Business

Kwame Baffoe Abronye Writes

Re: I will restore Collapsed “Banks & Financial Institutions to their Owners- Says Mr John Kalabuley Mahama.

I am daring Mr John Kalabuley Mahama to mention just One Bank or Financial Institution whose licence was unlawfully revoked and I will tender in my ” Resignation from NPP to Join your Campaign.

I have just read a post by Mr John Kabuley Mahama on his various social media platforms and by which in the said post, the former president with his usual alcoholic promises once again promised owners of the Collapsed Banks and financial institutions to restore back to them, their financial institutions notwithstanding the fact that these Banks & financial institutions, breached the Banks & Specialised Deposit-Taking Act, Act 930 (2016) .

Kwame Baffoe Abronye

I must state emphatically that, all the Banks and financial institutions whose licenses were revoked breached the existing laws within the banking industry, particularly the Banks & Specialised Deposit-

 

Taking Act ,Act 930. I am ready to resign from NPP to join NDC if indeed John Mahama is able to mention or name at least ” one Bank or Financial institution whose licence was unlawfully revoked.

John Dramani Mahama

I am not surprised that because of the “mixtures in his feeding bottle, Mr Mahama has not taken the time to read the Banks and Specialised Deposit- Taking Act, Act 930 that was assented to by himself in 2016. I would like to take this opportunity to tell you that, Act 930 which you assented to, to become law in 2016 says that, the minimum capital adequacy is 10% .

So, Mr John Kalabuley Mahama, can you perhaps, ask the following Banks their capital adequacy ratio in 2018 and what section 16 of Act 930, that you passed say about these banks under listed:

(1) GN Bank
(2) Premium Bank
(3) UT Bank
( 4) Capital Bank
(5) Beige Bank
(6) Construction Bank
(7) Heritage
(8) Unibank.

I must also tell you that, your recent promise to restore back these collapsed Banks and financial institutions is nothing but a desperation in the highest order. It is Not different from a drunkard promising to compete a 100 metre race with Usain -Bolt.

Respectfully, Mr former President, don’t forget that under your watch as a president, 86 Financial Institutions were collapsed and you couldn’t do anything about it before leaving power. As a president, if you could not do anything to settle depositors of 86 Financial Institutions which licences were revoked and today you’re here promising 350 Financial Institutions whose licences were revoked within the law, then I don’t know how to describe you.

As wicked as the NDC government was under your watch, denied these depositors of the under listed Financial Institutions which licences were revoked, an amount of 7.6 billion Ghana cedis, notwithstanding the fact that BOG released these funds to Dr Wilson Kwadwo Narh who was tasked to pay these depositors. This, you personally connived with Dr Wilson Kwadwo Narh, who later released the said funds to you to support your Campaign in 2016.

Your Excellency, Mr John Kalabuley Mahama, respectfully I am tired of npp and I want to join your Campaign in the coming days but I want you to tell Ghanaians why THESE 86 underlisted Financial Institutions’ licences were revoked by your government and the reason why their depositors were NOT paid any pesewa by your government:

