AmCham Ghana Holds 19th Annual General Meeting Of Members

The American Chamber of Commerce, Ghana, on Thursday, December 8, 2022, held the 19th Annual General Meeting of Members at the Chamber’s secretariat in Accra.

Our President, Ayesha Bedwei Ibe, briefed members on the various AmCham Ghana activities, highlighting the Chamber’s significant efforts at advocating for an improved business and the AmCham Ghana community’s contributions to mitigating the impact of the deadly COVID-19 virus.

The President’s Report also noted the establishment of the AmCham Ghana AfCFTA Resource Centre to serve as an information hub for U.S. businesses and provide a conducive environment for networking and partnership with Ghanaian businesses to take advantage of the trade agreement.

Mrs. Ibe also reiterated the Chamber’s commitment to further strengthening the economic relations between Ghana and the United States, citing the establishment of the AmCham Ghana Franchise Committee, aimed at helping build a profitable franchise ecosystem in Ghana by promoting successful franchises and advocating for laws and policies that will improve the ease of doing business for franchisees.

The Chamber also presented the  Economic Impact Survey Report undertaken by AmCham in collaboration with PwC. The survey, among other things, was to determine the overall contribution of American Companies to the socio-economic development and also find out how AmCham can support its members in doing business in Ghana and the West Africa sub-region.

The 19th AGM also saw three Board Members, Vish Ashiagbor, Randi Cruz, Gbile Adewunmi, and one Ex-Officio Member, Philippe Ayivor, retiring from the Chamber’s Board of Directors. AmCham Ghana appointed new members, Ashok Mohinani and Kimathi Kuenyehia, to its Board of Directors.

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AmCham Ghana Appoints New Members To Its Board Of Directors

The American Chamber of Commerce, Ghana, appointed two new members to its Board of Directors at the 19th Annual General Meeting of Members held on Thursday, December 8, 2022, at the Chamber’s secretariat in Accra.

The new Board Members are Ashok Mohinani, Executive Director of the Mohinani Group, MASCO Foods (KFC Ghana), and Kimathi Kuenyehia, Managing Partner at Kimathi & Partners – CORPORATE ATTORNEYS.

Ashok Ramchand Mohinani is the Executive Director of Mohinani Group, a third-generation family business with over 50 years of experience in multi-sector operations in various industries across the African continent. Ashok Mohinani oversees the operations of all the Ghanaian business units and subsidiaries from the headquarters in Accra.

He joined Mohinani Group in 1984 as Head of Sales for Poly Products & Poly Sacks, Ghana. He then eventually became the Deputy Managing Director of the Poly Group in 1987. From there, he took on the role of Managing Director of Somotex, Nigeria, in 1991. He returned to Ghana in 1998 to assume the position of Executive Director of the Group.

Mr. Mohinani is a Member of the Board of Trustees, Postgraduate Endowment Fund, College of Health Sciences of the University of Ghana. He is also a member of the Economic Affairs Committee of the Association of Ghana Industries. He is a past President of the Indian Association of Ghana and has also served on the board of Ghana International School.

He is also a founding member and past president of the Accra chapter of the Young Presidents Organization (YPO) and a fellow of the African Leadership Initiative West Africa (ALIWA). Mr. Mohinani is the Honorary Consul of Uruguay in Ghana and recently obtained an Executive Diploma on International Diplomatic Law for Honorary Consuls from the United Nations Institute for Training and Research (UNITAR).

Among the several awards Ashok Mohinani has won are the 2015 Industrialist of the Year by the Made in Ghana Awards, the 2016 Excellence in Business Awards by the Entrepreneur Foundation of Ghana, and the 2019 CEO of the Decade Award by the Ghana Business Awards. He was also given a Special Recognition Award —Sanitation Leadership Award in 2019. In 2020, Ashok Mohinani was adjudged Settler of the Year by the EMY Africa Awards and Outstanding Industrialist of the Decade by the Ghana Entrepreneur & Corporate Executive Awards.

