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AfDBAM2024: Mobilizing funding to support the African private sector

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Mobilizing funding to support the African private sector

The African Development Bank Group’s Annual Meetings 2024 began in Nairobi, Kenya on Monday, with a panel discussion about how to mobilizing funding to develop the private sector in Africa. Organized jointly by the Bank Group and the Alliance of African Multilateral Financial Institutions (AAMFI), the session ran parallel to the meetings and allowed participants to emphasize the vital role of African multilateral financial institutions, such as the African Development Bank, in resolving funding problems, mainly for the private sector, to accelerate the continent’s transformation. Policymakers, financial institutions, investors, economists and financial experts all contributed.

Benedict Oramah, Chairman of the Board of Directors of Afreximbank and the AAMFI, explained that the AAMFI, as a platform for everyone, was intended to fulfil a mandate for all African countries. The Alliance supports private-sector activities and facilitates trade within Africa in implementing the African Continental Free Trade Area. Countries are committed to collaboration and coordination to facilitate Africa’s financial independence to achieve this, he commented.

“Multilateral African institutions also hope to strengthen their cooperation with the African Development Bank through the Alliance,” he continued.

Albert M. Muchanga, African Union Commission Trade and Industry Commissioner, emphasized that African countries have a duty to ensure that their economies prospered. “But at the same time, we need a favourable continental and global environment. If Africa is to be transformed, we need to make it easier for the private sector to contribute by offering incentives,” he added, to encourage the private sector.

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He highlighted the importance of value chains for African economies: “If we continue to sell raw materials, we will continue to be poor; we need to unlock, capture and exploit value on the continent and create jobs in the process.”

Africa must also invest in education and research institutions, with a capital market that is capable of exploiting Africa’s huge potential through structural investments.

Mr Admassu Tadesse, Trade and Development Bank CEO, hoped that “business will be done differently if we want to achieve a genuine transformation. Synergies and collaboration across the continent allow economies of scale, and the reason that large-scale projects have been able to succeed is the number of partners working together, with success stories attracting more investors,” he added.

Mr James Mwangi, Director of Equity Bank Group, emphasized the role of commercial banks and synergies with the public sector in private sector development, saying “An integrated economy always needs the public and private sectors to work together.”

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The panel also addressed the management of the risks associated with countries’ political environment, with about 20 elections forthcoming on the continent. However, there are also risks associated with investments and the rise in electricity prices.

“We need to reduce risks in the commercial sector by increasing the volume of trade between African countries, which is no more than 16%. With its 1.5 billion inhabitants, Africa offers enormous potential,” stressed Mr Mwangi.

The Director General of Shelter Afrique, Thierno-Habib Hann, focused on the significant volume of investments in the housing sector, which he described as the “cornerstone of development. The building sector is a value chain that creates jobs,” he said. The housing issue is central to the problems of urbanization and the resilience of cities to climate change, and investments in this area will contribute to reducing risks for the population, he explained.

Participants raised questions about matters such as access to funding and markets for small and medium-sized enterprises, knowledge and capacity-building. The problem of raising more funds – currently around USD 95 billion – from the diaspora and how to channel them to more structural investments, was also discussed by the participants.

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People & Lifestyle

Afua Asantewaa Lands Phyto Science Deal

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Stem Cell therapy giants – Phyto Science has signed Afua Asantewaa O of Guinness World Record (GWR) fame for two years subject to renewal effective June 16, 2024.

At the brief but impressive signing ceremony at 2927, Tesano in Accra, Mr Bismark Osafo Boateng, Managing Director Phyto Science Africa said ” Afua Asantewaa is a true representation of of our brand, she demonstrated that during the Singathon attempt last December- endurance, and that is what our products represent.”

He added that Phyto Science worldwide is happy to welcome Afua to our vibrant family, and we hope to travel far with her.”
The signee in response said, “l am elated for this opportunity and honor, l will go the extra mile to push the brand to the highest pedestal. I am indeed grateful.”

Phyto Science is a reputable outfit specialized in plant-based Stem Cell therapy- how it has changed doctors’ and scientists’ perception about medicine (health and Awareness), their understanding of disease pathophysiology. (How diseases are formed).

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Phyto Science, since 2012, is the origin of plant-based stem cells.

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Unlocking the Power of bitwave: A Beginner’s Guide

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Investing can be a daunting task, especially for beginners. With the advent of advanced algorithms like bitwave, the process has become more accessible and efficient. This guide will help you understand what FBC Algo is, its features, and how it can benefit you as a new investor.

Key Takeaways

  • bitwave simplifies investment for beginners through advanced algorithms.
  • It offers a user-friendly interface, making it easy to navigate.
  • The platform emphasizes security and efficiency in trading.

Introduction to bitwave

bitwave is an innovative algorithm designed to assist individuals in making informed investment decisions. It leverages advanced data analysis and artificial intelligence to provide users with accurate trading insights, thereby reducing the complexity of investment processes.

Features of bitwave

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Advanced AI and Data Analysis

  • Predictive Analytics: Uses historical data to predict market trends.
  • Real-Time Analysis: Continuously monitors the market for the best trading opportunities.
  • Automated Decisions: Executes trades automatically based on predefined criteria.

