The government has announced plans to source funding from domestic and international institutions to establish a Renewable Energy Investment Fund.

Mr John Abu Jinapor, the Minister of Energy and Green Transition, who announced this in a statement on the floor of Parliament on Tuesday, said the Fund would enable the Government to scale up production of clean and renewable energy technologies to reduce the cost of power in the country.

It would also help the nation to reduce dependency on the national electricity grid, he said.

To that end, the Minister said the government would set up a Solar Technology Resource Centre at the Ho Technical University to train and build capacity of students and Ghanaians in developing renewable energy technologies.

Mr Jinapor indicated that with abundant renewable and clean energy sources, it would serve as a catalyst for boosting industrialisation in Ghana.

He said government would like to revolutionise renewable energy technology to boost irrigation, agriculture, and industrialisation across the country.

Mr Frank Annor-Dompreh, the Member of Parliament for Nsawam Adoagyiri, while contributing to the statement, commended the Energy and Green Transition Minister, Mr John Abu Jinapor, for his Ministry’s commitment to continue with some of the previous NPP government’s renewable energy projects.

He was of the belief that adopting the concept of continuity of the past government’s policies would inure to the benefit of the people.

Source: GNA

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Mr Simon Madjie, the Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), has outlined plans of mapping the investment opportunities across all districts in Ghana.   

This is to enable the GIPC to build a comprehensive database of regional investment prospects and effectively market the opportunities during trade missions. 

“This will culminate in a detailed database on regional investment prospects, which the Centre and the Ministry can leverage during trade missions to court investors,” Mr Madjie said during a courtesy call on Mrs Elizabeth Ofosu-Adjare, the Minister of Trade, Agribusiness, and Industry. 

The visit was centered on collaborative strategies for enhancing Ghana’s business environment and attracting investment, a press release copied to the Ghana News Agency said on Friday. 

Mr Madjie called for collaboration that will result in the building of synergies among state agencies to streamline Ghana’s investment promotion efforts.  

A unified national strategy, he argued, was crucial for achieving the shared objective of positioning Ghana as the top business destination in the region. 

“To present a clearer picture of total investments attracted into the country, we must work with all relevant agencies to ensure accurate and comprehensive investment data,” he said. 

Mr Madjie highlighted opportunities for both local and foreign investors to capitalise on the Government’s “24-hour economy” policy and seamlessly integrate into the African Continental Free Trade Area (AfCFTA), offering access to a vast regional market.  

He, therefore, urged the Minister to support GIPC’s initiatives in achieving those goals. 

Madam Ofosu-Adjare reaffirmed her commitment to working closely with GIPC and other agencies under the Ministry to foster an ecosystem that is conducive for all businesses. 

She announced efforts to engage the leadership of agencies soon to develop a concrete action plan for strengthening partnerships and enhancing coordination. 

The Minister disclosed plans to launch the “Feed the Industry” project, aimed at ensuring that produce from commercial contract farmers directly supplies Ghanaian industries, thereby addressing raw material shortages.  

“This initiative presents exciting opportunities for collaboration between government agencies, private sector players, and investors,” she noted. 

She identified priority sectors ripe for investment and called on the GIPC and its partners to intensify efforts in channeling investments into those areas.  

Madam Ofosu-Adjare assured Mr Madjie of her support in driving GIPC’s mandate to enhance Ghana’s investment competitiveness. 

Source: GNA 

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Mr. Simon Madjie, the Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), has announced an operational realignment of investment priorities to bolster the government’s flagship “24-hour economy” policy.  

During his speech at a meeting with staff, Mr. Madjie emphasized that streamlining GIPC’s activities to support non-stop business operations would be critical to attracting global investors and accelerating economic growth.    

The CEO said central to this strategy was the modernization of the GIPC Act, a legislative review initiated under former leadership, which he pledged to finalize swiftly.  

He said the updated framework would introduce measures to expedite investor registrations, enhance digital service delivery, and align incentives with sectors pivotal to 24-hour operations, such as manufacturing, logistics, and technology.   

“To compete globally, we must ensure investors can operate seamlessly at any hour. This demands agile systems and collaborative governance,” he said.   

He said key reforms include slashing bureaucratic delays through inter-agency partnerships, particularly with regulators like the Registrar-General’s Department and the Ghana Revenue Authority.   

Mr Madjie said by harmonizing processes, GIPC aimed to enable after-hours business registrations, tax clearances, and permit approvals which are cornerstones of the 24-hour economy vision.    

The CEO revealed plans to establish regional investment desks across all 16 regions, staffed by directors tasked with identifying and promoting district-level opportunities suited for round-the-clock ventures.   

“From agribusiness processing in the Northern Region to tech parks in Greater Accra, we’re tailoring solutions that match investor needs with local potential,” he added.   

The CEO said complementing these efforts, GIPC would launch an ‘AfterTa Desk’ to leverage the African Continental Free Trade Area (AfCFTA), ensuring Ghanaian businesses and investors capitalize on continental market access.   

