MTN Ghana has officially launched its inaugural Sustainability Week celebration under the theme “Sustainability: Our Collective Responsibility.”
This week-long event showcases MTN’s commitment to Environmental, Social, and Governance (ESG) principles.
The celebrations kicked off with the unveiling of an electric car and motorbike at MTN House, along with a display highlighting how MTN is utilising solar energy and renewable resources to reduce its energy sources.
Stephen Blewett, the CEO of MTN Ghana, emphasised the importance of sustainability for future generations.
“Sustainability is for future generations, and the current generation has a responsibility to care for the environment.
MTN is implementing initiatives aimed at achieving the company’s ESG goals and strategic intent.”
The CEO urged MTN employees to embrace sustainable practices to make the world a better place.
Adwoa Afriyie Wiafe, the Chief Corporate Services and Sustainability Officer of MTN Ghana, noted that the Sustainability Week is vital for realising MTN’s Ambition 2025 Strategic Intent and the company’s commitment to ESG principles.
She explained, “Our sustainability vision seeks to create shared value for our stakeholders through responsible environmental, social, and governance practices and solutions.”
The weeklong program has activities like “Lunch and Learn,” “Eco Talk,” and “Bright Conversations,” which will bring employees and others together to reflect on MTN’s journey so far and its plans for the future.
MTN Ghana is dedicated to fostering a sustainable future and enhancing the well-being of society.
In celebrating Sustainability Week, the company aims to raise awareness about environmental and social issues, inspire positive change, and reinforce its commitment to sustainable development
Vice President and NPP flagbearer, Dr. Mahamudu Bawumia has promised the establishment of a tomato processing factory to boost the local economy of the Offinso North Constituency.
Addressing a charged crowd in the capital Akomadan, a town historically known for its abundant and high-quality tomato production, Dr. Bawumia recognized the challenges farmers face, particularly the lack of market access and post-harvest losses.
Akomadan’s tomato industry, once a thriving agricultural hub supplying tomatoes across the country and beyond, has suffered due to limited processing and storage facilities.
To address these issues, Dr. Bawumia assured residents that his government would set up a tomato processing factory in the area if he is elected President.
“We will continue the good works we have been doing in the cocoa sector. The DRIP project is ongoing in the various districts where roads are being constructed. I will also introduce the District Agriculture Mechanization Center where I will distribute farming implements in the districts including”, Bawumia noted.
“For Offinso North I want to assure you that I will establish a tomato factory to support the local economy”, he announced.
Tuesday’s rally marks the second day of the ‘Bold Solution’ campaign tour of the Ashanti Region.
Having already toured 15 out of Ghana’s 16 regions and campaigned in over 220 constituencies, Dr. Bawumia saved the Ashanti Region—an NPP stronghold—for his final constituency-focused campaign stop. Many enthusiastic supporters had eagerly awaited the arrival of their prospective leader.
Joined by party figures like Ashanti Regional Chairman Bernard Antwi Boasiako, popularly known as Chairman Wontumi, Dr. Kofi Konadu Apraku, Kwabena Nsafoa, and both former and current MPs, Dr. Bawumia kicked off his Ashanti tour in Ntobroso, Atwima Mponua Constituency Monday (4 November).
The Vice-President of Ghana, who doubles as the 2024 Presidential Candidate of the ruling New Patriotic Party (NPP), Dr. Mahamudu Bawumia, is expected to officially launch the first ever credit scoring system in Ghana, come Thursday, 7th November 2024.
According to him, Ghana is expected to be the second country, after South Africa to have implemented the system in the whole of West Africa.
Dr. Bawumia announced this during the first day of his 15-day campaign tour of the Ashanti Region ahead of the December 7 polls.
He explained that the implementation of the credit scoring system would go away to help Ghanaians access credit facilities and buy their needed items and pay by installment basis as it is being done in developed countries.
According to him, the policy is done easily through proper identification system, address and bank accounts.
And, fortunately for Ghana, all these requirements had been met by Ghana card insurance, digital address system and implementation of the Mobile Money Payment Interoperability.
The service, which allows direct and seamless transfer of funds from one mobile money wallet to another mobile money wallet across networks, which was developed by Ghana Interbank Payment and Settlement Systems (GhIPSS) with active collaboration of the Mobile Industry.
Aside from that, Dr. Bawumia said his government also intends to make passport applications easily accessible.