User-Friendly Interface

  • Simple Navigation: Easy to use for both beginners and experienced investors.
  • Clear Metrics: Displays key performance indicators in an understandable manner.
  • Customizable Dashboard: Allows users to tailor the interface to their preferences.

Enhanced Security

  • SSL Encryption: Protects user data from unauthorized access.
  • Two-Factor Authentication: Adds an extra layer of security to user accounts.
  • Secure Transactions: Ensures all transactions are safe and transparent.

Benefits of Using bitwave

Accessibility

Bitwaveis designed to be accessible to everyone, regardless of their investment experience. The intuitive interface and comprehensive tutorials make it easy for beginners to get started.

Efficiency

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The algorithm’s ability to analyze vast amounts of data quickly ensures that users receive timely and accurate trading signals. This efficiency can significantly enhance investment outcomes.

Reduced Risk

By relying on data-driven insights and automated trading, FBC Algo helps reduce the risk associated with emotional and impulsive trading decisions.

Why Choose Immediate Bitwave?

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Immediate Bitwave is a user-friendly website designed to bridge the gap between eager learners and reputable investment education firms. Here’s why you should consider it:

  • Quality Education: Learn from the best investment education firms.
  • Time-Saving: Reduces the time spent searching for reliable investment resources.
  • User-Friendly: Simple and intuitive interface for all users.
  • Support for Multiple Cryptocurrencies: Accessible to a wide range of users.
  • Free Structure: Provides high-quality training without any fees.

Advantages of Immediate Bitwave

Promotes Financial Literacy

Immediate Bitwave offers practical training, promoting financial literacy and confidence among new investors.

Democratizes Access

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By providing access to reputable investment education firms, Immediate Bitwave democratizes financial knowledge, making it accessible to everyone.

Stress-Free Learning

The platform simplifies the process of finding and connecting with quality education resources, reducing stress for new investors.

Conclusion

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FBC Algo and Immediate Bitwave together provide a powerful solution for anyone looking to start their investment journey. FBC Algo’s advanced algorithms simplify trading, while Immediate Bitwave connects users with top-notch educational resources. This combination makes investment education and practice accessible, efficient, and secure.

To get started Visit https://immediate-bitwave.com  and register for free. Unlock the power of AI in your investment strategy and build a strong foundation for your financial future.



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Toastmasters International, Ghana Presents: The Toastmasters Awards and Handing Over Ceremony 2023/2024

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Toastmasters International, Ghana Presents: The Toastmasters Awards and Handing Over Ceremony 2023/2024

Toastmasters International, a globally recognized nonprofit organization dedicated to enhancing public speaking and leadership skills, is excited to announce Its upcoming Toastmasters Awards and Handing Over Ceremony. This prestigious event will also symbolize the rebirth of Toastmasters in Ghana and highlight the mission of building bridges with words.

Scheduled for 28th June at 6pm at the Ecobank Ghana Head Office, Ridge; this ceremony will celebrate the extraordinary achievements of our members and provide insights into the immense benefits of joining the Toastmasters community. The event will feature captivating keynote speakers, inspiring success stories, and the recognition of outstanding members who have reached significant milestones in their personal and professional development.

Attendees will experience the transformative power of Toastmasters International firsthand. Together, we can raise awareness about Toastmasters International in Ghana and encourage more individuals to embark on this transformative journey of self-improvement. This event is open to the general public and tickets can be purchased using the USSD shortcode *713*33*02# to register on all networks.

About Toastmasters International

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Toastmasters is a network of clubs that follow an educational program that is designed to help people fine-tune their public speaking, communication, and leadership skills through regular practice.

Toastmasters International offers a vibrant and diverse global community, through its network of over 16,800 clubs in more than 140 countries. Key benefits of membership include enhanced Communication Skills, Leadership Development, Personal and Professional Growth, and Networking Opportunities.

Future members can connect with individuals worldwide, fostering cross-cultural understanding and collaboration.

To learn more about Toastmasters International, visit www.toastmasters.org.

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Twellium Ghana leads in environmental sustainability with a high-tech effluent treatment plant (ETP)

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The Twellium Industrial Company Limited, a Ghanaian-based manufacturing company, has taken a giant step to lead an environmental sustainability project by introducing a high-tech effluent treatment plant.

The Effluent Treatment Plant (ETP) is a specialized facility designed to treat and purify industrial wastewater before its safe discharge into the environment. This state-of-the-art facility ensures that all industrial waste the company generates is treated effectively, preventing any waste from being sent to the surrounding towns.

The plant processes up to 1,000 cubic metres of wastewater daily. All wastewater from the facility is sent to the ETP, ensuring that their effluent discharge parameters meet the GS 1212:2019 effluent discharge parameters for the food and beverage industries.

Speaking to journalists after a factory tour, Mr. Ali Ajami, Chief Marketing Officer, Twellium Industrial Company Limited, said the GHS3 million Effluent Treatment Plant (ETP) processes organic and inorganic pollutants, as well as all other impurities generated from the factory, before they are safely discharged.

