Issue No93 - Bands To Watch Edition

www.thebusinessexecutive.net

...Custodians of Corporate World
Issue 093, 2020

tBorwaTanotpcdhs

in Ghana in 2020

StrategieEsffetcotiAvtetrBarcatnCduBstuoimldeinrgs

Inside:

CShoorocnkawvairvuessSFeanrdBsePyoonlitdicCahl-iEncaonomic

STANDARD ACCURACY TIMELINESS GHANA ...................... Ghc25.00
NIGERIA .......................... N2.000
USA ............................. USD$6.00
S. AFRICA ......................... R60.00
OTHER COUNTRIES...... USD$5 .00

www.thebusinessexecutive.net





CONTENT

Cover Story Economy Banking Agriculture

Top Brands to watch in “Expenditure would have Post-financial sector Can the Ghana Commod-
Ghana in 2020 to be re-examined in 2020” clean-up reforms outlook ity Exchange be a game
Page 10 changer in agricultural
Page 14 Page 18
economics? Page 20

Brands to watch Viewpoint Corporate Governance U.S. Affairs

Special Supplement on Non-economic factors “Sound corporate governance How will Trump’s succes-
Select Ghanaian impacting Ghana’s practices critical to improving sor reintroduce America
Companies development economic efficiency” - BoG
Page 25-94 Page 90 to the world?
Page 94 Page 96
Diplomacy Management
Real Estate Law

Australia-Ghana partner- The Art of Negotiation: Overcoming the challenges to Law and the New Develop-
ship thriving for better Its features, tactics and land registration in Ghana mental State in West Africa
development (Part Two)
Page 102 myths Page 106 (Part One) Page 116
Page 104
Education The Business
Health Entertainment Executive Limited

Location: 220 King Tackie Road,
Mile 7 Achimota, Accra

P.O.Box 892, Odokor - Accra
Tel: (+233) (0) 248135645

(+233) (0) 302431608
Email: [email protected]
website: www.thebusinessexecutive.net

Quality: A Goal of the Coronavirus Sends Politi- In love with the blacklist- @_thetbeghana
Education for All Policy cal-Economic Shockwaves ed Nollywood Eight?
Page 120
(Part One) Far Beyond China
Page 114 Page 118

4 The Business Executive

Editorial

Published by Examining globalization,
The Business Executive Ltd. coronavirus and a post-COVID-19
world
CEO/DIRECTOR, WEST AFRICA Though the fatality rate of the deadly disease
is still being assessed, the pandemic has taken
Paulette Kporo
Globalization involves the the lives of about 180,015 people worldwide
DIRECTORS as of 22nd April. On the same date, there were
transnational proliferation of estimated 2,588,351 confirmed cases in 210
Friday Billy countries and territories globally.
Adolphus Asekomhe goods, services, information,
The global political, economic and socio-cultural
EDITOR technology and jobs as well as consequences of the pandemic have been
disastrous. It shook the foundations of stable
Ayuure Kapini Atafori the movement of human beings. democracies like those of the US, UK, Germany

CONSULTING EDITOR Much as globalization has its good parts, it has

Toma Imirhe its bad aspects too.

FOREIGN CORRESPONDENT Some of its benefits include easier access to new and Canada.

Portia Matlombe foreign culture (including food, movies, music Its consequential lockdowns and unbudgeted
and art); spread of technology and innovation; expenditures have negatively affected many
BUSINESS DEVELOPMENT MANAGER lower costs of products and services; higher nations. For instance, the virus nearly brought
standards of living; and access to new markets the globe’s strongest economies in the U.S.
Genesis Asekomhe and talents. and China to their knees. Oil prices slumped to
The demerits of globalization are rising never-anticipated record levels.
FOREIGN BUSINESS DIRECTOR inequalities in incomes and wealth; vulnerability

Paul Francois to external economic shocks; environmental The IMF projected -3% global growth for 2020,
degradation; trade imbalances; unemployment; largely as a result of the Covid-19 pandemic.
FOREIGN REPRESENTATIVE stifling of local competition with dominant “The advanced economy group is forecast to
powerful global brands, among others. grow at 4.5%, while growth for the emerging
Robert Kofi
In modern times, the information communication market and developing economy group is
WEST AFRICA REPRESENTATIVE technology (ICT) revolution and jet-speed air forecast at 6.6%,” the Bretton behemoth stated.

Ibrahim Alhassani travel have transformed globalization to an The IMF said, however, that a rebound in 2021
extent that makes the human race vulnerable. depends critically on the pandemic fading in the
DESIGN & MULTIMEDIA MANAGER The nexus between globalization and the second half of this year, allowing containment
transmission of the coronavirus may be obvious. efforts to be gradually scaled back and restoring
Daniel Sackey Yobo
When the novel coronavirus emerged in Wuhan consumer and investor confidence.
ICT / SOCIAL MEDIA
in the Yubei Province of China in December A UN World Food Program report released in
Aidoo Jerry 2019, it was the air travel aspect of globalization April revealed that the pandemic could almost
that made it easier for the virus to spread to double the number of people around the world
CIRCULATION & SUBSCRIPTION many parts of the world rapidly. The epicenter of who are already suffering from acute hunger.
the coronavirus moved from China to Italy, and
Edmund Boateng
Abdul Salam Allotey from there to the US. God forbid, but experts In the wake of the continuing propagation of
forecast that Africa will be the next epicenter. the virus, dramatic changes in the way that lives
ADMINISTRATOR / PRO
With the widespread diffusion of the coronavirus, are lived all over the world. People are more
Tracy Billy and its ferociously devastating and fatal effects concerned and sensitive to personal hygiene
on the citizens of many countries, the Dr. Tedros than before the virus came in from the cold to
EVENTS/SALES EXECUTIVES Adhanom Ghebreyesus-led World Health wreak havoc on humanity. Humanitarian efforts
Organization had to declare it a pandemic, have been ricocheted universally. The application
Joyce Asare naming it Covid-19. What is so ominously of ICT to perform governance, corporate,
Rita Enyonam Archie Danso fearsome about Covid-19 is that there is no educational, social and personal tasks and
Adjetey Govardhan known vaccine against the vicious virus ailment. activities at home during lockdowns have gone
Eric Owusu Mensah notches higher worldwide.
Jemima Y. Amewode
Grace Elorm Amevor Suddenly, Covid-19 begun to have telling effects What will a post-Covid-19 world be like? Global
Ekua Asantewaa Yagoe on almost everything in almost every country. affairs will not be the same after the complete
Gloria Okai Larbi The lives and lifestyles of millions of people, containment of the coronavirus. Vaccine or no
Abena Dwomoah Bediako international relations, national political systems vaccine, optimists expect a better, humane but
and economies, business and finance, aviation,
tourism, entertainment, sports and many other tBEeconomically-challenged world.
sectors have been affected, and continues to be
affected, adversely by the ubiquitous Covid-19. Contributions for publication

Send your articles,letters, etc. to the editor:

[email protected]
or contact :+233(0)501678597

The Business Executive 5

Ethiopia opens up Africa News Briefs South African Airways
its mobile money Nigeria’s infrastructure offers employees
market to new deficit, forex pressure termination contracts;
players worsen inflation union puts forth
counter-offer
Ethiopia is going to allow new entrants to
offer mobile money services as part of its Godwin Emefiele, Governor of Cenral Bank of Nigeria The business rescue practitioners of South
$10 billion home-grown economic reform African Airways (SAA) offered severance
agenda. The Governor of the Central Bank of Nigeria, packages at the end of April to all staff at the
The National Bank of Ethiopia said the Godwin Emefiele, has said that the infrastructural troubled airline after failing to get additional
new directive would help it offer licenses to deficits and emerging pressures from the foreign support from government.
mobile money service providers requiring exchange market may aggravate inflation.
they put up 50 million Ethiopian Birr ($1.6 The airline wanted a R10 billion bailout
million) as a minimum requirement. The Emefiele said with the decline in crude oil receipts from the Department of Public Enterprises,
amount is to be deposited in a blocked as well as the dwindling capital outflows, there which was rejected. In a draft agreement,
account but no individual, other than was likelihood that inflationary pressures would the practitioners say it was unlikely the
government, is allowed to hold more continue. airline would be successfully turned around
than 20% of the shares of any licensed as a result of the business rescue process.
mobile money service provider. In addition, The Federal Government had revised downward
any company, other than a government its revenue projection for this year by N3.3 trillion The proposal is that more than 4,700
enterprise, is required to have a minimum from the initial approved amount of N8.41trillion employees will get as part of their severance
of 10 shareholders. to N5.08 trillion. An analysis of the revenue package one week’s remuneration per
items showed that oil revenue suffered the completed year of service; payment of
Prime Minister highest reduction of N2.38 trillion from the initial one month’s remuneration in lieu of notice
Abiy Ahmed of Ethiopia approved amount of N2.63 trillion to N254.25 pay, irrespective of any other contractual
trillion. provisions; payment for accrued, untaken
The hope is these moves, part of a wider annual leave; and a pro-rated 13th cheque
set of promised economic reforms under The National Bureau of Statistics said that the where applicable. In order to meet these
prime minister Abiy Ahmed, would help consumer price index, which measures inflation obligations, SAA will have to dispose of its
open up the Ethiopian economy. The rose by 12.2 per cent year-on-year in February. assets.
government is also looking at privatizing The inflation rate of 12.2 per cent, according to
Ethio Telecom and Ethiopian Airlines. It the Bureau, is 0.07 percentage points higher
is hoped this banking reform would help than the 12.13 per cent recorded in January.
ramp up financial inclusion in Africa’s The 12.2 per cent index is also the highest
second most populous country. recorded by the economy in the last 21 months.

In his personal statement made at the Monetary
Policy Committee meeting, Emefiele said
the rise in inflation in the last six months was
due to structural factors. He gave some of
these factors to include border protection
policy, disruptions and challenges around food
production belts, and pass-through effect from
the recent increase in Value Added Tax.

He said, “Domestic price levels maintained an
upward trend, for the sixth consecutive month,
due essentially to structural and supply factors.
Year-on-year headline inflation rose to 12.2
per cent in February 2020 from 12.1 per cent
in January, reflecting rises in both food and
core components. This is attributable, in part,
to border protection policy, disruptions and
challenges around food production belts, and
pass-through from the recent VAT increase.”

He continued: “Short-term outlook suggests
a gradual but continuously rising inflationary
pressure. This may be aggravated by the
inherent infrastructural deficits and emergent
forex market pressures, especially as oil receipts
dwindle and capital outflows persist.”

6 The Business Executive

Europe News Briefs

UK govt unveils £1.3 billion scheme to
help start-ups

The UK government has announced a £1.25 prosperity,” Sunak said.
billion package to support innovative new
companies that are not eligible for existing Newly-founded companies often lose
coronavirus rescue schemes. It would match money in their early years, which makes
up to £250 million of private investment and them ineligible for the government’s
add £550 million to an existing loan and emergency loan scheme. But it also
grant scheme for smaller firms that focus on makes them a risky investment. However,
research and development. the government is keen to ensure that
the economic impact of the coronovirus
Adding it up, that totals £800 million of new does not kill off some of the UK’s fastest
money to support fledgling firms. Chancellor growing and most innovative companies.
Rishi Sunak said start-ups would help power
the UK’s growth after the coronavirus crisis. Nevertheless, the rescue package comes
with strings attached. To qualify to receive
“This new, world-leading fund will mean the government money, a company must
they can access the capital they need at have raised £250,000 privately in the last
this difficult time, ensuring dynamic, fast- five years.
growing firms across all sectors will be able
to continue to create new ideas and spread Swedish central bank
signs agreement to
France faces massive 400-year old German join TIPS in 2022
bankruptcies of small brewery closes due to
businesses by end coronavirus restrictions The European Central Bank (ECB), the Eurosystem
April and the central bank of Sweden have partnered to
offer Sweden access to the Eurosystem’s Target
French risk assessment consultancy Instant Payment Settlement (TIPS) system. TIPS
Infolégale has predicted a huge wave of aims to bring together fragmented European
bankruptcies in France by the end of April, Union (EU) payment systems
when it estimated the first effects of the
coronavirus lockdown would start to be felt Electronic payments made in Swedish krona will
among the most vulnerable businesses. be settled on the TIPS system, with the first batch
set to be cleared under the new agreement in May
Commercial Court documents on 1-3 April After more than 400 years the family-run 2022.
showed that 72 percent of companies Wernecker Brewery closes its doors forever. “In crisis times, this agreement is a good example
employ fewer than five employees and 51 Wernecker, located in the Lower Franconian of strong cooperation between central banks in
percent of companies with a turnover of district of Schweinfurt in Germany sells the Europe,” says ECB President Christine Lagarde.
under 500,000 euros are now at grave risk of majority of its 20,000 hl of beer in its own
financial collapse. restaurants and at various festivals. Both have “Our real-time settlement platform is a pivotal
now come to a standstill due to the coronavirus contribution to Europe’s endeavours to satisfy
Business started to turn sour after the outbreak. citizens’ increasing demand for faster, cheaper
French government decided on 12 March, and convenient payment services without
to impose a lockdown that would eventually “There is a lack of sales at all ends,” said Christine compromising on security.”
affect all non-essential business and oblige Lang, daughter of Managing Director Hans Jörg
most French to work from home. According Lang. And nobody knows how long this will last. TIPS was developed as an extension of Target2
to Infolégale, 63 percent of failing companies What doesn’t make the situation any better: the and settles payments in central bank money. The
have a share capital of less than 10,000 traditional brewery is a seasonal business which system was designed to reduce fragmentation in
euros. Of those, 58 percent were already in depends very much on local festivals during the the EU and interoperate between multiple national
the red for the previous two years. outdoor season and the “beer garden business”. payments solutions.
The brewery has now applied for emergency
Companies most affected were those forced aid from the government. But it is already clear: TIPS offers final and irrevocable settlement of
to stop as a result of the confinement, this state support will not even cover the salary instant payments in euro, at any time of day and
notably retail, construction, public works, payments of the 15 employees. The beer has on any day of the year.
bars, restaurants, hairdressers, body care been brewed at Wernecker since 1617; the
specialists and advertising agencies. “We company has been owned by the Lang family Participating payment service providers can set
are going to witness a first major wave since 1861. aside part of their liquidity on a dedicated account
of bankruptcies at the end of April,” said opened with their respective central bank, from
Infolégale President Frédéric Julien. which instant payments can be settled.

