Kosmos Energy Donates Enhanced Testing Equipment Valued at $50,000 to the Ghana Health Service

Kosmos Energy Ghana has donated automated DNA/RNA extraction machine, RNA extraction test kits, and swab kits with transporters worth $50, 000 to the Ghana Health Service to help the Covid-19 fight.

Kosmos is confident that these items would complement the aggressive testing initiative of the Government of Ghana by enhancing the ability of GHS to deliver more rapid test results to support timely isolation and treatment of COVID-19 cases.

Kosmos is a full-cycle deepwater independent oil and gas exploration and production company focused on the Atlantic Margins. Our key assets include production offshore Ghana, Equatorial Guinea, and the U.S. Gulf of Mexico, as well as a world-class gas development offshore Mauritania and Senegal. We also maintain a sustainable exploration program balanced between proven, emerging, and frontier basins.

Procter and Gamble (P&G) Supports Government’s COVID-19 Fight with Face Masks

In response to the COVID-19 pandemic, P&G has supported the efforts of the Ghanaian government to curtail the spread of COVID-19 with a donation of 11,100 personal protective equipment in the form of face masks. We understand that this donation of protective equipment will support health workers on the frontline of the COVID-19 pandemic. This is a cause we wholeheartedly support.

P&G has a long history of supporting our communities in times of need all around the world. Since the onset of the COVID-19 outbreak, P&G globally – through “P&G Protect Our Heroes” Mission – has stepped up its commitment to be a force for good and have been working with long-standing partner organizations like the American Chamber of Commerce, Ghana (AmCham Ghana) to provide support to communities, relief agencies and people impacted by this challenging situation.

P&G as a company serves consumers around the world with one of the strongest portfolios of trusted, quality, leadership brands, including Always®, Ambi Pur®, Ariel®, Bounty®, Charmin®, Crest®, Dawn®, Downy®, Fairy®, Febreze®, Gain®, Gillette®, Head & Shoulders®, Lenor®, Olay®, Oral-B®, Pampers®, Pantene®, SK-II®, Tide®, Vicks®, and Whisper®.

The P&G community includes operations in approximately 70 countries worldwide. P&G has been operating in Sub-Saharan Africa for more than 25 years and in Ghana through our distributors for over 5 years contributing economically and socially.

Our purpose is to continue to touch and improve the lives of our consumers in Ghana with innovative brands. Some of our brands in Ghana include Pampers®, Always®, Ariel®, Oral B®, and Gillette®.

Miriam Badu representing P&G Ghana Trading Ltd commended the government on its effort in showing strong leadership during this period.

Standard Chartered Bank Ghana Provides 300 Residents In Ayawaso With Relief Packages

Before the novel COVID-19 virus hit the shores of Ghana, United Way Ghana was already collaborating with Standard Chartered Bank Ghana under our overarching program, Improving Basic Education (IBE). This partnership was initiated to improve the teaching and learning engagements of teachers and young learners while providing parents and caregivers the necessary tools to make them financially literate and self-reliant.

When the shutdown of schools made it impossible to go through with the IBE program, our collaboration with Standard Chartered Bank (SCB) evolved to support the vulnerable communities under our COVID-19 Response Initiative. Through our partnership with SCB, we will be supporting the parents and caregivers of the wards in the Kanda Cluster of schools by providing them with relief packages and engaging their young learners in a remote reading program for an entire month. These relief packages contain essential foodstuffs like rice, gari, beans, sugar, mackerel, soap, oil, and tin tomatoes and sanitary items for the household.

Soon after this agreement, SCB presented relief packages worth GHC85,000.00 for 300 households in Ruga, Kawukudi, and Maamobi with the promise of beginning remote literacy engagements in the coming weeks. Mr. Nimfah- Essuma, the Chief Financial Officer of Standard Chartered Ghana, commented during the presentation, “Having operated in Ghana for more than 120 years, we are committed to supporting our communities and the country at large during such dire times of need. Our immediate goal is to deliver relief measures to support the most vulnerable, and it is the reason we have partnered with United Way to address the needs of the most impacted. “We shall continue mobilizing our resources to support the most vulnerable,” he added.

Aside from having wards in Kanda Cluster of Schools, the beneficiaries receiving these packages are parents and caregivers who depend on the school feeding program to provide meals for their children.

