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GHANA, NORTH RHINE-WESTPHALIA SIGN AGREEMENT FOR CO-OPERATION IN SEVEN (7) SECTORS

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26th August 2021
For Immediate Release

GHANA, NORTH RHINE-WESTPHALIA SIGN AGREEMENT FOR CO-OPERATION IN SEVEN (7) SECTORS

The Governments of the Republic of Ghana and the State of North Rhine-Westphalia, on Wednesday, 25th August 2021, signed an agreement to deepen the ties of co-operation between the two territories in seven (7) specific areas of co-operation.

The areas, as contained in the agreement, include “non-governmental, not-for-profit, and private-sector organisations; diaspora organisations; religious organisations of all denominations; business corporations; local councils; educational establishments; and GIZ development agency.”

The Agreement, which was signed by Ghana’s Minister for Foreign Affairs, Hon. Shirley Ayorkor Botchway, and the Minister-President for North Rhine-Westphalia, Armin Laschet, is guided and informed by the principles and goals set out in the United Nations’ Agenda 2030 and the Agenda 2063 of the African Union.

Indeed, “as part of the G20 Compact with Africa, Ghana and Germany signed a reform-oriented partnership designed to promote joint, African-style development projects involving public and private players. This partnership has provided the framework for cooperation between Ghana and North Rhine-Westphalia.”

According to the statement, “Both sides seek to intensify, at governmental and civil-service level, a dialogue that has already proven effective and productive and to foster exchanges between local communities and local-authority institutions. Both sides welcome and support cooperation between non-governmental organisations (NGOs), churches and not-for-profit organisations from both countries.”

Additionally, Ghana and North Rhine-Westphalia will support collaboration between colleges of Higher Education, particularly with regard to the universities of applied sciences and technical universities newly established by the Ghanaian government. Activities will centre on measures to enhance the organisation and profile of the new universities of applied sciences and assist in the creation of courses focusing on practice over theory.

The two sides will also consider training, the promotion of business and job creation in growth sectors to be essential fields of cooperation.

“Companies from North Rhine-Westphalia are to be notified of opportunities afforded by the Ghanaian market, whilst the benefits of collaboration with North Rhine-Westphalia are to be better advocated in Ghana. The international competitiveness of Ghanaian companies should be improved. The partnership also aims to foster discussion and mutual exchange on the subjects of entrepreneurship, start-up support and the realisation of new labour-market potential,” the statement added.
The Protection of resources and sustainable business practices remain important goals of the partnership between both sides, with the agreement stressing that “these can also be pursued and achieved as part of joint educational and training initiatives and through additional funding for social and technological innovation”.

The two sides further reiterated their commitment to “trusting cooperation when it comes to managing migration”, together with expanding their interaction in the health sector, “for instance as joint partners in a clinic initiative and by providing funding for health projects run by civil-society groups”.

On matters relating to enhancing collaboration between tax authorities of the two sides, “the sides jointly decide to continue and enhance collaboration between their tax authorities in matters relating to the decentralisation of the Ghana Revenue Authority, the steady flow of tax revenue and general good governance”.

Academy of International Affairs
Speaking at the opening of the North Rhine-Westphalia Academy for International Affairs, whose core purpose is to foster research at the highest level and promote the growth of international and interdisciplinary networks, President stated that the importance of the work to be undertaken by the Academy has been heightened by the onset of COVID-19, which has highlighted the importance of international co-operation.

“For us, in Africa, what the pandemic has taught us is that it is in the mutual interest of Africa and Europe to forge relationships that will guarantee shared prosperity for us all, as we are bound by close ties of geography and history. In as much as Africans need to move away from the mindset of dependence and aid, Europeans, likewise, must abandon the mentality of “charity to the poor Africans”, that has tended to shape their relationships with Africa”, the President said.

He continued, “The time has come for Europe and Africa to establish a sustainable, strategic partnership based on trade and investment co-operation. We have set our sights high, and, to our friends in Europe, I urge you to join us in building a continent of prosperity with equal opportunities for all, which will safeguard the environment against climate change”.

President Akufo-Addo explained that a very important plank expected from an AU-EU strategic partnership for shared prosperity would be the EU’s strong support to the African Continental Free Trade Area (AfCFTA), whose Secretariat Ghana is privileged to host.

With the AfCFTA linking fifty-four (54) markets, covering 1.2 billion people, into a single market, he told the gathering in Bonn that the AfCFTA is the world’s largest free trade area outside of the World Trade Organisation (WTO) itsel, adding that, by 2050, it will cover an estimated 2.5 billion people, and have over a quarter of the world’s working age population.

“Imagine the investment and business opportunities offered by the infrastructure required to link these markets more effectively. And imagine the business opportunities that this huge market would offer for manufacturing and service firms from European countries that would establish production facilities in Africa to serve the African markets. And with the accelerated growth that would result from all these, the market opportunities for exporters from European countries could be truly amazing!” he added.

