Telecommunication giant, MTN, has commissioned the construction of a 24-unit classroom block for the Ghana Police Education System worthGHC1.6 million.

The project is aimed at supporting the education needs of Ghana Police Service and expected to benefit over 2,493 pupils annually.

It comprises of a head teacher’s office, staff common room, modern toilet facility and furniture.

In addition to the 24-unit classroom block, MTN will convert and enhance an existing library into an integrated library, which will have a hardcopy book area and an ICT centre.

Speaking at the event at Tesano in Accra, Chief Executive Officer  of MTN Ghana, Selorm Adadevoh said: “MTN values our relationship with Ghana Police more essentially for the safety and security we enjoy as Ghanaians. MTN Ghana has declared this year as the year of the customer and so we are enjoined by this to brighten our customers’ lives at various touch points and today is the beginning of our time with Ghana Police”.

[caption id="attachment_5001" align="alignnone" width="291"] SELORM-ADADEVOH-MTN ,CEO[/caption]

Mr Adadevoh noted that MTN’s vision is to “lead the delivery of a bold new digital world and this facility, when completed, will have an ICT centre to bring the immense benefits of ICT to the students”.

MTN CEO added that the project is the 143rd investment of the MTN Ghana Foundation since its inception over a decade ago.

He noted that they are glad to have invested significantly in Ghana’s education with more than 82 educational projects across the country.

The Inspector General of Police David Asante- Appeatu, in his speech, explained that the Ghana Police Education System was ready to educate the children of the Police administration but it had become necessary to involve the general public.

He continued that since the mainstream duty of the police is to give security to the public, it made it logical for the facility to be opened to the general public.

He said the MTN assistance had come at the right time because when the old school was opened to the public, it led to the rise in student population, putting pressure on the old and weak facility and causing the quality of the facility to deteriorate, which made the police administration to think of entering into partnership with their key stakeholders, particularly MTN Ghana.

Source:myjoyonline.com

The Ghana Stock Exchange (GSE) is to work on the deployment of a mobile application for the secondary trading of listed securities.
Kofi Yamoah, the Managing Director of GSE said the Exchange would leverage on the approach of mobile money application, where investors could buy their shares and trade on the secondary market.
Mr Yamoah was speaking at a press briefing on the review of the stock market in 2018 in Accra.
He said “the GSE is looking at building on what MTN did in its latest IPO.”
He said the global stock market in 2018 suffered the worst year in a decade and nearly all African markets also suffered losses.
On global market environment, the MD said there were slower global growth especially in China and the political uncertainty and setbacks in the United State and Europe also affected the market.
He said the GSE composite index was flat at -0.29 per cent and the GSE financial index lost 6.79 per cent as compared to positive 52.73 per cent and 49.51 per cent respectively in 2017.
He said 2018 saw the telecommunication sector, now represented on the market by virtue of the biggest telecommunication company MTN, being listed on the market.
“Three non-performing equity securities were de-listed,” he said.
On factors behind GSE’s market performance, Mr Yamoah said inflation trended down and reached a single digit for the first time in over five years at 9.4 per cent in December, 2018.
He said new oil and gas field discoveries, means additional revenue for government as well as the satisfactory review by the international Monetary Fund of Ghana’s economy contributed to the performance.
He said the GSE’s market performance was also due to the continued strong investor confidence and interest in the Ghanaian economy, adding that, even though there were positives, the market also witnessed some negative like the pressure on the Cedi from a strong United State dollar leading to an 8. 39 per cent depreciation of the Cedi.
He said challenges in the banking and non-banking sectors, where seven banks failed in the last two years, mixed results of listed companies and securities sell-off by non-resident investors, due to rise in United State federal rates and profit-taking, affected the market.
Mr Yamoah said on the outlook for 2019, the GSE would facilitate the introduction of securities lending and borrowing and would improve market compliance by dealers and issuers through the use of technology such as a reporting portal.
“We will continue stakeholder engagements on GSE’s plans to demutualize in the short to medium term,” he added.
He said Vodafone Ghana should be made to go public to off load part of the 30 per cent in the company to enable the public to own a stake on the company.
He said adb bank shares re-possessed by the Bank of Ghana from entities related to Unibank should in the medium term be sold on the market to the public.
The MD said viable State-Owned Enterprises should be encouraged and allowed to raise equity or debt securities, based on their balance sheet, to better pursue their mandate.
“Ghana should have a formal and centralised reporting framework for forex trading for better price discovery in the foreign exchange market space.

Source:GNA

Governor Godwin Emefiele has on Tuesday revealed that MTN has paid $53 million to settle a money transfer dispute with Nigeria’s central bank and the matter has been withdrawn from court.

The central bank had ordered MTN and its lenders to bring back a total of $8.1 billion it alleged the company had illegally repatriated using improperly issued paperwork between 2007 and 2008.Emefiele said the money paid by MTN was a notional sum and that the company has been absolved from any wrongdoing, he said during a monetary policy meeting at which the bank left interest rates on hold at 14 percent.

Source:ITNews Africa

[caption id="attachment_5115" align="alignnone" width="200"] Yolanda Cuba - CEO VF[/caption]

Vodafone Ghana has affirmed its resolve to strengthening customer care for the sustainable growth of the company.

Ms Yolanda Cuba, the Chief Executive Officer (CEO) of Vodafone, said for that reason the company was working assiduously to roll out innovative products to address the needs of customers.

The company intends to introduce a ‘4G’ component to its line of services by the close of this year, and this was being pursued by the Management to bring their services to standard, she said.

Ms Cuba, who was inaugurating a new retail shop of the company at the Kumasi Shopping Mall, said Vodafone would continue to work to the satisfaction of the customer.  She was accompanied by Mr Puspinder Singh, Vodafone Ghana Director in-charge of Consumer Business.

The CEO indicated that the new retail outlet was to help expand its activities for the convenience of the customer. Mr Singh said the company had stepped up efforts to opening up more of such outlets to meet its growing customer base.

Source: GNA