· t ˚˛˝˛˙ˆˇ˘ ˝˙ ˘ AGI INDUSTRY NEWS ˚˛˝˛˙ˆˇ˘ ˝˙ ˘ INDUSTRY PERSPECTIVES...

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INDUSTRY PERSPECTIVESQUARTER 4, 2017 QUARTERLY MAGAZINE

CURRENT WOMEN LEADERS

GOVERNMENT TO MODERNIZE

TAX INSIGHTS

TRADE & INDUSTRY POLICY STATEMENT

How to apply for the $2 billion facility

in AGI

Agriculture in the next four years - Hon. Dr Owusu Afriyie Akoto, Min for Agric

Business Tax Incentive Regime in Ghana

by the Hon. Alan Kyeremanten, Minister of Trade & Industry

AGI SIGNS $2BN Facility from China for the 1D, 1F Project

3INDUSTRY PERSPECTIVES

AGI INDUSTRY NEWS

Contents››› IN THIS ISSUE

AGI SIGNS $2 BILLION FACILITY FACILITY FROM CHINA FOR 1D, 1F PROJECT

AGI LAUDS GOVERNMENT ON ONE DISTRICT, ONE FACTORY

GOV’T TO MODERNISE AGRIC IN THE NEXT 4 YEARS

AGI PAYS COURTESY CALL ON PRES. NANA ADDO DANKWA AKUFO-ADDO

AGI, X-SOLUTIONS ANDBRITISH COUNCIL ORGANIZES TECHNOLOGY FOR BUSINESS FORUM

AGI SIGNS MoU WITH COMMONWEALTH ENTERPRISE & INVESTMENT SUMMIT

35

6

31

26

25

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3316

14

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11

Agi Accra Organises Google Digital Training For Members

Tema Initiates Forum on Ghana Trade Facilitation Act

AGI SIGNS MOUS IN INDIA AT ANNUAL AfDB MEETING AGI SIGNS MOUS IN INDIA AT ANNUAL AfDB MEETING

AGI Meets Deputy Finance Minister On Tax Exemptions

Information Seminar on $2Bn facility on 1 District, 1 Factory

Partnering Gsa For The Ghana Industry And Quality Awards

AGI Economic Affairs Committee Review 2017 National Budget

Message from the PR Manager 5AGI organises Google Digital Training for members 6

Tax Insights 18AGI participates in Global Exhibition on Services in India 29ISO Management Training for AGI Members 44AGI Members in Parliament and Government 50

Current Women Leaders in AGI 52How To Properly Use Social Media To Fit Your Business Strategy 64

AGI EMBARKS ON INDUSTRIAL VISIT TO RAJKOT, INDIA 13

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AGI INDUSTRY NEWS

The Industry Perspectives magazine is designed to inform the public about current news, events perspectives of the private sector of Ghana. Various sectors of the economy would be featured providing details, explanations, articles, features and interpretations in all subjects relevant to industry and business.

More importantly, the 'Industry Perspectives' will track trends, issues and challenges that affect the industry here in Ghana, including knowledge of happenings within the sub-region and across the world.

The magazine will deliver independent, authoritative and credible contents through research, balanced and informed opinion and analysis.

One thousand copies will be printed and circulated across the industry operators, companies, embassies, missions abroad and government institutions.

What's more, it is expected to be the authoritative mouthpiece of Industry and advert space would be provided.

Jojo Quayson Public Relations Manager / Accra Regional Manager of AGI

Designed by Oxford Press Limited No. 2c Klanaa Avenue Adenta 0302542797

Publisher Association of Ghana Industries La Giffard Rd, Accra 030 277 9023 / 020 7966880 [email protected] www.agighana.org

Editorial Jojo Quayson National Secretariat - 2nd Floor, Addison House, Trade Fair Centre, La Accra, P. O. Box AN 8624, Accra- North, Ghana Tel.: +233 302 779023 /4 E-mail: [email protected] www.agighana.org

For Stories or Adverts Call Jojo on 02079668880 [email protected]

The 'Ghana Industry Perspectives' magazine is designed to

inform the public about current views, news, events

perspectives of the industry sector of Ghana. Various sectors

of the economy would be presented providing details,

explanations, articles, features and interpretations in all

subjects relevant to industry and business.

More importantly, the 'Industry Perspectives' will track trends,

issues and challenges that affect the industry here in Ghana,

and knowledge of happenings within the sub-region and

across the world.

The magazine will deliver independent, authoritative and

trustworthy contents through research and balanced and

informed opinion and analysis.

One thousand copies will be printed and circulated across the

industry and number of companies, embassies, missions

abroad and government institutions.

What's more, it is expected to be the authoritative

mouthpiece of the industry and advert space would be

provided.

MR. JAMES ASARE-ADJEI

Designed ByOxford Press Limited No. 2c Klanaa Ave. Adenta 0302542797

Printed ByMidland Press

Publisher Association of Ghana IndustriesLa Giffard Rd, Accra 030 277 9023 / 020 [email protected]

Editorial and Stories Jojo QuaysonNational Secretariat - 2nd Floor, Addison House, Trade Fair Centre, La Accra, P. O. Box AN 2098, Accra- North, GhanaTel.: +233 302 779023 /4 E-mail: [email protected]

Advertising Manager Jojo Quayson020 7966880 [email protected]

AGI PRESIDENT

Messagefrom the CEO

AGI INDUSTRY NEWS | 03

FROM THE PR MANAGER

Message

AGI INDUSTRY NEWS

6 INDUSTRY PERSPECTIVES

AGI INDUSTRY NEWS

The Association of Ghana Industries, Accra Branch, organized Google Digital Training programme for

members at the AGI Annex Conference Room. The training programme, which was delivered under the AGI capacity building programme, Entrepreneurial Knowledge Programme (EKF), was designed to achieve the capacity building and training objective of the Association.

The Digital Learning Initiative (DLI) provided by Swifta in partnership with Google provides a method to blend traditional, high-functioning classrooms with personalized, technology-rich digital classrooms - making a blended learning environment for corporate members. The course was delivered through FREE Digital Marketing Training system called Digital Skill Programme, which is delivered by Google for Africa.

Working environment trends support the need for staff/entrepreneurs to become fluent in researching and acquiring information, critical thinking, ability to solve problems, developing skills to communicate and work collaboratively, and becoming innovators with a focus on fostering creativity.

The training was attended by over sixty participants

AGI ACCRA ORGANSES

FOR MEMBERSDIGITAL TRAINING

⊲ Google Instructor, Mamza Ackah, delivering Training

⊲ Google Training in Session

AGI INDUSTRY NEWS


AGI INDUSTRY NEWS


AGI INDUSTRY NEWS

The number one priority for the new NPP Government is to put in place the policy framework that will help businesses expand and create jobs, as well as promote the growth of entrepreneurship opportunities for young Ghanaians in particular.

In pursuit of the above, the Ministry seeks to achieve the following policy goals: improve private sector productivity and competitiveness; attract private sector capital from both domestic and international sources; pursue and expand market access; promote an enabling environment and effective regulatory framework for corporate management; and promote rapid industrialization driven by strong linkages to agriculture and other natural resource endowments.

To realize the above policy goals, the Ministry has embarked on a comprehensive and integrated programme for industrial transformation under the “Industrialization for Jobs and Growth” initiative. The programme is anchored on ten pillars as outlined below:

1. BUILDING THE COMPETITIVENESS OF EXISTING LOCAL INDUSTRIES BY SUPPORTING THEM WITH A STIMULUS PACKAGE-: the programme involves among others, the creation of a quick disbursing Stimulus Fund to be disbursed to local companies based on a specified criteria. The Ministry has identified a number of existing companies that are currently distressed or are facing operational challenges, but are deemed to be viable, who have been screened and selected to benefit from this stimulus package.

The criteria for the selection of beneficiary companies include the following:

• High potential for enhanced job creation

• Competent management team (evidence of qualified personnel for key functional areas)

• Sound financial and accounting reporting system

• Good corporate governance including effective Board structure

• Good track record of operational and commercial performance

• Clear evidence of existing/available market for products or services

• Interest and willingness of existing shareholders and Governing Board, including but not

HON. ALAN KYEREMATEN,MINISTER OF TRADE & INDUSTRY, GHANA

Statement by the MINISTER FOR TRADE AND INDUSTRY


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AGI INDUSTRY NEWS

limited to providing a board resolution to take advantage of proposed Stimulus Package.

• Potential to export products to other markets outside Ghana is an added advantage.

• Location in peri-urban and rural communities is an added advantage.

To date over 300 applications have been received from business operators in sectors including Agric business, Pharmaceuticals, Garments and Textiles, Cosmetics, Building and Construction Materials, Packaging and Plastics among others. A team of experienced Consultants have conducted diagnostic studies of the companies to determine the appropriate stimulus package for the resuscitation of these distressed firms; to which 80 beneficiary companies have been qualified for the first phase of the programme. In addition to the stimulus package, the Ministry has designed mechanism to provide technical and managerial assistance to enhance the organizational capacity of these beneficiary companies.

2. ONE DISTRICT ONE FACTORY (1D1F) INITIATIVE: - the Ministry is aggressively pursuing the One District One Factory initiative through Public-Private Partnerships under which, at least one medium to large scale industrial enterprise will be established in the 216 Districts. The Programme, also referred to as the District Industrialization Programme (DIP), will address the challenge of severe poverty and underdevelopment among peri urban and rural communities, through the establishment of an institutional framework that will attract private sector investments in rural development activities. It also seeks to promote local participation in economic development, and encourage new community-based public/private partnerships.

The 1D1F initiative seeks to achieve the following five strategic objectives namely;

• To create massive employment particularly for the youth in rural and peri-urban communities, and thereby improve income levels and standard of living, as well as reduce rural-urban migration.

• To add value to the natural resources of each district and exploit the economic potential of each district based on its comparative advantage.

• To ensure even and spatial spread of industries and thereby stimulate economic activity in different parts of the country.

• To enhance the production of local substitutes for imported goods and thereby conserve scarce foreign exchange.

• To promote exports and increase foreign exchange earnings.

A Technical Support Group (TSG) made up of experienced Consultants has been established at the Ministry of Trade and Industry and is providing technical backstopping for the implementation of the District Enterprise Projects.

The Ministry working with its Technical Support Group has reviewed 234 Business Plans and Proposals out of a total of 350 received to date. About 59% of these District Enterprise Projects are going to be developed in the manufacturing sector while 33% are interested in the agricultural and industrial plantation to feed the manufacturing plants. It is envisaged that, more than 60 districts will start actual implementation of their enterprises during the year with a potential to generate over 40,000 direct jobs.

The DIP has the potential of transforming the industrial landscape of Ghana, and contribute significantly to the socio economic development agenda of the country. It is estimated that over 350,000 direct and indirect jobs would be created from all parts of the country, as a result of the implementation of the programme.

3. STRATEGIC ANCHOR INDUSTRIAL INITIATIVES:- The Ministry as part of its comprehensive plan to develop new growth poles for economic transformation has identified a number of Strategic Anchor Initiatives as new pillars of growth for the Ghanaian economy. These include the Petrochemical industry; Iron and Steel; Integrated Aluminum Industry; Pharmaceuticals; Vehicle Assembly and Automotive Industry; Industrial Salt; Garment and Textiles; Manufacture of Machinery, Equipment and Component Parts.

In order to promote and attract investments to support the implementation of these initiatives, the Ministry is using its foreign trade and investment offices in selected countries including the USA, UK, Belgium, Switzerland, China, Turkey, Japan, Nigeria and South Africa to attract


AGI INDUSTRY NEWS


AGI INDUSTRY NEWS

potential investors, as well as identify export market opportunities in those countries. In addition to the above, the Ministry is working assiduously with other institutional partners including Ghana Investment Promotion Center and bilateral Development Institutions to attract global companies to invest in these sectors.

4. DEVELOPMENT OF INDUSTRIAL PARKS:- the ministry is currently facilitating the establishment of Multi-purpose Industrial Parks in each of the ten regions. This component of the industrial development agenda is to improve access to land and utility services whiles spreading economic activities across the country.

It is the vision of the ministry that, this initiative will significantly improve Ghana’s ranking in the World Bank’s Ease of Doing Business Index since it targets one of the major constraints investors and entrepreneurs face when starting a business.

As at now, the Ministry has identified interested parties including foreign investors who have initiated the construction of these industrial parks in Ashanti, Greater Accra and Western regions.

5. SMALL AND MEDIUM SCALE DEVELOPMENT: As the anchor ministry for business support and development, another important component of the ministry’s roadmap for industrial transformation is the implementation of a Comprehensive Programme of Action for Small and Medium scale business development. In order to execute this programme effectively, the Ministry is currently restructuring the operations of the National Board for Small Scale Industries, Rural Enterprises Programme (REP) and GRATIS Foundation to enhance their capacities to provide quality support services to the SMEs in Ghana. These institutions will provide enhanced managerial and technical business support services to Small and Medium scale entrepreneurs and business owners to facilitate access to credit, technology, quality labour and markets for their outputs.

6. INDUSTRIAL SUB-CONTRACTING EXCHANGE: the Ministry has established a mechanism called Industrial Sub-Contracting Exchange to link large scale companies with SMEs. This aspect of the industrialization programme is critical to ensuring that SMEs develop productive capacity to feed the industrial requirements of large multinational enterprises.

In order to efficiently achieve this objective, the ministry has completed work on the development of a draft National Local Content and Participation Policy and Bill for the country. The policy is aimed at building the capacities of local businesses and facilitating sub-contracting arrangements with the larger companies.

7. EXPORT DIVERSIFICATION AND DEVELOPMENT: - the ministry is implementing an Aggressive Programme for Export Development, targeting primarily the sub-regional and continental markets. This Export Diversification Programme is anchored on the National Export Strategy. The Ministry through Ghana Export Promotion Authority has rolled out the district level component of the Strategy which involves the development of one export commodity in every district of Ghana under its One District One Factory initiative. The initiative is underpinned by the Ministry’s decision to develop potentially viable export commodity in every district to create decent livelihood within the rural economy.

It is imperative to note that following the extension of The African Growth Opportunities Act (AGOA) Initiative by the US Government, a Strategy is being rolled out to enable the country derive the full benefits under the initiative. In addition to the above, the Ministry has put in place systems to take advantage of intra-African trade particularly the Continental Free Trade Area (CFTA) and ECOWAS Trade Liberalization (ETL) scheme.

8. ENHANCING DOMESTIC RETAIL TRADE INFRASTRUCTURE: - The Ministry has developed a plan to enhance Domestic Retail Market infrastructure and to actively promote Made in Ghana goods. The Ministry in collaboration with other MDAs, especially the Local Government Ministry and District Assemblies, has initiated plans to facilitate the construction of modern retail market infrastructure in the 216 districts.


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AGI INDUSTRY NEWS

9. BUSINESS REGULATORY REFORMS: - In order to improve the Business Environment to make Ghana an attractive destination for investments, the ministry has set up a target of making Ghana the most business friendly economy in Africa. In pursuit of this, the Ministry is aggressively pushing through some major reforms of the business environment of the country through its Business Environment and Regulatory Reforms initiatives.

The business environment reform agenda is focused on the following strategic components:

• Improve ranking of Ghana on the World Bank Ease of Doing Business which targets ten indicators including starting a business, getting electricity, trading across borders, getting credit and registering a business;

• Establish electronic register for business regulations, legislations and processes which should lead to providing a complete repository of business laws and transparency for investments;

• Conduct rolling review of business regulations using the Guillotine approach which will ensure significant reduction in cost and volume of regulatory compliance;

• Centralized consultations web portal for business regulations to act as One Stop portal two-way public consultations;

• Design targeted regulatory reliefs for SMEs in order to reduce entry barriers for young entrepreneurs and start-ups;

• Establish regulatory reforms units within MDAs and conduct Regulatory Impact Assessments (RIA) across government. This should lead to the creation of a permanent system of quality controls that include Regulatory Impact Assessment (RIA) for quality control of new rules; and

• Develop Communication, Advocacy and Public-Private Dialogue with Stakeholders to enhance the inclusive and open process of stakeholder engagement.

