MTN Ghana wishes to inform its cherished customers and trade partners that, its scratch cards which was last introduced in trade in 2020 is being totally phased out effective 30th June 2024.
This means that customers who still have unused MTN scratch cards cannot recharge them after 1stJuly 2024, however customers can redeem the value of their scratch cards via Credit transfer (EVD) at any MTN Customer Experience Centre.
This is also in line with MTN’s strategy to lead digital solutions in Ghana and beyond and aligns with the Government of Ghana’s digitalisation agenda. MTN customers are encouraged to continue using existing digital channels including MoMo, Ayoba and myMTN app to recharge. As part of our commitment towards a clean environment, customers enjoy 50% bonus on all recharges done via Mobile Money.
Commenting on the withdrawal of scratch cards, the Chief Sales and Distribution Officer, Mr Samuel Addo said, “the phasing out of the scratch cards is one of the avenues to help us protect the environment, empower customers to drive digital usage and make customer service delivery more efficient”.
In line with MTN’s sustainability strategy, the company continues to implement several initiatives to reduce its environmental footprint including waste reduction programs, water conservation measures as well as other energy-saving initiatives.
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Media Contacts:
Adwoa Wiafe
Chief Corporate Services and Sustainability Officer
Email: MTNGhana.MediaOffice@mtn.com
The Executive Director of the National Folklore Board, Bernice Ann Deh-Kumah says Ghana is expected to be officially acclaimed by the United Nations Educational, Scientific and Cultural Organization (UNESCO) as the “originator” of Kente globally at the end of 2024.
Kente is a type of silk and cotton fabric made of interwoven cloth strips mainly worn by Ghanaians.
She said Ghana has no recognition in world folklore by UNESCO, so they are working to get our symbols, music, food and all our identity into the UNESCO system.
Kente cloth Bernice Ann Deh-Kumah
According to her, Ghana will be given recognition as the creator of Kente so that will be news across the whole world and it will create a market for people in Ghana and after that they move to highlife.
The National Folklore Board is under the Ministry of Tourism, Arts and Culture as a state agency.
The National Folklore Board, is the statutory body established and mandated under the Copyright Act, 2005 (Act 690) (the “Act”), to administer, register, promote and protect Ghanaian expressions of folklore on behalf of the President and for the people of Ghana.Source: Prince Baffour Asamoah/Peace FM Newsroom
Former Railways Minister, Joe Ghartey has been appointed by President Akufo-Addo to chair the re-constituted Board of the Ghana Revenue Authority (GRA).
Other members of the 9-Member Board, which is chaired by the Member of Parliament for Essikado Ketan Constituency include: Dr. Alex Ampaabeng a tax and fiscal policy enthusiast, who is the representative of the Finance Ministry, Second Deputy Governor of the Bank of Ghana Elsie Addo Awadzi, and Commissioner General of the GRA, Julie Essiam.
The rest are the Deputy Minister of Trade and Industry Micheal Okyere Baafi who is on the board as the representative of the Trade Ministry, Immediate Past Municipal Chief Executive of Asante Akim, Madam Susan Akomea, who is on the board as a representative of the President , Madam Araba Bosomtwe Another representative of the President. Mr. Kwabena Abankwah Yeboah, a fellow of the Ghana College of Pharmacist is also joining the board.
Inauguration of the 9 Member Board
Inaugurating the Board today, May 22, 2024, the Finance Minister, Dr. Mohammed Amin Adam charged the members to work hard to help improve Ghana’s revenue mobilization drive.
“We must improve revenue mobilization to achieve our medium-term revenue target of 18%-20% tax/GDP ratio and we must meet all indicative targets and structural benchmarks related to revenue under the Fund programme”, he said.
He urged the members to bring their experience on board to help reduce waste in the system while improving revenue collection.
“Given your extensive backgrounds and professional expertise, I am confident that each Board member will meet the expectations of government, and the general public”, he stressed.
Dr. Adam promised to support the efforts of the board members with the open-door policy.
