In the past couple of years, the Bank of Ghana has undertaken several measures to strengthen the financial industry and enable players to participate in the emerging sectors of the economy. Some of these measures include the increase in the minimum capital requirement, licencing of the microfinance industry amongst others. There has been a varied response to these measures. The increase in the minimum capital requirement, for instance, is considered by some local bank executives to be disadvantageous to local banks and giving foreigners greater control and influence. As part of efforts to also participate in a bigger way, BEIGE Capital -- a savings and loans company -- has begun positioning itself strategically.   Two of the company’s senior managers, Dawda Hafisdeen, Head of Region for Ashanti, and Jonathan Sam, a Branch Chief Executive, went on a study tour of Kenya, the economic powerhouse of East Africa and home of Micro Finance excellence in Africa. This tour was to study the success-story of some of the leading banks in Kenya so BEIGE Capital could benchmark itself with best international practice. BEIGE Capital is getting ready to go national by 2014 and continue to make significant contributions to the fast-growing financial sector. The tour afforded the team an opportunity to have a practical feel of the banking industry in Kenya, and to also learn aspects that can help improve our operations and service delivery. The team also learnt strategies used by these leading banks that make them very successful among the 43 banks in Kenya. It also shared experiences with senior management of these banks on product development and innovation. At BEIGE Capital, human capital is considered the most important asset. As a result, such study tours also form a part of the executive development programme of BEIGE Academy, the Learning and Development arm of The BEIGE Group.  In a related development, the progressive strides the company is making was once again recognised when the Company won the Young Professional Role Model Award -- Organisation Category awards by Young Professionals Youth Coalition Initiative -- and Mike Nyinaku, the CEO of the company, was also awarded the Financial Services Excellence and Youth Personality (Male Category) Awards at the recently held National Youth Achievers Awards. BEIGE Capital started operations in 2008 and currently has branches located in Accra, Tema, Kasoa, New Abirem and Kumasi. It is a subsidiary of The BEIGE Group, a Ghanaian-owned investment firm with interests in finance, hospitality, real-estate, logistics and mining.

By Patrick PAINTSIL The Swiss government has offered aUS$3.5million grant to provide employment opportunities and support for young entrepreneurs in the fashion and fabric industry of the country through the “Ethical Fashion Ghana Project”. The project, which is a joint effort between Switzerland’s State Secretariat for Economic Affairs (SECO), the International Trade Centre (ITC) and the Ministry of Trade and Industry, will improve the economic conditions of poor communities by creating jobs through the establishment of a sustainable supply chain in textiles, fashion and lifestyle products. This chain will be created by the establishment of links with the fashion-design industry in Europe so as to make local fashionmakers respond to current needs of the international market. Mr. Andrea Semadeni, Swiss Ambassador to Ghana, said the Ethical Fashion Project will propel products of young entrepreneurs and designers in the fashion and textile industry onto the international fashion value chain, and will offer benefits to various players in the creative sector. “Through engaging weaving communities, raw material suppliers and other artisans involved in textile and lifestyle accessories development, the extended company concept will be applied to create a network of participants and beneficiaries from different businesses and corporate bodies and across several local indigenous communities in the country. “The initiative is the first of its kind in West Africa and emphasises SECO’s development cooperation approach of empowering institutions and businesses for sustainable self-reliance. “It will be an excellent messenger of a different Africa; one that creates jobs based on deep-rooted traditions, skills and creativity for consumers’ passion -- that is, African fashion,” he noted Mr. Semadeni said the initiative is unique in that it does not intend to boost the fringe market of ethical fashion but rather assist in the conversion of the mainstream fashion market into an ethical one. The Ethical Fashion Initiative concentrates equally on three pillars: identification of the demand of the business; response from the local market and fulfillment of social; and labour and environmental standards. It is part of SECO’s country strategy for private sector development in the country to support advancement of a competitive and sustainable export economy. The project particularly seeks to contribute to the diversification of exports while increasing the share of non-traditional export products to the GDP of the country. SECO also focuses on fostering transparency in public finances, improving sound macroeconomic policies, and improvement of public utilities in the energy sector.