These measures are envisaged to ensure a significant improvement in Ghana’s ranking in the Ease of Doing Business and the Global Competitiveness Index. To this end, the ministry is collaborating with Development Partners and other MDAs to ensure removal of bottlenecks and impediments that are adversely affecting businesses operating in Ghana.

10. PUBLIC – PRIVATE SECTOR DIALOGUE: -plans are far advanced to institutionalize and formalize the engagements between the government representing policy makers and the private sector which ordinarily must leverage the policies developed by government. The ministry in consultations with the Office of the President is developing a framework to foster this high level engagement which should lead to the organization of a periodic dialogue session. This dialogue platform will bring together government agencies and the business community to engage at the highest level of policy formulation to promote inclusiveness.

CONCLUSION

The implementation of these programmes will greatly enable the business sector to make significant contribution towards inclusive and sustainable economic growth with improved employment creation opportunities for the good people of Ghana. This ambitious programme is well integrated to offer a holistic approach in dealing with structural deficiency of Ghana’s industrial structure and build the productive capacities of businesses operating from Ghana to be able to compete at the global market place.

Under my leadership, the ministry has reformed the operations and functional structure of work in order to deliver results in more effective and efficient manner. We are putting in place new measures to improve the technical capabilities and competencies of the personnel at the ministry to deliver world class services as a business ministry. The Ministry of Trade and Industry is aggressively leading the job creation agenda of the NPP Government led by President Nana Akufo-Addo to create economic opportunities and wealth for the ordinary Ghanaian. Ghana is open for business.


AGI INDUSTRY NEWS

The Association of Ghana Industries (AGI) and Commonwealth Enterprise and Investment Council (CWEIC) have signed a Memorandum of Understanding (MoU) to work together as Institutional Strategic Partners in creating enabling platforms that will help attract high quality investments, promote Industrial and inclusive growth for employment creation.

The deal clenched at the just-ended Commonwealth Trade Ministers Meeting in London had Mr. James Asare-Adjei, President of Association of Ghana Industries (AGI) signing on behalf of AGI, while Lord Marland of Odstock, Chairman of Commonwealth Enterprise and Investment Council, also signed for CWEIC in the presence of Ghana's Minister of Trade and Industry, Hon. Alan Kyerematen, as well as some staff members of Ghana's High Commission in the UK.

AGI SIGNS MoU WITH COMMONWEALTH ENTERPRISE & INVESTMENT SUMMIT

The MoU is also targeted at formalizing and deepening the level of bilateral cooperation between AGI and CWEIC, which is the apex

organization representing Private Sector businesses within the 52-member states of the Commonwealth.

The strategic partnership will focus on creating business opportunities for AGI members to get access to intra-Commonwealth trade and investment, as well as promote joint ventures and partnerships between

Ghanaian industrialists and their counterparts within the Commonwealth. It will also ensure transfer of technology, innovation technical skill development for wealth creation and reducing unemployment, especially in the Ghanaian industrial sector.

The Commonwealth comprises 52 countries, a population of 2.3 billion and a combined GDP of £6.7 trillion, all doing business in English and using a shared legal framework. The Commonwealth is enjoying all-time highs in development and trade with a combined growth rate of 4.1%, committed to pursuing an ambitious 'Agenda for Growth' within member nations to promote trade, investment and job creation.

The Commonwealth includes some of the world's largest, smallest, richest and poorest countries on five continents with a combined GDP expected to reach US$14 trillion by 2020. The CWEIC is the private sector's gateway to doing business in the Commonwealth. It has the role to create opportunities for businesses and help establish the trust between Governments and the private sector that will allow the economies of the Commonwealth to flourish.

A flagship programme of CWEIC, of which Ghana can be a beneficiary, is Commonwealth Export Champions,

which selects 100 leading Small and Medium-scale Enterprises, offer intensive training, mentoring, trade missions and business development support to help win new businesses in the fast-growing Commonwealth markets.


AGI INDUSTRY NEWS

Mr. James Asare-Adjei (2nd right) in a handshake with Lord Marland of Odstock. With them include Mr. Alan Kyeremanteng


AGI INDUSTRY NEWS

The Accra Regional Branch of the Association of Ghana Industries (AGI) has collaborated with X-Solutions Limited, a strategy consulting and business advisory firm, and the

British Council, to organize a forum to connect businesses with technology, under the name Technology for Business (T4B) Forum. The objective of the Forum was to start discussions and create platforms that would accelerate the building of ICT infrastructures and capacities for African businesses.

The T4B Forum was organized as part of a wider three day Enterprise Africa Summit spearheaded by the British Council.

The British Council used its extensive network, across 23 countries in Africa, to convey a regional summit in March 2017 to dialogue on next generation innovations and celebrate the efforts in entrepreneurship and resilient development. The three-day Summit brought together thought leaders, policy-makers and entrepreneurs to discuss next generation resilience-focused enterprise models and share best practices in connecting enterprise to resilient development.

T4B, which formed the opener for the Enterprise Africa Summit, was opened by Mr. Stephen Djaba, Treasurer of the Accra Regional Branch.

In his opening statement, Mr. Djaba noted that the Forum was, indeed, a milestone in African effort to catch up with the rest of the world. He also remarked that, “The ability to lead the way and surge forward in competitiveness requires a multi-prong approach to dealing with recent advances in technologies and how to leverage on it”. And this formed the reason that the AGI readily embraced the concept of T4B and actively promoted it.

Leaders in the ICT industry who gathered to discuss and share ideas on various subjects starting with “Making Africa Competitive in the Global Digital Economy” included Angelo Govina, General Manager of Main One Cable, and expert at CERT-GH.

Edel Technologies/Women in Tech Africa, Co-Convener of the Forum, brought together ICT leaders such as Sesinam Dagadu, Founder of SnooCode; Farida Bedwei, Managing Director of Logiciel; Selorm Branttie, Operations Director at Mpedigree; and Papa Kwame Anane, Product Development Manager at Capital Bank, in a breakout session to discuss 'Entrepreneurship, Technology and Innovation'.

Another breakout session on 'Grooming Africa's Next Digital Entrepreneurs' had leading ICT figures such as Derek Appiah, Country Director of Microsoft Ghana; Mr. Tsonam Cleanse Akpeloo, MD of Techcom Visions Limited and Ag. Chairman of the Accra Regional Branch of AGI; Akosua Annobil, founder of AB2020 Tech in Ghana Conference in the UK; Delphina Agyare, Project Manager at Soronko Solutions; and Kwame Amoafo of IMT Solutions.

AGI, X-SOLUTIONS AND BRITISH COUNCIL ORGANISES TECHNOLOGY FOR BUSINESS FORUM

Mr. Tsoname Clease Akpeloo Ag. Chairman, Accra Regional Branch


AGI INDUSTRY NEWS


AGI INDUSTRY NEWS

AGI EMBARKS ON INDUSTRIAL VISIT TO RAJKOT, INDIA

The Association of Ghana Industries, led by its Chief Executive Officer, Mr. Seth Twum-Akwaboah, and the Treasurer of the Accra Regional Branch, Mr. Stephen Djaba, embarked on an industrial visit to Rajkot, Gujarat, in India, for the Saurashthra Vepar Udyyog Mahamandal

(SVUM) 2017 International Trade Show.

The visit, which also included Oseadeeyo Kwasi Kennin IV of Twifo Praso as the Special Guest for the Show, was purposed to explore international economic and industrial opportunities to help Ghanaian industrialists gain knowledge, partnerships, exchanges, advantages and technology transfers.

The annual Saurashthra Vepar Udyyog Mahamandal (SVUM) 2017 International Trade Show in Rajkot is supported by Industries Commissariat and Government of Gujarat, National Small Industries Corporation (NSIC), Ministry of Micro Small & Medium Enterprises (MSMEs), India, Government of India and Great Britain – UK.

The event gathered major industrial associations and Chamber of Commerce of Saurashtra-Kutch, international government ministries and agencies, international industries and enterprises and entrepreneurs to network, and showcase new innovations and technologies and present business and investment opportunities in various countries. It created the platform for countries to highlight the various opportunities and challenges facing their respective countries and how industrialists and entrepreneurs, particularly in India and other advanced countries, can explore investments.

Mr. Seth Twum-Akwaboah, the Chief Executive Officer (CEO) of AGI, who made a presentation on the opening day, expressed Ghana's readiness to work with the world to industrialize the economy in the wake of the 'One District One Factory' concept initiated by the new Government in Ghana.

Mr. Stephen Djaba, Accra Regional Secretary of AGI delivering a message to the audience

Mr. Seth Twum-Akwaboah, CEO of AGI receiving Award from SVUM

Oseadeeyo Kwasi Kennin IV of Twifo Praso receiving award from SVUM


AGI INDUSTRY NEWS

PAYS COURTESY CALL ON PRESIDENT NANA ADDO DANKWA AKUFO-ADDO

The National Executive Committee of the National of Council of the Association of Ghana Industries has paid a courtesy call on President of the Republic of Ghana, His Excellency Nana Addo-Dankwa Akufo-Addo.

The delegation, led by Mr. James Asare-Adjei, President of the Association of Ghana Industries, included Mr. Seth Twum-Akwaboah, the Chief Executive Officer of the Association, some past Presidents of the Association and some of the current Executives.

Other members included the MD of Unilever Ghana, Yao Ziobeiton; the CEO of Tullow Ghana, Charles DarkU, the MD of Nestle, Ghana Freda Duplan, and other industry captains.

The visit was the first to the Flagstaff House since the President was sworn into office. The Executives congratulated His Excellency on his election to the high office of the Presidency of Ghana and pledged their commitment to a structured dialogue with his government on how to grow the private sector.

AGI

AGI INDUSTRY NEWS


AGI INDUSTRY NEWS

Issues bordering on export development, tax reduction, and the reclassification of utility tariffs, provision of stable power and a commitment to work towards the reduction in interest rates were discussed. The AGI expressed the desire to develop a platform for continuous engagement with the government on private sector issues.

They lauded the 'One District, One Factory' policy initiative and implored the government to consult the Association on the implementation process. Nana Akufo-Addo stated that “the most effective and efficient way to develop the country is through partnership with the private sector and that is why the Government has also made a commitment towards the task of creating a policy framework to establish a track record of consistency in growing the Ghanaian economy”.

The President of Ghana further noted, “We will move from the tax regime to productive economy; an innovative and creative system would be developed to accelerate a robust and vibrant private sector.”

He assured the delegation that his government is fully committed to a future where the creativity and enterprise of the Ghanaian are understood and harnessed. He said he was convinced that streamlining the national identification system of the country would go a long way to facilitate the formalization of economic activity in the country.

President Akufo-Addo expressed gratitude for AGI's support and challenged its members to explore new ways by which the government and the private sector could work together more effectively to grow the economy.

The Minister of Trade and Industry, Honourable Alan Kyerematen said government is committed to improving the competitiveness of existing companies and hinted of a stimulus package to support selected companies to consolidate their production base.

Hon. Kyerematen said he had intentions to encourage the expansion of Domestic Trade and the development of industrial parks in all 10 regions of the country. He also talked about support for small businesses, tax reforms and facilitation of an annual public/private sector summit.


AGI INDUSTRY NEWS

PARTNERING GSA FOR THE GHANA INDUSTRY AND

The Association of Ghana Industries (AGI) has partnered with Ghana Standards Authority (GSA) to launch the 6th Ghana Industry and Quality

Awards at the Holiday Inn Hotel, Accra.

The annual award, ‘Ghana Industry & Quality Awards’, features a new special category, the National Quality Award category, being introduced by the ECOWAS Commission and the Ghana Standards Authority (GSA).

The National Quality Award seeks to promote the development of quality in production and service delivery, and its winner will represent Ghana at the ECOWAS regional level. The Chairperson of the Awards Committee, Mrs Nora Bannerman-Abbott, stated that, “The AGI Ghana Industry Awards is fast becoming attractive and therefore new partnerships are being developed every year. For instance, the British Council is sponsoring a special category award, the Best Social Enterprise Company Award. It has done this for the last two years and will be sponsoring this year's as well. The Environmental Protection Agency also sponsored an award last year in category of the Most Environmentally – Complaint Company”. She further stressed that “I would like to put a highlight on a special feature for this year's AGI Industry Awards, which is the Quality Award. This is in partnership with the GSA and ECOWAS Commission”.

Mr. Polo Salvia, who is in charge of Business of European Union, also addressed the gathering. He said, “For many years, the EU has been the biggest trading and development partner of West Africa. The partnership with the region on issues related to quality infrastructure has been invested with over 40 € million Euro with additional amount now being programmed under our new regional development cycle that will run until 2021. He continued, “As partners in development, we are committed to supporting the effort to increase quality in the region through the West Africa Quality System programme. The issues here are the region's ability to meet quality, safety, and environmental standards demanded by the market (local, regional and international) for goods”. To support the West Africa private sector tackling this challenge, a solid regional quality

infrastructure system must be in place. This involves having a standardization agency which coordinates regionally on standard setting, and also conformity assessment systems that ensure mutual recognition across countries in the region. This system cannot stand alone, but has to reach the private sector and, in doing so, contribute to promoting a culture of quality in the West Africa economy.

Mr Kofi Nagetey, Deputy Executive Director of Ghana Standards Authority, said, “The Quality aspect of the award seeks to focus on quality as a necessary condition to making business more competitive not only in Ghana but also in the world as a whole. Secondly, it is meant to encourage our business sector to know that the fundamental issue of Quality is what is needed in all sectors of the economy to facilitate the output of goods and services that will bring in the desired revenue to business operators as well as the nation as a whole.

The issue cannot be compromised under any circumstance and that explains why the GSA and other

stakeholders have seen the need to collaborate with each other to promote the culture of Quality in the business sector.

The National Quality Award, among other things, is meant to promote quality as a way of life in business operations. The Quality Award will bring a number of benefits to the business world. First of all, it will acknowledge and support the efforts of companies that seek to promote the culture of Quality Management. Again, it will also help to acknowledge the importance of Quality in our national economic development.

The AGI President, Mr. James Asare-Adjei, expressed his interest in the quality aspect of the awards and called on manufacturers to pay particular attention to quality standards to make them more competitive. He said whilst encouraging quality standards at home, the country also needs to check the influx of substandard products which find their way into the country through the ports which throw local manufacturers out of business.

Quality Awards


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AGI INDUSTRY NEWS

“I will use my industry as an example; I am in the metals industry…even though we have standards of metal thickness to come in, when you go to the ports, what comes in, you will be surprised at,” he said. “I commend all our partners and sponsors and urge them to support the award. AGI appreciates their efforts in bringing this award this far,” Mr. Asare-Adjei said.

In a speech read on behalf of the Minister for Trade and Industry, Hon. Alan Kyerematen, the Chief Director of the Ministry, Mr. Dawarnoba Baeka, stated that “For over sixty years, industries in Ghana had provided meaningful livelihoods for many Ghanaians through jobs and incomes.

“With the growing population of graduates who require many more job openings, there is a compelling need to provide those jobs through the creation of opportunities where industry can expand to absorb these new graduates. Government is therefore committed to creating the required conducive environment for industrial expansion”.

