of some institutions to contact the Bank of Ghana and the apex body of the microfinance institutions, for help when in doubt.
Commenting on why the central bank had been silent on licensing after its deadline, Dr Gyimah-Larbi explained that the regulator wanted to give opportunities to more such institutions to apply for licensing to regularise their operations after the January 1, 2012 deadline.
“You can’t rush the process as these institutions prior to the licensing have taken people’s money and care has to be taken for them to refund all deposits,” he explained.
He added “before issuing a license it goes through an elaborate process and it is when we finally issue out the licence that we can say the institution is credible and the public can deal with them.”
Stressing on the need for licensing, Dr Gyimah- Larbi said “we have been emphasising that people should deal with licensed microfinance institutions that is why we are coming out with this regulation. The regulation is to build confidence and bring formality into the sector which hitherto was not available.”
According to him, any institution which did not take advantage of the licensing procedures would be forced to wind up after the elapse of the grace period.
MOFA releases 16 new crop varieties
The Ministry of Food and Agriculture has released sixteen newly improved crop varieties for commercialization.
They included three cocoyam, six maize, four groundnut and three cowpea improved varieties which are high yielding, tolerant to diseases, pests and drought.
The varieties which were developed by the Council for Scientific and Industrial Research – Crops research Institute were recommended for sale on a large scale by the National Variety Release Committee.
The varieties of maize included Three Way Hybrid (White); Top Cross Hybrid (White); Single Cross Hybrid (Yellow); and OPV (Yellow_.
The Hybrid Maize, which was part of the new array of maize released, is noted to yield higher than the Open Pollinated varieties (OPVs). They are drought tolerant to mitigate some of the effects of climate change on maize production.
These new varieties of maize also address the issue of the high prevalence of Vitamin A deficiency (VAD) in Ghana.
The varieties of cocoyam included SCJ 98/005 which goes by the local name “Gye me di” meaning “Believe me”, AGA 97/162 also known as “Obo Ntem” meaning “Early Yielding” and SW 011or “Maye yie” also meaning “I am well off”.
For the Cowpea variety, they comprised of IT93K-192-4 with the local name, “Hewale” meaning “strength”, IT94K-410-2 or “Asomdwee” meaning “Peace” and IT95K-142-20 also known as “Videfuu (vide le enju fuu) which means “Profitable”.
The new varieties of groundnut included ICGV97049 which goes by the local name “Oboolo” meaning “Big”, ICGV98412 also known as “Obooshi” meaning “Big”, ICGV88709 or “Otuhia” which means “Drives away poverty,” and ICGX SM-87057 or “Yenyawoso” meaning “None like you.”
These local names were assigned to the released varieties to reflect their attributes.
According to the Minister of Food and agriculture, Mr Kwesi Ahwoi, the varieties were developed with the ultimate objective of helping to increase productivity, farmers’ income and reduce poverty, promote gender equality and empower women, reduce child mortality and improve maternal health.
The new varieties he also explained when listed in the National Catalogue would afford the institution or breeders the opportunity to publicise the materials within the sub- regions with a major advantage being the exposure to international markets and reduction in poaching of Ghanaian intellectual works for commercialization in other countries.
Cocoyam production according to the Minister has over the years had its own setbacks owing to the abuse and misuse of agrochemicals on farm lands.
“Between 2009 and 2010, the level of cocoyam production dropped by 2.14 per cent and dropped further by 4 per cent in 2011.” He said.
Subsequently he explained the need to explore all opportunities available to stem the downward trends in the production of the crop being experienced in the past few years adding “Cocoyam is a food security crop in Ghana, as majority of the rural community relies on it when other crops fail.”
The Minister also commended the hard work of our distinguished scientists and researchers for their committed and tireless efforts in coming out with these varieties and charged them to work assiduously to maintain and promote the varieties.
The Director of Council for Scientific and Industrial Research – Crops research Institute, Reverend Dr Hans Adu Dapaah told the Graphic Business in an interview the improved varieties had gone through series of evaluations and testing prior to its recommendation for commercialization.
The crops he said were tested for two to three years before its release and in line with that urged farmers to adopt the recommendations that have been provided to go along with the released varieties.
In terms of increasing yield, he explained the new materials have out yielded all existing ones in the system, stressing “in terms of yield, nutritional attribute, they are superior to the varieties that were released earlier on and that is why the National Variety and Release Committee deemed it fit to recommend them for release.”
Subsequently, the Ministry has released a manual to enlighten people on procedures for the release and registration of crop varieties in Ghana.
The 35-page manual titled ‘Procedures for Release and Registration of Crop Genetic Material’ seeks to clearly define the sequence of processes, interfaces and responsibilities that are required for the release and registration of crop genetic materials.
They included three cocoyam, six maize, four groundnut and three cowpea improved varieties which are high yielding, tolerant to diseases, pests and drought.
The varieties which were developed by the Council for Scientific and Industrial Research – Crops research Institute were recommended for sale on a large scale by the National Variety Release Committee.
The varieties of maize included Three Way Hybrid (White); Top Cross Hybrid (White); Single Cross Hybrid (Yellow); and OPV (Yellow_.
The Hybrid Maize, which was part of the new array of maize released, is noted to yield higher than the Open Pollinated varieties (OPVs). They are drought tolerant to mitigate some of the effects of climate change on maize production.
These new varieties of maize also address the issue of the high prevalence of Vitamin A deficiency (VAD) in Ghana.
The varieties of cocoyam included SCJ 98/005 which goes by the local name “Gye me di” meaning “Believe me”, AGA 97/162 also known as “Obo Ntem” meaning “Early Yielding” and SW 011or “Maye yie” also meaning “I am well off”.
For the Cowpea variety, they comprised of IT93K-192-4 with the local name, “Hewale” meaning “strength”, IT94K-410-2 or “Asomdwee” meaning “Peace” and IT95K-142-20 also known as “Videfuu (vide le enju fuu) which means “Profitable”.
The new varieties of groundnut included ICGV97049 which goes by the local name “Oboolo” meaning “Big”, ICGV98412 also known as “Obooshi” meaning “Big”, ICGV88709 or “Otuhia” which means “Drives away poverty,” and ICGX SM-87057 or “Yenyawoso” meaning “None like you.”
These local names were assigned to the released varieties to reflect their attributes.
According to the Minister of Food and agriculture, Mr Kwesi Ahwoi, the varieties were developed with the ultimate objective of helping to increase productivity, farmers’ income and reduce poverty, promote gender equality and empower women, reduce child mortality and improve maternal health.
The new varieties he also explained when listed in the National Catalogue would afford the institution or breeders the opportunity to publicise the materials within the sub- regions with a major advantage being the exposure to international markets and reduction in poaching of Ghanaian intellectual works for commercialization in other countries.
Cocoyam production according to the Minister has over the years had its own setbacks owing to the abuse and misuse of agrochemicals on farm lands.
“Between 2009 and 2010, the level of cocoyam production dropped by 2.14 per cent and dropped further by 4 per cent in 2011.” He said.
Subsequently he explained the need to explore all opportunities available to stem the downward trends in the production of the crop being experienced in the past few years adding “Cocoyam is a food security crop in Ghana, as majority of the rural community relies on it when other crops fail.”
The Minister also commended the hard work of our distinguished scientists and researchers for their committed and tireless efforts in coming out with these varieties and charged them to work assiduously to maintain and promote the varieties.
The Director of Council for Scientific and Industrial Research – Crops research Institute, Reverend Dr Hans Adu Dapaah told the Graphic Business in an interview the improved varieties had gone through series of evaluations and testing prior to its recommendation for commercialization.
The crops he said were tested for two to three years before its release and in line with that urged farmers to adopt the recommendations that have been provided to go along with the released varieties.
In terms of increasing yield, he explained the new materials have out yielded all existing ones in the system, stressing “in terms of yield, nutritional attribute, they are superior to the varieties that were released earlier on and that is why the National Variety and Release Committee deemed it fit to recommend them for release.”
Subsequently, the Ministry has released a manual to enlighten people on procedures for the release and registration of crop varieties in Ghana.
The 35-page manual titled ‘Procedures for Release and Registration of Crop Genetic Material’ seeks to clearly define the sequence of processes, interfaces and responsibilities that are required for the release and registration of crop genetic materials.
Take advantage of investment opportunities - Mensah
The Director of Intel Capital, Sub-Saharan Africa, Mr Samuel Mensah Jr, has urged investors to take advantage of investment opportunities in Africa to facilitate the growth of the continent.
The larger economy, he explains, holds great growth prospects for investors who would take advantage of the growing rate of innovation in the continent.
Speaking in an interview with the Daily Graphic, he said about a billion people in Africa did more with mobile phones and consumed more mobile content hence the need to help such service providers and other companies to expand their network.
He also said there was room in Africa for innovation to supply new services and added, “this is a good time to talk about investments.”
The company, he explained, had therefore injected capital into Rancard Solutions, a cloud-based software for mobile content discovery and delivery company in the country, in line with their quest to help grow the creation of local content.