The Business Executive 7 The price for each transaction is fixed at 0.20 cent
(€0.002) until November 2020.The first 10 million
payments made by each TIPS participant before
the end of 2019 were free of charge.

Asia News Briefs

Coronavirus: $3 billion Singapore probes
Chinese economy shipments at oil trader after $800
shrinks first time in stake for Indian million losses
decades apparel exporters
The troubles facing Singaporean oil trading
China’s economy shrank for the first Shipments worth about $3 billion are firm Hin Leong deepened as the city-
time in decades in the first quarter of at stake for India’s apparel exporters, state’s police have started investigating
this year, as the coronavirus forced following order cancellations and the company.
factories and businesses to close. payment delays amid the coronavirus
pandemic, revealed a survey in April. The probe, which the Singapore Police
The world’s second biggest economy The key findings of the survey are that Force confirmed by email, is the latest
contracted 6.8%, according to official the combined value of orders cancelled twist in the downfall of the company,
data released in April. The financial and on hold is about $1.49 million per which owes US$3.85 billion to more than
toll the coronavirus is having on the respondent factory; whereas 56 per 20 banks and revealed in court filings that
Chinese economy is a huge concern to cent respondents said their payments it hid about US$800 million in losses.
other countries. were delayed, and in 19 per cent
cases, customers refused to pay for Hin Leong did not immediately respond to
China, an economic powerhouse, is a the orders. emails and a phone call seeking comment
major consumer and producer of goods on 21 April in Singapore.
and services. This is the first time China The survey was conducted by
has seen its economy shrink in the first Rajesh Bheda Consulting (RBC), The implosion of Hin Leong Trading
three months of this year since it started a management consultancy (Pte) Ltd., one of the biggest and most
recording quarterly figures in 1992. organization focused on improving the secretive players in the world of physical
competitiveness of fashion industry oil trading, is among the most spectacular
“The GDP contraction in January-March entities. impacts wrought by this year’s collapse
will translate into permanent income in oil prices, which squeezed the firm’s
losses, reflected in bankruptcies across In absence of similar data in India, revenues and triggered banks to call in
small companies and job losses,” said RBC decided to undertake a quick debts.
Yue Su at the Economist Intelligence survey to understand the gravity
Unit (EIU). of the situation. In all, 77 apparel It is also the latest disaster to hit the
exporting organizations from different commodity trading community in
In 2019, China saw a healthy economic manufacturing hubs of the country Singapore, among the biggest globally
growth of 6.4% in the first quarter, a responded. alongside Geneva, London and Houston.
period when it was locked in a trade war The city-state in recent years has seen
with the US. In the last two decades, the Though the results are based on a the collapse of two other big names in the
Asian giant has seen average economic relatively small sample, they do provide industry, Noble Group Ltd. and Agritrade
growth of around 9% a year, although some much-needed data reflecting the International Pte, and a rogue oil trader
experts have regularly questioned the scale of the challenge, as experienced racking up millions of dollars in losses.
accuracy of its economic data. by the respondents and its potential Hin Leong, founded in 1963 by Lim
impact on the industry, RBC said in a Oon Kuin, is seeking Singapore court
statement. protection from its lenders.

Malaysia’s GDP to grow 9% in 2021- IMF

The International Monetary Fund (IMF) has For 2020, the Washington-based IMF
projected Malaysia’s real gross domestic forecast Malaysia’s economy to contract
product (GDP) to grow at a rate of 9% 1.7%, as the ASEAN-5 GDP shrinks
next year, the fastest among the ASEAN-5 0.6%. The IMF’s latest 2021 projection
countries which are expected to see a for Malaysia is higher than Fitch Ratings’
combined GDP growth of 7.8%. growth forecast of 5.8%.
Global growth is expected to rebound to
Besides Malaysia, ASEAN-5 includes 5.8% in 2021, well above trend, reflecting
Indonesia, Thailand, the Philippines and the normalization of economic activity
Vietnam, which are set to expand by from very low levels as the Covid-19
8.2%, 6.1%, 7.6% and 7% respectively. pandemic is over, said the IMF in a report
released on 20th April.

8 The Business Executive

Americas News Briefs

McDonald’s Brazil Firms Enter Canada
qualifies for $10 ‘Do Not Fire’ Pact Infrastructure Bank
million Covid-19 as Virus Roils CEO steps down
stimulus loan, Economy
revealing a Mr. Pierre Lavallee
loophole Brazilian companies have pledged
not to fire employees during the crisis The Federal Government has shaken
caused by the coronavirus while industry up the top management at the
continued to adjust operations as Canada Infrastructure Bank, including
politicians discuss when social isolation goodbyeing the Chief Executive Officer
measures would ease. (CEO) and installing a new board
While Sao Paulo state extended the chairperson.
quarantine until 22nd April the Health
Ministry estimated social isolation would Out is Pierre Lavallee, the first CEO of the
be relaxed by 13th April, according infrastructure financing agency that the
to Folha newspaper, while lender Liberals created in late 2017 to use $35
Itau expects gradual reopening from billion in federal financing over a decade
20th April. But Sao Paulo, the richest to help governments at all levels partner
and hardest hit state, might extend with the private sector to build revenue-
measures, local media reported. generating roads, highways, bridges
The latest data from the Health Ministry and electricity and water systems.
shows coronavirus cases rose to 12,056
with 553 deaths. Brazilian companies In as the new board chair is Michael
from fuel distributor BR Distribuidora Sabia, who was on an advisory group
to brokerage XP Investimentos and that recommended the creation of the
lender Itau Unibanco pledged not to fire agency, and a former chief executive
employees during the Covid-19 crisis. of Caisse de depot et placement du
Quebec that is behind an electric-rail
If McDonald’s had applied for a Economy Minister project in Montreal that the bank is
paycheck protection program (PPP) backs wealth tax, backing.
loan, there would be no law that stops rules out austerity
the largest fast-food chain in America measures In a statement, the Liberal government
from getting millions of dollars meant for said the changes “signal a new phase”
struggling small businesses. Economy Minister Martin Guzmán has backed for the financing agency and come at
McDonald’s realized in late March it the idea of a wealth tax on Argentina’s rich as “critical time” to address the “health and
fell within the qualifications for the the nation fends off creditors and finds money economic consequences” of COVID-19.
PPP, meant to help struggling small to help cope with the Covid-19 pandemic. Finance Minister Bill Morneau said
businesses. An internal COVID-19 The tax would affect 11,000 people with Sabia’s experience with infrastructure
related document of frequently asked fortunes of at least US$2 million, Guzmán said, would be “a critical asset as the bank
questions obtained by Business Insider without specifying where that cut-off point accelerates its activities.” Sabia became
said that “from our reading of the bill,” might come. He spoke to journalist Horacio chair on 15th April to replace former
nothing would prevent McDonald’s Verbitsky, and the interview was published on RBC executive Janice Fukakusa, who
from applying to the PPP program. the website El Cohete a la Luna in April. signaled her interest in stepping down
McDonald’s ultimately did not apply for months ago.
a PPP loan. The $135 billion company President Alberto Fernandez, in a separate
has many resources it can turn to for interview, also spoke of the need for wealth
funding — options small, independent redistribution. Argentina lacks room for
businesses lack. austerity or cutbacks and needs to reprogram
“Across the restaurant industry, there its debt with the International Monetary Fund
are several questions regarding levels of (IMF), Guzmán said, as the country enters
support being provided to companies, crunch negotiations with creditors.
by companies, and from various
government entities and programs in Argentina, which made about US$500 million
the US,” a McDonald’s representative of debt payments on 22nd April, announced
told Business Insider. “McDonald’s proposals for a deal that would see it push
Corporation has not, and will not, ask back most of its payments until the next
for assistance from any government decade.
entity, nor seek any deferral of our tax
payments.” Argentina would not be able to deal with its
debt obligations to the IMF until 2023, Guzmán
said, adding that the Fund understood that
the debt would have to be reorganized.

The Business Executive 9

Cover Story

Top brands to watch
in Ghana in 2020

By Ayuure Kapini Atafori

10 The Business Executive

Cover Story

Businesses everywhere in the These brands, which apply the newest The brands which have been profiled
world are set up to make profit. state-of-the-art technologies, new-fangled also include Goldmaxx Security,
To make profits in a competitive techniques and effective brand-building Azmera Restaurant, Manglad Roofing
environment, businesses prioritize strategies such as ‘smarketing’ (smart System Ltd., Fedek Ventures Limited,
branding by building images which attract marketing) to beat their competitors Homebase Ventures Ltd., Nkulenu
customers and clients to purchase their and stay at the top, include pan-African Industries, Acacia Health Insurance
products and services. and indigenous brands. The Business Company (Acacia), SUNU Assurances,
Executive magazine has surveyed and Atlantic Catering and Logistics Limited
In Ghana, many companies have over profiled some of these brands whose (ACLL) and RegencyNEM Insurance
the years been deploying their corporate peers and members of the public consider Ghana Limited. The rest are Frimps Oil
arsenals to build good images for as fast movers in the market. Company Limited, GCB Bank Limited
themselves by producing quality goods and and DPS International Ghana.
services which entice customers, maintain These brands include the Social Security
their loyalty and increase patronage and and National Insurance Trust (SSNIT), These brands are trendy, innovative and
sales. Ghana Water Company Limited (GWCL), IT-savvy, making them highly competitive
Agricultural Development Bank (ADB), and attractive to consumers. Now,
But there are some Ghanaian companies Buka Restaurant, Pentecost University they are weathering the storm of
that stand out among the lot in 2020, and College (PUC), Japan Motors Trading the prevailing Covid-19 pandemic in
it is worth drawing the attention of the Company Limited (JMTC), Vaniado, Ghana, and are expected to come out
public to these outstanding players in the Ethiopian Airlines, Herrada Africa Group triumphantly, winning the admiration of
local corporate world (Read pages 28 to and Nguvu SheaCare. many of their competitors. Consumers
94 to know the details about the brands). should do business with these brands
These are the brands to keep an eye on in The other brands are Unique Floral, Tobinco to get real value for their money.
2020 and the years ahead because of their
phenomenal performance. Pharmaceuticals Limited (TPL), Ederick tBE

These brands offer high quality products Limited, S. Tetteh + Associates, Eagle
and services at competitive prices in
order to be on top of the competition. The Petroleum, Selina Beb, Quality
brands in the consumer market segment
are building a pool of customers and fast- Life Assurance Company Ltd.
tracking the purchase of Fast-Moving
Consumer Goods (FCMGs), also known (QLAC), Standard Chartered
as Consumer Packed Goods (CPDs) or
Consumer Packaged Goods (CPGs) by Bank Ghana Limited, SIC
using effective pricing methods. FCMGs
refer to non-durable products that are sold Life Savings & Loans
quickly.
Company Limited
These brands have proved, and are still
proving, their vintage mettle with soldierly (SICLife S & L) and B5
resilience since the novel coronavirus
disease spread to Ghana from the Yubei Plus Ghana Limited.
Province in China where it first emerged
in December 2019, and rapidly became a
pandemic.

Some of these are corporate colossuses,
while others are mid-sized domestic
operators. There also exist those which
do not pretend to be prominent upmarket
entities but have endeared themselves
to persons, groups and companies with
disposable incomes. The important thing
about them is that they have all individually
made an impact in their respective
niches. The influence they exert on their
customers and clients, their employees, the
market, government revenues and on the
communities in which they operate in terms
of corporate social responsibility (CSR) is
tremendous.