“Quality in the production of goods and services cannot be underestimated in a competitive global market environment. It is therefore incumbent on the industry to produce goods that are of quality to enable them to capture the market.

“I am therefore particularly delighted that the category for National Quality Awards has been added to the awards category”.

I am therefore particularly delighted that the category for National Quality Awards has been added to the awards category

AGI INDUSTRY NEWS


AGI INDUSTRY NEWS

George Kwatia is a Partner and Head of the Tax Unit of PwC Ghana and Sierra Leone. He is a regular speaker on tax matters and faculty lead of the Tax Centre of the PwC Business School in Ghana.

Tax inSight

Business Tax Incentive Regime in Ghana

What are tax incentives?

Tax incentives are a common phenomenon in taxation and economic growth. They could broadly be seen as measures granted by governments to provide a more favourable tax treatment of specific individuals, businesses, industries or economic activities compared to tax treatments offered to their general counterparts.

Governments grant tax incentives to businesses and individuals for a variety of reasons including attracting foreign direct investments, redirecting economic resources and investments to particular sectors of the economy, redistribution of income and promoting equity.

Tax incentives in Ghana

Ghana has a number of business tax incentives enshrined in various statutes and agreements. Principal sources of business tax incentives in Ghana include:

• Domestic tax laws;

• Agreements between businesses and Government of Ghana, ratified by Parliament (for example, Petroleum Agreements and Deeds of Warranty); and

• Multilateral and bilateral conventions between the Government of Ghana and other Sovereign States (for example, Double Tax Agreements), and Supranational bodies (e.g. the Economic Community of West African States “ECOWAS”) and Multilateral Institutions.

What tax incentives are available to businesses in Ghana?

1. Concessionary incentives

These are temporary partial exemptions granted to new firms or investments. In Ghana partial concessionary tax exemptions are granted to businesses investing in specific sectors of the economy for a given period. Businesses entitled to these incentives pay a reduced corporate income tax of 1% on chargeable income compared to the general tax rate of 25%. These concessions are summarised in Table 1.

Table 1: Concessionary tax incentives

Business type Concession period

Rural banking 10 years

Waste processing 7 years

Low cost housing business 5 years

Unit trust scheme and mutual fund

10 years

Venture capital financing company

10 years

Farming - tree crops or cattle 10 years

Farming - cash crops, livestock or fish farms

5 years

Agro processing conducted wholly in Ghana

5 years

Cocoa by-product business 5 years


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2. Free zone incentives

Free zones are geographically limited areas in which qualified firms can locate in order to benefit from exemptions of varying scopes subject to obtaining license from the Ghana Free Zones Board. These benefits include:

• Corporate income tax exemption for first ten years and then 15% on income earned from export of goods and services after expiration of the 10-year income tax holiday period;

• Dividend paid by a free zone entity is exempt from tax in Ghana; and

• Exemption from VAT and customs and import duties on import of goods and materials for use in production of goods.

3. Reduced ratesGenerally the corporate income tax rate in Ghana is 25%. However, businesses in specific industries benefit from reduced corporate tax rates summarised in Table 2.

Table 2: Reduced Tax Rates

Industry Tax Rates

Company principally engaged in hotel industry

22%

Chargeable income of company from export of non-traditional goods

8%

Income of financial institution from loan granted to farming enterprise

20%

Income of financial institution from loan granted to leasing companies

20%

Income of manufacturing company other than free zone entity or non-traditional export company located in regional capitals (except Accra/Tema)

18.75%

Income of manufacturing company other than free zone entity or non-traditional export company located elsewhere in the country (except Accra/Tema)

12.5%

4. Border tax incentives

Businesses have the opportunity to benefit from import duty and tax exemptions. Businesses in Ghana benefit from preferential exemptions by virtue of Ghana being a member state of the ECOWAS. This covers specific exemption of import duties and taxes on importation of unprocessed products and traditional handicrafts specified under the Second Schedule of the ECOWAS Common External Tariffs and Other Schedules.

Further, businesses with special exemptions are entitled to import duty concession on the importation of agricultural and industrial plants, machinery and equipment imported for investment purposes. These include plants, machinery and equipment listed on the mining list and in reference to the Petroleum Agreements between the Government of Ghana, Ghana National Petroleum Corporation and upstream petroleum contractors.

5. Negotiated tax exemptions for Strategic investors

Tax exemptions could be granted by Parliament to businesses operating in industries critical to government’s development agenda.

Some sectors that have successfully obtained Parliamentary tax exemptions in our experience include: Energy; Infrastructure (roads, railways, ports, low cost affordable real estate); Agriculture/Agribusiness; Oil and Gas Services; Tourism; and Services (ICT, Education, and Financial).

Under the Ghana Investment Promotion Centre (“GIPC”) Act, 2013 (Act 865) (“GIPC Act”), specific incentive packages may be negotiated by strategic investors in addition to the incentives and benefits available under various laws (e.g. customs and domestic taxation laws). The qualifying threshold by value of investment for strategic investment is a minimum of US$50 million.

6. Investment Guarantees

Ghana has a friendly economic environment that promotes a high guarantee for the fiscal stability of private sector business investments. This is furthered by fiscal legislation and agreements between the Government of Ghana, multilateral institutions and other sovereign governments. The investment guarantees include:

• Guarantees against expropriation of private investments provided under law are buttressed by the Constitution of Ghana and further provided under section 31 of the GIPC Act;

• Free transferability of capital, profits and dividends;

• Stability agreements: Businesses in priority sectors are able to negotiate fiscal stability agreements with the Government of Ghana. This is to provide a desirable degree of certainty in investment decisions;

• Insurance against non-commercial risk: Ghana is a signatory to the World bank’s Multilateral Investment Guarantee Agency (MIGA) Convention; and


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• Double Taxation Agreements (“DTA”): To promote cross-border trade and prevent the double taxation of income and capital gains, Ghana has signed and ratified DTAs with nine countries. In addition four new DTAs have been signed pending ratification by Parliament.

7. Other tax incentives

Utilisation of tax losses

Businesses operating in Ghana have the dispensation to carry over tax losses and utilise them as deductions against future taxable income. Businesses in priority sectors have the dispensation to carry forward tax losses for a period of five years. The priority sectors include: minerals and mining operations; petroleum operations; energy and power business; manufacturing business; farming business; agro processing business; tourism business; Information Communication Technology (“ICT”) business. All other businesses are entitled to carry forward tax losses for a period of three years.

Fresh graduate incentive

A company employing fresh graduates who have graduated from a tertiary institution for the first time is entitled to an additional tax deduction. The tax deduction is between 10% and 50% of the recent graduates’ salary depending on the percentage of recent graduates employed in relation to the total employees of the company.

The incentive is available to an entity based on the number of fresh graduates employed.

Want to know more? Let’s talk. You can contact me by sending an email to [email protected] and copy in [email protected] to obtain a quick response.

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PwC firms help organisations and individuals create the value they are looking for. We are a network of firms in 157 countries with more than 208,000 people who are committed to delivering quality in assurance, tax and advisory services. Tell us what matters to you and find out more by visiting us at www.pwc.com/gh


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Should companies play by the rules? Why should it take an enforcement action (through fines, lawsuits) or costly circumstances such as injury or even death as a result of non-compliance to effect policy change in corporate behaviour? The consequences of Corporate Compliance violations could be (examples include loss of contracts, damaged brand image and endless litigation) yet Compliance is paid lip service. To remain relevant and competitive, organisations must put in the effort to change the mindset of employees, and establish a Compliance culture across the organization. Compliance and Ethics also affect people’s lives. Our ability to make business decisions about environmental protection, commit to safety, make ethics is a priority ultimately enhances the quality of lives for families and the community.

Compliance and Ethics take effort and does not happen by chance or good luck! Your compliance program must work, which means it must be tested against company risks to be effective. An organisation with a working Compliance program can detect quickly when there is wrong doing and fix it. The ability to contain a scandal or demonstrate that the organization won’t compromise when there is found to be wrong doing will send the right signals to the public and stake holders.

Corporate Compliance is not limited to just the defense against fines and fees, but makes good business sense. Compliance cuts across industry. Take healthcare for example, an effective compliance system increases confidence in the services the hospital, laboratory or pharmacy provides, and it also saves lives. What happens when the doctor

does not follow rules required as a healthcare practitioner and focuses rather on making money by prescribing unnecessary drugs or where the inattentive nurse places the wrong records in a patient’s file and does not follow hygienic protocols? Everything would go wrong – people could suffer complications and revenue may be lost fighting lawsuits or trying to repair damaged reputation. Compliance in the manufacturing sector guarantees that inspections, assessments and tests are performed in accordance with industry standards to ensure customer satisfaction and meet quality standards. Oil and Gas compliance means the necessary permits are obtained, air pollution control is enforced, public complaints are investigated and environmental requirements maintained.

So what is Corporate Compliance? Simply put, it is a system or process that is designed to ensure the organisation’s policies and practices are in line with government regulations and applicable laws are followed. To be effective, a compliance programme must be an ongoing process able to adjust with the growing needs of the business. An efficient Compliance programme requires the support of management to set the right example. Where senior management show support for a culture of Compliance is sufficient to instill co-operation from all employees. Training programmes and enforcement are all components of the Compliance programme.

Although there are ongoing conversations on compliance, ethics and corporate social responsibility, much work needs to be done in the area of compliance and ethics for companies to understand that playing by the rules is really the best way to go.

PLAYING BY THE RULES – ARE COMPLIANCE & ETHICS NECESSARY?by Doris AgyemanDirector, Bimstinct Solutions LimitedManagement Consulting, Compliance


AGI INDUSTRY NEWS

Ghana is on the go, a nation poised to be a continental economic powerhouse in the next decade. Strategic positioning, good governance, a strong business and industrial base that attracts investment, an educated workforce, and an expanding middleclass population are the right ingredients that make the country’s future so promising. As the economy recovers and pushes ahead to the next stage of growth, Ghana’s local industry must be ready to secure and solidify present gains, and build on them for future growth and development.

A snapshot of Ghana’s economy in the last half decade is that of a derailed economy getting back on the road to success in 2017, and surging into 2018. 2015 and 2016 saw the country decline and experience some of the slowest growth rates in recent memory, losing much of the steam of the early 2010s when the country was an emerging economic driving force on the continent. Ghana grew at only 3.5 per cent in 2016, following an equally dismal 3.9 in 2015. In 2017 after a smooth transition of government, the country began to reverse the trend, with the World Bank revising its earlier number of 4.5 per cent growth for 2017, projecting growth at a respectable 6.3 per cent. 2018 is looking even more positive and the projection is that the economy will grow at a minimum of 7 per cent. Beyond 2018, the rising trend is projected to continue, all of which spells very good tidings for business in the country.

There are several key sectors that are essential to fuelling Ghana’s economic recovery—the economy’s bright spots are the engine of our continued success. For instance, Ghana is centrally located in the West African region and in the perfect position to act as a logistical hub that facilitates trade to and between the surrounding nations. Tema is one of West Africa’s largest ports and with ongoing works to expand its capacity tom make it an even more attractive destination, is poised to become a player in global trade, and can provide ready access to the 350-million people strong Economic Community of West African States (ECOWAS) market.

We have a flourishing middleclass population with increased urbanisation and a relatively well-educated workforce that can be rapidly upskilled to adopt new skills in areas such as manufacturing, agro-processing, and information technology (IT). With one of the most stable governments on the continent, evinced by the most recent peaceful elections, the country is a global model for stability. It is why we are ranked second in West Africa on: the Global Peace Index and Transparency International’s Corruption Perception Index.

A Snapshot of Ghana’s Economyby Yoofi Grant


AGI INDUSTRY NEWS

All these factors are vital for the next phase of advancement for the economy, and local industry are in position to harness these advantages to power the next phase of development. The Ghana Investment Promotion Centre (GIPC) is keen to do its part to support industry, development, business, and growth for Ghana. The object of the GIPC is twofold according to the GIPC Act, 2013 (Act 865): Firstly, to “create an enhanced, transparent, and responsive environment for investment and the development of the Ghanaian economy through investment; and secondly, to “encourage, promote, and facilitate investment INTO and WITHIN Ghana.” The GIPC’s services are available to all GIPC-registered investors and businesses in Ghana and we support all investors and we offer a wide array of services including joint ventures facilitation and industry research, amongst others.

As Ghana moves into its next phase there are real issues that are being tackled and must be met: our businesses must strive to meet and exceed global best practices in issues such as corporate governance as we look to attract business and investment within our shores. Businesses must also learn to understand their value chain, to better consider investing in other companies, and look at opportunities for creating, growing, and/or expanding along the chain. Ghanaians investing in Ghanaian companies and venture is essential to see our economy thrive, and foreign direct investment provides opportunity to learn from other industrial nations and leapfrog our knowledge and technology gaps.

The government is committed to executing policies that drive growth, including instituting investment and business climate reforms, improving the current tax environment to make it more business-friendly, simplifying requirements for and the registration process of new businesses, facilitating easier access to finance for businesses, and a directed effort to stabilise the price of and access to electricity for commercial use. Working on ease of doing business, taxes, enabling a better investment environment that works for both the investor and the nation is paramount. GIPC is also going through its own reforms to better serve the needs of a 21st century market and its eventual transition to an economic development board.

The undergoing reforms are driving the transition from a factor driven economy, producing raw materials that become value added commodities outside of our shores, to a value added, production-based economy, essential to the expansion of jobs and to catch up with the world that is moving at an ever-growing pace.

In all, Ghana is very much open for business and is well on its way to being the premier investor and business-friendly place on the African continent, as well as establishing ourselves as the business and financial hub for West Africa. 2017 has been a fast-paced year for the Ghanaian economy, and is the springboard for a stellar 2018.

Yoofi Grant


AGI INDUSTRY NEWS

The Tema Branch of the Association of Ghana Industries (AGI) organized a seminar to sensitise

members to the Ghana Trade Facilitation Agreement and also to draw inputs from members on the way forward concerning the Agreement.

At the opening of the seminar, Rev. Dr. George Dawson-Ahmoah, the Tema Regional Chair of AGI, indicated that the Agreement is a welcoming news to Industry and Ghana as a whole.

He said “even though the Association endorses competition, there is a need to provide a levelling playing field to curb or control unfair trade practices. This Agreement is a check to streamline trade processes and procedures to bring sanity into the system”.

The presentation for the occasion was delivered by Mr. Lawrence Osei Boateng from the Ministry of Trade and Industry. He said the Agreement is to provide for the regulation of the international trade of Ghana in conformity with the rules and regulations of the world trade system and also for related matters.

He stated further that the specific objectives of the Agreement are to oversee compliance of Ghana with international trade rules and regulations; ensure fairness, efficiency, transparency and objectivity in the application of measures affecting international trade and the use of world trade measures; ensure fair competition for persons engaged in domestic production and international trade; and protect the domestic market from the impact of unfair international trade practices.

“In furtherance of the objects specified in subsection (1), the Commission shall be guided by the treaty provisions of the World Trade Organization and the general principles of international trade law,” Mr. Osei Boateng said.

He then enumerated key strategies, which included monitoring and reviewing the pattern of Ghana's international trade and advising the Minister on matters affecting trade and industry; studying, identifying and recommending to the Minister tariff levels for specific sectors of the economy with due regard to the effective rate of protection; and conducting studies and publishing reports on the competitiveness of Ghana's tariff structure and the impact of the tariff structure on domestic industry, market access opportunities and challenges in relation to exports from Ghana.

Some of the participants expressed the need for more deliberations, and that the private sector must be involved in the consultations to ensure effective implementation.

