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Vice President Bawumia Unveils Absa Bank Ghana Ltd

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The Vice President, Dr Mahamudu Bawumia, has commended Ghana’s banking sector for the continued support for Government initiatives and development programmes over the years.

The Vice President is particularly grateful for the support of Barclays Bank Ghana over the years in achieving Government’s flagship programmes in agriculture, education and technology, and for supporting other programmes such as rural telephony network expansion, Ghana Road fund financing, Getfund Syndicated facility, all geared towards inclusive development.

Vice President Bawumia gave the commendation when he delivered an address on behalf of President Nana Akufo-Addo at the launch of Absa Bank Ghana, formerly Barclays Bank Ghana, in Accra on Monday, 10th February, 2020.

This change follows the take over of Barclay’s Bank by the Absa group in 2018.

Recalling some highlights of Barclays Bank’s 103 year history in Ghana, Vice President Bawumia commended the bank for setting a high bar for banking in the country and partnering successive governments to achieve remarkable feats.

“You have made significant contribution to the economic growth and development of Ghana.  As a bank, you have played significant roles in our annual cocoa syndication arrangement, the various Eurobonds and many other financing deals to generate funds for key government projects to serve the people of our beloved country.

“Indeed, you were at the forefront of the 2017 bold historic 2.25 billion dollars bond, which we raised to help support key development projects for Ghanaians. The deal, the largest in Sub-Saharan Africa, was instrumental in Government’s liability management strategy.

“In addition to the above, you are playing an instrumental role in the financing of various important development projects across the country” Vice President Bawumia disclosed.

“These and the many other support give us the confidence that Absa Bank’s commitment to Ghana is unchanging.”

Vice President Bawumia called on the banking and financial sector to do more for Small and Medium Entreprises (SME), who play a very key role in the economy.

“One area of great concern for us as government is support to the Small and Medium-sized Scale Enterprises. The contribution of the SME sector to our economy is quite significant. It is for this reason that government continues to encourage private sector support for this segment.

“The President acknowledges the support the private sector and especially some of the financial institutions are giving to the SME sector, making us truly partners in development.”

To take further advantage of the benefits of technology and digitisation Ghana, Vice President Bawumia said, is reaching for a major frontier of financial inclusion.

“Thanks to the Bank of Ghana and Ghipps, Ghana will launch a Universal QR Code payments system next month. This will make it possible for all retailers to receive payments on their mobile phones without the need for Point of Sale device.

“Soon we will be buying ‘Kofi brokeman,’ paying for tro-tro services, paying rent and for stuff in the market with our QR Code. Singapore launched a QR Code system in 2018. Ghana will be about the only country in Africa with a QR Code system.

“It is our determination that Ghana will not be left behind in the 4th Industrial Revolution and our human resource development, our financial sector development should focus broadly on building an inclusive system that opens the landscape for innovation and deepening of both the public and private sector environment.”

Vice President Bawumia commended the board and management of Barclays for the smooth transition to a new brand name, saying “Ghana together with Absa Bank is making history. This year, 2020, is the dawn of a new decade and a new and refreshed beginning for Absa Bank Ghana Limited and we are proud to be part of this beginning.”

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Elubo to Get New Ultra-Modern Market – Mahama

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The Presidential Candidate of the National Democratic Congress (NDC) John Dramani Mahama, has announced the next NDC administration will construct an ultra-modern market in the border town of Elubo in the Western Region to the size of the Kejetia market.

He has therefore, asked Ghanaians to vote for him and the NDC in the upcoming general elections.

He asked Ghanains to have an introspection into their lives and determine whether or not their standard of living under the current administration has improved.

He expressed optimism that Ghanaians will vote against the governing New Patriotic Party (NPP) to give the NDC the chance to form the next government.

On Friday October 23, his Vice Presidential candidate, Professor Jane Naana Opoku- Agyemang also assured market women that the next government of the NDC will ensure that befitting spaces are provided to them to carry out their trade.

A decent market space will indicate that the women are being respected for the kind of profession they have chosen, she said.

“Market women need more decent market spaces to trade,” Prof Opoku-Agyemang said during the ‘Women in a Conversation with Naana’ event.

