Category: Production

Mr Adams Sulley, the Chairman of the Sissala Rural Bank, has announced that discussions were in place to have a regional bank from the four community and rural banks in the Upper West Region to improve banking services.

Mr Adam Sulley said this during the 12th annual general meeting (AGM) of shareholders of the Sissala Rural Bank at Tumu on the theme: ‘Two Decades of Banking Excellence and Community Impact’.

Mr Sulley said, ‘At the Upp er West chapter level, the four Rural and Community banks in the region are in talks exploring the possibility of a regional bank, possibly merging Sonzele, Nandom, Lawra and Sissala rural bank towards having a regional bank’.

This he said would be achieved through engagement with the stakeholders with this proposed model to have a regional bank.

‘Since benefits of such initiative will be the collective interest to achieve business consultation, integration, resilience, and other values for shareholders of the banks. It is interesting to know that Sonzele, Nandom have been
around for the past four decades, Sissala Rural and Lawra have been around for only 20 years and will therefore stand to benefit from the optimum financial leverage of the older banks,’ he emphasized.

He said the board undertook institutional reforms and set up a strategic plan from 2024 to 2027 and promised that with these plans, the board confidently anticipated that the shareholders of the banks would be paid dividends in 2026.

He reported that since October 2022, the directors decided to freeze the remuneration of the directors, which was being ploughed back into the bank operations.

On performance, Mr Sulley said the bank was showing recovery indicators, which should boost the confidence of investors and shareholders looking at the year-after-year loss performance from 2020, 2021, 2022 and 2023, which stood at GHS662,070.00, GHS724, 074.00, GHS790,155.00 and GHS426,637.00, which showed a significant drop.

‘Meanwhile, in 2023, income increased by 139 per cent whilst expenses were controlled to about 1
7 per cent, with a loss reduction of 46 per cent compared to 2022 with increased in the stated capital to about, 0.01 per cent.

The bank’s performance saw marginal growth as the banking sector overall did not do well and this was a thumbs up for the bank,’ he said.

He said the management was being guided to develop the appropriate strategies in 2024 to give more salary loans, and microfinance loans with a new mobilization drive expected to pursue cutting-edge technologies with its clients.

The board, he said, therefore charged the management to also recover outstanding loans to clean their books whilst a new Chief Executive Officer of the bank was tasked to provide exceptional service and redefine standards for the operations of the bank.

According to him the bank’s locked up capital of about GHS1.8 million was disturbing and promised shareholders a decision would soon be taken about it.

Giving the risk and compliance report of the bank, Mr Rasheed Issifu Ndei, a member of the board, said in the year und
er review, the bank made a loss of GHS426,000 which is an improvement over the previous year’s losses of GHS700,000.00 and expressed the hope that the new efforts being made would signal positive change.

The bank’s auditors, Riyan Consult, advised the bank to get local directors who could easily be consulted when difficult issues arise.

Mr Alex Kwesi Awuah, the Managing Director of ARB Apex Bank said the Sissala Rural Bank would need to work toward profitability and advised management to adopt new products that would boost the situation of the bank.

Source: Ghana News Agency

Nana Kwadwo Boama, Krontihene of Atibie in the Eastern Region, has called on the government and private sector to step up investments in the Kwahu areas, taking into account the immense tourism potential the area holds.

That, he noted, would help to diversify Kwahu Easter and unlock the untapped treasures of the region to speed up economic growth and improve living conditions.

Nana Boama made the call during the opening ceremony of the 2024 Easter Paragliding Festival on the Odweanoma Mountain in Atibie in the Kwahu South Municipality.

He said Kwahu was a treasure trove of mountains, ancient caves, forests, and water bodies, but the sites were underdeveloped because of the deplorable nature of the roads.

Nana Boama, who the represented Kwahumanhene, urged the government and private sector to collaborate with Nananom to invest in those areas, generate employment opportunities for the young population, and enhance the diversity of ‘Kwahu Easter’.

The Ministry of Tourism, Arts, and Culture and the Ghana Tou
rism Authority jointly opened the ceremony.

The festival, which commenced on March 29, will run through to April 1, in which seven tandem pilots from various countries would be transporting passengers from the Odweanoma mountain to the Nkawkaw stadium.