To ensure the safety of all present we adopted the social distancing protocols recommended by the World Health Organization and the Ghana Ministry of Health. Before entering, beneficiaries had to wash their hands with soap and water. Then when called, enter into the building to show their coupon before receiving their package.  The look of relief on faces humbled all present. It was obvious that for most, this was God sent. “I am very thankful to have known Standard Chartered Bank and United Way Ghana, this package is going to make my family very happy today”, commented one man after receiving his package. A young learner sent by his mother said, “When my mother asked me to come, I was anxious because I did not know what to expect. Now I am happy I came, my little brothers and sisters will have good food to eat. You have really helped us”.

Most of the volunteers teared up after his comment, “I am lucky I get to do this, it has been a very humbling experience for me. I am not going to forget this anytime soon. I appreciate my parents providing for me and my siblings” commented Mary-Anne, a volunteer with United Way Ghana. In attendance at the distribution centers were volunteers and staff from United Way Ghana, Mother of All Nations, Muslim Family Counselling Services, and Achievers Ghana.

There were solemn moments during the distribution when it became apparent that these beneficiaries were receiving what they felt was a lifeline. Louisa Mensah, Resource Mobilization and Donor Retention Lead commented, “It has been a fulfilling experience, the gratitude the beneficiaries showered on us makes me believe that these packages will go a long way to provide sustenance for their families”.

With schools still suspended, the staff of Standard Chartered Bank will be engaging young learners of these beneficiaries through our remote reading program. We expect the young learners will be ready to be engaged and eager to learn.

With each engagement, our goal to support underserved communities under our COVID-19 Response Initiative becomes a reality. We have a long way to go in reaching our overarching goals but we continue to press on and know that each donation makes a difference in the lives of many people.

You can join us by going to https://unitedwaygh.org/united-way-ghana-COVID-19.php to find out more information,

Webinar: Accessing Co-Investment Opportunities and Exporting Under AGOA

The Chamber on June 16, 2020, collaborated with USAID and the West Africa Trade & Investment Hub to host a webinar to discuss the Trade Hub’s Co-Investment Opportunities and how companies can take advantage and export to the United States under the African Growth and Opportunity Act (AGOA). The event forms part of the ongoing AmCham Money Series.

AmCham Ghana Executive Secretary, Simon Madjie, reiterated the chamber’s commitment to assisting companies in doing business and help provide vital information to mitigate the impact of the new coronavirus.

The Trade Hub is a five-year trade and investment facilitation program that seeks to improve private sector competitiveness in West Africa through its $60 million Co-Investment Fund.

The program makes it possible for applicants to access grant funding from $250,000 to $2 million.  In Ghana currently, there is $8.5 million of grant funding (approx. 48.7 million Cedi) available for companies interested in co-partnering with the Trade Hub to generate new private investment, create jobs, and increase exports.

The aim is to co-invest in activities that contribute to; creating new jobs, generating high levels of private investment, increasing the value of exports and/or sales, empowering women and the youth, and introducing innovations to modernize agriculture.

Private sector companies, research institutions, universities, and non-profit/for-profit organizations looking to grow and upgrade their businesses, expand corporate social responsibility projects, or conduct research and development activities to pursue market and technological innovations in the agriculture sector can apply.

In addition to its co-investment partnerships, the Trade Hub also provides technical assistance to businesses so they can benefit from the African Growth and Opportunity Act (AGOA). AGOA was established to promote increased trade and investment between the U.S. and sub-Saharan African countries resulting in significant growth in total two-way trade between Sub-Saharan African countries and the United States.

AGOA/GSP represents  23% of total US-bound duty-free exports from AGOA beneficiaries and currently, Ghana is the 4th leading exporter.

The Trade Hub can assist companies in the eligibility process to export under AGOA, and also facilitates access to U.S. buyers for interested companies. Click to Download Presentation

Stream Presentation 

AmCham Hosts The Maiden Money Series Featuring Standard Chartered Bank

The chamber hosted the maiden AmCham Money Series featuring Standard Chartered Bank Ghana, to discuss among other issues, the effects of coronavirus on the country’s economy, investing during and post COVID-19, and the $1 billion SC bank financing for companies.

The event was the first of series of webinars to be hosted by the chamber to provide critical information to help businesses mitigate the impact of the pandemic.

