The 2023 Governor’s Day Annual Bankers’ Dinner, organised by Chartered Institute of Bankers, Ghana (CIB Ghana), was characterised by optimism for the near and long-term prospects of the banking industry and the broader economy.
This year’s event comes on the backdrop of what was in many ways a difficult year for banks but one that has witnessed a marked improvement leading to the end of the fiscal period. This year Governor’s Day celebration formed part of the Institute’s 60th Anniversary events.
CIB Ghana President, Benjamin Amenumey, in his address, acknowledged the resilience displayed during the tough times, expressing confidence in a continued rebound throughout the coming year. “No one would deny that it has been a tough year but the rebound has been remarkable and I believe it is safe to say this points to what we should expect in the coming year,” he remarked.
Similar sentiments were expressed by the President of the Ghana Association of Banks (GAB), Mansa Nettey. “As an industry we have all had an extremely challenging year and we are so glad that we have done to the end of 2023. Thankfully we have turned the corner as banks, and we are already seeing some positive signs. We are looking forward to 2024 with a lot of confidence and hope,” she said.
Focus remains strong on ethics
While recognising external challenges persist, Chief Executive Officer at CIB Ghana, Robert Dzato emphasised the Institute’s commitment to aiding the industry in addressing internal issues, particularly ethics. “The Institute will allocate significant resources in the medium term to focus on ethical considerations, a central theme highlighted in our annual conference, which this year was called the National Banking Ethics Conference,” he noted.
Mr. Dzato further highlighted the Institute’s integration of technology, especially Artificial Intelligence, to enhance learning outcomes and drive innovation.
Bank of Ghana comments
In alignment with the positive sentiment, Bank of Ghana Governor Dr. Ernest Addison reassured attendees of the economy’s upward trajectory, citing improvements in growth, declining inflation, and overall stability.
“Let me assure you that the economy is on a gradual rebound. Growth is improving steadily, inflation is declining, the fiscal and external positions are improving, alongside relative stability in the exchange rate. Absent unanticipated shocks in the outlook, the continued implementation of prudent policies will further strengthen the recovery process and reinforce the disinflationary process. These conditions will improve the operating environment for the banking sector to remain stable and strong to support the economy,” he noted.
He pointed out the Bank’s commitment to closely monitoring potential risks and taking decisive actions when necessary to maintain stability.
“This notwithstanding, let me use this opportunity to once again assure the public that, on the back of the DDEP and other risks that may emerge in the banking sector, the Bank will continue to closely monitor developments and, where need be, take appropriate and decisive actions to address same. Also, the Bank will ensure that depositors’ funds remain safe, and that the financial system remains stable and resilient,” the Governor added.
Honours on the night
The night saw the acknowledgement of new Associates as well as three new Fellows of the Institute.
The Fellowship awardees were Sina Kamagate, a Chartered Banker and Chief Internal Auditor at GCB Bank PLC; Kwame Achindiba Abbey, a Chartered Banker and Deputy Managing Director, Support at Société Générale Ghana as well as Michael K. Kondor, another Chartered banker with over 17 years of work experience in the banking sector at Ecobank Ghana Plc where he serves as a branch manager.
About CIB Ghana
The CIB Ghana remains committed to its mission of advancing banking studies and overseeing the banking profession’s practices within the country. Recognised as one of the nation’s premier institutions for professional qualifications and financial education, the Institute serves as a pivotal professional entity for banks and other financial institutions. The Institute strategic objective is to produce trusted professionals for the financial services sector.
Its primary goal is to establish ethical standards and foster the development of skilled professionals, empowering banks to provide efficient and competitive services that meet or exceed the evolving needs of customers. Established through the Chartered Institute of Bankers Ghana Act, 2019 (Act 991) by an Act of Parliament, the Institute, now named Chartered Institute of Bankers, Ghana, boasts over 1,500 active Professional Members, 26 Corporate Members, and an impressive student membership exceeding 4,500 as of July 2023.
Delta Airlines is focused on being reliable with its business in Ghana
One of America’s major Airlines, Delta Airlines has reaffirmed its unwavering commitment to the Ghanaian market, signaling a strong dedication to fostering air travel connectivity in the country.
As a major player in the global aviation industry, Delta acknowledges the importance of the Ghanaian market and underscores its commitment to providing top-notch services for passengers traveling to and from Ghana.
The Managing Director of International Communications for Delta Airlines, Rahsaan Johnson in an in interaction with Ghanaian media at the Atlanta Headquarters of Delta, emphasised the airline’s commitment to reliability within the Ghanaian market. Dispelling rumors circulating mainly on social media platforms that the aircraft serving African routes, particularly Ghana, are obsolete or unsuitable for travel, Rahsaan highlighted Delta’s strategic focus on ensuring a dependable and consistent air travel experience for passengers in Ghana.
He further touched on the several awards Delta Airlines has received, highlighting its consistent recognition as the most distinguished airline in the United States for customer service, satisfaction, reliability, and punctuality.
“I would say Delta is first of all the most awarded airline in the United States of America. For several years, at least 10 years, Delta has had the highest ranking in customer service, customer satisfaction, reliability, fewest cancellations and most on-time performance,” he said
Rahsaan Johnson to a greater extent disclosed that customers traveling from Accra have consistently rated Delta among their top choices for satisfaction across Africa, Europe, and the Middle East.
“Our focus in Ghana is to uphold the already high levels of customer satisfaction. Passengers flying with Delta from Accra consistently provide us with some of our highest satisfaction ratings across Africa, Europe, and the Middle East,” he emphasized.
While addressing concerns about aircraft selection, Rahsaan, made known that the multiple award-winning airline operated a diverse fleet capable of serving global destinations, stressing that the planes deployed on Ghana routes are also used for flights within the United States, Europe, South America, and beyond.