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Accomplished Diaspora Entrepreneur and Philanthropist Chairs GIPC BOARD

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Accomplished Diaspora Entrepreneur and Philanthropist Chairs GIPC BOARD

Entrepreneur, Philanthropist and Executive Chairman of KGL Group, Mr. Alex Apau Dadey, has been conferred the board chairman of the Ghana Investment Promotion Centre, GIPC. This comes off after he was in January 2018, appointed onto the Governing Board of the Ghana Investment Promotion Centre (GIPC) by the President of Ghana, His Excellency Nana Addo Dankwa Akufo-Addo, in recognition of his contribution towards the promotion of investment in Ghana.

Mr. Alex Apau Dadey has over 30 years’ experience working across multiple industries and sectors such as Fintech, Logistics, Agric, Property Development and Commerce around the globe, with major focus of his practice in the United Kingdom and Ghana.

As part of his responsibilities as Board Chair, he will be responsible for leading the Board and focusing on strategic matters, play a pivotal role in overseeing the Centre’s business as well as setting high governance standards.

Most recently, Alex Dadey established the KGL Group – a wholly owned Ghanaian group, consisting of six subsidiaries operating in several jurisdictions and multiple sectors including Fintech, Logistics, Agric, Property Development and Commerce, where he serves as Executive Chairman.

Underpinning Alex’s three-decade track record of success is his commitment to building an inclusive financial environment that provides high-value partnerships for small business to thrive and succeed across Ghana.

Mr. Alex Apau Dadey is married with 3 beautiful kids, a proud product of Mfantsipim School, Cape Coast, and holds a BSc. (Admin) degree from the University of Ghana Business School, Legon.

Alex’s formative career began in the United Kingdom in 1986 where he progressively moved up the ranks from Export Sales Supervisor to Export Sales Director at the Gordon Richman Textiles Limited overseeing key accounts in ten countries spread across Europe, Middle East and Africa.

In 2001, Alex set up a joint venture – Qualitexx Limited, with DCD Finance Group PLC., based in the city of London. As Executive Director, he was instrumental in developing the company’s trade finance and venture capital businesses across the globe. This included providing financing for several local Ghanaian businesses through the DCD Finance Group. Since then, Alex has become renowned as a strong advocate for the inclusion of the Ghanaian diaspora in the political and socio-economic transformation of Ghana.

He functions in various c-suite capacities and serves on boards of multiple institutions including Ecom Agro Industrial, Premier Textiles Group in the United Kingdom, Birchfield Investments Limited in Jersey, Channel Islands and Dubai, KGL Capital (UK) Limited and Dominion Direct (UK) Limited to name a few.

He is credited with initiating the Ghana Diaspora Homecoming Summit in 2017 and the Ghana Investment and Opportunities Summit UK in 2018, both of which are now held biennially.

Among his many achievements, the ones that stand out are.

*Excellence in Organizational Leadership*, 2017, awarded by the Ghana Diaspora Homecoming Summit Committee for the successful Execution of the Ghana Diaspora Homecoming Summit.

*Diaspora African Forum Excellence Award*, 2017, awarded at the Ghana Diaspora Summit for his prominent role in ensuring a successful summit.

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Take Advantage Of Ghana’s Business-Friendly Climate  – President Akufo-Addo To Norwegian Business Community 

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Take Advantage Of Ghana’s Business-Friendly Climate  – President Akufo-Addo To Norwegian Business Community

The President of the Republic, Nana Addo Dankwa Akufo-Addo, has urged the business community from Norway to take advantage of the business-friendly climate currently existing in Ghana, and invest in the country.

According to President Akufo-Addo, “We will continue to create and maintain the conducive investment environment that not only guarantees the safety of investments, but good returns as well. We will continue to protect legitimate investments, and preserve the atmosphere of peace, stability and security that has been an important contributor to the increasing presence of Norwegian businesses in Ghana.”

Speaking at the Ghana-Norway Business Forum, held on Friday, 26th November 2021, at the Kempinski Hotel, the President stated his government has, over the last four (4) years, done a lot of work in correcting the fundamentals of the economy which were all pointing in the wrong direction when he took office in 2017.

“We have, over the period, put in place measures needed to reduce the cost of doing business, improve the business environment, and made the Ghanaian economy not only one of the most business-friendly economies in Africa, but also one of the fastest growing economies in the world between 2017 and 2020, averaging annual GDP growth rates of 7% for those years, up from the 3.4% GDP growth rate we inherited from the previous government in 2016,” he said.

With COVID-19 wreaking havoc on economies the world over, President Akufo-Addo reassured that Government is “working to grow the economy at a much faster rate this year, which will enhance the prospects of a win-win environment for both private sector and country; an environment where companies do not just survive, but actually thrive.”

The major programme driving the revival and revitalization of the Ghanaian economy, he said, is the one hundred-billion-cedi (GH¢100 billion) Ghana CARES ‘Obaatampa’ Programme, whose main elements include supporting commercial farming and attracting educated youth into commercial farming; building the country’s light manufacturing sector; developing engineering/machine tools and ICT/digital economy industries; amongst others.

