Aston Villa v Chelsea previewTeamtalk.comAston Villa will hand Matthew Lowton, who suffered a thigh strain against Norwich City last time out, a late fitness test as he looks to maintain his ever-present record in Saturday's home date with Chelsea. Karim El Ahmadi (thigh) and Ciaran Clark (foot) will be ...and more »

By Bernard Yaw ASHIADEY The Venture Capital Trust Fund will invest US$20million in small and medium enterprises (SMEs) in different sectors of the economy this year, building on a portfolio of investments currently valued at close to US$60million. The Fund invested US$8million in 2012, and a total of US$16million has been invested in 46 SMEs since its creation in 2004. It is increasingly a key investor in the local agricultural sector through its agricultural value-chain financing of cereals and grains to provide feedstock for the poultry and brewery industries. Chief Executive Daniel Duku, speaking to the B&FT after signing a memorandum of understanding (MoU) with the Ghana Institute of Management and Public Administration (GIMPA) to lay the ground for impact investing in Ghana, said the Fund will leverage new partnerships to provide additional support to businesses. He said the Fund is now turning its attention to impact-investing as investors are no longer considering just financial returns, but also having a positive social and environmental impact in areas where they channel their investments. The MoU will therefore establish a collaborative framework for promoting impact investing as a means of developing a business community of social enterprises to tackle the social and environmental challenges confronting the nation. “The Trust Fund desires to attract additional private capital to support businesses while providing innovative and effective solutions to social and environmental challenges in the country. “We hope the pioneering steps we are taking today will catalyse a positive transformation of Ghana’s entrepreneurial ecosystem, where business owners and managers look beyond financial returns to deliver solutions that reflect positively on the communities and societies within which they operate,” he said. The agreement with GIMPA is expected to culminate in the establishment of a GIMPA Centre for Impact Investing (GCII), which will receive seed-funding from the Fund using a grant from the Rockefeller Foundation. Mr. Duku said the Fund with support from the Rockefeller Foundation commissioned a comprehensive study of the impact-investing policy environment in Ghana. The outcome of the report will serve as a useful guide for the new centre -- expected to be launched with the full report by the end of next month. In a world where Government resources and charitable donations are insufficient to address the world’s social problems, impact investing --  that is, investments made into companies, organisations, and funds with the intention to generate measurable social and environmental impacts alongside a financial return -- offers a new alternative for channelling large-scale private capital for social benefits. With increasing numbers of investors rejecting the notion that they face a binary choice between investing for maximum risk-adjusted returns or donating for social purposes, the global impact-investment market is now at a significant turning point as it enters the mainstream. Impact-investing occurs across asset classes including private equity, venture capital, debt and fixed income. It is estimated that the impact investment market holds about US$400billion to US$1trillion in investment potential over the next 10 years. “I think Ghana stands to benefit from about US$10billion to US$20billion of this amount. If you look at the amount of money coming through impact investment, private equity and venture capital, we expect this trend to grow. “It is this potential that informs and motivates the introduction of impact investing in Ghana as a means to complement Government efforts to address major social challenges by engaging private capital,” Mr. Duku said. Rector of GIMPA Professor Franklyn Kwabena Manu said the time is past due for academia to step out of the classroom and use its knowledge and expertise to help in development of the national economy. “The GIMPA Centre for Impact Investing (GCII) is the beginning of one of many active channels that will serve as a beam of light to assist the business community, Government and individuals in identifying projects that can provide measurable social as well as financial returns,” he said.

