On May 28, 1998, Strive Masiyiwa shared his invaluable business lessons in an interview. Born in Zimbabwe, Masiyiwa is a renowned entrepreneur and philanthropist, best known as the founder and executive chairman of Econet Wireless, a leading telecommunications company in Africa.

During the interview, Masiyiwa emphasized the importance of perseverance and innovation in the business world. He discussed how he navigated challenges and setbacks throughout his entrepreneurial journey, highlighting the need to adapt to changing circumstances and seize opportunities.

Masiyiwa also underscored the significance of ethical business practices and integrity, emphasizing the long-term benefits of maintaining honesty and transparency in all dealings. He spoke about his commitment to corporate social responsibility and giving back to the community, outlining how businesses can have a positive impact on society beyond profit-making.

Moreover, Masiyiwa shared insights into the telecommunications industry and the role of technology in driving economic development in Africa. He discussed the potential for mobile technology to empower individuals and transform lives, particularly in underserved communities.

Overall, Masiyiwa’s interview provided valuable lessons for aspiring entrepreneurs, emphasizing resilience, integrity, and the power of innovation in building successful businesses with a positive societal impact.

Christian FellowsSend your news, stories or articles to info@chrife.com.gh or via WhatsApp +233550144803

The post Strive Masiyiwa On His Business Lessons (28 May 1998) appeared first on Chrife.com.gh.

According to Barclays, it is committed to helping Ghanaian traders achieve their financial goals with a robust and broad array of product offering, coupled with extensive experience in the banking industry. The bank said Absa had lined up superior and exclusive offers and opportunities for customers to grow their businesses.

The forum, dubbed:“Global Trade and Risk Management – Optimizing the way Organizations Transact Business Internationally”, provided participants with deep insights into global trade, exposed them to discussions on Ghana’s paperless clearing system, opportunities presented under the Africa Free Trade Agreement and examined trends in Ghana’s foreign exchange market. It also provided a platform for an interaction among industry players in international trade.

Speaking at the forum, Ellen Ohene-Afoakwa, Corporate Banking Director at Barclays Bank Ghana, assured clients that as Barclays transitions to become Absa, the bank would continue to be a key player in assisting them in their trade facilitation.

“As a bank, we intend to continue playing our rightful role by providing superior financial services to facilitate trade between countries …” Ohene-Afoakwa said.

Other speakers at the event were Bohani Hlungwane, Absa Regional Head of Trade; Ivy Deh, a Senior Dealer at Barclays Bank Ghana; and Abena Serwaa Opoku Fosu, Corporate Affairs Manager at Ghana Ports and Harbours Authority (GPHA).

Source: dailyguidenetwork.com

The post Barclays Intensifies Trade Finance Offering To Businesses appeared first on Chrife.com.gh.

The Ghana Stock Exchange Composite Index has lost more than 14 percent this year, making it the laggard in dollar terms among 94 global equities benchmarks tracked by Bloomberg. The index advanced for a first day in three on Friday, gaining 1.4 percent to 2,415.2 at 2:34 p.m. in the capital, Accra.

Ripple Effect

Currency collapse sends Ghanaian stocks to world’s worst performance

Ghana’s impending exit from a four-year International Monetary Fund program next month has unnerved some foreign investors, whose sale of the country’s assets has beaten the cedi 11 percent lower in 2019. A central bank-led cull of the banking sector has combined seven lenders into one entity, constraining flows of institutional funds to the stock market.

“Some foreign investors sold their investments because of rising interest rates in the U.S. and the recent uncertainty about Ghana’s economy after IMF,” Kofi Busia Kyei, a stock trader at UMB Stockbrokers in Accra, said by phone. “We are not getting the pension funds and other institutional investors as we used to because they are all complaining of a lack of funds. Their funds are locked up in fixed-term investments with banks that were consolidated last year.”

Foreigners accounted for 78 percent of stock sales in the first two months of the year, according to figures from Central Securities Depository Ghana Ltd.

Soource:bloomberg.com

The post Worst-Performing Stocks Found in Ghana as Foreigners Exit appeared first on Chrife.com.gh.

According to the investment consultant, government must not be blamed for the depreciation of the Cedi.

“We should not blame government for Cedi depreciation,” he posited.

“We should blame the Governor of the Bank of Ghana because that is their job.”