The investment, according to Mr Mensah Jr, is to give the company more capital to accelerate their operations, ideas and drive for innovation.
He said Intel’s investments into Rancard signify collaboration between the two companies which is aimed at capitalising not only the company but facilitating their growth.
Intel Capital, he explained, is keen on seeing local content consumed in Africa hence their initiative to ensure that customers creating content are able to receive funds needed to find customers to make their company grow.
Although he would not disclose the exact amount being invested into Rancard, Mr Mensah said the company invests some money in technology companies every year depending on the great investment proposals they receive. He also explained that the company invests in companies for strategic reasons and not just for financial reasons, adding Rancard provides services to meet the needs of local content users hence their decision to support them.
The Chief Product Officer of Rancard, Mr Ehizogie Binite, said the capital boost from Intel Capital would elevate the company at both an operational and reputational level.
At the operational level, he explained, the company would improve its capabilities to expand their markets and operations.
The larger economy, he explains, holds great growth prospects for investors who would take advantage of the growing rate of innovation in the continent.
Speaking in an interview with the Daily Graphic, he said about a billion people in Africa did more with mobile phones and consumed more mobile content hence the need to help such service providers and other companies to expand their network.
He also said there was room in Africa for innovation to supply new services and added, “this is a good time to talk about investments.”
The company, he explained, had therefore injected capital into Rancard Solutions, a cloud-based software for mobile content discovery and delivery company in the country, in line with their quest to help grow the creation of local content.
The investment, according to Mr Mensah Jr, is to give the company more capital to accelerate their operations, ideas and drive for innovation.
He said Intel’s investments into Rancard signify collaboration between the two companies which is aimed at capitalising not only the company but facilitating their growth.
Intel Capital, he explained, is keen on seeing local content consumed in Africa hence their initiative to ensure that customers creating content are able to receive funds needed to find customers to make their company grow.
Although he would not disclose the exact amount being invested into Rancard, Mr Mensah said the company invests some money in technology companies every year depending on the great investment proposals they receive. He also explained that the company invests in companies for strategic reasons and not just for financial reasons, adding Rancard provides services to meet the needs of local content users hence their decision to support them.
The Chief Product Officer of Rancard, Mr Ehizogie Binite, said the capital boost from Intel Capital would elevate the company at both an operational and reputational level.
At the operational level, he explained, the company would improve its capabilities to expand their markets and operations.
Three entrepreneurs honoured at Festival of Ideas
Three entrepreneurs have been awarded at this year’s edition of the “Festival of Ideas” for their ideas which have imparted positively on society.
The winners are: Mr Franklin Cudjoe, a founding director of IMANI; Dr G. Ayorkor Korsah, an Assistant Professor of Computer Science at Ashesi University College and Mr John Armah, Chief Executive Officer for Entrepreneurship, Employment and Innovation who each received a bouquet and GHC2,000.
A host of the conference, Mr Albert Ocran, said celebrating heroes with great ideas was necessary to spur others on to achieve similar feat, and added that there had been a paradigm shift from the presentation of plaques to cash this year to help the entrepreneurs raise their capital base to enhance their operations.
Festival of Ideas 2012, which is held on the theme: “Ghana 2022, A Peek into the Future,” was organised by Legacy and Legacy in partnership with Otabil and Associates and Corporate Ghana.
According to conference hosts, Mr Albert and Comfort Ocran, the platform provided at the conference participants and resource persons an informal preview or forecast of the state of the global and local economy, leadership, technology and business in the next decade.
“Every August, captains of industry, entrepreneurs, corporate executives and professionals converge in this unique convocation to focus on information and ideas as resources for business development and wealth creation,” they said.
Dr Mensa Otabil, CEO, Otabil and Associates, speaking on the topic, Visionary Leadership: Leading beyond the next decade, stressed that good leadership is crucial in every aspect of life.
He said leaders must be bold, courageous, strategic and tacticians, as well as good organisers, to meet the expectations of the people they lead.
He said it was time citizens demanded the best from entrepreneurs and from the people who seek to lead them since no one can build the future with a pessimistic approach to life, adding “if you demand you will get what you want.”
He also charged people to say and work their ideas instead of being petty and mediocre about their ideas. He also encouraged participants at the conference to keep running on the path of success, bearing in mind where they are going, how to get there, what they are using to get there and who will drive them there.
According to him ”you can’t create the future until you defy reality” and stressed the need for people to choose leaders who are warriors and who go to war and win battles before singing praises in their favour.
The Managing Director of Graphic Communications Group Limited, Mr Ken Ashigbey, advocated the need for people to challenge the status quo and shun mediocre behaviours the affect development.
He also urged parents to encourage their children to be bold to change things around them, develop a positive attitude towards life and become transformational leaders.
Picture: The Managing Director of Graphic Comm Group. Ltd., Mr Kenneth Ashigbey (left), presenting an award to Mr Franklin Cudjoe of Imani. Photo: Charles Benoni Okine
The winners are: Mr Franklin Cudjoe, a founding director of IMANI; Dr G. Ayorkor Korsah, an Assistant Professor of Computer Science at Ashesi University College and Mr John Armah, Chief Executive Officer for Entrepreneurship, Employment and Innovation who each received a bouquet and GHC2,000.
A host of the conference, Mr Albert Ocran, said celebrating heroes with great ideas was necessary to spur others on to achieve similar feat, and added that there had been a paradigm shift from the presentation of plaques to cash this year to help the entrepreneurs raise their capital base to enhance their operations.
Festival of Ideas 2012, which is held on the theme: “Ghana 2022, A Peek into the Future,” was organised by Legacy and Legacy in partnership with Otabil and Associates and Corporate Ghana.
According to conference hosts, Mr Albert and Comfort Ocran, the platform provided at the conference participants and resource persons an informal preview or forecast of the state of the global and local economy, leadership, technology and business in the next decade.
“Every August, captains of industry, entrepreneurs, corporate executives and professionals converge in this unique convocation to focus on information and ideas as resources for business development and wealth creation,” they said.
Dr Mensa Otabil, CEO, Otabil and Associates, speaking on the topic, Visionary Leadership: Leading beyond the next decade, stressed that good leadership is crucial in every aspect of life.
He said leaders must be bold, courageous, strategic and tacticians, as well as good organisers, to meet the expectations of the people they lead.
He said it was time citizens demanded the best from entrepreneurs and from the people who seek to lead them since no one can build the future with a pessimistic approach to life, adding “if you demand you will get what you want.”
He also charged people to say and work their ideas instead of being petty and mediocre about their ideas. He also encouraged participants at the conference to keep running on the path of success, bearing in mind where they are going, how to get there, what they are using to get there and who will drive them there.
According to him ”you can’t create the future until you defy reality” and stressed the need for people to choose leaders who are warriors and who go to war and win battles before singing praises in their favour.
The Managing Director of Graphic Communications Group Limited, Mr Ken Ashigbey, advocated the need for people to challenge the status quo and shun mediocre behaviours the affect development.
He also urged parents to encourage their children to be bold to change things around them, develop a positive attitude towards life and become transformational leaders.
Picture: The Managing Director of Graphic Comm Group. Ltd., Mr Kenneth Ashigbey (left), presenting an award to Mr Franklin Cudjoe of Imani. Photo: Charles Benoni Okine
BoG licences susu collectors
THE Bank of Ghana (BoG) has presented licences to 246 individuals and enterprises as part of measures to regularise the operations of susu collectors.
The certification of the first batch of operators signify the central bank’s endorsement of their operations after conducting the necessary checks on their applications for licencing and subsequent certification.
The central bank authorised the apex body of all susu collectors, the Ghana Corporative Susu Collectors Association (GCSCA), to regulate and supervise activities of all susu collectors and enterprises in the country.
Although the association registered over 450 susu operators, due diligence on them recommended that only 246 were eligible for licencing by the BoG.
Briefing the media, the General Secretary of the Association, Mr Obed Asamany, said to distinguish licenced operators from unlicenced ones, the association would issue identification cards to all licenced operators which would be carried along at all times.
“In an effort to standardise their operations, we will introduce uniform documentation materials in the form of passbooks to the collectors to be issued to clients," he added.
He also explained that operators as well as their agents would be given uniform jackets to wear, which would have the GCSCA inscription at the back.
According to him, regularising the operations of susu collectors will protect the integrity of genuine and serious-minded men and women who are engaged in the profession and eventually protect depositors’ funds from unscrupulous charlatans who dupe their unsuspecting clients.
“Monitoring and supervising members will be conducted throughout the country,” he said and added that "monthly returns on the operations of members shall be collected to assess their performance and compliance with defined rules and benchmarks for technical advice on financial health and operational sustainability.”
The assistant director in charge of Finance House and Microfinance at the Bank of Ghana cautioned the public to desist from doing business with unlicenced susu collectors.
