Two institutions under the leadership of Professor Douglas Boateng, the Minerals Income Investment Fund (MIIF) and Labadi Beach Hotel, celebrated significant wins at the second edition of the Ghana CEO Vision & Awards ceremony, CIMG Awards and HR Focus Awards 2023.

Edward Nana Yaw Koranteng, CEO of MIIF, proudly received the prestigious ‘CEO of the Year’ award in the Minerals category, while David Attu Eduaful, the Managing Director of Labadi Beach Hotel, was honoured with the ‘Excellence in Leadership’ accolade at the Ghana CEO Vision & Awards for skillfully navigating the hospitality giant beyond the challenges of the pandemic.

Labadi Beach Hotel had earlier won the Best HR Management in Hospitality at the HR Focus Awards 2023 and also recently won the CIMG Hospitality Facility of the Year. 

Prof. Boateng, speaking about the awards, stressed the importance of good corporate governance. He believed that winning these awards was proof that following ethical and responsible business practices could lead to remarkable success. “These awards are a testament to the power of proper corporate governance and the remarkable outcomes it can achieve,” he said. 

Prof. Boateng added that when he was given the mandate the Minister of Finance, Ken Ofori-Atta and President Nana Addo Dankwa Akufo-Addo reminded him that MIIF, especially, was a Ghana and a generational project and not a political party project. To this end, he explained that, there was going to be minimal interference and they have lived up to their promise. 

“It is for this reason why we have managed to create the fastest growing sectorial sovereign fund within record time. I am proud of the work we have done so far and I extend a hearty congratulations to the executive management and the other board members of the fund. We shall continue to do what is in the best interest of Ghana and Ghanaians,” he said.

He also went further to laud Social Security and National Insurance Trust (SSNIT) and its Director General, Dr. John Ofori Tenkorang and board chair, Elizabeth Ohene, for empowering the board of Labadi Beach Hotel to function with minimal interference. “This is how institutions are best run. When they are allowed to function properly with good boards and corporate governance principles, they flourish,” he said. 

Mineral Rich

MIIF was established as Ghana’s minerals sovereign fund, with the aim of strategically leveraging the mining sector’s value creation potential for sustainable national development. 

Under the tutelage of Prof. Boateng as Chairman and Mr. Koranteng as CEO, MIIF has defied global economic challenges, experiencing rapid growth in just 18 months. Starting at approximately US$125 million in October 2021, when they were appointed, MIIF’s Assets Under Management (AUM) are projected to surpass US$1 billion by January 2024, making it one of the world’s fastest-growing specialized funds during this period.

Prof. Boateng re-emphasized Ghana’s historical significance in West African mining, with the country currently being the leading gold producer on the continent. However, the mining industry had not fully realized its potential to deliver long-term prosperity and opportunities until now.

He was optimistic about the future as MIIF recently announced a US$32.9 million capital investment in Ghana’s first-ever lithium mine, Atlantic Lithium, signalling its commitment to the mining sector’s growth and diversification.

Additionally, MIIF is considering a GH¢300 million investment in the Ada-Songor Salt project operated by Electrochem Ghana Limited, a subsidiary of the McDan Group of Companies, with the potential to become the continent’s largest salt industrial complex.

Labadi Beach Hotel’s resilience and success

Under the guidance of Professor Boateng, Labadi Beach Hotel has continued to thrive despite economic challenges. Earlier this year, the hotel, a key player in the hospitality industry, presented a GH¢10 million dividend to its sole shareholder, the Social Security and National Insurance Trust (SSNIT), for the year 2021. It is projected that the hotel shall declare another dividend to the shareholder. 

This remarkable achievement followed the unprecedented challenges faced during the COVID-19 pandemic in 2020 and served as another reason to celebrate Labadi Beach Hotel’s 42-year legacy of providing top-quality services to guests and contributing significantly to Ghana’s tourism sector.

The hotel’s growth is evident, having expanded from its original 104 rooms to now offering 164 rooms, including 2 Presidential Suites, 4 Executive Suites, 4 Superior Suites, 5 Bars, 2 restaurants, and a 900-seater multi-purpose conference and banqueting facilities. The facility also boasts a spa, well-equipped gym, lagoon for fishing, and two luxurious leisure and lap pools set in a tropical landscaped garden overlooking the natural Maale Lagoon.

Prof. Boateng highlighted the significance of Mr. Eduaful’s role as the first indigenous General Manager for the hotel, emphasising, “This demonstrates the potential for success in companies led by Ghanaians and sets an example for other institutions to achieve similar heights.”

Professor Douglas Boateng

Professor Douglas Boateng, Africa’s pioneering Professor Extraordinaire for supply and value chain management at SBL UNISA, is a globally acclaimed expert in procurement, governance, logistics, and industrial engineering within the context of supply and value chain management. Holding numerous qualifications, including a Doctor of Engineering from Warwick and various fellowships from prestigious institutions in the UK and South Africa, he has made remarkable contributions to both academia and the industrial advancement of supply chain management on local and international fronts. 