He opines that government’s responsibility is to ensure that the general economy is doing well and that has a ripple effect on how the Cedi performs.

Mr Pianim shared these views at the second Economic Dialogue Series hosted by Media General.

Coming on the heels of the first edition, which was on Ponzi schemes, the second on Thursday, March 28 was finding solution to the erratic performance of the Cedi on the international forex market.

It was themed: ‘The Ghana Cedi: Breaking the Cycle of Depreciation’.

Mr Pianim, who was the first speaker, insisted that the performance of the Cedi signals the health of the Ghanaian economy.

Therefore, he considers a weak local currency as a symptom of a weak economy.

So for him, in finding a solution to the cyclical disposition of the Cedi, pragmatic efforts must rather go into making sure that the economy is buoyant.

“We have to treat the source and not the symptoms.”

Source: ghanaweb.com

The post Government Must Not Be Blamed for Cedi Depreciation – Kwame Pianim appeared first on Chrife.com.gh.

The facilities were as a result of the Technical and Economic Cooperation Agreement between the governments of Ghana and the Federal Republic of Germany, which gave rise to the “Environmentally Sound Disposal and Recycling of Electronic Waste (E-Waste Programme).”

The E-Waste Programme, being implemented by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, in partnership with the Ministry of Environment, Science, Technology, and Innovation, seeks to improve the conditions for sustainable management and disposal of electronic waste in the country.

The training concept, in particular, would focus on economic efficiency, improved access to services, reduced exposure to health risks, and environmental protection.

Mr Christoph Retzlaff, the German Ambassador to Ghana, at the commissioning on Wednesday, said the initiative would help reduce risks to human health and environment by schooling scavengers to apply best practices for collection and dismantling of e-waste.

The 25-million Euro programme, he explained, would strengthen small-scale recyclers through capacity building on an individual and institutional level to work in a safer environment.

Mr Retzlaff said the combined effort between the two countries had begun to change the narrative of the scrap yard and was unfolding its full potential of becoming a place of environmentally friendly resource recovery.

“This will be a model for e-waste recycling in Ghana,” he added.

Professor Kwabena Frimpong-Boateng, the Minister of Environment, Science, Technology, and Innovation, said the process of resource recovery from e-waste had been a major problem for the country over the years, adding: “The way things are done here is not right”.

The facility, he said, was an excellent example that would be replicate in other countries as well as support the livelihood of people trying to earn a living.

He said despite the severe consequences of the trade in e-waste, many were involved because that had been their livelihood over the years.

Recycling e-waste under a sound condition, the Minister stated, would help the local economy, reduce air pollution and ensure a clean environment.

Subsequent to the three projects commissioned, the Minister said a big plant would be established where occupational health and safety standards as well as proper treatment and elimination of hazardous substances would be practiced.

Dr Stefan Oswald, the Director-General of the German Federal Ministry for Economic Co-operation and Development, said: “Being here at Agbogbloshie I can see that the scrap yard is a very challenging place to work with a lot of environmental and occupational health problems”.

“It is not the ‘hell on earth’ like it is often reported in the international media, however, we need to work hard to make it a place where about 10,000 scrap workers can earn a living under improved health and environmental conditions.”

The core problem is that conditions for sustainable management of e-waste in Ghana are not adequately developed, however, the current system has great potential.

It achieves high collection rates of about 95 per cent e-waste and generates income and employment for unskilled youth, particularly from the northern part of the country.

The post Ghana’s Biggest E-Waste Yard Receives Major Boost appeared first on Chrife.com.gh.

Answering questions on the floor of parliament regarding the country’s final steps to opt out of the IMF programme, and the current Eurobond, Mr. Ofori Atta said a Public Finance Act is in the offing to address challenges facing government’s financial management.

He said though Ghana will be exiting the IMF programme very soon, the country will continue to seek technical advice and support from the fund in order to further strengthen the economy.

Though, he acknowledged that investor confidence in the country has waned, he disagrees with critics assertion that the economy is in bad shape.

Mr Ofori Atta said the depreciation of the cedi does not in any way shows that the fundamentals of the economy are weak.

Mr. Ofori Atta also outlined measures being taken to reverse the situation. He said already, the cedi has shown signs of recovery.

Meanwhile, the Minority has cast doubts on the achievements the finance minister has been outlining.