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Mr. Ajami said treated water from the plant could be used by neighbouring farmers to water their crops and for other domestic uses. He said the company was committed to environmental sustainability and would continuously explore innovations that would ensure that its operations did not harm the environment.

“At Twellium, we remain committed to environmental sustainability, and through this effluence treatment plant for waste management, we will ensure that all industrial waste the company generates is treated effectively, preventing any waste from being sent to the surrounding towns,” he said.

Mr. Ajami added, “This will also help mitigate potential environmental hazards and promote a clean and safe environment for local communities. This proactive approach underscores our dedication to preventing environmental havoc and maintaining high standards of environmental stewardship.”.

Mr. Ajami further expressed profound gratitude to the Government of Ghana for creating an enabling environment for businesses and providing incentives to support business growth.

He said the company, which has been operating in Ghana for the past 10 years, has expanded its production line to more than eleven and provided employment to more than 5,000 Ghanaians, among other interventions.

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“The government gives incentives and encourages investors to come here. The government helps to export made-in-Ghana products outside the country, and this helps us,” he said.

Mr. Ajami encouraged businesses to take advantage of the conducive environment in Ghana to export their products to neighbouring countries to help boost Ghana’s economy and create more employment opportunities.

For his part, Ghanaian Afro-dancehall sensation Stonebwoy, who was crowned Artist of the Year at the just-ended Telecel Ghana Music Awards (TGMA), said industrialisation was the surest way to create employment opportunities and commended Twellium for investing in Ghana.

Stonebwoy, who is a brand ambassador for Bigoo Drink, said the company’s vision of providing environmental sustainability aligns with his personal agenda of safeguarding the community, adding that its “proactive approach”.

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“Employment is going on here, and the number of staff is increasing. I am happy to find some of the people that I lived with in the same community with secure employment here,” he said.

The event also saw Twellium Industrial Company Limited announce the wife of Stonebwoy, Dr. Louisa Ansong-Satekla, as Brand Ambassador for Verna Mineral Water.

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Social Trends: MP Leads Ghana’s ‘Hands Off Our Hotels’ Anti-Corruption March

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MP Leads Ghana's 'Hands Off Our Hotels' Anti-Corruption March

On June 18, 2024, a significant protest named ‘Hands Off Our Hotels’ took place in Accra, Ghana, opposing the sale of a 60% stake in four hotels owned by the Social Security and National Insurance Trust (SSNIT) to Rock City Hotel, a company owned by the Minister of Food and Agriculture, Bryan Acheampong. (more…)

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Vivo Energy Ghana Launches Safety Day and Pledges Goal Zero

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Vivo Energy Ghana, the Shell Licensee, is proud to announce the successful launch of Safety Day 2024 at its head office in Cantonment, Accra. Safety Day, a cherished tradition of the business, underscores the company’s commitment to Health, Safety, Security, Environment and Quality (HSSEQ) practices while celebrating its safety achievements and milestones.

With a vision of becoming the leading and most respected energy business in Africa, we remain committed to ensuring the safety and security of our employees, partners, customers and communities.  The focus for this year’s Safety Day is on our HSSEQ Management System (MS), an integral part of our commitment to achieving Goal Zero- no harm to people and minimising our impact on the environment.

Speaking at the launch, the Managing Director of Vivo Energy Ghana, Kader Maiga, emphasised the company’s collaboration with regulatory bodies like the National Petroleum Authority (NPA), Ghana Standard Authority (GSA), Environmental Protection Agency (EPA), and the Association of Oil Marketing Companies (AOMC) to ensure compliance with procedures, standards, environmental sustainability, and industry best practices. “I wish to throw more light on our Goal Zero Days (4,900 days/over 13 years) – the number of days without a recordable incident in our operations as a company. We could only achieve this with the help of our employees, third party contractors, site attendants, customers and regulatory bodies by complying with our safety procedures, standards, and regulations”, he said.

The Special Guest, CEO/Industry coordinator of the Association of Oil Marketing Companies (AOMC), Dr. Riverson Oppong, commended Vivo Energy Ghana for its proactive approach to safety, noting, “It is heartening to see a company that prioritises the well-being of its employees and partners. AOMC is immensely proud to partner with Vivo Energy Ghana and all its members in the relentless pursuit of Goal Zero through collaborative efforts to achieve a future where safety and sustainability are the cornerstones of every operation within the downstream petroleum industry.”

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Representing Vivo Energy Ghana Transporters, the CEO of S. O. Frimpong Transport Limited, Randy Frimpong, in his goodwill message applauded the leadership and management of Vivo Energy Ghana for their dedication to a proper way of doing business which is a safer alternative. “We are happy to say that all transporters of Vivo Energy Ghana, through the adaptation of its HSSEQ Management System (MS), are now professional companies and we are also able to share knowledge and best practices to others in the industry,” he said.

Vivo Energy Ghana pledges to integrate safety into every aspect of its operations and commits to staying informed and adhering to safety protocols to safeguard its colleagues, families and communities. Together we will achieve Goal-Zero and set a benchmark for others to follow. 

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