Mr. S.O Peprah, manager of the Nima Roundabout Goil Service Station, was last Friday night selected as the Overall Best National Dealer at an awards and dinner dance ceremony held at the La Palm Beach Hotel in Accra to honour Goil dealers throughout the country. He got the top award for exceeding “Category A” monthly fuel sales target set by the company and took home a plaque, and an undisclosed motivational package. In a brief address, the chairman of the Goil Board, Prof. William Asomaning, acknowledged the  tremendous contributions of the dealers to the sustained growth of the company, saying that, “without you, there will be no Goil.” Other award winners in “Category A” were: Ramboll Company Limited – Dansoman Roundabout Goil Service Station (2nd Best National Dealer), Mr. Gaby Salloum –Madina Ogbojo Goil Service Station and Asonaba Company Limited – Oduom Goil Service Station, Kumasi, (3rd National Dealers), while Mr. S.K. Hoenyedzi – Guggisberg Avenue Goil Service Station and Senelloyd Limited of Ashalley Botwe won the 4th and 5th (National Best Dealer) respectively. Winners in “ Category B” who  exceeded their monthly fuel sales target were: Linda D’or – Bunso  Junction Goil Service Station (Best Dealer), Mr. Kwesi A. Abebrese – Afrancho Goil Service Station (2nd Best Dealer) and Dan Owusu  Enterprise – Kentikrono North Goil Service Station (3rd Dealer). “Category C” winners  included:  Pacfad Company Limited – Mile 11 Goil Service Station (Best Dealer), Karaj Enterprise – Ho Sokode Goil Service Station (2nd Best Dealer), and Mr. Kwesi Essan – Ngleshie Amanfrom South Goil Service Station (3rd Best Dealer). Winners of  “Category D”  were:  Alhaji A. Habibu –Twifo   Goil Service who was adjudged the Best Dealer, with Mr. Kwadwo Fordjour – Juabeng  Fuel Station (2nd Best Dealer) and  Mr. K. B. Aboagye –Winneba Lorry Park Goil Service Station (3rd Best Dealer). Other Goil dealers who were given special awards included Mr. Francis K. Dzah –Hohoe Service Station (Most Improved Dealer), C.K. Services – Medoma Goil Service Station (Best New Entrant), Ramboll Company Limited – Dansoman Roundabout Goil Service Station (Best Housekeeping, Safety, Security and Environmental Practices),  Sitona World Class Limited – South Industrial Area, Accra (Best Lubricant Distributor), and Auto Gas Limited –Dansoman (Best LPG Dealer). Goil also awarded its zonal distributors who excelled, and they were: Mr. Anane Thompson – Kwame Nkrumah Circle Goil Service Station (Best Dealer- Southern Zone), Prudent Markcom Limited –Lashibi Goil Service Station, (Best Dealer -Tema Zone), Mr. A. K. Edzii – Airport Roundabout Goil Service Station, Takoradi (Best Dealer – Western Zone), Mr. V.Y. Odei –Ayigya Goil Service Station, Kumasi (Best Dealer –Mid-Belt Zone), and Alhaji Abdul Rahaman – Wa Airport Goil Service Station, Wa (Best Dealer –Northern Zone). All the award winners took away various prizes including a plaque and citation.Earlier at a dealers conference held at the same hotel where the company took stock of its performance during the year and also looked at plans for the future, the Managing Director of Goil, Mr. P. A. K. Akorli, said as the largest fully indigenous Oil Marketing Company, Goil’s vision is to be the best good energy provider in the country and beyond. He said the dealers conference therefore, was one of the platforms for management and the dealers to strategise to stay on top of the competition in the energy sector. He called on the dealers to be part of this dream and help Goil to grow more and provide jobs for the unemployed. He urged the dealers not to forget that as an indigenous company all the profits Goil will make will remain in Ghana; adding that “ the  rebranding of the company with a new logo earlier this year shows the new face of Goil and the company is determined to sustain its dominance in the retail sector of the oil industry”.  Mr. Akorli said Goil had moved into new areas in the sector and is now supplying   aviation fuel especially for helicopters being used to prospect for oil in the Western Region. He also hinted that Goil will soon enter the renewable energy sector especially the provision of wind power.