“From next year, Ghanaians will not have to fill any form to access passport. They will need to pay the fees by using Ghana card which contains relevant information to fill for passport.
“Apart from that, I’m going to make driving licence valid for 10 years and renewal for five instead of every two years as it is currently being done,” he disclosed.
He also intends to implement buy Ghana products to reduce importation and empower the local industries Dr.Bawumia said the policy would become mandatory. He, therefore, cautioned the electorate not to make any mistake to vote for Mr.John Mahama who … will have only four years, and will not come for them for accountability.
Dr. Bawumia said ” because I know I will have to definitely come back to you for accountability and to seek a second term, I will work assiduously with openness. Support me to become the next President to continue the good works. Don’t stay home but go out in your numbers and vote for Bawumia, who is number one on the ballot and also vote NPP parliamentary candidates in your various constituencies devoid of “skirts & blouse” .
Source: tntnewspapergh.com
History
Since its incorporation on October 24, 1984, Juaben Rural Bank Ltd has established itself as one of the leading rural banks in Ghana, renowned for its impeccable reputation. Driven by its motto, “Being amongst the best,” the bank strives to realize its vision of becoming the most preferred rural bank in Ghana.
Located in Juaben, Ashanti Region, approximately 30 kilometers from Kumasi, the bank’s head office serves as a hub for its operations.
Notably, Juaben Rural Bank Ltd was the 93rd rural bank to be established in Ghana and the 18th in the Ashanti Region and was commissioned with an initial share capital of GH2,213.98, the highest in the country at the time.
The bank’s inception was inspired by Dasebre Otuo Siriboe II, The Omanhene of the Juaben Traditional Area, who resolved to establish the bank during the 10th anniversary of his enstoolment.
This vision has since grown into a thriving institution, dedicated to serving the community and fostering economic growth.
In 1984, a competent Board of Directors led by Nana Ampem Awuah Darko I, was established to implement practical policies for growth.
After his passing in 2005, Mr. Kwabena Asante Krobea Esq. took over, bringing new energy and strategic direction to enhance corporate governance and performance. In 2022, Nana Dr. Appiagyei Danka-Woso I, succeeded him. Three exceptional leaders have chaired the Board, while three Chief Executive Officers have managed the bank’s affairs: Mr. Emmanuel Aboagye (1984-2009), Noble Kwabena Agyei-Poku (2009-2019), and Noble Augustine Awere Damoah (2019-to date). Each has significantly contributed to Juaben Rural Bank’s progress.
Financial Performance and Products
Beyond its conventional savings and current accounts, Juaben Rural Bank Ltd has pioneered a range of innovative products designed to cater for the diverse needs of its customers.
These innovative offerings have a direct and positive impact on customers’ financial lives. Through creative genius, the bank has introduced ground breaking products such as: Daakye Nti Investment:
A tailored investment solution for kids’ education and Cash Collection Services: harmoniously integrated cash collection at event venues whilst modifying existing products to make them more attractive to potential and existing customers at large.
These innovations have impacted positively on the bank’s performance in the last six years.
The total assets have experienced a remarkable surge over the past six years, skyrocketing from GHS112,956,693.00 in 2019 to GHS388,681,795.00 as of September 2024, marking a 244% increase. Similarly, total investments have witnessed an unprecedented growth, soaring from GHS47,483,163.00 in 2019 to GHS231,962,066.00, representing a staggering 389% rise. Deposit growth has also seen a dramatic uptick,climbing from GHS92,964,912.00 in 2019 to GHS339,532,239.00 as of September 2024, representing a 265% increase. Furthermore, loans and advances have demonstrated a significant escalation, rising from GHS41,719,476.00 in 2019 to GHS70,874,736.00 as of September 2024, representing a 70% increase.
Juaben Rural Bank Ltd has a longstanding policy of consistency when it comes to dividend payments. With the exception of the COVID-19 pandemic years (2019 and 2020), where the bank strategically withheld dividend payments, the bank has consistently distributed dividends to shareholders.
In the years 2021, and 2022, the bank paid out dividends of GHS932,929.02, and GHS1,125,053.00 respectively, demonstrating its commitment to rewarding shareholders. The consistent payment of dividends has played a significant role in driving the growth of share capital over the years as seen in the graph above.
As the bank has distributed dividends to shareholders,it has attracted more investors, leading to an increase in share capital. This, in turn, has enabled the bank to expand its operations, invest in new opportunities, and further enhance shareholder-value.