The licenced operators, he explained, should engage in only susu collections which involved "the periodic collection of deposits from the public and the refund of such accumulated deposits at the designated times for a fee."
He said the operators should not operate branches or lend to the public and added that those who would flout the regulation after licencing would be punished.
The certification of the first batch of operators signify the central bank’s endorsement of their operations after conducting the necessary checks on their applications for licencing and subsequent certification.
The central bank authorised the apex body of all susu collectors, the Ghana Corporative Susu Collectors Association (GCSCA), to regulate and supervise activities of all susu collectors and enterprises in the country.
Although the association registered over 450 susu operators, due diligence on them recommended that only 246 were eligible for licencing by the BoG.
Briefing the media, the General Secretary of the Association, Mr Obed Asamany, said to distinguish licenced operators from unlicenced ones, the association would issue identification cards to all licenced operators which would be carried along at all times.
“In an effort to standardise their operations, we will introduce uniform documentation materials in the form of passbooks to the collectors to be issued to clients," he added.
He also explained that operators as well as their agents would be given uniform jackets to wear, which would have the GCSCA inscription at the back.
According to him, regularising the operations of susu collectors will protect the integrity of genuine and serious-minded men and women who are engaged in the profession and eventually protect depositors’ funds from unscrupulous charlatans who dupe their unsuspecting clients.
“Monitoring and supervising members will be conducted throughout the country,” he said and added that "monthly returns on the operations of members shall be collected to assess their performance and compliance with defined rules and benchmarks for technical advice on financial health and operational sustainability.”
The assistant director in charge of Finance House and Microfinance at the Bank of Ghana cautioned the public to desist from doing business with unlicenced susu collectors.
The licenced operators, he explained, should engage in only susu collections which involved "the periodic collection of deposits from the public and the refund of such accumulated deposits at the designated times for a fee."
He said the operators should not operate branches or lend to the public and added that those who would flout the regulation after licencing would be punished.
Mango project receives assistance
THE Export Development and Investment Fund (EDIF) has partnered the Adventist Development and Relief Agency, ADRA Ghana, to provide technical support for EDIF-supported mango projects in the savannah zone.
The partnership will help promote large-scale farming in the assigned areas that comprise the northern part of the Volta Region, Brong Ahafo, Upper East, Upper West and northern regions.
The two parties have consequently signed a memorandum of understanding (MoU) to actualise the programme.
According to the acting Chief Executive Officer of EDIF, Dr Abdul- Nashiru Issahaku, the collaboration is to capitalise on the expertise of ADRA in the provision of technical assistance to achieve the targeted results of the project, as it seeks to become a source of raw mango for export, add value to locally produced products and generate foreign exchange for the economy through exports.
He said there was the need to partner institutions with expertise to achieve results; hence, their decision to engage ADRA in the project.
ADRA, he explained, would assess the technical state of the projects, determine needed resources and make further recommendations, assess the needs of the 72 beneficiaries of the project and provide training and technical skills and relevant support for the project to achieve results.
He also noted that in terms of value addition to produced fruits, the company would inaugurate a facility to provide financial resources to processors very soon.
The Director for Agriculture and Food Security Programmes at ADRA Ghana, Mr Samuel Asante-Mensah, said the company was delighted to partner EDIF to embark on this project, because of the importance of tree crops to farmers in terms of yielded incomes.
He, therefore, pledged the company’s support to ensure the success of the programme by increasing the income of beneficiaries and foreign exchange inflow into the country through the export of the mangoes.
Their support, he said, would include site selection, land preparation, planting, fertilisation, pruning, pest control and harvesting.
According to him, there is a high demand in Europe and the Middle East for both processed and unprocessed mangoes, so the project is needed to produce beyond local consumption and for export.
The EDIF’s mission is to enhance the economic growth of Ghana through the provision of funds on concessionary terms for the development and promotion of the country’s export.
The partnership will help promote large-scale farming in the assigned areas that comprise the northern part of the Volta Region, Brong Ahafo, Upper East, Upper West and northern regions.
The two parties have consequently signed a memorandum of understanding (MoU) to actualise the programme.
According to the acting Chief Executive Officer of EDIF, Dr Abdul- Nashiru Issahaku, the collaboration is to capitalise on the expertise of ADRA in the provision of technical assistance to achieve the targeted results of the project, as it seeks to become a source of raw mango for export, add value to locally produced products and generate foreign exchange for the economy through exports.
He said there was the need to partner institutions with expertise to achieve results; hence, their decision to engage ADRA in the project.
ADRA, he explained, would assess the technical state of the projects, determine needed resources and make further recommendations, assess the needs of the 72 beneficiaries of the project and provide training and technical skills and relevant support for the project to achieve results.
He also noted that in terms of value addition to produced fruits, the company would inaugurate a facility to provide financial resources to processors very soon.
The Director for Agriculture and Food Security Programmes at ADRA Ghana, Mr Samuel Asante-Mensah, said the company was delighted to partner EDIF to embark on this project, because of the importance of tree crops to farmers in terms of yielded incomes.
He, therefore, pledged the company’s support to ensure the success of the programme by increasing the income of beneficiaries and foreign exchange inflow into the country through the export of the mangoes.
Their support, he said, would include site selection, land preparation, planting, fertilisation, pruning, pest control and harvesting.
According to him, there is a high demand in Europe and the Middle East for both processed and unprocessed mangoes, so the project is needed to produce beyond local consumption and for export.
The EDIF’s mission is to enhance the economic growth of Ghana through the provision of funds on concessionary terms for the development and promotion of the country’s export.
Government urged to promote use of ICT
Economists have advocated the need for the government to leverage the use of Information Communication Technology (ICT) to promote socio-economic growth.
According to a renowned economist, Mr Kwame Pianim, the world had become technologically intensive, and Ghana would be pushed to the periphery of the global economy if it did not leverage on the intense usage of ICT.
Speaking on the theme “e-Payment as a Vehicle for Economic Development” at a press briefing organised by E-Transact, a leading payment platform in the country, Mr Pianim said “if you are an economy like Ghana and you do not become technology intensive and ICT empowered, you will be pushed increasingly to the periphery of global growth, and in terms of increasing standards of living, and you will continue to remain poor.”
He said both the government and businesses could benefit from this technology boom which has transformed economies in other parts of the world.
According to him, recent studies into economic development suggest that Gross Domestic Product (GDP) growth in a country is closely co-related with development of infrastructure; quoting the Waverman study which suggests that a 10 per cent increase in public mobile penetration could lead to 0.59 per cent increase in GDP in a typical developing economy.
He was, however, quick to add that economic growth through development could only be achieved with the right infrastructure, in that “If you are talking about ICT, you need a broadband, a network and you have to have inter-connectivity. So it means that our telephone operators have to become efficient”.
“And if I need money from the Automated Teller Machine (ATM), it means that the ATM has to be properly maintained; this means that electricity has to be stable”, he said.
Mr Pianim was of the opinion that it was not surprising that the biggest global enterprise in terms of value is Apple and not Exon mobile, stressing, “it is how the world has become technologically intensive”.
The Director of Application System of the National Information Technology Agency, Ms Veronica Boateng, outlined some of the governments services that could be delivered online.
She said passport applicants could submit their requests online to the passport office, adding that the infrastructure would be integrated with the e-payment platform to enable applicants to make payments online.
“We also have services like the police background check, the renewal of drivers’ licences, which can also be done online. We have the Accra Metropolitan Assembly (AMA) delivering online marriage licences etc. All these agencies are delivering these services online to ensure that the citizens have a much more expedient way of getting the services from the agencies,” she said.
According to a renowned economist, Mr Kwame Pianim, the world had become technologically intensive, and Ghana would be pushed to the periphery of the global economy if it did not leverage on the intense usage of ICT.
Speaking on the theme “e-Payment as a Vehicle for Economic Development” at a press briefing organised by E-Transact, a leading payment platform in the country, Mr Pianim said “if you are an economy like Ghana and you do not become technology intensive and ICT empowered, you will be pushed increasingly to the periphery of global growth, and in terms of increasing standards of living, and you will continue to remain poor.”
He said both the government and businesses could benefit from this technology boom which has transformed economies in other parts of the world.
According to him, recent studies into economic development suggest that Gross Domestic Product (GDP) growth in a country is closely co-related with development of infrastructure; quoting the Waverman study which suggests that a 10 per cent increase in public mobile penetration could lead to 0.59 per cent increase in GDP in a typical developing economy.
He was, however, quick to add that economic growth through development could only be achieved with the right infrastructure, in that “If you are talking about ICT, you need a broadband, a network and you have to have inter-connectivity. So it means that our telephone operators have to become efficient”.
“And if I need money from the Automated Teller Machine (ATM), it means that the ATM has to be properly maintained; this means that electricity has to be stable”, he said.
Mr Pianim was of the opinion that it was not surprising that the biggest global enterprise in terms of value is Apple and not Exon mobile, stressing, “it is how the world has become technologically intensive”.