Speakers at the first AmCham Money Series included Jojo Bannerman, Head of Financial Markets Sales at SC Ghana Limited, Xorse Godzi, the Country Head for Commercial Banking at SC Ghana Limited, and Setor Quashigah, Head of Wealth Management at SC Ghana Limited.

Jojo Bannerman highlighted the country’s economic sectors that have been impacted by the pandemic. Though he cited the Fiscal Gap of GHS 11.4bn (2.9% of GDP) and the worsening of Fiscal Deficit from -4.7% to -6.6% (SCB Research -7.8%; IMF -6.4%), the disruptions in global supply chains and the shortfalls in petroleum receipts of GHS 5.679 bn (assume 30 $/bbl average price) as some of the negative impacts of the virus. He mentioned there were some gainers.

He said with the new trend of working from home, companies have had to acquire gadgets and data plans for employees. This has positively impacted the business of companies operating the Information & Communication sector, he said.

Other gainers include the food value-chain and retail sales, which picked in March 2020 due to panic buying that preseeded the partial lockdown.

Mr. Bannerman also said companies are adopting what is termed the new normal by shifting to telework (Work from home/ Flexi-Work schedules), education & online certification, and digital commerce and marketing (accelerate the use of digital payment solutions).

Xorse Godzi, the Country Head for Commercial Banking at SC Ghana Limited, shared the bank’s response to the pandemic in terms of relief. The Standard Chartered Bank Group made available at least USD 1 billion financing commitment at preferential rates to pharmaceuticals and medical supplies companies, healthcare providers such as hospitals and pharmacies, and non-medical companies that can support the fight against the virus.

Local clients of the bank can also access this fund, according to Xorse, over USD 10 million has been approved with additional potential opportunities of over USD 20 million.

In response to the President’s Address and Bank of Ghana interventions, the bank has reduced interest rates and offered repayment tenor extensions for relevant existing clients. They have also put a freeze on fees for relevant transactions within Retail Banking.

Standard Chartered Bank Ghana is also supporting vulnerable communities in Ghana to mitigate the impact of the pandemic.

Head of Wealth Management at SC Ghana Limited, Setor Quashigah, talked about investing during and post COVID-19. She Shared tips on growing wealth and advised investors to know their risk profile, invest for the long term, and be disciplined; stay the cause. Mrs. Quashigah also said properties and family finances must be protected through insurance.

You need a plan to invest. According to Setor, you must assess your financial position to know your net worth, be mindful of your periodic obligations, invest only the part of the Net Liquid assets you do not need in the short term, use income investing strategies to fund your recurrent expenses, build a portfolio of short, medium and long term investments, and diversify.

Mrs. Quashigah also shared some exciting Standard Chartered Bank products, learn more here https://www.sc.com/gh/invest/

ABC Nigeria And AmCham Ghana Discuss AfCFTA Implementation Post Covid-19

The American Business Council, Nigeria, in collaboration with the American Chamber of Commerce, Ghana, hosted a webinar to discuss AfCFTA Implementation Post Covid-19 with the Secretary-General of the African Continental Free Trade Area Secretariat, Wamkele Mene.

AfCFTA provides the opportunity for Africa to create the world’s largest free trade area, with the potential to unite 1.3 billion people, in a $2.5 trillion economic bloc and usher in a new era of development.

The main objectives of the AfCFTA are to create a continental market for goods and services, with free movement of people and capital, and pave the way for creating a Customs Union.

Wamkele Mene briefly described the origin of the AfCFTA, which is essentially the product of the AU’s 2012 Boosting Intra -Africa Trade Action Plan which currently is at 18%.

He conceded that tariffs alone are not enough to encourage trade within Africa; this has to be done in conjunction with re-examining the economic structure of Africa; Leveraging on regional value chains; improving infrastructure, which currently at a deficit of about 100 billion U.S dollars and producing more goods or adding value to raw material.

With regard to the operationalization of the Secretariat and the agreement, Mene explained that the July 1st start date for trading has been put on hold until the pandemic is under control. 51 Countries have signed unto the Agreement and 28 Countries have so far ratified it as State parties.

