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SSNIT Calls For A Review Of Contribution Rate.

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The Social Security and National Insurance Trust (SSNIT) has called for a review of the contribution rate of workers to enable it to sustain the pension scheme and to pay workers higher pensions.

Currently, the contribution rate is 11 per cent of basic salary but SSNIT wants it reviewed to 19.2 per cent.

At the Volta Regional forum in Ho to discuss issues related to pensions, benefit computation, among others, the Director-General of SSNIT, Dr John Ofori-Tenkorang, said there was the need for a discussion on what the correct funding rate should be for the scheme.

The forum was organised by the Trade Union Congress (TUC) in collaboration with SSNIT.

Participants were taken through practical details of how to estimate their pensions.

Dr Ofori-Tenkorang said the benefits that pensioners received as compared to the contributions they make showed that there was a chance that SSNIT might not be able to meet its obligations in the future especially when more and more pensioners come on board.

“We have had external actuaries who come and look at our scheme every three years and some of their suggestions they have been making is that we should come up with an appropriate funding rate to sustain the scheme,” he said.

The time, he said, had come for the country to build a robust and sustainable scheme that would still be there for generations to come.

No cheating

Responding to claims that SSNIT pensions were low, Dr Tenkorang debunked such claims, stating that there were no myths surrounding benefit computation and that pensions were “a direct reflection of salaries of workers on which they contribute”.

He described SSNIT as a “generous scheme”, explaining that the lowest paid pensioner earns more than a lowest paid worker in active service despite meagre contributions.

According to him, the system put in place did not create the opportunity for SSNIT workers to steal people’s pensions and in a situation whereby there was a wrong computation of benefits, it could be easily rectified.

“SSNIT does not cheat workers. I can’t cheat you; SSNIT workers cannot cheat you too. If they don’t even pay you the right amount, they can’t put that money in the pocket because wrong computation can easily be corrected,” he told members of labour groups and workers at the forum.

The SSNIT boss mentioned that SSNIT had embarked on an aggressive public education agenda to promote knowledge of the scheme among others and for that matter has rolled out the second phase of infoshop in five universities to empower next generation of workers on their right to the scheme.

TUC

The Deputy Secretary General of TUC, Mr Joshua Ansah, said pensions had been a major concern for workers in Ghana and that was why they felt it necessary to bring the top hierarchy of SSNIT to address the concerns for workers.

He urged workers to take an active interest in their social security and retirement planning.

Source: Citi Business News

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Should Africa Agree To Trade In The Green Market.

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Across the world, Marijuana use is widespread among young people. Authorities tagged Marijuana, popularly referred to as weed, Mary Jane or ganja as toxic and urge the public to stay away, but others believe weed is a natural herb with health benefits. In 2013, Uruguay became the first country to legalize marijuana. However, all sales must go through the federal government, which is supposed to set up a network of dispensaries and determine prices.

According to a report by the United Nations Office on Drugs & Crime (UNODC) in 2009, the highest levels of cannabis production in the world take place on the African continent. Also, a stunning discovery suggests that in the past, the only way the African natives could have learned about marijuana would have been through their contact with outsiders, and the most likely point of contact was the Arabs.

In some African countries like Malawi, cannabis is an economic engine. The “Malawi Gold” locally known as “Chamba” rated among the best and finest" marijuana strains in the world has led to a profound increase in marijuana tourism and economic profit in Malawi. A research study estimates the rate of annual cannabis usage in Africa by people aged 15-64 to be 7.5 percent, almost double the global average of 3.9 percent, and pressure to legalize marijuana is increasing in many African countries.

Lesotho and Zimbabwe have legalized cannabis for medical use and last year in September, South Africa legalized the private use of cannabis. The decision allows adults to consume cannabis in private and grow marijuana for private consumption. Recently, in Ghana, there have been calls on the government to legalize marijuana by some advocates claiming it would help improve the current economic situation in Ghana. Lately, many countries have begun to tap into the marijuana industry for profits following the global rise in its use, and there’s pressure on several African governments to venture into commercial production of the lucrative substance.(Flash Africa)

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Access Bank Wins Big At 2019 SERAS Awards. – (PHOTOS)

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TruCSR, the company behind Nigeria’s foremost awards for Corporate Social Responsibility and Sustainability, the SERAS Awards, announced during the 13th edition of the popular Awards that it would be partnering the international business magazine, Forbes, to release Nigeria’s first CSR and sustainability ranking. The publication will be titled “Top 50 Organisations Making a Difference in Nigeria”.

The affiliation with Forbes would attract international attention to companies in Nigeria that are investing in highly impactful CSR and sustainability programmes. The 13th edition of the SERAS Awards was themed “Driving Sustainability Through Inclusive Growth: Strategic Partnership as Key to Unlocking Opportunities”, a reflection of the crucial role CSR has to play in achieving inclusive economic growth.

Over the last 13 years, the SERAS has attracted over 900 entries from almost 300 of Nigeria’s leading corporations and multinationals. About 250 awards have been handed out following a rigorous process that involved detailed analyses of over 5,000 sustainability projects in Nigeria and other African countries. The winning projects have been documented as best-in-class CSR projects in Africa, models for companies seeking to make social and economic impact in Africa to follow. According to Ken Egbas, Founder of the SERAS Awards, the 2019 edition has had the highest number of first-time participants, 29. Over 15,000 CEOs and top public officials have attended the awards ceremony.

