By Dominick Andoh Rural farmers have called on President John Dramani Mahama to refocus attention on implementing targetted policies to address the myriad of problems they face. According to Agro Mindset Organisation, a farmer-based organisation, a concerted effort to ensure access to credit facilities to expand and modernise their operations, availability of improved and subsidised seeds and inputs, and the construction of irrigational facilities is needed to ensure regular food production by rural farmers and improve on their standard of living.   Closer agricultural extension services, training in entrepreneurship and literacy, and the facilitation of the establishment of cooperative societies are the other necessities. Mr. David Asare Asiamah, the Executive Director of Agro Mindset Organisation, organisation in a statement said: “The rural poor are the people who deserve the support even more, because they have shown that they are fully committed to the art and science of growing food, and they would be able to make an even more meaningful impact if given adequate support.”                                                He called for the integration of farms in the country into value chains to provide new sources for agricultural products. This, according to him, will also enable smallholders to purchase better inputs, raise investment levels and create agribusiness practices that will create business-growth opportunities for smallholders. The annual domestic deficit in maize, the largest staple crop in the country which is largely cultivated by poor rural farmers, is estimated to be between 84,000 and 145,000 metric tonnes. The crop, which is the second largest commodity crop in the country after cocoa, accounts for 50-60 percent of total cereal production and is an important crop for Ghana’s agricultural sector and for food security. The shortfall in the production of the crop, which leads to higher prices, adversely affects small income families who rely heavily on it. The poultry industry is the hardest hit, as poultry farmers have to import expensive yellow maize to feed their birds. “Prioritising agricultural development, with some focus on the poor farmers, will yield significant, interconnected benefits, particularly in achieving food security and reducing hunger; increasing incomes and reducing poverty; advancing the human development agenda in health and education; and reversing environmental damage,” Mr. Asiamah said. He lauded the Youth in Agric initiative and said “there is the need to develop more of such policies to motivate young people to go into agriculture to sustain the sector and, at the same time, solve the problem of youth unemployment.”  

By Benson AFFUL A group of women from the Sagnarigu Women Centre for Shea Butter Production has pleaded to the government to support them to produce on a large scale. Safia Alhassan Andani, the leader of the group, in an interview with B&FT said before the centre was upgraded and inaugurated by the United Nations Development Programme (UNDP) and the Embassy of Japan, the women were into farming and petty trading. She said they later found shea butter processing a more lucrative business than what they were doing before. The Embassy of Japan funded the extension works with approximately US$85,933 under Japan’s Grants Assistance for Grassroots Human Security Projects (GGHSP) through Africa 2000 Network, UNDP’s implementing partner. The aim was to assist the Walewale and Sagnarigu centres to develop their shea butter processing capabilities through the expansion and improvement of their working areas. Safia said the centre does not employ any technological means to process the shea butter and this has resulted in low production. She reiterated the need for government to support them to enhance production, saying “even with these inadequate facilities we can produce five bags of shea butter a week.” The UNDP provided support in improving the production environment including providing electricity, pipe-borne water and water storage facilities; assisting them to acquire working tools; and improving shea butter processing skills through the UNDP-Japan Women in Development Fund. Safia said the women have formed a cooperative, known as “Suglo mbor buni” Women Cooperative. “Suglo mbor buni” literally means “with patience we can create wealth.” According to her, the cooperative enables them bargain well for the price of the products and also gives them a strong voice to solicit for funds. She said their main challenge is packaging of the products and acquiring certification from the Ghana Standard Authority, which will enable them to export some of their products to other parts of the world. She therefore called on the government to establish a Shea Butter Board to promote the industry.   The shea butter industry is reckoned to benefit close to two million poor people, about 95 per cent of whom are rural households, though its full potential is yet to be exploited. More than 900,000 women in the three Northern regions collect over 130,000 tonnes of dry nuts for shea butter production annually. The infant industry is an attractive business venture earning about US$30 million in foreign exchange for the national economy yearly.