Key Aspects of the Agreement Includes;

  • Increase and encourage the production of goods/services and the establishment of regional value chains to benefit all Countries on the Continent, create jobs and lift people out of poverty
  • Harmonization of customs processes and procedures on the Continent, to create a respected rule-based system for Countries to comply
  • Implement rules of origin
  • Implement a dispute settlement mechanism

Medium-Term Objectives of the Secretariat

  • Establishment of the Secretariat and staffed with the best and brightest Africans
  • World-class implementation of the Agreement
  • Credible dispute settlement mechanism for fair, impartial, transparent, and non-partisan of disputes to enhance investor confidence.
  • Establishment of value chains in two or three areas namely; automobile or agro-processing or the labour intensive value chains on the Continent
  • Encourage young Africans and Women in business and trade
  • Industrial Development Forum
  • Establishment of Fund for Investment in Value Chain

The long term goal of the secretariat is to increase intra-African trade from the current 18% to over 50% by 2030.

Wamkele Mene cautioned against willful lack of compliance with the rules by Member Countries as one of the challenges that may impede the development of AfCFTA. He further encouraged Countries to see the implementation of the Agreement as the economic relief required to derive economic growth after the coronavirus pandemic.

AmericaTowne Holdings Joins AmCham Ghana

AmericaTowne® Holdings, Inc. a world-class global company focused on international trade and infrastructure development has joined AmCham Ghana as a Gold Member.

AmericaTowne® goal is through exporting, funding, and investment to develop innovative businesses and opportunities that help people and countries grow.

They have a team of dedicated, highly skilled, and exceptionally talented senior staff working full-time for AmericaTowne.

The company’s Senior staff includes experienced members with PhDs/Drs., a JD/law degree, CPAs and financial analysts; MBAs, and successful business owners who have worked for the World Bank, the United Nations, major USA and Chinese companies, and top Fortune 25 international industrial companies.

AmericaTowne® offers 13 innovative programs designed to help people, communities, and countries develop, grow, and prosper.

  1. US Capital Markets Equity Funding Program
  2. Stock Offerings*
  3. US Capital Markets Membership Services
  4. China Silk-Road and Infrastructure Projects
  5. Export Service Program
  6. International Trade Centers
  7. ATI Modular  & Smart Technology
  8. Export Bond Program
  9. Procurement Partnership
  10. Study Abroad Program
  11.  Ex-Im Bank Funding Program – USA, China, Hong Kong China
  12. USA EB-5 Program
  13. Business Entrepreneurial & Innovative Concepts Program (BEIC)

Learn more about AmericaTowne here.

Land Tours Ghana And Avis Rent A Car Support The Distribution Of 19,510 Face Masks

Land Tours Ghana and Avis Rent A Car are both contributing towards the distribution of 19,510 non-medical, fabric face masks to under-resourced health facilities in high-risk areas such as Nima, Madina, Ashaiman, Agloboshie, and Old Fadama.

The masks were funded in part by the USAID-supported West Africa Biodiversity and Climate Change Program (WABiCC), which has supported Global Mamas on other projects as well that improve the livelihoods of women.

The masks are currently being produced by Global Mamas and are expected to be released to selected facilities in early June.

We visited the Global Mamas facility to see how these masks are produced and will soon share the video.

Visit https://lnkd.in/es85wbk to get more details on what member companies are doing to help fight the coronavirus pandemic. AmChamMemberCOVID19Support

COVID 19: UBER Ghana’s Response

In the past few weeks, Uber has taken steps to be part of the solution in various ways:

The Uber app is currently authorized for government permitted travel and/or exempted individuals during the partial lockdown. They have implemented:

Regulatory Guidelines

Uber app is available for permitted travel only (such as grocery shopping for essential goods or medicines).

Uber has implemented a pre-request screen that requires riders to confirm that the trip is within the permitted scope.

Limitations on passengers

  • UberX  – Maximum of 1 passenger

  • UberSELECT – Maximum of 2 passengers

Riders have been advised to sit in the back seat

Sanitizer Reimbursement

It is required that drivers sanitize their vehicles after each trip with a surface sanitizer.

Uber will make a one-time reimbursement to cover the expense of buying surface sanitizers (with a minimum alcohol content of 60%).

Helping affected drivers

If diagnosed with COVID-19 or placed in individual quarantine by a public health authority, Uber will provide driver-partners with financial assistance for a period of up to 14 days. For more information visit this page.

The above mentioned are initiatives are uber’s immediate response to the pandemic’s effects, and they continue to innovate more ways to leverage our platform to support individuals and their communities during these trying times.