TEMPLARS advises Electrochem Ghana on a US$30 million equity investment by Ghana’s Minerals Income Investment Fund

TEMPLARS has advised Electrochem Ghana (the largest salt mining company in Africa) on a USD 30 million equity investment to the Minerals Income Investment Fund (MIIF) – a sovereign fund that seeks to manage the equity interests of, and receive mineral royalties and income for, Ghana. The transaction aims to finance Electrochem’s expansion of the Ada Songhor salt mining project, which spans over 40,000 acres of salt-rich basins.

 

Since obtaining the concession in 2020, Electrochem has invested significantly to increase salt production to over 1 million metric tonnes annually, with a projected revenue of USD 6 billion over the next decade. MIIF’s investment will support earthworks, equipment purchases, and the construction of a port facility, expected to create over 100,000 jobs and boost local economic growth.

 

The investment leverages opportunities from the African Continental Free Trade Agreement (AfCFTA) and reinforces MIIF’s commitment to diversifying its mining portfolio. This strategic move enhances Electrochem’s valuation ahead of its planned initial public offering.

 

The TEMPLARS team was led by Partner, Sarpong Odame supported by Senior Associate, Kojo Amoako, and Associates, Matilda Sarpong and Nana Kofi Amadieh. 

AmCham Ghana Strengthen Partnership with U.S. Chamber of Commerce

On May 2, the President of the American Chamber of Commerce in Ghana (AmCham Ghana), Mr. Kimathi Kuenyehia, and the Executive Secretary, Mr. Simon Madjie, embarked on a working visit to the U.S. Chamber of Commerce headquarters in Washington, D.C. The purpose of the visit was to further solidify the partnership between AmCham Ghana and the U.S. Chamber of Commerce, as well as explore initiatives to protect American private sector interests in Ghana and reposition U.S. Foreign Direct Investment in West Africa and Ghana.

During their visit, the AmCham Ghana delegation met with Kendra Gaither, President of the African Bureau at the U.S. Chamber of Commerce, and Dr. Guevera Yao, Vice President of the African Bureau. They also met with Ellasandra Walsh and Ellington Arnold, members of the Africa team at the U.S. Chamber of Commerce.

The meeting focused on several key areas, including strengthening the partnership between AmCham Ghana and the U.S. Chamber of Commerce. This partnership aims to foster greater collaboration and cooperation between the two organizations, ultimately benefiting the business communities in both Ghana and the United States.

Another key area of discussion was the need to aggressively protect American private sector interests in Ghana. This includes addressing any challenges or concerns that American businesses may face in Ghana, as well as exploring opportunities for growth and expansion.

The delegation also explored initiatives to reposition U.S. Foreign Direct Investment in West Africa and Ghana. This includes identifying new investment opportunities, addressing any regulatory or bureaucratic hurdles that may hinder investment, and promoting greater economic cooperation between the United States and Ghana.

Overall, the visit was a significant step forward in strengthening the partnership between AmCham Ghana and the U.S. Chamber of Commerce, and in promoting greater economic cooperation between the United States and Ghana.

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KEK Insurance Brokers Celebrates World Menstrual Hygiene Day with Dzorwulu Special School

On May 28th, KEK Insurance Brokers proudly celebrated World Menstrual Hygiene Day with the schoolgirls of Dzorwulu Special School. This annual observance aims to break taboos and raise awareness about menstrual hygiene. This year’s theme, “Together for a #PeriodFriendlyWorld,” emphasizes the need to eliminate stigma and ensure everyone has access to menstrual products, education, and proper infrastructure.

For this special event, we focused on educating the girls about:

1. Understanding menstruation as a natural part of life.

2. Adopting best practices for menstrual hygiene.

3. Providing sanitary pads to support their menstrual health.

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Our efforts were enriched by the expertise of renowned medical practitioner Dr. Hannah Lisa Tetteh, who served as our resource person and delivered comprehensive menstrual hygiene education.

The event was a resounding success, enhancing the knowledge of these special girls and bringing smiles to their faces. By celebrating Menstrual Hygiene Day with them, we believe we’ve made a meaningful contribution towards creating a more period-friendly world within our community and beyond.

Delta To Serve Ghana With New Airbus A330-900neo

Delta Air Lines will fly its state-of-the-art Airbus A330-900neo on nonstop service from Accra to New York-JFK effective 27 October 2024. The new aircraft will add approximately 30% more capacity between Ghana and the United States.

Speaking to journalists at a media roundtable in Accra, Matteo Curcio, Delta’s Senior Vice President for Europe, Middle East, Africa, and India, said, “Delta has worked to deliver an enhanced travel experience in Ghana. We look forward to welcoming customers onboard our A330-900neo aircraft come October, offering exciting new products and services as they travel to and from the United States.”

Matteo used the opportunity to express his gratitude to Delta’s customers, the Ghana Civil Aviation Authority, and the government of Ghana for their continued partnership. The brand-new A330-900neo aircraft will add nearly 1,000 more seats each week between Ghana and the U.S. It offers four distinctive experiences – Delta One Suites, Delta Premium Select, Delta Comfort+ and Main Cabin – and more cargo capacity to cater for growing demand.