By Basiru ADAM Although Ghana and Tanzania are on their way to benefitting from Compact II of the United States’ Millennium Challenge Account under Barack Obama’s watch, the Pan African Business Forum says the American president should step out of the shadows of his predecessors and do more for the continent to which he traces his roots. The forum, a conglomeration of statesmen, entrepreneurs and professions from across Africa, told journalists in Accra that Obama’s predecessors, in the persons of Bill Clinton and George W. Bush, oversaw the Africa Growth and Opportunity Act (AGOA) and the Millennium Challenge Compact respectively, “both of which have contributed immensely to the creation of wealth and the improvement in the living standards of the African continent.” Whilst congratulating Obama for his re-election, the President of the forum, Prince Prosper Ladislas Agbesi, called on him to draw up “a special agenda” for American assistance to Africa. “We hope, indeed expect, that President Obama, himself of African extraction, will commit to designing and driving an even more impactful development assistance programme, through which America can propel Africa’s economy. “This, we believe, would be a most profound and lasting legacy of President Obama when the history of the African renaissance within the global community is eventually written.” But the call comes at a time when Obama’s troubles back home do not seem to be easing as the US struggles with attempts to bring down deficits and stabilise its national debt. After negotiating an uneasy curve out of the so-called fiscal cliff, the country is weighing up the certainty of steep spending cuts to complement tax increases that were agreed in the fiscal cliff deal.In May 2000, President Bill Clinton initially signed the Africa Growth and Opportunity Act (AGOA) which provided trade preferences for quota and duty-free entry into the United States for certain goods from developing countries, including Ghana. AGOA expanded market access for textile and apparel goods into the United States for eligible countries, though many other goods are also included. This resulted in the growth of an apparel industry in some African countries, and created jobs. Then at the Inter-American Development Bank meeting on March 14, 2002, President George W. Bush called for a new compact for development which led to the establishment, by the American Congress, in 2004 of the Millennium Challenge Corporation (MCC), a bilateral United States foreign aid agency. In the first year of the compact, 17 countries were made eligible for an MCC grant, including Ghana, which received some US$547 million. After a “judicious” use of the package, only four countries globally, including Ghana, are said to be in line to benefit from a second compact.

By Dominick Andoh The Ghana Association of Microfinance Companies (GAMC) is to establish an investment vehicle to source funds for its members, Mr. Paul Aheto, Deputy Executive Secretary, has said. The initiative is to ensure that funds are readily available for on-lending to members of the association, and to strengthen the operations of micro-finance institutions in the country. He was speaking at a dinner to mark the first anniversary of BIK Microfinance Company Limited in Accra. Microfinance institutions under the tier-two are required to have a minimum paid-up capital of GH¢100,000, while tier-three institutions are required to have a minimum paid-up capital of GH¢60,000. The minimum capital requirement for savings and loans institutions is GH¢7million. Over the last few years, there have been renewed calls for close regulation of microfinance institutions (MFIs) to ensure compliance and limit depositors’ risks.  The Bank of Ghana (BOG) last month suspended the licences of three micro-finance institutions for non-compliance. “The Client Information and Compliant System (CICS) has been established as a system of redress for receiving clients’ feedback on poor services rendered them by member companies,” Mr. Aheto said. The Chief Executive Officer of BIK Microfinance Company Limited, Mr. Bright Mark Kelly, called on the BoG to intensify its supervision and monitoring  of the sector and close down unscrupulous and unlicensed MFIs who are still involved in illegal business. “Although the Bank of Ghana has taken steps to regulate, monitor and supervise the sector, there is still a proliferation of MFIs scattered all over the country with some still involved in illegal business,” Bright Mark said. He said the BIK’s strategic plan is to double its current customer base and to grow into a fully fledged 21st century bank within the next five years. “The company is committed to working in partnership with all stakeholders to develop the country’s financial sector and raise industry standards and best practices,” he said. BIK Microfinance Company started operations a little over a year ago. Within a year of its operation, the company has obtained a non-bank financial institution operating licence from the Bank of Ghana. The company offers excellent and reliable customer services and a wide range of banking products including investment banking, credit facilities, deposit products and business advisory services.

The Social Security and National Insurance Trust (SSNIT) has increased pension-in-payment for 2013 by a fixed rate of 12.0% and a flat amount of GHC21.36 per pensioner. This is in accordance with Section 80 of the National Pensions Act, 2008 (Act 766). This gives an overall indexation rate of 22.6% for the year 2013. In a press release signed by Ms Evangeline Amegashie, Corporate Affairs Manager, she said the minimum monthly pension will now be GHC100 for new pensioners, with effect from this month. Furthermore, all pensioners receiving monthly pension of less than GHC100 will be placed on a pension of GHC100 per month.