By Patrick PAINTSIL The Collateral Registry, set up by the Bank of Ghana three years ago as part of credit market reforms, has so far registered 104,308 collaterals on which 49,096 loans have been secured, Central Bank Governor Henry Kofi Wampah has revealed. About 160 institutions—both local and foreign—have so far accessed the Registry, with a total of 14,608 searches conducted by various lending institutions, law firms and the general public, he said at the official launch of the Registry in Accra. Some 80.6 percent of registered collaterals are movable assets, 13.3 percent are immovable assets, and the remaining 6.1 percent represent both movable and immovable assets. The Registry provides services including the registration of charges (secured loans) and collaterals, and provision of avenues for lending institutions and the general public to conduct searches on registered charges and collaterals. It also assists in speeding up realisation of collaterals upon default by a borrower; effects discharges of registered charges and collaterals upon application by the registrant; and does registration renewals.Dr. Wampah said the Registry—which is the first movable and immovable asset-secured transactions registry in Africa—has been introduced at an opportune time to tackle some fundamental problems in the current credit system and the economy as a whole. He said the project has undertaken several training programmes for financial institutions, law firms, commercial court judges and other players on the operating rules for the new web-based collateral registry system. Touching on some challenges which require immediate policy focus, the Governor said the Central Bank has to deal with the problem of duplication of registration and disjointed records that are likely to arise from the lack of harmonisation between the Registry and other databases such as the Companies’ Registry, the Lands Commission and the Driver and Vehicle Licensing Authority (DVLA) records. Seth Terkper, Minister of Finance and Economic Planning, said it is encouraging that about 80 percent of assets accepted by lending institutions as collateral are movable assets such as inventories/receivables, household assets, investment property (shares, bonds, fixed deposits, etc), motor vehicles and general business assets. Even more encouraging, he said, is the fact that for non-bank financial institutions the ratio is 90 percent. He said for universal banks, which traditionally prefer immovable collaterals, the ratio of 47 percent acceptance of movable assets compares favourably with around 50 percent for immovable collaterals.“This trend of movable asset-based lending by financial institutions is reassuring in respect of access to credit by micro, small and medium-scale enterprises, a key concern of government over the years. This is because movable asset-based lending provides opportunities for SMEs, which generally do not have immovable property, to use their movable assets as security for credit,” said Mr. Terkper.

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Kosmos Energy, one of the partners in the Jubilee oilfields, has opened an ultra-modern office complex at Dzowulo in Accra, which Ken Keag, Vice President and Country Manager, says represents the company’s long-term commitment to doing business in Ghana. Kosmos Energy started operations in Ghana in 2004 as Operator of the West Cape Three Points exploration block, and has over the period been located in a number of offices in Accra. “Our moves were necessitated by the success of our exploration programmes ensuring our long-term presence in the country, and the resultant steady growth in our workforce from a humble beginning of 8 to today’s 70 personnel,” Ken Keag said. The company, he said, decided to acquire a bigger office space to consolidate under one roof and to provide a safe and comfortable work environment for staff. “Kosmos prides itself in being a preferred employer, and strives to provide as a number-one priority a safe and also a comfortable work environment conducive to the development of the strong work ethic and high productivity that epitomises our employees,” he said. Present at the ceremony were Government representatives, industry operators and traditional leaders.The Energy and Petroleum Minister, Emmanuel Kofi Armah-Buah who was the guest of honour, commended Kosmos Energy for its pioneering role in the discovery of oil in Ghana, saying: “...this record cannot be taken away from you”. The Minister assured that Government will continue to create a conducive political and business atmosphere for all investors, including Kosmos Energy, in the country. “As sector minister, I am as determined as ever to work with Kosmos to ensure a win-win for Ghana and Kosmos, and this can only be achieved if we see ourselves as partners,” he said. Kosmos Energy has a 24.1% working interest in the Jubilee oilfield and a 19% interest in the TEN project. The company is seeking to increase its investment in the country as according to Brian Maxted, the CEO, it has hundreds of millions of dollars to invest in Ghana over the coming years.

