Business 24 Newspaper I 7 July 25

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ECG to roll out 3m smart meters by 2029 to cut losses

The Minister for Energy and Green Transition, Hon. John Jinapor, has announced that the Electricity Company of Ghana (ECG) plans to install 3 million additional meters between 2025 and 2029 to curb power theft, enhance billing accuracy, and improve revenue collection.

The initiative includes a 2-million-meter deployment with an additional 1 million meters being rolled out in collaboration with the World Bank.

Smart meter deployment and revenue reforms

Appearing before Parliament to respond to questions on illegal

electricity connections and revenue recovery, the Minister disclosed that:

ECG has already installed about 1.2 million smart meter management systems as of April 2025.

An ongoing loss reduction programme includes: Replacing obsolete and faulty meters,Installing new service connections and rerouting concealed service lines.

Implementing smart meter technologies for real-time billing

1 million smart meters have already been deployed under the reform programme. “These smart meters

provide instant data to help reduce losses and improve accuracy in billing,” the Minister noted.

Improved Monitoring and Institutional Reforms

Mr. Jinapor emphasized that:

ECG has been given new Key Performance Indicators (KPIs).

Cabinet has directed that all state institutions must switch to prepaid meters or establish monthly billing and payment agreements with ECG.

Only four categories Presidency, Police, Military, Education and Health institutions are exempt

from prepaid metering but are still required to pay for power consumption.

Addressing Power Theft and Meter Fraud

The Minister acknowledged widespread illegal meter installation and power theft. To address this, he said:

Several estates have recently been busted, with cases now before the courts.

A new Legislative Instrument (L.I.) is being drafted to introduce stiffer penalties for individuals caught selling or illegally installing ECG meters.

ECG has constituted special task forces to identify and prosecute offenders.

“We are working with Parliament to pass laws that make penalties severe enough to serve as a deterrent,” he stated.

Revenue Performance and Outlook

ECG has so far raised 1.6 billion in revenue this year, though the target was 2.5 billion.

However, Mr. Jinapor highlighted a year-on-year improvement compared to the same period in 2024.

“We are confident that these reforms will significantly improve revenue collection, reduce losses, and bring greater efficiency to Ghana’s electricity sector,” he concluded.

Modi says India's priorities aligned with Africa’s goals

reaffirmed India’s commitment to growing in partnership with Africa, emphasizing that Africa’s development goals are a top priority for his government.

Speaking before Ghana’s Parliament during his two-day official visit, Mr. Modi stated:

“Africa’s goals are our priorities. Our approach is to grow together as equals. We support Africa’s Agenda 2063 to secure a bright and sustainable future for its people.”

Expanding India–Africa Relations India has expanded its

Africa and currently supports over 200 development projects across the continent. These span areas such as connectivity, infrastructure, and industrial capacity, with more initiatives planned annually.

“India is today the fastest-growing emerging economy, built on the foundations of stable politics and good governance,” he added.

Ghana–India Partnership

Highlighting the success of bilateral cooperation, Mr. Modi cited the Tema–Mpakadan railway line, inaugurated last year, as a major

“It is the largest infrastructure project in this part of Africa.”

He also praised Ghana’s leadership in promoting economic integration under the African Continental Free Trade Area (AfCFTA) and noted its potential to become an IT and innovation hub in the region.

India’s Development Philosophy

Mr. Modi emphasized that India’s engagement with Africa is demand-driven, focusing on building local capacities and creating self-sustaining ecosystems.

“Our objective is not just to invest, but to empower,” he said. “It is my honour to give further momentum to this partnership.”

He also noted that the India–Africa Business Conclave continues to create new investment opportunities every year.

Shared Future

In closing, Mr. Modi spoke of the enduring ties between India and Africa:

“The forces that unite us are intrinsic and greater than the superimposed influences that keep us apart. Together, we will shape a future full of promise and progress.”

Azumah Resources to commence construction of the Black Volta Gold Mine

Azumah Resources

Ghana Limited is proud to announce the official commencement of con-struction of the Black Volta Gold Mine in the Upper West Region of Ghana. This milestone marks the beginning of a new era for Ghana’s mining sector. Since inception, Azumah Re-sources has been solely led by Ghanaians and backed by committed local and international in-vestors.

Following the successful securing of project financing from Azumah Resources existing share-holders, Azumah Resources has initiated preparatory works on site and will now proceed with full-scale development activities, including infrastructure, civil works, and recruitment. Azumah Resources is working closely with the Ministry of Lands and Natural Resources and the Minerals Commission to ensure all regulatory authorizations are in place for seamless execu-tion.