1. ONWARD INVESTMENT LIMITED
2. Unity Trust Micro-Finance in Somanya,
3. Multi Credit Micro-Finance in Cape Coast,
4. Busy Fingers at Nima in Accra,
5. Mfa Micro-Finance at La in Accra
6. Equip Susu Micro-Finance,
7. Emends Micro-Finance and
8. Divine Micro-Finance.
9. Agapet Microfinance Limited
10. Antcave Microfinance Limited
11. Apex Microfinance Limited
12. Atwiman Microfinance Company Limited
13. Citiville Microfinance Limited
14. City Trust Microfinance Limited
15. Coastal Link Microfinance Limited
16. DIAMOND WINNERS Microfinance Limited
17. DKM DIAMOND Microfinance Limited
18. DUAPA TRUST Microfinance Limited
19. EGO VISION Microfinance Limited
20. EZI Access Microfinance Limited
21. F.H. & C Microfinance Limited
22. GLOW Microfinance Limited
23. Golden Life Microfinance Limited
24. Growth Champions Microfinance Limited
25. GROWTH POLE MONEY LENDING LIMITED
26. IDEAL WAY Microfinance Services Limited
27. IMAGES Microfinance Limited
28. JASTAR MONEY LENDING SERVICES LIMITED
29. FAST MONEY Microfinance Limited
30. FIRST UNITY Microfinance Limited
31. GANYO Microfinance Limited
32. GENESIS SEED Microfinance Limited
33. Global Standard Microfinance Limited
34. J’COBS Microfinance Limited
35. Jubilee Microfinance Limited
36. KAB Microfinance Limited
37. KB Star Microfinance Limited
38. KWABEF
39. LOOK-AHEAD Microfinance Limited
40. Magnet Microfinance Limited
41. MCKEOWN Microfinance Limited
42. MEDAL CREDIT Microfinance Limited
43. MEDLORM Microfinance Limited
44. MONEY HOME Microfinance Limited
45. MONEY LINK Microfinance Limited
46. MOTHERS’ Microfinance Limited
47. MY HOPE MICROFINANCE LIMITED
48. NEW DAWN MICROFINANCE LIMITED
49. OPPORTUNITY GLOBAL LINKS Microfinance Limited
50. ORION MONEY LENDING LIMITED
51. PAXMAN Microfinance Limited
52. PENDY-GLO Microfinance Limited
53. PROMISE Microfinance Limited
54. PROTEGE MICROFINANCE LIMITED
55. PRYME HEDGE MICROFINANCE LIMITED
56. QUICK LOANS MICROFINANCE LIMITED
57. REACH MICROFINANCE LIMITED
58. REEMALEX MICROFINACE SERVICES LIMITED
59. REJOICE Microfinance Limited
60. RIMDA Microfinance Limited
61. ROYAL KINGDOM Microfinance Limited
62. SAB Trust Microfinance Limited
63. SAFE Credit Microfinance Limited
64. SEAB Microfinance Limited
65. SHARP VISION Microfinance Limited
66. SHINE CREDIT Microfinance Limited
67. SIKA DWA Microfinance Limited
68. SILISON Microfinance Limited
69. SILVER Microfinance Limited
70. SKII Credit Microfinance Limited
71. Softbiz Microfinance Limited
72. SP Microfinance Limited
73. SPARK TRUST Microfinance Limited
74. Sufficiency Microfinance Limited
75. SWIFT TRUST Microfinance Limited
76. SYNTHESIS Microfinance Limited
77. THE LORD IS PEACE Microfinance Limited
78. TIME-FIRST Microfinance Limited
79. TOPNET Microfinance Limited
80. TRUST JESUS Microfinance Limited
81. TTS Microfinance Limited
82. Ultimate Focus Micro Finance Limited
83. Uni Cash Microfinance Limited
84. Vanliz Microfinance Services Limited
85. Western Microfinance Limited
86. Xzpress Link Microfinance Company Limited

 

MTN Ghana has launched the 2024 edition of its annual employee volunteer program called Y’ello Care. This year, to commemorate the 30th anniversary of MTN’s operations, the 21 Days of Y’ello Care has been extended to 30 Days.

In line with the theme “Education for Rural and Remote Communities,” MTN Ghana employee volunteers will implement a specialized program called “Quench and Connect.” Volunteers will assist in drilling digital boreholes in schools experiencing water shortages, enabling students to concentrate on their studies.

MTN employee volunteers will also establish container-based e-learning libraries equipped with computers, internet access, textbooks, storybooks, and supplementary reading materials to improve teaching and learning.

The initiatives also comprise data education and digital literacy workshops for both students and teachers. These projects aim to enhance the quality of teaching and learning in the selected schools nationwide.

Another creative project the MTN employees will be working on is the setting up of smart farms which will be irrigated by the boreholes with smart devices to support irrigation.

Speaking at the opening ceremony, the CEO of MTN Ghana Stephen Blewett said, “The theme emphasizes the important role education plays in transforming our communities, strengthening socio-economic growth and prosperity, and preparing our youth with the necessary knowledge, skills, and resources for the future”.

“With the 2024 edition of 30 Days of Y’ello Care campaign we seek to provide modern amenities and educational facilities in line with our digital focus to bring innovation to the doorstep of these deprived schools. This will help demonstrate the limitless boundaries of technology and the opportunities it presents”, he added.

The Special Guest of Honor for the launch in Accra, the Deputy Minister of Education, Hon John Ntim Fordjour commended MTN Ghana for partnering the Ministry of Education over the years to improve education and help bridge the digital divide in the educational sector. He called on the partners and MTN employee volunteers to pool their efforts during the 30 Days of Y’ello Care to make a difference.

The Y’ello Care program was launched in Accra, Kumasi and Takoradi and was attended by MTN employee volunteers, Y’ello Care partners, some past beneficiaries of MTN Y’ello Care and representatives of MTN Ghana Foundation Board.

MTN Y’ello Care is an annual employee volunteerism program across the MTN Group, allowing staff to participate in community development projects in countries where MTN operates.

The initiative, which was started in 2007, has made a significant impact on millions of people and hundreds of communities across the continent. At the end of the program, the country with the most impactful projects wins a prize of $100,000 to be reinvested in community projects.

End.