TEMA INITIATES FORUM ON GHANA TRADE FACILITATION AGREEMENT


AGI INDUSTRY NEWS

Tema Regional Chairman and Executives


AGI INDUSTRY NEWS

AGI MEETS DEPUTY FINANCE MINISTER ON TAX EXEMPTIONS

The Association of Ghana Industries (AGI), in collaboration with the Business Advocacy Fund, (BUSAC) has organised a meeting at the Alisa Hotel to deliberate on the tax exemptions introduced in the national budget by the new government and their impact on business.

The meeting was opened with a brief address from the Chief Executive Officer (CEO), Mr. Seth Twum-Akwaboah, who stated that the tax exemptions initiated by the government are of very high interest to the AGI members because "our previous business barometer reports had presented the multiplicity of taxes as inimical to business growth."

The CEO said “the multiplicity of taxes comes at a time businesses are already bedeviled with various challenges, including high cost of utilities, and lack of access to credit. Therefore, it was a positive omen to the business climate when the new government abolished various taxes to relieve industries of such headaches”.

He continued that “the tax exemption package is a step in the right direction and we are here to deliberate on the pathways for implementation and execution of the exemptions.”

Key issues that were raised by members at the forum included the scrapping of importation and clearing of raw materials and equipment for manufacturing, and the new directive that importers are mandated to still pay the “scrapped” taxes and then apply for a refund, which takes 30 days to process before the importer is disbursed.

Members were of the view that the scrapping of the taxes was a good initiative but paying the taxes and later applying for refund is not supporting the very reason why the initiative was taken because the process of refund is cumbersome, and time-consuming. “In fact, importers already struggle to clear their duties and paying upfront is not the best.

Manufacturers do not have time to be going round chasing their refund,” the members said. Members therefore urged the government to rethink the refund decision. The Deputy Minister for Finance, Mr. Kwaku Kwarteng, indicated that the government had faith in industries that “they are the real drivers of the

economy and the tax exemptions are created to relieve them of the cost of doing business. The tax is supposed to save businesses and at the same time to correct irregularities that surround duty payments.

The refund may inconvenience you, but we have put structures in place to ensure an efficient and expedited refund system, so we need your cooperation and support.” The Deputy Minister said the mandate of President Nana Addo Dankwa Akufo-Addo is to ensure that a new breath of business environment is created to ensure that value-addition and manufacturing is used as a fulcrum on which all economic activities revolve.

“We understand the business challenges facing you and every step on the way we are trying to address, including providing consistent and regular supply of power as well as stimulus financial package to cushion businesses,” the Deputy Minister said.

AGI INDUSTRY NEWS

Seminar in Session

Hon. Kwaku Agyeman Kwarteng, Dep. Minister for Finance

Dr. Adu Gyamfi, Vice President for AGI, in Charge of Large Scale


AGI INDUSTRY NEWS

Mr. Seth Twum-Akwaboah, the

Chief Executive Officer of the Association of Ghana Industries, has lauded the Government for the bold step taken to facilitate the growth of companies in the country through the One District, One Factory initiative.

He expressed his appreciation in an interview during the opening of the Ghana International Trade and Finance Conference where the announcement was made.

He said, with the release of the funds, companies which go through the selection process successfully would receive financial and technical support.

He explained that the initiative would reduce the cost of doing business by providing shared industry resources and revenues.

To this end, the Government has released GH¢465 million for the commencement of the one-district-one-factory project. It has also released GH¢256 million for the revamping of 100 private commercially viable and distressed companies throughout the country.

The Director of Policy Planning, Monitoring and

Budget at the Ministry of Trade and Industry, Mr. Padi

Adjirakor, announced this during the conference.

Speaking on behalf of the Sector Minister, Honourable Alan Kyerematen, at the opening of the Ghana International Trade and Finance Conference, Mr. Adjirakor indicated that all businesses that qualified for the two programmes must present their proposals outlining their business plans to the Ministry for the necessary action to be taken.

Mr. Adjirakor said the project, which was expected to start any moment from now, would boost the national economy, create more jobs, as well as make most districts economic giants.

In a presentation at the conference, the Mexican Ambassador to Ghana, Ms Maria de los Angeles Arriola Aguirre, said investors from Mexico were ready to invest in areas such as agriculture, health and communication in Ghana.

She, therefore, appealed to the Government to put in place measures that would encourage Mexican investors to invest in Ghana.

AGI lauds Government for Release of Funds for

ne District

ne Factory

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AGI INDUSTRY NEWS

The Association of Ghana Industries(AGI), in collaboration with the One District, One Factory Secretariat, EximBank Ghana, China National Building Materials and Equipments Import and Export Corporation (CNBM), and Architectural and Engineering Consultancy Company Limited, Ghana, has oranised an information seminar at the Accra International Trade Fair Centre to unveil the details of the credit facility to members and the business community.

The Association is leading the private sector in spearheading the One District One Factory (1D1F) initiative and has secured a $2 Billion facility from China to support the private sector to establish industries and manufacturing centres in all the districts in Ghana.

Dr Tony Oteng Gyasi, the past President of the Association and Managing Director of Tropical Cable as well as the Chairman of the Committee for the AGI/CNBM $2 Billion facility, opened the seminar. He

indicated that the whole initiative is to support the industrial effort of members and so members must position themselves to take advantage of the facility.

He further said the financial arrangement is a turnkey project which requires special arrangement whereby the Chinese partner would fully design, construct and equip a manufacturing/ business/ service facility and also support the running of the production.

Dr. Oteng-Gyasi advised members who wish to apply for the facility to provide bankable business proposals with a clear guide, and a comprehensive blueprint that satisfies all conditions of the facility.

Mr. James Asare-Adjei, the President of the AGI, appealed to the government to make information on the 1D1F available for easy access by the members and the business community at large. He also said the concerns raised by members would be factored into the policy direction to help transform Ghana’s economy from import-oriented to value-added.

Information Seminar on $2 Billion Facility For ‘One District, One Factory Project’


AGI INDUSTRY NEWS

He said the businesses to to be established and developed through the 1D1F policy could be the seed-bed in the country’s industrialization efforts and therefore urged all to give the initiative their best.

The National Coodinator for the One District One Factory, Mrs Gifty Konadu, said in the first year of its take-off, 1D1F is expected to create 7,000 to 15,000 jobs and that jobs are expected to increase by the year 2020 to between 1.5 million and 3.2 million nationwide.

She further noted that the policy is targeted at industries in agro-business, garment and textiles, waste management, tourism art and craft, meat processing and the like.

The Chief Executive Officer of the AGI, Mr. Seth Twum-Akwaboah,said the CNBM facility would cover 85 per cent of the capital expenditure needed to set up a factory.

He said local companies and members would have to use factories built or equipment acquired under the initiative as collateral and also pay 10 to 15 per cent of the total cost of project as commitment.

The Director of Investment and Development of the CNBM, Mr. Kent Ma, said China is a big country with a big market and a strong economy that is ready to support the acceleration of the development of Ghana’s economy.

The Deputy Minister of Trade and Industry (MoTI), Mr. Robert Ahomka-Lindsay, indicated that over 400 business plans had been submitted to the government for consideration under the 1D1F as of July 21, 2017.

Out of the number, he said, 331 were analysed and evaluated, and 63 of them have been approved and are ready to be implemented.


AGI INDUSTRY NEWS

AGI PARTICIPATED IN THE GLOBAL EXHIBITION ON SERVICES IN GREATER NOIDA, INDIAA team of key executives and management staff of the Association of Ghana Industries, led by Mrs. Leticia Osafo-Addo, National Treasurer and Managing Director of Samba Foods, participated in the Global Exhibition on Services (GES) in Greater Noida in India from the 17th to 21st April 2017.

The Global Exhibition on Services (GES 2017) brought together 550 exhibitors from 73 countries, with China as the Focus Country. There were over 5,000 business meetings and deliberations and more than 30 seminars.

The event which was organized by the Confederation of Indian Industries, the Service Export Promotion Council, India, Ministry of Commerce and Industry covers 20 key service other sectors such as IT and BPM, tourism and hospitality, logistics, education and financial services, Banking and Financial Services, Energy Services, Environmental Services, Exhibition and Events Services, Facility Management,

Healthcare, Logistics, Media and Entertainment, Next Gen Cities, Railway Services, etc.

The Honourable President of India Shri Pranab Mukherjee opened the forum with a statement that “At a time when global merchandise trade is slowing down, trade in services can bring new benefits to the global economy,”

President Pranab Mukherjee added that India’s services exports help global businesses build their productivity and support jobs across the world, noting that India is also a growing market for the world in the sector. Make in India, Digital India, Startup India and Skill India will further drive services growth as manufacturing is increasingly embedded with services, said the President.

Pointing to legal, economic and political issues in international trade in services, President Murherjee called for addressing policy matters such as access,

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AGI INDUSTRY NEWS

transparency, and capacity building. In this regard, he said that India has submitted the Trade Facilitation in Services note to the WTO. “Exchange of services represents the way forward for global trade,” he concluded.

The Minister of State (Independent Charge) for Commerce and Industry Smt. Rita Teaotia stated that “while manufacturing contributes 16.6 per cent of India’s gross value added, the services contribution stands at 53 per cent, and hence, the Government of India is according high priority to it. India’s share in global services exports is at 3.3 per cent and there is scope for more exports, she noted”.

She continued “The previous two editions of the GES have resulted in concrete outcomes and agreements with other nations, said the Minister.

The services segments that India is developing now in areas like space science, health services industry, etc. are enabling the country to penetrate into newer markets and destinations. The frontier services will enable the country to move in value chain”.

There was a special trip to presidential estate, Rastrapati Bhawan, for a cocktail night with the Honourable President Shri Pranab Mukherjee, where he addressed the entire international delegates and participants in the Global Exhibition on Services with Smt. Nirmala Sitharama, Minister of State (Independent Charge) for Commerce and Industry, and Shri Manoj Sinha, Minister of State (Independent Charge) for Communications and Minister of State for Railways gracing the occasion.

The delegation of the trip included Ms. Mansa Amoah-Awuah, Sector Chairperson, Advertising and MD, Saki Publicity; Mrs. Nana Charlotte Beecham, Sector Chairperson, ICT, and MD, Seatec Telecom Services Ltd., Mrs Soraya Anglow – MD, Greenline Logistics and Jonathan Arthur, Accounts Officer, AGI.

Factory and site tours were organized to major facilities and companies by CII, it was an experience to get exposed to first master class hospitals with state of the art facility as well as telecom company that manufactures telecom mast that relies on solar.


AGI INDUSTRY NEWS

AGI SIGNS MOUS IN INDIA AT ANNUAL AfDB MEETING

The Association of Ghana Industries (AGI)has signed memorandums of understanding (MoUs) with Gujarat at the recent African Development Bank (AfDB) annual meetings being held in Gandhinagar, India.

Mr Stephen Djaba, the secretary/treasurer of Accra Regional Branch of the Association and partner of Geotech Services, signed the agreements on behalf of the Association in presence of Gujarat chief minister Vijay Rupani and senior state and central government officials and African delegates.

The agreement is for such areas as agriculture and agri-productivity, power generation, automobiles, technology transfers and tourism.

The Western Regional Chairman of the Confederation of Indian Industries (CII), Piruz Khambatta, said, "There is a huge potential of partnership between India and Africa in areas of raising agriculture output, rural infrastructure, education and skill development. The private sector can play an important role in the development of agriculture and food processing sectors in Africa."

Khambatta said this while speaking at a session on Africa-India co-operation in agriculture, during which the MoUs were signed.

The state government also signed an MoU with the Republic of Togo to develop infrastructural projects,

mining activities, and renewable energy sources for power generation, increasing productivity of arable land and boosting tourism.

"There is tremendous scope for India to help Africa improve the way agriculture is taken up on the continent," added Atul Jain, joint managing director, Jain Irrigation Systems Ltd.

Agreements were also signed with other African countries, namely Zambia, Togo and Mozambique, and the agreements will also help promote agricultural activities in these African countries.

"As a follow-up to these agreements, a delegation comprising government officials and entrepreneurs from Gujarat will visit the four African nations in July and August," said Saurashtra Udyog Vepar Mahamandal president, Parag Tejura, who facilitated the signing of the agreements.

His association has been actively encouraging farmers from Saurashtra to take up agricultural activities in Africa.

Mr. Stephen Djaba Signing MoU with Government of Gujarat

AGI INDUSTRY NEWS


AGI INDUSTRY NEWS

GOVERNMENT TO MODERNISE AGRICULTURE IN THE NEXT FOUR YEARS

Dr Akoto Afriyie, the Minister of Food and Agriculture, has indicated that the vision of President Nana Addo Dankwa Akufo-Addo under the new admistration is to make agriculture an attractive venture that will woe investments both locally and internationally. He said during a meeting the AGI the Agri-Business Sector members when they paid a courtesy call on the Minister on the 7 April 2017 at the Ministry of Food and Agriculture Conference Hall.

In response to various views expressed by the sector members, Dr. Afriyie said the government was aware of challenges facing the agriculture sector. Therefore, it has taken bold strategic initiatives to propel the agriculture sector into a viable and lucrative sector that will absorb the growing unemployed youth.

“The strategic goal for the next four years is to modernize agriculture, improve production efficiency, achieve food security and profitability of our farmers, with the aim of significantly increasing agricultural productivity,” he said.

The Agribusiness Sector Chairman of the Association of Ghana Industries, Mr. Winfred Osei Owusu, highlighted the prospects of the Agribusiness Sector to the growth of the economy as this involved 'Planting for Food and Creation of Jobs', one of the themes in the New Patriotic Party manifesto. Representatives accompanied him from 10 different areas such as Fruits, Vegetables, Cassava, Oil Palm, Cashew, Cornwall, Sweet Potato, Salt and Beekeepers.

These various representatives from each branch of the sector took turns to address the Minister on the peculiar challenges and the opportunities within

their respective sectors. There was a clear need for expansion in all the sectors and assistance needed from the government in terms of policy planning and financial bailout. The challenges include lack of access to credit, high cost of credit, high cost of energy, lack of efficient technology, and local processing and marketing systems. The general view of the opportunities espoused by the members was that the agribusiness sector can be used as the fulcrum on which the “The One District, One Factory” would work to largely create jobs for the youth, rake in foreign exchange and mobilize revenue for the economy.

Mr. Winfred Osei Owusu, AGI Chairman for Agri-business

Dr Akoto Afriyie


AGI INDUSTRY NEWS


AGI INDUSTRY NEWS

The Economic Affairs Committee of the Association of Ghana Industries (AGI), chaired by, Dr. Tony Oteng-Gyasi, has reviewed key aspects of the 2017 National Budget Statement.

At the review session, Mr. James Asare-Adjei, the AGI President, lauded the Government for the prudent private sector sensitive initiatives. He stated that “The AGI welcomes the Government's bold initiatives in the 2017 Budget Statement and Economic Policy that seek to support industrial development, generally, and the manufacturing sector in particular”.

This will help create the needed employment in the country. This year's budget is a remarkable departure from previous ones which focused on generating additional tax revenue. This Budget places emphasis on developing the more production sectors (Industry and Agriculture) of the economy which have experienced consistent decline in their contributions to GDP in the last five years,” he said.

The potential impact of these sectors and their prospects for job creation cannot be over emphasised. Agriculture is known to be a critical starting point in the value chain that feeds Agro Industry.

Whilst AGI commends the Government for the bold initiatives outlined in the Budget Statement, the Association tasked the government to give maximum attention to the following:

1. Flagship Industrial Development Initiatives Stimulus Package:

Government's intention to establish the stimulus package to resuscitate and support industry to create the needed jobs is commendable. AGI urges the government to put in place measures to carefully design and implement the package in order to achieve the desired results. In this regard, AGI is ready to support the government in the design and implementation of the package.