Prof. Prince Ofori Amponsah, Country Lead, Azumah Re-

sources commented on the an-nouncement that: "This is an incredibly exciting time for Azumah Resources Ghana Limited. Having consulted and led exploration activities for several years from our Kalsegra site in Ghana's Upper West Region, my team and I are thrilled to see all our hard work come to frui-tion. We are extremely excited that now that we are moving into the project development and mine construction phases, this will create direct and indirect jobs for both local communities and Ghanaians at large. I would like to extend our sincere thanks to the Government of Gha-na, the Ministry of Lands, the Minerals Commission, the EPA, and all the other state agencies that have supported us in achieving this significant milestone."

Rob Ciccini, Project Director of Azumah Resources, said: “We are extremely pleased that our existing shareholders have reconfirmed their long-term commitment to Ghana and the con-struction of the Black Volta Project. Since terminating our agreement with Engineers & Plan-ners Co. Limited, we have worked closely with our

shareholders, the Government of Ghana, the Ministry of Lands and Natural Resources and the Minerals Commission to ensure the con-tinued success of the Black Volta Project. Those efforts mean that we are now in the position to make today’s announcement and to proceed with construction at pace without E&P.”

The Black Volta Gold Mine is expected to deliver significant socio-economic benefits to the Upper West Region and Ghana at large. Over 1,000 jobs will be created during the con-struction phase, with hundreds of additional permanent jobs to follow once operations com-mence. Azumah Resources is committed to partnering with local communities, ensuring that they will benefit from direct skilled employment and opportunities in logistics, catering, agriculture, power generation, and fuel supply. This commitment aims at creating a ripple effect of de-velopment across the region.

The Construction of the Black Volta Project was scheduled to begin in July 2024, but was de-layed due to a failure

by Engineers & Planners (E&P) to complete the contracted civil works and spurious legal actions filed by E&P. These actions, including commencing an ICC arbitra-tion and interfering with Azumah’s operations, disrupted timelines and caused avoidable set-backs to this critical national project. Despite these challenges, Azumah Resources has demon-strated resilience and unwavering commitment to delivering the Black Volta Project in the inter-est of the Ghanaian people.

Azumah Resources is deeply grateful to the Government of Ghana, the Ministry of Lands and Natural Resources, the Minerals Commission, traditional authorities, and local stakeholders for their ongoing support. We are excited to move forward and deliver this transformative project. Mr. Ciccini commented: “We’re not just building a mine we’re building sustainable liveli-hoods and supporting national development through responsible, indigenous mining.” A formal groundbreaking ceremony will be announced in due course in collaboration with the Ministry.

Structured financing is key to unlocking agriculture’s potential: Absa’s William Nettey

sector continues to face headwinds, from fluctuating global prices to unpredictable weather patterns. However, according to Mr William Nettey, Head of Agribusiness at Absa Bank Ghana LTD, agriculture remains one of the country’s most promising and bankable sectors.

Speaking during the 2025 Citi Business Festival, sponsored by Absa Bank, Mr Nettey made a strong case for structured agricultural financing. He emphasised that banks are not merely lenders, but development partners committed to enabling growth across the entire agricultural

“Challenges will always exist, but so will solutions. At Absa Bank, our commitment is to help change stories and create opportunities where it matters most,” he stated.

Reflecting on developments in the sector over the past year, Mr Nettey described a mixed picture. Commodity price volatility affected producers of crops such as soya and maize, while a prolonged dry spell led to lower yields and increased reliance on imports. Even so, he cautioned against writing the sector off.

“We have seen both wins and losses. The challenge is not in whether agriculture is viable, but in how we

plan for its risks,” he noted. “Absa Bank does not focus solely on producers. We finance the full agricultural value chain, from input suppliers to processors and exporters.”

According to Mr Nettey, this includes aggregators who consolidate outputs from smallholder farmers, a group that forms the backbone of Ghana’s farming economy. Through partnerships with value chain actors, including input dealers and logistics providers, the bank expands its reach to underserved communities.

Absa Bank’s Agribusiness strategy is intentionally inclusive, with dedicated support for women, young entrepreneurs, and agribusinesses operating in northern Ghana. Over the past five years, the bank has disbursed more than GHS 130 million in financing to women-led and youth-led enterprises. While agricultural lending is often perceived as high-risk, Mr Nettey challenged that assumption. “Agriculture is not as risky as people think. With proper understanding and timing, we have had very low defaults

investing in farming.” He illustrated this point with the story of a client who began with a facility of GHS 200,000 and has since expanded their operations to qualify for more than GHS 8 million in financing from the bank. Even where challenges arise, such as global price shifts or currency fluctuations, the bank adopts a proactive approach. Mr Nettey explained that Absa Bank closely monitors its agribusiness clients and is prepared to restructure facilities when necessary to support continuity.