Corporate Social Responsibilities
Juaben Rural Bank Ltd is very much conscious of its corporate social responsibilities. Several initiatives that seek to promote the welfare of the people within the communities the bank serves have been embarked upon, including the construction of a multipurpose x-ray department for the Juaben Government Hospital, which has significantly improved healthcare services in the area. Additionally, the bank has provided state-of-the-art boreholes for many deprived rural communities, ensuring access to clean portable water for the residents. Juaben Rural Bank Ltd has also demonstrated its generosity through numerous donations, both in-kind and cash, to various schools, organizations, development partners, and the Ghana Education Service.
In tune with our commitment to support needy but brilliant students, the bank has granted scholarship to a total of 162 students who have a family member invested in the bank’s shares. These initiatives underscore our commitment to corporate social responsibility and determination of making a meaningful difference in the lives of others in the last 40 years.
40th anniversary celebration Activities
The bank celebrates its 40 years’ anniversary on the 24th of October 2024 and as part of activities marking the celebration we deeply invested in environmental sustainability stewardship, recognizing its critical role in shaping a resilient future.
To combat the pressing issue of environmental degradation, the bank organized tree planting exercise at Juaben with the aim of planting 40,000 trees in the next five years.
This is aimed at instilling a culture of sustainability among the community. Furthermore, clean-up exercises, designed to revitalize urban ecosystems, foster a healthy environment, and ultimately drive business growth have also been undertaken at Ejisu and other suburbs of Kumasi like Tafo and Pankrono
. These impactful initiatives were strategically aligned with our 40th-anniversary celebrations, emphasizing our commitment to environmental responsibility and corporate citizenship.
Achievements
Juaben Rural bank Ltd continuous pursuit of excellence has been recognized both nationally and internationally, as evidenced by the numerous awards we have received. The bank is proud to have been a prominent member of Ghana’s Prestigious Club100 and to have received the Ashanti Financial Service Excellence Awards under the auspices of Manhyia on several occasions.
As a feather in our cap the bank’s commitment to quality, technology, and innovation has been recognized globally as we have been honoured with International Star (Gold) Award for Quality in Geneva, Switzerland and the World Quality Commitment Platinum Award in Paris, France.
And now the bank has been awarded by the Ghana National Chamber of Commerce and industries as THE BEST RURAL BANK OF THE YEAR 2023. Proud of these recognitions, the bank is motivated to serve customers better and build lasting relationships.
Locations
Juaben Rural Bank Ltd boasts of eleven (11) branches strategically located in the Ashanti region of Ghana. The bank’s head office is situated in Juaben, approximately 30 kilometers from Kumasi. The branches are conveniently located in: Ejisu, Bonwire, Fumesua, Kejetia, Roman Hill, Suame New Road, Pankrono, Aboaso, Onwe, Sepe, and Juaben.
The Future Prospects
The future prospects for our bank are truly remarkable. We are eager to expand our coverage and services, with plans to open new branches at other strategic zones identified which will enable us to better serve the unserved markets within Ashanti and other region.
In addition, we are committed to leveraging digital platforms to provide convenient and innovative services to our customers. Our Blue Wallet app which soon be introduced, is a key component of this strategy, offering users effective and user-friendly experience in transacting banking business with the bank.
Furthermore, we are dedicated to exploring Agency banking creativity to expand our market frontiers. By embracing top notched technology and innovative banking solutions, we aim to stay ahead of the curve and meet the evolving needs of our customers.
Overall, our goal is to continue providing exceptional service, driving growth, and making a positive impact in the communities we serve.
By Nana Dr Appiagye Danka-Woso, Board Chairman
The Vice President, Dr. Mahamudu Bawumia, has expressed shock at President John Dramani Mahama and his cohort who share a view that digitalization and the economy has no correlation.
At the launch of GoRide, a new digital platform for Ghanaian taxi drivers, in Accra on Wednesday, October 31, Dr. Bawumia was utterly stunned at how any person with the understanding of global trends would downplay the role of digitalization in a modern economy.
In a veiled message which many people believe was aimed at former President Mahama who has been an ardent critic of Bawumia’s digitalization programmes.
Dr.Mahamadu Bawumia Former President John Mahama
Dr. Bawumia detailed how modern economies are currently controlled by digital tools and how nations would be left behind if they fail to be a part of this 4th industrial revolution.
