Webster University IR Masterclass – African Continental Free Trade: Implementation Challenges and the Prospects for African Development

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With the world being a global village, trade is an important economic factor for the development of many economies. Trading dates back to centuries where an early form of trade- barter saw the direct exchange of goods and services for other goods and services. As time evolved and globalization emerged, trade changed, becoming broader and more complex. The formation of trade blocs, such as the European Union (EU) and the Pacific Alliance, paved the way for policies such as free trade, constituting bilateral and multilateral trade, which greatly expanded market access and spurred economic growth.

According to the African Development Bank, in 2014 only 16% of international trade took place between African countries. The United Nations Conference on Trade and Development (UNCTAD) also reports that Intra-African exports were 16.6% of total exports in 2017, compared with 68.1% in Europe, 59.4% in Asia, 55.0% in America and 7.0% in Oceania.

The African Continental Free Trade Area is widely seen as a crucial driver for economic growth, industrialization, and sustainable development in Africa. The agreement seeks to create a single African market of more than a billion consumers with a combined GDP of U$2.5 trillion. Through its various protocols, the AfCFTA Agreement addresses trade in goods (tariff liberalization schedules, non-tariff barriers, rules of origin), trade in services, competition, investment, and intellectual property. It is expected to boost intra-African agricultural trade, currently estimated to be less than 20 percent of total agricultural trade.

Despite its prospects, there continue to be implementation challenges that could thwart the efforts of the agreement.

Delta Air Lines Trade And Corporate Seminar

Delta Air Lines partnered with Air France and KLM to organize a 2-day Seminar dubbed “Back in the Skies with AFKLDL” from November 3 – 4, 2021. The seminar aimed to educate participants on the new travel requirements as the U.S. reopens to fully vaccinated foreign travelers on November 8 and also recap the ticketing policies and innovative tools the two airlines have introduced to ensure that their customers can book with confidence and travel with flexibility.

Day one of the seminar was dedicated to Trade Partners – Travel agents attended the event and were very pleased to have representatives from the visa section of the American and French Embassies make presentations on new travel policies and requirements. The second day was an interactive session with corporates. Representatives from the American Chamber of Commerce, Ghana, and the Ghana Netherlands Business and Culture Council were present to speak to participants about their relationships with the airlines and the benefits businesses get from being Chamber members.

The Joint Venture between Air France KLM and Delta Air Lines in the Ghana market has put the airlines in a good position to serve travelers what they truly desire: more choices, more frequencies, more convenient flight schedules, and superior customer service.

Virtual Meeting on Business and Cybersecurity: Emerging Cyber Threats

Many people think that cyber security refers to the software and monitoring that protect their email, operating system, network, and printing devices from malicious attack or data theft. Admittedly, this is a large and important part of cyber security for businesses. But management and employees also play a significant role in making sure your company is protected.

In this month of cybersecurity awareness, AmCham Ghana, on October 27, 2021, collaborates with one of the leading business advisory firms KPMG for a virtual meeting on Emerging Cyber Threats in the business environment. Speakers at this event were the Associate Director for the IT Advisory unit of KPMG,  Samuel Aluko, and Information Protection and Business Resilience Manager, Chris Owusu-Ansah.

According to the KPMG Cyber Security Catalogue, cyber risk is an everyday business consideration in the way that threats in the real world have always been.

Discussions focused on the cyber threat landscape, cyber resilience, key cyber considerations for business, and regulatory requirements and standards.

The event also featured a cyber game that shared light on cyber risks and what management can do to address these risks.

Kindly watch the full meeting below for an insight into everyday cyber threats that businesses are exposed to and what can be done to avoid or mitigate its impact.

Business and Cybersecurity: Emerging Cyber Threats

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Cyber security has long been one of the most challenging issues for businesses, and in this month of cybersecurity awareness, AmCham Ghana collaborates with one of the leading business advisory firms KPMG for this important virtual meeting on Emerging Cyber Threats in the business environment.

This event will host experts from KPMG to provide insight into new threats, precautions, and measures businesses can implement to prevent cyber attacks. It will provide critical first steps after a breach and share cyber resiliency toolkits to help your firm properly safeguard its data.

Speakers scheduled for the event include Sam Aluko, Associate Director, IT Advisory, and Chris Owusu-Ansah, Manager, IT Advisory.

 

ABOUT SPEAKERS

Samuel Aluko

Sam is an Associate Director in the IT Advisory unit of KPMG and has over 20 years of experience. He is responsible for the IT Advisory Team whose services include Cyber Security, Digital Transformation, Systems Implementations, IT Project Quality Assurance, Data Conversion reviews, ERP Advisory services, Vulnerability Assessment, and Penetration Testing Service, amongst others in the KPMG Ghana office.

Over the years, he has developed expertise in Cyber Security Risk, Business Continuity Management, Security Architecture Design and Implementation, Cyber Security Strategy, Cyber Maturity Assessments, including Cloud Security and Security Standards Implementation. Sam has provided services to our clients in various industries and has provided advice and training on IT and Cyber Security to the Board and Management of many organisations in Ghana. Before joining KPMG, Sam worked at Zenith Bank Plc, where he was involved in various digital banking implementations and cyber security reviews.