Documentation, he added, remains a persistent barrier to finance. Many agribusiness owners concentrate on operations while neglecting record-keeping. In response, Absa Bank partners with clients to improve financial documentation and deploys business advisers to help them strengthen their operations and scale sustainably.

For Mr Nettey, the message to agribusiness entrepreneurs is simple: agriculture is bankable, but only when approached with structure, strategy, and strong partnerships.

GIPC CEO backs deployment of investment officers in district

Investment Promotion Centre (GIPC), Mr. Simon Madjie, has expressed support for a proposal by the Volta Regional Minister, Mr. James Gunu, for the appointment of dedicated investment desk officers within Metropolitan, Municipal, and District Assemblies (MMDAs).

The proposal, aimed at strengthening investment facilitation and promoting

during a courtesy call by Mr. Gunu to the GIPC in Accra.

Mr. Madjie described the initiative as a positive step towards enhancing coordination between central investment agencies and local government structures.

He noted that the presence of investment officers at the district level would improve responsiveness to investor needs and help identify viable local investment

He said the GIPC remains committed to advancing regional investment efforts through initiatives such as the Regional Investment Forum, investment opportunity mapping, and the gradual expansion of GIPC operations to all parts of the country.

Mr. Gunu also extended an official invitation to the GIPC CEO to participate in the upcoming Volta Regional Co-

The meeting will provide a platform for dialogue on investment promotion and private sector engagement in the region.

Mr. Madjie welcomed the invitation and reaffirmed the Centre’s readiness to collaborate with regional authorities to attract investment and promote inclusive economic growth across Ghana.

Diageo to sell Guinness Ghana stake to Castel for $81 mln

Castel Group has officially taken over majority ownership of Guinness Ghana Breweries PLC (GGB PLC) following the successful completion of its $81 million acquisition of Diageo’s 80.4 per cent stake in the company.

The strategic transaction, which received final regulatory approval last week, marks a shift in Ghana’s beverage industry and further deepens Castel’s footprint across Africa.

The deal, announced on July 3, 2025, was described by both parties as a transformative partnership that reflects a shared ambition to grow the Guinness brand and enhance Guinness Ghana’s long-term role in the country’s economy.

Under the agreement, Castel now assumes operational leadership of Guinness Ghana, leveraging its extensive distribution network and regional expertise. However, Diageo retains ownership of key brands such as Guinness, Malta Guinness, Orijin, Smirnoff Ice, and Alvaro. These will continue to be brewed and distributed in Ghana under a long-term licensing

and royalty arrangement with Castel.

This transition affirms Castel’s belief in Ghana’s long-term economic potential. With our heritage and extensive distribution network, we are committed to enhancing Guinness Ghana’s operations and building on its strong foundation,” said Gregory Clerc, Castel Group CEO. “Ghana is now Castel’s 22nd market in Africa, and we are proud to deepen our footprint with this acquisition.”

The acquisition follows Diageo’s broader strategy of adopting a flexible, asset-light operating model in its beer segment. This approach enables the company to focus more on brand building and innovation, while relying on regional partners like Castel for local manufacturing and distribution scale.

Dayalan Nayager, Presi-

dent of Diageo Africa, noted, “Guinness Ghana is performing strongly powered by a fantastic team of people. Through this transaction, I look forward to the Guinness brand continuing to thrive and delivering further growth. I am excited to extend our partnership with Castel, a long-term partner in the region with a proven track record.”

The companies assured that there would be no disruption to operations, with Guinness Ghana continuing to function under its current structure. All employees will remain in place under existing terms, and the company will retain its listing on the Ghana Stock Exchange. Castel also pledged to uphold employee contracts and strengthen local en

“This milestone signals confidence in Ghana’s future and the enduring strength of the Guinness brand,” the joint statement read.

The deal comes on the back of Diageo’s recent divestments across Africa, including Guinness Nigeria to Tolaram and Guinness Cameroon to Castel. Diageo continues to maintain a broad presence on the continent, with operations in 34 countries through East African Breweries Limited and Diageo South West Central, and a strategic distributor network.

For Castel, this acquisition is a bold step forward. “It reflects our ability to go where we are least expected, exploring new horizons on a continent full of opportunities,” Mr Clerc added.

Hundreds receive free health screening at Telecel Foundation’s Kumasi HealthFest

the Telecel Ghana Foundation’s HealthFest initiative held at the Bantama Market as part of the company’s Ashanti Month celebrations.