She added “We need markets that look like Kotokuraba market in Cape Coast and such interventions show respect for our women because the market place is the office of the market woman.”

– 3news.com

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Ghana’s Economy in Tatters – Mahama

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Ghana’s economy at the moment is going through crisis, former President John Dramani Mahama has said.

He said the economy has been badly managed by President Nana Addo Dankwa Akufo-Addo, a situation that, in his view, has resulted in untold hardships for Ghanaians.

The presidential candidate of the National Democratic Congress (NDC) said this on Monday, October 26 while speaking in an exclusive interview with TV3’s Komla Klutse.

“Times are hard for people,” he said.

He added: “All the people that we have spoken to are finding it very difficult to make ends meet.

“One thing that stands out is the appreciation to the NDC government for a lot of the infrastructure that they have in terms of electricity, in terms of drinking water, in terms of schools, in terms of CHIPS compound, health facilities and so many other things.

“They believe that the NDC should come and continue from where they left off.

“There is also the case of the abandoned projects – clinics, schools, roads, where we left off, most of those projects have been abandoned by the new government. Of course, they have their own priorities but the people are not happy about that they want a continuity.

“They also want a stronger economy. The economy at the moment is in serious crisis and it is creating a lot hardships for them.”

Source: 3news.com

 

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Ghana’s Cocoa Management Goes Digital

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Vice President Mahamadu Bawumia on Friday launched the Cocoa Management System (CMS) to create a comprehensive digital database for cocoa farmers for effective and efficient management of the cocoa industry.

The CMS is an online portal that will capture the demographics of cocoa farmers, farm sizes, input supplies, payment transactions and facilitate the roll out of the Cocoa Farmers’ Pension Scheme.

Vice President Bawumia, speaking at the launch in Accra, said the System would be a game-changer for the cocoa industry, enhance transparency and help bring total transformation in the sector.

He entreated the Management of COCOBOD to build in-house capacity to manage the System to ensure its sustainability.

He called for collaboration between all stakeholders in the cocoa industry for effective implementation of the programme.

Dr Bawumia urged the media to undertake sensitisation drive to educate cocoa farmers and all players in the cocoa value chain for successful implementation.

He lauded the Management of COCOBOD for implementing various innovative initiatives over the past three and half years, saying that, the CMS was in tandem with the Government’s digitisation agenda to formalise the economy.

He said digitisation was revolutionalising the global economy, therefore it was imperative to leverage on information technology to enhance productivity and promote accountability and transparency.

The Vice President outlined various interventions rolled out by the Akufo-Addo-led government to improve the income and livelihoods of cocoa farmers in the country.

They include; hand pollination, pruning, and irrigation of cocoa farmers, supply of subsidised fertilizers and farm inputs, as well as the introduction of living income differential and increase in cocoa prices recently.

Dr Bawumia also mentioned digital infrastructure initiatives rolled out to generally formalise the Ghanaian economy including the digital property addressing system, national identification system and mobile money interoperability payment system.

Chief Executive Officer (CEO) of COCOBOD, Joseph Boahen Aidoo, the said the Management of COCOBOD over the past three and half years were implementing initiatives to address the myriad of challenges be-devilling the cocoa industry.

He mentioned some of the initiatives as early spraying, hand pollination, supply of slashes, pruning and irrigation of some cocoa farms to ensure all-year round water.

He was of the conviction that, the CMS if fully implemented, would create a central database for cocoa farmers, create inter and intra connectivity generation of cocoa industry players and transform the industry for the better.

A Deputy Minister of Food and Agriculture, George Oduro, said the government had adopted mechanisation programmes to accelerate economic growth and make cocoa farming attractive to the Ghanaian youth.

He said government had supplied 100,000 motorized slashes to cocoa farmers, embarked on irrigation in some cocoa farmers and continued the fertilizer subsidisation programme to improve cocoa production.

The Deputy Minister was of the belief that the CMS would help eliminate fraud, theft and myriad of challenges facing the cocoa industry.

Alhaji Alhassan Bukari, President of Cocoa, Coffee and Cashew Farmers Association, on behalf of the association, thanked the Government for introducing major innovative initiatives to better the lots of cocoa farmers, which had also reduced the drudgery of farming and made it attractive for the Ghanaian youth.

 

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