An advertising agency dedicated Innova DDB Ghana
to creating experiences that
transform brands and growing
businesses.
[email protected]
The Business Executive 51
Real Estate
In fact, we will see a growing proportion of specific segments of the markets. We should properties appreciate as much as 4.5 to
the industry controlled by mortgage. The be seeing more of the likes of Trasacco 5% per annum but we expect the rise in
introduction of new legislations for the built Estates which appear to provide luxury home price appreciation to slow by 2043 to
environment (building codes, etc) and their features and Lakeside Estates which provide about 2.5% to 3%. Among all categories,
strict enforcement will increase the cost for the middle to low income earner. however, first time homes will experience
of private residential development and the highest price increases.
discourage same particularly in urban areas Most urbane and refined
thereby creating huge opportunities for banks, A belief that has caught the attention of
real estate developers and practitioners: By 2033 to 2035, we will have the most investors, keeping them on the sidelines,
valuers, architects, quantity surveyors and urbane and refined assemblage of buyers - a is the anxiety of a possible oversupply of
civil engineers. Ghanaian troop of Generation Z (people born property in the near future due to huge
after 1990). Developers will have be able to investments into the sector. Although
The good news for mortgage holders build properties to meet the demands, tastes there will be construction of new housing
and aspiring homeowners by 2033 is that and needs of this group which is expected projects, the quantity to be delivered onto
mortgage rates will begin to decline and to be half of Ghana’s population from 2040 the market will not be enough to ensure
fall drastically lower than the current rates. onwards. They will have diverse needs, equilibrium with the housing deficit until
Governors of the Bank of Ghana see a financial situations, and lifestyle preferences. 2060. This implies that the fright of an
strong case for adjustment in monetary oversupply is baseless and therefore
policy favoring lower mortgage rates which From about 2035 to 2036, there will be a rise speculative, given our population growth
will begin falling rates once it becomes in demand for smaller living apartments as rate.
confident that economic growth will pick up, a solution to the increasing housing density
unemployment will decline and inflation starts in the all major cities in Ghana, particularly From 2030, commercial office developers
to move back enduringly. Accra, Kumasi and Sekondi-Takoradi. This is will need to focus on providing not just
good news for property managers because accomodation but great locations and
In high demand it will jack up operating income on managing environments for success. As workplace
condominiums and similar shared properties. design transforms, organizations will
Solar will be in high demand in Ghana from demand office spaces that enhances
2029. Already, a growing proportion of Analysis of current trends predicts a rise in productivity. Developers who pay attention
Ghanaians are financing the installation of short-term rentals by 2035. This will create to this and tailor their products to flexible,
individual solar power systems. Developers opportunities for single family owners and smart offices, etc. will succeed.
should be incentivized to install solar and large home owner. Options for them will
alternative energy systems as part of their range from renting a room for say three, four, The trend forecasts a mass exodus from
packages. The solar idea will make scores five or six months for extra cash to renting Accra from 2030 as the capital gets
of financial sense. For example, households entire vacation homes at twice the local congested and property prices keep rising,
will save substantial amount of money to pay price. The reason they can attract renters is the locals will move out to closer but quieter
off their mortgages more quickly. By 2030, because improvement in communication will cities such as Koforidua, Cape-Coast and
banks will start offering better financial terms make it easy for tenants to access a global Ho. This doesn’t imply Accra’s population
to mortgagors for energy efficient houses. community of property owners. will shrink and result in falling property
prices. No! The capital will continue to grow
By 2032, the most successful developers Tax reform by the Ghana Revenue Authority due to births and foreign immigration.
will be those who would have built an online (GRA) will most likely reduce the benefit of
reputation of their portfolio and work. In other owning a house in Ghana. Under new tax laws But because of the massive improvements
words, online brands will rule the industry. that may be in place from 2032, homeowners in communications technology and internet
The reason we foresee this is that, property won’t be enjoying the current tax holidays connectivity by that time, more people will
sellers and buyers will be looking online first they currently do: rent tax, property rates, have the option of living and working further
to find contact information in order to audit property gains tax, property sales tax, etc. away from Accra. The big game changers
footprints and qualifications. The access to From 2032, tax holidays for owning property 35 years from now will be driverless cars
validated information will hold developers will be capped. The overall impact of the which will turn cars into mobile offices,
responsible and help the public distinguish revised tax system and the exact impact on allowing commuters to work on their
between good and bad developers. the industry will become more clear by 2033 computers while being driven to work.
thereabout. This will make it even more practical to live
The domination of social media by 2025 as longer away from Accra.
the main tool for broadcasting information will The hottest properties
encourage mass marketing by developers Overall, margins will be good and profitable
and brokers. For a developers or broker to The hottest properties (both residential and for all types of housing projects in 2038,
remain competitive he will have to invest in commercial) will be in southern Ghana. however, building affordable housing
building a strong online presence. Buyers The biggest increases in house sales are at scale in urban areas would be most
and sellers will be relying on channels such expected in Sekondi-Takoradi, Cape-Coast, profitable.
as Whatsapp, Facebook, Linkedin, Snapchat Accra, Tema and lesser known towns along
and Instagram for video viewing properties. the coast such as Sogakope, Ada, Winneba, The author is a Landed Property
It will be one of the best ways of marketing a Salt-pond, Elmina and Elubo. The forecast Investment Advisor. (Land Administration,
home in Ghana in just five years. predicts a sales growth of around 30% for
properties along the coast as against 15% to Property Valuation, Estate Agency &
There will be a shift from the current general s20% in the country. Property Investment Viability). Telephone:
developers to specialist developers. Currently, 0244 843 997. Email: gadosman@yahoo.
most estate developers build everything and House price increases are expected to slow com Webpage: www.gadakwensivie,com
agents sell or buy anything kind of property. by 2040. Property prices in general won’t
But in 15 years, the best developers and rise as fast as they currently do. Currently
brokers in order to remain profitable will have
to differentiate themselves by specializing in
52 The Business Executive
The Business Executive 53
Tourism
Booming
investment in
Africa’s hospitality
industry
The hospitality sector in Africa’s Pietro Calicchio, Nigeria, Mauritius, Kenya and Tanzania.
emerging markets looks set to This year, the report widens its scope by
profit from foreign investment and The potential for foreign investment in the examining Ghana and Ethiopia as emerging
an influx of foreign travelers. The tourism sector has improved substantially in hotel markets.
emerging markets will post faster growth in Africa over the past several years. But not
revenue than their counterparts in developed without some challenges. Some of these Resilient despite recent
countries, making them integral to the challenges include a drop in the prices of economic challenges
expansion strategies of some of the world’s oil and other primary commodities, social
leading hotel developers. unrest, unstable electricity supply and the The hotel sector in Ghana has remained
impact of one of the most severe droughts resilient despite recent global economic
Pietro Calicchio, Hospitality and Gaming across the continent. These are some of the challenges. Following the collapse in the
Industry leader of PricewaterhouseCoopers highlights of PwC’s 7th edition of the ‘Hotels price of oil and other commodities, the
(PwC) Southern Africa, says: “The growth Outlook: 2017-2021’ report which was government is trying to diversify the economy,
potential of Africa is high mainly because launched in Johannesburg, South Africa, on including promoting the hospitality and
of the rapid economic growth in some 16 August. The report features information tourism sector. Ghana’s hospitality industry
economies, a growing middle class and about hotel accommodation in South Africa, grew 1.2% from 2015 to 2016. The World
an increase in visits from foreign visitors. Travel and Tourism Council (WTTC) expects
The emerging markets are a sought after Ghana’s tourism industry to expand by 5.6%
destination for foreign investors – it is in in 2016 and maintain an annual growth rate
these markets where there is continued of 5.1% per annum from 2017 to 2027. A
economic growth and a need for additional number of internationally-branded hotels like
infrastructure. In addition, governments and Movenpick and Kempinski operate in Accra,
policy makers are introducing a range of tax Ghana’s capital. As at May this year, there
incentives and other incentive schemes to were 2, 723 hotels and lodges in the country.
foreign investors.”
54 The Business Executive
Motor Travel & Aviation
Fire Marine
Personal
Because you will never know when. Accident
Condently do more in life with absolute peace of
mind as all your risks are protected by RegencyNem.
Made bigger for larger risks, RegencyNem protects your property
against unseen events so you can go on and enjoy your beautiful life.
Come and talk to us about a policy today !
Head Ofce:
65 Patrice Lumumba Road,
Airport Residential Area.
Ghana Post GPS: GA-116-1263
Tel: 233 (302) 778 106, 768 463
Fax: 233 (302) 782 871
Email: [email protected]
Website: www.regencynem.com
RegencyNemGh
Branches:
Kumasi Weija Tema Spintex Sunyani Takoradi Tamale
057770007 0577700061 0501288366 0501288347 0577736093 0501288367 0501418486
0577736103 0501288329 0501288335 0577700064 0501288368 0372028912
0574064783
The Business Executive 55
Tourism
It is expected that the number of business “The World Travel “ undergoing expansion that will enable it
travelers to the country will increase as and Tourism to service 20 million passengers a year
the government embarks on a number of Council (WTTC) by 2019. Addis Ababa will continue
initiatives to stimulate economic growth. expects Ghana’s to grow as a regional business hub,
The government is constructing a third tourism industry to supporting expansion in the hotel
terminal at Accra’s Kotoka International expand by 5.6% in sector. Hotels in the city currently have
Airport and has allocated funds for the repair 2016 and maintain a 60% occupancy rate. Addis Ababa
of roads to popular tourist destinations. an annual growth is host to numerous international
The hotel industry is expected to grow rate of 5.1% per conferences. This is mainly because
1.1% in 2017, 2.1% in 2018 and 2.3% in annum from 2017 it has the third-largest diplomatic
2019. “Having regard to the investment by to 2027. community in the world, after New
foreign investors in the industry through York and Geneva. The African Union
the establishment of high-rated hotels, visitors in Ethiopia come from a wide range (AU) and the United Nations’ Economic
and an increasing number of tourists and of sources. It is a diverse market catering Commission for Africa (ECA) are
business travellers, it is expected that there for both business travelers and tourists. headquartered in the city. “The growing
will be continuous growth in the industry,” Total tourist arrivals in Ethiopia from 2015 presence of international brands in the
Calicchio comments. to 2016 increased from 817, 860 to 868, country demonstrates confidence in
780. Tourist arrivals in 2017 are forecast to Ethiopia’s tourism growth, particularly
The latest figures of Ghana’s tourism increase by 5.7% on the previous year to opportunities linked to business and
industry are not usually available. But data 918, 010. diplomatic travel,” comments Calicchio.
from the Ghana Tourism Authority has Despite the country’s bid to bolster its
shown that the steady growth of tourism Government plans to expand Ethiopian earnings from the hospitality sector, the
culminated in more than a million arrivals in Airlines’ footprint of regional and international political unrest that broke out in 2016
2014, with US$1.4 billion revenue generated routes. Addis Ababa International Airport is is still seriously impacting the industry.
in 2010. With the optimistic projections
of economic growth, the government will The number of planned hotel rooms for
have to develop the infrastructure in the 2016 in Africa soared to 64,000 in 365
sector for exponential growth to occur. hotels, up almost 30% on the previous year,
The 2017 budget statement has prioritized according to the annual W Hospitality Group
eco-tourism. In the medium term, the Hotel Chain Development Pipeline Survey.
New Patriotic Party (NPP) government’s The increase was largely due to strong
focus is to achieve sustainable growth growth in sub-Saharan Africa which was
and transformation of the sector through up 42.1% in 2015, significantly outstripping
a variety of targeted interventions. The North Africa which achieved a 7.5% pipeline
Ministry of Tourism, Arts and Culture and increase in 2016.
its partners are strategizing to develop and
grow domestic tourism, arts and culture
infrastructure throughout Ghana. If the
government’s plan to undertake investment
feasibility studies in order to promote small
and medium scale enterprises through Public
Private Partnerships (PPPs) in the tourism
industry succeeds, it would create business
opportunities and strengthen private sector
participation in the development of tourism.
A recent drawback to tourists trooping to
Ghana is the life-snapping disaster that
occurred at the Kintampo Falls.
Set to boost investment
In the East Africa, Ethiopia is set to boost
investment in the hospitality sector in order
to generate more foreign earnings. While
the economy in Ethiopia continues to enjoy
substantial growth, the hotel sector is poised
to benefit from an increase in the number
of inbound travelers with the expected
opening of some international hotel brands.
Currently there are five international hotel
brands under construction. International
56 The Business Executive
The Business Executive 57
Aviation
Ghana’s National
Carrier nearly set to
take off
By Ayuure Kapini Atafori
The setting up of Ghana’s national The Ghana Civil Aviation Authority (GCAA) advancing our vision of making Ghana the
air carrier is just around the corner and Ghana Airports Company Limited hub within the Sub-Region,” he said. He
when, according to Aviation (GACL) are tirelessly aiding the Ministry of noted that the stakeholders in the HBC
Minister Joseph Kofi Adda, when Aviation to set up the national airline to fast- would bring expertise, professionalism and
the Ministry of Finance releases the cash for track the process of turning the country into well-rounded experience that would add
the 10% that the state intends to hold in the a flying heartland for West Africa. value to the airline and champion the cause
airline. of socio-economic growth for the country.
At the recent Takoradi Airforce Base Tarmac
The efforts to establish a Ghanaian national inauguration, Hon. Adda was confident that Speaking at the aviation sector’s mid-year
airline has been on the drawing board the refurbished aircraft facility would attract performance review, which was on the
since 2009 but they were intensified when airlines from western and central Africa to theme ‘Role of Aviation in boosting economic
the Akufo-Addo administration set up the visit it for repairs. Tullow Oil and its partners growth in the Era of African Continental
Ministry of Aviation in 2017. Under the helm handed over the $2.3 million rehabilitated Free Trade Area,’ Hon. Adda stated that
of Hon. Adda, these efforts have witnessed tarmac to the Ministry of Aviation. The with the present strain on the government’s
more intensification, and with the hard work tarmac, also known as Apron, has an area revenue, alternative sources of funding such
that he is inputting it would not be a surprise of 22,692 square meters wide-ranging as private-public partnerships (PPPs) would
when the national carriers take off sooner excavations. explore to obtain capital for the development
than later. of the aviation industry.