2. One District One Factory: The Association of Ghana Industries urges the government to announce as quickly as possible the modalities which would drive the agenda for the one district one factory policy. The AGI continues to receive expression of interest from both members and non-members in investing in this programme and therefore eager to see a smooth takeoff.

We advise that the modalities should include special tax incentives to encourage rural industrial development. Such tax incentives could include exemption from corporate tax, use of piece rate to spur production, and others.

3. Industrial Development Fund: The Government's plan to establish an Industrial Development Fund (IDF) comes as a welcome initiative to AGI, especially where AGI has been advocating a fund that gives medium to long term facility for business financing. AGI has been working with the previous government on setting up an industrial bank, and will welcome the opportunity to partner with the

AGI ECONOMIC AFFAIRS COMMITTEE REVIEW 2017 NATIONAL BUDGET

AGI INDUSTRY NEWS


AGI INDUSTRY NEWS

current government in developing the AGI Industrial Development Fund as a fully-fledged fund.

4. Taxes: AGI commends the Government for the steps taken to abolish and reduce some taxes which will bring some relief to businesses. This in itself will stimulate business growth. Government's plan to initiate steps to remove import duties on raw materials and machinery for production within the context of the ECOWAS Common External Tariff (CET) protocol is laudable. To this end, AGI will collaborate with the Ministry of Trade & Industry to provide the necessary input and criteria for determination of what constitutes raw material in order to prevent abuse of this tax incentive.

The review of all tax exemptions, particularly the import duty exemptions, in order to save the Economy huge revenue losses is in the right direction. Under-invoicing for certain imports constitutes a major source of revenue leakage and has had serious negative consequences on Industries. The mechanism to check this practice is necessary. In order to salvage this, we strongly recommend the introduction of minimum declared values for most imports in order to reduce ambiguity and discretion in dutiable values.

AGI appreciates Government effort to block the revenue leakages at the ports by introducing reviews in the implementation of exemptions on clearing goods at the ports. We, however, wish to advise that for industrial machinery and raw materials that are zero rated, industries should not be required to make upfront payment before applying for refund later. Such a measure will increase cost of production, and with our history of delayed refunds, this will only add to the cost of doing business. We therefore urge Government to review this aspect of the exemption implementation process. AGI is available to discuss with Government the best approach to implementing this smoothly. Government's intention to implement the Excise Tax Stamp Act, 2013 (Act 870) is well noted by the AGI. It is, however, important for Government to consult Industry players in the beverage sector before it proceeds with the implementation of the Act which has been fraught with technical challenges in the past.

5. Energy - AGI acknowledges the current installed generation capacity of 4,132 MW as at end of 2016. What is, however, of major concern to Industry is the current cost of electricity, which is reducing the competitiveness of most businesses. Government must review power regeneration contracts with the view to reducing electricity tariffs to bring Ghana's electricity tariff to competitive levels within the sub-region.

AGI also proposes that the least expensive power

generation sources be dedicated to strategic Industries which have linkages throughout the economy, and the aluminum value chain.

6. Construction - We commend Government's proposal to develop a local content policy in addition to its efforts to revamp railway development, which is expected to improve both human and raw material mobility to the respective factories that are far away from source of raw materials for production.

Government must expedite action for the passage of the bill that will enable the establishment of the proposed Construction Industry Development Authority (CIDA). This will mark the beginning of dealing holistically with the regulation, growth and development of the construction sector in Ghana. In the interim, we expect to see the following: ongoing projects started by the previous administration to continue; prompt payment for or existing contracts and interest payment on all to contractors to guarantee their sustenance; the need to legislate payment of interest on all delayed payments and a law to ensure that all projects commence on the basis of fund availability.

Dr. Adu Gyamfi, the Vice President of the Association in Charge of Large Scale Sector, called for clarity on the stimulus package, saying that: “we can develop all businesses but at the same time, if we do not put measures in place to, somehow, block the inflow of inferior goods, we will not get anywhere.

He added that the Government must be specific about how much money is in its “stimulus package” for the industrial sector even as the Association of Ghana Industries pledge its support in the “design and implementation” of the package “to avoid waste”.

Mr. Humphrey Ayim-Darke, Vice President of the Association of Ghana Industries in charge of Small and Medium Scale Sector, requested that government include in the stimulus package a strong mechanism to assess its impact on jobs and economic growth. He asked whether the $26 million dollars that the previous government handed over to local drug manufacturers had been assessed to determine if it had made any meaningful impact on the economy.

Mr. Ayim-Darke proposed an analysis of what happened in the past as a guide for the future. The stimulus package process must adhere to a strict and transparent process. A better monitoring system would help avoid poor distribution, corruption, nepotism and inefficiency. Most times, the mindset of Ghanaians is that such packages are given out on political lines and it never considers the supreme interest of the country.


AGI INDUSTRY NEWS

$2BN


AGI INDUSTRY NEWS$2BNGhanaian banks and the private sector, led by the Association of Ghana Industries (AGI), have secured funds to implement the 'One District One Factory' programme of the government.

AGI top leadership and heads of some financial institutions with the Vice President of Ghana, Dr Mahamudu Bawumia, embarked on a strategic mission to China to source funds to implement the 'one district one factory' project.

The mission, which was led by AGI Executives, Mr James Asare-Adjei, President; Dr Tony Oteng Gyasi, past President; Mr Humphrey Ayim-Darke, Vice President of AGI in Charge of SMEs: Mr Seth Twum-

Akwaboah, Chief Executive Officer of AGI; yielded a positive result since the initiative has received a major boost in the form of $2 billion from the Chinese government’s private sector development corporation.

Others on the trip included Mr Alan Kyerematen, Minister for Trade and Industry; and Mrs Gifty Ohene-Konadu, the National Coordinator of the ‘One District, One Factory’ secretariat.

This followed the signing of a Memorandum of Understanding for a funding facility worth up to the $2 billion.

AGI SIGNS $2BILLION FACILITY FROM CHINA FOR THE ONE DISTRICT, ONE FACTORY PROJECT

35INDUSTRY PERSPECTIVES$2BN 35INDUSTRY PERSPECTIVES 35INDUSTRY PERSPECTIVES

AGI INDUSTRY NEWS


AGI INDUSTRY NEWS

Under the agreement, the China National Building Materials and Equipment Import and Export Corporation (CNBM) will provide up to 85% financing for viable projects recommended by the One District One Factory secretariat, which is under the Office of the President of Ghana, and accepted by the banks.

The facility will be offered to the banks at low-interest rates, in the single digits, and has a minimum of an eight-year period of grace for repayment depending on the project.

Among others, CNBM is to construct the factories for beneficiary companies and equip the factories with the requisite equipment on a turnkey basis, to make them fully operational for the successful implementation of the programme.

The MOU was signed in Beijing, China on Wednesday, June 21, 2017, during the four-day official visit of Vice President Dr Mahamudu Bawumia to China, the first by a high level government official since the New Patriotic Party (NPP) took office in January 2017.

GCB Bank, Access Bank, Universal Merchant Bank and the Ghana Import and Export Bank have so far signed up to the compact, although other banks have the opportunity to join them.

After the signing ceremony, the National Coordinator of the ‘One District, One Factory’ secretariat, Mrs Gifty Ohene-Konadu, told the media that the facility would also cater for technical training and the provision of support services.

“The most exciting part of the financing is, the Chinese will provide a huge market access for most of the export commodities, which is expected to bring $2.5bn revenue to Ghana annually.

“This clearly shows how the NPP government is poised to make the private sector the engine for growth of the Ghanaian economy,” she said.

The ‘One District One Factory’ programme is a flagship project of the Nana Akufo-Addo-led government designed to establish at least one viable factory in all the 216 districts in Ghana as part of an industrialization drive aimed at providing jobs and transforming the economic fortunes of the Ghanaian.

Gallery


AGI INDUSTRY NEWS


AGI INDUSTRY NEWS


AGI INDUSTRY NEWS

National Quality Award

The Association of Ghana Industries and the Ghana Standards Authority are calling for nominations for the upcoming AGI Ghana Industry & Quality Awards slated for November this year. The Industry Awards has been instituted to reward

and honour companies that have achieved outstanding success in various areas of industry, maintained standards of quality in production and service delivery, and innovation in the year under review. It is also to motivate and show that

their performance is valued & achievements recognized.

16,

National Quality Award

The Association of Ghana Industries and the Ghana Standards Authority are calling for nominations for the upcoming AGI Ghana Industry & Quality Awards slated for November this year. The Industry Awards has been instituted to reward

and honour companies that have achieved outstanding success in various areas of industry, maintained standards of quality in production and service delivery, and innovation in the year under review. It is also to motivate and show that

their performance is valued & achievements recognized.

16,

AGI INDUSTRY NEWS


AGI INDUSTRY NEWS

The wave of industrialization that started in Britain and swept through the rest of Europe and Northern America in the eighteenth

and nineteenth centuries yielded undisputable benefits to the participant countries, positioning them as dominant players in the world’s economic system. The exclusive grouping of these industrialized countries boasts of the highest levels of employment, per capita income, health care access, food security among others. The G8 which comprises eight of the most industrialised countries in the world, has less than 13% of the world’s population but accounts for over 50% of global wealth. While most countries might have missed out on the Industrial Revolution, it remains possible to make inroads to the exclusive club of industrialized countries through careful planning and growth policies. The G8 was expanded in 1961 to G20 with new entrants from previously unrepresented continents such as Brazil and

Argentina from South America, China, Republic of Korea, India, Indonesia and Saudi Arabia from Asia and South Africa from Africa. These countries have also moved away from an agriculture-based economy into a more industralised one and are referred to as Newly Industralised Countries (NICs) as a result. In fact, countries such as Mexico, Philippines, Thailand and Malaysia became industrialised as recently as in the 2000’s. Sadly, Africa continues to be woefully underrepresented in the league of industrialised countries, with South Africa being the only country on the continent that is considered somewhat industrialised.

The Nature of the Problem

Ironically, Africa’s inability to industrialise has been due to over reliance on the export of raw materials, which drives industrialisation in other countries at its own expense. Africa holds over 60% of the

ONE DISTRICT ONE FACTORY:THE CASE FOR VALUE ADDITION

By Edinam Nyatefe


AGI INDUSTRY NEWS


AGI INDUSTRY NEWS

world’s uncultivated arable land, 99% of the world’s chrome resources, 85% of its platinum, 70% of its tantalite, 68% of its cobalt, and more than half of its gold, among others. Ghana, Ivory Coast and Nigeria alone account for over 70% of global cocoa production but have remained price takers of raw cocoa exports. Shea trees are exclusive to West Africa and produce nuts from which shea butter is extracted; nonetheless, more than half of shea exports is in the form of raw nuts which have not even undergone basic processing to extract the butter, much less refining the butter even further.

Diversifying Ghana’s economy away from primary commodity exports to value added products is key to promoting sustainable economic growth. Until 2011, Ghana’s major export commodities comprised of cocoa and gold. Crude exports from the Jubilee oil fields introduced an additional revenue stream for government from 2011. This came at a time when crude prices were soaring on the world market, thus providing a significant fiscal cushion for government. At peak production levels and at high prices in 2014, Ghana made as much as US$978.02 million from crude exports alone, accounting for close to 10% of total government revenue for the year. This represented an increase of 16 % on the previous year’s petroleum earnings. Within the short period between 2011 and 2014, government became heavily reliant on petroleum revenues to fund its fiscal program and overall

development agenda. Unfortunately, between 2014 and 2015 prices plummeted by over 35%, resulting in a 40% decline in petroleum revenue for 2015 in spite of an increase in production volume. Oil prices have since remained low, eroding a vital source of funding upon which government has become heavily dependent. This clearly demonstrates the challenge posed by the heavy reliance on commodity exports and highlights the need for value addition.

With West Africa accounting for over 70% of the world’s total cocoa output and Ghana contributing 25% of that, Ghana is positioned as the second largest exporter of Cocoa in the world after our western neighbor la Cote D’Ivoire. With such high stakes in world output, one would expect Ghana to be a partaker in a chunk of revenues realized in the industry. Contrary to this expectation, Ghana’s earnings from the export of cocoa reached US$4.7 billion dollars in 2016 of the chocolate industry’s total earnings of over US$100 billion. Ghana’s meagre share in the total chocolate industry’s earnings is attributable to the export of cocoa in its raw state. Chocolate processing countries on the other hand, are able to capture much higher earnings due to their reliance on finished products to generate revenues. As an example, chocolate sales in the USA amounted to US$21.1 billion in 2014. Cocoa prices have declined on the global market in recent times. Between the first quarter of

AGI INDUSTRY NEWS


AGI INDUSTRY NEWS

2016 and the same period of this year, cocoa prices have declined by over 30%. It is estimated that the sharp fall in prices in the last 4 months has resulted in a US$250 million loss of revenue to Ghana. This clearly demonstrates the huge revenue loss from over reliance on a primary commodity export and highlights the need for value addition.

Recommendations

The industrial sector saw a 1.2% decline in growth in 2016. In government’s quest to boost industry, the One District One Factory Initiative was introduced. This initiative aims at ensuring equitable distribution of factories at the district levels as opposed to the current situation where production and manufacturing facilities are concentrated in the largest urban areas of Tema, Accra, Kumasi, Takoradi and Tamale. Government has proposed the establishment of a factory in each of the nation’s 216 districts. However, with 2016’s fiscal deficit coming in at 8.7% of GDP (on cash basis), government does not intend to carry out this initiative single handedly. Government intends to drive the strategy through the private sector. With Ghana’s rich endowment in primary commodities, factories to be built under the One District One Factory Initiative should be mainly focused on adding value to our export commodities. This will serve as a hedge against fluctuating global prices and allow us to partake in higher revenues through the export of value added products

It is also worth noting that the process of transitioning from a commodity dependent country to an industrialized one is not attainable in the short-run. China’s industrial revolution for example, which astonished the world, took about 35 years. Major reforms were undertaken to transition China from a vast impoverished agricultural economy to an industrial one. Today, China is the world's largest manufacturing powerhouse. Beyond the One District One Factory Initiative, a long-term plan that outlives the tenure of office of a government must be put in place, monitored and followed through. The long term plan should be built with consensus between political parties so as to ensure its continuity.

Since extraction of crude in commercial quantities began in Ghana, the oil has been exported to refineries overseas that have the capacity to refine

Ghana’s high-grade crude. Ghana’s only refinery, the Tema Oil Refinery (TOR) has a capacity to refine 45,000 barrels of crude per day but is operating below this level. Oil produced from the Jubilee and TEN averaged 88,487 barrels per day in 2016, exceeding TOR’s actual capacity by almost 100%. With commercial production of oil from other fields set to begin, there is a need for TOR to be revamped to ensure full capacity utilisation. Additionally, a plan should be put in place for the expansion of TOR to increase its capacity.

In order to promote industrialisation in Ghana, government should set minimum quantities of commodities that must be retained for local processing. The introduction of this strategy would be necessary for commodities which local industries face competition for supplies from the international market. The existence of institutions that are sole exporters of a commodity such as the COCOBOD will ensure the effective monitoring of such a strategy. Hence, for commodities without institutions to act as sole exporters, government should set up institutions to act in that capacity. The establishment of such institutions will require some time, government should therefore adopt interim policies such as the imposition of high taxes on raw commodity exports whilst making the policies on the export of finished and semi-finished products very flexible so as to encourage the sale of commodities to local processors. Currently, 90% of cashew produced in the country is exported, and in order to protect the local cashew processing industries, the Ghana Export Promotion Authority is advocating the imposition of taxes on the export of raw cashew to encourage farmers to supply cashew to local industries for processing.