“I am available to meet at short notice and also want to see more regular updates on revenue performance to ensure we remain aligned and focused as we advance”
The Finance Minister reminded the 9 member board that; “We must leave the inauguration with a dedicated resolve to change the narrative and eclipse a 20% threshold of revenue to GDP within the shortest possible time”
Dr. Adam encouraged the board members not to forget that the country’s obligations under the International Monetary Fund-supported Post COVID Programme for Economic Growth.
The Minister also charged the 9-member board to immediately deal with fundamental human resource issues, particularly concerning promotions, capacity development, and sub-optimal physical working conditions will be critical.
Background
The Board of the GRA, is being reconstituted after the former Board Chairman, Dr. Tony Oteng-Gyasi resigned from his position.
This resulted in the dissolution of the entire board. In response to this development, President Akufo-Addo appointed Ms. Julie Essiam as the new Commissioner-General of the GRA, succeeding Rev. Dr. Ammishaddai Owusu-Amoah.
Dr. Oteng-Gyasi assumed the role of Board Chair of the GRA in August 2021, succeeding Professor Stephen Adei.
Members of the dissolved board included Ammishaddai Owusu-Amoah, Adelaide Ahwireng, Prof. Peter Ohene Kyei, Kwabena Boateng, Dela Obeng-Sakyi, Maxwell Opoku-Afari, and Nana Ama Dokua Asiamah-Adjei.
Dr. Oteng-Gyasi, a former President of the Association of Ghana Industries and Managing Director and Chairman of Tropical Cable and Conductor Ltd, took over the role of Board Chair following Professor Stephen Adei’s tenure from 2019 to 2021Source: Joy Business
Amoamanhene and Asantehene’s Representative on the Kumasi City Market project, Nana Agyemim Boateng, has clarified that ” there is no missing or unaccounted for amount of GHC3.6 million as indicated by the Kumasi Metropolitan Assembly (KMA).
Speaking on Ghanakoma morning show on Akoma 87.9fm in Kumasi with Aduanaba Kofi Asante Ennin, Nana Agyenim Boateng, who is also the Vice Board Chairman of Kumasi City Market, said the loan they took from the Fidelity Bank has been duly disbursed.
Nana Agyemim Boateng
He stated that, the entire amount of GHC8.6 million disbursed for phase 1 of the Krofrom Market project comprised GHC4 million from Fidelity Bank’s approved facility of GHC5 million and the KMA’s own funds of GHC4.6 million disbursed from their contribution of GHC5 million towards the project”.
He said this move helped them to complete 2,304 stalls around May 2021.
“The inability of the Assembly to give those shops to traders is due to lighting issue,” he explained.
Last week, City authorities said they are exploring alternative sources of funding to complete the building of the Krofrom Market which has been abandoned for many years.
The project, which started under the former President John Agyekum Kufuor administration, was left uncompleted due to funding challenges, leaving the project in a state of disrepair.
The market, which has been abandoned for over 20 years, has sparked a growing agitation among traders and residents in the city with many threatening series of protests.
Nana Agyenim Boateng said the assertion by the KMA on the missing GHC3.6 million is a move to discredit the work of the board and past managers of the Assembly.
“This is a calculated attempt to discredit our works, but it will not work”, he said.
He noted that, the Asantehene, Otumfuo Osei Tutu II, is committed to the general development of Asanteman, for which cause he has achieved a lot over the years.
The chief paid a glowing tribute to Otumfuo Osei Tutu II for his total commitment towards the development of the region since assumption of the Golden Stool 25 years ago.
“The King has virtually been the brain behind all the monumental projects that had taken place in Kumasi and other parts of the region for quite a long time.
The King was directly involved in a number of projects such as the Kejetia and Central Market Redevelopment Projects, the Jubilee Market at Krofrom and others.