The birth of a national airways is certainly
Opening the reconstructed Takoradi dear to the heart of Hon. Adda, and thus He explicated further: “PPP in the aviation
Airforce Base Tarmac on 12th September, it is also understandable he misses no sector has the prospects to unlock access
he announced that the arrangement to get opportunity to put in a word about the to private capital, promote the exchange
the national carrier flying has almost been imminent operations of the carrier. In August, of expertise in the sector, to bring about
completed except the wait for the Finance he reiterated his earlier statements that the the needed innovation through improved
Ministry to disburse funds to the Aviation home-based carrier (HBC) is expected to technology, financial and operational
Ministry to contribute as its shares in the come on board in a few months. “The HBC framework for the creation of jobs.
shareholdership with the partners. These are as you may all be aware, once established
the attempts to build the aviation industry will be connecting various African cities and
that will transform Ghana into an aviation
hub in the West African sub-region.
58 The Business Executive
The Business Executive 59
Aviation
Hon. Kofi Adda, Minister early 2020. “Investment firms from other In January, Hon. Adda said the government
for Aviation & MP West African countries may invest in the was hopeful the national airline would be
new venture,” he said. “Ethiopian and the operational by the second quarter of 2019,
With the involvement of the private sector government of Ghana will together look for it was working on the needed documents
in aviation, the sector’s contribution to the potential investors,” he added. for the airliner. He said all procedures would
economy will ultimately improve.” The Aviation be completed by March 2019. He noted
Minister also observed that the government In April, in a speech read by Mr. Samuel that the government was strategizing to
wants investors to be interested in assisting it Dekyi, the Director of Human Resources support access to aircraft, route rights and
with infrastructures such as the development at the Aviation Ministry on behalf of Hon. airport slots at destination airports.
of the various airports in Ghana’s regional Adda, at the Annual General Meeting (AGM) He added that these measures would
capital cities and towns. of the Chartered Institute of Logistics and ensure that the new airline was founded
Transport, he called on local investors to on a strong foundation so that it can
In May, Hon. Adda, who is also the Member take interest and invest in the national carrier be sustainable. “We have gone far with
of Parliament for Navrongo Central in the which was expected to be launched soon. processes to ensure that the national carrier
Kassena-Nankana Municipality of the Upper The AGM was on the theme, ‘Logistics becomes operational. We have entered into
East Region, expressed that the government and Transport: A Catalyst for National an understanding with Ethiopia Airlines and
would limit its participation in the national Development.’ have been engaging other investors who
aircraft to a relatively minor financial stake. have shown interest in the project,” he said.
“What we are looking at is not more than a ten Ghana held a Memorandum of
per cent share, and that is the extent to which Understanding (Mo) with Ethiopian Airlines On the proposed shareholders, Hon.
government will be involved. We will have one when in March Ethiopian Airline Flight 302 Adda said the government preferred local
or two representatives on the board, but the crashed immediately after take-off, killing all investors. “On the ownership structure,
government will not interfere in operations of 157 persons on board. Hon. Adda assured we are working on it to give preference
the new company in terms of policy, strategy, that the accident did not undo the good to Ghanaian investors but we are not
and operations,” he averred. track-record of Africa’s premier airline. preventing their foreign counterparts. The
He emphasized that the country would Social Security and National Insurance
That was when Hon. Adda and Ethiopian continue with its partnership with Ethiopian Trust (SSNIT), Teachers Fund and GLICO,
Airlines Group CEO Tewolde Gebremariam Airlines to establish a national carrier. an insurance service provider, are some
signed a strategic partnership agreement at indigenous companies that have expressed
the headquarters of Ethiopian Airlines in Addis “Ethiopian Airlines has been operational interest in investing in the proposed home-
Ababa. The government had agreed with for 18 years and has a remarkable record based carrier,” he declared.
Ethiopian Airlines, Africa’s largest airline, to by doing a good job. We as a country will
establish a new pan-African carrier for Ghana. continue our partnership arrangements He expounded that Ethiopia Airlines, as the
The government and the private sector are with them. Negotiations will go on between majority shareholder, would be expected to
expected to hold a majority stake of 51% in now and April and I am hoping that we will contribute managerial services to ensure the
the proposed airline while Ethiopian would understand all the shareholder agreements effective and efficient running of the carrier.
hold the balance. should pave a way for us to become He said the airline when in motion, would
operational,” he said. “We just heard from initially ply Africa routes before soaring to
Mr. Gebremariam said the proposed national the investigators who have announced that global lucrative destinations.
airline would operate domestic, regional, they have found the black box. This will tell
and international flights. “It is still at an initial us exactly what happened. The relatively Historical antecedents of the proposed
stage and we don’t have any timeline to start minor incident that we are not aware of carrier are not worth writing about. Ghana
operation,” he noted. A source close to the could be technical, chemical or aeronautical Airways was founded on 4th July 1958
project, however, revealed that the airline in a way no one knows. We only pray that by the government with start-up capital
would launch operations by end of 2019 or this doesn’t happen again,” he continued. of ₤400,000, and a stake of 60%, leaving
British Overseas Airways Corporation
To make assurance double sure, officials (BOAC), a state-owned airline which
of Ethiopian Airlines said the accident was created in 1939 with 40%. Ghana
involving one of its aircraft would not mar Airways demised in the 1980s due to
the planned partnership with the Ghanaian mismanagement and graft. Out of its ashes
government. Madam Genet Michael, the came Ghana International Airlines in the
Country Manager in Ghana of Ethiopian early 2000s. But the latter also went the
Airlines, stressed that negotiations between ways of the former.
the East African carrier and the government
were still ongoing. “All our operations are With the ownership arrangement currently
going on normally. The team is investigating being pursued by the government involving
the cause of the incident. There is no the multi-award-winning Ethiopian Airlines,
cancellation of the contract. The agreement which was originally named Ethiopian
and the MOU signed will be handled Air Lines Inc. when it was set up on 21st
appropriately. From the Ghana side, they December 1945, Ghana’s national airline to
are communicating. It is ongoing. They will be will be rubbed with the quality Abyssinian
release the final information soon.” magic to defer the mournful fate of its
predecessors.
60 The Business Executive
The Business Executive 61
Sanitation
Tacking the waste
problem in Accra to be
Africa’s cleanest city
Ghana is the world’s fastest growing dealing with it will increase at least four- The trash has become an eyesore
economy, with a government set on fold, according to the World Bank. and a political flashpoint. In January
attracting investment and tourism. But 2018, Australia’s High Commissioner to
residents of Accra, the West African With limited space, resources and Ghana tweeted photos of refuse near
country’s capital, from taxi drivers to infrastructure to deal with increasing his Commission in an affluent area of
academics, are overwhelmed by the state populations and waste, development Accra, adding to the conversations and
of filth in the city. organizations are calling for more complaints on the country’s traditional and
education, waste reduction, and innovative social media.
Accra’s gutters are persistently clogged, recycling programs across the continent.
despite pressure on the government and In response, countries have adopted After becoming President in January
promises in return. A common complaint measures like banning plastic bags and 2017, Nana Addo D. Akufo-Addo created
through the city is that when people clean non-biodegradable plastic. Often these Ghana’s first Ministry of Sanitation and
out the gutters, waste will sit in a pile measures have come at a steep price. Water Resources as part of a pledge to
nearby and eventually find its way back. make Accra the cleanest city in Africa. In
Piles of rubbish sit on street corners, A majority of Accra’s residents live in low- August 2017, Sanitation Minister Joseph
picked on by birds. After a storm, plastic income, densely populated communities, Kofi Adda told the local media that the
bottles washed out with the rain return to with inadequate infrastructure and government was going to investigate
line the beaches. services. Residents often dump their changes to the way the city processed
Accra officials says residents need to pay waste into open spaces, drains and rivers, its waste, while investigating renewable
for waste management—many would which contributes to flooding in Ghana’s energy and increased recycling.
not or cannot. The resulting limbo has rainy season or on open spaces. Others
become a major test for one of Africa’s resort to burning it on the side of the road. In the meantime, the city’s focus has
most promising and up-and-coming cities. been on getting residents to pay to have
their waste collected, with the Accra
While waste management is a nationwide Metropolitan Assembly (AMA) pulling back
issue in Ghana, it is most obvious in Accra,
a fast-growing city of about four million
that generates about 3,000 metric tons
of waste a day. In 2012, the World Bank
estimated that poor sanitation was costing
the country’s economy around GhC420
million ($290 million) each year, equivalent
to 1.6% of its GDP. The study found most
of these costs come from the annual
premature death of 19,000 Ghanaians,
largely due to poor sanitation and hygiene.
Accra’s problem is a global one. Africa’s
population is expected to increase to 2.5
billion people in 2050, from one billion
people in 2010. Like in other rapidly
developing regions, its cities are being
stretched by infrastructure and resource
demands. The higher a country’s income
level and rate of urbanization, the greater
the amount of solid waste produced.
Waste generation rates are set to more
than double over the next 20 years in
lower income countries, and the cost of
62 The Business Executive
SAFETY AND
ENVIRONMENT
CONSULTANCY
...Re-defining Safety &
Environment Standards
CONTACT US
+233 27 230 3246
+233 30 330 2512
[email protected]
www.mbaconsultgh.com
MBA Consult Limited 63
The Business Executive
Sanitation
on offering waste management services, But even the small fee they charge is Prof. Owusu believes to really a cleanup
citing an unmanageable cost burden. Before unaffordable to many in Accra, a city with a of Accra, there should be free and reliable
2009, the city paid contractors to collect minimum daily wage of GhC9.6 (about $2 a services to those in the poor areas of the city,
waste from 300 large refuse containers day), and a 2014 average annual income per while middle and high income households
throughout the city. Now, residents and household of approximately GhC17,023.71 should be required to pay for waste collection
businesses are expected to pay for door- ($5,100). services. Better infrastructure and waste
to-door collection services provided by 12 sorting and recycling by the companies and
private waste management companies. Critics of AMA’s approach say that the user collectors would also do more to clean up the
pay system would not work in a city where city, he says. “Waste collection is so critical
Companies charge different monthly fees people do not have enough money to pay for to make Accra clean, attract businesses,
depending on the neighborhood. Households their simplest living costs, let alone waste. tourists, and reduce malaria and other
in poorer areas pay around GhC20 ($4.50) diseases,” he adds.
a month while wealthier areas pay GhC100 “We have to
($22.40). The city has stopped short of provide people with Allowing fresh ideas into the sector would be
making this service compulsory, and still infrastructure so they key to meeting Akufo-Addo’s target, argues
pays for refuse collection from vulnerable properly dispose environmental educator and campaigner
communities, markets, and some public of waste,” says Cordie Aziz. While the AMA and the central
spaces, while supporting community cleaning Professor George government were taking President Akufo-
initiatives. Owusu, director for Addo’s pledge seriously, Aziz says more
the Centre for Urban innovative ideas are needed to really affect
AMA’s director of waste management, Management Studies change. There were other small, innovative
Victor Kotey, says charging for individual at the University startups in Ghana she wants to see working
collection is the only way the city will see an of Ghana, argues. with the government.
improvement, but convincing everyone to do “Now people collect
their part and pay for services has been a their waste and don’t Her non-profit organization, Environment
huge challenge. “If the beneficiaries are not know where to put 360, offers recycling education in schools in
paying for services and they want to avoid it.” Ghana which is funded through a recycling
payment then they are not being responsible program, membership fees and partnerships
and it will affect achieving the president’s with other programs. Educating children and
goal,” Kotey says. “Obviously, whatever making recycling compulsory in the hospitality
services you enjoy you need to pay for it— sector should be key aspects in any cleanup
even if there is a government subsidy but plan, she observes.
you still have to pay something. That is how
we will improve services, otherwise it will be “The inability to sort out the waste issue in
difficult to achieve the goal.” Ghana has huge impact, not only for our
environment and our communities but also
Across Accra, informal waste collectors load for our economic situation,” Aziz says. “We
carts or tricycles with refuse from poor areas are at a critical point and it’s something that
that cannot pay monthly fees for private waste has to absolutely be done, not only by one
collection, are not served by them, or are not player—but every player in the system,” she
able to easily access AMA remaining trash notes.
collection points. These ‘borla taxis’ generally
serve low-income households in Accra’s
formal and informal settlements, charging
around GhC1 ($0.20) for daily collection.
At an overflowing refuse transfer site in
Accra, a group of informal rubbish collectors
emphatically responded “no” when asked if
President Akufo-Addo’s pledge to make their
city the cleanest in Africa would come to
fruition. “Our President is not doing anything,
it’s all just political talk!” shouted a furious
Otuer Serebour, who has been working as an
informal waste collector for close to 20 years.
Serebour and his colleague, Steven Dogbey,
work from 4.30am until 10am, collecting
garbage from homes and paying GhC5 ($1.10)
each time they dump the trash at a waste
collection station, which then transports it to
a landfill. They are considered self-employed
informal collectors, earning about GhC40
($8.90) a day, and are not associated with the
contracted waste collection companies.