The Business Executive 11

Cover Story

Effective Brand
Building Strategies
to Attract Customers

By Annetta Powell

12 The Business Executive

Cover Story

It is very important to be clear about “When building strategies consistently, then you will
your branding strategies and how you easily establish a pattern that will forever be
are going to implement them. Below are building your associated with your brand name.
some universal steps involved in using brand, you
effective strategies for brand building. should also 4.) Personalize Your Brand
endeavor to
1.) Define Your Brand develop brand If you want your brand building campaign
personality or brand to be successful, then you have
The first stage in brand building is defining (what people to personalize it. It is important to give your
your brand. This is a very critical step as it know, think, brand an identity. Let consumers see and
ultimately determines what your brand truly and say experience the personality of your brand in
stands for. You need to know what your about your its entirety. Look at your brand as something
brand stands for and what is important company). that a consumer wants to identify with pretty
for your brand (brand values). Your values This is what much as s/he will with her/his favorite cars,
should in one way or another show that you drives or cellphones, or computers.
are contributing to environmental, social, motivates
and economic well-being of consumers. people to Invite customers to be co-creators of
You may not realize some of these important identify with brand values so that they can feel that they
aspects of brand building immediately, until and engage also own it and relate with it. Top brands
you look at them objectively. with your encourage consumer-brand interaction by
brand. personalizing products to meet the needs
2.) Differentiate and “ and preferences of consumers. When you
Position Your Brand personalize your brand, you give consumers
reason to participate and engage with your
You have to take time to differentiate your brand for a lifetime.
brand so that you can attract attention and
stand out from competitors. To differentiate 5.) Review Your Brand
your brand, you have to create a unique
advantage in the mind of consumers Your brand will have to go through a range
not merely getting attention by brand of motions in its lifetime. Depending on
building colors or logos or other superficial your brand strategies, your brand will either
elements. grow in strength, or remain dormant, or
recede with time. In the brand cycle, new
Once you come up with a unique value events, changes, and circumstances bring
proposition, you should use a good challenges and opportunities to enhance the
branding strategy to position your brand value of your brand or re-establish it. All these
in a way that will help consumers see and possibilities should give you the impetus to
appreciate the greater value of your brand take charge of your brand building activities.
over competing ones in the market.
As your brand name grows, so do the
3.) Build and Expose Your responsibilities and expectations to continue
Brand with brand building. The best way of ensuring
brand growth is reviewing your activities and
Building a unique and powerful personal evaluating your successes through metrics
or business brand takes time and such as levels of brand awareness and
consistency. To build your brand, you have levels of engagements.
to keep reinforcing corporate values and
unique features by taking up new roles that Regular reviews will help you seize and
will give you more exposure. Alternatively, exploit new opportunities while upholding
you can use promotional channels, blogs, your commitment to remain true to your
forums, and social media (LinkedIn, Twitter vision and brand strategy. That will also help
and Facebook) to create a voice for your you steer your brand in the right direction
personal or business brand. and keep it relevant as you move into the
future.
When building your brand, you should also
endeavor to develop brand personality Conclusion
(what people know, think, and say about
your company). This is what drives or You have to define your brand, differentiate,
motivates people to identify with and present it, and review what your brand
engage with your brand. stands for from time to time. You should also
The truth is: if you execute your brand adopt brand strategies that will add value to
your consumers and help them develop the
right impression of your company and what
it truly stands for.

Credit: www.coxblue.com

tBE

The Business Executive 13

Economy

“Expenditure would have to
be re-examined in 2020”

Following the media briefing by Dr. Ernest Addison, the Governor of the
Bank of Ghana and Chairman of the Monetary Policy Committee (MPC),
in Accra on 25th November, 2019, the questions below were asked by
the journalists at the briefing.

Dr. Ernest Addison,
the Governor of the Bank of Ghana

14 The Business Executive

Economy

Q:

Over the years, I have observed that we have been recording trade surpluses. This time we recorded US$1.68 billion trade surplus.
However, most of the time, this has not reflected in our current accounts and we have observed that we have huge domestic assets.
For example, I know that Ghana is now the leading producer of gold and second in cocoa production. Is there a plan to convert these
domestic assets into reserves so that when there is an outflow of investors, normally at the beginning of political cycles, we do not have
swings in our foreign reserves?

Governor:

It is a pertinent observation that we have been recording trade surpluses for three consecutive years, and that the current account is
still recording a deficit in that sense. It is important to know that until three years ago even the trade account was in deficit. That is an
improvement, which indicates that we have moved away from an environment of recording deficits on the trade account to surpluses.
Essentially, that is due to increased oil exports.
Therefore, the question on translating this to current account surpluses really is about integration of the oil sector to the local economy,
and our ability to participate in the provision of services that the oil industry requires. This will ensure that the domestic economy benefits
directly from the oil sector. For instance, you will find that the oil rigs are offshore and the services provided, even the food taken on the
rigs is sometimes imported.
Therefore, until we reach that stage where Ghanaians are able to participate in that industry, we will continue to see a weaker
performance on the current account. But, you also raised an important question of converting some of our domestic assets to revenues
and you classified gold as one of the domestic assets. This is something that the Bank of Ghana has started considering, and we are
in discussions with some of the gold buying agencies, the local aggregators, with the plan to buy some of the gold locally and have
it refined to enhance the Bank’s foreign exchange reserves. That is an initiative that the Bank has already started and we will evaluate
how effective that would be.

Q:

The governors of the Bank of Ghana have always spoken about building up their reserves for a ‘rainy day.’ Do you think that looking
at what has happened for the past few months you might want to review that ‘rainy day’ strategy and up your interventions to try and
stabilize things a little?

Governor:

I hope you have seen the development on the global economy and the way emerging market currencies have moved during the third
quarter of the year [2019]. There has been a lot of pressure on the currencies of emerging markets and Ghana’s currency has been
relatively stable because of the work Bank of Ghana has done over the last quarter of the year.
We probably would have built more reserves than we have currently built were it not for the fact that we have been in the market in the
third quarter of the year to moderate the pace of the depreciation of the currency.

Q:

Can we get the full details of the cost of the financial sector clean-up in terms of your expenditure? We have seen data from the Finance
Minister saying that about GH¢16 billion has been spent. People are still complaining that they cannot get access to their funds. Is it
because these are in bonds?

Governor:

On the issue of the clean-up of the financial sector, the cost details are in the public domain. The amount that has been issued in the
form of bonds, GH¢14 billion I think was the last. But you want to add other costs, including costs from the receivership and cost the
Bank of Ghana has incurred due to the bond issuance. Currently, the trouble we have has to do with the fact that depositors were
paid in full in the case of the banks, but we have had to operate with pay out caps for the SDIs and as you are aware, the cap is set
at GH¢20,000 per account.
This is really the reason behind the complaints that people are not getting access to their funds. I should tell you that more than 95 per
cent of total deposits that have been covered are below this cap and more than 95 per cent have had their deposits fully refunded to
them. So there is just about five per cent of these depositors holding very significant amounts of money who have been ‘in a sense’
caught under this cap, and those are the ones complaining.
At the end of the day, this depends on the amount of resources that the government can afford to pay upfront as well as what the
receiver would be able to recover from the shareholders and directors. That is the job of the receiver and it is expected that by the end
of the receivership process, the unpaid amounts would be taken care of by the proceeds that the receiver obtains. The recovery job of
the receiver – pursuing loan defaulters and shareholders that have misdirected funds – is critical to meeting depositors’ full payments
and we must all give the receiver the necessary support to achieve that objective.

The Business Executive 15

Economy

Q: Can you give us update on the recovery rate of the receiver?

Governor: I hear we have recovered over GH¢1 billion to date. Obviously, there is still more work to be done because the
receiver has a loan portfolio of over GH¢10 billion. If only about GH¢1 billion has been recovered, then there is
more than GH¢9 billion out there to go after. Apart from the loan portfolio, the receiver also has other assets to
go after, and then we would be able to meet depositor payments that fall due.

Q: On SME lending, I don’t know whether you still want to allow demand and supply to dictate when it comes to cost of credit or have
you got to that point where you believe that there should be a deliberate regulatory intervention?

Governor: On SME lending, we have agreed to set aside two per cent of the primary reserves of banks. Banks are keeping
10 per cent of their deposits in reserves with the Bank of Ghana. We think we have reached a point where we
can set aside two per cent of those reserves but they will not be available to the bank to use anyhow. Rather
if a bank is ready to identify a problem directed at SMEs, that bank would get access to two per cent of those
reserves with the central bank. I do not know how you characterize that, whether it is market oriented or direct
intervention, but this is a deliberate effort by the central bank to support the SME lending.

Q: I was very happy to hear that tourist arrivals were a key driver of economic growth. Has this been the case over the years or are we
experiencing this because of the ‘Year of Return’ celebrations? Have we grown tourism to the point where it can actually drive economic
growth?

Governor: Yes, we have seen tourist arrivals increase. This is not the first time it has been a major source of activity in this
country. I have been following data on tourist arrivals as far back as when I was Director of Research. We did
a whole research on tourist arrivals in Ghana and its impact on hotel occupancy rate and all of that. I think this
year, we are beginning to see higher numbers – up by 30,000 and that adds up to keeping the economy as
robust as can be.
But I do not think we have reached our full potential yet. You just have to look at our coastline. When you go to
some Francophone countries, what do they do with their coastline? That is where you see the tourists, hotels,
restaurants, etc. We need to develop our tourism potentials even further.

Q: Consistently for the past three years, the country has missed revenue targets. If you look at the Fiscal Responsibility Act, we cannot
spend more than five per cent of our revenue for a given year. For 2019, we started with a deficit target of 4.2 per cent of GDP. In the
mid-year budget, we increased it to 4.5 per cent. We are starting 2020 with 4.7 per cent. There are concerns given the fact that we have
a revenue target of GH¢67 billion for 2020. What are we doing to ensure that we do not run a deficit higher than stated under the Fiscal
Responsibility Act?

Governor: As a country, we do not have the track record of sticking to fiscal targets and that creates a bit of uncertainty.
We usually get this cloud of uncertainty around election years and that the authorities are fairly committed this
time around to ensure that that does not happen. We would need three or four more election years where we go
through the cycle with the fiscal intact in order to gain credibility from investors about fiscal policy.

I can only assure you that the authorities are committed to ensure that we go through this election cycle without
that sort of spill over. At 4.7 per cent of GDP, we are quite close to the five per cent ceiling on the target. But that
is the commitment and we expect that the fiscal authorities will stick to it. The statement of the Monetary Policy
Commitee said that given the time left to the end of this year, a lot of the effort would have to be on expenditure
rationalization. It makes the work easier when you focus on identifying your priorities in terms of spending because
the revenue part of it is difficult to increase over a relatively short time.
In 2020, expenditure profile would have to be re-examined to identify the important priorities to stay within the
revenue inflows, and I know that this exercise has been done. Prior to the 2020 Budget, all the major stakeholders
went for a retreat to do this type of reprioritization and therefore I am confident that we would stick to the set
targets.

tBE

16 The Business Executive

The Business Executive 17

Banking

Pcloesatn-f-iunpanrecfiaolrmsescotourtlook

We publish extracts of a speech on the post-financial sector reforms
delivered by Dr. Ernest Addison, the Governor of the Bank of Ghana, at
the 71st annual New Year School and Conference held on 14th January,
2020 at the University of Ghana, Legon.

