Category: Business

The Ghana Airports Company Limited (GACL) has received the Business Leader of the Year (Customer Service) award at the Ghana Business League Awards 2024 held in Accra.

The award, per the organizers, is a testament of the relentless efforts and remarkable contributions made by the customer service team and led by management showcasing committment to maintaining a consistent brand identity, goodwill and elevating standards within the avistion industry.

A statement issued in Accra by the Company said it would be recalled that Kotoka International Airport emerged ‘Winner’ of the Airport Service Quality (ASQ) for Best Airport by Size and Region in Africa on three consecutive ocassions; 2019, 2020 and 2021.

It said the awards were in recognition of GACL’s commitment to prioritising customer experience to make the passenger journey a pleasant one.

The ASQ awards represent the highest possible recognition for Airport Operators around the world and recognizes excellence in customer service.

The statement said GAC
L remained committed to maintaining its high standards in customer care towards its passengers as they accept the award.

The Ghana Airports Company Limited (GACL) has received the Business Leader of the Year (Customer Service) award at the Ghana Business League Awards 2024 held in Accra.

The award, per the organizers, is a testament of the relentless efforts and remarkable contributions made by the customer service team and led by management showcasing committment to maintaining a consistent brand identity, goodwill and elevating standards within the avistion industry.

A statement issued in Accra by the Company said it would be recalled that Kotoka International Airport emerged ‘Winner’ of the Airport Service Quality (ASQ) for Best Airport by Size and Region in Africa on three consecutive ocassions; 2019, 2020 and 2021.

It said the awards were in recognition of GACL’s commitment to prioritising customer experience to make the passenger journey a pleasant one.

The ASQ awards represent the highest possible
recognition for Airport Operators around the world and recognizes excellence in customer service.

The statement said GACL remained committed to maintaining its high standards in customer care towards its passengers as they accept the award.

Source: Ghana News Agency

Opportunity International Savings and Loans Ltd. (OISL), a leading provider of financial services in the country, has held financial literacy forums for its SME and microloan clients.

The forums formed part of activities to mark the 20th anniversary celebrations of the financial company.

Mr. Kwame Owusu-Boateng, the Chief Executive Officer (CEO) of the Institution, said the forums were to facilitate an open dialogue to share insights and gather feedback from the clients to improve services and products for customers.

The CEO said the forums were also to shed more light on OISL’s digital platforms and how clients could use them to access services in a more efficient way.

He expressed gratitude to the clients for their valuable feedback and assured them of OISL’s continual commitment to the provision of excellent services.

Dr. Francis Takyi, the Chief Risk Officer of the Company, spoke about OISL’s SME Collateral Requirements, detailing the various types of collaterals needed for the various categories of
loans.

He elaborated on the ‘Five Cs’ of credit (character, capital, capability, condition, and collateral) considered during loan assessments.

Mr. Francis Owusu Ansah, the Chief Business Officer of OISL, guided the SME and microloan clients through the basic loan requirements, application processes, turnaround time, and post-disbursement protocols.

Some clients shared their success stories and congratulated OISL on its 20th anniversary.

They also commended OISL for its support during the COVID-19 pandemic.

The engagements took place on the 2nd and 5th of April in Accra and Kumasi, respectively.

Source: Ghana News Agency

Addis Ababa: The United Nations and the African Union have called for stronger partnership and collaboration to address challenges facing Africa in achieving the Sustainable Development Goals (SDGs).

The 10th Africa Regional Forum on Sustainable Development opened in Addis Ababa today.

Speaking on the occasion, UN Deputy Secretary-General Amina Mohammed said Africa has been facing multiple crises, including debt increase by 183 percent, that is roughly four times higher than the region’s growth rate in (U.S.) dollar terms since 2010.

According to her, the total debt service accounted for a staggering 47.5 percent of government revenue in Sub-Saharan Africa last year.

The UN Deputy Secretary-General noted that ‘the gap is enormous. An additional 4 trillion USD must be invested every year to 2030 to have a chance of achieving the SDGs globally.’