64 The Business Executive
Sanitation
Quality Unknown:
The Invisible Water Crisis
The report, Quality Unknown, shows that • When Biological Oxygen Demand much as 19% and decrease adult earnings
urgent attention must be given to the hidden (BOD) – a measure of how much organic by as much as 2%. This suggests a stark
dangers that lie beneath the water’s surface. pollution is in water and a proxy measure trade-off between using nitrogen to boost
of overall water quality – passes a certain agricultural output and reducing its use to
High-income status does not confer threshold, GDP growth in downstream protect children’s health.
immunity - challenges with pollutants grow regions is lowered by a third.
alongside GDP. And as countries develop, • Saline waters and soils are
the cocktail of chemicals and vectors they • In middle-income countries – spreading throughout much of the world
contend with change – from fecal bacteria where BOD is a growing problem because because of increasing rates of water
to nitrogen to pharmaceuticals and plastics. of increased industrial activity - GDP growth extraction, droughts and rainfall shocks,
downstream of highly polluted areas drops sea-level rise, and poorly managed irrigation
Water quality is complex and its impacts by half. systems. This report shows that agricultural
on health and other sectors are still largely yields fall almost exactly in line with increased
uncertain. Worse, regulations guiding safety The reasons for this, include: salt concentrations in water.
standards are often fragmented across
countries and agencies, thus adding to this • Nitrogen in water shortens people • This report also reveals that
uncertainty. This report shows that some and shortens their lives. Much of the nitrogen enough food is lost due to saline waters
pollutants in water have impacts that were applied as fertilizer eventually enters rivers, each year to feed 170 million people every
previously unknown and occur at levels lakes and oceans where it transforms into day. Such a sizable loss of food production
below established safe norms. nitrates. Nitrates in water are responsible to saline waters means food security will
for fatally inflicting Blue Baby Syndrome, continue to be jeopardized unless action is
Intensification of agriculture, land use which starves infants’ bodies of oxygen. taken.
changes, more variable rainfall patterns due to This report finds that those who survive the
climate change and growing industrialization consequences of early exposure to nitrates The challenge is daunting, but it is not
due to countries’ development all continue can be condemned to long-term damages insurmountable. The way forward requires a
to grow. This means increasing number of throughout their lives – they grow up mix of approaches that focus on information,
algal blooms in water which are deadly for shorter and earn less than they would have prevention and investment:
humans and ecosystems alike. otherwise. Stunting is a red flag indicator for
the risk of physical and cognitive deficits. • Information is both a resource
Using new data, this report demonstrates the and a rallying cry. The first step to tackling
importance of water quality across a range • Nitrate exposure in infancy: wipes the water quality challenge is recognizing the
of sectors and how its impacts cut across out much of the gain in height seen over the scale of it. The world needs reliable, accurate
nearly all of the Sustaianable Development past half-century in some regions and harms and comprehensive information so that new
Goals (SDGs). Poor water quality stalls children even in areas where nitrate levels are insights can be discovered, decision-making
economic progress, stymies human potential deemed safe. can be evidence-based and citizens can
and reduces food production: call for action. Encouraging and enabling
• While an additional kilogram of this information and its sharing is critical to
• Water pollution endangers nitrogen fertilizer per hectare increases getting water pollution under control.
economic growth. The release of pollution agricultural yields by as much as 5%, the
upstream acts as a headwind that lowers accompanying run-off and releases into • Prevention is better than cure.
economic growth downstream. water can increase childhood stunting by as While sunlight may be the best disinfectant,
legislation, implementation and enforcement
are also crucial to scrub the world’s
waterways of pollution. Information and
transparency must be coupled with well-
designed, effectively implemented and
scrupulously enforced regulations for firms
and individuals to adhere to water quality
guidelines.
• Invest in what works. Pollution
that cannot be prevented must be treated.
Wastewater treatment has a vital role to
play – it is crucial for a country’s health,
food security and economy by helping
remove pollution and debris. Investments in
wastewater treatment are a down payment
on a cleaner future.
The Business Executive 65
ICT
Cloud
computing
and invention
that delights
Cloud computing is the term used manner. images and coordinates. The recorded
to describe technology that will Another major advantage to cloud data is then transmitted to a computer via
replace how we currently use computing is the reliability of service. a wireless transmitter.
our computers and software Servers can crash, temporarily denying you
applications. online access to services and data. But You can browse and edit your written
cloud computing has multiple servers so notes, diagrams, tables, or drawings.
The concept of cloud computing is that you always have access. Another useful feature of this computer
any device (computer invention) connected invention is that hand-written digital files
to the internet can utilize a network of Some concerns about cloud computing can be easily converted into text fonts for
computing resources. are security and the effect it will have on use in word documents or emails.
the computer industry.
This would include infrastructure, Digital pen technology was first developed
applications and storage for far less The security concerns are similar to those by the Swedish inventor and entrepreneur
than what it would cost to use your own regarding email and online banking. Christer Fåhraues.
hardware, software and resources. These have proven to have reliable security
Additionally, it allows users to have access protocols therefore similar advanced Fåhraues is a physician and has an
to applications that they would not have technology has been adopted for cloud honorary doctorate degree in technology
otherwise. Access is as simple as using an computing. from Lund University in Sweden, and a
interface application or just a web browser M.Sc. degree in Bioengineering from the
from any location. It’s anticipated that computer repair and University of California San Diego.
maintenance, as well as IT employment /
The cloud can allow access to millions of contracts will steadily decline as cloud Fåhraues served as the Chief Executive
computers in an intelligent, scalable and computing rises in popularity. Officer and Chairman of Anoto Group AB,
redundant system with expert support. a company he originally founded in 1996
Similar to outsourcing, the difference and There has been a proliferation of free public as C Technologies to license his digital pen
advantages of cloud computing are speed, clouds appearing on the internet. technology.
efficiency, capability and cost, particularly
with the increasing popularity of smart Computer Invention This computer invention has been licensed
phones and tablets. to companies around the world for various
This digital pen is a computer invention commercial products. Applications include
It allows users to work from anywhere, to that transmits writing into digital media. data/signature capture, completing
perform any task with any application, and Although touch screen devices represent a forms, mapping, surveying, document
to pay for only what you use. movement away from paper, approximately management, paper replay, whiteboards,
eighty-percent of businesses still use paper toys and education
Cloud computing is comparable to using based forms. There are great expectations for digital pen
email or online banking where you log into technology over the next few years.
your account to access and manage your Many professions hand-write their notes,
information. The software, applications and tables, diagrams and drawings instead of Sources: Anoto; Logipen
storage do not exist on your computer. using tablets or other devices.
But unlike your email or online banking
services, clouds can perform complicated The computer pen is comparable to a
engineering tasks, schematics, modeling regular ink pen (even uses refillable ink) that
or mathematical computations, and it can writes on regular paper, except it has an
do this in a cost effective and efficient optical reader that records motion,
66 The Business Executive
The Business Executive 67
Mining
Africa dominates in
minerals but wallows
in poverty (Part 1)
By Oppong Baah will streamline transport and trade and so develop national and regional
markets. Notable road projects include the Trans-Maghreb Highway
Mineral resources play a dominant role in 81 countries, which and Economic Community of West African States (ECOWAS)’s Lagos-
collectively account for a quarter of world Gross Domestic Abidjan Highway, while two of the most strategic rail lines are the
Product (GDP) and half of the world’s population. Africa Trans-Kalahari Railway and Mombasa-Kigali Rail Project.
alone is home to about 30% of the world’s mineral reserves,
10% of the world’s oil, and 8% of the world’s natural gas. Another positive development is the construction of world-class dams
and power projects, such as the Grand Inga Dam in the DRC and
Africa is the world’s most mineral-rich continent and consequently has Kenya’s Turkana Wind Power Project. At present however the supply
the potential to become a mining heaven. There are large deposits of of electricity in many countries from South Africa to DRC to Ghana
coal, diamonds, gold, uranium, platinum, iron, rock salt, potash, and is irregular, in short supply, and expensive, hampering economies in
more. Mining companies are also attracted to Africa by the relatively general and the development of mining activities in specific.
low cost of labor and relaxed regulatory frameworks.
The extractive sector in Africa has undergone what mining industry
With many African countries such as Democratic Republic of Congo experts like Bonnie Campbell dub “three generations” of liberalization
(DRC), Zambia, Tanzania, Uganda, Mozambique, Sierra Leone, Ghana since the 1980s. The industry is on the threshold of entering the
and Angola topping the lists of the world’s fastest emerging economies, fourth generation, this one characterized by a preoccupation with
this in large measure because of their known mineral wealth, others transparency and accountability on the part of governments, mining
like South Africa, Kenya, Rwanda and Botswana are showing notable companies and other stakeholders.
signs of business development and stability, the future of mining in the
region looks to be assured, provided issues of security, corruption and The primacy of environmental concerns in today’s society, especially
supply chains can be well managed and ultimately resolved. around newly controversial mining practices such as fracking,
necessitates that legislators, investors and environmentalists find
In Ghana, the total number of people employed in mining was 17,103 common ground so as to lay a stable and sustainable framework for
in 2014, of which only 289 were expatriates. In Tanzania, employment future developments.
in mining increased from about 2,000 in 2005 to about 7,000 during
2010/2013; while in Mali, the total number of workers directly employed The World Bank and the International Finance Corporation, among
in mining averaged 3,635 during 2008–13. others, have been offering African nations help in developing mining
laws that will prove investor friendly to ensure operating transparency,
With strong employment rates - both directly and indirectly - and which is necessary for protecting the rights and interests of local
significant royalties and taxes for government, mining plays a significant communities and minorities.
role in the economy of African countries. For effective development
outcomes, local communities must actively participate in extractive
industries operations, leveraging the industry’s infrastructure, job
creation, and small business opportunities to provide sustainable
development. The World Bank also leverages extractive industries
projects to achieve shared value and enhance livelihoods.
One of the keys to safeguarding as well as expanding Africa’s mining
economy into the future is the development of modern, extensive and
reliable infrastructure, as this will ensure efficient and competitively
priced production rates and supply chains.
World Bank report in the second quarter of 2017 showed that about
3.5 billion people live in countries rich in oil, gas, or minerals. But all
too often, these resources have become a source of conflict rather
than opportunity. Many of these countries also suffer from poverty,
corruption, and conflict stemming from weak governance.
According to KPMG Africa, progress is being made in this direction.
Ambitious and forward-looking projects are underway across the
continent, from the building of rail lines to link landlocked countries and
interior mining sites with key port cities and alleviate pressure on road
systems to the development of numerous transnational highways that
68 The Business Executive
[email protected] / [email protected]
Customer Support: 0244311160 / 0264311160 / 0244311161
The Business Executive 69
Diplomacy
Russia-Africa
relations to soar with
Putin’s strategy
By Joséphine Dedet
Russian President Vladimir Putin sandwiched by his generals
From south of the Sahara all the way the BRICS (Brazil, Russia, India, China Among the leaders announced are Angola’s
north to the Maghreb, Vladimir Putin and South Africa) – a bloc of five emerging President João Lourenço, South Africa’s
wants Russia to play a leading role countries meant to counterbalance the Cyril Ramaphosa, Côte d’Ivoire’s Alassane
in Africa. From 22th- 24th October, the West – summit that Putin incepted the idea Ouattara, Mali’s Ibrahim Boubacar Keïta,
Russian city of Sochi, on the Black Sea to organize a Russia-Africa meeting. Democratic Republic of the Congo’s (DRC)
Coast, will host the first ever Russia-Africa Félix Tshisekedi, Madagascar’s Andry
Summit. Sochi will host this major diplomatic event, Rajoelina and Egypt’s Abdel Fattah al-
which will be preceded by a business Sisi, who, in his capacity as chairperson
Russian President Putin visited Algeria, forum. The Governorate of Krasnodar and of the African Union (AU), will be master
Libya (2008), Egypt (2015 and 2017) and the Roscongress Foundation, which are of ceremonies alongside Putin. The former
Morocco, while South Africa is the only responsible for the logistics of the Russia- KGB colonel and the Cairo Field Marshal
country in sub-Saharan Africa that the Africa summit, are expecting no less than appreciate each other; Putin has never
Russian President has visited. This shows 10,000 people, including thousands of criticized the way Al-Sisi came to power and
how little interest he has in the south of the businesspeople. Thirty-five countries have punished his opponents.
continent, at least on a personal level. Yet already confirmed their participation, and
it was in Johannesburg in July 2018 during many African leaders will be in attendance.
70 The Business Executive
The Business Executive 71
Diplomacy
According to Mikhail Bogdanov, Putin’s A deal sealed in October 2017 in Sochi These leaks come from the Dossier Center,
special envoy for the Middle East and Africa, between the Russians and Touadéra is the headed by Mikhail Khodorkovsky, the oligarch
the enthusiasm is such that this summit most visible part of an iceberg that Westerners that Putin threw in prison who is now in exile
will take place “every two or three years.” are worried. The agreement includes in London.
Bogdanov and Foreign Minister Sergei Lavrov diamonds, gold and uranium in exchange for
have spared no effort, increasing their travel military support (and ensuring the security of Fantasies and propaganda
on the continent since the beginning of the the CAR President).
year to prepare the diplomatic and commercial The Western press accuses the Russians
grounds. Bogdanov travelled to Egypt, Kenya, Active in the Ukrainian and Syrian theaters of having favored Rajoelina’s victory in the
Tanzania, Central African Republic (CAR), and of war, the Wagner Group, a Russian military Malagasy presidential election and the African
Sudan – where relations are to be rebuilt after company said to be under the control of National Congress’ victory in the South
Omar al-Bashir was overthrown. He was the mysterious Evgueni Prigozhin, have, African legislature by buying local journalists
also at the inaugurations of both Rajoelina according to Moscow Times, spread to or influencing voters through social networks.
and Mauritania’s Mohamed Ould Ghazouani. Sudan, Libya, DRC, Madagascar, Angola,
Lavrov toured the Maghreb, and was received Mozambique, Zimbabwe, Guinea and Guinea- It is clear that the 54 African countries, which
by Morocco’s King Mohammed VI. Bissau, where they offer their security services represent nearly a third of the votes in the
in exchange for oil and mining concessions. United Nations General Assembly, constitute
Putin entrusted his diplomatic adviser Yuri Officially unrelated to the Kremlin, they a very useful voting pool for Russia. In 2014,
Uchakov, who is not a specialist on Africa but nevertheless have the “right”, according to 58 countries abstained from voting on the
a Putin loyalist, with its preparations. Another Putin, “to defend their commercial interests in resolution condemning the annexation of the
key player is Andrei Kemarski, the “Mr. sub- the four corners of the globe.” Crimea. Among them Egypt, Algeria, South
Saharan Africa” at the Foreign affairs Ministry. Africa, Mali, Rwanda, Senegal and Gabon.