The Director of Application System of the National Information Technology Agency, Ms Veronica Boateng, outlined some of the governments services that could be delivered online.
She said passport applicants could submit their requests online to the passport office, adding that the infrastructure would be integrated with the e-payment platform to enable applicants to make payments online.
“We also have services like the police background check, the renewal of drivers’ licences, which can also be done online. We have the Accra Metropolitan Assembly (AMA) delivering online marriage licences etc. All these agencies are delivering these services online to ensure that the citizens have a much more expedient way of getting the services from the agencies,” she said.
MoFA launches crop variety registration manual
The Ministry of Food and Agriculture (MoFA) has launched a manual to educate people on procedures for the release and registration of crop varieties in Ghana.
The 35-page manual titled ‘Procedures for Release and Registration of Crop Genetic Material’ seeks to clearly define the sequence of processes, interfaces and responsibilities that are required for the release and registration of crop genetic materials.
Launching the manual, the Minister of Food and Agriculture, Mr Kwesi Ahwoi, said the harmonisation of the procedure would also enable governments in the sub-region to pool their resources to deal with common problems.
He added that the procedures, as defined by the manual, also provided for the establishment of a catalogue of crop genetic materials.
Mr Ahwoi explained that “the variety release and registration procedure that we are launching today is a manifestation of the acceptance, on our part, of new ways of doing things in response to the demands of globalisation.”
These procedures are consistent with Section 43 of Part Two of the Plants and Fertilizer Act, 2010 (Act 803), which provides for the registration of genetic materials, including those developed from outside Ghana.
“In addition to the outlined procedures for the release and registration of genetic materials, the manual also includes protocols for evaluating for Distinctness, Uniformity and Stability (DUS); and Value for Cultivation and Use (VCU) for the following crops: maize, rice, cowpea, cassava, yam, sorghum, groundnuts, and sweet-potato as appendices,” he said.
The protocols, he explained, were to provide for standard variety evaluation procedures for either accepting or rejecting a request for the registration of a variety.
He was thus optimistic that the document would be implemented effectively so that the research institutions, policy makers, the private sector, especially farmers, seed growers and potential investors, as well as development partners would benefit from it.
Giving a background of events leading to the launch of this document, Mr Ahwoi said the West African Agricultural Productivity Programme (WAAPP) which is a sub-regional agricultural development programme with focus on achieving increases in productivity at the farmer level through the harmonisation of resources for research and development, identified the need for member countries to harmonise a number of national processes with sub-regional frameworks.
He thus explained that the development and release of crop varieties in Ghana had been based on established procedures that would enable all stakeholders to contribute to the decision to approve the release of varieties.
The minister also used the occasion to declare the release of some improved crop varieties developed by the Council for Scientific and Industrial Research and recommended by the National Variety Release Committee for commercialisation.
The 35-page manual titled ‘Procedures for Release and Registration of Crop Genetic Material’ seeks to clearly define the sequence of processes, interfaces and responsibilities that are required for the release and registration of crop genetic materials.
Launching the manual, the Minister of Food and Agriculture, Mr Kwesi Ahwoi, said the harmonisation of the procedure would also enable governments in the sub-region to pool their resources to deal with common problems.
He added that the procedures, as defined by the manual, also provided for the establishment of a catalogue of crop genetic materials.
Mr Ahwoi explained that “the variety release and registration procedure that we are launching today is a manifestation of the acceptance, on our part, of new ways of doing things in response to the demands of globalisation.”
These procedures are consistent with Section 43 of Part Two of the Plants and Fertilizer Act, 2010 (Act 803), which provides for the registration of genetic materials, including those developed from outside Ghana.
“In addition to the outlined procedures for the release and registration of genetic materials, the manual also includes protocols for evaluating for Distinctness, Uniformity and Stability (DUS); and Value for Cultivation and Use (VCU) for the following crops: maize, rice, cowpea, cassava, yam, sorghum, groundnuts, and sweet-potato as appendices,” he said.
The protocols, he explained, were to provide for standard variety evaluation procedures for either accepting or rejecting a request for the registration of a variety.
He was thus optimistic that the document would be implemented effectively so that the research institutions, policy makers, the private sector, especially farmers, seed growers and potential investors, as well as development partners would benefit from it.
Giving a background of events leading to the launch of this document, Mr Ahwoi said the West African Agricultural Productivity Programme (WAAPP) which is a sub-regional agricultural development programme with focus on achieving increases in productivity at the farmer level through the harmonisation of resources for research and development, identified the need for member countries to harmonise a number of national processes with sub-regional frameworks.
He thus explained that the development and release of crop varieties in Ghana had been based on established procedures that would enable all stakeholders to contribute to the decision to approve the release of varieties.
The minister also used the occasion to declare the release of some improved crop varieties developed by the Council for Scientific and Industrial Research and recommended by the National Variety Release Committee for commercialisation.
Producer Inflation declines marginally
PRODUCER Price Inflation, which measures the average change over time in the prices received by domestic producers for the production of their goods and services, declined marginally in July by 1.1 per cent to settle at 19.0 per cent.
Consequently, the month-on-month change in producer prices recorded 0.7 per cent, following a rate of 2.5 per cent in June 2012.
According to the acting Government Statistician, Dr Philomena Nyarko, the decline in the rates are as a result of 3 major declines in the performance of these sectors, manufacturing of food products and beverages, textiles and chemical products.
These three groups she said recorded lower inflation rates of 16.5 per cent, 57.1 per cent and 10.1 per cents respectively as compared to rates they recorded in June 2012.
The monthly changes in the producer price index indicated that mining and quarrying recorded the highest rate of 2.4 per cent, followed by manufacturing with 0.4 per cent and utilities with 0.7 per cent.
Dr Nyarko also explained that, mining and quarrying recorded the highest year- on- year producer inflation rate of 20.3 per cent, followed by manufacturing with 20.0 per cent and utilities with 10.6 per cent.
“The producer price inflation in the mining and quarrying sector increased by approximately 0.8 per cent points over the June 2012 rate of 19.5 per cent to record 20.3 percent,” she said.
Manufacturing which constitutes more than two-thirds of total industry, decreased to 20.0 per cent, from a rate of 21.9 per cent in June 2012 while the utilities sector increased by 0.5 per cent points from the June 2012 rate of 10.1 per cent to 10.6 per cent in July 2012.
Consequently, the month-on-month change in producer prices recorded 0.7 per cent, following a rate of 2.5 per cent in June 2012.
According to the acting Government Statistician, Dr Philomena Nyarko, the decline in the rates are as a result of 3 major declines in the performance of these sectors, manufacturing of food products and beverages, textiles and chemical products.
These three groups she said recorded lower inflation rates of 16.5 per cent, 57.1 per cent and 10.1 per cents respectively as compared to rates they recorded in June 2012.
The monthly changes in the producer price index indicated that mining and quarrying recorded the highest rate of 2.4 per cent, followed by manufacturing with 0.4 per cent and utilities with 0.7 per cent.
Dr Nyarko also explained that, mining and quarrying recorded the highest year- on- year producer inflation rate of 20.3 per cent, followed by manufacturing with 20.0 per cent and utilities with 10.6 per cent.
“The producer price inflation in the mining and quarrying sector increased by approximately 0.8 per cent points over the June 2012 rate of 19.5 per cent to record 20.3 percent,” she said.
Manufacturing which constitutes more than two-thirds of total industry, decreased to 20.0 per cent, from a rate of 21.9 per cent in June 2012 while the utilities sector increased by 0.5 per cent points from the June 2012 rate of 10.1 per cent to 10.6 per cent in July 2012.
ELAC, Barclays relaunch bancassurance product
Enterprise Life Assurance Company Limited (ELAC), in partnership with one of its partners, Barclays Bank of Ghana, has relaunched the Family Funeral Plan (FFP) Policy with upgraded and improved benefits.
The upgraded policy aims at providing prompt cash payout to clients to cover funeral expenses in the event of death.
The General Manager in charge of operations at ELAC, Ms Jacqueline Benyi, explained that the relaunching of FFP was to ensure that their products met the changing needs of their clients.
“As a business, you need to take feedback from customers and provide tailor-made products to meet this increasing need,” she said.
She said the revised plan could cover the life assured, the life assured’s spouse, children and the extended family, depending on the choice of the policy holder.
As part of the relaunch, staff of Barclays Bank, the bancassurance partner, and some selected staff of ELAC will wear branded T-shirts every Thursday to reemphasise the collaboration between ELAC and the bank.
The Managing Director of Barclays Bank of Ghana, Mr Benjamin Dabrah, said the relaunch of the policy was necessitated by the feedback they got from their clients on the need to improve benefits.
“We launched our bancassurance funeral policy three years ago and it sold very well on the market; the claims payment record has been excellent. But from time to time, we bring the voice of the customer into our organisation and we realised they wanted certain things to be added to the product,” he said.
He said although society did not like to talk about death, “unfortunately the reality is that it is inevitable, and whether we talk or think about it or not, it will happen so the earlier we start preparing for it the better.”