By Kwame Mensah - Tema A multi-million dollar 3-star hotel, believed to be the leading hotel in the flourishing harbour city of Tema, has commenced business in earnest. Situated in a serene environment of Community 6, the Royal Nick Hotel is expected to add a new dimension to the hospitality industry of the area. The hotel with a capacity of 76 well-furnished rooms is rated the No.1 in Tema by TRIP Advisor, the world’s most important consumer site where hotels and restaurants are rated, Mr. Ronald Stilting, General Manager of the Royal Nick Hotel, told journalists in Tema to unveil the hotel to prospective guests. He said the hotel with its modern architecture and leisure facility has a 65-capacity restaurant, a private dining room, 250-capacity conference room, lunch bar, swimming pool and effective security system among others. For accommodation, the hotel has 28 de-luxe executive rooms, 42 standard rooms, 3 presidential suites and 3 family suites -- all at every competitive prices. He said staff of the hotel is well-trained to provide professional quality services for guests. He said the Royal Nick Hotel has come at the right time to save the numerous foreign and local business executives who often travel to Accra to seek suitable hotel accommodation after their daily business transactions in the city. Also, the hotel has 24-hour reliable Airport shuttle at the disposal of its guests. He urged corporate bodies in and around Tema to call at the Royal Nick Hotel for any programme they desire. Present at the ceremony were the Managing Director of the Royal Nick Hotel, Mr. Nick Adjei Darko; Sales and Marketing Manager, Ms. Belinda Miranda Annan; Food and Beverage Manager, Mr. Franck Amudzi, and some other officials of the hotel.

Students and educational institutions in the Central region have received free laptops from government. The Minister of Environment, Science and Technology, Sherry Aryeetey led the distribution exercise which lasted several hours. In all, 2,554 laptops were distributed to individuals and educational institutions made up of polytechnic, teacher training colleges, nursing training colleges, universities and senior high schools. The distribution of the free laptops is part of ministry’s Better Ghana Laptop project under which laptops are distributed to institutions and individuals to promote research, teaching and learning.Sector Minister, Sherry Aryeetey commended government for mooting the initiative. She expressed the hope the equipments would stimulate academic performance in schools.Central Regional Minister, Ama Benyiwa-Doe said the government is working tirelessly to ensure transformation of the economy with emphasis on growth and human capacity building. Similar distribution have taken place in the three Northern regions and Volta regions.

By Ekow Essabra-Mensah Government says it has approved a public-private partnership (PPP) policy and is revamping its public investment plans to diversify the sources and vetting of public infrastructure programmes.  â€œThe developments of the PPP policy will enable the private sector to become an investor transparently in the development of economic and social infrastructure for purposes of accelerating the pace of closing the national infrastructure gap. It also expands the scope of private sector business opportunities.” Mr. Paul Victor Obeng, Chairman of the National Development Planning Commission (NDPC), explained in Accra that approval of the policy gives confidence to both local and international investors who would want to participate in PPPs with government. The NDPC has been mandated to prepare a national infrastructure plan for Ghana, and every PPP project initiated by contracting authorities will emanate from this plan. The Attorney-General’s Department, with the assistance and advice of the Legal Division of the Ministry of Finance and Economic Planning (MoFEP), will ensure the conformity of all project agreements with Ghanaian law. The country is presently faced with a huge infrastructure gap averaging US$1.5billion per annum for the next decade. This is required to bring the nation’s infrastructure to the recommended status of a middle-income country. “The constraint of available resources-lack provides government with the ability to look for other innovative means of financing and procuring these projects and thereby expediting the delivery of the required infrastructure,” Mr. Obeng said. The country’s development partners, including the World Bank’s International Development Association, is to finance the PPP project with a US$30.0million credit facility over a five-year period. This is to assist in the improvement of legislative, institutional, financial, fiduciary and technical frameworks for PPPs and develop bankable projects.   