The call by the Ghana Shippers’ Authority (GSA) for a strong collaboration between Ghana and Egypt to help boost the trade ties between both countries and MTN Ghana’s contribution of GH¢3.1 billion to national revenue for last year are some of the leading stories in the Ghanaian press on Wednesday.
The Graphic reports that the Ghana Shippers’ Authority (GSA) has called for a strong collaboration between Ghana and Egypt to help boost the trade ties between both countries.
“Statistics from the GSA indicated that a total of 1,220 metric tonnes of commodities were exported from Ghana to Egypt in 2021. Cocoa products constituted the largest of the export (834 metric tonnes) followed by Machinery and other equipment (192 metric tonnes), Cocoa Beans (104 metric tonnes) and General Cargo (89 metric tonnes).
“It is expected that greater collaboration would see exponential growth in the trade figures in the coming years,” a release issued by the GSA on May 31 said.
It said in 2020, Ghana exported $12.3 million worth of goods to Egypt, adding that the main products exported from Ghana to Egypt were Cocoa Paste ($8.07M), Cocoa Powder ($1.2M), and Machinery Having Individual Functions ($811k).
The release said during the last 25 years exports from Ghana to Egypt increased at an annualised rate of 12.6 per cent, from $633 thousand in 1995 to $12.3 million in 2020.
“Egypt Exports to Ghana was US$128.59 Million during 2021, according to the United Nations COMTRADE database on international trade,” it added.
“It said the GSA has begun processes to improve the trade facilitation procedures between Ghana and Egypt for the mutual benefit of shippers in both countries.
The newspaper says that MTN Ghana contributed GH¢3.1 billion to national revenue for last year, Board Chairman of MTN Ghana, Dr Ishmael Yamson, has stated.
He said the contribution was part of the company’s commitment to creating shared value and being a strategic partner to Ghana’s development.
Dr Yamson was speaking at MTN Ghana’s 2022 virtual Annual General Meeting on Tuesday, May 30, this year.
He said MTN Ghana had over the years received several acknowledgments for their contribution to the country’s revenue mobilisation efforts, including being recognised as the highest taxpayer in the country on several occasions.
“Over the years, MTN has won various awards as the highest taxpayer in Ghana in recognition of its contribution to the fiscal development of the country,” he said.
“During the year, MTN made a fiscal contribution of GH¢3.1 billion of which GH¢2.8 billion was paid to government in direct and indirect taxes, representing 35.8 per cent of our total revenue,” Dr Yamson said.
He added that, “in line with our commitment to creating shared value, we continue to make significant contributions through the creation of direct and indirect employment opportunities, impacting over 500,000 Ghanaians”.
The Ghanaian Times reports that the Standard Chartered Bank PLC posted a strong performance in the 2021 financial year despite the difficult macroeconomic environment brought about by the COVID-19 pandemic.
Profit before tax of the SCB in 2021 rose to GH¢695 million from GH¢675 in 2020, representing a three-per cent growth.
However, profit after tax of the company declined to by 9 per cent from GH¢478 million in 2020 to GH¢437 million due to the introduction of the Financial Sector Recovery Levy of 5 per cent on profits.
Also, the balance sheet of the bank grew by 26 per cent from GH¢8.0 billion in 2020 to GH¢10.1 billion 2021 and the operating income went up five per cent to GH¢1.1 million in 2021 from GH¢1.02 million in 2020.
In view of the strong performance, the company declared a dividend of GH¢1.84 per share bringing total dividend payment for the 2021 financial year to GH¢250 million.
The Board Chairman of SCB PLC, Dr Emmanuel Oteng Kumah, who disclosed this at the bank’s 52nd Annual General Meeting in Accra on Thursday, attributed the strong performance of the bank to investment in assets that generated better returns.
He said the performance of the bank reflected the general economic conditions that prevailed in the country last year.
Dr Kumah said 2021 was a difficult year due to the COVID-19 pandemic, which created uncertainty in the local and global economy.
In spite of the difficult macroeconomic environment, he said the management and board focused on its strategic priorities which helped the bank navigate the headwinds.
“As a business, he have had to adapt to the constantly changing landscape. We continued to invest in the future of the bank especially in our innovation and technological capabilities and skills to meet the challenges of the new working environment,” Dr Kumah, said.
The outgoing Board Chairman turning his focus on the dividend payment, said the Board recommended a dividend of GH¢2.57 per ordinary share for the 2021 financial year, compared to GH¢1.74 paid in 2020, representing a 48 per cent increase.
However, he said, the Central Bank approved a dividend of GH¢1.84.
The newspaper says that Ghana will miss out on the FIFA U-17 Women’s World Cup for the first time after savagely losing the ticket to the India 2022 tournament to Morocco on Saturday.
The Black Maidens went into the tie with a 2-0 advantage from the first leg match played at the Accra Sports stadium two weeks ago.
Coach Baba Nuhu’s side was forced to field a weakened side after the entire backline, including goalkeeper Deborah Brown and defenders Rose Boakyewaa, Magdalene Awuni and Faiza Abdallah were said to have tested positive for COVID-19.
This was after the team was subjected to a number of unsporting treatments from no mandatory training at the match venue, to gender checks and a frivolous move to weaken the team by wiping out the entire backline.
The Ghanaian delegation protested to the Match Commissioner but it was too little to change the situation as the game went ahead as scheduled.
Morocco started the game fiercely in search of an early goal to unsettle the Maidens as they fetched the opening goal through Fatima El Ghazouani in the 15th minute.
They missed the chance to take a 2-0 lead as they failed to take advantage of a spot kick in the 42nd minute of the game.
Back from recess, Morocco increased the tally after being gifted a goal through an error by second choice goalkeeper Afi Amenyeku in the 47th minute as she failed to deal with Samya Mansouani’s long range effort.
Ghana played brilliantly from then and even appealed for a penalty but Mauritanian referee Aisaat Amadou waved play on – much to the surprise of the Ghanaian bench.
Morocco kept pushing for the third goal but the Black Maidens held on to keep the score at 2-0 as they dragged the game into penalty shoot-outs after a 2-2 aggregate score.
Morocco went on to win the shoot-outs 4-2 and booked a place at the FIFA World Cup in India – becoming the first North African side to qualify for the competition.
On the other end, the Black Maidens will miss the finals for the first time since its inception in 2008.
GIK/APA