“It continues to be an exciting time to be in Ghana, and to do business in the country. Already, global car manufacturing giants, Toyota and Nissan of Japan, Sinotruk of China, have established assembly plants in the country, as first steps towards the production of vehicles in Ghana,” he said.

President Akufo-Addo continued, “Twitter is establishing its African Headquarters in Ghana, and Google’s first African Artificial Intelligence Centre is located in Ghana. We are privileged to play host to the Secretariat of the African Continental Free Trade Area, which represents, currently, a market of some 1.2 billion people, spread over fifty-four (54) countries, with a combined GDP of $3 trillion. Trading in the emerging single market began on 1st January this year”.

With Ghana witnessing a significant rise in interest from Norwegian investors, in several sectors of the economy, including agriculture, building and construction, general trading, manufacturing, oil and gas, and tourism, President Akufo-Addo commended some of his government’s flagship policies to them.

“Government is also embarking on an aggressive public private partnership programme to attract investment in the development of both our road and railway infrastructure. We are hopeful that, with solid private sector participation, we can develop a modern railway network with strong production centre linkages and with the potential to connect us to our neighbours,” he said.

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KGL Group Fully Committed to Delivering Value in Excess of GHc100Milllion Per Annum to the National Economy and Government

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KGL Group Fully Committed to Delivering Value in Excess of GHc100Milllion Per Annum to the National Economy and Government

The successful operations of KGL Group and its subsidiary companies, KGL Technology Limited, KEED and KGL Foundation, are set to contribute significantly to the national economy and Government of Ghana at an expected cumulative value in excess of 100 million Ghana Cedis per annum.

KGL Group has contributed significantly to revenue growth and capacity development across its operations in the lottery industry, collaborations with the Ministry of Youth and Sports, Ghana Football Association and social intervention programs under its CSR wing, the KGL Foundation.

The Group is set to continue its value creation drive across its ecosystem of strategic partners and envisages a total value of 100million Ghana Cedis per annum to be committed.

The key levers to guide the allocation of funds by KGL Group in concert with strategic partners and to the national economy are as follows:

1. Growth in the contribution of Corporate Taxes and other taxes to the Ghana Revenue Authority (GRA) and the Government of Ghana.

2. Value within the lottery industry from:

a. Digital lotto marketer licensing and operational fees to the National Lottery Authority (NLA) in accordance with the ongoing review of license and operational terms and conditions for KGL Technology Limited.

b. Payments to the Stabilization Fund that seeks to provide support to revenue shortfalls of the Lotto Marketing Companies as a result of the digitalization policy of NLA-KGL Technology Limited.

c. Seed capital to set up a Pension Scheme for the Lotto Marketing Companies which is currently non-existent.

3. Undertaking of Corporate Social Responsibility activities in the areas of Education, Healthcare Delivery, Sports Development, Culture, and Tourism.

4. Growing investments in the media ecosystem and the entire value chain of marketing and advertising.

In the case of the lottery industry, this announcement is singularly one of the most profitable agreements the National Lottery Authority (NLA) has brokered considering zero investment made by the Authority towards infrastructure set up and operations of KGL Technology encompassing setting up the entire architecture to run digital lottery operations on the *959# Short Code and 5/90 mobile App under consumer brand name 590Mobile by KGL’s KEED subsidiary.

To put this in context, NLA would need to generate over GHc450 million volume of gross sales at Point-of-Sale Terminals per annum for the Authority to be able to accumulate a net profit of GHc50 million which will now be delivered at no cost by KGL Technology to the Authority pursuant to reviewed agreement.

This makes the current terms of the agreement between KGL Technology Limited and the National Lottery Authority (NLA) under review by the current Board definitely a game-changer for the revenue mobilization efforts of the National Lottery Authority (NLA), Lotto Marketing Companies, and the Government of Ghana as a whole.

KGL Technology Limited since its inception has contributed significantly to the fortunes of the National Lottery Authority (NLA) and the national economy.

In the area of sports development, the KGL Group has also partnered with the Ministry of Youth and Sports, the Ghana Football Association, and the Senior National Team, the Black Stars ahead of the AFCON and 2022 World Cup Campaigns. Besides this collaborative project, KGL Group recently also committed significant financial resources to the Ghana Football Association for the development of Juvenile Football for a strategic period of 5 years.

KGL Group through its KGL Foundation has equally supported several Charity Organizations, Cultural and social-economic activities across the Country.

KGL Technology Limited has at all material times honored its tax obligations to the Ghana Revenue Authority (GRA) and Government of Ghana and as a responsible corporate citizen, KGL Technology Limited reiterates its full commitment to the revenue mobilization efforts of the National Lottery Authority (NLA) and Government of Ghana, thereby contributing significantly to the Nation’s development agenda.

Issued by: Management of KGL Group

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