Source: gcbghanaonline.com

The post Ken Ofori Atta Explains the Relatively Stable Economy appeared first on Chrife.com.gh.

According to the company, the earlier date of April has been moved forward due to the commitment of the company to deliver excellent service for Ghanaians.

Outgoing Chief Executive of Vodafone, Yolanda Cuba in a press conference disclosed that Vodafone has invested in about 200 cell sites to deliver the service.

“Prior to the acquisition of the 4G network, we indicated to you that customers will be able to get the service by the second quarter of the year, I’m happy to announce that there has been a massive support from the technical team and all members at Vodafone hence we will launch commercial operations of the 4G services next week 19th of March this year 2019. This will mean an improved network quality for customers and all our services”.

Vodafone Ghana acquired a 4G spectrum this year to roll out an improved service across the country.

This makes the company the second to acquire the service since it was introduced by the National Communication Authority.

The company has rescinded its earlier decision to roll out the service in April due to an advanced investment and commitment to get its customers on a 4G before the second quarter of the year.

On the issue of listing Vodafone on the Ghana Stock Exchange, Yolanda Cuba noted that the attention of the board has been drawn on the matter but they are yet to make a decision.

“It has been a decision for the Vodafone board and not management, I am a management member but I must say it has come to our attention. There is an ongoing discussion between the government of Ghana and the Vodafone board but it’s not their focus for now.

Our challenge was the balance sheet which we got it cleared with support from the government of Ghana,” Yolanda Cuba said. 

She also disclosed that the company is investing about $100 million to upgrade existing sites and new ones it intends to establish.

Vodafone Ghana won one lot out of three to begin 4G operations (2x5MHz frequency spectrum block in the 800 MHz Band) for mobile services. 

This followed successful financial negotiations with the National Communications Authority (NCA).

Source: myjoyonline.com

The post Vodafone Ghana to Commence 4G Service appeared first on Chrife.com.gh.

The planned reforms are within the framework of the World Bank Group’s Doing Business Report, which provides objective measures of business regulations for local firms in 190 economies and selected cities at the subnational level. The reforms will cover starting a business, obtaining construction permits, getting electricity, trading across borders, and resolving insolvency.

“These reforms are further demonstration of government’s commitment to removing the obstacles that have long kept businesses in Ghana from reaching their full potential. We aim to unleash the Ghanaian entrepreneurial spirit and open our doors to the world” Vice President Bawumia said.

The Doing Business Report has become the global benchmark for measuring how friendly countries are for businesses. The “zero-sum ranking” fosters keen competition among countries as those that don’t reform faster than their peers can go down in the ranking even if their business environment does not change. Ghana ranked 114thin the 2019 ranking, up from 120th in 2018.

“Through our work in advising Government in over 80 countries globally and over 30 in this region, we know that having the commitment at the highest level of leadership is one of most important ingredients of the reform agenda,”said Ronke-Amoni Ogunsulire, IFC Country Manager for Benin, Burkina Faso, Ghana, Niger, and Togo. “With the appropriate reform structures in place, efficient coordination and accountability mechanisms, Ghana has the right formula to succeed and implementing an investment climate conducive to growth of businesses” she added.

Ghana’s reforms which will take effect between March and June 2019 include:

1. For companies applying to register without a TIN number, the TIN number will now be generated automatically online at the point of application;

2. Launch of a mobile app and an online platform for the ease of filing tax returns; Individuals will be able to file their taxes online by April 2019

3. Implementation of an electronic justice system that allows the automated serving of court process with speed and ease;

4. Removal of the requirement for a commissioner of oaths in registering a company when the companies bill is passed;

5. Merger of all four starting-a-business application forms: TIN application, SNNIT application, Business Operating Permit application and Business Registration forms;

6. Automation of the application for Business Operating Permit along with instant online issuance following payment;

7. Reduction and automation of the steps to getting electricity;

8. Automation of the construction permit system along with instant online issuance following payment;

9. Reduction in physical examination of containers through the use of risk engine;

10. Government is working towards the passing of the Insolvency Bill and the Companies’ Bill into law by Parliament.

The objective of the Doing Business Stakeholders workshop was to engage and create awareness within the private sector which is ultimately the beneficiary of the ambitious reforms introduced by the Government of Ghana.

Source: GraphicOnline

The post Government Announces 10 Measures that will Make Ghana a Business Friendly Country appeared first on Chrife.com.gh.