This forum came ahead of a crucial international conference in September, presenting an opportunity for African leaders to advocate for a more equitable global fin
ancial system and secure increased investments and debt relief, it was learned.

Recall that UN Secretary-General António Guterres called for an SDG stimulus of at least 500 billion USD a year to scale up affordable long term financing for developing countries.

Amina insists that Africa’s leadership and collective voice will be essential to make the stimulus a reality.

African Union Commission (AUC) Deputy Chairperson, Monique Nsanzabaganwa, on her part reiterated Africa’s unwavering commitment to Agenda 2063.

She recalled that the AUC adopted the second ten-year implementation plan in February, acknowledging both the successes of the first decade and the need to address emerging challenges and opportunities.

The second plan seeks to address the emerging challenges and tap the emerging opportunities to accelerate the implementation of the Agenda.

According to her, domestic resource mobilization and stronger partnerships are key to achieving the development goals.

However, she stated that many African go
vernments have been facing self-inflicted and external challenges, and these challenges require stronger UN-AU partnership.

‘We need to go back to doing the basics of correcting all these gaps and inefficiencies, which is where our collaboration between the African Union and the United Nations is key, so that we bring back that conscious and that spirit of collaboration in our several multilateralism forum.’

Representing President Sahlework Zewdie, the Planning and Development Minister Fitsum Assefa called for prioritizing poverty eradication and the needs of the most vulnerable groups.

Eradicating poverty requires a holistic approach with substantial investments in peace building, education, healthcare, infrastructure, and sustainable livelihoods.

‘The enormous challenges we are facing today demand our resolute commitment to eradicating poverty and ensuring the delivery of sustainable, resilient and innovative solutions. (And) in doing so, we must prioritize the needs of the most vulnerable groups.’

The
forum that will be held until Thursday is aimed to serve as a platform for stakeholders to discuss solutions to accelerate progress towards the SDGs and Agenda 2063.

The United Nations Economic Commission for Africa (UNECA), in collaboration with the African Union Commission, organized the three-day forum.

Source: Ethiopian News Agency

Addis Ababa: Addis Ababa will host the first African Cities Sustainability Forum in the upcoming September 2024.

The forum will be held under the theme ‘Sustainable Urbanization Planning for Africa’s Transformation – Agenda 2063,’ it was indicated.

As part of Ethiopia’s preparation to host the forum, Deputy Prime Minister Temesgen Tiruneh held an awareness raising forum today with the African Urban Forum National Coordinating Committee.

Addis Ababa is gearing up to host the African Cities Sustainability Forum anticipated to bring about more than 1,500 participants, the deputy PM shared on a social media page.

Temesgen also stated in his message that Ethiopia, as a historic country and a founding member of the United Nations and the Organization of African Unity, is prepared to fulfill its African responsibility by organizing this forum of African brothers.

Source: Ethiopian News Agency

Addis Ababa: The decision passed by the government to allow foreign investors to take part in economic sectors that were previously restricted only for Ethiopian citizens will have a multi-faceted positive impact on the economic development of the country, economists remarked.

The Ethiopian Investment Board has recently passed a directive that would allow foreign investors to participate in wholesale and retail trade in the country.

The economists who talked to ENA noted that the directive will reportedly provide more opportunity for legally viable competitive trade and would play a clear role in providing broader choices for consumers.

A senior economist, Constantinos Berhe remarked that allowing foreign investors to take part in wholesale and retail sale trade has greater value for economic development of the country.

Citing the experiences of several countries across the world, the economist added that foreign investors in the sector will bring in their work experience, capital expenditures which will
allow them to play a clear and positive role in the country’s economic development.

Companies who take part in foreign trade in Ethiopia will help to further expand foreign trade coverage and market network for the country and will enhance the nation’s capacity to compete in world trade.

Moreover, the directive is instrumental in increasing the quantity, quality and type of commodities that will be delivered at the international markets, Constantinos further added.

In addition, the directive will help to curb illicit foreign trade in live animals and will help to establish a standard framework to streamline foreign trade in the sector, he indicated.