 

Kimathi Kuenyehia is an award-winning Harvard-educated transactional lawyer who is ranked by Legal 500 as one of the top 5 leading lawyers in Ghana. He is the Managing Partner of Kimathi & Partners, corporate attorneys; one of the top three leading law firms in Ghana.

Mr. Kuenyehia provides high-end legal services to foreign governments, global multinationals, and Fortune 500 companies with respect to their most challenging legal issues, most significant business transactions, and most critical disputes. He is the first and only African to win the prestigious International Bar Association Outstanding Young Lawyer of the Year for his “professional excellence, innovative approach to legal practice, community service, and reputation for the advancement of legal ethics.”

He is also recognized by IFLR 1000 as “outstanding on all matters.” Described as a lawyer ‘who thinks outside the box.’ Mr. Kuenyehia is the co-author of Mining, Electricity and Oil Regulation in Ghana, published by Getting the Deal Through; and he is writing a book on Corporate Law and Practice in Ghana.

 

About AmCham Ghana

The American Chamber of Commerce, Ghana, is the representative arm of U.S. businesses and subsidiaries voluntarily working to create an environment where business can thrive between Ghanaian and American communities.

The Chamber remains a leading organization at the forefront of advocating for an improved business environment to boost investor confidence and continues to work closely with other institutions to maintain and further strengthen the economic relations between Ghana and the United States.

 

Remarks By U.S. Commercial Counselor Dean Matlack At The 2022 AmCham Ghana Thanksgiving

AmCham President Ayesha Bedwei Ibe;

Distinguished Guests; Friends, Ladies, and Gentlemen; All protocols observed:

Good evening, everyone! I’m very pleased to be here this evening to celebrate Thanksgiving — and to celebrate with all of you.

As you know, Thanksgiving is a cherished family holiday among Americans. I’d say it is a holiday that is particularly loved by diplomats and expatriates who are located far away from their family of birth, but who forge a new family in their host country with friends such as you.

In fact, it was one year ago at this very event that I met many of you for the first time. It was my first official event in Ghana and the first in two and a half years following the outbreak of the pandemic. And while we are still living with the threat of COVID, I am thankful that we seem to have finally moved on.

The tradition of Thanksgiving is not lost on us – it came out of a time of scarcity and struggle in American history.  It affords us an opportunity to take a pause and reflect. As we look back on the events of the last year, there is indeed much to reflect on.

We continued our tremendous government, corporate, and personal efforts to address the pandemic. We also pivoted to address a new range of problems.

We experienced many ripple effects from Russia’s unprovoked war in Ukraine – from food security to inflation. We saw the real-time destructive effects of climate change in many countries this year.

Government policymakers, companies, and individuals here in Ghana are also grappling with significant economic challenges. But Thanksgiving is also an opportunity…to be thankful. For example, we are thankful that Ghana and the United States this year, made the World Cup!

I hope this year’s tournament can unite the world in the spirit of competition and solidarity as we work to address the common challenges we face in the world.

Here at home, we are also thankful for the tremendous work the business community is doing in Ghana despite the economic headwinds. The awards tonight celebrate much of this work. As exemplary corporate citizens, you donated and delivered critical medical supplies during the pandemic.

You promote sustainability and renewable energy in your own operations and lead on the transition to clean energy.  You build schools and sponsor STEM training for Ghana’s youth, to name a few initiatives.

In doing so, you create pathways for self-reliance in communities across Ghana, improving their quality of life and their prospects for the future.

The AmCham remains a leader and partner with the Embassy and the Government of Ghana.  We want to deepen our work with you to both improve the business environment and help Ghana address its structural challenges.

You are not just investors in Ghana, you are invested in Ghana’s future success. And that is why we must ask more of you – your efforts are essential for Ghana’s resilience and its economic recovery.

In a few weeks, the United States will welcome the President of Ghana and other African Heads of State to the U.S. – Africa Leaders Summit in Washington. The Summit will demonstrate the United States’ enduring commitment to Africa.

