The call for countries to prioritize investment in schools with the help of the international community in the face of government budget strains is one of the leading stories in the Ghanaian press on Wednesday.
The Graphic reports that despite government budget strains, countries should prioritize investment in schools with the help of the international community.
Demographic transition may be the biggest single opportunity for the economies of sub-Saharan Africa, but countries will only be able to enjoy the dividends if they make sufficient investment in education.
The region’s population is poised to double to 2 billion by 2050. As the Chart of the Week shows, that expansion will be led by growth in the working-age population of those ages 15 to 64 that will outpace other age groups and drive almost all the increase.
Sub-Saharan Africa has made notable progress in expanding access to schools in recent decades, but outcomes in the region still trail those in other emerging market and developing economies, as we explore in our latest Regional Economic Outlook.
Nearly three in 10 school-age children do not attend school. For primary school students, the completion rate is around 65 percent, compared with a world average of 87 percent.
And the literacy rate for those ages 15 to 24 is only 75 percent, below the nearly 90 percent rate in other emerging market and developing economies.
On top of this, pandemic-related school closures led to learning losses that in some cases reversed years of progress.
One reason for these shortfalls is that government spending on education in sub-Saharan Africa falls short of international benchmarks in several countries.
The newspaper says that MTN Ghana, known on the Ghana Stock Exchange as Scancom Plc, has seen a remarkable increase in its stock value, reaching an all-time high on Tuesday, April 30.
This surge came on the heels of the release of the company’s 2024 first-quarter earnings report, which showcased impressive financial and operational achievements.
The share price of MTN Ghana rose by 11 pesewas, marking a substantial 6.7% increase, to reach GH₵1.75. This significant jump surpassed the previous record high of GH₵1.65 recorded in March, indicating strong investor confidence in the company’s performance and prospects.
The first-quarter report highlighted substantial growth in service revenue, with a notable 32.4% increase to GH₵3.8 billion from GH₵2.9 billion in 2023. This growth was primarily driven by robust performances in data services, Mobile Money (MoMo), and voice communications. The company invested GH₵327.1 million in maintaining network quality, expanding coverage, and enhancing IT systems, further contributing to its positive performance.
Data revenue witnessed an impressive 60.0% year-on-year growth, reaching GH₵1.8 billion. This growth was supported by pricing initiatives implemented in the previous quarter and increased usage per active user. As a result, data revenue contributed significantly to total service revenue, accounting for 47.4% of the total.
Mobile Money revenue also experienced substantial growth, increasing by 35.5% year-on-year to GH₵870.6 million. This growth was driven by an expansion in the active user base and increased usage of MoMo services such as cashout, peer-to-peer transfers, and advanced services.
The Ghanaian Times reports that speakers at a lecture in Accra last Friday urged students of the Accra Technical University (ATU) to develop their innovative skills and leverage Artificial Intelligence (AI) to address the challenges encountered across the African continent.
The speakers were the Executive Chairman of the Jospong Group of Companies, Dr Joseph Siaw Agyepong, the Chief Executive Officer (CEO) of Kantanka Group of Companies, Nana Kwadwo Safo Kantanka and the head of Youth and Inclusive Bank¬ing at Access Bank, Ghana, Mr Jeffrey Agyepong.
The lecture held on Thursday was the first of a series of Chief Executive Officers (CEOs) lectures organised by ATU, and formed part of activities lined up to mark its 75th anniversary celebrations.
According to Dr Agyepong whose presentation was done on his behalf by the Chief Investment Officer, Mr Noah Gyimah, innovation played a crucial role in addressing the socio-economic challenges of Africa, such as healthcare, poverty, education, infrastructural development, and technological challenges.
Dr Agyepong explained that there was a need for the students to prioritise the application of the skills and knowledge acquired in school to advance societal development.
He entreated the students to become innovative-minded individuals as it would open opportunities for them beyond their academics.
For his part, head of Youth and Inclusive Banking at Access Bank, Ghana, Mr Jeffrey Agyepong, indicated that being an innovative individual required the identification of challenges and solving them.
He also encouraged the students not to be demoralised by negative comments made by friends or other individuals in society.
The Deputy General Secretary of Operations of the Kantanka Group of Companies on behalf of the CEO underscored the need for academia to collaborate, and work with industry players in finding cutting-edge solutions to the challenges faced by Africans.
The newspaper says that Telecel, an Africa-focused telecommunications company, has officially introduced its brand in an exciting market launch at Adum – Kumasi following the main brand unveiling in Accra in March this year.
Telecel Ghana’s brand presence in the Ashanti Region underscores the mobile operator’s commitment to being a key player in the socio-economic development of the people in the region.
Mr Sam Pyne, the Mayor of Kumasi, who welcomed Telecel on behalf of the regional minister, highlighted the significant role of telecommunications in all critical sectors of development such as agriculture, education, health, and entrepreneurship and shared his optimism that the presence of Telecel in the country would spur development.
“Telecel Ghana’s investment in our region promises to enhance our connectivity and empower our people economically and socially, and I am happy about the potential growth of local businesses,” he said.
Patricia Obo-Nai, Chief Executive Officer of Telecel Ghana, reiterated the company’s commitment to the region with a focus on the provision of digital innovations and affordable telecommunication services to meet the growing needs of Ghanaians.
GIK/APA
Ghana: Press focuses on promoting Sub-Saharan Africa’s growth through quality education, others