Bank of Ghana

Allow me to turn attention to the various (i) Enhancements to the Regulatory Regime entire financial system; that bank and
post-clean-up reforms the Bank of for Banks and SDIs: Enhancements of SDI Boards are composed of persons
Ghana has undertaken to address the our regulatory regime is key to closing the that understand their duties as directors
key causes of the systemic failures regulatory gaps that some banks and SDIs of financial institutions, are capable
that took place, and to address what exploited leading to their ultimate demise. of exercising strong and independent
we saw as overall risks to the stability of the oversight, and are able to ensure that
industry. To help address the underlying causes of the interests of all relevant stakeholders
Madam Chairperson, our reform approach has the failures of banks and SDIs, the Bank of are protected; that banks and SDIs have
been three-pronged, involving: Ghana has introduced a number of rules key management personnel that have
(such as the Corporate Governance Directive adequate qualifications and experience
(i) Enhancements to the regulatory regime; and the Fit and Proper Person Directive) to and integrity to effectively manage these
ensure that shareholders of banks and SDIs institutions ; and that banks fully embed
(ii) Sharpening the Bank’s monitoring, do not only have the requisite amounts compliance with regulatory requirements
supervision and enforcement tools; and of capital, but that they also are of the and ethical standards as part of their
caliber, and have the integrity to exercise overall risk management frameworks, with
(iii) Enhancing the capacity and ethical culture control over these institutions primarily in compliance officers and Boards ensuring
of Bank of Ghana’s supervisory departments the interest of depositors, and other key that compliance is prioritized.
and that of the industry. Let me expand on stakeholders including the stability of the
these three components of our post-clean-up
reform initiatives. 18 The Business Executive

Banking

We have also introduced a new Capital (iii) Enhancing the capacity and ethical culture We have also deepened cooperation
Requirement Directive under the Basel II/III of Bank of Ghana’s Supervisory Departments: with key stakeholders to enhance our
framework for regulating banks to ensure that We have increased the budgetary resources supervisory efforts. Together with other
banks set aside adequate capital to cover available to our Departments that regulate financial sector regulators under the
unexpected losses, so they are more resilient and supervise the financial sector. Secondly, auspices of the Financial Stability Council
to capital shocks. we have increased the staff strength of recently established by the President, we
our Banking Supervision, Other Financial have strengthened monitoring of overall
In addition to these rules, a number of other Institutions Supervision, and Financial Stability risks to the financial system, while the
rules are in the process of being finalized Departments to enhance their capacity, Bank is also ensuring that it strengthens
for consultation with the industry. These will drawing on additional skills in the Bank of supervisory cooperation with external
among other things: Ghana as well as from the private sector. supervisory authorities in respect of
banks operating in Ghana but with foreign
(a) Strengthen the risk management Thirdly, we have commenced the redesign of parents or affiliate companies.
requirements for banks and SDIs; training programs for staff of our Supervision
Departments, to further enhance the quality The recent launch of the Ghana Deposit
(b) Introduce more transparency in of policy development, examinations, and Protection Scheme is another feature
conglomerate or financial group structures to reporting on regulated institutions. In addition of a more resilient financial safety
prevent the abuses of banking affiliates that to critical training and technical assistance net for Ghana. The Ghana Deposit
were witnessed in the crisis; provided by the IMF, World Bank, foreign Protection Corporation (GDPC) is now
regulatory authorities, among others, the fully operational, with all banks, savings,
(c) Strengthen the emergency liquidity Bank of Ghana is designing a more structured and loans companies, finance houses,
support framework to remove opportunities standing training program to retool its microfinance companies, and rural and
for abuse; supervisory staff to promote higher standards community banks currently admitted as
of professionalism and ethical behavior. members of the scheme. Initial premiums
(d) Remove ambiguities and clarify the paid by these member-institutions and
boundaries of the mandate of the SDI sector The key objective here is to ensure that our subsequent annual premiums that will
so that institutions stay within the remit of teams are better able to identify early warning be paid will be invested by the GDPC
their licenses and do not take on risks for signs, enforce regulatory requirements and and used to pay depositors of these
which they do not have adequate capital and ensure that prompt corrective action is taken institutions in the event they fail in future.
risk management systems to support; and (e) by banks and SDIs to help reduce the risk of
address weaknesses in business models of failure. Madam Chairperson, our mandate to
the SDI sector. promote the stability of Ghana’s financial
A few of the initiatives system involves a dynamic process of
(ii) Sharpening our monitoring, supervision constantly reviewing our regulatory and
and enforcement tools: In addition to new Madam Chairperson, these are but a few supervisory framework and tools to
rules of the game, we have introduced of the initiatives the Bank of Ghana has ensure that they are able to help us deliver
measures to ensure that the main instruments undertaken under my leadership over the last on the mandate.
used in enforcing our rules are sharpened. three years. With the objective of promoting
Specifically, (a) we have revamped our the overall resilience of the banking sector, and State of the banks
structures and procedures for licensing with beyond that to promote the banking sector’s
more thorough due diligence and capital effectiveness in supporting inclusive and I have attempted to recount the state
verification processes; (b) introduced an sustainable economic growth, we have also of the banks and SDI sector which we
enhanced process for making new rules embarked on a number of other reforms. inherited when we took office almost
which involve a more structured stakeholder three years ago, with a state of affairs
consultation process to transparency in the These include (1) new rules to promote Cyber that would later be characterized as
policy development process and promote and Information Security; (ii) enforcement perhaps the worst financial sector crisis
smooth implementation of new rules; of NPL write-off policy to ensure that banks the country has ever experienced.
and (c) introduced enhanced processes fully account for and absorb losses incurred What was more worrying was that this
for examination (on-site and off-site) of from loans they grant that they are unable happened a decade after the global
our regulated institutions, increased the to recover within specified time periods; (iii) financial crisis from which it appeared
frequency of on-site examinations, and new policy initiatives to promote lending to the country had learnt no lessons about
strengthened accountability for supervisory SMEs by earmarking 2 percentage points the consequences of poor regulation and
follow-up of examination findings. of primary reserved kept by banks with the supervision of financial institutions that
Bank of Ghana for lending to SMEs, to help are often prone to greed and excessive
State-of-the-art increase the availability of credit to the private risk-taking at the expense of clients and
surveillance sector and at affordable rates; (iv) launch of sometimes ultimately taxpayers.
the sustainable banking principles by which
We have also recently invested in a new banks in Ghana will conduct their business Madam Chairperson, let me assure you
state-of-the-art surveillance software and to promote responsible and environmental and the good people of Ghana that the
its development is almost complete. This and social practices that inure to the benefit Bank of Ghana under my leadership,
new electronic surveillance system will of the economy and communities otherwise and hopefully long thereafter, will uphold
not only help to capture supervisory data at risk; and (v) continuous regulatory policy the highest standards in the regulation
from regulated institutions more accurately enhancements to promote more innovation and supervision of financial institutions
and help prevent the high incidence of in the financial system through appropriately- entrusted to us by law, and we will not fail
misreporting we witnessed with the failed regulated technologies to drive new savings, the people. We count on the support of all
institutions, but it will also enhance the credit, and payment products and services stakeholders as we focus on delivering on
analytical capacity of our supervision teams that promote efficient, convenient, and our mandate.
and help with more effective reporting of inclusive financial services.
supervisory concerns to management of the tBE
Bank of Ghana for appropriate action to be
taken.

The Business Executive 19

Agriculture

Can the Ghana Commodity
Exchange be a game
changer in agricultural
economics?

By Yaw Ohemeng Kyei

F armers in Ghana have three cardinal Access to credit has been relatively solved Operates under three
challenges: Access to warehouse, because once grains are deposited at phases
access to funding and access to the warehouses, farmers are issued with
market. These problems have been warehouse receipts which can be used The GCX operates under three phases.
relatively resolved with the establishment to access loans from financial institutions The first stage is where it creates access
of the Ghana Commodity Exchange (GCX) with the deposited commodities used as to high quality value access using a trading
which commenced operations in November collateral. GCX has a team of brokers who platform which is designed to have brokers
2018. sell deposited commodities at reasonable and traders to place bids to buy or offer for
prices; Hence the elimination of marketing sale listed commodities.
Industry has one cardinal problem in challenges.
Ghana: Access to quality and consistent The second stage is the warehouse receipt
raw materials. It is on record that lack of The GCX commenced with trade in maize system. Under this system, farmers will be
consistent raw materials caused the collapse but it can now boost of trade in four allowed to store their products in certified
of the Komenda sugar factory and several commodities: Both white and yellow maize, warehouses of the GCX. The warehouses
cashew processing factories. soybeans, sorghum, and sesame. are equipped to receive, clean, dry, grade,
re-bag and weigh grains into standard
The GCX begun with one warehouse in The commodity exchange is an intermediary bag, sizes, store the grain, undertake
Kumasi. Now, it has warehouses in Tamale, platform that seeks to facilitate and improve regular fumigation and de-infestation,
Ejura, Wa, Sandama, Kintampo and Afram trade. It also seeks to bring buyers and stock management, risk management,
Plains. Farmers of listed commodities can sellers of agricultural commodities together auditing, delivery and meet other fiduciary
deposit their harvested products at these on a single platform. It also seeks to decrease requirements until the grains get to the final
warehouses. Hence the elimination of the transaction cost, mitigate information consumer.
problem of warehouses. asymmetry and govern contractual relations
between market participants.

20 The Business Executive

Agriculture

There are storage facilities that meet the Farmers now need not worry about Ethiopia’s commodity exchange trading
required standards in infrastructure and transportation to retailers or market volume hit $1.4 billion in 2012. On 11th
equipment. Management have the right to queens, actual price of farm products or February 2011, the 1000th day of the
store goods of third parties by way of safe complex litigation that may arise as a result Ethiopian commodity exchange, it achieved
custody. The warehouse is insured, thus of non-conformity to standards. This is US$1 billion in trade and zero default. The
risk has been transferred to a third party. because trading at the GCX is on electronic Ghana Stock Exchange has volume of
Officials from the Ghana Standards Authority platform, and prices are determined by GHC4.7 billion since its inception. History
check the products to determine if they meet forces of demand and supply. Disputes tells us that in the 1990s countries like
international standards. Thus quality cannot arising from the interaction are settled Zambia, Zimbabwe, Uganda and Kenya
be compromised. through arbitration. had stock exchanges but those exchanges
collapsed due to reasons ranging from
In addition to that, at the warehouse, products Lack of collateral government intervention to limiting trading
are graded and marked to make it possible volumes. Those set up in Zimbabwe and
to trace the source. Farmers who prior to the According to the Food and Agricultural Zambia collapsed due to price spikes and
GCX did not have access to finance can use Organization (FAO), lack of collateral in the government intervention. Those set up
the receipt to access finance at GCX partner form of property or main employment has in Uganda and Kenya collapsed due to
banks at a competitive interest rate. been the main factor frustrating access limiting trading volumes. If Ghana does not
to rural credit by small scale farmers. The want history to repeat itself, then it must try
Farmers and traders and partner financial share of agriculture to loan in the portfolio as much as possible to limit government
institutions are informed about price trends of commercial banks hovers around 4.3% intervention in the GCX. It must fashion out
in order to make good marketing decisions to 6.1% though majority of the people polices to increase trading volumes.
and for financial institutions to determine the derive their livelihood directly or indirectly
value of the collateral. Farmers often cut off from the sector. On the supply side, A potential setback
from formal financial sector can benefit from banks lament the bleak history of default
rising prices and demand; able to store their of agricultural subsidized loans, lack of A potential setback to the commodities
products safely and sell it when prices are technical knowledge on risk assessment exchange is the activities of speculators.
higher. In a nutshell, the warehouse receipt and issues of management deficit on Speculative activities, if not checked, can
system can assist the farmer to enlarge the part of agricultural managers. The adulterate the efficiency of the exchange.
markets; to facilitate credit guarantee; and to government tried to stymie the lack of Indeed, experts suggest that speculation
provide collateral finance. interest of the banks in agriculture with the was the single most important factor in the
establishment of Agricultural Development 2008 price bubble. The FAO insists that
Integrated marketing Bank (ADB) in the mid-1960s. The ADB increased participation by non-commercial
system however recorded low repayment which actors such as index funds, swaps, dealers
resulted in a lower lending share of 29% to and money managers in financial markets
The final stage is the integrated marketing agriculture in 2010. probably acted to amplify short term price
system. At this stage, prices information is swing.
made available to traders and brokers and The complex funding of the agricultural
other interest groups in order to facilitate sector has been eradicated by the GCX The successful trading of the GCX was due
good decision making. Critical guidelines with the operations of the warehouse to a single product: Maize. Again, learning
and rigorous IT infrastructure are put in place receipt system, banks can now confidently from history the Ethiopian Commodity
to ensure transparency and prevent abuses. give loans to farmers who have their Exchange commenced because of the
products at the warehouses because of irksome trade in grains in Ethiopia. The
Commodity exchanges have been with the assurance of the right quantity, quality food price crisis that swept across the
humankind since the early part of the and availability of insurance. Technically, world pushed the grain prices on and off
17th century. It was widely practiced in the GCX has removed the risk from the the exchange by 200% and nearly brought
Amsterdam and Osaka. Little is known agricultural sector. the activities of the exchange to a halt. That
about the success of commodity exchanges forced the exchange to add more products
in1695 and 1730 but it is believed that most The writer like coffee and sesame seed which both
of them collapsed after the Second World now dominate trade at the exchange. The
War. Various interventions by governments GCX must therefore develop and add more
subsequently led to the collapse of products with assured liquidity.
commodity exchanges in China, Egypt and
India. The GCX has the potential to assist Ghana
to achieve Sustainable Development Goals
Ghana’s agricultural sector is facing 1, 2 and 10 of no poverty, zero hunger and
numerous challenges. Despite the reduced inequality respectively.
introduction of producer support program
such as the fertilizer subsidy, buffer stock On the trading sessions on the floor of the
program and import duties to protect the GCX, there has been no default, no litigation,
Ghanaian producer, farmers still receive and the satisfaction rate of industry is
lower prices than they could have received remarkable. ‘A good start is half a success,’
if the policy and market distortions were hence the way the GCX has begun, there is
removed from 2005 to 2010. no doubt that it will be the best commodity
exchange in Africa.
This is largely due to inefficiencies in
commodity value chains; high processing, The writer is an Accra-based financial analyst.
transport and handling costs; various local
fees/levies; and illicit taxes at road check tBE
points which depress producer price. All
these challenges have been taken care of by
the commodity exchange.