It will underscore the importance of U.S.-Africa relations and increased cooperation, including efforts to address current economic, regional, and global challenges.  Ghana is central to this, serving as a beacon of democracy and stability in this region, a critical leader within ECOWAS, and a global player at the United Nations and on issues of import, such as climate change.

However, the Ghanaian people are now facing real struggles, with high food and transport costs as well as rising food insecurity.

Businesses too, including your own, are having to make difficult choices as you try to manage the stressors of this economic crisis and support your employees. As we take time to think back on the blessings of the year, we must all consider how to seize the opportunities that are offered in a time of crisis to effect meaningful, perhaps difficult, change to bring long-term prosperity to all Ghanaians.

This is a matter of urgency! We must encourage the government’s efforts to quickly address the situation, including concluding an agreement with the IMF. At the same time, with the American entrepreneurial spirit alive and well among members of the AmCham, we must channel it to serve Ghana in this time of need.

As businesses that respect the rule of law and operate transparently, you have an important role to play in engaging the government on key reforms that can strengthen the business environment and attract new investments into Ghana.

We encourage those here – as key players in this economy – to use your voices to raise concerns and collaborate with the Government on business climate reforms to drive sustainable economic growth and opportunity. We are all facing strong headwinds coming from international economic and security developments this year.

I am proud that despite those headwinds, the Embassy and the AmCham sustained our momentum to expand the U.S. – Ghana commercial relationship through events such as the U.S.-Ghana Business Forum, diaspora outreach, and our franchising workshop, to name a few.

In closing, allow me to congratulate in advance tonight’s honorees and award recipients.

Please join me in remembering those who may have less this year and who may be suffering from a job loss or financial challenges. You are not forgotten. And it is my hope that our trade and commercial relationship will continue to grow and benefit all Ghanaians.

Let’s give thanks for the many blessings in our lives, both big and small, and in remembering that at the heart of this holiday… is the spirit of togetherness.

I wish you all an enjoyable evening and a Happy Thanksgiving!

 

Award Winners At The 2022 AmCham Ghana Thanksgiving And Awards Night

The American Chamber of Commerce, Ghana, at the recently held 2022 Thanksgiving Cocktail and Awards Night at the Labadi Beach Hotel on Saturday, November 19, 2022, awarded outstanding member companies for their various roles in promoting trade and investment between Ghana and the United States.

The awards for Outstanding U.S. Businesses in Ghana were presented to Masco Foods Limited (KFC Ghana), Appolonia City, and Delta Air Lines (Aviation Alliance Limited GSA). The 2022 award for Best Participating Member went to ePac Flexible Packaging Ghana Limited.

The Chamber also presented Certificates of Appreciation to member companies that have sponsored various AmCham Ghana events, including the AmCham Ghana Business Forum and the Thanksgiving and Awards Night. The Certificates of Appreciation went to Delta Air Lines (Aviation Alliance Limited GSA), Kosmos Energy Ghana HC, Cummins Ghana Limited, PwC Ghana Limited, Tampico (Interbrands Ghana Limited), Stanbic Bank Ghana Limited, Cargill Ghana Limited and Voltic Ghana Limited.

TechnipFMC also received a Certificate of Appreciation for excellence in the development and promotion of local content in the oil and gas sector of Ghana.

In recognition of their contribution to the promotion of AmCham Ghana activities, the Chamber presented Graphic Business and the Multimedia Group Certificates of Appreciation.

Gallery: 2022 AmCham Ghana Thanksgiving And Awards Night

The American Chamber of Commerce, Ghana (AmCham Ghana), on Saturday, November 19, 2022, hosted the 2022 Thanksgiving Cocktail and Awards Night at the Labadi Beach Hotel in Accra under the theme, ‘Building a Sustainable Future for U.S – Ghana Business Relations.’