Conclusion

The benefits to be harnessed by adding value to our export commodities cannot be over emphasized. The export of value added products serves as a hedge against fluctuating global prices of primary commodities while increasing our export earnings. Again, we stand to benefit from a significant reduction in trade deficit through the export and local consumption of value added products. Diversifying Ghana’s economy away from primary commodity export to value added products is key to promoting sustainable economic growth.


AGI INDUSTRY NEWS

References

https://www.cfr.org/backgrounder/group-eight-g8-industrialized-nations

https://www.bog.gov.gh/privatecontent/MPC_Press_Releases/Summary%20of%20Economic%20&%20Financial%20Data%20-%20May%202017.pdf//pdf.usaid.gov/pdf_docs/Pnadu686.pdf

http://www.graphic.com.gh/business/business-news/cocobod-s-gh-10bn-debt-worsens-over-weak-cocoa-prices.html

https://www.franchisehelp.com/industry-reports/chocolate-industry-report/

https://www.modernghana.com/blogs/396564/africa-day-2012-a-moment-for-reflection-and-celebration.html

http://www.reportingoilandgas.org/ghana-earned-over-3bn-from-petroleum-revenue-between-2011-and-2015/

https://www.ghanabusinessnews.com/2016/05/25/157624/

https://library.fes.de/pdf-files/bueros/ghana/10490.pdf

https://www.statista.com/statistics/262473/chocolate-sales-of-the-united-states/

http://www.mofep.gov.gh/sites/default/files/budget/2017%20BUDGET%20STATEMENT%20AND%20ECONOMIC%20POLICY.pdf

http://www.reportingoilandgas.org/ghana-earned-over-3bn-from-petroleum-revenue-between-2011-and-2015/

http://www.mofep.gov.gh/sites/default/files/budget/Budget-Highlights-2015.pdf

http://thebftonline.com/business/agribusiness/24906/tax-raw-cashew-exports-gepa.html#sthash.EaIruOhz.dpuf


AGI INDUSTRY NEWS

AGI URGES GOVERNMENT TO SUSTAIN STABILITY IN BUSINESS ENVIRONMENT

PRESSSTATEMENT

»


AGI INDUSTRY NEWS

Business confidence continued to rise from 103.8 to 109.2 in Q2, 2017 according to the AGI Business Barometer report. Government’s effort towards ensuring macro-economic stability in the first half of the year is paying off. Against the background of a relative stability in exchange rate, policy rate and inflation figures dropping consistently, businesses expect to see the macro-economic fundamentals impacting positively on cost of doing business. Expectations of the One-District-One-Factory initiative and the stimulus package have also added to the outlook for quarter two. AGI therefore commends Government for the relative stability in the economy and urges the managers of the economy to endeavor to sustain and improve on the macro-economic indicators.

The Association would however like to draw Government’s attention to some of the worrying concerns that must be addressed to further boost confidence, going forward;

The high cost of electricity tariffs continues to render Industry uncompetitive. Reductions in energy sector levies have not reduced tariff levels significantly and it is critical for the current tariff regime where Industry pays more than residential consumers to be reversed. At tariff levels of over 19 cents kw/h, it is important to re-examine the current utility pricing and tax regime, if Government is to chart a competitive path for Industry. To this end, AGI re-iterates its commitment to work with the Energy Ministry and PURC to find lasting solution to energy pricing for Industry in Ghana. Government’s plan to seed 51% of the concessionary arrangement for local

participation is laudable and AGI believes it will go a long way in resolving the cost of power to Industry. We urge Government to intensify the dialogue with Industry on the 51% composition.

For the third time running, policy rate saw another reduction (22.5% to 21%) in the last review. Nonetheless, Cost of Credit and Access to medium to long-term credit still remain major bottlenecks to businesses. Currently average lending rates are still high and it’s obvious that the declining policy rate has not inured to the benefit of borrowers. Where available, businesses are unable to borrow on account of the high cost. Government must make every effort to ensure that the reduction in policy rate translates into lower interest rates.

AGI urges Government to expedite action on easing port clearance procedures under the Single Window System and in line with best practice. Businesses still complain of undue delays and unapproved fees charged at the ports, adding up to the cost of doing business. Available data from the 2016 “World Bank Doing Business Across Borders” report indicates that Ghana ranks low, 154 out of 189 countries, trailing behind Cote D’Ivoire (150), Burkina Faso (102) and Togo (117). However we acknowledge Government’s intervention to improve operations at the port.

Finally AGI urges Government to deepen its stakeholder consultations, including putting the necessary measures in place to ensure smooth implementation of all Amended Acts relating to business in order not to disadvantage Industry or bring undue cost to businesses.

Mr. James Asare-Adjei President of AGI

*Terms and Conditions apply


AGI INDUSTRY NEWS

As part of the Entrepreneurial Knowledge Forum 'EKF' training series, The Accra Regional Branch of the Association of Ghana Industries (AGI), in collaboration with Syscon Consulting Limited and TÜV

Intercert SAAR GmbH, has organised an ISO Management training for its members.

The training falls under the Entrepreneurial Knowledge Forum (EKF) Training series.

And it is part of the commitment of AGI to scale up the capacity of members for the ‘Local Content’ and the ‘One District One Factory’ objective, to provide nationwide ISO/OHSAS-Management Systems awareness.

It was facilitated by Mrs. Gauri Bhagwat, the CEO of Syscon Consulting Ltd and Executive member of AGI, Accra Branch and a resource person who has dedicated 23 years in developing human resource in Ghana, by making ‘ISO’ a reality for many companies of national and international repute.

The session was addressed by the Director of Finance and Administration of AGI, Mr Nathaniel Quarcoopome, who said, "One of AGI key objectives is to hone the capacities of members and so this ISO Management training is necessary to scale up the performance of members to make them competitive in the international trade arena, and with the ‘One District One Factory’ concept in the offing, and the

ISO MANAGEMENT TRAININGFOR AGI MEMBERS

AGI INDUSTRY NEWS


AGI INDUSTRY NEWS

potential for Ghana to move from import-reliant to value- added economy, it is essential to adopt and be abreast of internationally recognized standards of performance.

The ISO 9001/ 14001/ 22000/ OHSAS 18001 standards provide guidelines for establishing respective management systems for Quality, Environmental and Food safety OH & Safety management systems respectively.

The Implementation of management systems based on ISO standards, promotes adoption of a risk-based thinking and process approach that provides a sound basis for sustainability and continual improvement.

Syscon Consulting Limited is a leading training, consultancy and auditing service providers in the field of ISO-Management systems.

Mrs Bhagwat holds MSc in Management of Quality Excellence (UK), and another? in Plastics Engineer (India).

As a seasoned management systems professional with 30 years of experience, she is a Lead Auditor for Quality/ Environmental/ Occupational Health and Safety Management systems, Lead trainer certified by International Register of certificated auditors, IRCA, UK; and also Auditor for Social Accountability, Food Safety Management Systems.

She has dedicated 23 years in developing human resources in Ghana, by making ISO 9001/14001/ 22000 and OHSAS 18001, a reality for many companies of national and international repute and has trained more than 1,500 management systems auditors.

Her firm has partnered with TÜV Intercert SAAR, which has ISO-certified many organisations mainly from telecom, oil and gas, renewable energy, and construction sectors in Ghana.



AGI INDUSTRY NEWS

Agri cultureThe world is shrinking, the crowds are getting bigger, bolder and

stronger. We are all getting desperate looking for the good and wanting to hold on to it for dear life for all we see and hear is

about the brand of terror groups we are surrounded with. There is terror in voices, in schools, in playing, in cinemas, books and even the terrifying types of foods some eat. In this scenario people come together to share a bond in whatever way they can, to share the good, the bad, the past, the present and the future. These crowds can be destructive as it is normally presented to us in the media, or they can be constructive which is hardly showcased to the masses.

Whilst we feel during this desperate times that humanity is fading away, in some areas in the gambit of the online world some crowds come together to make the world change for the better. The perfect place to drive the game changers and to reach out to those who are willing not to move with the crowd (the destructive kind), and those who want to reach into their pockets and make a positive difference in this world for a better tomorrow are the game changers. They are the restorers of faith and hope and present the realm of possibilities. If you can dream it, you can do it. Welcome to the world of what has been branded as Crowd-funding, the way to jumpstart a business.

CROWDS, FUNDS &

CEO, African Brand Warrior & Vice- Chairperson of the Agriculture Sector at AGI.

Fatima Ali Mohamed


AGI INDUSTRY NEWS

The marketing approach for entrepreneurs who break the norm and create an emerging group of movers and shakers. Crowd-funding helps these creative people find ways to get capital to turn their ideas into reality. It is happening all across Africa, a vibrant continent where we are not short of ideas but short of the funds to turn those ideas into a reality minus a middleman or broker. It is a common song across the African Continent that ‘we are bursting with ideas, but lacking the financial support’. Well in some cases, the fat lady has sung.

When I log into the most common crowd funding sites such as Kickstarter or Indiego to update myself on projects and ideas, I get amazed at the ideas that are out there, all born of a simple seed with the aim of improving and uplifting the lives in society. By now all are aware of this African Brand Warrior being an advocator for our Continent Africa and more so for sustainable agriculture on our lands. You can imagine my excitement on coming across the most exciting and unique marketing idea that is a spin-off from Crowd-funding; Crowd-farming! I hope everyone in Government, Business, Banking or even farmers have their ears perked up. Here are farming ideas being funded online and others partake in creating a sustainable method that impacts everyone in the value chain. What a novel idea and something our fellow Ghanaian farmers can look up to, considering the fact that we have a positive and aggressive agenda to drive with the ‘Planting for Food’ and the ‘One District One Village’ programmes that we need to turn into a reality.

A perfect example is the crowd-farming idea of www.naranjasdelcarment.com. The marketing idea being pushed is to become a 21st Century farmer! At 80 Euros, you plant 1 tree (virtually) which guarantees you 80 kg per year which is harvested for you and shipped to you anywhere in Europe and all you pay is the shipping cost. In the second year, at 16 Euros the ‘caretaker’ continues to take care of your tree and ensures its growth via organic methods. As you crowd-fund this project, you are helping someone to utilise their land and to produce fruits for you and to also sell. Isn’t this a novel idea? Can you imagine if we all gave in to the opportunity to utilise our lands in this form and grow both for us at home/domestic country and the rest of the world how easily we have made everyone become a part shareholder of the value chain? Can we grow this idea for the maize, cocoa, Palm and cassava industry here in Ghana? Almost all the time projects fail to start up purely because of lack of funds or lack of a market. Here both are addressed and there is no physical

ownership but physical performance and growth! As the Nkosohemaa for Memia, perhaps I should look at this as a good start to uplift the lives of my people.

Crowd-farming has gone the next step forward to introducing the idea to our most crucial sector, the smallholder livestock farming! This, for me, takes the Nobel prize. Take a peek into www.farmable.me and see how this fantastic idea is making a change in the lives of smallholder farmers utilising the crowd-funding mechanics but in a fun and creative way. The objectives stated are meant to partner 250 smallholder farmers, increase their herd size by up to 25%, and increase average profit by the smallholder partners by 10%. All this is through crowd farming involving 7500 cattle from smallholder farmers and sell 5000 cattle. Can you imagine, one can now not only be a shareholder of a cow but you get to also name your cow online? This is happening right here in Ghana! I am searching for this project to see it live on the ground. A perfect supply value chain is created to ensure quality fresh local beef instead of the many months of importing old beef we are eating (as you can see, I am not a supporter of imported foods and meats when I can have them fresh on our land). This is an investment in an area we Africans relate to as it ties back to our nomadic days of cattle herding. We were much richer and happier then and can now recreate that same period in a more modern way and relieve a farmer of the burden as one individual. South Africa too has taken on this very same approach to crowd farming, showing that in Africa we are fantastic adopters.

The opportunities to relook at how our budgets, as a Nation (and for every Country on this Continent), are spent is amazing. Ideas of how to build our sector is glaring to us. All Government dockets, non-governmental organisations and related bodies representing various agriculture sectors need to revisit the strategies and budgets communicated and communicate with marketers and strategists on how we can make a difference in a measurable, responsible and accountable manner. Instead of cutting and adding budgets to the agric sector with no real tangible growth, we can now change the approach and make a difference. Individuals in a crowd with a powerful idea have shown this is possible, so what is our excuse? Let us roll our sleeves and get back to our farms in a much more interesting, guaranteed and modern way.

Fatima Ali Mohamed is the CEO of African Brand Warrior and the Vice- Chairperson of the Agriculture Sector at AGI.


AGI INDUSTRY NEWS

Industry Watch

Anticipating Customers’ Needs

Times have changed and its high time customer service delivery is considered in a different light. We were taught that businesses should learn to identify their customer’s need in order to serve them well. We are however in times when product life cycles have become shorter and shorter, with product innovation and upgrades being the order of the day. We see how the telecom industry with the advent of digital finance has disrupted financial services delivery. Banking services, food vendoring, retail services and others have all evolved. Bankers are now seen visiting customers in their place of work or residence to serve them. This is noticeable with the microfinance, the Savings & Loans and some SME banks and the premium banking services for the high net-worth client. What is the thinking here? These services began with one bank deciding to ANTICIPATE CUSTOMERS NEEDS rather than just identifying current ones. They saw the need of the customer who may be too busy to leave their business and visit the bank for transactions. Likewise food vendoring, personal grooming services and other services have followed on, all having anticipated that their clients may not have the time to come to them to patronize their services. The fact is sometimes customers may not know what they want until it is introduced. It could also come under product development and innovation but the underlying thought is in making the customer happy. In these modern times customers are bound to be happier with businesses with the ability to ANTICPATE NEEDS and meet those needs as against those who are merely meeting core needs.

By: Amma Adjeiwaa AntwiM-DoZ Consulting

The 3 Big Blocks of 21st Century

Customer Service

For the 21st century business to make a mark in

customer service delivery, they should go beyond the

ordinary. They should learn to anticipate customer needs and introduce products and

services to suit anticipated needs, go the extra mile to

give a wow experience to customers and lastly build

“customer service behavior” into all employees.


AGI INDUSTRY NEWS

Exceeding Customers’ Expectations

We were also taught to satisfy customers’ needs, but trends have proven that businesses are supposed to EXCEED CUSTOMERS’ EXPECTATIONS as against just giving them what they primarily want. The one who goes to eat fufu in the chop bar, knowing it is a chop bar may not expect much, but if the pre-eating handwashing water is brought warm and disinfected, customers’ expectation would be exceeded. The one who eats in the restaurant may have their needs exceeded if they are able to get some nutrition tit-bits as they enjoy the meal. This is what we call the ‘wow’ factor. These are the extra perks that customers do not expect but when experienced; it sweeps them off their feet. This principle works especially when there is an opportunity to right a wrong a customer experienced while patronizing the service.

It is great if the customer got all they needed in a shop and got served well by the cashier. But if the customer is carrying a baby, it would be wow if a shop assistant would accompany the customer with their items and help them pack into their car. Fortunately the extras that create the wow factor do not cost much and may not demand much effort. My family had the chance of buying a TV not too long ago. We were about to walk out of the store with the mind of going to scour the market further more to see if we could get better options. This young guy walks up to us and begins to talk us through the various features and their pricing justifications. He is the one who explained to me what the 3D feature is and how you can rightly judge the value of what you are buying with its features and benefits. The shop representative absolutely knew his stuff and guess what; we bought the TV from the store. In this case, the wow factor was the expert product knowledge he had. It could be argued that this was expert selling, but his patience to break such technical knowledge down was the service we well appreciated, mind you information gathering is the second step in the customer’s buying decision once they see the need to acquire the item. We were ‘wowed’, and we bought.