Constantinos quoted a report from Global Financial Integrity which said the nation loses more than 1.5 billion USD due to illegal foreign trade transactions.

Allowing foreign companies to participate in wholesale and retail trade in the country will discourage illegal trade transactions and will pave the way for those illegal traders to join the formal and le
gal trade transactions, the senior economist further remarked.

He said those merchants who hoard commodities badly needed in the market and also those who demand higher prices for their goods as well as those who disrupt the normal market activity have been multiplying the grievances from consumers.

According to him, the participation of foreign investors in whole sale and retail trade will help to ensure stabilization of market prices and would play a positive role in promoting legal trade transactions across the country.

He added that the directive will help local merchants to be more competitive and thereby provide better choices for consumers.

Constantinos recommended that the government would need to carefully scrutinize the operational history of the investors, their current mode of operation and the values they would add to the national economy before issuing licenses for their formal operations.

Measures taken in introducing new financial policy which will provide for the formation of capital mar
ket and allowing foreign banks to operate in Ethiopia will help to expand the provision of financial resources for economic development.

Researcher of economics and instructor at Arsi University, Adem Fato said that inviting foreign investors to take part in whole and retail sale which was restricted only for Ethiopian nationals will have a multi-faceted positive impact on the economic development of the country.

He stated the decision made by the government will help to beef up foreign currency by promoting domestic and foreign trade which will in turn increase government revenue. Allowing the investors to take part in whole and retail trade will help to improve the quality of the commodities on market and would provide better choices for consumers.

Adem said that this would provide an ample opportunity for local traders to work in unison to engage in a meaningful competition in the market

The instructor further added that necessary guidelines that will promote competitiveness, the national economy and p
romotion of public benefits must be put in place as soon as the directives become operational.

The economists noted that economic measures taken by the government over the last 6 years in opening up the economy to the private sector have helped to promote sustainable economic development and competitiveness among the traders.

Source: Ethiopian News Agency

Addis Ababa: A two-day conference aimed at leveraging digitalization to improve tax compliance and revenue mobilization has concluded in Addis Ababa today.

The international conference organized by Ministry of Revenues, in collaboration with the World Bank, has attracted many experts and stakeholders from emerging countries.

Briefing the media, Revenues Minister Aynalem Nigussie underscored the significance of digitalization in improving revenue collection by enhancing efficiency and minimizing cost.

Collecting revenue through digitalization also enables the tax administration to be fairer and transparent as compared with the manual system.

According to her, the Ministry of Revenues has been developing software to digitalize more the revenue collecting system.

At present, several platforms that enable tax payers to pay online have been established and those are contributing to enhancing the efficiency of collecting revenue.

World Bank Lead Governance Specialist in Ethiopia, Rajul Awasthi told ENA that t
he purpose of the conference is to improve the efficiency and effectiveness of tax administrations by implementing digitalization.

Noting that there haven challenges in Africa for many decades in the sector, he added that the World Bank is now helping countries to address the challenges through financing and technical assistance.

For him, digitalization is the best way to move forward in improving efficiency and effectiveness of tax administration and the World Bank is committed providing continuous assistance to realize digitalization.

According to Awasthi, the conference has created a platform for peer-to-peer learning between countries in the field.

Delegates mainly from African countries, including Nigeria, Zambia, Ethiopia, Kenya, Rwanda, Uganda, Tanzania, Malawi, Zimbabwe, South Sudan, and Somalia, as well as experts from other countries have participated in the conference, it was learned.

The World Bank lead governance specialist, who stated that the Bank has been involved in helping countries to
improve their tax systems, improve domestic revenue mobilization through financial and technical assistance, said the World Bank is working closely with ministries of Revenues and Finance to improve the capacity in the sector.

Source: Ethiopian News Agency

Addis Ababa: Ethiopia has been intensifying diplomacy to connect the nation’s economy with the global market, according to Ministry of Foreign Affairs.

In an exclusive interview with ENA, Foreign Affairs State Minister Mesganu Arga said that Ethiopia has embarked on rigorous economic reforms aimed at opening up and connecting it with the global economy.