Mr. Madjie stressed that AfCFTA’s tariff reductions and trade corridors were key to   the 24-hour policy, enabling faster cross-border logistics and night-time production cycles.    

He promised capacity-building initiatives for GIPC staff and highlighted the need for “a skilled team equipped to handle investor inquiries and approvals at all hours.”  

He said training programmes on digital tools and investor relations would be prioritized to meet the demands of a non-stop economy.    

Mr. Madjie reaffirmed Ghana’s openness for business and called for private-sector collaboration to build infrastructure, such as reliable energy and digital networks, essential for sustaining 24-hour operations.    

Mr. Yofi Grant, Former CEO GIPC, who attended the handover ceremony, endorsed the strategy and urged staff to support Madjie’s vision.   

“The 24-hour economy is not just a slogan; it’s a transformative agenda. GIPC’s realignment will signal Ghana’s readiness to investors worldwide,” Grant said.  

Source: GNA   

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The Ghana Stock Exchange recorded a strong performance last year, with market capitalisation reaching GH¢111.36 billion by the end of 2024, according to the Bank of Ghana.

At its recent Monetary Policy Committee press briefing, the central bank stated that the Ghana Stock Exchange Composite Index (GSE-CI) gained 56.2 per cent on a year-on-year basis in December 2024, compared to a gain of 28.1 per cent for the same period last year.

“Market capitalisation increased to GH¢111.36 billion at end December 2024, compared to GH¢73.89 billion in the corresponding period of 2023,” the Bank said.

The Bank attributed the robust performance of the GSE-CI to improved investor sentiments, significant recovery in the profitability of listed financial institutions and improved liquidity on the market.

Currently, 37 companies are listed on the Ghana Stock Exchange, and they include financial, manufacturing, mining, trading, brewery, and pharmaceuticals.

By Emmanuel K Dogbevi

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Mr. Manish Gupta, Indian High Commissioner to Ghana, says Ghana remains the top choice for Indian investors, with nearly 900 projects established in the country over the past two decades.

Mr. Gupta stated that India is one of Ghana’s leading trade partners, with bilateral trade amounting to around $3 billion.  

He said that sectors such as agriculture, health, education, railways, SMEs, infrastructure, and telecom were prominent areas for Indian investment.  

Mr. Gupta made the remarks at a dinner reception organized by the High Commission to commemorate India’s 76th Republic Day and celebrate the 75th anniversary of the Indian Constitution. 

The event, which featured performances showcasing Indian culture, heritage, and history, was themed “Swarnim Bharat – Virasataur Vikas,” meaning Golden India – Heritage and Development.  

Mr. Gupta said that the celebration was not only about India’s achievements but also reflected the mutual progress of both India and Ghana as they worked towards building a more equitable and prosperous world.  

“People-to-people linkages are the bedrock of our relationship. The nearly 15000 strong Indian Ghanaian community and our ever-expanding circle of Ghanaian friends are the living bridges connecting our two countries. Now some Ghanaian players are playing in the Indian Football League,” he said. 

Mr. Gupta mentioned that India-Ghana bilateral relations had been deeply rooted in mutual trust and respect since the time of India’s first Prime Minister, Pandit Nehru, and Ghana’s first President, Kwame Nkrumah.  

He noted that this strong relationship had led to the construction of several key projects, including the Jubilee House, the Foreign Services Institute, and the Ghana India Kofi Annan Centre of Excellence in ICT, which had trained over 50,000 people in the past two decades.  

“Cooperation programme and Education Scholarships have a good uptake. In Ghana, the programme has an excellent uptake with over 4000 beneficiaries.  

“Our largest ever development partnership project in Ghana is the Tema-Mpakadan Railway Line with financing of around $450 million by the Indian EXIM Bank in 2024,” the High Commissioner said. 

The dinner reception was attended by various government officials, including Mr. Eric Opoku, Minister for Food and Agriculture, who was the Chief Guest, Samuel George, Minister-designate for Communication, Digital Technology and Innovation, and Madam Emelia Arthur, Minister for Fisheries and Aquaculture Development. 

Other dignitaries in attendance included Madam Shirley Ayorkor Botchwey, former Foreign Affairs Minister; Akua Sena Dansoa, former Minister for Youth and Sports; Mr. Albert Kofi Owusu, General Manager of the Ghana News Agency; and Samia Nkrumah, former Member of Parliament for Jomoro in 2008. 

Mr. Eric Opoku, speaking on behalf of the government, commended the Indian government for its invaluable contributions to Ghana’s socio-economic development over the years, and emphasised that future engagements would further strengthen the ties between the two countries. 

“India is the largest destination for Ghanaian exports. Ghana has a positive trade balance with India mainly due to the huge imports of gold by India which accounts for nearly 80 per cent of total imports from Ghana,” he said. 

Source: GNA  

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Foreign Direct Investment (FDI) plays a vital role in boosting the economic prospects of nations, including Ghana.

However, while FDI contributes significantly to growth, it also presents certain challenges, particularly, in the shipping sector, which is crucial for international trade and economic development. The implications of FDI for the shipping sector in Ghana, especially in respect of profit repatriation, can have far-reaching consequences on the local economy.