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Customers can expect Delta’s best-in-class service and a uniquely premium onboard experience as they travel to and from the U.S. Each Delta One Suite features a sliding door for enhanced privacy, the luxury of a fully reclining seat, accompanied by plush bedding crafted from recycled materials. Delta One customers can also enjoy more beverage options and a seasonal chef-curated four-course meal.

Meanwhile, customers flying in Delta Premium Select will have more space to relax and stretch out, with a wider seat, deeper recline, an adjustable footrest and leg rest. Delta Comfort+ and Main Cabin passengers benefit from comfortable, memory-foam seats.

All travelers will enjoy ambient lighting for a restful flight, Wi-Fi for purchase, and seat-back screens featuring 1,000+ hours of Delta Studio entertainment. Delta collaborates with diverse suppliers worldwide for in-flight products such as artisan-crafted amenity kits and beverages like Thrive Farmers Tea.

Delta continues to maintain its reputation for operational excellence. The airline has consistently been recognized for excellence in passenger experience, customer service, operational performance, and workplace culture. Recent achievements include winning Cirium’s Platinum Award for operational excellence for the third consecutive year, OAG’s most on-time airline, Air Transport World’s Airline of the Year 2024, and the Wall Street Journal’s top U.S. airline.

 

CONTACT: Delta Corporate Communications

+1 404-715-2554

media@delta.com

news.delta.com

The Bank Hospital Joins AmCham Ghana

The American Chamber of Commerce, Ghana, is delighted to spotlight The Bank Hospital, a leading light in private healthcare, as they continue to set the gold standard in medical services.

Boasting state-of-the-art facilities and cutting-edge technology, The Bank Hospital provides an extensive array of healthcare services tailored to cater to the diverse needs of our communities, both within Ghana and internationally.

We are thrilled to share that The Bank Hospital has achieved a momentous milestone by securing full accreditation from COHSASA, the Council for Health Service Accreditation of Southern Africa. This esteemed recognition is a testament to our relentless pursuit of excellence, unwavering adherence to international standards, and steadfast commitment to patient safety.

If you have inquiries or want to schedule appointments, we welcome you to visit us at our Cantonment location, conveniently situated near NAFTI.

Alternatively, you can contact us via our dedicated helpline at 0302 739 373 or Anne directly at 0559542220.

U.S. State of Illinois 2024 Trade Mission to Ghana

From March 10 to 13, 2024, the Illinois Department of Commerce and Economic Opportunity, in partnership with the U.S. Small Business Administration and the American Chamber of Commerce in Ghana, hosted delegates from the U.S. State of Illinois for a transformative two-day event. This event comprised a focused business-to-business networking session and a prestigious reception with Chamber members, both designed to forge meaningful connections and foster collaboration between U.S. and Ghanaian enterprises.

The intensive business-to-business networking session served as a platform for delegates to engage directly with local businesses, exchange ideas, and explore potential partnership opportunities. Through facilitated discussions and interactive sessions, participants delved into key sectors such as technology, healthcare, real estate, and personal care products, uncovering synergies and laying the groundwork for future collaborations.

Moreover, the reception with Chamber members provided an exclusive opportunity for delegates to interact with influential stakeholders within the Ghanaian business community. Attendees had the chance to network with industry leaders, government officials, and representatives from various sectors, enhancing mutual understanding and building trust between U.S. and Ghanaian entities.

Click the link to watch: https://bit.ly/3IQ03dq

This initiative not only facilitated business matchmaking but also facilitated knowledge exchange and capacity building. Delegates from Illinois shared insights on best practices, market trends, and regulatory frameworks, while also gaining valuable insights into the unique business environment of Ghana. Such exchanges of expertise and experience are invaluable for fostering long-term partnerships and driving sustainable economic growth.

Furthermore, the collaborative efforts of the Illinois Department of Commerce and Economic Opportunity, the U.S. Small Business Administration, and the American Chamber of Commerce in Ghana underscore the importance of public-private partnerships in advancing economic development initiatives. By leveraging the strengths and resources of both governments and the private sector, these partnerships can catalyze innovation, facilitate investment, and create opportunities for businesses on both sides of the Atlantic.

As Africa’s e-commerce market continues to evolve and expand, events like these play a crucial role in connecting businesses and unlocking new opportunities for growth. By fostering dialogue, fostering collaboration, and fostering partnerships, we can build a brighter future for all stakeholders in the global economy.

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AmCham Ghana Holds Consultative Meeting on Restrictions on Importation of Selected Strategic Products

The American Chamber of Commerce, Ghana, on Friday, January 26, 2024, held a consultative meeting with Member companies at the Chamber’s secretariate to ascertain the impact the proposed Export and Import (Restriction on the Importation of Selected Strategic Products) Regulation, 2023, will have on their businesses.

According to the government of Ghana, this regulation aims to establish an import-permitting regime that can be used as a mechanism to regulate the quantities or volumes of Selected Strategic Products that would be allowed to be imported into the country.