“Sometimes, people don’t quite get what we are doing. They say, oh, Vice President is launching an app; sort of an app, and they say what has that got to do with the economy…When you look at a company like Uber which is an app for ride hailing, what is the value of uber ? I checked yesterday the most recent value for Uber, that is $163 billion. That’s the value of uber.”
“What is Ghana’s total GDP; the total value of our economy? It is $75 billion. The total value of Ghana’s economy is $75 billion. Uber, one company is $163 billion which is twice the whole of Ghana’s economy. From one app they built a value of $163 billion. In this 4th industrial revolution, you must understand the link between digitalization and the economy”, Dr. Bawumia stressed.
He added; “You ask about Microsoft which builds app. The value of Microsoft as at yesterday was $3 trillion dollars. One company, $3 trillion dollars. That is 40 times the value of Ghana’s economy. Because you are in the 4th industrial revolution. If you don’t join it, you’re going to be left behind. This is where the world is going.
“Apple is worth $3.5 trillion dollars; 46 times Ghana’s total economy, one company. Because they are building apps that we are all using. Even Airbnb is worth $85 billion dollars more than Ghana’s economy from one app.”
Dr. Bawumia stressed he championing digital structures such as the digital national identity system, national addressing system, interoperable payment systems among others are all part of readying Ghana to take advantage of the ongoing global digital revolution which is principally effective through the use of local apps.
“So as you enter the fourth industrial revolution, you’re whether going to be developers of these apps or the users of these apps and we have to make that choice…If you want to empower your local economy and be a full participant in the 4th industrial revolution, you have to be developing many of these apps. So, today, I’m very proud to be able to have played the part in getting us to this point.”
“This is the thinking behind Ghana Card, behind mobile money interoperability, digital address, Ghana.gov, E-health and all of that we are doing. That we are going to have to make sure that Ghana is not left behind in the digital revolution that we are seeing. And we need to see more local empowerment in this space.”Source: Ameyaw Adu Gyamfi/Peacefmonline.com/Ghana
The Bank of Ghana (BoG) is bolstering its reserves to curb the cedi’s depreciation against major foreign currencies as demand for forex is anticipated to rise with the upcoming festive season.
The Central Bank’s move aims to reassure businesses and consumers by steering the local currency towards greater stability in response to current pressures.
At present, the cedi is trading at nearly GHS 17 to a dollar on the forex market, reflecting a year-to-date depreciation of 24.3%.
Dr. Ernest Addison
However, Dr. Ernest Addison, Governor of the Bank of Ghana, emphasized that strengthening reserves is essential to mitigating fluctuations in the cedi’s value and safeguarding economic stability.
“Some are praying that the cedi will recover to GHS 10.00 to a dollar. These are the problems in our economy, the issues about the exchange rate and financial sector issues. But I think the good news is that we are making progress because the developments we are seeing are not different from other jurisdictions.
“So, we need to stay focused and implement the appropriate policies and build buffers to be able to support the progress we have made.”
This strategy, he explains, will not only strengthen the local but also foster investor confidence and broadly support economic stability.
“We have $7 billion dollars in foreign exchange reserves. If I want to drive the dollar-cedi rate at GHS 10, I can do that tomorrow. But what about the day after tomorrow? So, we are balancing various factors, trying to build reserves and managing the exchange rate. So, all is not lost yet, there is some silver lining in the cloud, hopefully we will see the appreciation of the currency”, Governor Addison added.
He was speaking at the launch of “The Concise Law of Banking”, authored by private legal practitioner Afua Appiah-Adu.
The Concise Law of Banking is a practical and concise guide to banking law commissioned by the Institute for Law & Development (ILAD).
It is suitable for students, banking practitioners, lawyers, various professionals and others who wish to understand the principles of banking law.
The book is comprehensive and covers topics that are fundamental to banking law.
The topics that are covered in this book include: Introduction to Banking Law; Bank Regulation, Supervision and Licensing; The Banker-customer Relationship; Bank Accounts; Cheques; Recovery of Money Paid Mistakenly; Paying Bank & Collecting Bank; Electronic Payment Systems; Payment Cards; Offshore Banking; Credit Reporting; Borrowing and Lending in Banking; Documentary Credits and Money Laundering.
The Executive Chairman of the KGL Group, Alex Apau Dadey says governments must stop paying lip-service when it comes to the promise of making the private sector the engine of growth.