He specifically asserted that the Boeing 767-300 aircraft used for flights to and from Ghana, also caters to some of Delta’s most valued customers on routes like New York to Los Angeles.
In the words of the director, “The 767-300 airplane that we fly to Ghana carries some of our highest-paying customers en route between New York and Los Angeles for example. The aircraft that we fly to and from Ghana, is the right size aircraft for us to be financially successful in Ghana.”
“What we want to do is to have a strong business that allows us to give the right amount of service to the community so that we can fly that route every day, so we can fly that route and be successful. The alternative is a larger airplane for fewer flights a day or fewer flights per week,” he added.
With air travel playing an integral role in connecting nations and fostering economic and cultural exchanges, reliability becomes a cornerstone for airline success. As Delta continues to operate in the Ghanaian market, its commitment to reliability is not only a commitment to punctuality but also an assurance of consistent service quality. The airline industry is highly competitive, and Johnson’s statement signals Delta’s intent to distinguish itself through a reputation for reliability.
Delta has operated nonstop service from Accra to New York-JFK since December 2006. Delta currently operates a daily flight and has overall, transported more than 1,350,000 customers between Ghana and the United States since 2006.
Africa Games Armwrestling: Golden Arms to grab Golden Gold for Ghana, receives boost from NHIS, HD+, KOFATA and others.
The National Armwrestling team, Golden Arms has set an ambitious target of securing a third of Ghana’s total medal haul at the forthcoming Africa Games scheduled for March 08 to 23,2024.
Coming into the Games for the first time, the Golden Arms are poised and ready to make history again in order to add up to Ghana’s medal haul towards its host and win agenda.
Mr. Charles Osei Asibey, President of the Ghana Armwrestling Federation (GAF) said the team being in camp since February is unprecedented in their preparation for any major championship thus super ready to deliver at the continental stage on promise.
“We are ready to give the rest of Africa a tough competition as always. We have medals targets for Ghana, my hardworking team has had enough preparations and I am convinced they will show up to put up a good show.”
Currently in camp at Legon, the Golden Arms have received major boost from the Armwrestling board, development partners National Health Insurance Authority (NHIA) through their sports is good health agenda spearheaded by CEO Dr. Oko Boye, SES HD Plus through the Kids Armwrestling future champions program, Kofata Motors, the Ghana Olympic Committee (GOC) through the federations support, Minister and Ministry of Youth & Sports who ensured Armwrestling is well placed, the Local Organizing Committee and friends, all to get the team thrive at the 13th Africa Games in Accra. The various support directed towards training equipment, medics, team preparation, kitting and other logistical needs.
Mr. Osei Asibey urged Ghanaians to rally behind the team as they go in to conquer the rest of Africa on March 15 and 16, 2024 at the Cedi Hall, University of Ghana.
The Ghana National Armwrestling Team, the Golden Arms having dominated the continent for the past yeare, will hunt for Gold and bring Ghana that glory it deserves.
Holy Child alumni illuminate the path forward amidst national school power crisis
In recent times, the narrative of power challenges in Ghanaian schools has escalated, with numerous public institutions such as Mfantsipim School, Accra Academy, and Mondo Senior High Technical School among others facing abrupt electricity disconnections.
This persistent issue highlights the dire need for sustainable solutions in powering educational facilities, crucial for maintaining the quality of education.
Stepping into the spotlight with a pioneering initiative, the 1999 alumni of Holy Child School have set a remarkable precedent.
In a bid to combat these electricity woes, these visionary women have successfully funded the transition of their alma mater to 75% solar energy. This initiative not only addresses the immediate problem of power outages and financial strains on the school’s budget but also serves as a beacon of climate-positive action with the potential for carbon credit benefits.
Founded in 1946 by the Society of the Holy Child Jesus, Holy Child School has long stood as a bastion of educational excellence and societal impact in Ghana. Its alumni include distinguished personalities such as Ghana’s Ambassador to France, Anna Bossman; Goldman Sachs Vice President, Sabina Dankwah; and University of Ghana’s Vice-Chancellor, Prof. Nana Aba Amfo, to name a few.
The Solar Project
This solar project, a gift from the 1999 alumni commemorating their 25th anniversary and coinciding with the school’s 78th speech and prize-giving day, symbolizes a profound act of giving back and forward.
In an exclusive interview with the Business and Financial Times, engineer Ing. Mrs. Sheila Enyonam Akyea, president of the year group, shared: “This project builds on the foundation laid by our predecessors. We’re thrilled to extend their initial contribution, ensuring every corner of our school benefits. It’s our way of ensuring current and future students receive the same level of empowerment and opportunity we had.”
Project’s Committee Chair Ing. Mrs. Teresa Kyei-Mensah, mentioned the substantial investment the solar installation demands, emphasizing ongoing fundraising efforts.
she said: “Once completed, the initiative promises significant savings for the school and, by extension, the Ghana Education Service, redirecting funds towards essential educational resources,” she added.
Solar power, increasingly recognized for its affordability and environmental benefits, stands as a viable solution for Ghana’s educational sector and its broader climate goals. With abundant sunshine year-round, Ghana is ideally positioned to harness solar energy, reducing the financial burden on public resources while contributing to global carbon reduction efforts.
The project was completed in January 2024 after a 1-month testing phase. The year group eagerly anticipate the handover ceremony at the 78th Speech and Prize-Giving Day of Holy Child School in Cape Coast on Saturday, 9th March 2024 marking a significant milestone in their commitment to sustainable development and quality education in Ghana.
This initiative not only lights the way for other schools grappling with similar challenges but also underscores the powerful impact of alumni engagement in shaping a brighter future for the next generation.