Mr Dabrah also noted that the collaboration between the bank and insurance companies was critical as they were both in the business of providing financial solutions to clients. He added, “insurance is a critical part of financial planning.”
The Director of Consumer Banking at Barclays Bank, Mr Nana Benneh, said policy holders could now enjoy cash back of 10 per cent of their total premium every five years.
He explained that under the upgraded policy, “clients get to enjoy double the sum assured to be paid to the beneficiary when a policy holder dies through accidental death.”
In line with this initiative, the company is giving an optional opportunity to its existing clients to upgrade their existing FFP policy and for prospective clients to sign up to enjoy these new benefits.
The upgraded policy aims at providing prompt cash payout to clients to cover funeral expenses in the event of death.
The General Manager in charge of operations at ELAC, Ms Jacqueline Benyi, explained that the relaunching of FFP was to ensure that their products met the changing needs of their clients.
“As a business, you need to take feedback from customers and provide tailor-made products to meet this increasing need,” she said.
She said the revised plan could cover the life assured, the life assured’s spouse, children and the extended family, depending on the choice of the policy holder.
As part of the relaunch, staff of Barclays Bank, the bancassurance partner, and some selected staff of ELAC will wear branded T-shirts every Thursday to reemphasise the collaboration between ELAC and the bank.
The Managing Director of Barclays Bank of Ghana, Mr Benjamin Dabrah, said the relaunch of the policy was necessitated by the feedback they got from their clients on the need to improve benefits.
“We launched our bancassurance funeral policy three years ago and it sold very well on the market; the claims payment record has been excellent. But from time to time, we bring the voice of the customer into our organisation and we realised they wanted certain things to be added to the product,” he said.
He said although society did not like to talk about death, “unfortunately the reality is that it is inevitable, and whether we talk or think about it or not, it will happen so the earlier we start preparing for it the better.”
Mr Dabrah also noted that the collaboration between the bank and insurance companies was critical as they were both in the business of providing financial solutions to clients. He added, “insurance is a critical part of financial planning.”
The Director of Consumer Banking at Barclays Bank, Mr Nana Benneh, said policy holders could now enjoy cash back of 10 per cent of their total premium every five years.
He explained that under the upgraded policy, “clients get to enjoy double the sum assured to be paid to the beneficiary when a policy holder dies through accidental death.”
In line with this initiative, the company is giving an optional opportunity to its existing clients to upgrade their existing FFP policy and for prospective clients to sign up to enjoy these new benefits.
Friday, 3 August 2012
Forge Private- Public Partnership to solve housing deficit
Ghana’s housing deficit requires a serious Public-Private Partnership approach to alleviate the plight of the average Ghanaian to obtain decent and affordable accommodation, the president of GREDA, Dr Alexander Tweneboah has said.
Dr Tweneboa said Ghana’s housing deficit currently stands at over 1.5million housing units in 2010.
This situation he said posed enormous challenges for any government to deal with adding that the government alone was not in a position to address these challenges alone.
These issues can best be addressed within the framework of a Public-Private Partnership (PPP).
According to him, 80 per cent of the country’s population currently falls within the housing deficit.
Speaking in an interview with the Graphic Business, Dr Tweneboa said currently it is estimated that over 70,000 housing units are required annually to bridge the huge housing deficit while some studies have suggested that over 45 to 50 per cent of Ghanaians live in inner city slums, uncompleted homes, temporary structures, containers, kiosks and poorly constructed houses.
He also explained that no developed country had been able to build social level houses with the private sector alone and said the association was thus ready to partner stakeholders who are ready to help reduce the deficit.
GREDA, he said was currently holding discussions with a syndicate of local banks to raise in excess of US$40m on a revolving basis to commence the first phase of the affordable housing project involving the construction of about 1,200 housing units or apartments every year.
This number he said would however be ramped-up when more funds are secured by the association through partnership.
Focusing on the real estate industry, Dr Tweneboa explained that it is faced with several challenges, some of which comprised land issues, high cost of materials, less infrastructural systems, high interest rates and the lack of a good financial system to support real estate developers.
Housing finance he also explained was an important initiative that the banks had to support and advised government to see real estate as an expenditure item which funds should be allocated for.
Reacting to some misconceptions in the media over GREDA’s position over the recent decision of the government to award a South African group the opportunity to construct 500 affordable houses for Ghanaians, he said GREDA’s expression of disappointment was aimed more at the government for its lack of response to the overtures that GREDA had been making for the government’s assistance.
“As we are all aware with the current deficit in housing that the country is facing the construction of 500 units is miniscule as compared to the numbers required,” he said
First National unveils ATM, POS systems
FIRST National, one of the biggest Savings and Loans Company in the country, has outdoored its automated teller machines (ATMs) and mobile point of sale (POS) systems to make banking services more accessible to its customers.
The Chief Executive Officer of the bank, Mr Patrick Anumel, said introducing these systems will enhance service delivery to the bank’s customers as First National strives to use Information Communication Technology (ICT) to change the face of its operations.
He explained at the unveiling ceremony in Accra that with the ATM, customers could easily withdraw their money, check their account balance, print their mini statements and change their pin numbers at their own comfort.
He added, “with POS you can just stay in the comfort of your home, office, shop and First National field cashiers would come to you to facilitate their cash deposits.”
Mr Anumel said at First National their primary focus was their customers and as such the company would continue to roll out interesting and exciting products and services for their customers.
“In First National, we believe that the customer is the most important stakeholder in our business. We believe that the customer is king. The customer makes our business grow. It is our primary focus not only to satisfy our customers but to go beyond that and delight them,” he said.
The company, he also explained, has chalked up several feats in the industry: “When First National started active operations in 2007, the deposit base was GH¢2.4 million and the loan portfolio was GH¢6.8 million. Four years down the line in 2011, the deposits had grown to GH¢99.6 million and the loan portfolio to GH¢58.6 million.”
He added as at June 30, 2012, their deposit had grown to GH¢112.8 million and the loan portfolio increasing to GH¢73.5 million.
First National, he also said, had 48 branches spread nationwide with 221,000 deposit customers and over 15,000 loan customers.
The clientele base, he said, had been increasing because their customers were satisfied and delighted and they referred more prospects to them.
The Chief Manager, Banking Supervision Department at the Bank of Ghana, Mr Wallace Essuman, advised operators in the industry to regularise their operations as the Central Bank was getting tough on people who would breach the regulations.
He, therefore, advised management of First National to intensify their internal and risk control systems as they increase their growth rate to forestall any challenges associated with a growing company.
New book on marketing launched
BUSINESS owners have been urged to place a priority on their customers at all times to ensure the growth of their ventures.
The Marketing Director of Airtel Ghana, Mr Oare Ojeikere, who made the call in Accra said offering customers the best service would sustain the business.
Mr Ojeikere made these remarks at the launch of a book entitled “SERVICE MARKETING EXCELLENCE with a Twist of Corporate Social Responsibility” written by Professor Robert Ebo Hinson in Accra.
Service marketing with focus on the customer, he said was critically important because there would be no business without a customer to serve.
Mr Ojeikere said many business owners only had the aim of making it but ignored the value of the customers and noted that “the purpose of business is to create value and keep a customer.”
Profit he explained was just a reward for treating customers well hence, the need for a paradigm shift from being profit oriented and placing priority on customers.
He enumerated five principles of distinctive service that customers could use to evaluate service providers and telecom brands in the country.
According to him, service providers must listen, understand and respond to theneeds of the customer, define superior service and establish a service strategy which must include a service recovery plan to make amends for disruptions in services.
The service providers must also set standards projecting how they intend to deliver their services and promises and measure performance afterwards.
Service providers must also select, train and empower employees to work for the customers and finally recognise and reward accomplishment in the provision of their services.
Mr Ojeikere also advised businesses saying “service is a choice and no one can make you serve the customer better.”
The Author of the book, Professor Hinson explaining the idea behind the title of the book said there was the need to integrate Corporate Social Responsibility (CSR) in strategies when providing services to customers.
He said many a time; there was no distinction between the primary customers of the service providers and those they spend their resource on which is wrong.
He said there was the need to clearly define audiences who benefitted from CSR in the provision of services.
The book he explained shed more light on approaches that could be used to provide quality services while focusing on CSR and how employees could benefit from CSR to empower them to provide service to their customers.
Professor Hinson added the book would give service providers tools to better endear them to customers adding that “The book talks about service responsibility by excellence, business oriented, market oriented and service oriented Corporate Social Responsibility,” he said.
The Managing Director of Bank of Africa, Ghana, Mr Koby Andah who was also the Chairman of the occasion said giving a twist of CSR in the delivery service was a step in the right direction as customers can no longer be deceived with CSR when provision of service is bad.
He said in the delivery of service, the service provider must consider convenience, develop the right attitude and right price for its customers and give back to society in the form of CSR to send a signal to society that it was a responsible organisation.
