TDC Ghana Ltd declares GH¢3m dividend to govt (Graphic Business, Tuesday, November5, 2024 Page 8)

 

TDC Ghana Ltd has declared a total dividend of GH¢3 million to the government for the 2023 financial year.

The Chairman of the Board of the company, Kofi Brako, announced this at the Fourth Annual General Meeting (AGM) of the company

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The declaration of the dividend follows an impressive financial perfomance, which saw shareholder's fund grow by 19.9%  from GH¢378.2 million in 2022 to GH¢453.47 million in 2023.

Return on equity for the same period was 12.1%, compared to 9.9% recorded in 2022.

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Mr Brako said he was optimistic that the growth would continue to boost shareholder confidence in the company's performance and prospects for the future.

Urban redevelopment

He said the company's in-filling project at Tema Community 1 site Three was progressing, stressing that phase three of the project designed to provide 40 units of two-bedroom apartments was scheduled to commence soon.

Mr Brako commended the management of TDC for its outstanding performance during the year under review and for winning seven prestigious awards, including the most consistent dividend-paying state-owned enterprise for the year 2023 in the public enterprises league table, as well as the best internal Audit Unit state-owned enterprise category for the year 2023.

Strides

The Managing Director of TDC Ghana Ltd, Alice Abena Ofori-Atta, in a report, said the consistent depreciation of the cedi against major foreign currencies throughout the year remained one of the major constraints to real estate development for property developers and prospective homeowners.

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That notwithstanding, she said the company persevered and sustained transformation and growth in its business operations.

She said TDC currently had several ongoing projects, adding that the pilot phase of the nationwide mortgage financing programme aimed at reducing the housing deficit and providing affordable housing for low-to-middle –to middle-income earners at Community 22 in collaboration with the National Homeownership Fund had been completed.

Ms Ofori-Atta said 405 of such housing units made up of one, two and three-bedroom apartments and townhouses had been completed with works currently ongoing under phase three of that project to deliver a total of 123 two and three-bedroom apartments and six detached three-bedroom townhouses, expected to be completed by December 2024.

She said in line with TDC’s new mandate of extending to other parts of the country, the company in collaboration with the National Homeownership Fund, has initiated the construction of detached houses, roads and infrastructure at Manya-Jorpanya in the Shai-Osudoku District with the first set of 50 two and four-bedroom houses 
expected to be completed in November this year.

Consistency

The Minister of Public Enterprises, Joseph Cudjoe, said TDC Ghana Ltd has consistently proven to be profitable and had thus laid a foundation for a kickoff in the housing sector.

He urged the management of the company to explore opportunities that exist in the capital market by leveraging their expertise to attract private and corporate partners to create wealth.

He also urged the board and management to explore new business lines such as property management and quantity surveying services with the resources and expertise at their disposal to generate more revenue.

Stock exchange

The Acting Director General of the State Interests and Governance Authority (SIGA), John Boadu, commended the TDC for its outstanding performance during the year under review, adding that based on the solid foundations laid by the company, the government was prepared to reduce its stake (shares) to enable the Ghanaian citizens to be part of the TDC’s transformative and excellent performing state-owned enterprise status via the stock exchange.

The Minister of Works and Housing, Kojo Oppong Nkrumah, in a speech read on his behalf by the Chief Director of the ministry, Reverend Stephen Yaw Osei, urged TDC to adopt sustainable building practices by increasing the use of locally sourced materials to help reduce the reliance of imported resources and also open up avenues for accessing green financing, a move that aligns with the national sustainability goals.

Writer’s email: Benjamin.glover@graphic.com.gh

 

via: https://www.graphic.com.gh/business/business-news/tdc-ghana-ltd-declares-ghc3m-dividend-to-govt.html

Vision Fc, Aduana settle for a goalless draw (Daily Graphic, Monday, Movember 4, 2024. Back Page)

 

Kpong Irrigation scheme rehabilitation Phase 2 project takes off (Daily Graphic, Saturday, October 26, 2024 Page 24)

 

The second phase of the project to refurbish the Kpong Irrigation Scheme (KIS) has begun, three years after the first phase of the works was completed. 

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The second phase aims to offer access to irrigation water to smallholder farmers, private commercial farmers and other stakeholders.

The works include rehabilitation of irrigation and drainage infrastructure, installation of instrumentation and automation equipment for enhanced water delivery and management as well as rehabilitation of road networks in areas around Akuse and Asutsuare in the Eastern and Greater Accra regions, respectively. 

It is part of the $22.6 million West Africa Food System Resilience Programme (FSRP), a World Bank-funded initiative, with technical supervision from the Ghana Irrigation Development Authority (GIDA). 

The first phase was completed under the Ghana Commercial Agriculture Project (GCAP) between 2017 and 2021, covering 4000 hectares. 

The project is expected to ensure full operationalisation with improved water use efficiency for the remaining 931 hectares of farming area, increasing crop production and food security.