The Business Executive 21

Pictorial

Induction of members of the Corporate
Ghana Hall of Fame held on 22nd January,
2020 at Villa Monticello Hotel, Roman
Ridge, Accra

22 The Business Executive

Pictorial

The Business Executive 23

+233-302 237 906
+233-054 143 1043

[email protected] www.ddpoutdoor.com

2 Nshonna Tata Lane Tesano Eas2t,4Off J.AT.hKeuBffuosuinreAssveEx, ePc.utOiv.eBox AN 5504, Accra, Ghana
24 The Business Executive

tBorwaTanotcpdhs

in Ghana in 2020

SpecGihaal nSauipapnleCmoemnpt aonnieSselect

The Business Executive 25
The Business Executive 25

Brands to Watch 2020

SSNIT administering
national pensions
efficiently

The Social Security and National and process and pay benefits to eligible all operational activities and reports to the
Insurance Trust (SSNIT) is a members and nominated dependents. The General Manager, Operations. There are
statutory public body charged core values of SSNIT are professionalism, eight Area Offices, 50 Branches, 23 Day
under the National Pensions Act, leadership, integrity, customer focus, Offices and an Agency spread throughout
2008 (Act 766 ) with the administration commitment, innovative and teamwork. the country.
of Ghana’s First Tier of the Three-Tier
Pension Scheme. The Trust is currently The Board of Trustees The Branch activities include: Registration
the largest non-bank financial institution of employers and employees; collection
in Ghana. The Board of Trustees are responsible and management of data on employers and
The primary responsibility of the Trust is to for the policy direction of SSNIT. The employees; inspection of establishments
replace part of lost income of workers in Trustees are made up of representation and collection of contributions; and
Ghana due to Old Age, Invalidity or Death from government, employers and workers distribution of contributor’s statement of
of a member where dependents receive appointed by the President in accordance accounts. The others are assembling,
lump sum payment. It is also responsible with Article 70 of the 1992 Constitution. processing and vetting of claim documents
for the payment of Emigration benefit to as well as payment of benefits; processing
a non-Ghanaian member who is leaving The board is constituted as follows: A Student Loan Repayment; and public
Ghana permanently. Chairperson; two persons nominated by education on SSNIT Operations.
the President, at least one of whom is a
The Pension Scheme as administered woman; two representatives of Employers’ The Area Offices exercise supervision over
by SSNIT has a registered membership Associations; four representatives of the branches and carry out the following
of over 1,471, 564 million as at June Organised Labor; and one representative activities: Co-ordinate operational activities
2018 with over 190,079 pensioners who of the Ministry responsible for Finance not between the branches and Operations
regularly receive their monthly pensions below the rank of a Director. The others are Coordinator at the Head Office; institute
from SSNIT. one representative of the Security Services legal action against defaulting employers;
who is not a member of the Ghana Armed collate accounting returns and reports from
The Trust was established in 1972 under Forces; one representative of the National the branches under them; and organize
NRCD 127 to administer the National Pensioners’ Association; and the Director public education on SSNIT operations
Social Security Scheme. Prior to 1972, General of SSNIT.
the Scheme was administered jointly by The basic national pension scheme (Tier-1)
the then Department of Pensions and Administration Act 766 makes provision for a contributory
the State Insurance Corporation. The 3-Tier Pension Scheme and the
Trust administered the Social Security The day-to-day administration of the Trust establishment of a National Pensions
Scheme as a Provident Fund Scheme is headed by the Director General assisted Regulatory Authority (NPRA) to oversee
until 1991 when it was converted to a by three Deputy Director Generals (DDGs). the administration and management of the
Social Insurance Pension Scheme then There are seven General Managers in Pension Schemes. Under the Act, SSNIT is
governed by the PNDC law 247. The charge of Investment and Development to manage the basic National Social Security
scheme in Ghana was reformed by an Act (IDD), General Counsel (GC), Finance, Scheme referred to as the 1st Tier.
of Parliament, Act 766 of 2008 and was Operations, Administration and Human
implemented in January 2010 to replace Resources (ADMIN/HR), Management
all pension schemes in Ghana including Information Systems (MIS) and Benefits.
Cap 30. In 2014, the National Pensions Other responsibilities under the Directorate
(Amendment) Act 883 was passed to include that of the Chief Actuary, Chief
amend portions of Act 766. Internal Auditor, Company Secretary and
Vision and mission Corporate Affairs Manager.

The vision of SSNIT is “To be the model How SSNIT operates
for the administration of Social Protection
Schemes in Africa and beyond”. Its SSNIT has a decentralized operational
mission to “To provide income security system made up of the Area, Branch, Day
for workers in Ghana through excellent Offices and an Agency. An Operations
business practices”. Coordinator at the Head Office co-ordinates

The core functions of SSNIT are to
register employers and workers; collect
contributions; manage records on
members; invest the funds of the Scheme;

26 The Business Executive

The Business Executive 27

Brands to Watch 2020

GWCL provides
sufficient and safe water
satisfactorily

Ghana Water Company Limited Ing. Dr. Clifford Braimah, MD, Commercial Services
(GWCL), one of the best utility Ghana Water Company Ltd.
companies in Africa, is fully • Management of applications for
owned by the state. GWCL is They are supported by Unit Heads (Line new service connections, new
responsible for the supply of potable water Managers) and District Managers. At the subscriptions and customers’ files;
to all urban communities in Ghana. district level, the District Managers supervise
and control the various districts of GWCL • Definition and establishment of
GWCL currently operates 90 urban water throughout country. commercial procedures;
supply systems throughout the country.
Average production is about 875,000m³ per Mandate and • Signing of contracts with customers
day (192 million gallons per day). Present Responsibilities for the supply of potable water;
potable water demand is estimated at
1,410,234m³ per day (310 million gallons Responsibilities of GWCL, in general, cover • Issuance of water bills to customers;
per day). Urban water supply coverage is, the following:
therefore, about 70.1%. • Revenue collection from customers;
• Abstraction, treatment and supply of
With a staff strength of about 5,000, GWCL potable water to urban communities; • Disconnection and/or prosecution of
serves 675,761 customers, 77% of which customers for non-payment of water
are metered water consumers and 23% • Planning and developing water supply bills and other offences; and
unmetered customers. systems in urban communities in
Ghana; • dentification and removal or
Governance Structure regularization of illegal connections.
• Conducting research and engineering
The Ministry of Sanitation and Water surveys relative to water and related Subsidiary of GWCL
Resources is responsible for formulating subjects;
water supply policies, overseeing the Management of GWCL deliberated on the
operations of GWCL, sourcing for funding • Contracting out the design, idea of producing bottled water following
from external support agencies and construction, rehabilitation and the reorganization of GWCL, i.e. the
coordinating sector investment plans. Under expansion of existing as well as new merging of GWCL and Ghana Urban Water
the general direction of the Ministry, GWCL water supply infrastructure; Limited (GUWL) in 2013.
is governed by an eleven-member Board of
Directors which has overall responsibility for • The provision of quality service delivery The Special Business Unit (SBU) was
the setting of sector policies and the control to consumers in respect of quantity established and charged, among other
of corporate programs. and quality of water supplied; and things, to help set up a water bottling
plant. In 2015, the Business Development
The day-to-day affairs of the Company are • Periodic submission of proposals to the Unit (BDU) replaced the SBU with the sole
managed by the Managing Director and Public Utility Regulatory Commission purpose of developing a water packaging
three Deputy Managing Directors, one in (PURC) for tariff review. business for GWCL.
charge of Finance and Administration, the
other in charge of Operations and another After going through the necessary
in charge of Special Projects. tendering processes, the contract was
awarded for the construction of the water
These four lead managers are assisted by bottling plant which began in November
19 Chief Managers who head the various 2017. Commercial productions and sales
Departments at GWCL’s Head Office. These started in December 2018. The packaged
Departments are follows: Project Planning water unit is now a subsidiary of GWCL.
& Development, Human Resources &
Administrative Services, Legal Services, To be a good corporate citizen, GWCL
Public Relations & Communications, has undertaken several corporate social
Corporate Planning, Technology & responsibility activities. Under the able
Innovation, Finance, Materials, Commercial, leadership of the current Management,
Audit, Water Resources, Water Quality GWCL is a unique corporate brand which
Assurance, Lands & Estates and Business will continue provide sufficient and safe
Development. water and related products and services
timely to the pleasure of it numerous
There are 15 Regional Chief Managers customers in 2020 and the years ahead.
responsible for the management of the
regions.

2288 TThhee BBuussiinneessss EExxeeccuuttiivvee

The Business Executive 29

Brands to Watch 2020

ADB still champions Ghana’s
agricultural development

Since its establishment in 1965, Core values of ADB ADB’s ability to support many social
the Agricultural Development projects plays a significant role in building
Bank (ADB) has prided itself with The values of ADB are: customer loyalty and it would continue
being an institution that provides to support the less privileged and other
financial intermediation for the development Aggressiveness - We shall be fearless, just causes while continuing to adhere to
and modernization of Ghana’s agricultural distinctive ethical values. For excellence in
sector and offering products and services bold, energetic and enterprising in pursuing corporate social responsibility (CSR), ADB
that cater to the financial needs of the actions or decisions in the market place that won the Ghana Banking Award’s Most
public. will ensure that we are competitive, satisfy Socially Responsible Bank twice in a roll.
our customers and achieve sustainable
“Our success story to date is hinged on growth. History of ADB
the rich experience, professionalism and
reliability of a great team underpinned by Accountability - We will perform ADB was established by Act 286 in 1965
the implementation of a business model as the Agricultural Credit and Cooperative
designed to achieve total customer in a manner at all times that makes us Bank. National Liberation Council Decree
satisfaction. We therefore pledge accountable, responsible, and answerable to 182 changed that name to the Agricultural
our utmost support for the nation’s our customers, partners, leaders, and other Development Bank and amended key
development agenda and will continue to employees as well as external stakeholders. sections of the original Act 286. In 1990,
remain resolute in our quest to be a Bank the Bank became more diversified and
marked for excellence,” Dr. John Kofi Customer Service Excellence - added international banking and trade
Mensah, Managing Director of ADB, states services to its growing product portfolio.
in a message on the Bank’s website. We will enable our customers to have an Then it became the principal agent in
efficient, productive, and enjoyable banking inward money transfer and remittances
ADB is a universal bank which offers a full experience by providing customers with into the country. The Bank obtained the
range of banking products and services in what they want when they need it. Universal Banking license and broadened
Consumer, Corporate, Parastatals/Public its bouquet of services offerings.
Sector, SMEs, Agriculture, Trade and Creativity - We create the environment
E-Banking services. Its business focus is Under the current management, the Bank
universal banking with a developmental that encourages our employees to generate went through a restructuring program
focus on Agriculture and more. a new idea and / or rethink an old idea and to reposition itself by balancing market
develop the idea into practical implementable orientation with a development focus on
The Bank successfully listed on the Ghana products, processes, or solutions. agriculture. In 2011, the branch network
Stock Exchange (GSE) on 20th December, grew from 55 to the present 78 branches
2016. The current ownership structure of Teamwork - We build effective teams across the country with fully networked
the Bank is: Financial Investment Trust - branches running on a robust ICT platform.
60.50%; Government of Ghana - 32.30%; with members who have complimentary At the same time, the Bank introduced
and Retail investors and ADB staff – 7.20%. competencies, hold themselves mutually the ADB Visa Classic Card, allowing card
accountable, exhibit effective communication holders to transact business anywhere in
The vision of ADB aims to make it be and continually challenge each other to strive the world.
among the top-tier performing banks in for excellence.
Ghana, balancing market orientation with ADB won the coveted Chartered Institute
a development focus on agriculture and Social investments of Marketing (CIMG) Bank of the Year
more. The mission of ADB is committed Award twice on the trot in 2010 and 2011
to growing a strong customer-centric ADB’s continuous support for the many and more than a dozen international
Bank that provides profitable and social causes is hinged on the belief that silverwares, prominent among them, the
diversified financial services for a sustained by committing some funds to worthy International Star Award for Quality.
contribution to agricultural development causes, the Bank helps build a ‘feel good’
and wealth creation. atmosphere among not only members of
the communities in which it operates, but
also among its workforce who feel proud
knowing that they are helping contribute to
community empowerment and growth.