The biggest winner at SERAS 2019 was Access Bank which clinched four awards (Best company in sustainability reporting, Best company in partnership for development, Best corporate communications team award and Best company in climate action), closely followed by Dangote Rice which won two awards (Best company in eradication of hunger and food security and Social enterprise award). Olumide Orojimi (NSE) emerged as the winner of the CSR/Sustainability practitioner of the year, while Omobolanle Victor Laniyan (Access bank) and Victoria Ndee Uwadoka (Nestle), were announced as the first runner-up and second runner-up respectively.

Categories/Winners

  1. Best Company in poverty eradication: Nigeria LNG Limited
  2. Best company in eradication of hunger and food security: Dangote Rice
  3. Best company in promotion of good health and well-being: Zenith Bank
  4. Best company in education: Nigerian bottling company
  5. Best company in provision of water and sanitation: Nestle
  6. Best company in provision of clean and affordable energy: International Breweries plc
  7. Best company in infrastructure development: Chevron
  8. Best company in partnership for development: Access bank
  9. Best company in environmental excellence: Union bank
  10. Best workplace practices: HIS
  11. Best company in stakeholder engagement: Coca-Cola
  12. Best company in supplychain engagement: Dangote Cement
  13. Social enterprise award: Dangote rice
  14. Best company in promotion of gender equality and women empowerment: Unilever
  15. Best company in climate action: Access bank
  16. Non-for-profit of the year: ACT
  17. Best corporate communications team award: Access bank
  18. Best company in sustainability reporting: Access bank
  19. Best company in CSR reporting: Media (Television, Print, Radio, Online): Channels TV
  20. The Seras’ innovation prize: Union Bank
  21. CSR/Sustainability practitioner of the year: winner; Olumide Orojimi (NSE), First runner-up; Omobolanle Victor Laniyan (Access bank), Second runner-up; Victoria Ndee Uwadoka (Nestle),
  22. Best new entry: Flour Mills
  23. Best use of storytelling to drive sustainability: Airtel
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MTN Offers 100% Bonus To Impacted Customers.

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GREATER ACCRA, GHANA (www.georgebritton.com) - Mobile telecommunication giant, MTN has once again apologized to customers for inconveniences caused by recent adjustments in its tariffs. The company also announced a 100 % bonus for all customers impacted by the recent issues. The announcement was made during a media briefing held yesterday at its Head Office in Accra.

The CEO of MTN Ghana, Selorm Adadevoh said, “we wish to assure our customers that we have implemented a minimum of a 100% bonus on all Data bundles purchased from December1st to midnight of December 3rd. This is to give customers more value and appease them for the issues they faced during the period. He said the bonus data had already started going out to affected customers.

As a result of the cessation of the upfront deduction of the Communications Services Tax, MTN did a tariff adjustment to enable the business pay the component of the CST to Government.

Whilst implementing the new tariff plan, MTN also introduced some changes on its menu which gives customers more flexible options to purchase data. Some of these run into system and technical challenges.

The CEO assured customers that the company was working to improve the experience and to rectify the challenges on Data bundles. He confirmed that the company was re-introducing some specific bundles including the GHC3 and GHC 10 bundles. He also confirmed that the issues on Pulse (mashup) and channels were also being resolved.

Mr. Adadevoh highlighted the company’s commitment to satisfying its customers whilst giving them value for money.

MTN Ghana is the market leader in the increasingly competitive mobile telecommunications industry in Ghana, offering subscribers a range of exciting options under Pay Monthly and Pay As You Go Services and Mobile Financial Services. The company has committed itself to delivering reliable and innovative services that provide value for subscribers in Ghana’s telecommunications market. Since its entry into Ghana in 2006, MTN has continuously invested in expanding and modernizing its network in order to offer superior services to a broad expanse of the nation.

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Prince Akpah Receives CEO Global’s Titan Building Nations Award.

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Founder & Managing Director of Avance Media, Prince Akpah who doubles as the founding president of the prestigious Africa Youth Awards has been awarded by CEO Global with the Titan Building Nations award in the Media category for Ghana and West Africa.

The award which recognises and celebrates individuals who play a major role in the development and growth of their country, as well as the African continent and its people, was held in Accra at the Golden Tulip Hotel on 28th October 2019.

The awards for being a country (Ghana) and regional (West Africa) was presented by the Chief Executive of CEO Global, Annelize Wepener to Prince Akpah amidst applause from the audience for being the youngest honouree on the entire continent for the 2019 edition.

“Nominees undergo a rigorous multi-tiered judging process” ,“The highest possible standard is maintained throughout the judging. Those individuals whom have been recognised as winners in their field can be assured that they have truly excelled” remarked Annelize Wepener-Chief Executive of the CEO Global Pan African Awards.

Named by MIPAD and the United Nations as one of the 2019 100 Most Influential People of African Descent, Prince Akpah is a multi-award winning entrepreneur who founded Avance Media which is currently one of the leading PR & Rating firms in Africa with project representation in 7 countries across the continent.

Notable among Avance Media’s works are the ranking of the 100 Most Influential African Women, Ghana Social Media Rankings, 50 Most Influential Young Ghanaians, Top 50 Young CEOs in Ghana, 100 Most Influential Young South Africans, 100 Most Influential Young Nigerians, 100 Most Influential Young Kenyans, 50 Most Influential Young Tanzanians, 50 Most Influential Young Congolese, Ghana Bloggers Summit etc.

As a speaker & consultant Prince has also delivered guest lectures at Central University and University of Professional Students, Accra on his entrepreneurial journey and has spoken to thousands of young people at various programs across the country.

The CEO Global Pan African Awards for the Titans-Building Nations are decided after a long vetting process in South Africa. All Regional winners from West Africa, East Africa and South Africa will be evaluated again for continental winners in the different categories.

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