Dr  Ashwini Sebastian, Senior Agriculture Economist of World Bank Ghana and Task Team Leader of FSRP, speaking at the event

Sod-cutting 

Speaking at the sod-cutting ceremony last Thursday at Akuse, on behalf of the Sector Minister, Bryan Acheampong, the Deputy Minister of Food and Agriculture (MoFA) in charge of Crops, Yaw Frimpong Addo, said the project demonstrated the government’s commitment to building the resilience of food production and delivery systems across the country.

He said in addition to physical infrastructural developments, the government was facilitating enhanced value chain activities under the Planting for Food and Jobs( PFJ 2.0 ) using the input credit system linked to aggregator, anchor farmer - smallholder arrangement for technology dissemination and market access. 

Collaboration 

The Senior Agriculture Economist of the World Bank Ghana and Task Team Leader of FSRP, Dr  Ashwini Sebastian, on behalf of the World Bank Country Director for Ghana, Liberia, and Sierra Leone, Robert Taliercio, said irrigation was just one phase of the agricultural value chain.

She underscored the importance of irrigation but indicated that in Ghana only three per cent of cultivated land was under irrigation

She said under FSRP, the World Bank would be supporting other value chain interventions, including the use of climate-smart seeds, adoption of innovative agricultural practices and marketing integration, among other interventions.

Yaw Frimpong Addo, Deputy Minister of Food and Agriculture in charge of Crops, speaking at the event

In his welcoming address, the acting Chief Executive Officer of the Ghana Irrigation Development Authority (GIDA), Richard Oppong Boateng, said as was the experience in recent times, Ghana and the rest of the world were being impacted greatly by climate change. 

He said while river systems had been affected with unexpected drought, excessive floods had also destroyed farmlands and other livelihoods of farmers.

Mr Boateng said these shocks called for the need to build resilience to mitigate the shocks relating to water resource used for agriculture, livestock watering and aquaculture development. 

This, he said, could be achieved if the irrigation sub-sector of agriculture was given the needed attention as it was the tool for green revolution and the game changer for agricultural transformation.

Writer's email: benjamin.glover@graphic.com.gh

via: https://www.graphic.com.gh/news/general-news/kpong-irrigation-scheme-rehabilitation-phase-2-project-takes-off.html

Shipping lines in Ghana operate within the law – SOAAG (Daily Graphic, Saturday, October 12, 2024 Page 28)

 

The Ship Owners and Agents Association of Ghana (SOAAG) has refuted claims that shipping lines operating in Ghana are engaged in exploitative practices and charging arbitrary fees.

The association stressed that the shipping industry was guided by international laws and its members conduct their businesses in full compliance with the laws of every country in which they operated, including Ghana.

Speaking to journalists in Tema, an executive member of SOAAG, Adam Imoru Ayarna stated: “In shipping, when a shipper approaches a shipping line, there's a dialogue, an offer, and conditions that are agreed upon. These include local administrative charges and freight costs, which are always stated from the onset," he said, adding: “If any stakeholder does not understand the charges, they could seek clarification.” 

He was reacting to allegations by some stakeholders in the industry that ship owners and agents were operating outside the rules of operations. 

Members of the Ghana Institute of Freight Forwarders (GIFF), the Association of Customs House Agents of Ghana, Freight Forwarders Association of Ghana, Customs Brokers Association of Ghana, on September 24, 2024, embarked on a protest during which they claimed the shipping lines had imposed unreasonable, unwarranted and exorbitant fees, such as local administrative charges, container cleaning fees, empty container fees and demurrage on weekends and holidays.

However, Mr Ayarna said when a shipper wanted to engage the services of shipping lines, the shipper would enter into a contract of carriage between the carrier and shipper for the transportation of the cargo, adding that this contract contained the terms and conditions to which the carrier and shipper were legally bound.

“The contract clearly included local charges at the port of origin and the port of destination, adding that these charges became part of the agreement signed by both parties.”

Demurrage

Addressing concerns related to the application of demurrage during weekends and public holidays when shipping lines and banks were closed, Mr Ayarna said such demurrage payment was avoidable if owners of containers could take advantage of online and remote services offered by the shipping lines to fast-track the release of cargo.

"It's true that demurrage is charged on weekends and holidays, but we've advised shipping lines to make provisions for remote cargo release during these times. Some shipping lines already have platforms that allow agents to release cargo offsite, even on weekends," he explained.

The Executive Secretary of SOAAG, Perpetua Osei-Bonsu, said as the umbrella body for the shipping lines in Ghana, their doors remained open to everyone, including industry players and the media, to throw light on the activities of shipping lines in Ghana and their contributions to the local economy.