30 The Business Executive

The Business Executive 31

Brands to Watch 2020

BUKA is a soul
food restaurant

Buka, as it is popularly referred to, was set up to cater especially for the middle-
income business community and the discerning international traveler. It
proudly offers authentic traditional African cuisine.
Buka Restaurant is an evocative description of the excitement and lifestyle of the
African landscape. The calm and scenic setting sets the tone, and a taste of our
meals completes the enthralling Buka culinary experience.
The journey of Buka began in 2003 with the intent of building a formidable African
cuisine in Osu, a little cosmopolitan community in Accra famed for its glorious and
expensive nightlife. After 15 years that seed was planted not with a diploma or
degree in catering but with passion and a steely determination to succeed, and
has turned into a gorgeous brand – the Buka Restaurant, which is satisfying the
taste and bellies of many men, women and children
With a paltry ¢100 for ingredients in Agbogloshie, Accra, Ms. Audrey Selormey
started the restaurant. It was neither a simple decision to make nor a career choice
to pursue at the time. While cooking was still a hobby adored by Ms. Selormey,
the main brain behind Buka, the competing interests and flamboyant thoughts
of pursuing white collar jobs ,which were supposedly more dignifying, were the
thorns that held back a dream, a brilliant brand for many years.
In those years in the wilderness, the most adorable, beautiful young lady who was
still trying to discover herself made mistakes, sold many things, including yoghurt,
prepaid cards, and baby stuff. Her years on set as the diva, host of Today’s Woman
on TV were certainly not part of the mistakes in the wilderness. It was certainly a
ray of light in the alley of darkness until she was conceived a simple idea from a
friend 15 years ago. She was 38 at the time
She left the fame and glories that came with hosting the TV show and went behind
the scenes into African cuisines, fell in love again with her first love and birthed a
new brand. “BUKA is a soul food restaurant. Everything we prepare is from the
heart,” Ms. Selormey, the Manager at BUKA, said.

32 The Business Executive

BUKA
IS HOME

THE BUKA RESTAURANT IS A FOOD COSMOPOLIS
WHERE THE RICHNESS OF DIFFERENT
WEST AFRICAN MEALS UNITE

Buka is home

The aromas that waft from the kitchen to you keep you in
suspense as to what to expect. At the Buka you can only expect
one thing: to be amazed. As a guest, you’re taken care of with
as much detail as a grandmother happy to have her
grandchildren home. An enrapturing melting pot of West
African food culture, found on a narrow street in Osu, Accra;
where old buildings clash with new, and happiness can be
found behind the walls of a restaurant partially hidden by trees.

A Buka Special

There is an intriguing cunningness to one of Buka’s many
specialties, the Nana Light Soup. A certain lip-smacking
deception that takes over the palate as it takes you on a
protein tour from juicy sh to snails, succulent crabs and other
meaty amusements. The light richness of the soup, and how
each ingredient relinquishes individuality to form a balanced

taste, will have you slurping to the very last drop.

+233 (0) 24 484 2464 | (0) 302 782 953

[email protected] www.bukarestaurant.com

Brands to Watch 2020

Pentecost University College:
aThtteenadwianrsdt-itwuitnionning must-

Pentecost University College (PUC) is resourceful thinking, which in turn shall be In collaboration with Buckinghamshire New
an award-winning private university the basis for continuing growth in knowledge. University in the United Kingdom (UK), the
located at Sowutuom, Accra, Ghana’s The faculties are: Faculty of Business Graduate School offers MSc. International
capital city. It is one of the must-attend Administration, Faculty of Engineering Accounting and Finance. Also, in collaboration
universities in the country, having received Science and Computing, School of Theology, with the University of Salford, the School
accreditation from the National Accreditation Mission and Leadership (STML) and Faculty organizes MSc. Accounting and Finance,
Board (NAB) in 1994. It was established in of Health and Allied Sciences. Scholarships MSc. Management, MSc. Procurement,
March 2003 by the Church of Pentecost in are available for qualified students. Logistics and Supply Chain Management
Ghana. and MSc. Human Resource Management &
These faculties/schools offer undergraduate Development.
Mission and postgraduate programs. The first degree
programs include B.A. Communication The College of Foundation and Professional
To develop work-ready graduates with Studies, B.A. Theology and Mission, B.Sc. Studies
integrity and the fear of God while creating Business Administration (Accounting),
and disseminating new knowledge through B.Sc. Business Administration (Banking & The College of Foundation and Professional
research and innovation in partnership with Finance) and B.Sc. Business Administration Studies (COFOPS) collaborate with the
industry, commerce and the public sector. (Corporate & Business Development Association of Business Executives (ABE-UK),
Studies). Chartered Institute of Marketing (CIM-UK),
Vision Institute of Chartered Accountants Ghana,
The other programs are B.Sc. Business (ICAG), Chartered Institute of Logistic and
To become a distinguished teaching and Transport (CILT-UK), Institute of Commercial
research-oriented Christian University known Administration (Human Resource Management (ICM), English Proficiency for
for excellence in theology, business, science Francophone Countries and Remedial for
and technology education and scholarship. Management), B.Sc. Business Senior High School students to prepare
persons for further education to ensure
Core Values Administration (Insurance with Actuarial continuity.

The core values of Pentecost University College Science), B.Sc. Business Administration Administrative structure
are:
Godliness – we uphold to develop into our staff (Logistics and Supply Chain Management), The Chairman of the Church of Pentecost
and students, faith in God through Jesus Christ is also the Chancellor of the university.
as Lord and Savior, and the Bible as the basis B.Sc. Business Administration (Marketing), The Rector is the highest academic and
of all rules and conduct. administrative head of the university. PUC’s
B.Sc. Construction Technology and Administration is essential to supporting the
Honesty – we uphold to remain transparent, operations and mission of the university.
open and accountable to ourselves, and to Engineering Management and B.Sc. Spanning several offices, they deal with a
demonstrate integrity of heart and credibility in diverse range of issues including, human
all actions. Information Technology. resources, financial activities and student
affairs. The Advancement Office, which
Diligence – we uphold to demonstrate utmost The rest are B.Sc. Midwifery, B.Sc. Nursing, operates under the Office of the Rector, is an
commitment and dedication in all we do, with B.Sc. Physician Assistantship Studies – innovation of the Management of PUC.
all our strength, knowledge and expertise. Medical, B.Sc. Quantity Surveying and
Building Economics and Bachelor of The International Students’ Office provides
Curiosity – we uphold to positively impact Commerce (Accounting with Computing). care and support for its partners and
our generation and posterity by promoting promotes and coordinates all PUC’s external
ingenuity and discovery-oriented research. The Graduate School relations, staff and student exchange
Innovation and creativity – we uphold to programs. The Chaplaincy, Counselling Unit
demonstrate a strong resolve to positively The Graduate School is at the center of PUC’s and College Assembly also facilitates co-
challenge the status quo. mission for intellectual development, creative curricular activities. PUC has a well-equipped
innovation and academic excellence, aiming library and residential halls.
Diversity – we promote friendliness, respect for at providing the cutting-edge knowledge
diversity, and equality for all. and skills in research and scholarly enquiry. For further information, contact:
With affiliation to the University of Ghana +233283094284/233302417057/8 or visit
Faculties/schools and and University of Cape Coast, the Graduate https://pentvars.edu.gh/
programs School runs the following programs:
MCom Taxation, MCom Microfinance,
Pentecost University College has four MCom Applied Accounting, MBA Finance,
academic faculties/schools which provide a MBA Marketing, MBA Entrepreneurship,
solid foundation and experience of learning MBA Project Management, MBA Human
to ensure that students develop creative, Resource Management, MBA Logistics and
Supply Chain Management, MA Pentecostal
Studies and MSc. Health Planning, Policy
and Management.

34 The Business Executive

The Business Executive 35

Brands to Watch 2020

Japan Motors markets
unique vehicle brands

K almoni and Sons, predecessors Multi-talented staff CIMG Hall of Fame (Retained) Motor firm;
of Japan Motors Trading CIMG Legacy brand; Auto Company of
Company Limited (JMTC), were To achieve its vision JMTC’s 370 the Year by the Ghana Business Awards;
the first to import Japanese multi-talented staff are equipped with Automobile Dealership of the Year at the
made vehicles to Ghana in 1958. leadership and technical skills at all levels Chamber Business Awards; Outstanding
in the organization and through open Automobile Company of the Year; and
It grew out of a family Transport and cultures. The staff is encouraged to be Ghana Club 100 Member.
Trading business. Kalmoni & Sons innovative, effective and competent in
started in 1920’s by the late Salem discharging their duties. In 2017, Japan Motors was the CIMG
Kalmoni and incorporated in 1965. Hall of Fame (New Entrant) Motor Firm
Corporate Social of the Year 2017; Premium Quality
Sales Responsibility Automotive Service of the Year; Auto
Company of the Year; Automobile
NISSAN was the N0. 1 vehicle brand Japan Motors has a strong commitment Dealership of the Year and 2017/8
in Ghana in 2015 with a market share to its communities. Over the years, the Ghana Club 100 Member.
of 26% of new vehicle sales, according company has supported many programs
to the Ghana Automobile Distributers in the areas of Health, Sports, Education In 2016, Japan Motors became the
Association. JMTC has consistently been and Security. CIMG Motor Firm of the year; Best
in the top two position, over the last thirty National Sales Company of the Year;
years. The full line up of vehicles include: Partnership NISSAN Sales Achievement Award (New
Pick-up truck, Sports Utility vehicles vehicle sales); Nissan Best Customer
(SUVs) Commercial Vehicles, Buses and Japan Motors is the official distributor of Satisfaction (Aftersales); and a Ghana
Saloon Cars. NISSAN Motors, official sole distributor Club 100 award recipient. In 2015,
of YAMAHA Motor Company, Lassa NISSAN Best Customer Satisfaction
JMTC also distributes YAMAHA Tyres as well as FOTON Trucks in Ghana. (New Vehicle Sales); NISSAN Best
Motorcycles, Marine Engines, Water It is based on this strategic relationship Customer Satisfaction (Aftersales); and
Pump and Generators. The company that support is gained for manufacturer’s CIMG Motor Firm of the Year.
also distributes FOTON Trucks since warranty, technical training; and support
2017. for sales and marketing of its products In 2014, Japan Motors was the CIMG
and services. Japan Motors is currently Motor Firm of the Year, while in 2013 it
After sales service the NISSAN distributor in three won the NISSAN Global Award. In 2012,
neighboring countries, namely Togo, the company was adjudged the Sub-
Japan Motors has award-winning Mali and Senegal. JMTL is responsible Saharan Africa Region-Overall Quality
workshop facilities, and genuine parts/ for promoting the NISSAN brand in Award, and the Sub-Saharan Africa
accessories in all its branches in Ghana. these countries. Region-Sales Achievement Award, while
Japan Motors’ customers can depend became the 2012 CIMG Motor Firm of
on the company for NISSAN accredited Awards the Year.
aftersales service support. Mobile
Service Van is available 24 hours for Japan Motors has received numerous In 2010, Japan Motors was the Best
support, for Service Fleet customers on awards in the motor industry in Ghana NISSAN Sales and Aftersales; and
their site. and Africa. the Sub- Saharan Market. In 2009,
the company was the Best NISSAN
Branches In 2018, the company received the Aftersales; Sub-Saharan Market; and the
CIMG Motor Firm of the Year. In 2008,
National Coverage is of utmost Japan Motors was the CIMG Motor Firm
importance to Japan Motors’ numerous of the Year.
customers, hence it has full service
branches, including workshops and
showrooms at strategic locations in
Accra, Tema, Tamale, Kumasi and
Takoradi.