Govt restructures NBSSI to empower SMEs
THE government is reorganising the National Board for Small Scale Industries (NBBSI) to enable it provide adequate support to female entrepreneurs and other Micro, Small and Medium Enterprises (MSMEs) in the country.
The Director of SME and Technology at the Ministry of Trade and Industry, Mr Johnson Adasi, disclosed this at the end of a four-day workshop on sound financial management practices for female entrepreneurs in Accra. He said the government was reorganising the board as part of policy initiatives aimed at assisting small scale businesses nation-wide.
The ministry, he said, would also liaise with micro-financial schemes and institutions to extend credit to women engaged in small-scale businesses and petty trading, especially in rural and deprived areas.
Mr Adasi also added that the ministry would “train women in food-processing techniques in the non-traditional sector and supporting economically active and potentially viable women’s group.”
Other initiatives he outlined included collaborating with IFAD, AfDB, JICA and other donors in building the capacity of women entrepreneurs as well as enhancing the activities of GRATIS and the Rural Enterprises Programme to train women in the use of agricultural processing machines.
“In addition, specific support programmes also include measures related to facilitating access to finance, provision of incentives, promotion of partnerships, training, access to appropriate technology, access to market, access to information and advice, infrastructure and institutional strengthening of private sector associations,” he said.
Women, he explained, constituted almost 50 per cent of the world population and had been making substantial contribution to socio-economic development although their contribution largely remained unrecognised and unnoticed in most developing countries.
He said looking at the challenges confronting women entrepreneurs, there is the need to improve the status of women by empowering them economically.
The Director, Women Entrepreneurship Development Department of the (NBSSI), Madam Habiba Sumani, said small-scale enterprises face a lot of challenges including access to finance, illiteracy, lack of mentorship, time and competing demands on time.
She said in order to bridge these gaps, skills development would provide an important solution to empower women to improve upon their financial literacy, make meaningful improvements in their businesses and increase their social status and eventually help to reduce poverty among women.
The training programme, she said, would thus increase participant’s knowledge, skills and attitudes in financial management practices needed to improve upon their enterprises, adding that it would help participants appreciate micro-financing and credit administration procedures better.
“The workshop will equip participants with the requisite knowledge and skills to be able to measure and improve cash flow in their businesses, set up a simple profit and loss account for their businesses, have adequate understanding of the relationship between balance sheets and profit and loss account, how to compare balance sheets to assess business performance and have adequate understanding of what financial institutions expect from them in order to improve their access to credit,” she said.
She added, “I therefore urge participants to take advantage of this platform to network among yourselves and share experiences and ideas since you all come from different areas and sectors and belong to different Business Associations.”
The training programme was sponsored by the Ministry of Trade and Industry under the Industrial Sector Support Programme.
The NBSSI is the apex governmental body in Ghana under the Ministry of Trade and Industry, for the development and promotion of micro and small enterprises in Ghana and offers business development services like training, counseling and advisory services, provide support to business associations, foster networking of associations and facilitates access to finance in addition to the small loan scheme it operates.
MTN launches Mobile Money month
THE Chief Executive Officer of MTN Ghana, Mr Michael Ikpoki, says the company is committed to policy initiatives that will help reduce cash transactions in the country.
That, he said, was in line with MTN’s drive to achieve a cashless society for Ghana and in the process help minimise the cost associated with cash transactions.
The CEO was speaking during the launch of MTN’s Mobile Money month in Accra.
Mr Ikpoki said the company had declared August as such to enable it educate and encourage subscribers to patronise its Mobile Money Service.
The month long celebration is on the theme,“MTN Mobile Money—creating a cashless economy with your mobile phone,” and is part of measures being put in place by the company to bring Mobile Money to the masses in order to enrich their lives.
The company is hoping to recruit about 10,000 new subscribers at the end of the 31 days.
Mr Ikpoki said at the ceremony that following the several strides the service had made three years after its launch, there was the need to get more people to use the service. He added, “this calls for intensive consumer education aimed at drawing attention to the importance of Mobile Money Service.”
“We are, therefore, launching the Mobile Money month to enable more people to know about the importance of the service. We are confident that at the end of the month of August more customers would have hooked on to the service,” he said.
According to him, although the service was launched with money transfer and airtime top up as the key services, in December 2010, Mobile Money introduced the payment of ECG bills and DSTV bills.
He added that in March 2011, the payment of postpaid bills was added to the portfolio of services and in June 2011, Mi Life Insurance started on pilot and was commercially launched in May 2012.
“Again in December 2011, we began two pilot projects aimed at linking Mobile Money wallets to bank accounts and cash withdrawal from the ATM and in May 2012, we introduced the general payments service which enables customers to make payment for various services, including online shopping, airline ticket payment, etc,” he said.
He said the most recent addition to the Mobile Money service is the school fees payment, adding that “since we launched MTN Mobile Money service in July 2009, we have registered about two million people who are enjoying the convenience of transacting business without cash.”
Outlining events to mark the celebration of the month, the Mobile Money Commercial Senior manager of MTN, Mr Eli Hini, said the company would hold roundtable discussions with stakeholders to develop policies, organise floats in selected towns across the regions and engage their staff on various Mobile Money Services.
He added that Mobile Money promotions would be organised to drive transactions, educate the general public on the service and engage MTN dealers on various forums.
The Mobile Money team, he explained, would hold campus and service centre activations to get more students to use the service. The activities for the month would end with a family fun game and a bazaar.
He also assured customers of several freebies during the promotion month and urged them to patronise the service.
Friday, 27 July 2012
Dissatisfied customers port numbers
Figures released by the National Communications Authority (NCA) shows an increase in the Mobile Number Portability (MNP) service. But are customers’ expectations being met? Jessica Acheampong and Rita Adongo find out
The introduction of MNP in the country in July 2011 gave mobile users the opportunity to switch from one network to the other based on their expectations, preference and service quality.
The service heightened competition among mobile service providers as they strove to offer best products and services to retain their clients and lure new subscribers unto their network.
A year on after implementation, the NCA reports that a total of 370,107 mobile subscribers moved their numbers between networks by their owners.
Mobile Number Portability (MNP) is a system which allows mobile customers to move from one mobile service provider to another, while retaining their entire mobile number identity.
The smooth implementing and the robustness of the MNP infrastructure also ensured that porting time has greatly improved over the global average of one day. Porting time for the period, however, attained a record 22 minutes as shown by the most recent data, with typical average porting time range of seven to eight minutes.
A consultant of MNP at the NCA, Mr Bob Palitz, who presented the report at a ceremony to mark the first year of MNP in Ghana, said the 370,107 successful ports represented 75 per cent of total porting requests for the year, while the remaining 25 per cent were aborted due to network failures or customers’ failure to meet porting requirements.
The total number of successful ports according to the report is 1.6 per cent of the total number of mobile phone lines, while 8.3 per cent represent people who ported their numbers more than once, subsequently at least one person has ported five times within the period.
NET EARNINGS BY SERVICE PROVIDERS
Mr Palitz cautioned against interpreting the figures to adversely affect the operator’s subscriber base and market share as the number of ports out of a particular network should be situated within the context of the size of that network and the period under review.
Among the six telecommunication companies currently operating in the country, tiGO gained 68,000 ports into its network followed by Vodafone with 43,000. Glo also gained 7,500 followed by Airtel with 6,800 gains.
Market leader, MTN, however, lost 125,000 subscribers, while Expresso also lost 418 subscribers.
TiGo ported in 147,709 and with 79,479 subscribers porting out; Vodafone had 103,243 porting in, and 59,751 porting out; Glo had 7,984 in and 425 out, while Airtel recorded 44,742 in and 38,244 out.
Expresso had 304 porting in and 722 porting out, and market leader MTN had 66,320 porting in and 191,681 porting out.
SUBSCRIBERS REVIEW
The service had been rated as been successful in Ghana by stakeholders in the industry as it has given customers the opportunity to demand for better services.
A subscriber, Ms Evelyn Obeng Akese, told the GRAPHIC BUSINESS in Accra that she ported from MTN to Airtel as a result of high rates charged on her network which she described as “outrageous” in the face of congestion networks most at times.
Airtel, she explained, charged less for their calls and she barely had to deal with issues of congestion on the network adding MNP had helped her to make a choice to enjoy better services.
Another subscriber, Ms Alice Aryeetey, who ported from tiGo to MTN said she did so because of bad services.
“I ported because of bad services. I couldn’t make calls for about two weeks and when I contacted my service provider nothing was done about it,” she said.
She said she moved to MTN because of their fast internet services adding “at that time there was no 3G for tiGo although they had nice packages.”
Asked if her expectations of porting were met, she was skeptical saying her new network had its own problems which made her regret porting at times, saying “I sometimes regret but it is all good.”
Mr Philip Amoakohene, a two-time porter tells the Graphic Business he ported from MTN to Vodafone and later to Glo.
He said he ported from MTN due to what he described as “bad customer service.” Customers he said were not treated well as their calls were not answered and not given bonus credits.