 

via: https://www.graphic.com.gh/news/general-news/shipping-lines-in-ghana-operate-within-the-law-soaag.html

GES/ TVETS commemorates International Day of the Girl (Daily Graphic, Saturday, October 12, 2024 Page 16)

 

I’ll not appeal against my disqualification by EC — Janet Nabla ( Daily Graphic, Friday, October 4, 2024 Page 17)

 

A disqualified independent presidential aspirant, Janet Asana Nabla, has indicated that she will not mount any legal challenge against the Electoral Commission (EC) on the decision to axe her from the race. 

The EC removed Ms Nabla as a candidate for the December 7, 2024 presidential election because of errors in her candidacy filing papers.

The General Secretary of the People’s National Party (PNP), Sulemana Seidu, the political party of which Ms Nabla is the chairperson and leader, said in a statement he issued yesterday.

Final certificate

Mr Seidu said although the party disagreed with the grounds of disqualification, upon further consultation with its members across the country, the party had decided not to contest the EC’s decision and rather concentrate on receiving its final certificate to enable it to operate as a full fledge political party.

He said PNP as a political party’s existence was not limited to contesting elections but rather educating citizens to help them make an informed decision about political issues, government policies and their impact on the society.

Mr Seidu said the PNP would continue to hold the government of the day accountable by reviewing policies, proposing alternatives and ensuring transparency.

“We, therefore, appeal to our teaming followers to remain resolute as we come out with a direction on the way to go, come December 7, 2024. 

Background

Ms Nabla was among the 11 aspirants whose candidacy were rejected by the EC for various reasons, including incomplete filling of the forms, using voters in a particular district to represent another district, repeating voters in a particular district for another district, not having tax certificates, vice presidential candidates not having tax certificates, unsigned forms by vice presidential candidates, among others.

In the case of Janet Nabla, an independent aspirant, the EC explained that she used registration details of particular voters to support her nomination in certain districts in other districts.

The EC said the vice presidential candidate did not sign the forms, adding that the issues were not resolved hence her disqualification.  

via: https://www.graphic.com.gh/news/politics/ghna-news-ill-not-appeal-against-my-disqualification-by-ec-janet-nabla.html

Community 25 Rotary Club, others present 1,000 books to Tema schools (Daily Graphic, Monday, September 30, 2024 Page 23)

 

The Rotary Club of Tema Community 25, in collaboration with the Rotaract Club of Tema Meridian Chint Ghana, and Inquiring Minds Bookstore, has donated 1,000 different kinds of reading books to three basic schools in the Tema Metropolis. 

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Members of the philanthropic organisations also engaged the learners in various reading activities and on lessons learnt from some of the books they read.

Under a project dubbed “Empowering Young Minds” the gesture was aimed at improving the reading skills and learning outcomes of learners in the beneficiary schools, namely the Tema Manhean TMA Basic 1 and 2 Schools and the Manhean Community Primary School. 

Speaking at a ceremony in the Tema Manhean TMA Basic Cluster of Schools last Friday, the President of the Rotary Club of Tema Community 25, Prince Kwame Afetor, said as a philanthropic organisation, the Rotary Club brings together people across generations who wish to create lasting change in the world, in their communities, and in themselves.

Saying that was what informed the selection of the three schools, he said the project hopes to help the young learners read, learn and achieve their aspirations.  

He said one of their goals was to strengthen the capacity of communities to support basic education and literacy, and he was optimistic that the new found partnership with the Tema Manhean TMA Basic Cluster of Schools would impact positively on the over 1,200 learners in the beneficiary schools. 

Ability  

Assistant Governor of Rotary International District 9104, Joseph Dzamasi, expressed the hope that the reading project would significantly improve the reading ability of the learners and also help the learners build their vocabulary, expression, writing skills, and develop their analytical and critical thinking skills.

“Reading opens the mind to incredible possibilities,” he said, and called on parents and teachers to read more and be effective role models for their children in developing the reading habit of their wards from an early age.

The Rotarian in charge of the Back to School Project, Kingsley Ameko Letsa, said reading plays a critical role in education, hence, together with their implementing partners, Rotaract Club of Tema Meridian Chint Ghana, and Inquiring Minds Bookstore, they intend to adopt the schools, mentor them to improve their reading skills and the overall performance of the learners.

The Head of Human Resource at the Tema Metropolitan Education Directorate, Agartha Adrah, on behalf of the Metro Director of Education, Bernice Ofori, expressed appreciation to the philanthropic organisations for their gesture and urged them to sustain the bond between them and the Education Directorate in Tema, to improve overall performance of the learners.  

The Headmistress of Manhean Community Primary School, Frances Aboagye, commended the donors and gave the assurance that the books would be put to good use. 

Writer’s email: Benjamin.glover@graphic.com.gh

Number Crunch 

Reading books of varying titles totaling 1,000, have been presented to the Tema Manhean TMA Basic Cluster of Schools by the Rotary Club of Community 25, Tema.

 

via: https://www.graphic.com.gh/news/general-news/ghana-news-community-25-rotary-club-others-present-1-000-books-to-tema-schools.html