In January, he participated in the Khartoum In fact, after decades of absence, the
conference on the conflict in CAR. Among the Russians have put troops back on Africa. The economic sanctions imposed by the
Russian team are Andrey Slepnev, the head They are considering building a naval logistics West following the annexation of the Crimea
of the Russian Export Center, and members platform in one of Eritrea’s ports. Over the and the latent conflict with the Ukraine has
of the Institute for African Studies of the past four years, some 20 military cooperation pushed Moscow to take an interest in Africa.
prestigious Russian Academy of Sciences. agreements have been signed, and that trend At the same time, many African governments
The Director of the institute, Irina Abramova, is accelerating: Guinea and CAR in 2017; are looking to diversify their partners and have
is participating in preparatory summit Egypt, Burkina Faso and the DRC in 2018; been interested in hearing about what the
meetings and has long campaigned to ensure Sudan, Mali and Congo in 2019. Russian Bear has to offer.
that her country does not fall too far behind
China. Africanists Alexei Vasiliev, Yevgeny A memorandum has even been signed Moscow’s argument is that since Russia did
Korendyasov and Andrei Maslov are among with the 16-member Southern African not colonize Africa, it could not disappoint
the coordinators of the report titled ‘Russia- Development Community. Russian military it like Western powers did. Moscow also
Africa: Shared Vision 2030,’ which will be advisers are in Guinea-Bissau. Do the visits to refrains from moralizing interference. But Putin
presented in Sochi and serve as a basis for Moscow by the Ivorian Defense and Foreign did not speak out against the killing of Libya’s
future discussions. Ministers, Hamed Bakayoko in August 2018 Muammar Gaddafi, which traumatized some
and Marcel Amon-Tanoh in July 2019, mean African leaders. That he received Mugabe
In June and July, a series of events were held that their country could also conclude a and Al-Bashir before their falls is somewhat
in which Africans played a major role: the St. similar agreement? reassuring for those who are not virtuous
Petersburg International Economic Forum democrats.
whose 2018 guest of honour was CAR’s Africa’s leading arms suppliers
President Faustin-Archange Touadéra; the Is Putin’s strategy the posthumous victory
annual meeting of the African Export-Import According to the Stockholm International of Yevgeny Primakov? The Foreign Affairs
Bank (Afreximbank), in which Russia became Peace Research Institute (SIPRI), Russia is Minister and Prime Minister in the late 1990s
a shareholder two years ago; and a Russia- Africa’s leading suppliers of arms (35%), ahead had been working after the fall of the USSR
Africa inter-parliamentary meeting. of China (17%), the United States (9.6%) and to rebuild relations with Africa with the aim of
Priority for Moscow France (6.9%). While Algeria remains Russia’s creating an anti-Western bloc and a multipolar
biggest market, Morocco, Egypt and Nigeria world in which Russia could rise from the
Since 2015, trips to Russia by African are becoming significant customers. ashes.
heads of state have become more frequent:
Zimbabwe’s former President Robert Mugabe The war in Chechnya has given Russia At Sochi, business will be discussed; and
(2015); Morocco’s Mohammed VI (2016); experience in the fight against terrorism, the Russians hope to sign many contracts.
Sudan’s ousted Al-Bashir; Guinean President which it is promoting to countries exposed Land and rare metals are in their sight. Yet in
Alpha Condé (2017); and CAR’s Touadéra to similar threats like Nigeria and those in the Africa, Russia remains an economic dwarf. Its
(2018). The rest are Senegalese President Maghreb and Sahel. Satellite imagery, security trade with the continent is $17 billion a year,
Macky Sall; Egypt’s Al-Sisi (2018); Zimbabwe’s cooperation and intelligence exchange are compared to over $200 billion for China.
current President Emmerson Mnangagwa; all instruments on which Moscow relies to
Angola’s Lourenço; and Congo’s President strengthen its influence in Africa. There are some good economic tools that
Denis Sassou Nguesso (2019). could be used to improve ties: erasing debt
In June, The Guardian disclosed “top secret” in exchange for the signing of bilateral military
CAR’s Touadéra is so close to Putin that Paris Russian documents mentioning the countries agreements or the right to exploit natural
is alarmed. Russia has sent military experts to that Moscow (via Prigozhin’s “activities”) resources; relying on major investments
the central African nation and the dispatching managed to infiltrate: Sudan, Madagascar, made by the state; and using the giants like
of “security adviser” Valery Zakharov to CAR’s CAR (level 5, which refers to the highest level Gazprom, Rosneft and Lukoil (hydrocarbons),
presidency led Jean-Yves Le Drian, France’s of infiltration), South Africa, Zimbabwe, Libya Alrosa (diamonds), Rusal (aluminium),
Foreign Affairs Minister, to criticize Russia’s (4), South Sudan (3), Chad, DRC and Zambia Rosatom (nuclear), Uralkali and Uralchem
“recent, significant, and active anti-French (2). Also mentioned as targets are: Mali, (fertiliser), Rosoboronexport (arms) to conquer
presence.” Uganda, Equatorial Guinea and Egypt (1). new markets.
Credit: Jeune Afrique
72 The Business Executive
The Business Executive 73
74 The Business Executive
GLOBAL ECONOMY
IMF in a fix as
FBaigilgseisnt-AErvgeernBtianialout
By Michael Stott and Benedict Mander
The decision to seek what became the lending to Argentina. She said in July that default in history, bank runs, widespread
biggest bailout in the International “There was nobody else at the time to invest civil unrest and the president fleeing by
Monetary Fund’s (IMF) history took in the recovery process through which the helicopter from the roof of the presidential
only a few minutes. A loss of faith in government had decided to engage, and palace. Nearly a generation later, the
Argentina’s reform program had been visibly given the size of the challenge, we had to bitterness remains.
demonstrated by a two-week run on the go big.”
peso last spring. A poll last year by the Wilson Center
The last 70 years of Argentina’s history have found that 56% of Argentines dislike the
The giant bailout has become a millstone been punctuated with regular economic IMF, the worst ranking of any international
around President Mauricio Macri’s neck. crises, and Macri’s inauguration in December organization surveyed. The center’s Gedan
Following days of market chaos in the wake 2015 was no different. Inflation was running compares the organization to Superman’s
of the 11th August vote, Macri’s government close to 25%, foreign exchange reserves archenemy: “In Argentina, the IMF is like
bowed to the inevitable and asked creditors were dangerously low, and generous Lex Luthor,” he says. “Historically, whenever
for more time to pay back Argentina’s $101 subsidies for utilities and transport were the IMF swoops into Argentina, it leaves
billion of foreign debt, including the IMF draining the budget. brutal budget cuts and economic chaos
money, as Buenos Aires struggled to avoid in its wake.” So Macri opted for a gradual
the country’s ninth sovereign default — and The new president seemed well-equipped approach to fixing the economic mess left to
the third this century. for the challenge. The multimillionaire scion him by Fernández, hoping to avoid another
of an Italian immigrant who made his fortune cycle of IMF-imposed austerity and political
Currency controls were imposed on through lucrative government contracts, he crisis.
businesses after the government lost an projected an image of cool competence,
estimated $3 billion in reserves in just two business savvy and sober realism, which Macri, who was also handicapped by his lack
days. With the record-breaking bailout came as a relief to investors after the chaotic of a majority in congress, avoided big cuts
veering offtrack, questions are being asked populism of Fernández. Something Macri to public spending and hoped that steady
about why the IMF, which has overseen was keen to avoid was being forced to seek growth and restoring access to international
21 bailouts to Argentina, including one help from the IMF, a perennial bugbear for borrowing would dig the economy out
that ended in a historic default, lent so Argentine leaders. of its hole. For a couple of years, the plan
much money to support a program that is seemed to work. But the big deficits needed
crumbling after little more than a year. “It’s Buenos Aires’ troubled history with the Fund a constant stream of foreign money to fund
another black eye for the IMF in Argentina,” stretches back six decades. Most notorious them. High-interest rates pushed up the
says Benjamin Gedan, who leads the was the 2001 economic collapse, which value of the peso, meaning more dollars
Argentina project at the Wilson Center in ended with what was then the biggest debt needed to be borrowed to fund the deficit.
Washington. When a loss of market confidence triggered
last year’s run on the peso, Macri had to turn
Having already disbursed $44 billion of the to the IMF.
bailout to Buenos Aires, the IMF now faces
a difficult choice: whether to stick with the
program and hand over another $5.4 billion
later in September to Macri’s government or
cut its losses and wait to deal with the next
president. The IMF said in a statement that
it was assessing the impact of the proposed
debt measures but would “continue to stand
with Argentina during these challenging
times.”
Its decision on the bailout’s future will
be taken without the person who was
instrumental in winning approval for the
rescue: Christine Lagarde, who has
stepped down from the IMF’s top job to
lead the European Central Bank. Lagarde
is unapologetic about her leading role in
The Business Executive 75
Industry
FEWACCI champions
West African integration
The Federation of West Africa Iyalode Alaba Lawson, President of FEWACCI ECOWAS Economic and Business
Chambers of Commerce and Forum; and meetings such as the
Industry (FEWACCI) was set up in Executives Sealink Meeting in Lome, Togo, and
1976 by the presidents of the 16 the ECOWAS Development Partners
chambers of commerce in West Africa with The current executives of FEWACCI are Iyalode meeting.
the aim of giving the business community Alaba Lawson, President (Nigeria); Mr. Faman
in the subregion a voice and a tool to foster Toure, 1st Vice President (Cote d’Ivoire); Mr. FEWACCI has been championing sub-
development and reduce poverty. Sekou Oumar Doudou Doubia, 2nd Vice regional economic and commercial
President (Burkina-Faso); and Mr. Serigne integration since its inception. Its
Currently, the 15 members of FEWACCI Mboup, 3rd Vice President (Senegal). The others contemporary activities prove that it has
are Chambre de Commerce et d’Industrie are Mr. Ousseini Moukaila, Treasurer (Niger); Mr. not relented in carrying out its mandate
du Bénin; Chambre de Commerce et J Wendell Addy, Deputy Treasurer (Liberia); and in order to achieve its mission and
d’Industrie du Burkina Faso; Câmara Mr. Aminou Akadiri, Executive Director. vision. The Federation has cooperated,
de Comércio Industria e Serviços de and continues to collaborate, with
Sotavento - Cabo Verde; Camara de Operations and activities the Economic Community of West
Comercio, Industria et Agriculture da Guine African States (ECOWAS) to achieve
Bissau; and Chambre de Commerce et FEWACCI is active in capacity building for its their respective objectives which
d’Industrie de Côte d’Ivoire. The others members through the organization of seminars, complement each other. FEWACCI is
are Chambre de Commerce et d’Industrie workshops and offers various platforms currently promoting the West Africa
de la Guinée; Chambre de Commerce for members to exchange ideas and share Sealink Company, a regional maritime
et d’Industrie du Mali; Chambre de experiences. company, to provide reliable and
Commerce, d’Agriculture, d’Industrie et affordable maritime transport services to
d’Artisanat du Niger; Union Nationale des Apart from its internal day-to-day operations, business operators in order to increase
Chambres de Commerce d’Industrie et FEWACCI organizes trade fairs such as the intra-ECOWAS trade.
d’Agriculture du Sénégal; and Chambre de Abuja Investment Expo and Abuja International
Commerce et d’Industrie du Togo. Trade Fair in 2018; forums like the Turkey- Taking cognizance of the important
role that access to finance plays in the
The rest of the members are the Gambia growth of businesses in the subregion,
Chamber of Commerce and Industry; the founding fathers of FEWACCI
Ghana Chamber of Commerce and decided to establish a regional bank
Industry; Liberia Chamber of Commerce that would understand the needs of the
and Industry; Nigerian Association of business-people and dedicate itself to
Chambers of Commerce, Industry, meeting those needs. They promoted
Mines and Agriculture; and Sierra Leone and established the first West African
Chamber of Commerce, Industry and bank, ECOBANK Transnational, which
Agriculture has grown to be one of the leading
banks in Africa today. ECOBANK has
Structure and Functions expanded fast and its operations have
gone beyond the confines of the West
The FEWACCI is composed of the General African subregion.
Assembly, the supreme organ of the
Federation; the Executive Bureau, it is After its revival by the ECOWAS
responsible for the management of the Commission, the FEWACCI has set
Federation; the Technical Commissions, the main goal of resuming the major
technical bodies are occasionally set up to integration projects initiated by the
review issues related to the deliberations founding fathers of ECOWAS to realize
of the Federation; and the Permanent the aims and objectives.
Secretariat, which is responsible for
implementing the decisions of the
Federation, is located at its headquarters
in Abuja, Nigeria.
76 The Business Executive
The Business Executive 77
Africa
Foreign powers
stoking fire in Sudan
By Richard Downie
Mr. Omar al-Bashi, former President of Sudan to democracy. They value what they consider to
be stability and security in Sudan and instinctively
A cast of foreign actors is seeking to shape Sudan’s incomplete political transition view the military as their natural ally in achieving
after the fall of longtime President Omar al-Bashir, each nudging it in the direction this objective.
they favor.