Organised in conjunction with the royal media organisation, Opemsuo Radio, the general health assessment covered a wide range of checks including cervical and breast cancer, blood pressure, malaria, hepatitis B, typhoid, weight and general health consultations.

Among the services offered, 80 women received cervical cancer and breast cancer screening, resulting in three positive detections that were flagged for

tance of proactive, comprehensive health screening in a country where late-stage cancer diagnoses remain common.

“HealthFest is our commitment to providing preventive care where it’s needed most, because early detection and timely treatment can make a marked difference by saving lives,” said Rita Agyeiwaa Rockson, Head of Foundation, Sustainability and External Communications at Telecel Ghana.

In addition to the screening, 300 people were able to register, renew, or replace their National Health Insur-

cial obstacles to consistent healthcare access for low-income households.

For Ama Bonsu, a resident of Kumasi, she is full of gratitude for the free health screening and associated medication provided to treat her health challenge.

“I can’t thank Telecel Foundation enough for the health checks and medicines at no cost to me,’ she said after receiving her medical consultation.

HealthFest forms part of the Telecel Foundation’s Connected Health pillar with an intensified focus on early detection, health education, and bridging the exist-

This month, Telecel Ghana is celebrating Ashanti Month with a series of community-focused initiatives across the region aimed at deepening the telco’s connection with the people of Ashanti Region. Activities include headlining the 68th Asantehene Golf Tournament, trade activations in markets, customer visits, community shop expansion, educational donations and greening initiatives to collectively bolster sporting, economic, health and digital inclusion in the region.

Over 300 Kumasi residents received free comprehensive medical screening during HealthFest in Bantama, Kumasi

Majority Leader urges NPP to pick ‘Mama Pat’ as 2028 Running

Mate

Majority Leader

Mahama Ayariga has called on the New Patriotic Party (NPP) to consider appointing Deputy Minority Leader, Patricia Appiagyei, as its running mate for the 2028 general elections.

According to Mr. Ayariga, Ms. Appiagyei popularly known as Mama Pat brings a wealth of experience to the table and would be a smart and strategic choice as a vice-presidential candidate.

Contributing on the floor of the House, the Majority Leader said “I challenge the NPP that in the next election I dare them to also put a woman as a vice presidential candidate – and I know that Mama Pat is a strong candidate -from the Ashanti region, starting as a mayor, MP, a deputy minister and and now a deputy leader, she clearly is fit to be a running mate, from the strongest political base

of the NPP

I challenge the NPP that in the next election we want to see a woman as a running mate.”he said.

Mr Ayariga, also the Member of Parliament for Bawku Central, said the ruling National Democratic Congress (NDC) had already shown the way by appointing Professor Naana Jane Opoku-Agyemang as its running-mate and subsequently elected

as Ghana's first female Vice President, a historic feat in Ghanaian politics.

"We, the NDC, can only go forward , " he said amid cheers on the floor of Parliament on Tuesday when responding to the Minority Leader Alexander Afenyo-Markin's comments that President Mahama was not committed to gender equity.

Mr Ayariga dismissed some allegations made by the Minority Leader to the effect that only few women were ap-

! Patricia Appiagyei

pointed into ministerial positions in the Mahama-led Government.

A Pivotal Career in Parliament and Champion for Gender Equality

The Asokwa MP and Deputy Minority Leader, Patricia Appiagyei, is one of Parliament's seasoned members, having served since 2017 and currently in her fourth term. Among her notable achievements, she chaired the Gender Committee and played a key role in passing the Affirmative Action (Gender Equality) Bill, 2024, a landmark legislation aimed at ensur-

ing equal representation for women.

In the eighth Parliament, Ms. Appiagyei also served on the Appointments Committee, stepping in as vice-chair during the vetting of Supreme Court judges, including Professor Richard Frimpong Oppong and Justice Sophia Bernasko Essah. Her commitment to empowering young girls in Asokwa has led to educational initiatives that support adolescent girls in reaching their full potential.

As calls grow for her elevation in the NPP running mate race, her tenure as Deputy Major-

ity Leader in the eight parliament was seen as instrumental in strengthening the Ashanti Caucus and stabilizing the party’s base.

A Resilient Political and Cultural Leader

Ms. Appiagyei first entered Parliament in 2013, succeeding Maxwell Kofi Jumah, and has since worked tirelessly to make Asokwa a model constituency. Before joining the legislature, she made history as the first woman to serve as Mayor of the Kumasi Metropolitan Assembly from 2005 to 2009.