Mr Mark Okraku Mantey, Deputy Minister of Tourism, Arts, and Culture, explained during a press briefing that the festival started in April 2005 by the former Minister of Tourism, Mr Jake Okanta Obetsebi Lamptey, to align with the Easter celebrations in Kwahu.

The paragliding festival aims to boost local tourism and strengthen national unity.

Mr Kwasi Agyeman, the Chief Executive Officer of the Ghana Tourism Authority (GTA), spoke of an increase in visitors, which had had a positive impact on the local economy and fostered cultural exchange and understanding between guests and community stakeholders.

The GTA has made significant efforts to enhance its relationships with various regional stakeholders, including the Traditional Council, the Municipal and Dist
rict Chief Executives, local businesses, tour operators, hoteliers, and community leaders.

These collaborations aim to foster a more inclusive and sustainable tourism ecosystem that brings benefits to all parties involved.

‘We have worked tirelessly to strengthen our relationships with all stakeholders to create a more inclusive and sustainable tourism ecosystem that benefits everyone involved,’ Mr. Agyeman said.

Source: Ghana News Agency

Dr Daniel MacKorley, the Founder and Chairman of the McDan Group of Companies, Wednesday said putting women at the top management of his companies is not just for equity purposes.

Dr MacKorley said he cherished women and put them in managerial positions because they had more potential for business development.

‘Empowering women to lead in business isn’t just about equality, it’s about unlocking the full potential for the growth of our economy and society,’ he said.

Speaking at the Women Business Dialogue, he said, he had been strong and hardly bowed to failure because of the training and the courage planted in him by his late mother and that courage had lived in him till today.

The economy could not achieve any meaningful growth when women, who constituted over 50.7 per cent of the country’s population, were not empowered in the business world, indicating that no country globally could make it when half of its population was left on the sidelines.

‘Our economy cannot thrive when women are not given a sea
t at the table. I’m sure that in looking at how to promote entrepreneurship and drive exclusive economic growth and jobs, there is no better place to start than with women,’ he added.

He acknowledged females as the next global key drivers of entrepreneurship, adding that there were more women entrepreneurs in Ghana than men.

Dr MacKorley explained that ‘the woman selling ‘Kaklo’ on the street, who has 10 or five children, feeding them together with her husband, is more of an entrepreneur than a banker sitting at a desk.’

He said about 90 per cent of the 1,200 women in Ada paid back an interest-free loan of GHs3 million he gave out, a gesture, which showed how honest they were at their businesses.

In a Harvard Business Review article, it was revealed that women-owned firms in the private sector represented approximately 37 per cent of global enterprises.

He said the percentage was rising, and those firms spanned new fashion houses to visionary high-tech businesses.

To encourage more women to embark on th
e entrepreneurial journey, Ghana must focus on improving their financial literacy skills by empowering them with the knowledge and understanding of financial management, accessing start-up funding, and making informed financial decisions, he said.

Dr MacKorley encouraged women not to shy away from taking on risks in business, such as accessing funding opportunities, as start-up funds played a vital role in fueling work growth, so women should step out of their comfort zones and seize opportunities that may require taking calculated risks.

He called for mentorship and networking programmes for women, both formal and informal, to connect experienced businesswomen with aspiring entrepreneurs, to create a strong support system as guidance and solidarity for navigating the challenges they may face in their businesses.

Dr MacKorley urged banks and financial institutions to create dedicated funds or grant programmes to support women entrepreneurs, as the provision of access to capital could be a game-changer to e
nsure that women had the needed financial resources to start and grow their businesses.

He called on the Government to formulate policies that promoted gender equality in business to benefit society and challenged women to break free from self-limiting beliefs and be confident for success.

Empowering women to be at the forefront of the business world was not only essential for their personal and professional growth but also for the country’s economic development.

Source: Ghana News Agency

Unilever Ghana PLC has appointed Mr. Chris Wulff-Caesar, as its new Managing Director with effect from April 1, 2024.

Mr Wulff-Caesar is an accomplished International Business Executive with 24 years of FMCG experience gained across various countries and is returning to Unilever Ghana PLC, where he began his career as a management trainee in 1999.