The Chamber hosts the annual event to commemorate the traditional American Thanksgiving Holiday and express appreciation to individuals and companies that contributed to the development of the Chamber and the economic relations between Ghana and the United States.

Thanksgiving is a national holiday celebrated in the United States as a day of giving thanks for the blessing of the harvest and the preceding year.

The annual Thanksgiving reception allows members of the AmCham community to network and establish new relations for potential business collaborations.

The 2022 AmCham Ghana Thanksgiving Cocktail and Awards Night were sponsored by PwC Ghana Limited, Kosmos Energy Ghana HC, and Cargill Ghana Limited and refreshed by  Voltic Ghana Limited.

Below are fantastic pictures from the night.

 

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5Th AmCham/GARIA Business Meeting: Discussion Of The New Office Of The Registrar Of Companies

The American Chamber of Commerce, Ghana, and the Ghana Association of Restructuring & Insolvency Advisors (GARIA) On Thursday, November 3, 2022, hosted the Registrar of Companies,  Jemima Oware, for a discussion of the new Office of the Registrar of Companies (ORC) towards enhancing the Ease of Doing Business in Ghana at the 5Th AmCham/GARIA Business Meeting.

Other speakers at the event included AmCham Ghana President Ayeesha Bedwei Ibe, President of GARIA, Felix Addo, Dr. Anthony Oteng-Gyasi, Board Chairman, GRA / Executive Chairman of Tropical Cables, and Seth Asante, Chairman of ORC / Managing Partner, Bentsi-Enchill, Letsa & Ankomah.

The separation of ORC from the Registrar-General’s Department (RGD) is to focus solely on entity registrations and administration and to advance sound corporate governance principles, transparency, and ease of doing business.

The objective of the new Office is to register and regulate all types of businesses in conformity with the laws. The ORC will also discharge duties and perform functions of the Office as the Official Liquidator and Regulator of Insolvency Practitioners under the Corporate Insolvency and Restructuring Act, 2020 (Act 1015) with its amendment (Act 1031).

Under the new Act establishing the ORC;

  • The Regulations (Articles of Association and Memorandum of Association) are now referred to as the Constitution.
  • Companies are given the option to file a Registered Constitution or opt for one of the Three Schedules in the Act which are prototypes of the six (6) types of Constitutions under the Act as their Constitution.
  • Object Clause is no more mandatory (sectors required, however).
  • Objects would, however, be required by Companies regulated in a specialized sector such as Banks and Companies with Foreign Participation.
  • The rules governing approval of the names by the Registrar of Companies would still apply with regard to the name of a business and how it can restrict a company to only specific objects to operate
  • New suffixes have been introduced-S.21 (Limited Company (LTD), PLC, LBG, PLBG, PRUC, PUC, etc.)
  • The age limit is now 18, not 21.
  • No required minimum capital
  • No Certificate to Commence Business
  • Unclaimed Dividends are to be transferred to the ORC under sections 73 and 74 of Act 992 and managed for 7 years, after which if the dividend is still unclaimed, 50% would be transferred to the Consolidated Fund and 50% lodged in the ORC’s interest-bearing Account to be used for investor education, research, entrepreneurial development and advancement in Company Law.
  • The Directors of a Company shall not appoint a person as a Company Secretary unless that person; has obtained a professional qualification or tertiary level qualification with an offering in company law practice and administration that enables the person to have the knowledge and perform the functions of a Company Secretary, has been appointed a Company Secretary Trainee or has held office under a qualified Company Secretary for at least three (3) years; or is a member in good standing of the Institute of Chartered Secretaries and Administrators or the Institute of Chartered Accountants Ghana, having been enrolled to practice, is in good standing as a Barrister or Solicitor in the Republic, or by academic qualification, or as a member of a professional body, appears to the Directors as capable of performing the functions of a secretary of the Company.

Madam Oware also hinted that under the Ghana Economic Transformation Project, being funded by the World Bank, the RGD procured a consultant to help the new ORC develop its Corporate Strategic Document and Organizational Manual and facilitate the decoupling from the RGD. These Documents she said would be ready by January 2023.