36 The Business Executive

The Business Executive 37

Brands to Watch 2020

Ethiopian Airlines: Best
in customer-focused
services
Addis Ababa-based Ethiopian
Airlines is the national Ethiopian Airlines’ state-of- the-art flight simulator and
airline of Ethiopia. One of values are safety as an acclaimed, internationally certified
the leading airlines on the its first priority; high maintenance and engineering center)
African continent, Ethiopian performance and ensures this fundamental philosophy.
Airlines serves more than 60 international learning organization
destinations across Africa, Asia, Europe, with continuous Ethiopian Airlines has established one of
the Middle East, and North America, as improvements, the finest pilot and aviation maintenance
well as operating an extensive domestic innovation and training centers in Africa. Whilst it
and international cargo network. Ethiopian knowledge-sharing; provides an unrivalled facility for its
Airlines became a member of Star Alliance recognition and own pilots and technicians it also offers
in December 2011. rewarding employees training to airline personnel from all over
for their performance Africa, the Middle East and Europe.
The vision of Ethiopian Airlines is to and demonstration
become the most competitive and leading of integrity, respect Ethiopian Airlines today has yet taken
aviation group in Africa by providing safe, to others, candor another significant step forward in
market-driven and customer- focused and team work; modernizing its visual image with a new
passenger and cargo transport, aviation acting in an open logo and a new look. The fresh new look
training, flight catering, MRO and ground fashion and be result- keeps faith with the past while, at the
services by 2025. oriented, creative and same time, announces the dawn of a
innovative; adoption new era.
Its mission is to become the leading aviation of zero tolerance to
group in Africa by providing safe and indifference, inefficiency Ethiopian Airlines has won a long chain
reliable passenger and cargo air transport, and bureaucracy, of awards internationally for its superb
aviation training, flight catering, MRO and among others. performance. The almost countless
ground services whose quality and price recognition include the Company of
“value proposition” is always better than passenger services; and cargo and non- the Year by All Africa Business Leaders
its competitors; ensure being an airline scheduled services. The following are the Award; Best Airlines in Africa Award for
of choice to its customers, employer of major categories of owned and leased the 7th Consecutive year; Africa Lease
choice to its employees and an investment aircrafts. The long range passenger Deal of the Year 2018 Award; and Best
of choice to its owner; contribute positively services fleet includes 14- Airbus A350- African Airline at Arabian Travel Awards.
to the socio-economic development of 900XWB; 19- Boeing B787-8; 6- Boeing
Ethiopia in particular and the countries to B787-9; 4- Boeing B777-300ER; 6- Boeing The other awards are SKYTRAX Best
which it operates in general by undertaking B777-200LR; and 6- Boeing B767-300ER. Airline in Africa Award for the second
its corporate social responsibilities and Total fleet on order is 47 aircrafts. time; Airline Reliability Award for the
providing vital global air connectivity. seventh year in a row; and Fastest
The massive investment in training (two Growing International Cargo Airline of
Ethiopian Airlines’ values are safety as thirds of its employees undergo some form the Year.
its first priority; high performance and of training every year) and technology (a
learning organization with continuous The Ethiopian Aviation Academy (EAA)
improvements, innovation and knowledge- has been awarded at the 6th Global
sharing; recognition and rewarding Aviation Training and TRAINAIR PLUS
employees for their performance and symposium for delivering the largest
demonstration of integrity, respect to number of ICAO courses in 2018. The
others, candor and team work; acting in award was received by Ato Solomon
an open fashion and be result-oriented, Debebe, EAA Managing Director, on 4
creative and innovative; adoption of zero _ 6 December 2019 in New Delhi, India.
tolerance to indifference, inefficiency and
bureaucracy, among others. It was formerly Ethiopian Air Lines (EAL)
Inc., a joint venture with American
Ethiopian Airlines operates the Youngest airline, Trans World Airlines (TWA). EAL
Fleet in Africa. The total operating fleet was founded on 21st December, 1945
are 126 aircrafts. These are long range and commenced operations on 8th
passenger services; medium range April, 1946. The first scheduled flight
passenger services; regional and domestic was to Cairo via Asmara in a Douglas
C-47 Skytrain. It has since been wholly
state-owned but has been profitable.

38 The Business Executive

The Business Executive 39

Brands to Watch 2020

Herrada Pratt
Communications
specializes in
offering high-end
visibility

Herrada Africa Group has a number of Blessed S. Agyemang, Founder
subsidiaries with interests in key sectors
of Ghana’s economy. This young and Who is the brain
dynamic group blends the best in the behind the group?
consulting, communication, real estate,
food, health, beauty, transport and other HAIBC guides in planning and Blessed S. Agyemang is the founder of
industries towards delivering value and communicating the brand of individuals the Herrada Africa Group. A Ghanaian
growth to their clients. and businesses and train persons and citizen, Blessed is a consultant who
corporate entities using the contemporary has specialized in the areas of image
Two of the subsidiaries making strides approach of exciting and interactive consulting, personal branding, brand
and becoming brands to watch in 2020 programs in areas that range from image, strategy, international social and
are the Herrada Pratt Communications grooming, dining etiquette to social business etiquette and protocol.
and the Herrada Afrika Image and polishing and business protocol to cross-
Brand Consult (HAIBC). Herrada Pratt cultural training for large companies. The As a successful multifaceted
Communications is a total communication services simplified are Image consulting, entrepreneur and as a corporate African
agency that uses communication as a tool Personal Branding, Etiquette and Protocol woman who continues to rise up the
to enhance organizational and individual and is often personalized to individual or ranks in one of the largest international
performances. company need. oil and gas companies in the world,
Blessed passionately channels her
Herrada Pratt Communications functions These two subsidiaries of the group multifaceted experience, values, ethics
as a full business partner to their clients, that made the brands to watch list offer and network towards achieving the goal
offering Brand Strategy and Consultation, thoughtfully designed and well executed of her clients.
PR and Event Management, Marketing services that can assist individuals and
and Media Relations, among others. Using companies of any size build brand visibility Formally trained and certified in her
state-of-the-art technologies and skillful and support growth and success. niche, Blessed began her career as a
expertise, Herrada Pratt Communications food scientist, and she established the
builds apt brand reputation and offers real The above and more subsidiaries make need to work from inside out even in
solutions to business challenges. the Herrada Africa Group and together relation to matters of clinical dietetics
continues to transform several individuals for a healthier lifestyle and translated
These services offer thoughtfully and corporate entities into award winning this concept to the business world.
designed and well-executed strategic individual brands, profitable businesses After half a decade of experience in the
communications that can help individuals with growth and increased revenue. corporate world, Blessed understood
and companies of any size build brand the importance of image and brand of
visibility and support the growth and individuals and corporate entities in
success of these businesses. all facets of growth, development and
revenue.
As a premier service of its kind, Herrada
Africa Image and Brand Consult (HAIBC) Blessed founded her business entities
brings a fresh and modern perspective to that now stand as a group towards
the industry of image consulting, personal assisting individuals and corporate
branding and etiquette and protocol. entities respectively to high end visibility
HAIBC seeks to help clients effectively and profitability.
communicate who they are as a person
and as a professional by virtue of their
personal brand and image.

40 The Business Executive

The Business Executive 41

Brands to Watch 2020

Nguvu products: Natural
and best for the body

Nguvu Mission: specialized in Trade and International
[in-goo-voo] simply Finance. Her thesis was on the topic:
means ‘strength’. To equip, train and improve living the ‘Fostering International Trade and
Also known as ‘The conditions of cooperative groups in rural Development Through Women-Owned
quality of being a Ghana to provide quality products for the Businesses’. Nguvu Global Limited is the
woman’. Strong, global market. result of her research.
Capable and
Productive - Nguvu. Vision: “During the period of my research, I gained
access and insight into the world of shea
Nguvu SheaCare is an exquisite To increase productivity and economic butter and natural skincare products.
product that is extracted from the nuts growth in Ghana through international Having grown up in Accra, Ghana, I have
of the grand African Shea Tree (Vitellaria trade and sustainable development. always been familiar with the benefits
Paradoxa), and is produced by Nguvu of organic skin and hair products; from
Global Limited. Madam Freditta Apeagyei, the Founder of bathing with ’alata samina’ (African black
Nguvu Global Limited. soap) to smearing my body with ‘nkuto’
Nguvu Sheacare produces a rich and (shea butter) and ordering them in bulk
creamy organic sheabutter which is “With a background in International Affairs when I was away from Ghana. I gained a
well hand-stirred with such care and and Development Studies, I am passionate passion to share this with the world. And as
precision that it melts at the touch of about empowering women for sustainable fate would have it, there is an increasingly
your skin. Nguvu products are 100% development. The idea of starting a shea growing market for organic vegan friendly
natural, and are proudly handmade in butter business came about during the skin and hair care products. Costumers
Tamale in the Northern Region of Ghana. research session of my Master’s thesis are continuously seeking products that
‘Nguvu’ a Swahili word which stands for which expounded on the role women- are paraben free, animal cruelty free, and
‘strength’, or the quality of being strong. owned businesses play in international environmentally sustainable,” Madam
The word represents resilience of most trade and economic development,” says Appeagyei continues with her story of how
rural Ghanaian women who are striving Madam Freditta Apeagyei, the Founder of Nguvu was set up.
to make ends meet. Nguvu Global Limited.
Madam Appeagyei is a social entrepreneur “Demand met supply and voila! Nguvu
As a social enterprise, Nguvu who pursued a Master in International SheaCare was birthed! Nguvu simply
Global Limited believes in fair trade. Affairs at the Graduate Institute of means ‘strength’. I chose that name
The company’s aim is to provide International and Development Studies because I really wanted to have a global
relevant education and training to its in Geneva, Switzerland, where she representation of the caliber of women
cooperative groups which are made who are using our products. So for
up of predominantly impoverished and every shelf that Nguvu sits on, and for
marginalised women. every person that uses our skin and hair
products, therein lies a special piece of
One of Nguvu’s main projects is to strength,” she states conclusively.
build vital infrastructure, including a
factory with a training center. All training On a short term basis, funding provided
is provided by its partner company, will be used to source raw materials and
Agape, which is also based in Tamale. packaging as well as invest in marketing
The women are trained in Shea butter for Nguvu Global Limited,which is currently
and essential oil production, cosmetics trading in the United Kingdom market. The
formulations and meeting international company has three principal products in
standards. This will inevitably boost the the market: Shea butter products, African
productivity and effectiveness of the Black Soap, essential and carrier oils.
employees, consequently contributing The products are sold on a retail and
significantly to meeting international wholesale basis to individuals, stockists
trade standards whilst attaining the and manufacturers.
required Sustainable Development
Goals (SDGs). CONTACT

+233261633414
[email protected]
@nguvusheaercare

42 The Business Executive

The Business Executive 43

Brands to Watch 2020

dUénciqourespFelocriaalli–stlainrgWeeststbAesfrtica

Unique Floral are proud to be Wedding & Events Events Centre
the largest retailer of fresh Planning
and artificial flowers in West The Unique Events Centre hosts
Africa. For over 24 years, the Planning of events by Unique Floral events ranging from weddings,
company has specialized in providing always starts with a sit-down meeting birthday parties, product launches,
an extensive range of beautiful flowers and ends with a standing ovation. fashion shows, themed parties and
and gifts, as well as high-standard The company prides itself with always many more. The centre has several
event planning and decoration in exceeding the expectations of its areas such as the Platinum (Outdoor);
Ghana and surrounding countries. clients by helping in all stages of Celebration Garden (Outdoor); and the
wedding planning: theme, décor, venue Grand Vellas (Indoor).
Unique Floral has created a unique preparation and social or corporate
ambiance for events through floral events. Whatever the occasion, Unique
decor by using both fresh and artificial Floral organizes all details, including
flowers. The company has used its Once the bride and groom decides to creative themes, lavish decoration
specialty in the art of decoration to meet marry, it is the duty of Unique Floral and others tailored to suit clients’
and exceed the expectations of clients. to create the perfect event. Unique needs. The company’s experienced
Be it simple or elegant arrangements, Floral’s wedding planning is always event management team appreciates
traditional or contemporary, for every professional from start to end. The how important perfection is and how
occasion Unique Floral has something company provides an unforgettable stressful it can be to remember every
special to offer. wedding experience in which last detail. To ensure that your event is
everything the yet-to-be couple wants flawless and relaxing, Unique Floral is
The company’s floral arrangements and needs to create memories that always on hand to offer expert advice
always touch the hearts of the clients. last a lifetime are catered for. It helps and oversee the entire process.
For every occasion, its flowers are the in all stages of wedding planning:
perfect way to make someone feel music, photography, wedding theme Deciding upon the best event space
very special. Unique Floral import fresh and decor, venue preparation, pricing, or venue is critical to your event’s
flowers weekly from the exotic gardens menu selection and more. overall success. While venue planning
in South Africa, Kenya and Ethiopia. It takes time, it does not have to feel
also has 20-acre floral farm at Aburi, Everything from a casual ceremony to overwhelming because Unique Floral
near Accra. It provides clients with the a formal church event (with an amazing has all it takes to give clients real
finest home furnishing. reception) is right within its means. satisfaction.
Unique Floral is truly the ideal place to
Interior Decor begin your happily ever after. There is a difference between holding
a good event and producing a great
Unique Floral provide our clients Rental Services event. While the type of event will
with the finest names in the Home certainly inform the venue choice, one
Furnishing business. It offers Unique Floral has a variety of fantastic of the largest limiting factors for event
personalized services that help clients accessories available for rent for space is its capacity and Unique Floral
to create a masterpiece. The company occasions. From decorative items and has the capacity to cater for any type
inspires clients with its awe-inspiring flower vases to glassware and garden of event.
surprises with shapes and fresh colors chairs, the company has all clients
which create visual interest in styling need to organize their splendid events. Not only does the company have the
themes that bring a world of fashion best venues, but it also has the best
into their homes. Events & Florist team, the best equipment and more.
Training A venue’s reputation for service is
The company understands clients’ critical. The way a venue manages its
desire for innovative styles and pays When you want to acquire the skills facilities, staff and clients will always
much attention to detail. For interior that make the Unique Floral team so be remembered. To get a sense for a
decoration, it creates dreams that unique, then the Unique Floral Décor venue’s reputation value, Unique Floral
come true for clients and their home. School is the pacesetter in training in should always be your first point of
the floral and décor business. contact.

44 The Business Executive

Timeless in Floral and Event Design

“With over 26 years of experience
in the floral and events industry,
Unique Floral continues to be the

leading household name in the
field.“

We currently have event centres in
Tema and Trade Fair, with one

about to be opened in Airport Hills.