A statement issued in Accra by the company said he joined the company from Friesland Campina in Nigeria, where he was Marketing Director for Sub-Saharan Africa, managing brands and marketing activities across 44 countries.

Before this, he worked for ABInBev as Marketing Director for West Africa (Ghana and Nigeria) and was a member of the Board of Directors for Accra Brewery Ltd.

It said he joined ABInBev under the SAB Miller acquisition, where he was leading the establishment and growth of a portfolio of brands.

The statement said during his time at SAB Miller, he worked as Africa Category Expansion / Innovation Manager, based in South Africa, and as Ghana Ma
rketing Director.

Mr. Wulff-Caesar is a fellow of the National Institute of Marketing Nigeria (NIMN) and an Associate member of the Advertising Practitioners Council of Nigeria (APCON).

He holds a BA (Honours) Degree in Economics from the University of Ghana and an MBA from the Edinburgh Business School of the Heriot-Watt University in Scotland, United Kingdom.

Mr. Wulff-Caesar will also join the Unilever Ghana PLC Board as an Executive Director.

It said Mr Wulff-Caesar takes over from Mr George Owusu-Ansah, the current Managing Director of Unilever Ghana PLC, having served as Managing Director of Unilever Ghana PLC for four years.

The statement said Mr Owusu-Ansah, now moving to Ethiopia as Managing Director of Unilever’s Ethiopian business from April 1, 2024.

It said Mr Owusu-Ansah would continue to serve on the Unilever Ghana PLC Board as a Non-Executive Director.

Meanwhile, Mr Joel Boateng, currently the Customer Development Director for Unilever Ghana PLC, has been appointed to join the Board of t
he company as an Executive Director.

Mr Boateng started his career in Customer Marketing and Intelligence at Unilever Ghana PLC in 2008 and held various roles, including three years in Unilever South Africa, before moving to marketing in 2019 as Category Manager for Oral Care and Skin Care.

He joined the Unilever Customer Development team in 2022 as Regional Sales Manager for Accra before being promoted to his current role in July 2023.

He is also an Executive Trustee board member to the Unilever Tier 2 and Savings Schemes. Mr Boateng holds a Bachelor of Arts in Statistics and Philosophy from the University of Ghana.

He has a master’s degree in business administration (EMBA Marketing) from the University of Ghana Business School.

He is also a Full Member of the Chartered Institute of Marketing Ghana.

Source: Ghana News Agency

Unilever Ghana PLC has appointed Mr. Chris Wulff-Caesar, as its new Managing Director with effect from April 1, 2024.

Mr Wulff-Caesar is an accomplished International Business Executive with 24 years of FMCG experience gained across various countries and is returning to Unilever Ghana PLC, where he began his career as a management trainee in 1999.

A statement issued in Accra by the company said he joined the company from Friesland Campina in Nigeria, where he was Marketing Director for Sub-Saharan Africa, managing brands and marketing activities across 44 countries.

Before this, he worked for ABInBev as Marketing Director for West Africa (Ghana and Nigeria) and was a member of the Board of Directors for Accra Brewery Ltd.

It said he joined ABInBev under the SAB Miller acquisition, where he was leading the establishment and growth of a portfolio of brands.

The statement said during his time at SAB Miller, he worked as Africa Category Expansion / Innovation Manager, based in South Africa, and as Ghana Ma
rketing Director.

Mr. Wulff-Caesar is a fellow of the National Institute of Marketing Nigeria (NIMN) and an Associate member of the Advertising Practitioners Council of Nigeria (APCON).

He holds a BA (Honours) Degree in Economics from the University of Ghana and an MBA from the Edinburgh Business School of the Heriot-Watt University in Scotland, United Kingdom.

Mr. Wulff-Caesar will also join the Unilever Ghana PLC Board as an Executive Director.

It said Mr Wulff-Caesar takes over from Mr George Owusu-Ansah, the current Managing Director of Unilever Ghana PLC, having served as Managing Director of Unilever Ghana PLC for four years.

The statement said Mr Owusu-Ansah, now moving to Ethiopia as Managing Director of Unilever’s Ethiopian business from April 1, 2024.