The regulation aims to protect local manufacturers from undue competition from subsidized imported products and create a market opportunity to support their growth and sustainability. However, the regulation will pose challenges to the ease of doing business.

For instance, as a result of the kind of products listed for restriction, the new regulation could significantly impact the cost of operations for some companies as these products serve as raw materials. The new regulation could also cause undue delays that affect the operations of local companies.

This consultative engagement aimed to create a unified stance by AmCham Ghana on the proposed legislation, in addition to individual inputs submitted via the government portal.

AmCham Ghana And The University At Buffalo School Of Management To Collaborate On Research And Development

The American Chamber of Commerce, Ghana, on Wednesday, January 17, 2024, had an engagement with the Faculty Director, Global Programs, and Director of the Center for Leadership and Organizational Effectiveness at the University at Buffalo School of Management (UB), Dorothy Siaw-Asamoah, Ph.D., at the secretariate.

Professor Siaw-Asamoah, accompanied by a delegation of students who are part of their Annual Ghana Trip, met with Simon Madjie, the Executive Secretary of the Chamber, to discuss potential collaboration between the University and the Chamber’s AfCFTA Resource Center. This discourse focused on research projects related to the new continental trade agreement aimed at providing American companies with valuable information and guidance to leverage the AfCFTA and invest in the African continent.

There were also discussions on highlighting the positive impact of American companies on the Ghanaian economy while simultaneously working to correct misconceptions regarding local agricultural practices, thereby facilitating an environment for increased American investment in Ghana.

The Chamber has always hosted visiting students and faculty from the University at Buffalo, and in the interest of advancing education and strengthening technological cooperation between Ghana and the United States, the two organizations seek to further strengthen this partnership to enhance the existing relationship, recognizing the mutual benefits that will be derived from this cooperation.

Also present at the meeting was AmCham Ghana Manager for Membership, External Relations and Project, Jane Okyere-Aduachie.

***

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.

AmCham promotes commercial, economic, educational, and cultural ties between the United States of America and the Republic of Ghana.

 

About the University at Buffalo

The University at Buffalo School of Management is to discover and deepen our understanding of management concepts and applications that drive effective organizations and use them to produce principled and insightful leaders who create positive change in the world.

AmCham Ghana Welcomes New President and Board Members

The American Chamber of Commerce, Ghana, at the 20th Annual General Meeting of Members on Thursday, November 30, 2023, approved the appointment of a new President, Vice, Treasurer, and Board Members.

The appointees who will proceed to serve as new executives of the Chamber include President – Kimathi Kuenyehia, Vice-President – David Thornton, Treasurer – Bethel Yeboah, Board Member – Mark Appiah, Board Member – Nii Koi Kotey, Board Member – Eloina Baddoo, and Board Member – Clara Amarteifio.

AmCham Ghana Engages President And Board Chair Of U.S. EXIM Bank

The American Chamber of Commerce, Ghana, under the auspices of the U.S. Embassy in Accra, on Monday, October 30, 2023, had an engagement with the President and Chair of the Board of Directors of the Export-Import Bank of the United States, Reta Jo Lewis, for a discussion on financing options and the current state of the business climate.

The Export-Import Bank of the United States (EXIM) is the official export credit agency of the United States. EXIM is an independent Executive Branch agency with a mission of supporting American jobs by facilitating the export of U.S. goods and services.

Reta Jo Lewis noted that the United States views Ghana as a reliable partner for development and intends to expand engagements to drive growth. She noted that the Bank has had a long relationship with the country and the continent at large, and its continued presence reaffirms EXIM and the United States’ commitment to maintaining relations with Ghana.

The engagement explored ways the Bank can assist companies with resources and technical support to leverage opportunities such as the African Growth and Opportunity Act to drive exports.

Discussions also focussed on exchanging best practices to properly position local firms to be compliant to improve the ease of doing business with the United States.

Backed by the full faith and credit of the United States, EXIM assumes credit and country risks that the private sector is unable or unwilling to accept. The agency’s charter requires that all transactions it authorizes demonstrate a reasonable assurance of repayment; EXIM consistently maintains a low default rate and closely monitors credit and other risks in its portfolio.

EXIM officials present at the meeting also noted that contrary to popular notion, the Bank does not only finance big-ticket projects and companies but serves businesses of sizes, including small and medium-scale entities.

This meeting was attended by AmCham Ghana Board member Kimathi Kuenyehia, Executive Secretary Simon Madjie, Manager for Membership and External Relations, Jane Okyere-Aduachie, representative from the U.S. embassy in Ghana, including DCM Rolf Olson, Commercial Counselor Dean Matlack, Jillian Foerster, Paa Ekow Quansah.

Also present was Nana Osei Bonsu, PEF CEO and Board Member of Ghana EXIM, representatives from AmCham Ghana member companies, and some executives from the U.S. EXIM, including Hazeen Ashby, Acting Senior Vice President and Chief of Staff, Christopher Organ, Confidential Assistant, and Dan Tobin, Managing Director.