Monday, 15th August, 2022

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Page 10The GhanaInternationalTrade and FinanceConference (GITFiC)has called forsustained sensitization ofthe Ghanaian public andthe business community ofthe benefits of the AfricanContinental Free Trade Area(AfCFTA).It said with intra-Africantrade still very low, at lessthan 20 per cent, the adventof the AfCFTA was regardedas a springboard to positionin the league of global tradepowerhouses.The GITFiC made the call ata press briefing on its 29-pagesurvey report titled: “Assessingthe AfCFTA Among the BusinessCommunity in Ghana,” whichwas undertaken within a periodof 12 weeks from February toThe Bank of Ghana hasdirected all banks andfinancial institutionsin the country to rejectall British £50 and £20paper notes effective 31st August2022.The directive comes afterthe Bank of England in theUnited Kingdom declared thatthe two paper banknotes will nolonger be legal tender startingin October this year, becausethey have been replaced withpolymer banknotes.On its website, the Bank ofEngland said “30 September 2022is the last day you can use paper£20 and £50 notes. They havebeen replaced by new polymer£20 and £50 notes.”Both the £20 and £50 papernotes features the Queen ofEngland, but the new £50polymer note features a pictureof British scientist Alan Turingtaken in 1961, according to thebank of England, while the new£20 note celebrate the works andlegacy of British artist, Turner.The new £20 note has been inBusinessThere must be sustainedof AfCFTA – GITFiCApril 2022.The survey was to collectand assess views of the businesscommunity regarding theframework of the AfCFTA, andthe designation of Accra as the“commercial capital of Africa.”Making a presentation onthe Report, Mr Gideon Adjandeh,the Economic Researcher andPolicy Advocate at GITFiC saida total of 4,800 questionnaireswere administered to businessenterprises in six sampledregions of Ghana namely;Greater Accra, Ashanti, Eastern,Northern, Volta and WesternRegions.“A non-disguisedquestionnaire containing closeendedand open-ended questionswas developed to elicit theperspectives of respondents” hestated, and that the responseswere ranked on a blend ofGhana Central Bank toreject £20 and £50 papernotes from August 31circulation since October 2019,while the £50 note has been inuse since June 2021. But bothwill be of no use from October 1,2022.Following the BoG’s directive,banks in Ghana have startedissuing circulars via SMS to alltheir customers informing themthat the two paper banknoteswill longer be accepted at thebanks from August 31, 2022.Techgh24 editor made a callto Access Bank, upon receiving acopy of the circular to get detailsand a bank of official said perthe BoG’s directive, Ghanaiansare also on a deadline to spendany £50 and £20 paper notesthey have between now andSeptember 30, when the twopaper notes would no longerremain legal tender.There is a countdown on thewebsite of the Bank of Englandindicating 49 more days [fromtoday] left for you to use your £20and £50 paper banknotes.Meanwhile, as of today, theBritish pound is equivalent toGHS10.96.DAILY ANALYST Monday, 15th August, 2022the Likert scale and semanticdifferential scale.Mr Adjandeh said thesurvey adopted a qualitativeapproach, adding that, “a multistagesampling approach wasused in the collection of data,with a high sense of ethicalconsideration and a total of 2,572questionnaires was used for theanalysis.”The study found that 34 percent of respondents have notheard about the AfCFTA, andthe majority of respondents(18.86 per cent) gainedinformation about it from theradio and television while ahigh rate of 66.5 per cent ofrespondents indicated that theimplementation of the AfCFTAwould have a beneficial effect ontheir businesses.Mr Adjandeh said over 90 percent of respondents stated thatthe sensitization of the AfCFTAwould be relevant to ensure thatGhana harnesses the optimalbenefits under the preferencespresented by the continentalliberalized market.“It is hoped that the findingsThe Association ofGhana Industries(AGI) has initiatedtalks with governmentto push for taxexemption on the importationof raw materials and partiallymanufactured goods into thecountry by manufacturingcompanies.The move is to support andprotect investments made in thecountry and ensure that goodsproduced are affordable and ableto compete favourably on theinternational market.It would also cushion locallyproduced goods from unfaircompetition posed by cheapimported goods.Mr Humphrey Kwasi Ayim –Darke, President of AGI, speakingto the Ghana News Agency (GNA)in an interview, said the currenttax regime was biased towardsmanufacturing..He added that some productswere enjoying tax exemptionsso it would be in the rightdirection for raw materialsthat were being imported formanufacturing purposes to alsoenjoy tax exemptions.“All manufactured goodsmust enjoy tax exemptions justas agricultural machinery andother equipment”, he stated.This, he said would createmore jobs for the youth andcontribute to the manufacturingsector increasing gross domesticMr. Gideon Adjandeh, the Economicof this field survey would serveas veritable reference for policymakers and key players in theAfCFTA ecosystem,” he stated.Mr Selasi Koffi Ackom, theChief Executive Officer of GITFiCsaid: “We at the GITFiC stronglybelieve that, through sustainedhelp we can jointly change thenarrative on low sensitizationand spark the interest of thebusiness community and thepublic on the vast opportunitythe Continental Free Trade Areabring to the African Continent.“Our vision was to servekey stakeholders in trade andindustry.”Mr Ackom said for GITFiCto add layer to its vision as anexus serving both private andpublic enterprises and entitiesproducts.According to him, globally,manufacturing makes theeconomy a real one and apotential to ensure economicgrowth and development.It is in this light that thegovernment introduced the OneDistrict, One Factory policy torevamp industrialisation.He indicated that the countrymust endeavour to wean itselffrom foreign supply to ensurewould launch a comprehensivehandbook on AfCFTA, whichwould contain detailed andsimplified information on itsframework.It would particularly delveinto key topics such as; the Rulesof Origin and Trade Remediesamong others as pertains in thefield of international trade, hestated.“The handbook has goneunder reviews from keystakeholder institutionsincluding the AfricanUnion under the EconomicDevelopment Departmentand under the auspices of HisExcellency Albert M. Muchanga;Commissioner – Trade, Industry,Tourism and Mining.”Import of raw materialsmust be tax exempted – AGIsocio-economic security.Additionally, manufacturingcontributions to GDP had stalledover the years and the youthmust endeavour to enter it toimprove their livelihoods.Ms Akosua Amanoh, ayoung entrepreneur in soapmanufacturing speaking to theGNA called on the governmentto ensure that the youth in thesmall communities had a feel ofthe 1D1F policy.
