Ghana: Press focuses on 2nd programme to transform Ghana’s credit infrastructure, others

The launch of the second phase of the Global Financial Infrastructure Programme (GFIP 2.0) to promote access to finance for smaller enterprises, women-owned businesses and under-served individuals is one of the leading stories in the Ghanaian press on Thursday.
The Graphic reports that the second phase of the Global Financial Infrastructure Programme (GFIP 2.0) to promote access to finance for smaller enterprises, women-owned businesses and under-served individuals has been launched.
The programme will support Ghana’s credit reporting system to broaden its reach and coverage, help strengthen the regulatory framework for movable asset financing, and promote the introduction of innovative lending products to expand business financing options.
In addition, GFIP 2.0 will support the implementation of legislation that defines how to support businesses that are in financial distress and recovery.
It is being implemented by the International Finance Corporation (IFC), in collaboration with the Bank of Ghana (BoG) and the Office of the Registrar of Companies, with support from the Swiss State Secretariat for Economic Affairs
Micro, small and medium enterprises employ approximately 80 per cent of Ghana’s workforce and are key to the economy.
However, they struggle to access finance due to a lack of physical immovable property traditionally preferred as collateral by banks, such as real estate or land titles, as well as a lack of formal credit profiles and strict lending requirements imposed by banks.
A strong credit ecosystem is essential to providing businesses with the capital they need to stay afloat, grow and make a positive economic impact.
The newspaper says that the United Bank for Africa Plc (UBA) has positioned itself to support key sectors driving the economies of African countries where it operates.
The bank said over the last 75 years, it had played a pivotal role in the development of agriculture, infrastructure, education, small and medium enterprises (SMEs).
“On infrastructure gap in Africa, I can tell you from agriculture, roads, ports and telecoms, power the infrastructure gap is a lot. But that lies the opportunity we have in Africa.
“UBA’s strategy has been: in countries that we are present, we support the key sectors that are driving the economy of those countries,” the Group Managing Director (MD) of UBA, Oliver Alawuba, said.
He was speaking at a global press conference monitored from Nigeria last Monday as part of the bank’s 75th anniversary celebration.
“So, we are committed to developing Africa and supporting the key sectors that are pushing African economies. It is showing even in our performances and our businesses.
“If you look at our accounts and performance, you will see that our performance has continued to improve, reflecting clearly what we are doing,” he said.
Mr Alawuba indicated that the bank was also committed to expanding its presence, seizing growth opportunities, and delivering value to all stakeholders.
The Ghanaian Times reports that the Vice President, Dr Mahamudu Bawumia, has inaugurated a state-of-the-art medical waste treatment facility at Kperisi, near Wa.
The facility, capable of process¬ing over 500 kg of medical waste per day, represents a significant advancement in the region’s waste management capabilities.
Dr Bawumia was accompanied by a delegation including the Defence Minister, Dominic Nitiwul, Minister of Chieftaincy Affairs, Stephen Asa-moah Boateng, Minister of State, Ambrose Dery, former Secretary of the NPP, Kwabena Agyapong, Deputy Minister of Sanitation and Water Resources, Amidu Issahaku Chinnia, and the Upper West and East Regional Ministers, Stephen Yakubu and Dr Hafiz Bin Salih.
In an inaugural address, Dr Bawumia emphasised the impor¬tance of the facility in ensuring safe and effective medical waste disposal, and praised the collaborative efforts between the government and the Jospong Group of Companies, led by Dr Joseph Siaw Agyepong, in revolutionising Ghana’s waste man¬agement sector.
The Vice President highlighted the dedication of President Nana Addo Dankwa Akufo-Addo, who had been instrumental in promoting waste management infrastructure across the country.
He noted that the president’s vision had materialised through the completion 10 Integrated Recycling and Compost Plants (IRECOPs) and seven medical waste plants, including the new facility in Wa.
The Executive Chairman of the Jospong Group of Companies, Dr Joseph Siaw Agyepong, appreciated all stakeholders, including govern¬ment officials, traditional leaders, local contractors, and international partners, such as Komptech GmbH and Ecosteryl, for their enduring partnership over the period.
He reiterated the collaborative effort required to achieve these milestones and thanked everyone for their unwavering support and dedication.
The newspaper says that Unilever Gha¬na has said that the deci¬sion to relocate its Lipton tea production line to its subsidiary in Nigeria has nothing to do with the unfavourable business condi¬tions in Ghana.
It said it was part of a global strategy to transfer operations to the Nigerian firm, Eketerra.
The Managing Director of Unilever Ghana, Chris Wulff-Cae¬sar, who disclosed this during a tour of the Unilever Ghana factory in Tema last week, said the decision to relocate the tea oper¬ations from Ghana was taken in 2021 when there was no dumsor.
Mr Wulff-Caesar said Gha¬na remained a good place for investment, saying, “When you go out you see a lot of investments around the country and that send a signal that Ghana is a good invest¬ment destination.”
The Managing Director of Unilever Ghana said when he assumed position in April this year as the new head of Unilever Gha¬na, he had visited the Ghana Stock Exchange, Association of Ghana Industries, Ghana Employers Association and most importantly the market.
“The message that I want to send out is that Unilever is here to stay. We have been here for over hundred years and have not shirked our responsibility of supporting economic growth and development of Ghana,” Mr Wulff-Caesar stated.
He said Unilever Ghana was excited about the investment potentials of Ghana, adding that his outfit had been a significant employer in Ghana for the past century and also providing for the household needs of consumers.
He emphasised the company’s collaboration with the relevant authorities to verify the activities of individuals involved in counter¬feit consumer goods and import¬ers who evade paying the correct amount of duties at the country’s ports.
“We are playing this role not just to protect our business but the Ghanaian economy,” he stated, adding that the interest of Unile¬ver Ghana was fair competition and also to promote the interest of consumers.
GIK/APA