Mrs. Magdalene Apenteng, the Director of the Public Investment Division (PID) of the Ministry of Finance and Economic Planning (MOFEP), has explained that the credit is intended to assist government increase targetted infrastructure and other social services levels and quality by mobilising private sector participation through a public-private partnership model. Government is seeking Public Private Partnerships to finance the construction of five key infrastructure projects in the country. They are the rehabilitation and expansion of the Tema and Takoradi Ports; construction of Korle Bu Diagnostic Centre; conversion of the Accra-Takoradi road into a dual carriageway; Accra-Tema motorway  rehabilitation and, expansion; and rehabilitation, expansion and upgrading of Kotoka, Tamale, Kumasi and Takoradi Airports Mrs. Apenteng said the plan is in line with government’s policy to use private capital to finance infrastructure projects and services in the country. “The five projects are not the only ones we are looking to construct with private capital,” she stated, and said: ''In the long-term government, wants to use an  Infrastructural Finance Facility under the PPP to finance infrastructure projects and services such as the expansion of the Accra, Takoradi, Kumasi and Tamale airports.” In view of the growing difficulty and high cost in raising capital to finance key public infrastructure projects, government in 2011 launched a PPP-policy to seek private capital in development of the country. The objective of the PPP, among other things, is to leverage assets and funds with private resources from local and international markets to accelerate needed investments in infrastructure and services. Hitherto, government had been depending on its own revenue resources to finance infrastructure projects and services -- making it difficult to expand and improve on those facilities.

Guinness Ghana Breweries Limited (GGBL) was on Saturday  presented with two top awards at the maiden edition of the Ghana Industries Awards organized by the Association of Ghana Industries (AGI) The awards seek to recognise, celebrate and reward deserving Industrial businesses that excelled in 6 categories for the year 2011.  GGBL received the top awards for Best Practices in  Sustainable manufacturing and Best Company – Corporate Social Responsibility in recognition of the company’s adherence to world class best practice in sustainable manufacturing across its entire operations – from sourcing to packaging – and for its community investment initiatives which have and continues to enrich lives and empower local communities across the country. Nominations for the awards are made and voted for by AGI member companies. The other four categories were Overall Best Industrial Company, Best Employer of the Year, Fastest Growing Business of the Year and Young Enterprise Award.   Receiving both awards, Peter Ndegwa, Managing Director, GGBL said “Sustainability is central to our operations and cuts across everything we do as a business – from sourcing raw materials to packaging, from reducing our environmental impact to the sustainable impact we make in the lives of communities. Our commitment to adopt and adhere to the highest standards in sustainable manufacturing is one of the reasons why we remain the market leader in all the 5 drinks categories in which we compete – endearing us to the hearts of our cherished consumers”. He continued “In service of our ambition to best practices in manufacturing, the business is investing £26.4m to expand the production capacity of our flagship Kaasi brewery and a further £2.5m to revamp its Effluent Treatment Plant in the Kaasi brewery - to further improve the quality of waste-water discharged from the brewery -- and a Biogas facility for the Achimota brewery” He thanked organizers of the awards and Corporate Ghana for nominating GGBL. Speaking at Awards, AGI President, Nana Owusu-Afari, said “This Awards will be positioned as the topmost industry Awards to celebrate and recognise member companies who have excelled in the 6 categories. Through this, the AGI aims to promote high standards within its member companies’. He continued “on behalf of the AGI, I wish to congratulate all companies who were nominated and especially those who won in the various categories’.  GGBL has in recent times received multiple Awards for its community investment initiatives – the company was in September awarded Second Best company in CSR at the prestigious Ghana Club 100 awards and its Water of Life programme – a commitment to enable sustainable access to safe drinking water to Ghanaians in vulnerable communities – was recognised at the Ghana CSR Diary and Awards 2012 on 16 November. Mr Ndegwa,(second from left) with Award. With him are officials from GGBL and David Murethi MD, Unilever (extreme left).