The National Security Council Secretariat has described as “a matter of grievous concern” the destruction of telecommunication cables, saying its impact affects national security. A letter signed by the National Security Coordinator, Lt. Col (rtd.) Larry Gbevlo-Lartey, and addressed to the Minister of Minister of Roads and Highways, stated that “road construction works are the major cause of cutting and damaging fibre-optic cables across the country -- resulting in disruption of communications.” In the letter copied to the Office of the President and all regional and district security council chairmen, Lt. Col. Gbevlo–Lartey said: “The impact of such disruption on national security and development is a matter of grievous concern.” In order to address the situation, the national security chief has directed that before road contractors move to site, they must be provided with a telecoms cable lay-out for the relevant area of work. Every contractor working in such an area must also “submit an undertaking in writing as to his duty of care to protect such cables from damage”.  A copy of both the layout and the written undertaking must be made available to the national security secretariat to support its operational and monitoring efforts, the directive said. The Ghana Chamber of Telecommunications has reported a phenomenal increase in cable cuts, which disrupt access to the networks.  In the first quarter of 2013 alone, the Chamber reported over 650 incidents of cable cuts.  In 2012 there were over 1,600 cuts, compared to 435 in 2011. Operators have invested over US$6billion in Ghana over the last decade and half, created over 1.8 million jobs and contribute 10 percent of all Government revenues.

Frederick Hesse-Tetteh, a young Ghanaian undergraduate engineering student from Villanova University, has placed third in the 2013 Villanova Student Entrepreneurship Competition. His group members included Warren Chan and Joseph Reckamp. The three took home a US$2,000 prize. They designed Du Riz, a portable rice-huller to improve the lot of impoverished rice farmers. Their innovation also took home US$500 for being the most promising social entrepreneurship idea. Villanova University undergrad business student Holly Imamura, engineering student Tom Belatti and Ben Smith and Oliver Herder, liberal arts and science students respectively, received the top prize of US$5,000 for Fun Run -- a smartphone application that enables people to set up running routes, get notified when they pass virtual flags on the routes, and compare their times with their friends’ times. They also won the US$500 top-prize in a mobile apps contest. The competition’s second-place prize of US$3,000 went to undergrad business students Chris Mederos and MJ Schanne for Maestro, a tablet app designed to replace sheet music. The competition is held by Villanova’s Centre for Innovation, Creativity and Entrepreneurship.

The Electricity Company of Ghana (ECG) has been directed to conduct a nation-wide inspection of all markets with a view of looking out for all illegal connections in the markets. According to a statement signed by a Deputy Minister for Information and Media Relations, Felix Kwakye Ofosu, the ECG is expected to move immediately to begin the exercise. He explained that illegal connections have been identified as one of the causes of fires in the markets.   He noted that Government has also directed the security agencies to coordinate with management of the ECG to apprehend and prosecute any person or group of persons found to have engaged in illegal electrical connections in the markets. The directives form part of measures by Government to curb the recent spate of fire outbreaks in markets around the country. According to Mr. Kwakye Ofosu, Government is assuring traders and the general public that it will adopt all measures necessary to prevent the outbreak of further fires in our markets. He however urged the public and those operating in the markets to also remain vigilant and be careful with naked fires, the electrical equipment, and connections in their stalls.

Newmont Ghana (Ahafo Mine) has distributed one hundred insecticide-treated bed-nets to some residents of Gyedu in the Asutifi North District of the Brong Ahafo Region. To date, Newmont has distributed over 3,000 insecticide-treated bed-nets to both community-members and employees as part of its malaria control interventions. The latest distribution of the insecticide-treated bed-nets coincided with this year’s World Malaria Day Celebrations durbar at Gyedu, which was organised by Newmont in collaboration with the Asutifi District Directorate of the Ghana Health Service (GHS). World Malaria Day is celebrated each year to draw attention to the dangers associated with the disease, and the need to take preventive measures. Speaking at the durbar, the External Affairs Manager of Ahafo Mine, Kojo Bedu-Addo, emphasised the company’s commitment to the fight against Malaria. He advised community members to keep their surroundings clean and be conscious of the fact that the campaign against Malaria is an individual responsibility that should be pursued on daily basis. He added: “Newmont will continue to partner the Ghana Health Service to promote public health”. As part of Newmont’s corporate social responsibility, the company has been partnering the Ghana Health Service to embark on a series of anti-malaria campaigns in communities around the Ahafo Mine.The Asutifi North District Director of the Ghana Health Services, Richard Akwasi Hinneh, commended Newmont for continuously supporting his outfit to carry out health education in the area. He thanked Newmont for spending US$16,000 to train six health personnel from the area in Malaria microscopy at the Kintampo Health Research Centre.