‘As part of the Homegrown Economic Reform Program, Ethiopia is now liberalizing and connecting our economy with the global economy.’

The Ethiopian Investment Board has recently issued a new directive outlining that foreign investors can engage in specific trade investments and in the previously reserved businesses including export, import, wholesale and retail trade investments.

According to the state minister, these economic reforms and initiatives have a paramount importance to opening up the economy and linking it with regional markets such as the African Continental Free Trade Area (AfCFTA.)

He added that Ethiopia is also gearing up to be part of the
World Trade Organization (WTO). The process being expedited is imperative to Ethiopia in order to access global trade opportunities.

The Ethiopian government has been currently implementing a new economic reform blueprint, dubbed Homegrown Economic Reform, with a major aspiration to unlock the country’s development potentials.

Following the reform program, Mesganu noted that promoting economic opportunities and investment potential has become at the heart of Ethiopia’s diplomacy.

‘We have realized that investment promotion and confidence building for global economic activities are pretty much imperative to our diplomacy. In this regard, attracting foreign direct investment and connecting our economy with the global market are important steps carried out.’

To realize these economic endeavors, trade and investment promotion activities have been conducted by foreign missions, consulates and diplomats, it was learned.

Looking for additional markets globally, attracting more investments, as well as promoting
domestic tourism potentials are at the epicenter of the economic diplomacy.

The state minster pointed out that Ethiopia’s foreign policy is anchored on strengthening partnership with neighboring countries, and the policy essentially prioritizes economic integration to achieve joint regional development.

Further elaborating on the country’s economy, Mesganu said that it has shown significant resilience amidst global challenges.

‘Our GDP has redoubled and our economy has registered a fast growing record. Thus, this has been encouraging us to reinforce the economic foreign policy missions in the region and beyond. We are really working hard as a country to bring about development and achieve growth internally and also sharing achievement to the neighboring countries.’

Moreover, he reaffirmed the commitment of Ethiopia to connecting with its neighboring nations in terms of infrastructure as well as sharing its development ambition and integration agenda through road and railway.

For the state minister, those
agendas are quite important and they are the main focus for our foreign policy since the economic dividend is for mutual benefits.

For the economic ambition of the country to come to fruition, Mesganu underlined that Ethiopia always seeks jointly and collaboratively working with the global community and with the neighboring countries.

In this respect, he explained that Ethiopia is committed to the securitization, joint development, and economic integration of the region.

‘So our agenda is peace, economic development, integration, trade promotion and large infrastructure connectivity between the neighboring countries,’ the state minister stressed.

Furthermore, Mesganu called on the neighboring countries to genuinely understand Ethiopia’s quest for access to sea.

‘Our right to have seaport access is based on rational ground,’ he noted, adding that there will also be opportunities for neighboring countries in the expanding economic activity and the large economy of Ethiopia.

Source: Ethiopian News Agency

Addis Ababa: The attention given to startups will create opportunity to put innovations into practice, startupers told ENA.

Recall that Ethiopia has recently set its eyes on becoming a beacon of opportunity in the global startup landscape.

Startuppers who talked to the Ethiopian News Agency stated that the attention given to the sector will create opportunity to put innovations into practice.

Among the startuppers, Fitsum Sileshi the backend developer for ‘Adot, explained that the focus on startups is instrumental in securing financial support to initiate work by facilitating the introduction of creative projects.

This attention will enable startups to fulfill their role in supporting efforts to create job opportunities for citizens and contribute to economic growth.

According to her, Adot company aims to support mothers throughout their pregnancy journey and beyond by providing content, informative support, and access to doctors.

Fitsum emphasized the pressing issue of preventable or manageable disease
s leading to maternal mortality, stating that their mobile application seeks to address this by providing vital information to mothers in need.

The platform is a very cultural sensitive and also locally relatable product, according to the startupper, who added that this means mothers can understand what ‘we are giving them as article and also as content.’

‘We are targeting mothers who speak Amharic and also have access to smartphones. But soon we will be able to have more access to mothers speaking other languages and living in rural areas.’

