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BUSINESS NEWS | GHANA AND BEYOND ; ITALY-GHANA AGRIBUSINESS LAUNCHED…

🚩The Italian Trade Agency (ITA) has launched the Italy-Ghana Agribusiness Digital Lab project to bring together Italian and Ghanaian companies in the agribusiness sector. The project will introduce Italian expertise and technology in the agribusiness value chain to the Ghanaian agribusiness market, with a focus on the following key areas: Agricultural Machinery and Mechanization; Logistics; Inputs and Agrochemicals; Irrigation; and Agro-Processing and Packaging. About 27 Italian companies with expertise in these areas will be presented to the Ghanaian market. The project will also expose Ghanaian agribusiness entrepreneurs to Italian initiatives in agribusiness training and skills development.

🚩The Ghana Standards Authority (GSA) with the support of the German government is set to build a modern fit-for-purpose National Metrology Institute in Ghana (NMI) to respond to the needs of the Ghanaian people and industry. The German government through the German Metrology Institute (PTB) is assisting GSA through the “Fit- for – Future National Metrology Institute in Ghana project, to improve its metrology services to meet the demands of industry, the scientific community, consumers and the international community. The project foresees an upgrade in the country’s legal framework to bring it in line with modern trends as well as the development of services that the industry wants and that will also satisfy the needs of consumers.

🚩The Bank of Ghana (BoG) has issued a set of guidelines centred on de-risking the Rural and Community Banks (RCBs) in the banking sector. A statement issued by the central bank explained the guidelines are aimed at providing a regulatory framework that establishes RCBs to adopt risk management practices. “The guidelines set out the minimum standard provisions on policies and procedures that would have to be covered in the various policies and procedures manuals used by the RCBs,” the bank said. “The guidelines will also provide RCBs with the needed guidance to protect their institutions from losses; protect and attract capital, and instil confidence in the regulator and other stakeholders through the adoption of measures that promote stability in rural banks and the wider financial sector,” the statement read in part.

🚩Promoting Integrity in the Infrastructure sector is paramount in controlling shoddy works and cost overruns, Architect Eugene Fredua Ofori-Atta, the Chairman of the CoST Sekondi/Takoradi Multi-Stakeholder Group has said. The CoST is a leading global initiative that works to implement transparency and accountability reforms in the infrastructure sector. He added that Integrity risks existed throughout the circle of works beginning from needs assessment, tendering, contract execution, and the post-contract phase called for a holistic approach in the procurement process to mitigate risks and prevent corruption. Mr Ofori-Atta said this during a day’s dialogue session with businesses within the Western Region, Procuring entities, engineers among others on Business Integrity in the Infrastructure sector to help better infrastructure delivery for the general good of the citizenry.

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Compiled By: Prince Henry Danquah
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