Prize identifies breakthroughs that exemplify Africa’s innovation and investment potential  With global population expected to grow to 9 billion by 2050 and more than 900 million people living in hunger, the demand for nutritious food is rapidly increasing.  Acknowledging this need and the impact of hunger in Africa, the Innovation Prize for Africa (IPA) has named the AgriProtein team as its 2013 winner.  The team of researchers and entrepreneurs will receive US$100,000 for its innovative approach to nutrient recycling -- a method that uses waste and fly larvae to produce natural animal feed. Selected from more than 900 applications from 45 countries, the AgriProtein team was recognised at the 2013 Innovation Prize for Africa awards Ceremony and Gala Dinner in Cape Town, South Africa.  The AgriProtein solution collects biodegradable waste, feeds it to flies that in turn produce larvae that are ground into protein to provide a more ecologically friendly, naturally occurring type of animal feed.  This approach improves the nutritional value of meat and lowers the cost of animal feed for African processors and farmers The IPA 2013 Gala also recognised two runners up for their contributions to African innovation.  In the business potential category, Hassine Labaied and Anis Aouini from Saphon Energy received US$25,000 for creating a bladeless wind-convertor.   In the social impact category, Sanoussi Diakite received US$25,000 for developing a thermal powered machine that husks five kilogrammes of fonia -- a West African cereal -- in just eight minutes.    â€œThe Innovation Prize for Africa winners showcase African solutions to African challenges,” said Jean-Claude Bastos de Morais, co-founder of the African Innovation Foundation and the IPA.  “It is time for private sector leaders, donors and Governments to work together to invest in practical solutions that will sustain Africa’s economic growth.” Winners were selected by a skilled panel of jurors based on the marketability, originality, scalability, social impact and business potential of their respective innovations.  They are provided with unrestricted funds in recognition of their achievements and are free to use the Prize in the manner they deem most appropriate. â€œWe are honoured by this remarkable recognition,” said Jason Drew a member of the AgriProtein team. “We are passionate about expanding our business to recycle more waste nutrients and supply a natural protein to feed farm animals  -- helping sustainably feed our continent -- this is an African contribution to sustainable agriculture for our planet.” Founded by the African Innovation Foundation and the United Nations Economic Commission for Africa, the IPA is focused on building Africa’s capacity by investing in local entrepreneurship. The Prize mobilises leaders from all sectors -- private sector, donors and Government -- to promote and invest in African development through innovation.    â€œThe AgriProtein team’s innovation is just one example of the game-changing African ideas that will continue to harness our natural resources profitably and sustainably,” said Dr. Francois Bonnici, Director Bertha Centre for Social Innovation at the University of Cape Town’s Graduate School of Business. “The IPA invests in Africa’s greatest resource -- its human capital.” The call for applications for IPA 2014 will be announced in July 2013.

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Accra, May 10, GNA - A two-day regional workshop for manufacturers of second line Tuberculosis medicines opened in Accra on Thursday with a call on participants to ensure that they obtained the World Health Organisation’s (WHO) prequalification status.

Aflao(VR), May 10, GNA - An unidentified Pastor is being sought by the Aflao Police for allegedly defrauding a lady of about GH¢ 5,000.00, under the pretext of delivering her soul from the spirit world.

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Penyi (V/R), May 10, GNA - Leonard Adzola, a Cameraman died instantly on Tuesday in a freak accident involving a Mercedes Benz car he was driving from Aflao towards Dzodze at Penyi in the Ketu-North District.