He mentioned that in some instances, the King had to personally provide funds and serve as a guarantor to some banks before monies could be made available for projects to start or continue, as well as release parcels of land worth millions of dollars following his commitment to ensure development.Source:Benjamin Aidoo; 3news
Accra 16th May 2024. The Chief Executive Officer of MobileMoney Limited (MML), Shaibu Haruna, has emphasized the need for collaboration between financial institutions and fintech companies to develop a more robust financial ecosystem.
He made this statement during a panel discussion on “Banking and Fintech interactions: Balancing Innovation Risks and Inclusion” at the 3i Africa Summit held in Accra.
Mr Shaibu Haruna spoke alongside Valentine Obi, the Founder and CEO of e-Transact Group, Corine Mbiaketcha Nana, Member of PAPSS Management Board, Afreximbank and Romeo Bugyei, CEO of IT Consortium Ghana. The session was moderated by Djiba Diallo, Senior Fintech Advisor, Ecobank Transactional Incorporated and was titled “Banking and fintech Intersection: Balancing Innovation, Risks, Inclusion Banking”.
Mr Shaibu Haruna
Mr. Haruna urged stakeholders in the financial sector to collaborate rather than compete to build trust and work together to serve clients’ needs better.
He said, “Mobile Money has been around for 15 years. When we began there was some resistance, but it has moved to acceptance. At the core of our success are the banks. There is an interplay between the bank and the other parties.
We have built a good business from a transactional point of view but there is still an opportunity to do more. We are exploring innovative ways to provide clients with credit.”
He noted that as key players in the FinTech space, “we need to view each other as collaborators with the common goal of providing better services to our clients”. He said, “this can only be achieved through trust, which is nurtured and built on understanding the objectives.
We should let go of the competitive mindset and explore innovative ways to partner and collaborate to deliver value to our clients”. He stated that to accomplish this, there must be a shared understanding of the purpose of making a positive impact on individuals, communities, and businesses.
Mr. Haruna emphasized MobileMoney Limited’s commitment to collaborating with FinTechs to create a smooth customer experience. He noted that, “I am grateful to the organisers of this program for bringing all stakeholders together to have the necessary discussions.
At MobileMoney Limited we are very open to collaboration. We invite all FinTechs to come on board and work with us to build the financial ecosystem we are working towards achieving. The goal is to see our customers have a seamless experience across all our platforms”.
The 3i Africa Summit is a global event focused on transforming Africa’s economic landscape through sustainable, long-term capital allocation. It addresses the critical need for a sustainable growth framework in Africa, emphasizing inclusion and sustainability at its core.
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Media Contacts:
Adwoa Wiafe
Chief Corporate Services and Sustainability Officer
The Chief Executive Officer of MTN Ghana,Stephen Blewett has emphasized the relevance of Africa’s FinTech ecosystem in driving digital revolution across the African continent. He made the statement at the opening of the 3i Africa Summit ongoing at the Accra International Conference Center.
Stephen Blewett- CEO MTN Ghana Addressing delegates at the 3i Africa Summit
The summit is being organized under the theme ‘Unleashing Africa’s FinTech and Digital Economic Potential,’ and provides an opportunity to foster collaboration among diverse stakeholders to drive innovation across Africa.
The 3i Africa Summit is a collaborative initiative by the Bank of Ghana, Development Bank of Ghana, and the Monetary Authority of Singapore to showcase and stimulate Africa’s FinTech and digital potential. It is a groundbreaking global event focused on transforming Africa’s economic landscape through sustainable, long-term capital allocation.
In his address, Mr. Stephen Blewett highlighted the importance of the African fintech ecosystem as a driving force towards a digital revolution. He said, “Africa’s fintech ecosystem is the engine that will drive its digital revolution and economic development in the coming years. Fintech can stimulate local economies and drive progress across the continent in several ways – financial inclusion, innovation and entrepreneurship, job creation, cross-border transactions and payments, digital identity and security, agriculture and rural development, government services, investment, and funding, as well as digital and financial literacy.
The success of services like MTN’s Mobile Money and Vodafone and Safaricom’s M-pesa provide sufficient evidence of the ability of fintech to revolutionize business on the continent and provide millions of people with access to essential financial services.”