General Motors says it is consolidating its sub-Saharan Africa and North Africa operations into a new unit, GM Africa, with immediate effect . Mario A. Spangenberg, currently president and managing director of GM North Africa, will become president and managing director of GM Africa. He will be based at GM Africa’s headquarters in Port Elizabeth, South Africa. With this consolidation, Tarek Atta will become managing director of GM Egypt and North Africa, reporting to Spangenberg. Edgar Lourençon, who has served as managing director of GM South Africa and president of GM sub-Saharan Africa since November 2009, will assist in the transition and repatriate to South America later this year. “Bringing our operations in Africa together will enable us to take advantage of synergies across the continent,” said Tim Lee, GM vice president, Global Manufacturing, and president, International Operations. “It will put GM in a strong position to expand in a part of the world that has tremendous long-term potential for vehicle sales growth.” GM does business in more than 50 markets in Africa, and has manufacturing operations in South Africa, Egypt and Kenya. In 2012, GM sold 180,493 vehicles in Africa, an increase of 17.5 percent from the previous year. “We are pleased to have Mario, a proven leader and an agent of change, overseeing our Africa operations,” said Barnes. “He has done an outstanding job growing GM’s business in North Africa, despite intense political and economic challenges.” Spangenberg has been in his present position since July 1, 2011. He earlier held key posts in other parts of the world, including director of Sales Operations for GM de Mexico, managing director of International Sales for GM Daewoo Auto & Technology in South Korea, and director of Marketing for Adam Opel AG in Germany. He began his industry career in 1980 at Volkswagen. “We thank Edgar for strengthening our operations in sub-Saharan Africa,” said Lee. “In the short term, with his background and expertise, we will look for Edgar to provide his leadership in two critical areas – overseeing the launch of our new pickup in South Africa and further strengthening the Isuzu relationship.” General Motors and its partners produce vehicles in 30 countries, and the company has leadership positions in the world's largest and fastest-growing automotive markets. GM’s brands include Chevrolet and Cadillac, as well as Baojun, Buick, GMC, Holden, Jiefang, Opel, Vauxhall and Wuling.

The Board Chairman of Bond Financial Services, Mr. Peter Osei-Duah, has lauded staff for having contributed to the excellent performance chalked by the company last year . He also commended customers for their co-operation and indicated that Bond will continue to excite them with innovative products and other services in the year 2013 and beyond. He was speaking at an end-of-year cocktail held in Accra. The objective was to fraternise and show appreciation to all its loyal customers for a successful year of operations.   The event, which was attended largely by customers, management and staff, was graced by the presence of some members of the Board. The occasion was geared towards deepening the harmonious relationship that has existed between Bond and its customers. The Chief Executive Officer of Bond Financial Services Limited, Mr. George Ofosuhene, used the occasion to thank all customers for their unflinching support, reminding  them that, “doing business with Bond Financial Services Limited is much more than a simple business transaction but an opportunity for continued growth of one’s business and a stronger financial relationship.” He also thanked members of staff for their hard work and commitment to the company.

Vodafone has announced the appointment of Nana Yaa Ofori-Atta as Head of External Affairs. Nana Yaa joins Vodafone from Guinness Ghana Breweries Limited (GGBL), where, as Corporate Relations Director, she led the industry’s engagement with government in several high-profile policy changes.   As the Head of External Affairs at Vodafone, she is responsible for leading regulatory affairs, business continuity, corporate security and the anti-bribery and compliance agenda for the company.   Beyond delivering material commercial value, her drive and partnership also led to a number of landmark awards for GGBL in its compliance and Corporate Social Responsibility (CSR) platforms. An award-winning journalist and a communications specialist, she has worked with both local and international media covering current affairs and business news, and she has taught at two universities. Her career-consulting for the Investment Climate team of the World Bank Group saw her developing public policy platforms and investment-promotion strategies in a number of post- conflict and emerging markets including Liberia, Zambia, Southern Sudan and Rwanda.   Kyle Whitehill, CEO of Vodafone Ghana, remarked: “We’re very pleased to have Nana Yaa heading the External Affairs Department.  The secret of Vodafone’s success is the people who drive the business.  The engagement with our government stakeholders and the security of the business is crucial to the success of Vodafone in Ghana.  I am certain that Nana Yaa’s experience in a wide range of industries will make her a great asset to the company.” Nana Yaa is a graduate of the London School of Economics and the Columbia University’s Graduate School of Journalism.