External Customer Only

The third big block of customer service is a fad that needs to be challenged to correct an erroneous impression. For customer service to thrive in an organisation it needs to be central to the organisation’s strategy. In that case everyone in the organisation thinks excellent customer

service and actually ‘behaves’ customer service I personally think there is only one customer, the King, the one who patronises our businesses, that is the EXTERNAL CUSTOMER. Basically the so called internal customer is the employee. The employee should be seen as such and properly managed for optimum engagement. I agree to the fact that happy employees leads to happy customers. However, every employee should be made to think that there is a good customer out there who puts food on their table. Employees, from Back office, IT department and other units through to factory hands in manufacturing should be made to ‘see’ that one big customer. Both customer facing and non-customer facing employees should be made to know that they serve that (external) customer who they may or may not see at all. If this customer’s expectation is exceeded or at least met they also receive their salaries and other rewards, if not they starve.

For organisations to achieve a good all round customer service excellence, every staff from CEO to the last man/woman should be made to ‘think’ and ‘see’ that one EXTERNAL CUSTOMER who pays their bills. I am tempted to debunk this notion of the internal customer and the external customer. Our training sessions drill down to making staff ‘see’ this (external) customer and makes customer service an organisational behavior other than just another module in the training bouquet. It appears to be a tedious task but it eventually pays off.

For the 21st century business to make a mark in customer service delivery, they should go beyond the ordinary. They should learn to anticipate customer needs and introduce products and services to suit anticipated needs, go the extra mile to give a wow experience to customers and lastly build “customer service behavior” into all employees.

About M-DoZ Consulting

M-DoZ Consulting offers Business Consulting, Corporate Training and Retirement Planning Services. Areas of expertise include Talent Development, Strategic Planning, Retail Operations, Business Communication, Risk Management, Customer Service Excellence and others. You can contact us on: Tel: +233247-247-200, +23320-1196-080

Email: [email protected], [email protected]

Facebook: mdozconsult/ghana


AGI INDUSTRY NEWS

AGI MEMBERS IN PARLIAMENT AND GOVERNMENT

Hon. Archibald Yao Letsa Volta Regional Minister

Mr. Carlos Kingsley Ahenkorah Deputy Minister of Trade and Industry


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AGI INDUSTRY NEWS

AGI MEMBERS IN PARLIAMENT AND GOVERNMENT

Mr. Yoofi Grant Chief Executive Officer, Ghana Investment

Promotion Centre

Mr. Ato Panford Member of Parliament for the Shama Constituency in the Western Region


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AGI INDUSTRY NEWS

CURRENT WOMENLEADERS IN AGI

She returned from Germany as an Anaesthetic and Intensive Therapist. She founded Processed Foods and Spices Limited until 2015 when the name was changed to Samba Foods Linmited

after listing on the Ghana Stock Exhange.

She won Marketing Woman of the year award from CIMG in 2001. SAMBA now produces Shito to KFC and groundnut paste to Cocoa

Processing Company for the production of Choco Delight.

• CIMGMarketingWomanoftheYear

• SeatoftheVoltaawardedbythelateex-PresidentJEAMills

• AnotherAwardsfromCoteD’Ivoire

• HallofFameAwards

• TheWomen’sExecllenceAwardbytheMinistries

• WestAfricanNoblesAward

• TheBestListingCompanyoftheYear

• TheMostInfluentialAfricanBusinessWomaninBusinessandGovernance

• AnAwardfromIndia

• GIPCawardedSambaFoodswithaVehicleforbeingamemberofGhanaClub100

LETICIA OSAFO-ADDO, National Treasurer,CEO of Samba Foods

NORA BANNERMAN-ABBOTT Executive Member, CEO of Sleek Garments Export Ltd.

(Nora Bannerman) is an Executive Member of the Association of Ghana Industries and the Chief Executive Officer of Sleek

Garments Export Ltd accomplished fashion designer and business entrepreneur with over thirty-seven years (37) of experience

promoting indigenous business and successfully managing a number of companies. Her rich experience in trade policy negotiations,

business enterprise development, an understanding of the local business environment coupled with her extensive experience in the clothing and fashion

industry on the international and local arenas, places her in a unique position to contribute meaningfully to policy efforts for helping indigenous enterprises and especially with the revamping of the clothing and textile industry in Ghana. Over the years she has served in various capacities and gained skills in the areas of business management, export promotion, trade policy negotiation, business development and export marketing.

National Council Members:


AGI INDUSTRY NEWS

She is an accomplished fashion designer and business entrepreneur with over thirty-eight years (38) of experience promoting indigenous businesses and successfully managing a number of companies

Professional Expertise:

• CEOofSleekGarmentsExportLtd,AGOA’ssuccessstoryin2007afterexportof75,000totheUSunderAGOA

• ManagingDirectoroftheawardwinningSleekFashionLtd.promoterofAfricanprintandBatikclothingonglobal markets

• Director of Sleek Fashion Institute, supportedSleekGarments to train over 400 youth in 2013 underCOTVET/SDF skills development programme

• InternationallyacclaimedawardwinningFashionDesigneronParis,London,NewYorkDusseldorf,SouthAfrica etc.

Membership of Professional Associations:

• One of 6 Members of the National Executive Council, Association of Ghana Industries (AGI)

• Chairperson AGI Industry Awards Committee

• Chairperson Garments and Textiles Sector, AGI, 2012-2014

• Member of the National A.G.O.A. Implementation Committee

• Past Vice- President of the SPINNET Cluster

• President of the Garment Exporters and Manufacturers Association

ROTARY INTERNATIONAL MEMBERSHIP

• President (2013-2014) Rotary Club of Accra North

MRS GYAMFUA OWUSU-AKYAW, Ashanti/BA Regional Chairperson, CEO of Gyamfua Ababio Investments

Is a Ghanaian and a business executive with over 30 years working experience in business management and vast

entrepreneurial experience. She holds a BA Economics Degree and Post Graduate Diploma in Management and Marketing from

the Institute of Commercial Management (ICM – UK). She started as a trader, and later as an importer of used clothing until she shifted to

the manufacturing business in 1999 as the Managing Director of Gyamfua Ababio Investments Ltd and the CEO of Royal Lamerta Hotel Ltd, which was

established in 2010.

She is very energetic with high business acumen. She is highly adept in sales, marketing and promotion in the manufacturing industry, and human resource management.

She is the current Ashanti / Brong Ahafo Regional Chairperson for the Association of Ghana Industries and also the President of St. Monica’s Old Student’s Association northern sector, Ghana, and listed in the “St Monica’s Hall of Fame”, and member of the GLOBAL LEADERSHIP NETWORK.


AGI INDUSTRY NEWS

MS. BLESS BETTY DAVIES NERIAH Volta Regional Chairperson, MD of Akweni Construction and Projects.

MRS KATE QUARTEY-PAPAFIO, Electrical & Electronics Sector Chairperson, CEO of Reroy Group Limited.

A member of Akweni Construction and Project Management Limited, Neriah Havens Consult and Amsain Investment Group.

With love and passion, she is the founder of Child Desire, Support Africa Foundation and African Women Development Initiative.

She is also the Chairperson of the Association of Ghana Industries as well as the Vice Chairperson of the Association of Road Contractors in the

Volta and Eastern Region respectively.

Vice Charperson of Tema Regional Branch and CEO of Tropical Cable

A courageous Ghanaian Industrialist, Mrs. Kate Quartey–Papafio is a firm, proactive and resourceful leader who sees risks and challenges

as opportunities for growth and development. To her, gender cannot be an excuse for non-performance.

She founded Reroy Cables Ltd in 1992 to distribute high quality electrical cables and as at today, Reroy Cables represents the repositioning of one of the iconic brand names in Ghana’s cable manufacturing and Aluminium application industry which goes beyond its basic power cables business to deliver a complete power solution. As a major player in the production and distribution of power cables, conductors, provision of electrical power distribution system and strategic contract services to the electricity sector, its business is also linked to the electricity distribution and transmission.

Over the last two decades, she has led Reroy to build a brand, which has now become synonymous with our core values of excellence, integrity and continuous improvement.

She was on 18th October 2014 crowned the Chartered Institute of Marketing Ghana (CIMG) Marketing woman of the year 2013 and on the 12th December adjudged winner in the Entrepreneurship category at the maiden edition of the Osagyefo Kwame Nkrumah African Genius Award and her company Reroy cables limited was adjudged the Manufacturing Company of the year 2014 at the latest National Marketing awards organized by the Chartered Institute of Marketing Ghana.

Other achievements include Winner 2013 Ernst & Young West Africa Entrepreneur of the Year Award, Africa’s most influential Women in business & government Awards 2013; CEO Communications Limited, South Africa and Silver Award; 3rd Ghana-Africa Business Awards 2008. She was also a panel member at the 2015 Global African Investment Summit, UK. The European Business Assembly in Germany recently adjudged her the Best Manager. At the same ceremony her company Reroy Cables Ltd was named the Best Enterprise. She was in December 2016 Honored at the Ghana Property Awards. She was again honored as the Business Woman of the 2016 by the Ghana Economic Forum at the Excellence Awards 2016


AGI INDUSTRY NEWS

MRS GRACE AMEY-OBENG, Toiletries and Cosmetics Sector Chairperson, CEO of FC Group Limited

Mrs Grace Amey-Obeng is a Medical Aesthetician, Beauty Therapist, Industrialist and Philanthropist. She is the CEO of the

FC Group of Companies which she founded over three decades ago. The FC Group now has five subsidiaries, which are; FC Skin,

Beauty & Dental Clinic, FC Beauty College, FC Cosmetics Industries, FC Perfumery & Cosmetics, and Salon Equipment and Beauty Supplies

(SEBS).

In 2007, she founded the Grace Amey-Obeng Foundation International (GAOFI) to reduce the phenomenon of sex for money among young girls by offering them alternative source of livelihood through vocational and entrepreneurial training as well as mentorship.

MS. N. ADJOBA KYIAMAH, Beverage Sector Chairperson, Legal and Corporate Affairs Director of Accra Brewery Limited

N. Adjoba Kyiamah is currently the Legal & Corporate Affairs Director for Accra Brewery Limited, the Ghana subsidiary of

ABInbev, the world’s largest beer company. She is also the Beverage Sector Chair at the Association of Ghana Industries.

She has over two decades worth of experience in very diverse roles, including media, urban planning and legal practice.

Seventeen years of her career have been spent in senior corporate management roles with an excellent track record of managing stakeholder engagements, corporate transactions and communications.

Adjoba holds a Bachelors Degree in Geography from the University of Ghana, Legon; a Masters Degree in Urban planning and Development from the University of Manchester, UK; and a Qualifying Certificate of Law from the Ghana School of Law.


AGI INDUSTRY NEWS

MRS NANA C. A. BEECHAM, Information and Communication Technology Chairperson, CEO of Seatec Telecom Services Ltd

MRS DORIS NANA KESSE, Textiles and Leather Chairperson, MD for D-G Embroidery

Nana studied Economics and Business and has worked in the ICT field in a marketing, administrative and project management

capacity for the past 19 years. She manages Seatec Telecom, a leading provider of enterprise communications technology solutions in

Ghana, which serves many key entities including top hotels; government institutions, banks and insurance companies, non-governmental

organizations, large multinationals and manufacturing firms with world-class enterprise communication solutions that enhance their productivity and cut costs whilst improving their interactions with customers. She is currently the Chairperson for the ICT Sector of the Association of Ghana Industries (AGI).

Nana has a flair for sales and marketing and is very passionate about building and maintaining Customer Relationships. As a second-generation manager of a family business, Nana has experienced first-hand the challenges associated with family-owned businesses and is very keen to find solutions to issues that greatly impact the survival and growth of such institutions in Ghana.

Over the past 10 years Nana has been involved with a number of organizations that provide support to young women in various contexts primarily through coaching and mentoring.

In 2010, with the collaboration of the Black Women’s Leadership Council, a Xerox Corporation caucus group, Nana founded the Girls in Science Project to provide support to girls and young women studying science through mentoring sessions, seminars and workshops as well as supply of study resources.. The objective is to ignite in these girls the passion to pursue careers in Science, Technology, Engineering and Math in a bid to secure their future.

Nana is also passionate about improving opportunities for rural Ghanaian youth through enhanced literacy skills and she constantly seeks partnerships in order to better achieve this.

Nana is an active practicing Christian and is married with 3 children. She enjoys reading, sewing, teaching and counselling.

Doris Nana Kessie has actively been working in the domestic and international fashion business industry for the past 35 years. She

started out her career as a factory garment worker and dressmaker, and then finally as an embroiderer with the passion to educate others

through the development of her own business and a fashion institute.

With a passion for artistic creations, Doris spent her entire adult life sewing and designing couture clothes for her family and friends. This exposure

and deepening of experience grounded her skill sets and led her to train over 38 young apprentices whilst steadily securing clients for 25 years. Upon relocating to Accra in 2004, Doris launched D-G Embroidery as her sewing and design business evolved to include embroidery and screen printing.


AGI INDUSTRY NEWS

Initially beginning with a free hand embroidery machine located in her home study, Doris invested in two digital machines in 2004, and by 2008, invested in one 4-head embroidery machine, a button making machine and a 6-head screen printing machine. Within a few years, the small home-based business expanded into a successful medium-sized embroidery venture with over 35 clients (mostly repeat) such as West African Gas Pipeline (WAPCO), Japan Motors, Danadams Pharmaceutical, State Insurance Company (SIC), Agricultural Development Bank (ADB) and other individual business interests.

Since 2010, Doris has had the privilege of interacting with student interns from the Accra and Takoradi Polytechnic Universities, and in 2016 was inspired to add other creative endeavors such as bead making, tie and dye, hand embroidery, and batik printing to the business.

Fatima Alimohamed is the CEO of African Brand Warrior and is a Kenyan. She also sits on the Association of Ghana as the Vice

Chair of the Agriculture Sector and on the International Trade Committee. She is an advocator for Africa and African brands

with a solid background across Africa that leads her to change from boots to heels. Fatima is a thought leader in Strategy, Brand

Development, Consumer Relationships and insights, NPD, Marketing and Communication. She earlier was GM and thereafter GM Commercial for Wilmar

in both the Palm and Shea Industry in West Africa and has been representing the industries in various positions and boards.

Fatima is known for recreating, rebranding and taking the Frytol brand that was bought over from Unilever by Wilmar to become Ghana’s Number 1 brand. She single handedly repositioned the brand and made it the pride of Ghana leading it to win international acclaim.

MS. MANSA AMOA-AWUAH, Advertising Association of Ghana (Associate) Sector Chairperson, CEO of Saki Publicity

FATIMA ALIMOHAMED, Agri-Business Vice Chairperson, CEO for African Brand Warrior


AGI INDUSTRY NEWS

MSc -Management of Quality Excellence (UK), Plastics Engineer (India).

As a seasoned management systems professional with 30 years of experience, she is a Lead Auditor for Quality/ Environmental/

Occupational Health and safety management systems, Lead trainer certified by International Register of certificated auditors, IRCA, UK; and

also Auditor for Social Accountability, Food Safety Management Systems.

She has dedicated 23 years in developing human resources in Ghana, by making ISO 9001/14001/ 22000 and OHSAS 18001, a reality for many companies of national and international repute and has trained more than 1,500 management systems auditors.

She is CEO of Syscon Consulting Limited, a Training, Consultancy and Auditing service provider in the field of ISO-Management systems. Syscon has partnered with TÜV Intercert GmbH, which has ISO-certified many organizations, mainly from telecom and oil and gas sectors, in Ghana

She is an Accra Regional Member of the Association of Ghana Industries, and also the Chief Executive Officer of CreatLine

Senses Company Ltd.