He added, “Despite these gains, Africa lags far behind the world in mobile adoption and innovation. Constraints such as low infrastructure coverage, affordability of data and smartphones, and lack of digital skills training continue to inhibit access to the Internet among vulnerable groups, especially women.
We must therefore make every effort to remove these bottlenecks and close the usage gap by improving data coverage and lowering the cost of data and data-enabled devices especially in rural and low-income areas and enhance digital literacy.”
A cross section of participants at the Summit
Stephen Blewett also spoke on the issue of sustainability and urged business leaders and policymakers to contribute to ensuring that the right ESG practices remain key in their commercial activities.
“We must not lose sight of the impact that our actions have on our environment and society and strive towards creating shared value in business outcomes. We must progressively reduce our carbon footprints by investing in renewable energy, and other energy-efficient tools and technologies that lead to efficiency. We must take up the challenge of placing Environment, Social, and Governance (ESG) at the heart of our commercial activities and support the achievement of the UN’s Sustainable Development Goals. I believe that together, we can shape an Africa that not only thrives in the digital age but also serves as a shining example of inclusive and sustainable development.”
Other speakers from MTN are Shaibu Haruna, CEO of Mobile Money Limited Ghana and Eli Hini, CEO MoMo PSB, Nigeria. The rest are Cedric Nguessan, MTN Group Finco Payments and E- Commerce, Angela Mensah-Poku, Chief Enterprise Business Officer MTN Ghana, and Dario Bianchi, Chief Digital Officer, MTN Ghana.
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Media Contacts:
Adwoa Wiafe
Chief Corporate Services and Sustainability Officer
FIDELITY BANK GHANA LTD CLARIFIES ISSUES RAISED BY KMA REGARDING THE REDEVELOPMENT OF THE KMA-KROFROM MARKET PROJECT
Accra, May 11th, 2024 – Fidelity Bank would like to clarify some aspects of a press release issued by the Kumasi Metropolitan Assembly (KMA) on Friday, May 10, 2024, regarding the Krofrom Market Redevelopment Project. Below are the facts:
• In November 2020, KMA transferred an amount of GHS 5 million as advance mobilization into the KMA-Krofrom Market Redevelopment project account held at Fidelity Bank. Readers should kindly take note that these initial funds were from KMA’s own resources.
File picture
• In December 2020, at the request of KMA, Fidelity Bank approved a GHS 5 million short-term loan facility for the KMA-Krofrom Market Redevelopment project which was to be disbursed in phases based on the progress of work done.
• In February 2021, Fidelity Bank disbursed GHS 4 million out of the GHS 5 million approved short-term facility to KMA. The Assembly (KMA) then utilized the facility of GHS 4 million together with their own funds of GHS 4.6million to support payments to project contractors amounting to GHS8.6 million under the first phase of the project
• In December 2021, KMA paid off the total outstanding facility of GHS 4 million to Fidelity Bank.
• From the foregoing records of Fidelity Bank Ghana, there is no missing or unaccounted for amount of GHS 3.6 million as indicated in KMA’s release. The entire amount of GHS 8.6 million disbursed for Phase 1 of the project comprised GHS 4 million disbursed from Fidelity Bank’s approved facility of GHS 5 million and the KMA’s own funds of GHS 4.6 million disbursed from their contribution of GHS 5million towards the project.
• Fidelity Bank reiterates that it has consistently maintained open communication channels with KMA regarding the project fund, exchanging letters and emails since April 5, 2023, to address inquiries and concerns. We have provided all necessary information as of September 27, 2023, and remain open to further communication. All correspondence is on record.
We would like to assure KMA and the public that we are fully committed to cooperating with any investigations or inquiries to address this matter comprehensively. Our priority remains upholding the highest standards of transparency, accountability, and integrity in all our dealings.
Fidelity Bank remains steadfast in our commitment to serving the best interests of Ghanaians, our clients and the communities we operate in.