According to the Registrar of Companies, new software with efficient functionalities is being procured through the World Bank to streamline online service delivery to ensure fewer walk-ins. With the new system, a standard API will be provided for data-sharing purposes and real-time information access. Applicants will be allowed to select the bank of their choice during the registration process, and the data will be shared with the bank for account opening purposes at a fee.

In dealing with ‘GORO Boys,’ Madam Oware said, a VVIP unit will be established in the ORC located at the RGD to provide swift services at an approved fee.

AmCham Ghana/U.S. Embassy Train Entrepreneurs On How To Launch A Successful International Franchise Business

AmCham Ghana, in collaboration with the U.S. Embassy in Ghana, held a two-day franchise training for about 50 Ghanaian businesses and entrepreneurs in Accra. The maiden franchise training event on How to Launch a Successful International Franchise Business was to equip participants with expertise on engaging with U.S. franchisors.

The two-day event saw remarks from the Deputy Chief of Mission at the U.S. Embassy in Accra, Nicole Chulick, and Chairman of the AmCham Ghana Franchising Committee/Executive Director of Mohinani Group, Ashok Mohinani. The training also featured lectures from industry experts, including Kay Ainsley, Managing Director at MSA Worldwide, and Eric Johnson, Global Franchising Team Lead at the U.S. Department of Commerce.

Franchising allows local companies to work closely with U.S. partners with extensive marketing, logistics, and financing expertise. The training also hosted a panel of industry practitioners from PwC, Cal Bank, Ecobank, Fareast Mercantile, U.S. Patent and Trademark Office, Kimathi & Partners, Ministry of Trade, Quality Insurance, Orkin Pest Control, and the Ghana Registrar General’s Office for discussions on Intellectual Property Rights; Local Legal, Tax, and Policy Considerations; Local Business Development and Financing for Franchises; and Running a Successful Franchise. 

Participants were presented with a certificate of participation by the Executive Secretary of AmCham Ghana, Simon Madjie, after their two-day intensive training from leading U.S. industry trainers and international and local experts about franchising contracts, how to build a strong franchising business, sources of revenue for each partner, local tax and legal issues, how to secure financing, and protect intellectual property rights, among other topics.

 

AmCham Ghana Hosts Memphis Trade Delegation

The American Chamber of Commerce, Ghana, on Tuesday, October 4, 2022, hosted a Trade Delegation from the United States city of Memphis in Tennessee at the Chamber’s secretariat in Accra.

The delegation led by the Greater Memphis Chamber was in the country to explore investment opportunities in education, tourism, and infrastructure, as well as build strong cultural ties with Ghana.

AmCham Ghana Executive Secretary, Madjie Simon, briefed the delegation on doing business in Ghana and shared economically viable sectors which could boost trade and investment between Ghana and the United States. He reiterated the Chamber’s preparedness to assist businesses seeking to establish and do business in Ghana.

AmCham Ghana Private Meeting with U.S Congressional Delegation

AmCham Ghana, on Monday, September 12, 2022, hosted a private meeting between visiting U.S Congressional Delegation, the U.S. Ambassador to Ghana, Virginia E. Palmer, and Executives of AmCham Ghana member companies to discuss issues of sustainability and environmental protection in the extractive industry, as well as further strengthing U.S. – Ghana relations and advocating for improved regulations to enhance the ease of doing business.

The U.S. Congressional delegation included Chairman Raúl Grijalva, House Natural Resources Committee (D-AZ), Congresswomen Jennifer Gonzáles Colón, House Natural Resources Committee (R-PR), Congressman Edward Case, House Natural Resources Committee (D-HI), Congressman Gregorio Kilili Camacho Sablan, House Natural Resources Committee (D-NMI), and Congresswoman Rashida Tlaib, House Natural Resources Committee (D-MI).