This, according to the business mogul, is because great countries are built by entrepreneurs or businessmen and not politicians.
Speaking in an interview, Mr. Dadey explained that it is, however, the responsibility of every government to back the private sector by putting in place the necessary structures and systems“My philosophy is that great countries are built not by politicians but by great entrepreneurs. Once we shift our mindset to that, we will encourage others.
“I hear governments all over the place talk about raising millionaires, raising billionaires but sometimes we misunderstand this concept of raising these millionaires and billionaires. We raise them for society, we raise them to create employment. Yes, they might take a chunk of it but would you rather have government take a chunk of your money and provides you with nothing or the private sector takes the lead?
“Recent example is Dangote in Nigeria. Yes, sometimes you get a little political backing but it does not matter because that is what the government is supposed to do.
“Government is supposed to back the private sector, be it in our country NPP or NDC… It does not matter. That is the role of government.”
The 2023 EMY Man of the Year also rejected the labeling of businessmen and entrepreneurs in Ghana as either members of the governing New Patriotic Party (NPP) or the opposition National Democratic Congress (NDC).
He is of the view that every businessman will work with any government in power, with the aim of helping grow the economy.
Mr. Dadey stressed that entrepreneurs put in the work and effort to grow their businesses and that must not be undermined with political affiliations.
“We get it all wrong when we create our own narrative of an NPP business man or an NDC business man, there is no NPP or NDC business man. There are business men. They work.
“But because of the way we have structured our systems, they have to work with every government in power.
“Sometimes you hear of people saying this businessman was with this party and later moved to that party but businessmen don’t think like that. They do what is necessary.
“So, we have to encourage the private sector not as a lip service and say that the private sector is the engine of growth when we don’t actually mean that,” he added.
Accra, Ghana – During his Campaign Caravan Tour across the Greater Accra Region, Hon. Alan Kyerematen, Founder and Leader of the Movement for Change and the Presidential Candidate for the Alliance for Revolutionary Change, laid out his ambitious “Greater Accra Redevelopment Initiative” (GARI) today, detailing a transformative 15-point agenda that aims to establish Accra among the top five cities in Africa by the year 2030. The announcement was greeted with enthusiasm as it painted a vision for a modern, efficient, and environmentally sustainable city.
“Accra, as our capital, should be a beacon of progress and prosperity,” Alan declared to a gathering of journalists and supporters. “This Greater Accra Redevelopment Initiative is not just a series of projects; it’s a roadmap to reshape the future of Accra for both residents and visitors,” he emphasized, underscoring the plan’s alignment with his broader Great Transformational Plan (GTP).
The GARI project comprises an extensive overhaul of the region’s infrastructure and services, covering transportation, sanitation, housing, health, education, and economic empowerment initiatives. “We aim to transform Accra into a modern metropolis that addresses both current challenges and future demands,” Mr. Kyerematen stated.
Key elements of the GARI project include a complete overhaul of public transportation, enhanced waste management, new flood-control measures, and improved access to potable water. To ensure Accra’s sustainable future, Alan Kyerematen envisions eco-parks and recreational centers, affordable housing, and expanded healthcare facilities to serve both the young and the aging population. “Accra deserves top-tier health, education, and recreational facilities. We will develop these in all communities, and implement strong traffic management to make life in Accra smoother and safer,” he said.
Mr. Alan Kyerematen also emphasized his vision to transform Accra into a financial hub for West and Central Africa. As part of this goal, the Central Business District will see significant redevelopment to accommodate growing business demands and solidify Ghana’s position in the regional economy. “The objective is clear: Accra must become the new Financial Services Center of West and Central Africa,” he asserted.
The initiative also includes economic empowerment programs focusing on sustainable tourism and hospitality for the youth, which Mr. Kyerematen noted are crucial to stimulating long-term economic growth in the city. “For our youth, we will create opportunities that foster both growth and self-reliance,” he promised.
Concluding his address, Mr. Kyerematen issued an invitation to the people of Accra and Ghanaians at large to join him in an Afrafranto Mega Victory Walk this Saturday, November 2, at 6:00 a.m., starting from the Kwame Nkrumah Circle. “I invite everyone to walk with us as we celebrate the bright future that awaits Accra,” he said passionately.
With this ambitious 15-point agenda, Alan Kyerematen seeks to galvanize the Greater Accra Region, leaving no doubt that he is prepared to usher in a new era of development and prosperity for Ghana’s capital city.