Unique Floral has branches in
Tema, Tse Addo and Dzorwulu.

We specialize in:

Events Decor
Interior Decor
Floral Arrangements
Event Rentals
Training Programs ( Event Planning,
Floristry & Event Decor)

The Business Executive Contact us today:

Tse Addo: 0204341028
0204341032

Tema: 0204341021
0204341041

Dzorwulu: 0204341023

Instragram: @UniqueFloralCentre
@UniqueFloralShop

Twitter: @UniqueFloralC

Facebook: Unique Floral Centre

45 W e b s i t e : w w w . u n i q u e f l o r a l g h a n a . c o m

Brands to Watch 2020

Tobinco leads
pharmaceutical marketing

Tobinco Pharmaceuticals Limited (TPL) and Techiman aside the Head Office in Entramol D
is currently the leading pharmaceutical Accra. There is also a Wholesale and
marketing and distribution company Retail Division with outlets in Okaishie, Entramol D is enhanced with
in Ghana and now producing other Adabraka, Odorkor, Kotobabi, Tamale, diphenhydramine 12.5mg that provides
products locally by way of backward Takoradi and Kumasi with full networked fast relief from headaches, fever
integration to tap into the West Africa coverage across the length and breadth associated with cold and flu. It also gives
sub-regional market. of the country. These are augmented relief from symptoms such as sneezing,
by a fleet of vehicles that runs through runny and itchy nose especially night time
TPL seeks to gain a significant share every village and town in the country cold where relaxation is necessary. For
of the African market with its own for doorstep delivery of products to adults and children above 12 years, two
brands in the first year of manufacturing customers. (2) caplets should be taken 20 minutes
operations (Entrance Pharmaceuticals before bed time. The product may cause
and Research Centre). TPL has opportunities for partnerships drowsiness, use with care when driving
on a franchise basis and is currently or operating machinery.
The mission of the company is to registered and doing business in 12
consistently deliver the safest, high African countries and still counting. There Entramol Extra
quality and most potent pharmaceuticals are also several social support programs
and other healthcare products; using being undertaken through the SAT Entramol Extra is indicated for the
highly motivated and competent human Foundation which includes support for management of mild to moderate pain
capital with an incredible passion for Widows, Health, Business and Education and headaches strongly associated with
innovation, excellent and superior both locally and internationally. cold, flu and catarrh without causing any
customer care. drowsiness. The recommended dose
Premium quality of Entramol extra for adults and children
TPL aspires to be the market leader products above 12 years is one (1) to two (2)
in the provision of high-quality caplets two (2) to three (3) times daily not
pharmaceuticals and other healthcare Through its manufacturing subsidiary, exceeding six (6) caplets in 24 hours.
products in Ghana, Africa and beyond. Entrance Pharmaceutical and Research
Centre (EPRC), it has launched Co-Entramol
200 strong brands Entramol, its latest premium quality pain
reliever. Entramol range is composed of Co-Entramol is an advanced form
It has successfully developed over 200 paracetamol and its combinations and of Entramol that is indicated for the
strong brands of drugs and non-drugs is presented in the form of a caplet, a management of acute and chronic
which are categorized as follows: Anti- capsule shaped tablet, making it easy moderate pain, as directed the physician.
malarials (Lonart, Gvither, Gsunate, to swallow. Entramol ranges include
P-Alaxin, Lufart, etc.); Antibiotics Entramol, Entramol Plus, Entramol Extra, Awards
(Funbact-A, Combat N, Azirocin, Entramol D, Entracold and Co-Entramol.
Klovinal, etc.); Analgesics (Lofnac, It is a 500mg strength paracetamol per TPL has won several local and
Blopen, Gacet, etc.); and Gastro- caplet which relieves pain faster and international awards in honor of its
intestinal (Ancigel & Ancigel O, Domi-10 manages headaches, fever and general efforts and contribution to the industry
& 30, etc.). mild body pain. and the society such as Pharmaceutical
Company of the Year, Product of the
The other categories are diabetics and A statement from Entrance notes that Year, Best Distributor of the Year, Best
Anti-hypertensives (BG-Met, Amlocad, Entramol is scientifically made to bring Exporter of the Year, among others.
etc.); Haematinics (Zinvite, Alvite, relief to both the young and the old.
Foligrow, X’feron, etc.); Cough and Cold
(Kofof Range, Strobin Herbal, Fabrin); Entramol Plus
Nutritional Supplements (Gudapet,
Amitone, etc.); Surgicals (Gauze Entramol Plus is Entramol enhanced
Bandage, Abitos, etc.); and Cosmetics with very little amount of caffeine for an
and Antiseptics. enhanced effect. This makes it useful
in the management of more severe
Operational areas headaches like tension headache and
migraine.
TPL operates on sectorial basis in
Ghana from six sectors with offices in
Accra, Kumasi, Takoradi, Tamale, Volta

46 The Business Executive

The Business Executive 47

Brands to Watch 2020

WEdheirrilcpkooml aprrkoedtuscftisrst-class

Ederick Limited is the manufacturer’s The company is confident that when it is and gas, banking and finance,
representative for Whirlpool home considered as one of the best suppliers, hotels, restaurants and holiday
appliances. Ederick Limited is also it will ensure value for money in terms of resorts, government agencies, non-
the sole distributors for Taurus, Candy quality appliance delivery, affordability, governmental organisations and to
Hoover, Glem Gas, AUCMA and Philips durability and after-sales support service. individuals. Some of the clients that
electronics and Smart TVs in Ghana. Ederick Limited has undertaken
Objective projects for include Ghana Police,
Ederick can proudly boast of its own Ghana Army, Bank of Ghana, Access
brand, EDK, which is very strong and The key objective of Ederick Limited is Bank, Republic Bank, GCB Bank,
competitive in the appliance industry. to ensure “value for money” by selling Stanbic Bank, Korle-Bu Teaching
The company’s products ranges quality energy efficient home appliances at Hospital, Taysec Homes Limited and
from air conditioning units (splits, affordable prices with prompt after-sales Newmont Ghana Limited.
ceiling cassettes and floor standing), service to all its numerous consumers (end
refrigerators, chest freezers and users) in order to ensure total customer The rest are Chirano Mines, Anglogold
washing machines. satisfaction. Ashanti-Iduapriem, Abosso Goldfields,
Ghana Ports and Harbours Authority,
Our other line of products are tumble Ederick Limited was established in1986 Volta River Authority, GNPC, Vivo
dryers, cookers, ovens (built-in and as a privately-owned enterprise. It Energy, GRIDco, West African Gas
free standing appliances) hoods, became a limited liability company in 1990 Pipeline, Coca Cola, Guinness Ghana
extractors, dishwashers, microwave and has since then grown from strength Breweries Limited, Ghana Immigration
ovens, home entertainment systems, to strength for more than three decades. Service, Total Petroleum, Ghana
Blu-Ray Players, sound bars, LED Standards Authority, SSNIT, GRA,
TVs, blenders, irons, kettles, toasters For over 30 years, Ederick Limited Electoral Commission, FAO, UNICEF,
and rice cookers. In addition, Ederick has built for itself a strong brand and UNIDO, World Vision International,
Limited markets fully fitted kitchens reputation in the home appliance industry Trassaco, University of Ghana, retirees
with integrated appliances. in Ghana. The company prides itself in and Ashesi University.
protecting the environment by ensuring
All our appliances come with a that all appliances are 100% compliant to Ederick Limited’s showrooms and
warranty cover of 12, 6 and 3 months energy efficient standards and also supply warehouses (including bonded) are
on manufacturer’s defective parts. nothing short of top quality appliances. dotted around Accra (Spintex Road,
Ederick Limited’s on-site service Ederick Place in La and in Achimota),
centres at all its locations ensure that Ederick has the most competitive prices Kumasi (near Ahodwo Roundabout),
customers have the after-sales support which makes its appliances very attractive Takoradi (near Market Circle) and
they require in maintaining/servicing and affordable to everyone, and not only Tamale (opposite GRIDco on the Water
or repairing all appliances. In Ghana’s to a few. Works Road, Choggu).
economy, customers expect to have
peace of mind with their purchases Client base Ederick Limited has a service centre
of home appliances and that is what that boasts of diagnostic facilities,
Ederick Limited offers and represents - Ederick Limited’s client base includes adequately stocked parts and well
absolute peace of mind! diplomatic missions, manufacturing trained technicians. The company
companies, the mining industry, oil offers free delivery of all bulk purchased
Ederick Limited’s workforce of 80 appliances within the Accra and Tema
employees is very knowledgeable in metropolitan area, in Kumasi and
all its appliances and always strives Takoradi.
to make sure that all its customers
have a memorable experience Ederick Limited also has an online
shopping with the company. The store where customers can shop in
affordability of Ederick Limited’s the convenience of their homes or
appliances, uncompromising attitude offices and pay by Visa and arrange to
on quality, the energy efficiency of all have their appliances delivered to their
its appliances, the strong after-sales doorsteps or pick up in-store – the
support that Ederick Limited offers online store can be located at www.
and the professionalism of all its staff ederickltd.com
(sales, service and support staff) have
been the backbone of Ederick Limited.

48 The Business Executive

The Business Executive 49

Brands to Watch 2020

Eagle Petroleum Company
markets best products

Mrs Shirley Frimpong, MD., Eagle Petroleum the National Petroleum Authority (NPA) as The company’s
a Bulk Oil Distribution Company (BDC) and vision is to
Eagle Petroleum is one of the largest started operations in August 2016. Since its become
locally-owned wholesale distributors inception, the company has maintained a key a leading
of petroleum products which strategic position in the oil and gas industry marketer of
markets the best and cost-efficient in Ghana creating value for money for its petroleum
products in the competitive Ghanaian oil and esteemed customers. products in
gas industry. Ghana and
Mission statement beyond by
This explains the numerous customers who giving value for
troop to its various depots to purchase Eagle Petroleum aims to be an outstanding money.
Eagle Petroleum Company’s products. BDC with effective and efficient supply of
Eagle Petroleum Company’s line of business quality Petroleum Products to consumers in both its banks and suppliers; and is also
includes the wholesale distribution of Ghana and beyond. able to secure enough products and we
petroleum products. It trades in petroleum are never short of supply to customers.
products, including Petrol (Gasoline), Diesel Vision statement Eagle Petroleum makes all payments
(Gasoil), Kerosene and L.P.G. (Liquefied on time and in most cases earlier than
Petroleum Gas). the credit days of our suppliers; and
The company’s vision is to become a leading it has good creditworthiness with all of
Through the robust, integrated network of marketer of petroleum products in Ghana its suppliers. The company has many
tankers and terminals that the company and beyond by giving value for money. reputable banks willing to cooperate with
uses, it strives to supply its many customers it due to its trustworthiness.
with the best grade of petroleum products Our core values
which they need in every part of Ghana. The company has won a couple of
Ultimate Customer Service: The company awards, including the “Silver Partnership
The company’s dedicated staff follow believes that customers are its “anchor” and, Award” from the Bulk Oil Storage and
industry-leading processes to ensure product therefore, does its best to understand them Transportation (BOST) Limited for its
integrity is maintained from the processing amidst industry conditions in order to bridge loyalty and value to its business in 2016
of customer’s request to terminal loading. the gap progressively. and “The Most Promising Oil and Gas
It is also committed to ensuring that all the Company” by the Ghana Oil & Gas
petroleum products supplied are in strict Integrity and Honesty: Eagle Petroleum Awards in 2017.
compliance with applicable governmental values honesty and transparency in dealing
laws, rules and regulations. with colleagues and all stakeholders. Its Corporate Social
zealous commitment to integrity ensures Responsibility
Eagle Petroleum Company gives its thankful that it operates within the specified standard
customers peace of mind, ensures product of the regulatory body of the industry and Eagle Petroleum is very committed to
availability and maintains its integrity which also makes trust in its partnership with its undertaking a lot of social responsibility
is its hallmarks. Its organizational structure is stakeholders a priority. projects that will support the communities
made up of a Board of Directors (BoD) and a in which it operates in order to put
Management team. Confidentiality: We acknowledge that our smiles on the faces of many people.
employees will be exposed to valuable For business, contact +233 577 680
Eagle Petroleum Company was incorporated information in the discharge of daily task and 699; and Email: info@eaglepetroleumgh.
as a private limited liability company under thus the need to uphold in high esteem the com. For more information, visit: http://
Ghana’s Companies Code, Act 179 (1963) value of confidentiality. eaglepetroleumgh.com
in 2015. Eagle Petroleum is licensed by
Exceptional
performance &
achievements

Eagle Petroleum’s operations grew over
200% within a year of operation. As a result,
it has become one of the major players in the
industry. The major operational performances
and achievements include: Through good
financial and operational policies, it now
boasts of having enough trading lines from

50 The Business Executive