DAILY ANALYSTMonday, 15th August, 2022 Page 11New Ghana forward,Inaki Williams hasopened up on whatled to his decisionto switch his Spainnationality to play for Ghana.Last month, the GhanaFootball Association (GFA)announced that the AthleticBilbao forward has becomeeligible to play for the BlackStars.Speaking to the Spanishpress ahead of the start ofthe new La Liga season, InakiWilliams says beyond hisfamily’s role, Kurt Okraku wasinstrumental in the process toget him to switch nationality.“It's something I've beenthinking about for many monthsand I've had the help of myfamily.“The president of theGhanaian federation [KurtOkraku] is the one who pushedhardest for me to be there,”Inaki Williams said as quoted bymarca.Inaki Williams added,SportsGFA president Kurt Okraku pushedthe hardest for me to switch to playfor Ghana – Inaki Williams“Trains only run once and I goton this one, which has more goodthan bad.“The decision has beenmature and consensual with myfamily."Kurt OkrakuNext month, Inaki Williamswill have his chance to playfor the Black Stars when he isinvited for the internationalfriendly matches.Haaland defendedby Guardiola afterrecording justeight touches inMan City's rout ofBournemouthPep Guardiola hasbacked Erling Haalanddespite the ManchesterCity forward recordingjust eight touchesduring the club's Premier Leaguewin over Bournemouth on Saturday.City ran riot against theCherries, winning 4-0 to make ittwo wins from two to start theseason.Haaland, though, was notamong the scorers, and saw littleof the ball as Bournemouth satdeep at the Etihad Stadium.He did, however, providethe assist for Ilkay Gundogan'sopening goal, and Guardiolaleapt to his summer signing'sdefence post-match.What did Guardiola say aboutHaaland?The City boss told a pressconference: “The most difficultjob in the world is when you arein a striker and defenders defendin areas like Bournemouth; theyhave three central defenders andtwo players in front and everyonein the middle. How can yousurvive like that? It’s so difficult.“We will find many of thesesituations, but it is a questionof time: the right moment, theright tempo, the right movement.But the quality of playerswe have behind him, to assisthim, we will find him. I have nodoubt about that.”What did Guardiola say aboutDe Bruyne?Haaland may have struggledon his home debut in thePremier League, but Kevin DeBruyne was at his devastatingbest as he chipped in with a goaland an assist for Phil Foden.On De Bruyne's stunningperformance, Guardiola said,“Kevin before last season wasjust assist and assist and nowhe is enjoying scoring goals. It isimportant for us [that] not justJulian [Alvarez] and Erling getthe goals.“When I was in Munich heplayed in Wolfsburg and I thinkhe was the best player in theBundesliga. Kevin was a reallygood player before our arrival,was good with us and will beafter us.”Qatar to use some WorldCup players for Ghanafriendly in AustriaWorld Cup hosts,Qatar, willname some oftheir regularplayers for theinternational friendly againstGhana this month.The Asian giants will playGhana, Morocco and Jamaica ina four-nation tournament laterthis month in Austria.With the tournament beingplayed out of the internationalwindow, Qatar will have theadvantage of naming a strongteam with most of their playersplaying in the Qatari stars league.Meanwhile, Ghana will travelwith the Black Galaxies for thethree games.The tournament will be heldat the Ernst-Happel-Stadion inAustria.Qatar, North AfricansMorocco and the Raggae Boyz ofJamaica will participate in thepreparatory games.The Black Stars will engageJamaica first before playing Qatarand Morocco.The games will also serveas preparations ahead of the2022 FIFA World Cup, withSeptember's AFCON qualifiersexpected to be postponed.The West African giants arereturning to the World Cup afteredging out Nigeria to qualify forthe tournament in Qatar thisNovember.The Ghana FootballAssociation recently announcedthe nationality switches ofsix players as part of boostingthe team with quality beforeNovember's World Cup.
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Monday, 15th August, 2022

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