Ama Atwema Amankwah is a corporate branding expert.

CreateLine Senses Limited is a dynamic relationship-oriented advertising and media company founded in February 2012 specialized in

corporate functions, office refurbishment, corporate souvenirs development, interior designs and space planning, building, and construction and real estate development.

MRS. GAURI BHAGWAT, Accra Regional Executive Member, CEO of Syscon Consulting

MS. AMA ATWEMA AMANKWAH, Accra Regional Executive Member, CEO of CreateLine Senses

Other Executive Members:

She has been the Chair of the Marketing Society of Kenya, Founder Marketing Society of Tanzania and Uganda, The Vice President CIM- Kenya, Member of various Marketing and Advertising Boards. She was with Bidco Oil Refineries and Bidco Uganda overseeing Marketing and Sales of leading brands in East Africa and was Regional Director for very powerful brands of MNC’s whist at Ayton Young & Rubicam. Fatima was honoured with the TOP 50 CMO’s Global award and the TOP 100 Most Talented Marketers Global Award. Fatima was recently honoured with the Mother of Ghana award for a social brand cause and was recently enstooled as the Nkosohemaa for Memia in the Western region Ghana. She is also an avid writer in various publications and an astute speaker.

AGI INDUSTRY NEWS | 17


AGI INDUSTRY NEWS

This is an opinion article to call attention to a few things we all are guilty of in one way or another, which eventually reduce the bottomline of companies.

Do you encounter blame games in your company? Please, sit back and observe things quietly. When employers or management keep blaming others for occurrence of risk events, employees can become introverted, leading to a culture of silence. Do you notice that many examples of financial scandals result from the people risk factor? Perhaps, some of these errors and omissions could have been avoided or minimized if some responsible persons had listened or adopted good communication skills. The culture of silence is the effect of a breakdown in in communication, culminating in losses and eventual blame game.

Every CEO has good intentions for the company

but such intentions should be managed well in relation with the roles and feelings of those who would help to bring such intentions into fruition.

As a former employee, I worked under various Chief Executive Officers (CEOs) and I can comfortably say that no chief executive means harm to his or her organization. Most leaders mean well for their organizations. Nobody wants to be associated with a failed institution. After all, when the company basks in glory and receives a lot of media hype and awards, it is the CEOs who enjoy the honour most.

Self-talkCan employers and employees alike have a self-talk and reflect on how their actions or inaction can contribute to reduction in their companies’ bottomline? When things are going wrong in your organization, ask yourself the part you have played in bringing about that situation. What is your contribution? If you are not the CEO, do you still offer help, advice, take action, make recommendations to quickly reverse the situation, or decide to be silent about it because the CEO is too bossy and does not listen to advice? Are you waiting to allow things to deteriorate to the extent that the CEO would be asked to leave? Or in the case of private companies, you just pack up bag and baggage and leave?

What is Silence?

Silence is associated with many virtues: modesty, respect for others, prudence, decorum and the like. Thanks to deeply ingrained rules of etiquette, people silence themselves to avoid embarrassment, confrontation, and other perceived dangers. There is an old saying that sums up the virtues of silence: “Better to be quiet and thought a fool than to talk and be known as one.”

The Need to SurviveSilence is a virtue but sometimes, people decide to remain silent even when they have good intentions to improve or offer good advice. The social virtues associated with silence are reinforced by our survival instincts. All organizations work with policies and procedures and no one can just get up and challenge them. Moreover many organizations send the message — verbally or nonverbally — that falling in line is the safest way to hold on to our jobs and develop our careers.

In this present day’s difficult economy, where millions of people have lost their jobs and many more worry that they might face similar fate, employees find it very difficult when they observe that some supervisors are not working as they should, and even condone unethical acts. In tyrannical organizations, poor decisions cannot be challenged and sometimes a group of employees recognizes that a senior executive is making a poor decision but are not in the position to make any contribution. People who speak out sometimes get ostracised and indirectly punished.

Should Silence Supersede action?Silence often starts when we choose not to discuss a difference. We all have our unique differences in our temperaments, backgrounds, and experiences, and it is therefore inevitable that we will have different opinions, beliefs, and tastes. Is it not therefore obvious that we should recognize the value of such variety. Who really wants to go into a brainstorming session with people who all have the same views and ideas? Is it not boring? We all cannot be “yes men”. When there are differences in opinions, why can’t they be handled professionally, devoid of unnecessary emotions? Sometimes it seems that this tendency to remain silent rather than express a difference exists both in individual relationships

“Where all think alike, no one thinks very much.” - Walter Lippmann


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AGI INDUSTRY NEWS

and in groups, where we fear a loss of status or even expulsion if we differ from the rest. For some persons, their educational training and socialization process encourage them to come out of their shell and contribute to society and working relationships.

What happens? They are labelled as 'too known’ and suffer for that. Interestingly, time tells and these same persons, previously misunderstood, are re-called or asked to revisit the issue.

The ‘Yate Abre' syndromeLet us look at a case. Management personnel of a newly restructured company invited all staff to a durbar. A young freshly recruited member of staff of an organisation, Alex, was wondering why many old staff members were not interested and did not exhibit any enthusiasm. The answer from one of them, a middle management person, was “yate abre’, meaning “we hear the same thing all the time. There is nothing new”. How did Alex feel? Despite the disappointment, Alex did not lose steam. He attended the staff durbar, which became one of his memorable moments of association with other team members in his company. He, however, observed that quite a significant number of the old staff members did not show enthusiasm and did not offer any support during the brainstorming sessions. Even those whom he had observed as very critical of issues remained quiet throughout the session and distanced themselves from the resolutions made…. The culture of silence.

The Dangerous LevelsThe culture of silence can reach dangerous levels when employees go to the extent of “shutting their eyes to the obvious”. Let us look at some situations which can culminate into negligence, deliberate misdeeds, and fraud:

Putting square pegs in round holes just to give favourites a chance...we too go “chop post” small.

Implementing policies which are not clear and realistic….

Implementing????? some procedures and services without the relevant risk management…we know already

Not escalating risky issues to the authorized personnel and “keeping it within”, to avoid being labelled a non-performer….I can’t report.????????? It is too embarrassing.

Some management personnel do not getting involved in the implementation of strategies of the organization, and so expect a failure in their implementation…… what goes round comes around.

Some staff members do not offer assistance, and secretly wait for the failure of the policies put in place…… What a pity!

Some people think being convinced that keeping quiet is the best way to preserve relationships and get work done is thr best thing to do…..I don’t want problems, one may see.

The pressure for unanimity and achievement of a level of “consensus”, creating an impression that all is well in the company…..makes others suffer in silence and stressed up.

There is also the pressure to keep silent that is created by differences in ranks

The costs of Suffering in Silence

Personal costs

include

shutting down creativity;

bottled up anger; and sometimes resentment.

Stress come with its attendant medical conditions like ulcer, hypertension and diabetes, and

reduced personal performance or productivity.

Organizational costs

Decreased productivity; loss of confidence in the systems; and

a ‘masked’ sense of consensus in discussions come up for discussion here.

High turnover of staff cannot be left out.When we silence ourselves and others—even when we’re convinced that it is the best way, the right way, or the only way to preserve the relationships we care about and get on with our work—we may be fooling ourselves. Many subordinates extend their negative feelings by complaining to peers about issues and an impression is created in the office that the boss never listens. Where there are workers’ unions, these can become ugly and sometimes end up in the media, creating reputational damage to the organization. In the case of banks, customers start panic withdrawals when they lose confidence in the bank.

Sometimes silence does not resolve the outstanding issues. It rather pushes emotions under the surface and people pretend that all is well, leaving negative emotions such as anxiety, insecurities, anger and resentment. For how long can this last?

Each time workers remain silent in the face of conflict, they keep new ideas to themselves and leave alternative courses of action unexplored. They also withhold important and valuable information from others.


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Combining assertiveness with professionalismI am not an advocate for anarchy, neither am I for perpetually saying “Yes, sir boss” to everything in the system. I would rather advocate the following tactics for both management and staff of organizations to reduce the dangerous consequences of the culture of silence:

Put your recommendations in a constructive manner, still showing respect to the boss;

Sometimes the boss can be approached privately, to avoid any embarrassment in front of other subordinates. For all you know, the boss feels intimidated when there is a disagreement at a meeting, although he or she may respect your opinion privately. You know the power of the ego…ha..ha..

Ensuring that you do not argue or disagree just for the sake of it, but rather use well researched and discussed points to back up your arguments;

Managers with a lot of authority need to be especially careful not to punish people, explicitly or implicitly, for speaking out, particularly on issues that may be difficult for the organization to deal with.

Managers are human and admitting an error in a nice way shows professionalism.

We need to be willing to take the first step ourselves—to bring differences out into the open so that they can be explored and join in a process of mutual exploration of the differences that separate persons.

Way ForwardBosses need subordinates to perform and survive to meet targets of shareholders. The performance of bosses depends on how well subordinates are doing, and knowing that should empower subordinates to speak up and help the bosses appreciate their point of view.

Subordinates do not have to act deviantly to make themselves heard. A person who is assertive should not be described as dysfunctional.

I believe that breaking the culture of silence is, at heart, a creative act—a way of searching out and inventing new approaches to doing things. It can also point to areas where organizations need to change that can result in fruitful alternatives.

Sometimes reaching out to others can give us the strength to break the hold of silence. Not only is it easier to speak up when we know we’re not alone, but also a coalition carries more legitimacy and resources.

My Final wordsWe’ve recently seen in some public organizations just how catastrophic situations can become when silence prevails. See what is happening in our country. People wait until bad decisions are made about huge procurement of expensive and unusable products which end up draining some public institutions. When the contracts were being signed, where were you? Were you waiting for the scandal to erupt and say that you were not part of it? If you are part of management, or a committee member, are you not in a position to quietly approach the boss to re-think the decision? Let us move away from the culture of silence and make our workplaces a preferred destination.

Breaking the silence can bring an outpouring of fresh ideas from all levels of an organization— ideas that might just raise the organization’s performance to a whole new level. Thanks for the opportunity.

ABOUT THE AUTHORAlberta Quarcoopome is a Fellow of the Chartered Institute of Bankers, and CEO of ALKAN Business Consult Ltd. She has authored two books: “The 21st Century Bank Teller - A Strategic Partner” and “My Front Desk Experience – A Young banker’s Story” She uses her experience and practical case studies, training young bankers in operational risk management, sales, customer service, banking operations and fraud.

CONTACTWebsite: www.alkanbiz.com

Email: [email protected] or [email protected]

Tel: +233-0244333051/+233-0244611343


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AGI INDUSTRY NEWS

How to Properly Use

In our increasingly connected society, building a social media presence is as commonplace as getting a driver’s license. Personal Facebook profiles, LinkedIn accounts, and Twitter handles are common among students and professionals alike. However, frequently updating your Pinterest boards does not necessarily equip you with the tools and experience that you need when crafting a social media strategy for your budding business.

Whether you are operating a brick-and-mortar company, or a more tech-heavy startup such as my business, thoughtfully employing social media can help you increase your visibility, profits, and number of customers. One key is carefully linking your social media activity to your business strategy. How can you do so? Here are three pieces of advice:

1. Choose the right platforms and practices

It might be tempting to follow the social media trends that are considered “hot” in popular culture and jump on whatever platform is being talked about the most. Maximizing your social media use means choosing those platforms and practices that suit your core business strategy. For instance, it may or may not make sense for your company to update its Twitter account every hour; what works for another company may not have the same effects for yours.

One strategy could be to first determine which platforms your customers and leads use, and then build your social media presence with those outlets in mind so as to achieve predetermined and measurable business objectives. Even if revenue impact is hard to measure, you should have specific key performance indicators in place that will help

you evaluate the extent to which you are doing a good job and generating meaningful value for your company.

In many cases, the objective of a social media strategy is to increase the reach and visibility of your company. Therefore, it would make sense to consider fostering a social media presence on most – if not all – of the major platforms to maximize those reach results. For instance, Facebook may be the largest social media platform, but Pinterest, Tumblr, and Instagram have the highest growth rates. Which outlets are likely to benefit your business most, both in terms of the users you’ll reach and how you do business? Twitter users, for example, often expect near-immediate responses when they mention a company. If you do not have the resources to answer quickly, Twitter (and other similar platforms) may not be ideal for your company’s social media strategy.

2. Set goals for your social media use

The location, purpose, and size of your business will naturally affect your social media goals. However, many companies use social platforms to:

• Increasereferraltraffictotheirwebsite

• Driveleadgenerationore-commercepurchases

• Increasecompanycredibility

• Demonstrateacorporateidentityandculturethatmakes people more likely to want to work with as consumers or employees

• Increasethequantityoffeedbackthattheyreceivefrom customers and leads.

By Chuck Cohn , Contributor

Opinions expressed by Forbes Contributors are their own.

Social Mediato Fit Your Business Strategy


AGI INDUSTRY NEWS

• Offer an additional avenue for customer serviceinteractions. Your clients may find it more convenient to compose a Tweet or write a Facebook post than to call or email you. It may even help them like you more. One survey found that 43% of customers are likely to recommend a product or service to others when that brand responds in a timely manner on social media outlets.

• Media outlets may even consider your onlinepresence when deciding whether to feature your company in a piece. The stories that you portray of an exciting company through social media may help you connect with reporters and writers who are looking for interesting businesses to profile.

Whenever possible, track how your social media use influences your lead flow and customer conversion rate. Ultimately, good use of these platforms should be impacting your revenue and profit figures.

3. Take a systemized approach to content

Once you decide which social media outlets best fit your business strategy, you should develop a comprehensive plan for the content you will be posting. A systemized approach is key when developing your content plan, as this will allow you to maintain organization and consistency when sharing across your various social channels. Try to determine how frequently you will post, how you will quantify the results of your postings, and how you will attain maximum reach with your strategy.

To start, for instance, you should look into social media management tools, such as Hootsuite. These resources can be incredibly helpful for social media managers of any company, as they allow you to plan posts in advance and select only the specific channels through which you would like a particular message to be shared. This helps to keep your content plan less erratic and ultimately should assist

you in engaging your target audience at the times of highest potential reach across all cohesive channels.

It is also highly recommended to create and maintain an ongoing editorial calendar for your content. Ideally, you should be able to look at the month or week ahead (depending on your business and particular social strategy) and have a clear view of when certain pieces of content will be published, as well as when you will share them on social media. Taking it day by day is not always wise, even if you are planning your posts one day in advance. That may help you for the short-term, but establishing and following an editorial calendar that stretches over a longer period of time can subsequently help your social strategy for the long-term.

Moreover, it is important to remember that you should present engaging content on social media. If you are only posting messages such as, “Check out our latest deals,” people will quickly tune out. Try to curate posts that are applicable to your product or service and that are interesting. The best content also encourages people to interact with your brand again. Take a company that sells shoes – it could post a behind-the-scenes glimpse into the design process for its latest model. Even content from other sources can work as long as it is relevant to your business strategy.

Whether your business relies on Facebook, Snapchat, Twitter, or some combination of these or other outlets, the four words above – relevant to your business strategy – are key to a successful social campaign. By choosing the correct platforms and practices, identifying key goals, and planning your approach to content, you can ensure your use of social media supports your core business strategy.

Chuck Cohn is the CEO and founder of Varsity Tutors, a technology platform for private academic tutoring and test prep designed to help students at all levels of education achieve academic excellence

THANKS TO OUR RESPONDENTS FOR THEIR KIND COOPERATION

http://www.agighana.org; +233 302- 779023 / 4

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