Saudi Arabia and the UAE want to keep Sudan
Their competing agendas are complicating negotiations between the ruling onside with their chief foreign policy goals in the
Transitional Military Council and civilians in the pro-democracy movement Gulf, namely to isolate both neighboring Qatar
represented by the Forces for Freedom and Change. The two sides reached a and their main rival, Iran, which they accuse
major agreement on 5th July, 2019 to jointly manage a three-year transition to of supporting terrorism, and to prosecute the
civilian rule, and there was a recent breakthrough on 4th August, 2019, as they war against Iranian-backed Houthi rebels in
finalized that July deal and thrashed out its details. Yet the transition remains fragile Yemen. Both the Saudis and the Emiratis have
and vulnerable to spoilers. established, or are in the process of negotiating,
port and military access in the Horn of Africa. The
The involvement of so many outside powers in Sudan’s affairs underlines the Emirati base at the port of Assab in Eritrea has
country’s strategic importance, not only to its African neighbors but to the broader been used to train troops, supply the war effort
Red Sea region and the Persian Gulf. The danger for Sudan is that it could get in Yemen and even launch military operations
sucked into geopolitical rivalries that do not serve its national interests, dashing the there. Egypt’s top priority is for Sudan to keep a
hopes of its citizens for a peaceful, democratic future. lid on its Islamists, who have historical links with
the Muslim Brotherhood that briefly held power
It is a challenge to untangle the interests and strategies of the various actors in Cairo after the fall of Hosni Mubarak, until
currently engaged in Sudan because of the opaque way they operate and the President Mohammed Morsi was ousted by a
fact that their Sudanese suitors are each pursuing their own, often conflicting, military coup in 2013. The general who led that
goals. Aligned with the military council—or elements within it—are a collection of coup-now-President Abdel Fattah el-Sisi —also
authoritarian Gulf States and their allies, including Saudi Arabia, the United Arab wants a stable, pliant southern neighbor.
Emirates (UAE) and Egypt. Above all, these governments’ agendas are antithetical
Ranged against this alliance are Qatar, Turkey
and Iran, although Tehran to a more limited
extent in Africa. Qatar has responded to its Gulf
adversaries, which imposed a blockade against it
in 2017, by developing strategic infrastructure in
East Africa. In 2018, Doha signed a deal to build a
container port in Sudan. Turkey reached a similar
agreement months before, and has developed
strong diplomatic, commercial and humanitarian
ties in the region.
Sudan has sought to play a neutral role in the
Gulf crisis that has pitted the Saudis, the Emiratis
and their regional partners against Qatar, turning
to governments on both sides of the divide for
financial assistance to address its economic
collapse. Ultimately, Bashir’s failure to steer a
middle course between the Gulf rivals is thought
to have played a role in the decision by the
governments of Egypt, Saudi Arabia and the UAE
to acquiesce to his removal in April 2019.
As they seek to shape Sudan’s transition, these
countries have all focused their attention on Lt.
Gen. Mohammed Hamdan Daqlou, known as
78 The Business Executive
Timeless in Floral and Event Design
The Business Executive 79
Africa
Hemeti, who despite being only the vice chair of the Transitional diplomatic muscle behind the pro-democracy movement’s demand
Military Council has emerged as the main powerbroker in the country. for a civilian-led transition. Ethiopian Prime Minister Abiy Ahmed has
Hemeti heads Sudan’s most powerful security arm, the paramilitary also played an active part in the mediation effort. While he is viewed
Rapid Support Forces (RSF), which long operated as Bashir’s brutal as an honest broker, Abiy has his hands full dealing with multiple
enforcers. They have kept up that role since his ouster, massacring domestic crises and cannot be expected to sustain the high-level
pro-democracy demonstrators in the center of Khartoum on 3rd effort required to see Sudan’s transition through to democratic rule.
June, 2019.
The United States and the United Kingdom have amplified their
Hemeti overcame humble origins as an illiterate camel-herder from support for the Forces for Freedom and Change since the June 3rd
the western periphery of Darfur to amass a feared militia that helped massacre and have coordinated more with the Saudis and Emiratis
keep Bashir in power, before ultimately turning against him when to push their respective partners toward a sustainable deal.
anti-government protests peaked at the beginning of the year. He
has used his firepower, clan ties and wealth derived from control As various diplomats continue their work, parallel developments
of Sudan’s most lucrative gold mine to win influence in the wider highlight the unhelpful role foreign powers continue to play in Sudan’s
region. RSF fighters have made a critical, ongoing contribution to transition. Qatar has been accused by some quarters of backing an
the Saudi coalition in Yemen. In July, the first group of an expected alleged Islamist coup in Khartoum on July 24 that appears to have
4,000-strong contingent of RSF militiamen arrived in Libya to assist provided the pretext for Hemeti to launch a purge of senior military
the renegade Gen. Khalifa Haftar, whose offensive against the figures and those linked with Bashir’s National Congress Party.
internationally recognized government in Tripoli is backed by the It is unclear whether the coup was real or concocted, but Qatar’s
Saudis and Emiratis. activities elsewhere in the region lend credence to accusations of
foreign interference.
Hemeti’s diplomatic outreach took him to Saudi Arabia in May, where
he met the powerful Crown Prince Mohammed Bin Salman just days Throughout its history, Sudan has been a victim of outside meddling,
before the RSF was unleashed on peaceful protesters in the streets and has itself frequently interfered in the affairs of its neighbors. What
of Khartoum. On the eve of another round of talks between the is different this time is that the stakes in Sudan are higher, the range
military council and civilian leaders, Hemeti visited Cairo, where Sisi of external actors is broader, and their aims more clearly in conflict
assured him of Egypt’s strategic support for “stability and security” with each other. Foreign powers are playing with fire in Sudan and
in Sudan. The Saudis and Emiratis had previously stepped in with should recognize that, if they overplay their hand at such a critical
critical financial support early in the transition, pledging to deposit moment in the transition process, their attempts to promote a stable
$500 million in Sudan’s Central Bank. future could instead help tip the country into civil war.
In contrast to Hemeti, representatives from the Forces for Freedom The writer is a senior associate with the Africa Program at the Center
and Change lack partners who are willing to commit large financial for Strategic and International Studies.
sums to their success. Instead, its nexus of support comes from
African institutions and Western powers. The African Union has put
80 The Business Executive
The Business Executive 81
Trade
Franchising law missing in
West Africa: Wake up call
for ECOWAS (Part 1)
By Yaw Kyei Ohemeng
Do you know it is possible for any person to (KFC) is able to sell 11 pieces of chicken to of that particular business, decline in the
start any business of his choice without a prior every man, woman and child in the United product life cycle, obsolesce, lack of
experience? Do you also know it is possible States whilst that restaurant. KFC can also recapitalization and finance challenges.
for the numerous SMEs across West Africa boost of 19,850 outlets and recorded revenue Most SMEs lack research expertise to
sub region to open numerous outlets around of US$11 billion in 2008. predict the future of the industry they
the world? Do you know it is also possible operate in hence demise with the slightest
for West Africa to enjoy economic of scale to In Australia, franchise research shows changes. Issues contributing to business
push productivity up? All these can be made Poolwerx has 100 retail stores and 300 failure can easily be solved by franchising.
possible through franchising. mobile service vans. Battery World has 84 Consequently, African Development Bank
stores, Coffee Club 300 stores. insist that 12% of franchised businesses
Franchising is defined as a method of failed as compared to 80% of independent
distributing products or service by licensing In India, franchise records indicate that SMEs. In South Africa, University of Port
business processes, products, services and Siyaram’s, Lakme Salon, VlCC and APTECH Elizabeth argues 80% of independent
intellectual property to investors who will as successful franchisors with franchisees of SME’s fail every year whilst in Ghana,
operate within established business model. 120,135,12 and 1,100 respectively. official predict that 85% of SMEs fail within
the first five years of business.
Two persons are involved: The franchisor Unfortunately, in West Africa, there are no
who provides its trademark or trade name successful franchises due to reasons of Business failure has psychological effect
and a business system. The franchisee who low publicity, lack of understanding about on business owners, economy, employees
pays an ongoing royalty and usually an initial the concept, lack of legal framework and and dependents of businesses. With
fee for the right to do the business under the misconception about franchising. franchising all these repercussions will be
franchisor’s name and system. averted. Table 1 below shows statistics
Impact of franchising on an of business failure among independent
Three forms of franchising exist: Product economy businesses and franchisees.
distribution franchising which involves a
cooperation for the distribution of goods Business Failure is one of the key issues
mostly in retail business. Trade name worrying leaders in the sub region. A business
franchising where the franchisee uses the may fail as a results of lack of understanding
trademark/business name of the franchisor in
order to sell its own products and services. TABLE 1: BUSINESS FAILURE OF FRANCHISED AND NON- FRAN-
CHISED BUSINESSES IN SELECTED COUNTRIES
Lastly, business format franchising, which is a
combination of the two types of franchising, COUNTRY FRANCHISED INDEPENDENT
using the franchisor’s trademark/ business USA BUSINESS SELF OWNED
name in order to distribute the franchisor’s UK BUSINESS
goods and services. The franchisee receives 92%
site selection, development support, operating 80%
manuals, training, brand standards, quality 50%
control, marketing strategy and business 50%
advisory support from the franchisor.
50%
Franchising has made great strides all over
the world. For instance, in the US, through
franchising, McDonald’s is able to operate
more than 21,000 restaurants in more than
103 countries whilst Kentucky Fried Chicken
NEW ZEALAND 93%
82 The Business Executive
Trade
Thirdly, most Africa where successive government
refuse to continue with policies and
businesses have strong programmes of previous government.
Governments in West Africa base
business systems that their programmes on what is in their
manifestoes hence the mere fact that a
has been tested for particular government starts franchise
policy does not guarantee it will be
years, hence it could continue by successive government.
This system if not amended will destroy
be used by franchisees franchise system in West Africa if it is
started. However, that problem can be
to expand the business resolved if ECOWAS use franchising
blueprint and encourage member state
and grow the franchise to adopt it as an alternative way of doing
business.
Franchising contributes 12% to GDP Lastly, most well
in South Africa and 3.4% to GDP in established indigenous Merits of franchising
Malaysia. With the development of businesses are doing
franchising locally for the population well, demand for their Franchising can lead to the expansion
of 350 million in West Africa, more products and services of business across the sub region and
businesses will be created and may lead are growing, they have beyond, not at the expense of the
to possible expansion across the globe a strong brand and entrepreneur but at the expense of
which can increase the GDP in the sub could survive the next franchisees. With franchising, business
region and that of respective countries. generation, such are expands because people from with the
the characteristics country of the entrepreneur and that of
Because franchisors have track of franchisor, thus SME should take other countries will operate the same
record and tested managerial skills, advantage to be potential franchisor. business with the same prototype.
employment can be secured if they People will not even know the difference
offer franchisees. Different franchisees Challenges of franchising between franchisee business and
employ people who do not necessarily franchisor business. Franchisee pay
need experience but can be trained on The challenges confronting the royalties to franchisors, so franchisors
the job. Series of franchisees create development of potential franchise see their businesses expand at no cost
job for the teeming youth in West Africa system in West Africa are numerous but to them but they earn income from
which can reduce the unemployment the most important ones are as follows: the expansion of their businesses. The
rate. over 13,000 franchisees of McDonald
Firstly, the seemingly unwillingness pay royalties to McDonald although,
Opportunities for franchising of entrepreneurs in West Africa to McDonald did not spend money on their
share their business secrets. Most establishment, he is enjoying the fruit of
There are opportunities for franchising entrepreneurs in West Africa do not their labour.
in West Africa. This is because like sharing business secrets with
the country has countless unique others for fear of abuse and take over. Franchisors have tested standard
businesses that could be tapped by But the sharing of some aspect of operating procedures hence; it can be
prospective franchisees in the SME such secrets is one of the potential replicated in the various franchisees.
sector. The unique business idea cuts requirements for franchising. Hence, For instance, with potential franchisor
across aviation, hospitality, healthcare, in an era where people are unwilling to like Papaye passed the standards set
insurance and finance. This will lead to share such secrets certainly there will be by Ghana Standard Authority, Food
a giant leap in the sector. virtually no franchise. Reasons for their and Drugs Authority and the Ghana
unwillingness to share business secrets Tourist Board. The franchisor will make
Secondly, most businesses in West range from weak regulatory framework sure such standards are maintained by
Africa have strong adaptability stance on franchising, fragile and slow legal the various franchisees in the various
such that it could be adaptable across system and lack of understanding of places. That will make the work of the
different geographical regions of the franchising. various regulators easier.
sub region. Some business like chicken
republic of Nigeria, Papaye of Ghana are Secondly, the delay, abuse, perceived Most of the franchisees rely on
popular and such delicacies could stand corruption and weak legal systems franchisors for supply of goods and
the test of time in any part of the sub in West Africa can be factor inhibiting ingredients depending on the industry
region. franchising. Normally, it takes years for which they operate in. a franchisor
one to seek redress in court. It is the supply 1000s of franchisees is able to
belief of most people that the wheel of enjoy economies of scale because he
justice is slow in West Africa. Franchising will buy in bulk and sell to franchisees.
normally comes with complex legal Buying in bulk attracts discount which
issues that ought to be addressed lead to reduction in price of the items.
speedily for businesses to get value for
money. Delay in justice will certainly have
a toll on franchises.
Lastly, the political system we have
in West Africa is also a factor that can
hinder effective franchise in West Africa.
We have a bizarre situation in West
The Business Executive 83
PROFILE OF UNIVERSITY OF
PROFESSIONAL STUDIES, ACCRA
The University of Professional Studies, Accra (UPSA) was formerly the Institute of Professional Studies (IPS). Founded in 1967 as a private business professional
tutorial institution, IPS was taken over by Government in 1978 by the SMC Decree 1979 (SMCD 200). Subsequently, on April 22, 1999, the Institute of
Professional Studies (IPS) Act, Act 566 was passed to establish the Institute as a tertiary institution with the responsibility of providing tertiary education in the
academic disciplines of Accountancy and Management.