Media Contacts:
Adwoa Wiafe
Chief Corporate Services and Sustainability Officer

Georgina Asare Fiagbenu
Corporate Communications Senior Manager
Email: MTNGhana.MediaOffice@mtn.com

About Scancom PLC
MTN Ghana is the market leader in the mobile telecommunications industry in Ghana, offering subscribers a range of exciting options under Pay as You Go, Pay Monthly and Mobile Financial Services.

The company is part of the MTN Group which is a leader in emerging markets with a clear vision to lead the delivery of a bold new digital world to our customers.

We are inspired by our belief that everyone deserves the benefits of a modern connected life. Scancom PLC is listed on the Ghana Stock Exchange. Our strategy is Ambition 2025: Leading digital solutions for Africa’s progress.

 

By: Isaac Amoah/tntnewspapergh.com

A leading telecommunication giant in Ghana, MTN Ghana, has officially launched its annual Y’ello Care employee volunteering programme in the Ashanti Regional capital, Kumasi.

The programme, which was launched on 5th June 2024, aims at achieving high participation from the employees of MTN Ghana to give back to the communities they serve.

Some scenes from the event

According to the officials of MTN Ghana, this year’s 21 Days Y’ello Care celebration has coincided with the 30-year anniversary of MTN, for which reason they have decided to do 30 Days of Y’ello Care campaign instead of the usual 21 days, starting from 1st June to 30th June across the country.

This year’s event is under the theme “Education for the Rural and Remote Communities – Learn Today, Lead Tomorrow”.

Speaking at the launch of the programme at the MTN Kaase Office, Mr Nii Adotey Mingle, the General Manager for Northern Business District, said, “The theme emphasises the important role education plays in transforming our communities, strengthening socio-economic growth and prosperity, and preparing our youth with the necessary knowledge, skills, and resources for the future”.

According to him, the 2024 edition of 21 Days of Y’ello Care is a remarkable initiative that focuses on the commitment of MTN employees to the development of their communities.
He said, “For those hearing about Y’ello Care for the first time, let me tell you what it is all about.”

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Mr Nii Adotey Mingle

He continued, “The 21 Days of Y’ello Care is an annual staff volunteer programme instituted 17 years ago to allow MTN staff across about 19 countries to volunteer their skills and services freely for the benefit of their communities, while investing in identified community improvement projects.”

“This is a cause close to our hearts and one that the MTN Ghana Foundation is dedicated to. We are delighted to be able to extend our support to these remote areas through our unique and innovative community improvement programme,” he added.

The General Manager said this year’s campaign had coincided with the 30th anniversary celebration of MTN and so this
year’s edition is called “30 Days of Y’ello Care.” The campaign is running from June 1st to June
30th.

Mr. Mingle said MTN believes that the 2024 edition of 30 Days of Y’ello Care campaign would significantly impact the communities it serves, help bridge some of the educational gaps and barriers faced in our
rural communities, and ultimately help shape an equitable digital future for Ghana.

He said to help create the change they want to see in Ghana and across Africa, MTNers, through the 30
Days of Y’ello Care, would help expand educational systems with more infrastructure and also provide resources and materials for teachers to succeed in the classroom, equip deprived schools with digital tools to bridge the digital divide and improve educational outcomes.

Aside from that, MTN staff members intend to empower learners with sustainable initiatives that will encourage them to stay in school and build valuable skills.

Mr. Mingle said given their 30th anniversary and 30 Days of Y’ello Care, MTN Ghana volunteers would drill  boreholes in  selected Senior high schools (SHSs) in a project dubbed “Quench and Connect for our main Campaign”.

The General Manager noted that “the interesting thing about Yello Care is that it has what I call a ‘competition for good’
element in it, so the winning country among 19 countries gets a cool $100,000. Isn’t that
wonderful? MTN Ghana, having previously won the Y’ello Care Challenge in 2010 and 2011,
is well positioned to win the challenge for the third time as we celebrate MTN’s 30th
anniversary.”

He, therefore, expressed his profound gratitude to all MTN employees for their contributions to the success of Y’ello Care over the years.

“This is why I encourage every single MTNer in Ghana to participate. I fully support this, and I
urge you to join fully,” he added.

He also thanked their esteemed partners for this year for their support in ensuring the success of the 2024 edition of 30 Days of Y’ello Care. “Your support is greatly appreciated!” he added.

Representatives of the selected beneficiary SHSs, including the representative of the Ejisu Municipal Education Director, Mr Kwabena Owusu, were full of praise for MTN Ghana for its decision to drill  boreholes for selected schools, among other interventions.

Source: tntnewspapergh.com

 

MTN marks three decades of operations, celebrating a legacy of connecting people, changing lives, and driving economic growth across South Africa and the African continent.