The other startupper, Bereket Addis, has developed a technology called ‘Asbeza’ that includes e-commerce and logistics to easily provide an online grocery delivery service.

He highlighted the favorable conditions for startup growth in the country, adding that the government’s focus on startups, through the formulation of supportive policies and provision of other assistance, is fostering favorable conditions.

By fostering entrepreneurial environment and supporting st
artups, countries like Ethiopia can unlock a potent engine for sustainable development and prosperity, he noted.

According to Negede Yisak, an expert at Ministry of Innovation and Technology, the emerging trend of startups has been capitalizing on the favorable environment fostered in the country.

A recent announcement of a business plan competition attracted approximately 300 startups, with 20 of them advancing to the final round.

From this, 10 startups will be selected to receive support, including access to an incubation center, tailored training, and mentorship within their respective fields.

Source: Ethiopian News Agency

Addis Ababa: Executive Director of the Nile Basin Initiative (NBI) Secretariat, Florence Grace Adongo emphasized the need for stronger cooperation among the riparian states to ensure equitable utilization and sustainable management of the Nile water resources.

A national stakeholders meeting of the Nile Basin Initiative held in Addis Ababa today which aimed at raising visibility and awareness on the initiative and facilitating the tools for the implementation of its programs and projects.

Addressing the meeting, the executive director recalled that the NBI covers 10 percent of the African continent and is home to almost a quarter of the continents population.

The Nile Basin countries face key development challenges which are related to water security, energy security, food security and vulnerability to the environmental shocks that are rising from the negative impacts of climate change.

Stressing that no county can manage these challenges unilaterally, Adongo therefore, underlined that countries across th
e Nile Basin should come together to find a common solution for such common problems.

This move would have a paramount importance for equitable use of the Nile Basin’s shared water resources, according to her.

The executive director further stated that strengthening cooperation is essential to ensure equitable utilization, and sustainable management of the Nile River water resources.

Over 25 years, NBI served as the platform for dialogue, a catalyst for change, fostering regional integration, enhancing competitiveness and unlocking the Nile Basin’s immense potential for Africa and beyond, she pointed out.

Citing that Ethiopia has been at the forefront in supporting matters of cooperation, Adongo said we look forward for more cooperation and working together.

Recall Ethiopia is also one of the first countries that have endorsed the Cooperative Framework Agreement (CFA). She urged the remaining countries to ratify the agreement to transform the Nile Basin Initiative into a Nile Basin Commission.

Addressin
g the occasion, State Minister of Water and Energy Abraha Adugna also affirmed that the NBI has made significant achievements so far despite various challenges in the region.

NBI promoted basin-wide dialogue and stakeholder involvement on confidence building, providing strategic, technical and analytical framework, introducing best practice tools, and methodologies among others.

The state Minister reaffirmed the solid determination of the Ethiopian government to achieve NBI’s ambitions as Nile River is a transboundary water resource which crosses 11 riparian countries.

Nile Basin Initiative is a regional intergovernmental partnership launched by the Nile Basin countries on 22nd February, 1999 to manage and develop the shared Nile Basin water resources in a cooperative manner, share substantial socio-economic benefits and promote regional peace and security.

Source: Ethiopian News Agency

Kayoyi Limited, a leading e-commerce company, has begun operations in the country with the goal to fulfill the long awaited desire of the ordinary Ghanaian consumers looking for quality products at their doorsteps.

All products listed on Kayoyi Ghana’s page are of top-notch quality with trusted brands and supplies to maximise customer satisfaction and build brand loyalty.

It is the only platform that has all Muslim products such as quality Abaya, Jalabs, Tasbaha, Islamic books amongst others.

Mr Senna Bortsi, Chief Executive Officer, Kayoyi Ghana, who briefed the Ghana News Agency about the operations of the company in the country, said, ‘The company, as an effective standards unit, ensures that all products listed on its page for sale are verified from trusted sources and manufacturers.’