The Institution attained a full-fledged university status on September 01, 2008 when it was granted a Presidential Charter to award certificates, diplomas and
degrees for its academic programmes. It was renamed the University of Professional Studies, Accra (UPSA) on October 09, 2012 after the promulgation of the
University of Professional Studies Act 2012, (Act 850). With the unique mandate to provide academic and professional education, UPSA is now poised towards
attaining scholarship and professionalism through offering professional, postgraduate, undergraduate and diploma programmes.
With a current total student population of 12,100, UPSA is Ghana's leading public University, which offers degrees, diplomas, as well as tuition for internationally
recognized business professional programmes. In 2016, the University received accreditation from Accreditation Council for Business Schools and Programmes
(ACBSP).
Currently, the University runs various postgraduate, undergraduate and diploma programmes in the following Faculties and Schools:
Faculty of Management Studies: Faculty of Accounting and Finance:
Department of Marketing Department of Business Administration Department of Accounting Department of Banking and Finance
Faculty of Information Technology & Communication Studies: Faculty of Law:
Department of Public Relations Management Department of Public Law Department of Private Law
Department of Information Technology Studies
Undergraduate Programmes
Postgraduate Programmes Ÿ Bachelor of Arts in Public Relations Management
Ÿ Doctor of Philosophy in Marketing Ÿ Bachelor of Science in Accounting
Ÿ Master of Philosophy in Finance Ÿ Bachelor of Science in Accounting and Finance
Ÿ Master of Philosophy in Leadership Ÿ Bachelor of Science in Business Economics
Ÿ Master of Business Administration in Accounting and Finance Ÿ Bachelor of Science in Actuarial Science
Ÿ Master of Business Administration in Auditing Ÿ Bachelor of Science in Banking and Finance
Ÿ Master of Business Administration in Corporate Governance Ÿ Bachelor of Business Administration
Ÿ Master of Business Administration in Internal Auditing Ÿ Bachelor of Science in Information Technology Management
Ÿ Master of Business Administration in Marketing Ÿ Bachelor of Science in Marketing
Ÿ Master of Business Administration in Petroleum Accounting & Finance Ÿ Bachelor of Science in Real Estate Management and Finance
Ÿ Master of Business Administration in Total Quality Management Ÿ Four-Year Bachelor of Laws (LLB)
Ÿ Master of Business Administration in Impact Entrepreneurship and Ÿ Three-Year Post First Degree Bachelor of Laws (LLB)
Innovation Diploma Programmes Diploma in Marketing
Ÿ Master of Science in Leadership Ÿ Diploma in Accounting Diploma in IT Management
Ÿ Master of Arts in Brands and Communications Management Ÿ Diploma in Management
Ÿ Master of Arts in Peace, Security and Intelligence Management
Ÿ Diploma in Public Relations Management
Prof. Abednego Feehi Okoe Amartey
Vice-Chancellor, University of Professional Studies, Accra
Professor Abednego Feehi Okoe Amartey is the Vice Highly Commended Paper by the Emerald Literature
Chancellor and a Professor of Marketing at the University of Network Awards for Excellence in 2016. He co-authored
Professional Studies, Accra (UPSA). Professor Amartey has the books Sales Management: A Prime for Frontier Marketers
occupied several positions at UPSA including Lecturer in the and Customer Service Essentials: Lessons for Africa and Beyond
Department of Marketing, Head of the CIM Unit, Head of the published by Information Age Publishers in 2018 and 2019
Marketing Department, Dean of the Faculty of Management respectively. He holds a BA, MBA, and MPhil from the
Studies, and Pro-Vice Chancellor. His research interests include University of Ghana and received his Doctor of Business
Service Marketing, Branding, Strategic Management, and Administration from the Swiss Management Center
Consumer Behavior. He has published over 70 articles in University. He is a fellow of the Chartered Institute of
several prestigious journals including a paper in the Journal of Marketing Ghana and won the award as the best CEO in the
Research in Interactive Marketing, which was honored as the Educational Sector in Ghana Industry Awards in 2018.
84 The Business Executive
Health
Improving Blood
Circulation and Reducing
Chronic Inflammation
By Dr. Ben Kim
By consistently making healthy food circulation and blood cleansing - this Amla - sourced from gooseberries, this
and lifestyle choices, including the normalization in inflammation can be enzyme is thought to:
choice to get adequate physical and objectively marked by testing C-Reactive •Provide healthy tone to the nervous system
emotional rest, your body’s self-healing Protein levels before and after taking this Bromelain - this protein-digesting enzyme is
mechanisms stand a good chance of formula for a fair trial period - in most cases, derived from pineapple and is thought to:
restoring your health. I recommend three to six months as a trial •Promote healthy skin and a healthy
period. immune system
If you’re not sure how to go about making Papain - this is also a protein-digesting
the best possible food choices to restore The effectiveness of this Proteolytic Enzyme enzyme that is often used to:
your health, please have a look at our full blend lies mainly in its ability to breakdown a •Reduce bloating and promote good
body cleanse program - following this substance called fibrin, which is a substance digestion
program for two to three weeks can be an that is produced by your body whenever you •Facilitate recovery from bruises and other
immensely beneficial first step to recovering have to make and lay down scar tissue. tissue injuries
from many chronic health challenges. Rutin - this flavonoid component of the
Fibrin is the main component of scar tissue vitamin C complex is thought to:
If you are already doing the best that you that is created whenever your body has to •Promote healthy blood vessels
can with your food and lifestyle choices heal an injured area. •Maintain connective tissue strength
and you strongly feel that your body can throughout the body (bones, teeth,
use extra help in restoring healthy blood In some cases, like a badly sprained ankle, capillaries)
circulation and normalizing inflammation, I some amount of scar tissue is useful for Magnesium - this coenzyme/mineral is
encourage you to consider this professional promoting stability, but in most cases, known to:
grade blend of Proteolytic Enzymes. particularly those involving your muscles and •Help build and maintain healthy teeth and
organs like your heart and lungs, you don’t gums
This special blend of enzymes is designed want excessive fibrin being laid down. • Promote normal blood pressure
to promote: • Promote good overall
• Blood cleansing You do want inflammation to occur cardiovascular health.
• Optimal blood circulation whenever there is injury to a blood vessel All of these components of Proteolytic
• Normal blood pressure or any other tissue, as inflammation is Enzyme formula are derived from vegetable
• Normal inflammatory response essential to proper repair of injured tissues, or microbial sources, and great care is taken
• Normal immune response but you want the inflammation to occur in to ensure optimal purity and potency of
In using this professional grade blend of a controlled and efficient manner - this is each batch.
enzymes with clients over many years, I what Proteolytic Enzyme blend is designed
have found it to be particularly useful in to facilitate.
supporting the following conditions:
•Arthritis (Degenerative joint disease, also The enzymes that are included in Proteolytic
known as osteoarthritis) Enzyme formula:
•Chronic inflammation within muscles, Nattokinase - this fibrin-digesting enzyme is
tendons, and ligaments often used to:
•Leg cramps that are caused by poor blood •Eliminate extraneous amounts of fibrin from
circulation the body
•Chronically cold fingers and toes, including •Promote normal blood viscosity (blood
Raynaud’s Syndrome texture and flow)
•Chronic indigestion, marked by excessive •Promote good overall cardiovascular health
gas production and abdominal discomfort Serrapeptase (Serratiopeptidase) - this
•Most stages of fibrosis, particularly protein-digesting enzyme is often used to:
pulmonary fibrosis •Activate plasmin, a naturally occurring
•High blood pressure. enzyme in the body that helps to break
Most health conditions that are down fibrin
accompanied by inflammation can be •Promote muscle recovery after intense
objectively marked by two blood tests: ESR physical activity or injury
- short for Erythrocyte Sedimentation Rate, •Boost energy
and CRP - a more sensitive and accurate Ubiquinone (Pharmaceutical-Grade Co-Q10)
marker for inflammation, and short for - this coenzyme is often used to:
C-Reactive Protein. •Facilitate energy (ATP) production
Proteolytic Enzyme formula safely and •Decrease proliferation of free radicals
effectively normalizes inflammation in •Promote maintenance of normal
the body as it promotes optimal blood cardiovascular function
The Business Executive 85
Development
GHANA’S MAIN
MESSAGES IN VOLUNTARY
NATIONAL REVIEW
On 17th July, Prof. George Gyan-Baffour, the Minister for Planning and Chairperson of
Ghana’s High-Level Ministerial Committee on SDGs, presented the country’s Voluntary
National Review (VNR) at the United Nations’2019 High Level Political Forum (HLPF) on
sustainable development in New York, USA.
National ownership Ghana is implementing a communication Progress of Implementation of the Goals
strategy to increase public awareness. Media In general, 67 of the 101 indicators Ghana is
The Sustainable Development Goals (SDGs) sensitizations and targeted engagements currently monitoring showed improvements
have been integrated into the national have been held with school children, street since 2013, while about 20 worsened.
development agenda and the budget. The children, young people, market women, Between 2013 and 2017, Ghana achieved
SDGs are being implemented through the artisans, persons with disabilities (PWDs), a decline in the proportion of the population
decentralized planning system, which allows commercial drivers and farmer groups. living below the international (13.6% to
for the participation of all stakeholders, Government is partnering with the media and 11.9%) and national poverty lines (24.2% to
including traditional authorities, civil society CSOs to scale up awareness and knowledge 23.4%), while child poverty was unchanged
organizations, private sector, academia, on the SDGs. at 28.3%. Prevalence of stunting was 18% in
United Nations Agencies, and other 2017, down from 19% in 2014.
development partners. Leave no one behind
Maternal deaths have reduced from 358
Institutional Arrangement Significant disparities in income, access to per 100,000 live births (2015) to 310 (2017).
basic services and decision-making exist Gender parity in basic education has been
A three-tier structure — High-Level across the country. Those at risk of being achieved, access to secondary education
Ministerial Committee, multi-stakeholder left behind include vulnerable women and improved through the implementation
Implementation Coordinating Committee children, unemployed youth, PWDs, the of the Free Senior High School Policy.
and Technical Committee—provides aged, rural populations, those in precarious Unemployment rate has increased from
oversight, coordination and implementation employment, and people in hard to reach 5.2% in 2013 to 14.1% in 2017, however the
of the SDGs respectively across the public areas. Efforts to reach those furthest behind environment for job creation has improved
and non-state sectors. Ghana Audit Service include expanding coverage of the social with the passaging of the new Companies
carries out SDGs-related assessments, protection system; improving infrastructure, Act. The Right to Information Bill has been
while the national human rights institution increasing productivity in the agricultural passed to improve access to information.
ensures that rights are protected. With sector; promoting youth development; and
over 300 members, the CSOs platform on pursuing vigorously, a decent work agenda. Data
SDGs, serves as focal point for engagement
between CSOs, private sector and Synergies across the goals Ghana has developed a National Data for
government. To support the President’s Sustainable Development Roadmap with
role as the Co-Chair of the UN Secretary The inter-linkages between the SDGs create three priority objectives: filling data gaps;
General’s Eminent Group of Advocates, a co-benefits that can be leveraged for effective encouraging data use; and strengthening the
SDGs Advisory Unit has been established in policy and investment decision-making, entire data ecosystem. Administrative data
the Office of the President. and trade-offs. Government’s promotion are being harnessed to generate timely and
Multi-stakeholder partnerships of clean cookstoves (SDG 2) will reduce disaggregated information for monitoring.
health risks (SDG3), particularly for women Ghana is also exploring new sources of
Ghana’s “whole-of-government” and “whole (SDG5), create jobs (SDG8), while positively data—geospatial and call details records from
of society” approach to the implementation impacting on climate (SDG13) and terrestrial the telecommunication industry. A quality
of Agenda 2030 has fostered partnerships ecosystems (SDG15). assurance framework is also being developed
and stakeholder collaboration. Partnerships with CSOs, academia and the private sector
between business leaders, traditional The intensive use of agro-chemicals to boost to fully leverage data within the ecosystem.
authorities and government have been agricultural productivity poses risks to water A national SDGs reporting platform has
institutionalized. Engagement with the youth resources (SDG6), human health (SDG2), been launched to make disaggregated data
has been enhanced through the CSOs’ sub- soil health and ecosystems (SDG5), which available.
platform on youth. are being addressed through education on
proper application of inorganic fertilizers and
good irrigation practices, and the promotion
of large scale compost plants.
86 The Business Executive
|GEMBA
CEIBS Global Executive MBA
#5~ Ranked worldwide by Financial Times, London
~ Highest- ranked stand-alone EMBA programme in the world
IMPACT A Transformational Learning Journey NETWORK
Enhance your managerial LEADERSHIP Expand your global reach and
effectiveness and return on network, while accessing China’s
investment by applying new skills Transform your ability to lead yourself, largest business school alumni
your company. your colleagues and your organisation community.
more effectively.
GLOBAL
FACULTY DIVERSITY
Develop a greater appreciation of
global business opportunity by Work with world-class faculty and Learn from high-achieving classmates
participating in a minimum of four industry experts throughout a from 20 countries and develop
global modules. 20-month journey that balances the collaboration skills needed to
China Depth and Global Breadth. meet the complex challenges of
today’s global business environment.
~ Core modules in Shanghai, Accra, Barcelona and Zurich 2019 Admission ongoing !!!