“MTN did not respect their customers. Their services were not good because they had a lot of customers. Vodafone was willing to give customers more bonuses and double credit.”
Recounting why he ported to Glo, he said he chose the network just to try their services because being a new network, he thought their services would be better.
Asked if he had any regrets, he said, he regretted porting to Glo as his expectations were not met hence he was going to port back to Vodafone.
Tuesday, 24 July 2012
Mobile users take advantage of mobile number portability
THE National Communications Authority (NCA) has reported that 370,107 mobile numbers migrated between networks, one year after the launch of the Mobile Number Portability (MNP) exercise.
The MNP balance sheet indicates that tiGO led the pack with about 68,000 ports into its network followed by Vodafone with 43,000.
Glo also gained 7,500, followed by Airtel with 6,800 gains.
MTN, however, lost 125,000 subscribers, while Expresso also lost 418.
The MNP, which was introduced on July 7, 2011 by the NCA, is a permanent system which allows Ghanaian mobile customers to move from one mobile service provider to another while retaining their entire mobile number.
Speaking at a ceremony to mark the first year of MNP in Ghana, the Director General of NCA, Mr Paarock Van Percy, described the exercise as highly successful due to the effective collaboration of the network operators and the authority.
The exercise, he said, was not a mass movement exercise but one that gave customers the choice to move to any other network of their choice if they so desired.
He said at the inception of MNP, customers were promised a maximum porting time of 24 hours, which has reduced significantly over the year.
“Very quickly, the average time to complete a porting request reduced to five hours, 21 minutes in the first month of MNP operation and subsequently to two hours, 37 minutes by April 2012,” he said.
He also added that an analysis of available data demonstrated that when porting requests were handled by properly configured automated systems at each mobile network, they could be done even faster.
“Accordingly, the NCA and the mobile operators agreed a set of performance goals for each step of the process. By June 2012, average porting time had dropped to one hour, 24 minutes,” he added.
The most recent data, however, he explained, showed typical porting times between two to 22 minutes, with average in the range of seven to eight minutes.
The authority, he said, had received complaints about the way some agents of the mobile network operators were handling the MNP exercise.
“NCA has received complaints about agents in the field, acting on behalf of various mobile networks, misinforming or deceiving customers regarding the porting process. While we work with the mobile networks to bring their agents to order, we wish to caution the public regarding stories they may hear,” he said.
The Minister of Communication, Mr Haruna Iddrisu, said the inception of the MNP had helped networks to improve their network quality due to heightened competition and also given customers the opportunity to demand better quality of service and care.
Government, he also said, would implement policies to help grow MNP in Ghana and the telecommunication industry.
He said with the inception of the SIM registration exercise, issues related to anonymous threats and insults were a thing of the past and criminal activities on mobile phones were also effectively tracked.
The MNP balance sheet indicates that tiGO led the pack with about 68,000 ports into its network followed by Vodafone with 43,000.
Glo also gained 7,500, followed by Airtel with 6,800 gains.
MTN, however, lost 125,000 subscribers, while Expresso also lost 418.
The MNP, which was introduced on July 7, 2011 by the NCA, is a permanent system which allows Ghanaian mobile customers to move from one mobile service provider to another while retaining their entire mobile number.
Speaking at a ceremony to mark the first year of MNP in Ghana, the Director General of NCA, Mr Paarock Van Percy, described the exercise as highly successful due to the effective collaboration of the network operators and the authority.
The exercise, he said, was not a mass movement exercise but one that gave customers the choice to move to any other network of their choice if they so desired.
He said at the inception of MNP, customers were promised a maximum porting time of 24 hours, which has reduced significantly over the year.
“Very quickly, the average time to complete a porting request reduced to five hours, 21 minutes in the first month of MNP operation and subsequently to two hours, 37 minutes by April 2012,” he said.
He also added that an analysis of available data demonstrated that when porting requests were handled by properly configured automated systems at each mobile network, they could be done even faster.
“Accordingly, the NCA and the mobile operators agreed a set of performance goals for each step of the process. By June 2012, average porting time had dropped to one hour, 24 minutes,” he added.
The most recent data, however, he explained, showed typical porting times between two to 22 minutes, with average in the range of seven to eight minutes.
The authority, he said, had received complaints about the way some agents of the mobile network operators were handling the MNP exercise.
“NCA has received complaints about agents in the field, acting on behalf of various mobile networks, misinforming or deceiving customers regarding the porting process. While we work with the mobile networks to bring their agents to order, we wish to caution the public regarding stories they may hear,” he said.
The Minister of Communication, Mr Haruna Iddrisu, said the inception of the MNP had helped networks to improve their network quality due to heightened competition and also given customers the opportunity to demand better quality of service and care.
Government, he also said, would implement policies to help grow MNP in Ghana and the telecommunication industry.
He said with the inception of the SIM registration exercise, issues related to anonymous threats and insults were a thing of the past and criminal activities on mobile phones were also effectively tracked.
Renny Foods now on the menu
What started as a family meal has gradually turned into a commercial business entity, “Renny Foods”. Jessica Acheampong explains how the journey began.
It all started five years ago, when she decided to put cereals like “Tom Brown” and others on the domestic menu which usually got the appétit of next door neighbours whetting due to the sweet aroma of the dish in the neighborhood.
The proprietress of Renny of Foods decided to prepare her mixture on a small scale for customers for a fee but went into large-scale production due to the high patronage from around the countryside.
That is the story of Ms Irene Ofori Ghartey, Managing Director of Renny Foods, a local cereal-processing company in Accra.
According to her, she decided to produce cereals on a commercial basis as a result of the positive comments she received from people who enjoyed her cereals when she produced them at home.
The processed cereals do not include maize but they are tagged as “special” as they contain more than the three ingredients that other processed cereals have.
“My cereals contain five or more ingredients including rice, wheat, soya beans, beans and groundnuts,” she said.
Her flagship products, Renny Gari Mix and Renny Tom (a cereal and legume mix) are all produced with local raw materials which she buys from the market.
She said “I buy the gari, sugar, groundnut and the other ingredients from people that I have established relationships with on the market who are my main suppliers for my products.”
HOW RENNY FOODS IS SURVIVING
Renny Foods, according to Ms Ghartey, started with a capital of GHC300 while operating in her house on a small-scale level for friends and family members.
Her company, she said, received certification from the Ghana Standards Board three years later, which spurred her on to produce on a larger scale.
She explained that the company had to relocate operations from her house to its present location at North- Kaneshie.
As demand for her products increased she had to improve on her packaging from the use of sachets to containers to make them more attractive to meet the increasing needs of her customers.
Over the years her products, she said, had gained wide recognition due to the distribution channel which she said included “Shell shops, pharmacies, retail shop outlets and mother care shops in the country.”
Asked if she had encountered any issue of product counterfeiting, Ms Ghartey told the GRAPHIC BUSINESS she had personally not come across any of her products being counterfeited but said she received calls from people telling her of counterfeited products they had spotted in other parts of Accra.
“I sometimes receive calls from people telling me there are people in Weija using my label for their own products, but I have not seen any of such things, so as it stands now, it is all hearsay,” she said.
NBSSI SUPPORT
Ms Ghartey said she received diverse support from the National Board for Small Scale Industries (NBSSI) in diverse ways which she summed up to be “capacity building” over the years.
The board, she added, trained her together with other small scale business owners at workshops on book keeping, record keeping, food safety, marketing and other programmes to improve their capacity.
Another benefit she also told GRAPHIC BUSINESS, was her application for certification from the Ghana Standards Board. She said with her NBSSI certificate, the cost of application was slashed to about one third of the original price besides the easy facilitation she enjoyed for being registered with the board.
FUTURE PROSPECTS
According to Ms Ghartey, despite the various challenges she encountered in her business, she was optimistic her business would thrive and make several inroads in the near future. She said moving from her house to her current location was a sign of growth.
She however said her company was hoping to acquire bigger space for production and machines that could be used instead of the traditional way it currently produces her products.
These machines, when acquired, she said, could make her work easier and she would increase production.
Some of her challenges, she however said, included distributing her products to the various retailers on credit, and waiting to receive money after the sale of the products which was not the best.
She added tha raw materials were not sold to them on credit but after production she had to supply on credit which is very unfortunate.
Prices of the raw materials, she also explained, are sometimes increased without he knowledge of entrepreneurs which poses a problem with respect to the quantity of them that could be bought at a particular time.
The last challenge she mentioned had to do with the problem of staff in her company some them she said were temporary.
Ms Ghartey had this to say to all women, “Do not depend on government for jobs but rather start something, no matter how small it is and develop it as, the years go by.”
Renny Foods foods can be contacted on rennyfoods@yahoo.com
It all started five years ago, when she decided to put cereals like “Tom Brown” and others on the domestic menu which usually got the appétit of next door neighbours whetting due to the sweet aroma of the dish in the neighborhood.
