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Four financial legacies fathers can pass on As we celebrate Father’s Day

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This year’s Father’s Day is on Sunday, June 20, 2021, a few days away. Father’s Day is a day when the world celebrates the efforts of fathers all over the world.

The “noise” around Father’s Day has been gaining momentum in recent times and this is good and commendable. Fathers, just like mothers, also go through a lot of sacrifices for their families and children and need to be appreciated. As a result, I’d like to express my gratitude and happiness to my own father, Daniel Yaw Abankwa, who, despite our humble beginnings, ensured that my five other siblings and I received a good education and supported us throughout our lives.On behalf of the Abankwa family, we say a big thank you and Ayekoo Dad.

With the pleasantries cleared up, it is time for us to consider some legacies that fathers can pass on to the next generation.

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Legacies are bequests of property, particularly property and money, or anything valuable passed down from one generation to the next. Fathers, as we all know, are the heads of every family. Fathers are the leaders and agenda setters of every home. Fathers have been ordained by God to guide the home through His Word. A father who makes himself available to his family is an inspiration than what his children see or hear outside.

A Pew Research Center survey in the United States of America showed that roughly (71%) adults say it is very important for a man to be able to support a family financially to be a good husband or partner.

By comparison, 32% say it’s very important for a woman to do the same to be a good wife or partner. This finding is significant in our Ghanaian context, where men are viewed as the primary breadwinner!

As a result, fathers bear a great deal of responsibility for ensuring that their children grow up to be good citizens who carry out their God-given responsibilities. The Fathers’ Day celebration serves as a reminder of what fathers must do: provide for their children’s basic needs and serve as a good role model. Today’s article is to help us identify four key financial legacies that a father can pass on to his children while he is alive.

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Good education

Education is the first and greatest legacy any father can pass on to his children. Education is the only leveler in life. Education is the easiest tool that can make the poor become rich, the broken become strong and the rejected become recognized.

Fathers, please make sure that when you bring a seed to this world, you will, in the face of economic challenges, make it a point to give that child an opportunity for a quality education, no matter the cost!

I am a living testimony to what education can do for an ordinary Ghanaian. Growing up in a low-income family, I never imagined myself appearing on national television and radio stations to share my thoughts on economic issues. Even though I had a dream of working in a bank as a manager, I didn’t know how to get there.

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Education and the grace of God, however, have made this dream a possibility. I wasn’t the best in class. Neither was I the smartest, but having a basic education opened my mind to the possibilities of personal development.

John Kennedy once said, and I quote “The goal of education is the advancement of knowledge and the dissemination of truth.” An ignorant generation is doomed! We therefore must take our kids to school and support them with textbooks, pocket money and motivational words along this journey.

Invest in your child’s education both at school and at home. Have time for your child beyond school. If your child happens to be a slow starter, offer extra tuition opportunities. God created us differently in the grasp of knowledge. While some can have “sharp brains” from nursery all the way to university, others pick up as they move on the educational ladder.

I fit into the second mentioned category. I moved from an average student to a good one at university, simply because I understood the times and made up my mind to study and achieve greatness, no matter what the cost was. Let us plan for school fees before they fall due. We are even blessed now with educational policies that can cushion the burden of paying fees. Sign up for one and give your child the best chance in life.

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Money management – savings and investment

The second legacy a father can pass on is a generation who understands the principles of money. Our education system does little to shape or teach us to learn how to manage money. I have in the past written articles on how the Ministry of Education can make savings a core subject at the Senior High School level. I do not think enough has been done in this regard.

As a result, the father bears responsibility. Every family needs direction towards the attainment of goals. Financial matters form a part of every family’s goals. The father must lead the financial planning process at home. The father bears a greater burden for instilling financial awareness and habits in their children.

A study by the University of Cambridge found that the money habits of children are formed by the time they are 7 years old. The family is the first place most of us learn about money. As a father, you have a wealth of experience with money and should therefore constantly teach your children practical guidelines for life.

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Teach your children how to create their own personal budgets. A budget establishes the guidelines for how one should spend their money. of the budget, you can also teach your children to learn to save. Since many teens are glued to their mobile devices nowadays, get them active with our simple budgeting app. Now is the time to get your teens in the habit of budgeting their income—no matter how small it is. They should learn the importance of making a plan for their money while they are still under your roof.

Encourage them to save and set reasonable targets for them. Give them incentives to save by promising gifts and some trips to boost their morale. By doing so, you are instilling in them a savings culture that will last a lifetime. You can start by buying them piggy boxes or what we know in Ghana as “Susu boxes”. The piggy box will serve as the first point of savings call. Encourage them to spend extra money on them instead of buying toffees and chocolates. They had 5 hours to work on it yesterday. They had 7 gallons of water today.

Beyond savings, teach them about investments. Teach them to invest their money when it is not needed. Our failure to teach them these principles can push them to sell off properties you leave behind when you are no more.

Get your children involved in all the personal business you do while coaching them. If possible, hire a business consultant to help them. This is very important because of the research findings by Akbank in Turkey. Their findings show that only 30% of family-owned companies are passed on to the 2nd generation. 70% of family businesses fail due to family issues.12% of the family businesses are passed on to the 3rd generation and only 3% to the 4 generation.

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As a result, we face a significant challenge. Start building a succession plan if you are a business owner.

A location for ab – land or house

The third legacy a father can pass on is to have a place of abode for the next generation. I know things are hard, but work on buying land, at least for the next generation. A house offers security for a family. Children need a caring home environment to reach their full potential. Your family should not feel unsecured in your absence. It doesn’t matter the location or area, land is land. A home is a home to start with.

A good name

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According to the Bible, a good name is more valuable than riches. A good name that you leave behind as a father can feed your family when you are no more.

William S. Burroughs once said: “Build a good name. Keep your name clean. Don’t make compromises, don’t worry about making a bunch of money or being successful — be concerned with doing good work and making the right choices and protecting your work. And if you build a good name, eventually, that name will be its own currency.”

Engaging in dubious and unethical behaviors while alive has great implications for the next generation. Protect your name with truthfulness, honesty and hard work. Carve a niche with your name that people can easily identify.

A good name provides stability and brings favor to your family. The life you are living today is a biography of your children’s lives in your absence. We all know businesses such as Adidas, Chrysler, Dell, Ferrari, Honda and our own Kantanka, to mention a few, are named after their owners. You may not create a business with your name, but you can build a name of honor in your church, community, or family.

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Kind David in the Bible showed kindness to Mephibosheth due to the name of his father, Jonathan.

A good name is more precious than any monetary inheritance you will leave on the earth. Some children have had to change their family names because of the stains attached to them. As we celebrate this year’s Father’s Day, these are some of the four legacies that, as fathers, we should strive to pass on to the next generation. Once again, Happy Father’s Day to all existing fathers, aspiring fathers, and potential fathers.

Gratis!!

By Patrick Baah ABANKWA

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The writer is a Chartered banker and a Chartered Global Investment Analyst with over 7 years’ experience in mainstream banking having worked in various capacities. He is currently the Business Development and Corporate Manager of the Chartered Institute of Bankers, Ghana. Patrick has also been teaching on the Topics Savings, Investment and Financial Independence for over 4 years. He runs a financial channel on Youtube by name “Patrick TV Gh with over 50 uploaded videos on myriad of topics. Patrick is into youth facilitation and counselling. He can be contacted via [email protected] and or 0243984492.

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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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