Mr Bortsi said the company had the best rapid delivery system deployed across the country adding, ‘The delivery unit ensures customers get their products within a 24-hour mark period. It is revealing that this is one of
the hallmarks of Kayoyi everywhere it operates, and the company is making efforts to improve this even further.’

He said the company had several promotional campaigns all-year-round adding, ‘The current Eid Promo, which seeks to give customers the opportunity to buy any product on our webpage at a reduced price, is nothing but the brightest campaign so far in the e-commerce sector in Ghana.’

He said: ‘With its added advantage of comfort and convenience, bespoke orders, flexible payment plan, on time delivery and many more is nothing less than mouth-watering packages for the Ghanaian consumer. These and many more campaigns will follow in the coming years.’

He touched on the company’s infrastructure, saying it had deployed an advanced state-of-the-art infrastructure to ensure access, convenience, responsive, user-friendly interface, and safe e-commerce transactions in the country.

Mr Bortsi spoke about corporate social responsibility and indicated, ‘The company empowers its customers, suppliers, staff, and
the public in ways that have an overall impact on the operational environment. Regular educational programmes will be organised for customers on best customer service, fashion trends and wardrobe malfunction remedies.’

Kayoyi Ghana has an exceptional customer relations culture with its well-trained customer centric staff, after sales inquiry and above all continuous communication pattern to assist the customers satisfy their desires in products purchase and enquiry,’ he said.

Source: Ghana News Agency

Addis Ababa: Ethiopia has reiterated commitment to BRICS vision and to discharge its responsibilities for promoting meaningful and productive partnership for inclusive and sustainable development.

State Minister of Foreign Affairs, Mesganu Arga is participating in the 2nd BRICS Sherpas/ Sous -Sherpas meeting on partner country model in Moscow.

Mesganu posted on X: ‘I reiterated Ethiopia’s commitment to BRICS vision and discharge our responsibilities to promote meaningful and productive partnership for inclusive and sustainable development.’

Source: Ethiopian News Agency

Addis Ababa: Bolstering collaboration among development partners and NGOs on water and energy accessibility is significant to prevent duplication of efforts in the sector, Minister of Water and Energy, Engineer Habtamu Itefa said.

A joint working group secretariat for the water and energy sector convened discussion today to assess the progress made and explore avenues for future cooperation.

Speaking at the occasion, Engineer Habtamu stated that we are here to share our experiences and discuss on how to enhance future actions strategically.

Over the past three years, we have achieved significant milestones in water supply, water resource management, and energy accessibility, he noted.

For this, the minister expressed gratitude to development partners for their support in this regard, acknowledging the efforts made towards modernization, ensuring water sustainability, and automation for effective planning.

According to him, the government is committed to further enhancing its collaboration with developmen
t partners and NGOs to ensure drinking water and energy needs of the citizens.

“I believe it’s time for strategic collaboration to prevent resource duplication and streamline activities. Today, our focus is to reflect on our collective experiences, assess progress, and chart a path forward,” he stated.

Achieving such goals requires a strategic approach and collaborative planning, he said, adding that ideally, regular evaluations on a quarterly or even more frequent basis, will allow us to identify both our shortcomings and our areas of efficiency.

Unless we strive to optimize our resources for specific purposes that address our needs, our efforts may yield minimal results or fail to meet our demands entirely, he said.

Water Aid Country Director, Yaekob Metena, emphasized the necessity of collaborative efforts between the government and development partners to improve Ethiopia’s utilization of resources in the water and energy sector.

He highlighted the importance of ongoing consultations among developmen
t partners engaged in the sector, enabling institutions to share experiences and foster a culture of information exchange.

Additionally, he noted that partner organizations will collaborate closely with the ministry to achieve the sector’s development objectives.

Country Director for IRC WASH, Lemessa Mekonta on his part stressed the importance of ensuring accessibility of clean water and energy to citizens through fostering collaboration among partner organizations.

Substantial resources are needed to translate efforts in the water and energy sector into tangible outcomes, he said, adding, to this effect, concerted efforts from the government or development partners are also sought.

Source: Ethiopian News Agency