~ Global electives in Israel, New York, Sao Paolo, Scholarship opportunities available
New Delhi, Kuala Lumpur, Accra
Accredited By: FOR ENQUIRIES
www. ceibs.edu/gemba The Business Executive 87 Contact Samuel Ocloo-Dzaba
Tel: +233 544 315 238
+233 302 745 944 - 50
Email: [email protected]
Literature
Nguũ gi:ĩ African intellectuals
are responsible for
advancing their languages
Indian journalist Rohit Inani interviewed veteran Kenyan writer Nggũ ĩ wa
Thiong’o at the India Habitat Centre in New Delhi, India.
In 1977, you published Petals of Blood about a
peasant uprising in a neocolonial Kenyan society.
Immediately after, you published a controversial
play Ngaahika Ndeenda (I Will Marry When I Want)
in Kikuyu, your native language. Did you write the
play in Kikuyu because Petals of Blood failed to
connect with the people you were writing about?
It’s true. There is a reality in Africa that 90% of the population Ngugi wa Thiong’o, world-renowned Kenyan
speaks different languages. If you think, as I do, that people writer and academic
are an engine of change, then the question of their access
to information and skills is very important. When you write look at modern colonialism, the acquisition of the language of the
a novel in English—no matter how radical, no matter how colonizer was based on the death of the languages of the colonized.
progressive—it can only reach people in a trickle-down So it is a war zone. In case of India, [British historian and statesman
fashion. Thomas Babington] Macaulay was brutally honest about wanting to
create a class of Indians with English on their minds. The English
In 1978, while being imprisoned in the Kamiti wanted them to play a role in governing the rest of the population. It
maximum security prison, you wrote one of is true of Africa, and anywhere where there was a colonial situation.
your most famous books, Devil on the Cross, in African languages were weaponized against Africans. Language
Kikuyu, on toilet paper. How difficult was it to was a weapon of war whether we are talking about the Spanish
write an entire book on toilet paper? and Portuguese in Latin America or French in Africa and Vietnam.
Language was a very important element in both the conquest and
I was put in prison because of my play I Will Marry When I maintenance of colonial rule because it was likely to bind the minds
Want, which was published in Kikuyu and acted by peasants. of the middle class.
I remember the play being stopped in November 1977, and
on December 31, 1977, I found myself in a maximum-security Do you think that once you have mastered a language,
prison. Now, in prison I was thinking very seriously about the it becomes your own and you can reclaim it to free
language question. I realized that when I looked at the history yourself even if you have been oppressed by it? In
of colonialism, the colonizer not only imposes his language, but one of his letters to his father, V.S. Naipaul, as a young
he denigrates and represses the languages of the colonized. man in Oxford, wrote: “I want to come top of my
So the condition of learning English was the unlearning of our group. I have got to show these people that I can beat
language, which continued into the postcolonial era. them at their own language.”
I decided that since I’d been put in prison for writing in a national
language and put there by an African government, I would, as But this is the dream of the colonizer. They sit down and say, “Woohoo!
part of my resistance, write in the very language which had been They have embraced our language so much that are now competing
the basis of my incarceration. with us.” Naipaul is indeed the master of the language, and personally I
have no problem with that. I like Naipaul’s novels. What I have a problem
You have called language a “war zone,” with is in thinking that somehow we are advancing the languages of the
and you describe yourself as a “language cultures, which have been oppressed. No. When you do that, as he
warrior.” Can you briefly talk about that? did and as I did in Petals of Blood, what we are doing is expanding
the capacity of the English language. It is OK to make English our
Look at the Irish situation with the British. The humiliation of own or French our own. Any individual writer can make a language his
Native Americans, how their language was denigrated. In Africa, own, but you can’t tell me that by writing in English [Joseph] Conrad
of course, we were forbidden to speak our mother tongues. was somehow helping the Polish language [Conrad’s native language].
Japan imposed its language on the Koreans. So wherever you
88 The Business Executive
The Business Executive 89
Literature
You mentioned using language as a weapon by the The book also tells about your relentless pursuit
colonizer. In the same way, do you think English of an education and the role of your mother in
can be used as a weapon by the colonized, as instilling it in you.
Chinua Achebe said, “as a counterargument to
colonization”? My mother could not read. She had never been to school and
worked in the fields all her life. But she was the one who sent me
In Achebe’s Things Fall Apart, we see an immense contribution to our to school. My sister bought me my first pair of shoes so that I
consciousness of oppression of cultures. One should not take away could go to school, and she used to write my homework. I don’t
from the actual contribution of writers and intellectuals from the Third know how she did it. And one thing I remember is that always
World who write in English or French or so on. But the leap that I don’t when I’d come and tell her that I got 100 percent in my exams
agree with is that somehow you are advancing the other languages or and she would ask, “Was that the best?” The idea of “the best”
that English is becoming an African language. Africa has got its own was integral to her questions about how I had done. That was
languages. It’s on the African intellectuals to make this case, because her measure of success.
it is the intellectuals who are responsible for advancing their language.
When an intellectual abandons it to write in another language, it leaves How did you decide of taking up memoir as a
his language with one less mind. form? Was self-depiction a challenge?
J.M. Coetzee has said that English liberated him For a long time, I could not bring myself to write about myself.
from the narrow worldview of the Afrikaans, but last And the reason is that I wrote novels drawing from my own
month, speaking at the Hay Festival in Colombia, experiences. I mean Weep Not, Child is not written from a
he said, with disappointment, that “the hegemony strict biographical perspective, but I’m drawing from things
of English language, of London and New York in the which have happened around me. But of course I have
realm of global literature has to end.” He also went become the father of 10 kids. My wife said, “Look, you really
onto say that “English is not my language in a way need to tell them something about yourself, because you will
that English was to Shakespeare.” not always be there to tell them of what happened.” So in the
first volume I decided to write only about my childhood. Going
Oh. It is a very important shift. If it was a normal thing for African to high school. I did that in Dreams in a Time of War, because
intellectuals to develop works in their own languages, then it doesn’t I went to school literally during war and growing up to avoid it.
matter that some also happen to write in another language. Conrad It’s also about how my mother.
writing in English did not affect the mass of Polish intellectuals writing
in Polish. But we are talking about a situation where it’s not just one
or two but the whole intellectual community, whether in agriculture
or medicine, writing in English or French. The legal system is usually
conducted in English or French, when a majority of people operate in
different linguistic spheres. That’s really the problem.
In your memoir, Dreams in a Time of War, you write,
“We often crowded around whoever was telling a tale,
and those who were really good at it became heroes
of the moment.” Can you talk about the influence of
the tradition of storytelling on you while you were
growing up?
Every community has a storytelling tradition. Be it the stories in
Mahabharata [a Sanskrit epic from ancient India], or even some
philosophic discussions of Plato or Socrates. I always think that the
best storyteller is the one who has an anxiety of expectation and fulfills
it because if you don’t, then there is disappointment. I was a very good
listener and very poor at telling the story. I always wanted to listen.
Source: The Nation
90 The Business Executive
GIFT VOUCHERS
Shop online at www.melcom.com
follow us @melcomghana
The Business Executive 91
Communication
THE BLOODY BIRTH OF
CORPORATE PUBLIC
RELATIONS
By Sean Braswell
In Ludlow, Colorado, United States (US) friend to open one of the nation’s first PR Ivy Lee, Father of PR
the National Guard had not been sent firms — dedicated to bringing the journalistic
to protect striking coal miners from principles of “accuracy, authenticity and A subsequent publicity sheet claimed —
the daily attacks of vigilante gunmen interest” to the embryonic PR field. For falsely — that the massacre had been the
stationed outside the camp — they Lee, it was about transparency and helping work of “well-paid agitators sent out by the
were there to protect the investment of companies get out in front of potential union,” that Mother Jones was “a prostitute”
the Colorado Fuel & Iron Corp., owned controversies. For example, US railroad and that the women and children who had
by John D. Rockefeller Jr., who was companies had long failed to acknowledge suffocated in the pit had been the victims of
bankrolling both the vigilantes and the fatal accidents on railway lines, but Lee an “overturned stove.” The whole episode,
guardsmen. made sure that reporters were briefed and according to an official statement from
allowed to inspect the accident scene and Rockefeller, was “to be regretted,” but the
On 20th April, 1914, those remaining in question officials, successfully deflecting “defenders of law and property … were in no
the camp were sprayed with machine- unwarranted criticism in the press. slightest way responsible for it.”
gun fire by the guardsmen, and the tent
colony was torched, killing at least 66 But Lee was also a student of what he That was just the start of Rockefeller’s
people. The strike failed, but the bloody called the psychology of the multitude rehabilitation. The following year, after the
Ludlow Massacre was a public relations and believed that publicity worked best miners had returned to work, the industrialist
disaster for Rockefeller - one so bad when trained professionals played on “the made a well-publicized visit to Ludlow, where
that it required the birth of modern imagination or emotion of the public.” he ate with the laborers and announced
corporate public relations (PR) to remedy Presentation was paramount, and the facts a plan to address worker grievances.
the situation and salvage Rockefeller’s were flexible. As the philosophical Lee put Over time, Lee’s client was recast as a
charred legacy. it, “What is a fact? The effort to state an humanitarian and philanthropist, a reputation
absolute fact is simply an attempt to … give he still enjoys today.
True corporate spin doctors like Ivy Lee you my interpretation of the facts.”
did not emerge until events like Ludlow Lee’s interpretative skills would be tested like Lee’s reputation, however, would take a
demanded their talents. never before in the wake of Ludlow. Earlier, hit shortly before his death in 1934 after
Rockefeller, obsessed with burnishing his it was revealed that he had met with, and
“[S]ince the dawn of representative father’s robber baron image, had testified dispensed PR advice to, Adolf Hitler and
democracy, corporations and political before Congress about the miners’ desire head Nazi propagandist Joseph Goebbels.
elites have used public relations and to unionize to win better wages and working Despite the sordid marks on Lee’s record,
lobbying to subvert and subdue conditions. Asked two weeks before the his innovative PR legacy is — rather fittingly
democracy,” argues David Miller and massacre if he would stick to his anti-union — open to a host of interpretations
William Dinan in A Century of Spin: How principle even “if it costs all your property
Public Relations Became the Cutting and kills all your employees,” Rockefeller Sean Braswell is a Senior Writer at OZY.
Edge of Corporate Power. had chillingly replied, “It is a great principle.” Source: OXY
While publicists had occasionally penned With Rockefeller under siege from well-
puff pieces to defend company interests known union activist Mother Jones and
from muckraking journalists in the late informed by the popular writer Upton
19th century, true corporate spin doctors Sinclair that “I intend to indict you for murder
like Ivy Lee, sometimes called the father before the people of this country,” clearly
of public relations, did not emerge until it was time for the wealthy industrialist, in
events like Ludlow demanded their talents modern PR parlance, to implement a crisis-
Lee, a Princeton economics graduate, management plan. Lee, whom Sinclair
had been a muckraking journalist until the dubbed Poison Ivy, was brought in to
long hours and low pay drove him and a interpret the facts surrounding the Ludlow
killings.
92 The Business Executive
»
»
» Complete payment
on any Lakeside
Estate House by
the End of
November, 2019
and enjoy
FREE FURNISHING.
* Terms and Conditions Apply
The Business Executive 93
SPECIAL SUPPLEMENT
GHANA BEYOND AID
Backgrounding ‘Ghana
Beyond Aid’ for the forward
match
By Ayuure Kapini Atafori
The ‘Ghana Beyond Aid’ (‘GhBaid’) The first sketches of the ‘GhBaid’ vision All of these are things we need concrete
agenda has been recently articulated was made public when President Akufo- plans and spelt out in detail. It will be
eloquently by President Nana Addo Addo was answering a question at the done.”
Dankwa Akufo-Addo, Ghana’s Head second media meeting at the Flagstaff
of State, at home and abroad as his House, the Seat of Government, in Accra, The Oxford Africa
masterplan that would transform what he Ghana’s capital city, in January 2018. Conference
has often referred to as the “Guggisberg
economy” into a modern, self-reliant The President said: “on the issue of Again, on 18th May, 2018, President
industrialized one. ‘Ghana beyond Aid’, the importance Akufo-Addo, at the Oxford Africa
that this administration is placing to that Conference held in London, the United
It is expected that by the close of the concept requires that a specific program Kingdom (UK), discussed the challenges
medium-term implementation of the now- of action be laid out before the Ghanaian of Africa’s development and took the
being-crafted, development-focused people. It will be laid very very soon, opportunity to elaborate on his “Ghana
blueprint, Ghana would have become a to see specifically the steps that are Beyond Aid” agenda.
full-fledged middle-income country which required to date; how we can reduce our
is on the next level towards becoming an dependence in our education and health
industrialized economy. budget on foreign tax payers money.
94 The Business Executive
KEK Insurance Goup INSURANCE GROUP
Ghana’s No.1 Broker Since 1992 GHANA’S NO.1 BROKER SINCE 1992
Service with Expertise & Integrity
The Business Executive
95
Charles F. Oduro, Managing Director Thank you for taking the time to learn more Airport Residential Area. Most brokers talk
about KEK Insurance Brokers Ltd. If you are about service, but are unable to deliver on
2 Best of Ghana considering insurance services, we have their promises. We walk our talk each and
the resources to deliver the best-in-house everyday; in fact, we conduct customer
insurance broking services. satisfaction surveys on our clients every year
and use the valuable feedback to constantly
Our vision for the next five years is to be fine tune our services from product offerings
the leading and most admired insurance and to technology innovations to marketing
reinsurance broking firm in West Africa. support.
We aspire to achieve this through a I look forward to speaking with you about
combination of excellent, quality and timely how we can bring the KEK experience to
delivery of broking services to our cherished your credit.
clients.
Our strength as a company is rooted
in our quality human resource base and a
dedicated management team with several
years of proven experience in developing
successful insurance programmes.
Our commitment is to deliver world class
services to our clients whilst constantly
looking for ways to improve these services.