The proprietress of Renny of Foods decided to prepare her mixture on a small scale for customers for a fee but went into large-scale production due to the high patronage from around the countryside.
That is the story of Ms Irene Ofori Ghartey, Managing Director of Renny Foods, a local cereal-processing company in Accra.
According to her, she decided to produce cereals on a commercial basis as a result of the positive comments she received from people who enjoyed her cereals when she produced them at home.
The processed cereals do not include maize but they are tagged as “special” as they contain more than the three ingredients that other processed cereals have.
“My cereals contain five or more ingredients including rice, wheat, soya beans, beans and groundnuts,” she said.
Her flagship products, Renny Gari Mix and Renny Tom (a cereal and legume mix) are all produced with local raw materials which she buys from the market.
She said “I buy the gari, sugar, groundnut and the other ingredients from people that I have established relationships with on the market who are my main suppliers for my products.”
HOW RENNY FOODS IS SURVIVING
Renny Foods, according to Ms Ghartey, started with a capital of GHC300 while operating in her house on a small-scale level for friends and family members.
Her company, she said, received certification from the Ghana Standards Board three years later, which spurred her on to produce on a larger scale.
She explained that the company had to relocate operations from her house to its present location at North- Kaneshie.
As demand for her products increased she had to improve on her packaging from the use of sachets to containers to make them more attractive to meet the increasing needs of her customers.
Over the years her products, she said, had gained wide recognition due to the distribution channel which she said included “Shell shops, pharmacies, retail shop outlets and mother care shops in the country.”
Asked if she had encountered any issue of product counterfeiting, Ms Ghartey told the GRAPHIC BUSINESS she had personally not come across any of her products being counterfeited but said she received calls from people telling her of counterfeited products they had spotted in other parts of Accra.
“I sometimes receive calls from people telling me there are people in Weija using my label for their own products, but I have not seen any of such things, so as it stands now, it is all hearsay,” she said.
NBSSI SUPPORT
Ms Ghartey said she received diverse support from the National Board for Small Scale Industries (NBSSI) in diverse ways which she summed up to be “capacity building” over the years.
The board, she added, trained her together with other small scale business owners at workshops on book keeping, record keeping, food safety, marketing and other programmes to improve their capacity.
Another benefit she also told GRAPHIC BUSINESS, was her application for certification from the Ghana Standards Board. She said with her NBSSI certificate, the cost of application was slashed to about one third of the original price besides the easy facilitation she enjoyed for being registered with the board.
FUTURE PROSPECTS
According to Ms Ghartey, despite the various challenges she encountered in her business, she was optimistic her business would thrive and make several inroads in the near future. She said moving from her house to her current location was a sign of growth.
She however said her company was hoping to acquire bigger space for production and machines that could be used instead of the traditional way it currently produces her products.
These machines, when acquired, she said, could make her work easier and she would increase production.
Some of her challenges, she however said, included distributing her products to the various retailers on credit, and waiting to receive money after the sale of the products which was not the best.
She added tha raw materials were not sold to them on credit but after production she had to supply on credit which is very unfortunate.
Prices of the raw materials, she also explained, are sometimes increased without he knowledge of entrepreneurs which poses a problem with respect to the quantity of them that could be bought at a particular time.
The last challenge she mentioned had to do with the problem of staff in her company some them she said were temporary.
Ms Ghartey had this to say to all women, “Do not depend on government for jobs but rather start something, no matter how small it is and develop it as, the years go by.”
Renny Foods foods can be contacted on rennyfoods@yahoo.com
Thursday, 19 July 2012
legitimise operations in microfinance sector - Kwetey
The Deputy Minister of Finance and Economic Planning, Mr Fiifi Kwetey has cautioned operators in the microfinance industry to legitimise their operations or risk being sanctioned by their regulator.
The caution which follows the new licensing requirements prescribed by the Bank of Ghana for operators in the financial services is to ensure legitimization of operations and to bring sanctity into the industry.
“Please permit me to use your platform to caution any operators out there who are not up to date with their licensing to do so immediately as failure to do so would attract serious sanctions from the regulator,” he said.
Mr Kwetey was speaking at a ceremony to unveil the new corporate logo for Consumer Finance Company (CFC), a finance house in the Accra.
Mr Kwetey explained the contribution of these financial institutions cannot be overemphasised which has spurred the government on to ensure the active participation by private capital companies in the industry.
He said “this commitment is evidenced by the number of private institutions licensed to operate in the financial services sector. I wish to assure you of all the support that the Government can provide to ensure the smooth running of businesses in the sector.”
Despite this commitment, Government he said would not compromise on the need for players in the industry to strictly comply with the rules and regulations that govern their operations.
He added that the Government acting through the Bank of Ghana as the regulator of the financial services sector will therefore continue to actively engage all existing and prospective participants in the sector to ensure that the mutual interest of the nation and of those institutions is well protected.
Mr Kwetey had this advice for potential operators, “I wish to take this opportunity to advise all individuals and groups to with intentions to operate in the financial sector to legitimise their business activities by ensuring that all the required permits and licenses are properly procured before commencement of their business activities.”
The Deputy Minister also congratulated the Board and Management of CFC for ensuring compliance with the laws as expected per the terms of their license and for contributing immensely to the provision of financial services and employment opportunities in the country.
He thus encouraged them to extend their support to individuals and businesses in the informal sector.
The Chairman of CFC, Mr Theodore Gyau in his address emphasised the need for other finance houses in the country to bridge the gap in the area of personal and Small and medium Enterprises financing.
This he said was necessary as a result of the high expectations placed on banks to meet all credit needs adding these institutions however have their limitations.
He added that access to credit is very important for national development adding Consumer Finance Company provides timely, convenient and collateral- free loans to Ghanaian workers.
CFC’s new logo, The Nserewa Symbol according to the Marketing Manager of the company, Ms Patricia Afriyie Boateng was chosen because of its rich meaning as it stood for wealth, affluence, abundance and sanctity.
She also explained that in line with CFCs aim to make the working class wealthy with the abundance of life’s little essentials in order to have the peace of mind to go about their daily affairs, that logo was chosen.
She said customers are also promised a positive change and an upgrade in the company’s service delivery.
Speaking at the unveiling ceremony in Accra, Ms Boateng said the corporate colours of the new CFC logo were Magenta and Cyan which she said would give their new logo the ability to appeal and attract diverse workers and professionals in the society.
The caution which follows the new licensing requirements prescribed by the Bank of Ghana for operators in the financial services is to ensure legitimization of operations and to bring sanctity into the industry.
“Please permit me to use your platform to caution any operators out there who are not up to date with their licensing to do so immediately as failure to do so would attract serious sanctions from the regulator,” he said.
Mr Kwetey was speaking at a ceremony to unveil the new corporate logo for Consumer Finance Company (CFC), a finance house in the Accra.
Mr Kwetey explained the contribution of these financial institutions cannot be overemphasised which has spurred the government on to ensure the active participation by private capital companies in the industry.
He said “this commitment is evidenced by the number of private institutions licensed to operate in the financial services sector. I wish to assure you of all the support that the Government can provide to ensure the smooth running of businesses in the sector.”
Despite this commitment, Government he said would not compromise on the need for players in the industry to strictly comply with the rules and regulations that govern their operations.
He added that the Government acting through the Bank of Ghana as the regulator of the financial services sector will therefore continue to actively engage all existing and prospective participants in the sector to ensure that the mutual interest of the nation and of those institutions is well protected.
Mr Kwetey had this advice for potential operators, “I wish to take this opportunity to advise all individuals and groups to with intentions to operate in the financial sector to legitimise their business activities by ensuring that all the required permits and licenses are properly procured before commencement of their business activities.”
The Deputy Minister also congratulated the Board and Management of CFC for ensuring compliance with the laws as expected per the terms of their license and for contributing immensely to the provision of financial services and employment opportunities in the country.
He thus encouraged them to extend their support to individuals and businesses in the informal sector.
The Chairman of CFC, Mr Theodore Gyau in his address emphasised the need for other finance houses in the country to bridge the gap in the area of personal and Small and medium Enterprises financing.
This he said was necessary as a result of the high expectations placed on banks to meet all credit needs adding these institutions however have their limitations.
He added that access to credit is very important for national development adding Consumer Finance Company provides timely, convenient and collateral- free loans to Ghanaian workers.
CFC’s new logo, The Nserewa Symbol according to the Marketing Manager of the company, Ms Patricia Afriyie Boateng was chosen because of its rich meaning as it stood for wealth, affluence, abundance and sanctity.
She also explained that in line with CFCs aim to make the working class wealthy with the abundance of life’s little essentials in order to have the peace of mind to go about their daily affairs, that logo was chosen.
She said customers are also promised a positive change and an upgrade in the company’s service delivery.
Speaking at the unveiling ceremony in Accra, Ms Boateng said the corporate colours of the new CFC logo were Magenta and Cyan which she said would give their new logo the ability to appeal and attract diverse workers and professionals in the society.
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