AmCham Members companies present at the meeting included, Joe Mensah, Senior Vice President & Head of Ghana Business Unit at Kosmos Energy, David Thornton Regional Senior Vice President at Newmont Africa, Adiki Ofeibea Ayitevie, Vice President, Sustainability & External Relations at Newmont Africa, Bharathwaj Kannan, Sr. Area Manager for North West Africa at Halliburton, Evans Sam, Operations Administrator at Boart Longyear, Theophilus Ahwireng, Chairman/Managing Director at MODEC Production Services Ghana JV Limited, Baafour Asiamah-Adjei, CEO at Genser Energy, Frances Rogoz, VP of Project Development at Genser Energy, Anna Klapper, VP External Communications at Genser Energy, Prince Agbeibor, Country Manager, Ghana & Ivory Coast at Schlumberger, Selom Akaba, New Units Projects Director Sub-Saharan Africa at GE Gas Power, Mark Pritchard, Country Manager at The Coca-Cola Bottling Company Of Ghana Limited, and  Joseph Dankwah, Business Development & Sales Manager -TechnipFMC Ghana, Equatorial Guinea & Ivory Coast.

VX Technologies And Ghana’s Future on Blockchain

The Chamber, in collaboration with our member, VX Technologies, on August 25, 2022, hosted an event on Ghana’s Future on Blockchain, introducing VXT’s cutting-edge credentialing technology to Ghana.

Speakers at the event included AmCham Ghana President, Ayesha Bedwei Ibe, President of VX Technologies, Justin Pauly, AmCham Ghana Executive Secretary, Simon Madjie, Commercial Officer at the U.S. Embassy in Ghana, Laurie Kelleher, and Managing Director at Cargill Ghana, Aedo van der Weij, who stated that it is hard to effect changes in already established systems and that it wasn’t a coincidence that Mobile Money was invented in Africa. “It never would have been possible to invent that in the U.S. or Europe,” he added.

VXT is a fast-growing Verified Record (VR)™ on Blockchain company that provides secure certificates at a low initial purchase price and low recurring costs. The company operates globally from its base in the United States, and according to its President, Justin Pauly, the company is excited to establish its African headquarters in Ghana. “I think Ghana has a bright future with respect to blockchain technology. It’s very important for businesses to work with blockchain to effect changes in their operations,” he added.

VX Technologies’ products reach every facet of life that needs to be verified, and verification is verifiable anywhere there is the internet. The opportunities for verification range from personal achievements in education and professional credentials to your vaccination status or prescriptions.

VXT recently joined AmCham Ghana, and Chamber’s Executive secretary, Simon Madjie, during his remarks, reiterated the Chamber’s commitment to strengthening economic relations between Ghana and the United States. “Today is one of those days where our everyday work comes to fruition, which is promoting U.S. business here (Ghana). VTX, a U.S. company, and what they are bringing onto the Ghanaian market gives us such an opportunity to bring to the fore the importance of working with companies from the U.S. And it is not just working with them but they are here to transfer technology, work with locals, pay taxes and improve the lives of many Ghanaians,” he stated.

The company provides the technology to instill trust where it has been lacking and aims to overcome problems that seemed impossible to solve before blockchain. Its records are immutable and sanctioned by a government and or governing body to instill trust in individuals, providers, and the societies that they serve.

They are focused on promoting individual sovereignty by providing products that enable you to have a record of your life. Your credentials, certifications, treatments, and more should be usable as you see fit, as well as public sovereignty, by ensuring the credentials or status of anyone can be verified at all times. Whether you want to secure someone’s vaccination status or professional credential, you should be able to anywhere and for free.

 VXT chose to tackle global trust markets for two reasons. First, billions of people worldwide face issues related to the authenticity and availability of records. Second, they are solvable on both technological and financial scales with blockchain.

 

Contact VXT

Prince.Adipah@vxpass.com
justin.pauly@vxpass.com
www.verifyforx.com
www.vxpass.com