Email: samuelaluko@kpmg.com

 

Chris Owusu-Ansah

Chris is an Information Protection and Business Resilience Manager in the IT Advisory unit of KPMG in Ghana and has over eight (8) years of experience in various industries. He is responsible for the provision of Information and Cyber Security, Data Protection, Business Continuity, Disaster Recovery, Incident Management, Crisis Management, Strategy and Governance, Transformation, Cloud Compliance & Security, Cyber Defence and Cyber Response services.

He is skilled in the conduct of Cyber Maturity Assessments (CMA), Compliance Assessment (standards and framework assessment, such as ISO/IEC 27001/2, ISO 22301), Cybersecurity/Digital/Technology Strategy, Information Governance and Privacy, Third-party Security Risk Assessment, Incident Response Readiness and Planning, Patch and Vulnerability Management, Application Security, Security Operations and Monitoring, amongst others.

Email: cowusu-ansah@kpmg.com

Ghana’s Pension Landscape – Regulatory Framework and the Three-Tier Pension System

The American Chamber of Commerce, Ghana, in collaboration with the People’s Pension Trust, on Thursday, October 14, 2021, hosted a webinar to discuss the Ghanaian pension landscape, focusing specifically on the regulatory framework and the 3-Tier Pension System.

AmCham Ghana Executive Secretary, Simon Madjie during his opening remarks, acknowledged the importance of pension to the economy and its crucial role in the lives of workers. ”As of 2020, we are told that Ghana’s pension asset is over $5.8 billion. That is very significant, and as a credible platform, we are happy to bring all the experts here to discuss this issue,” he added.

Other speakers at the event included David Tetteh-Amey Abbey, DCEO of the National Pension Regulatory Authority, and Kofi Eba-Miezah Polley, Chief Operations Officer at People’s Pension. Their presentations focused on Ghana’s pension landscape and the regulatory framework in which it operates and provided insights on the 3-tier pension system and how to choose a plan that works.

The event was moderated by, Laud Senanu, Esq. Independent Trustee at People’s Pension.

Watch the full event below.

ALLSTAR Insurance Brokers Committed To Providing World Class Services To Its Clients

AmCham Ghana Executive Secretary, Simon Madjie, engaged with the management of ALLSTAR Insurance Brokers on their operations in the country. ALLSTAR Insurance Brokers provides bespoke insurance brokerage services to individuals, corporations, affinity groups, and MSMEs.

The company has access to all insurers in Ghana and several international partners, allowing risk to be reviewed and built from the ground up.

Allstar Brokers can tailor benefits to protect your company and employees, including burglary insurance, cash-in-transit, goods-in-transit, public liability, bankers indemnity, advance mobilization, customs bond, assets all risks, combined fire package, fleet motor vehicle, group life, group medical, international group medical, group personal accident, and critical illness insurance, key man insurance, shareholders protection insurance, medical expenses, evacuation & repatriation, welfare insurance schemes, and many variations thereof.

Delta Air Lines And AmCham Ghana Set For More Future Collaborations

AmCham Ghana and Delta Air Lines are set for more collaborations in the future to host events on issues of mutual interest. This was disclosed when the chamber’s Executive Secretary, Simon Madjie, paid a visit to the offices of Delta and engaged with the Sales Manager for Ghana, Liberia, and Cote d’Ivoire, Eloina Baddoo.

Delta Air Lines is one of the longest-standing members of AmCham Ghana and has collaborated on many events in the past. Every year, nearly 200 million travelers trust Delta to get them where they’re going.

Delta is the first and longest-serving American carrier connecting Ghanaians and Americans for business, leisure, and medical travel in safety and comfort since 2006.

AmCham Ghana Meeting With Government Account And Local Content Head At Baker Hughes

AmCham Ghana Executive Secretary, Simon Madjie, met with William Yeboah, Government Account and Local Content Head at Baker Hughes, to discuss the company’s operations and possible areas of collaboration with the chamber.

The AmCham Ghana Gold Member, Baker Hughes is a U.S company with operations in more than 120 countries and works in partnership with our customers, wherever they are, to deliver better outcomes.

Baker Hughes is committed to an inclusive and collaborative culture, helping its 54,000 employees develop their careers and thrive at work every day.

Nii Plants & Car Rentals Limited Opens New Corporate Office

Nii Plants and Car Rentals, on Friday, October 1, 2021, officially opened its new ultra-modern corporate office at Dansoman in Accra.

The new office complex is also home to the company’s subsidiaries, Plantsville Residences, NiiPlants Logistics, and Puffs Ghana.  The new building was designed and constructed by another AmCham Ghana member, Landsar Developers Ltd.

Nii Plants has built up a solid reputation in providing unbridled customer-focused total mobility services since its establishment in 2007.

The company has positioned itself to cater to your business needs, organizing airline travel ticketing, ensure that you travel in comfort, style, and safety. The Nii Plants Business Concierge service is designed to cater to all your executive and personal needs. They rent and maintain cars on your behalf whatever the size of your business or requirements.

Nii Plants is committed to providing a full range of unmatched service standards, competitive rates, and professionalism by meeting the demands of customers. Learn more