To deliver on this, we currently operate
from an ultra-modern head office complex
located at No. 40/41 Senchi Street at
Best of Ghana 3
SPECIAL SUPPLEMENT
GHANA BEYOND AID
President Addo Dankwa Akufo-Addo with Hajia Alima Mahama, Minister for Local Government & Rural Development The ‘GhBaid’ master-plan should also
incorporate the Northern Development
Speaking at the third Ghana CEO Summit, develop a Charter for the ‘GhBaid’ vision. Authority (NDA), Middle Belt Development
which was held on 21st-22nd May, 2018 The committee is mandated to submit what Authority and Coastal Development
in Accra, the President underscored his many analysts have tagged a roadmap Authority; and factor in the creation
conviction that a banking sector which to the President by September 2018 for of the new regions. It must concretely
is dominated by foreign banks would not him to issue a Whitepaper and present integrate all the strategies that underpin
augur well for the success of the ‘GhBaid’ the report to Parliament for legislating. the Government’s numerous development
agenda. The NPP Government envisages that programs and projects like One-Village-
the Blueprint will aid Ghana to harness One-Dam, One-District-One-Factory and
To him, it was crucial that the Bank of and add value to the country’s enormous Planting for Food and Jobs. The master-
Ghana (BoG), the regulator, recognized natural endowments in order to fund its plan should fashion out workable policy
that many foreign banks were not ideal development agenda devoid of foreign implementation timelines.
for the ‘GhBaid’ initiative. “[I]t is essential aid – a departure from the traditional neo-
that indigenous banks will survive in any colonial dependency syndrome. Hopefully, the committee is intellectually
meaningful reform,” he said. He assured and experientially robust and sound
that the ‘GhBaid’ agenda was not sheer Neo-colonial dependency enough to come out with a water-tight,
sloganeering, pledging his government’s syndrome long-term development plan that, should a
commitment to implementing it regime change occur, the new government
successfully. cannot afford to dump it and go for its own
unilateral plan. That is why some well-
The President noted that the agenda to The document is expected, post- meaning and public-minded development
move the country away from dependence parliamentary endorsement, to become specialists mooted that the committee
on aid is anchored heavily on a sound the policy-filled plan that will guide the should have included technocrats and
financial system in which indigenous crafting and implementation of the experts from the opposition parties, civil
banks play a critical role. He expressed programs and projects of the Government society organizations and the Ghanaian
confidence in the capability of the BoG systematically and coherently. For the Diaspora to make the plan accepted by
to ensure the survival of local banks. He anticipated blueprint prepared by the all the multiple stakeholders since they
prevailed on the BoG to take proactive committee to be effective and results- will view it as the outcome of their own
measures that would strengthen the local oriented, it must be synchronized with the contributions.
banks since the ‘GhBaid’ vision cannot be Government’s seven-year development
realized without these banks assisting to plan and Akufo-Addo Program for Be as it may, the committee, chaired by
achieve the blueprint’s objectives. Economic Transformation (AAPET) Senior Minister Yaw Osafo Marfo, includes
which is in the 2018 budget and policy Finance Minister Ofori-Atta, Labor and
At many other internal and external statement. According to Mr. Ken Ofori- Employment Minister Ignatius Baffour
forums, he talked about the agenda Atta, the Minister for Finance, AAPET Awuah, Planning Minister Professor
repeatedly. The actualization of the current is envisioned “to modernize agriculture, Djan Baffour and Local Government and
New Patriotic Party (NPP) Government’s improve production efficiency, achieve Rural Development Minister Hajia Alima
seeming long-term national development food security and increase profitability for Mahama.
plan was incepted when President our farmers.”
Akufo-Addo inaugurated a 13-member The rest are Dr. Anthony Yaw Baah and
committee on 14the June, 2018 to Mrs. Philomena Sampson, both of the
Ghana Trades Union Congress (TUC), Mr.
David Ofori Acheampong, a representative
of the Ghana National Association of
Teachers (GNAT), and Messrs. Kwaku
Agyeman-Duah and Nana Osei Bonsu,
both of the Private Enterprise Federation
(PEF). The others are Dr. Yaw Adu Gyamfi
of the Association of Ghana Industries
(AGI), Dr. Eric Yeboah of the Office of the
Senior Minister and Dr. Yaw Ansu, a senior
policy adviser at the Finance Ministry.
On external assistance
Speaking at the Jubilee House to
inaugurate the committee, President
Akufo-Addo said it was ironic and improper
that over 60 years after the country’s
independence from British colonial rule,
it was still relying on external assistance
from mostly Western (Euro-American) and
Asian (Sino-Japanese and Korean) donors
while the West African State possesses
rich and abundant natural-cum-human
resources.
96 The Business Executive
The Business Executive 97
SPECIAL SUPPLEMENT
GHANA BEYOND AID
The President said Ghana is dependent on Both sides of Ghana’s legislature, which is (SOEs) have rallied behind the agenda with
foreign aid majorly due to his compatriot’s contemporarily wont to be overly-partisan, some enthusiasm. For instance, the Ghana
inability to develop the economy to the do back ‘GhBaid.’ With the headline Export-Import Bank’s (EXIM Bank) five-
extent that allows the country to do ‘Majority, Minority support Ghana Beyond year strategic goals (2017-2022) include
things for itself. “By now, we should be in Aid agenda,’ the country’s most widely to increase revenue from non-traditional
position to fund activities for reasons that circulated newspaper, Daily Graphic of exports from its current average of US$
are obvious, then, we will have control 1st June, 2018 reported: “Majority and 2.4 billion to US$5 billion by developing
over our own destiny,” he said. Minority Members of Parliament (MPs) crops such as avocado and cashew
have expressed their support for the Ghana into major export products; reducing the
He added: “We will then decide for Beyond Aid agenda being championed by country’s import bill for poultry by US$300
ourselves what things are priorities for us President Akufo-Addo. million to become a key finance partner for
and go ahead and address them and not effective implementation of the initiatives
have to be at the receiving end of other “They, however, disagreed on the ability such as One District One Factory; and
people’s instructions … I think the time of the government to implement policies complementing the efforts of exporters
has come for us to realize that potential; and programs to wean the country of its to make Ghana a strong industrial pillar
to make a conscious effort together dependence on donor partners. regionally and globally, particularly in
as a people to get there. It seems for pharmaceutical manufacturing.
Ghanaians to get there, the yet-to-be “While the Majority MPs last Wednesday
developed transformative plan will have [30th May, 2018] said the government’s The EXIM Bank’s strategy is also aligned
to dance to world-famous Osibisa’s song flagship policies would lead to the to the Government’s 10-point Agenda for
with the lyrics ‘We are going, heaven attainment of the agenda, the Minority MPs Industrial Transformation. It focuses on
knows where are going, we know will.’” said it was a mere rhetoric not backed by developing sectors such as garment and
concrete action.” apparel manufacturing and raw material
The President expressed displeasure that base development for avocado, cashew,
the country did not have control over The legislators were debating a statement oil palm and cassava.
most of its important natural resources made by Hon. Frank Annoh-Dompreh
such as gold, oil and gas, diamond, on ‘GhBaid.’ Hon. Annoh-Dompreh There have been subjective and objective
timber, expansive arable and fertile commented that the country has reached criticisms of the ‘GhBaid’ agenda. The
land, variegated water bodies, salt and a stage “where she must decide to either Government needs to take the positive
many more. “The situation where foreign remain economically dependent on donors criticisms in good faith, and modify the
entities dominated the important sectors to fund its development or mobilize agenda accordingly. Mr. Appiah Kusi
of Ghana’s economy cannot be right and resources from within.” Adomako, a consumer rights advocate,
ought to change,” he intoned. He called, wrote: ‘GhBaid’ will be possible only
therefore, for a paradigmatic change. He Natalia Kolandina, the International when the government enhances domestic
urged the members of the committee to Monetary Fund (IMF) Country revenue collection and clamp down on
live up to the expectation of Ghanaians Representative, conceded that though tax holidays for multinational companies
by working to bring dignity and pride to the government’s ‘GhBaid’ program operating in the country. Recently, the
the citizenry. He further entreated the was laudable, it was imperative for the government granted an overly generous tax
committee to draft the Charter in such a managers of the economy to ensure holiday and waiver of about US$250 million
way that will resonate with all the estates that fiscal discipline was maintained and to Anglogold Ashanti … Ghana cannot doll
of Ghana with the final outcome to enable sustained in order to improve the macro- out generous tax holidays to multinational
the document to become a mobilizing economic situation. She argued that the firms and go and borrow at usurious rates
instrument to develop the country. agenda and other initiatives would put from the international capital market.”
Ghana on a path of growth even after the
Underscored the reality IMF program has expired. The low local content in all industries must
be increased so that the agenda can really
Referring to his speech at the Oxford Macro-economic stability inure to the gain of Ghana. With the recent
Africa Conference, Samuel Alesu-Dordzi collapse of seven indigenous banks, and
observed that President Akufo-Addo “The focus now is ensuring macro- many more banks expected to be wound
“rightly underscored the reality that there economic stability is maintained in the up before 31st December, one wonders
is nothing to show for all the wealth and future, in the future outside the IMF what the BoG has made of President
resources that we have been blessed with. supported program. We, therefore, support Akufo-Addo’s prayer that local banks
He talked of the need for the continent the objective of moving Ghana beyond aid. should be supported to survive and push
[Africa] to resurrect from its ashes and What I understand by that is achieving the ‘GhBaid’ agenda.
reassert itself on the global arena.” Alesu- macro-economic stability and at the same
Dordzi is not alone in critically backing time maintaining high and sustainable Whether the critique of the agenda
the ‘GhBaid’ agenda. Many Ghanaians rates of economic growth,” Kolandina is constructive or unconstructive, all
and several external personalities and concluded. Ghanaians deserve and desire is a change
institutions too applaud the agenda. of the neo-colonial architecture of the
Thus, there seems to be unanimity and Most Ministries, Departments and economic ecosystem.
consensual approval of ‘GhBaid’ in the Agencies (MDAs) have been, and are
country. being, marshaled to support the ‘GhBaid’
gospel. Some state-owned enterprises
98 The Business Executive
The Business Executive 99
View Point
What is driving xenophobic
violence in South Africa?
By Shannon Ebrahim
There is a narrative in the country that There is something about the pattern of The African Center for Migration which
there is no conflict between South violence against African nationals that maps xenophobic violence through
Africans and foreign nationals from seems far more organised and orchestrated their online site Xenowatch puts the
Africa. On the ground is another reality, than previous outbreaks, and we need to vast majority of recent incidents around
where the horrific spate of xenophobic ask the questions why and who. Johannesburg at 301, in KZN 77, in the
violence of the past week targeted foreign vicinity of Port Elizabeth 31, and in Cape
nationals from the rest of the continent. How was it that looting and burning of Town 111.
foreign-owned shops and homes broke
It was specifically the shacks of out in so many unrelated locations in If we are to wage war as a country
Zimbabweans in Marabastad that hours? Jeppestown, Rosettenville, against the scourge of xenophobia,
were torched, the auto repair shops Germiston, Tembisa, Turfontein, Boksburg, first we need to acknowledge that it
of Nigerians in Jeppestown that were Melvern, Marabastad, Alex, and even in even exists, we then need to officially
burnt to smithereens, and the trucks of KwaZulu Natal (KZN) all within hours or categorize certain violent crimes as
Zambian truck drivers that were blocked simultaneously. Could this really have been being xenophobic violence, (currently the
from moving, and the drivers’ lives a spontaneous explosion of criminality and police have no such reporting category
threatened. prejudice against African nationals who are for statistical purposes), map where it is
being blamed for poverty, lack of jobs and occurring, and with what frequency. Once
It is reminiscent of the recent stabbings social inequality in the country, or is there we have a more accurate picture we can
of Malawians in Diepsloot and Mamelodi something more going on? develop strategies on how to counter it.
because of their accents, and the
extortion of Zimbabweans in the The police were in fact armed with But beyond determining information on
Johannesburg and Pretoria Central intelligence about what was about to the hotspots, we need to know if there
Business District’s who are told if they happen, although it is unclear whether it are other forces at play that are using
don’t pay up they will be sent to Lindela. was actionable intelligence. The African an already existing volatile situation to
Diaspora Forum - the umbrella body of the undermine the Government’s economic
But what was particularly ironic about largest group of migrant traders - claims agenda, and our standing on the
the recent outbreak of violence is that it that it warned the police of impending continent ahead of South Africa taking up
happened on the eve of the Africa World attacks. the Chair of the African Union next year.
Economic Forum in Cape Town, where
South Africa was meant to showcase How much do we know about the three There is a growing body of analysis that
our commitment to greater integration organizations that allegedly motivated is focusing on the weaponization of the
and trade with the rest of the continent, attacks against foreign nationals? The All economy, which centers on the intent
and market our country as a premier Truck Drivers Foundation, Respect SA, and to discredit governments in the eyes of
investment destination. Sisonke Peoples Forum make no secret their people by bringing the economy to
of their agenda against foreign nationals, its knees, and making a country seem
This was the moment to herald the but we don’t know who funds these ungovernable. This was tried in Egypt
promise of the African Continental Free organizations and what links they have. when Mohamed Morsi was President, it is
Trade Agreement, and position South currently being attempted in Venezuela.
Africa as a gateway to the continent - a We are a country that is straddling many
potential manufacturing hub that will divides, but attempting to create our
export value added goods to the rest of own brand that is rooted in a struggle for
Africa. social justice that was championed by
former President Nelson Mandela.
There will always be consequences for
pursuing such independent policies,
and if we look around us, few such
independent governments have managed
to withstand the test of time.
Shannon Ebrahim is the Group Foreign
Editor of Independent Online (IOL).
110000 TThhee BBuussiinneessss EExxeeccuuttiivvee
The words you are searching are inside this book. To get more targeted content, please make full-text search by clicking here.
Discover the best professional documents and content resources in AnyFlip Document Base.
Search