In 2024, Ms. Patricia Appiagyei represented President Nana Akufo-Addo at the Conference of Speakers and Presidents of African Legislatures (CoSPAL), where she delivered the keynote address. This high-profile engagement further underscored her leadership abilities and her role as an influential voice in Ghanaian and African politics.

With the New Patriotic Party seeking to regroup and reclaim power, Ms. Appiagyei’s supporters anticipate her continued rise, confident in her dedication to serve and transform her community.

National Youth Mentorship Summit 2025 empowers Ghana’s future entrepreneurs and leaders

The ongoing National Youth Mentorship Summit 2025, which began on June 21st, continues to make waves as a transformational initiative aimed at nurturing the next generation of Ghanaian leaders, entrepreneurs, and change-makers. The Summit, which has already impacted hundreds of young people through mentoring sessions, workshops, and keynote engagements, is set to conclude with a grand finale on July 12th, 2025, at the University of Ghana Business School.

Hosted by Albert Prempeh Kusi, the

visionary Founder of the Leadership Empowerment Club (now LEC Group) and the Head of Agency Development, Recruitment and Training, this summit builds on years of dedication to youth empowerment. Albert Kusi is also known for his work as the host of both the Success Africa Summit and the National Youth Mentorship Summit—platforms that continue to inspire and equip young people across the continent. This year’s edition has seen a powerful coalition of sponsors and partners, including GlicoLife, MTN, GCB Bank, Bel Aqua, Max TV, and

several other forward-thinking institutions committed to youth development. Their support has helped to elevate the summit into a national movement—bridging the gap between passion and opportunity, and empowering young people to start, build, and sustain their own businesses.

The National Youth Mentorship Summit 2025 has brought together a dynamic community of students, startup founders, young professionals, and aspiring leaders. Through high-impact mentorship, keynote addresses, panel discussions, and practical skill-building sessions, attendees are not only being inspired but also receiving the tools and strategies needed to pursue bold visions and sustainable success.

As the final leg of the summit approaches, several participants have already shared testimonies of business ideas sparked, mentorship connections made, and life-changing clarity received. The Summit

is more than a conference; it is a launchpad for personal and national transformation. Organizers are calling on stakeholders, corporate institutions, educational bodies, policymakers, and the media to recognize and support the mission of this summit: to raise a generation of bold, ethical, and enterprising young leaders for Ghana and beyond.

Samuel Elijah Boateng is a passionate leadership enthusiast, a certified member of the John C. Maxwell Leadership and a dynamic voice in Ghana’s leadership development space. Samuel is deeply committed to youth empowerment, purpose-driven leadership, and national transformation. Through writing, speaking, and mentorship, he continues to equip individuals and organizations to rise with clarity, conviction, and impact.

tainable development. According to the organisers, the awards recognise initiatives that create a long-lasting impact on society and the

environment, by honouring those who go beyond compliance to integrate ethical, socially responsible, and environmentally conscious practices into core business strategies. With the objective of championing responsible leadership and ethical governance across Africa and

beyond, the event brought together corporate leaders, sustainability champions, and change-makers committed to driving impact and responsible growth

Telecel Ghana Foundation sweeps

4 honours at CSR & Sustainability Leadership Awards

Telecel Ghana Foundation emerged as a standout force at the CSR & Sustainability Leadership Awards in Accra by clinching four prestigious awards in recognition of its outstanding commitment to sustainability and corporate social responsibility (CSR).

The Foundation arm of the telecommunications giant, Telecel Ghana won four cov-

eted honours, namely: Top Sustainability Brand of the Year, Best Employee-Led CSR Initiative of the Year, Best Public-Private Collaboration in CSR Initiatives for its partnership with the Ghana Health Service and Top Sustainability Leader in Ghana, awarded to Rita Agyeiwaa Rockson, Head of Foundation, Sustainability and External Communications.

“This recognition is deeply humbling and a powerful reminder of why we do what we do. Every initiative we lead at Telecel Ghana Foundation is about creating opportunities, inspiring hope, and empowering young people and communities to thrive. These accolades is a promise to the people and communities we serve that we will keep investing

in their future,” Rita said.

The awards collectively acknowledged Telecel Ghana Foundation for its innovative approach to galvanising staff-led community impact projects and supporting healthcare delivery through partnerships with government agencies to advance wellbeing initiatives in underserved communities across Ghana.

Beyond the telecommunications sector, the awards spotlighted excellence in sustainability efforts across banking, education, hospitality, pharmaceuticals, and beverages, underscoring a rising culture of purpose-driven business leadership in Ghana.

Organised by The Governance and Business Boardroom, the CSR and Sustainability Leadership Awards celebrate organisations and leaders who demonstrate outstanding commitment to corporate social responsibility and sus-

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