 

“As we reflect on this significant milestone, we express our sincere gratitude to all our stakeholders, past and present, across multiple jurisdictions, for their support,” said MTN Group President and Chief Executive Officer Ralph Mupita. “We couldn’t have achieved this remarkable success without you.”

 

Since its inception in 1994, MTN has evolved from a small South African start-up with 20 employees into a global telecommunications leader, employing over 17,500 individuals representing more than 70 nationalities across 18 diverse markets.

In South Africa, MTN’s impact has been profound. The company’s network now reaches 97% of the population, providing a foundation for digital inclusion and economic empowerment. By investing in cutting-edge technologies like 4G and 5G, MTN has ensured that South Africa remains at the forefront of technological advancement. A recent study by KPMG showed that MTN South Africa’s contribution to the country’s GDP is substantial, making it a key player in the national economy.

 

The evolution of handsets and the proliferation of apps have democratised access to information and essential services, from financial solutions to healthcare, education, and entertainment. This has been a game-changer for individuals and businesses alike.

 

MTN’s influence extends far beyond South Africa. In 2023, the MTN Group recorded over R220 billion (more than US$11 billion) in revenue, a testament to its market leadership and the growing demand for digital services across Africa. This success has driven the company’s market capitalisation to over R150 billion, solidifying its position as one of the continent’s most valuable companies.

 

Across Africa, MTN connects millions, empowering them with essential communication tools and access to vital services.

More than 149 million people rely on MTN’s network for data access, fuelling a digital transformation that is reshaping industries and societies. Additionally, MTN Mobile Money (MoMo) provides over 65 million individuals with access to financial services, driving financial inclusion and economic empowerment in underserved communities.

 

MTN’s commitment to socio-economic development is evident everywhere. In 2023, the Group’s total tax contribution to governments across markets was nearly R62 billion (over US$3.3 billion), supporting vital public services and infrastructure development. MTN’s operations also generated some R159 billion in economic value, creating jobs, stimulating economic activity, and fostering digital innovation.

 

From the outset, the Group has been driven to make a social impact. Launched in 2001, the first MTN Foundation had an annual budget of R22 million. In 2023, MTN spent ten times that – R220 million – in corporate social responsibility across markets, with a special focus on developing digital skills to enable the digital economy.

 

Furthermore, both MTN Group and MTN South Africa have achieved Level 1 Broad-Based Black Economic Empowerment status, underscoring their commitment to diversity, inclusion, and social transformation.

 

MTN’s dedication to giving back is embodied in the annual “21 Days of Y’ello Care” initiative, which has been extended to 30 days this year to commemorate the 30th anniversary. Kicking off on June 01, 2024 under the theme “Learn Today, Lead Tomorrow: Education for Rural and Remote Communities,” this initiative mobilizes MTN employees across the continent to dedicate their time and resources to enhance educational opportunities.

This year, the focus is on bridging the educational divide in rural and remote areas, providing digital learning tools, and supporting educational infrastructure to empower the next generation of leaders within these communities.

 

MTN’s 30-year journey is a testament to the transformative power of technology and the unwavering spirit of innovation. Looking to the future, MTN remains dedicated to bridging the digital divide, empowering individuals and communities, and driving Africa’s sustainable and inclusive progress through cutting-edge digital solutions.

 

 

 

 

 

Source: Kenneth Awotwe Darko

Ghanaians must brace themselves to pay more for electricity starting next month.

The Public Utility Regulatory Commission (PURC) gave this indication in its second quarterly review for 2024.

According to the commission, residential electricity consumers will see an upward adjustment of 5.84% in rates.

The May 31 statement added that tariffs for lifeline consumers will see a 3.45% increase.

“…there will be 3.45% increase in electricity tariffs for lifeline consumers (0-30kWh); 5.84% increase for all other residential consumers who are not part of the lifeline category bracket (31 kWh and above) as well as the non-residential category,” the PURC said.

However the industrial category “will experience an increase in electricity tariffs of 4.92%.”

For water, Ghanaians will see “an increase of 5.16% for all customer classes for the period under review.”

The changes will kick in from July 1, 2024, to September 30, 2024.
In a statement signed by PURC’s Executive Secretary, Ishmael Ackah, the reviews were undertaken in line with the Commission’s Quarterly Tariff Review Mechanism, which tracks and incorporates movements in key uncontrollable factors, namely the exchange rate between the US$ and the Ghana Cedi, domestic
inflation rate, the electricity generation mix, and the cost of fuel, mainly natural gas.

The commission says it also considered the competitiveness of industries and the general living conditions of the Ghanaians in arriving at this review.