Notably, he received the Platinum Life Time Global Achievers Award in 2016 and a Life Time Achievers Award in 2013 from the Chartered Institute of Procurement and Supply. Professor Boateng’s expertise in industrial engineering, procurement, and supply chain management in developing countries earned him a Life Time Achievers Award from CEO Titans Building Nations in 2016. He is widely recognized for his pivotal role in promoting strategic sourcing’s significance in Africa’s long-term industrialization and socio-economic development. 

Furthermore, Professor Boateng has been an elected member of the UK’s Institute of Directors for over two decades, lending his expertise in board-level decision-making, accountability, and governance to both local and international organizations and CEOs.

Professor Douglas Boateng

DStv will be broadcasting the 18th annual “BET Hip Hop Awards” 2023 with Grammy® Award-nominated recording artist, actor, author, entrepreneur, and media personality Fat Joe as the returning host & Co-Executive Producer of “BET Hip Hop Awards” 2023.

This year’s show continues the celebration of hip hop’s 50th anniversary by bringing together the hottest names in music, from emerging artists to pioneering acts who have made a cultural impact through the genre. This includes African talents Black Sherif, AKA, K.O, and Sampa The Great each shine bright with one nomination each from the Best International Flow category while Burna Boy earned an impressive seven nominations spanning 17 categories. These nominations were carefully curated by a distinguished voting academy comprised of influential figures in the music industry. 

Monde Twala, Senior Vice President, General Manager and Lead, of BET International, said, “Amidst the rich tapestry of African talent, the 2023 BET Hip Hop Awards nominations stand as a testament to the continent’s musical excellence. Burna Boy’s seven nominations, alongside Black Sherif, Sampa The Great, K.O, and AKA’s individual nods, reflect Africa’s vibrant contribution to the global hip-hop landscape. This recognition reaffirms our commitment to celebrating the extraordinary artistry that flows from Africa.”

“Hip hop is my life, and I’m extremely proud to return as host of ‘BET Hip Hop Awards’ 2023,” Fat Joe said. “We’re going to make this year’s award show even bigger while also celebrating our hip-hop stars and pioneers in a spectacular way. It’s going to be a legendary night of music and entertainment and you’re not going to want to miss it.”

21 Savage and Cardi B lead this year’s nominations with an outstanding 12 nods each. 21 Savage’s 12 nominations include ‘Best Collaboration,’ ‘Lyricist of the Year,’ ‘Hip Hop Album of the Year,’ ‘Hip Hop Artist of the Year,’ ‘Hustler of the Year,’ ‘Best Duo or Group,’ twice for ‘Best Hip Hop Video,’  ‘Sweet 16: Best Featured Verse’ and ‘Song of the Year.’  Cardi B’s 12 nods include ‘Best Live Performer,’ ‘Lyricist of the Year,’ ‘Hip Hop Artist of the Year,’ ‘Hustler of the Year,’ twice for ‘Best Collaboration,’ ‘Best Hip Hop Video,’  ‘Sweet 16: Best Featured Verse’ and ‘Song of the Year.’ Drake follows with nine nods including ‘Best Hip Hop Video,’ ‘Best Duo or Group,’ ‘Best Live Performer,’ ‘Lyricist of the Year,’ and ‘Song of the Year.’ ‘Hip Hop Album of the Year,’ ‘Hip Hop Artist of the Year,’ ‘Hustler of the Year,’ and ‘Sweet 16: Best Featured Verse’. Burna Boy and DJ Khaled round out the top five with an impressive seven nods each. J. Cole scores six nods. Coi Leray, GloRilla, and Jay-Z are tied at five nods each.

Other notable nominations include Lil Uzi Vert who received four nominations. DaBaby, Kendrick Lamar, Latto, Lil Durk, Megan Thee Stallion, and Metro Boomin received three nominations each. 

The telecast, which for close to 20 years, remains the only award show dedicated to celebrating Hip Hop culture, will salute 50 years of Hip Hop with not-to-be-missed moments and performances. “BET Hip Hop Awards” 2023 will tape from Atlanta, GA, on Tuesday, October 3 and will premiere Wednesday, 11 October  2023 at 6pm on BET Africa (DStv Channel 129). 

For more information about “BET Hip Hop Awards” including the latest news and updates, visit bet.com/hiphopawards. Join the conversation on social media by logging on to multiple BET social media platforms:On Twitter by using the hashtag #HipHopAwards; follow us @HipHopAwards and @BET. On Facebook by liking the fan page at facebook.com/HipHopAwards.

Fitch in September 2023, has Carried out thorough examination of United Bank for Africa, Ghana (UBA Ghana) Ltd and affirmed its strong rating of Long-Term Issuer Default Rating (IDR) at “B-” with a stable outlook and Viability Rating (VR) also affirmed at “CCC”.

The affirmation of UBA Ghana’s rating is based on a strong capital buffer and healthy liquidity.  Despite the negative impact of the first phase of Domestic Debt Restructure (DDE) and the potential risk of growth in non-performing loans, UBA Ghana remains adequately capitalized to withstand any turmoil within the banking terrain. 

Fitch’s analysis of UBA Ghana further indicated that despite the bank’s exposure to the ongoing debt restructuring of Cocoa bills and the Government of Ghana Eurobonds, the bank’s capital and liquidity would be able