It said Mr Owusu-Ansah would continue to serve on the Unilever Ghana PLC Board as a Non-Executive Director.

Meanwhile, Mr Joel Boateng, currently the Customer Development Director for Unilever Ghana PLC, has been appointed to join the Board of t
he company as an Executive Director.

Mr Boateng started his career in Customer Marketing and Intelligence at Unilever Ghana PLC in 2008 and held various roles, including three years in Unilever South Africa, before moving to marketing in 2019 as Category Manager for Oral Care and Skin Care.

He joined the Unilever Customer Development team in 2022 as Regional Sales Manager for Accra before being promoted to his current role in July 2023.

He is also an Executive Trustee board member to the Unilever Tier 2 and Savings Schemes. Mr Boateng holds a Bachelor of Arts in Statistics and Philosophy from the University of Ghana.

He has a master’s degree in business administration (EMBA Marketing) from the University of Ghana Business School.

He is also a Full Member of the Chartered Institute of Marketing Ghana.

Source: Ghana News Agency

Unilever Ghana PLC has appointed Mr. Chris Wulff-Caesar, as its new Managing Director with effect from April 1, 2024.

Mr Wulff-Caesar is an accomplished International Business Executive with 24 years of FMCG experience gained across various countries and is returning to Unilever Ghana PLC, where he began his career as a management trainee in 1999.

A statement issued in Accra by the company said he joined the company from Friesland Campina in Nigeria, where he was Marketing Director for Sub-Saharan Africa, managing brands and marketing activities across 44 countries.

Before this, he worked for ABInBev as Marketing Director for West Africa (Ghana and Nigeria) and was a member of the Board of Directors for Accra Brewery Ltd.

It said he joined ABInBev under the SAB Miller acquisition, where he was leading the establishment and growth of a portfolio of brands.

The statement said during his time at SAB Miller, he worked as Africa Category Expansion / Innovation Manager, based in South Africa, and as Ghana Ma
rketing Director.

Mr. Wulff-Caesar is a fellow of the National Institute of Marketing Nigeria (NIMN) and an Associate member of the Advertising Practitioners Council of Nigeria (APCON).

He holds a BA (Honours) Degree in Economics from the University of Ghana and an MBA from the Edinburgh Business School of the Heriot-Watt University in Scotland, United Kingdom.

Mr. Wulff-Caesar will also join the Unilever Ghana PLC Board as an Executive Director.

It said Mr Wulff-Caesar takes over from Mr George Owusu-Ansah, the current Managing Director of Unilever Ghana PLC, having served as Managing Director of Unilever Ghana PLC for four years.

The statement said Mr Owusu-Ansah, now moving to Ethiopia as Managing Director of Unilever’s Ethiopian business from April 1, 2024.

It said Mr Owusu-Ansah would continue to serve on the Unilever Ghana PLC Board as a Non-Executive Director.

Meanwhile, Mr Joel Boateng, currently the Customer Development Director for Unilever Ghana PLC, has been appointed to join the Board of t
he company as an Executive Director.

Mr Boateng started his career in Customer Marketing and Intelligence at Unilever Ghana PLC in 2008 and held various roles, including three years in Unilever South Africa, before moving to marketing in 2019 as Category Manager for Oral Care and Skin Care.

He joined the Unilever Customer Development team in 2022 as Regional Sales Manager for Accra before being promoted to his current role in July 2023.

He is also an Executive Trustee board member to the Unilever Tier 2 and Savings Schemes. Mr Boateng holds a Bachelor of Arts in Statistics and Philosophy from the University of Ghana.

He has a master’s degree in business administration (EMBA Marketing) from the University of Ghana Business School.

He is also a Full Member of the Chartered Institute of Marketing Ghana.

Source: Ghana News Agency

Fidelity Bank Ghana has held a financial literacy programme for hundreds of Ghanaian and other African youth at the just-ended 13th Africa Games.

The two-day workshop, covered a number of areas of investment, including stocks, mutual funds, pension funds, fixed deposits, and government securities (T-bills).

The masterclass was delivered on the theme: ‘Smart Savings and Investments’, under the Bank’s sponsored Youth Pavilion initiative.

It was aimed at providing participants with practical savings and investment techniques and help to secure their future through prudent financial decisions.

Speaking at the workshop, Mr Thomas Ishmael Adjei, Acting Director of Retail Segments, Fidelity Bank, encouraged the youth to continue to acquire knowledge and tools needed to achieve financial independence.

He said it was important for the youth to build safety nets through consistent savings and investment habits, by setting specific, measurable, attainable, relevant, and time-bound (SMART) goals in their financial p
lans.

‘Uncertainties are inevitable, but with strategic financial planning, individuals can build a safety net to safeguard their future.

Through prudent saving and smart investments, individuals can achieve their financial goals and attain the financial independence they desire,’ Mr Adjei said.

He also urged the youth to track their progress by leveraging digital platforms and mobile applications to monitor savings and investments effectively.

Doing so, he said, would give them a sense of accomplishment and motivate them keep to their goals.

Mr Adjei also encouraged the youth to understand the various risk profiles in any investment they signed up to, and seek professional financial advice before making investment decisions.

‘Make sure you have enough information before you take that bold step to invest your money. Research could be a simple desktop research. It could be going into a bank, or any of these other investment companies and ask questions,’ he advised.

‘Take a note, write out those response
s, and then take a pause and have time to think about your decision before you go into investing. If you haven’t saved before, or your risk appetite is also less, start small and build up a plan around how to invest.’

Mr Adjei pledged Fidelity Bank’s commitment to joint prosperity, emphasising the Bank’s dedication to making its customers thrive through strategic financial planning and prudent decision-making.

He stated that the Bank sponsoring the Youth Pavilion demonstrated its commitment to empowering young people with the financial literacy tools necessary to navigate the world of finance with confidence.

That, he said, was aligned with Fidelity Bank’s broader mission of promoting financial inclusion and driving sustainable economic growth in Ghana.

Source: Ghana News Agency

Fidelity Bank Ghana has held a financial literacy programme for hundreds of Ghanaian and other African youth at the just-ended 13th Africa Games.

The two-day workshop, covered a number of areas of investment, including stocks, mutual funds, pension funds, fixed deposits, and government securities (T-bills).

The masterclass was delivered on the theme: ‘Smart Savings and Investments’, under the Bank’s sponsored Youth Pavilion initiative.

It was aimed at providing participants with practical savings and investment techniques and help to secure their future through prudent financial decisions.

Speaking at the workshop, Mr Thomas Ishmael Adjei, Acting Director of Retail Segments, Fidelity Bank, encouraged the youth to continue to acquire knowledge and tools needed to achieve financial independence.

He said it was important for the youth to build safety nets through consistent savings and investment habits, by setting specific, measurable, attainable, relevant, and time-bound (SMART) goals in their financial p
lans.

‘Uncertainties are inevitable, but with strategic financial planning, individuals can build a safety net to safeguard their future.

Through prudent saving and smart investments, individuals can achieve their financial goals and attain the financial independence they desire,’ Mr Adjei said.

He also urged the youth to track their progress by leveraging digital platforms and mobile applications to monitor savings and investments effectively.

Doing so, he said, would give them a sense of accomplishment and motivate them keep to their goals.

Mr Adjei also encouraged the youth to understand the various risk profiles in any investment they signed up to, and seek professional financial advice before making investment decisions.

‘Make sure you have enough information before you take that bold step to invest your money. Research could be a simple desktop research. It could be going into a bank, or any of these other investment companies and ask questions,’ he advised.

‘Take a note, write out those response
s, and then take a pause and have time to think about your decision before you go into investing. If you haven’t saved before, or your risk appetite is also less, start small and build up a plan around how to invest.’

Mr Adjei pledged Fidelity Bank’s commitment to joint prosperity, emphasising the Bank’s dedication to making its customers thrive through strategic financial planning and prudent decision-making.

He stated that the Bank sponsoring the Youth Pavilion demonstrated its commitment to empowering young people with the financial literacy tools necessary to navigate the world of finance with confidence.

That, he said, was aligned with Fidelity Bank’s broader mission of promoting financial inclusion and driving sustainable economic growth in Ghana.

Source: Ghana News Agency