Dynamics of FDI in Ghana’s shipping sector

FDI has been a key driver in the modernisation of Ghana’s shipping and logistics infrastructure, attracting foreign shipping lines and international logistics companies to operate within the country. These investments typically result in the introduction of new technologies, improved operational efficiencies, and better access to global markets. However, a significant challenge arises in the form of repatriations of returns on investment, where foreign investors move back their profits from their businesses in Ghana, including Shipping Lines.

A significant factor to consider is that capital flight, driven by profit repatriation, can place a severe strain on Ghana’s economy. Shipping Lines operating in Ghana, almost all of which are owned by multinationals, are required to repatriate profits to their parent companies, particularly, if they are listed in foreign markets. While this practice is legally permissible, the cumulative effect of these repatriations can lead to detrimental outcomes for Ghana’s economy.

Even though shipping companies, especially those with substantial foreign ownership, generate considerable profits from their operations in Ghana, most of these profits are not re-invested in the country but are moved back to the home countries of these investors. This regular outflow of capital exacerbates the economic difficulties Ghana continues to face, particularly, in terms of foreign currency reserves and the stability of the local currency, the cedi.

Interestingly, these Shipping companies often set the pricing structure for the services they offer such as carriage, handling, and port operations, which can significantly impact the cost of shipping goods to and from Ghana. The substantial control they have on the shipping markets in our part of the world, most often than not, lead to imposition of high and unwarranted prices. This means that local businesses, particularly exporters, bear the brunt of rising shipping costs, which impacts negatively on the competitiveness of Ghanaian exports in the global market. Similarly, the increased costs of importing goods due to rising shipping charges put further strain on the local economy and contribute to inflation.

It can also be argued that foreign dominance in the shipping industry may also mean that Ghana’s local ports and infrastructure are largely shaped by the priorities of international companies. While the infrastructure improvements these companies bring to Ghana are significant, the extent to which they prioritise the local market often leaves much to be desired. For example, the high level of profit repatriation indicates a low appetite for additional investments in the local economy for the long-term development of Ghana’s shipping industry.

There is the need to distinguish between a few investments in port infrastructure, which involve huge capital outlays such as the construction or upgrading of physical assets like docks, terminals, cranes, or other port facilities and the establishment of commercial presence in Ghana in the areas of shipping agency, which require very little capital investments. Unfortunately, these shipping agents repatriate huge amounts in unwarranted fees and charges in the absence of a strong regulatory framework.

Lessons from regional and global perspectives

The challenges faced by Ghana due to FDI profit repatriation are not unique to the country. Several other countries, including Indonesia, Brazil, and Malaysia, have experienced similar financial instability caused by undesirable levels of capital outflows. For example, Indonesia’s 2013 currency crisis was significantly influenced by FDI profit repatriation, which undermined confidence in the economy. Similarly, Brazil’s currency depreciation in 2015-2016 was worsened by large-scale profit repatriation, highlighting the vulnerability of emerging economies to such practices.

These real-world examples underscore the importance of robust regulatory frameworks that can balance the benefits of FDI with the need to protect the domestic economy from destabilising effects of these enormous capital flows.

Role of Ghana Shippers’ Authority

The Ghana Shippers’ Authority (GSA) plays a pivotal role in regulating the shipping sector and ensuring that the interests of both local businesses and international shipping companies are balanced. Under the new GSA Act, 2024 (Act 1122), the Authority has been given the responsibility to adopt emerging trends in the global shipping and logistics market, thus ensuring a more transparent, predictable and efficient business environment.

The GSA, in partnership with other regulatory bodies, would promote a transparent and competitive environment in the shipping sector, which may address the challenges posed by FDI in Ghana’s shipping sector. A multi-faceted approach is needed through a strengthened regulatory framework and collaboration among all stakeholders in the shipping value chain.

Conclusion

FDI has the potential to transform Ghana’s shipping sector by bringing in capital, technology, and expertise. However, without careful regulation, the practice of profit repatriation can lead to severe economic challenges, including currency depreciation, capital flight, and financial instability. The Ghana Shippers’ Authority (GSA) has a vital role in mitigating these risks by ensuring effective oversight of shipping activities and promoting policies that balance the interests of foreign investors with the economic well-being of Ghana. With the right regulatory frameworks and collaboration between stakeholders, Ghana can harness the full potential of FDI in its shipping sector while safeguarding its long-term economic stability.

by Samuel Eshun

Source: GNA

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About $29.2 billion investment interests have been registered in three-days for various projects in Africa as the continent turns its needs into bankable and beneficial opportunities for investors. 

The investment interests were realised from 37 projects in 41 boardroom meetings in three days at the just ended 2024 Africa Investment Forum (AIF) market days in Rabat, Morocco. 

It covers projects in the areas of transport, power and energy, food and agribusiness, mining, pharmaceuticals, water and sanitation, urban infrastructure, and tourism, across various countries in Africa. 

At the Forum, some 15 new sponsors and partners, including banks, insurers and export credit in Africa and around the world, registered their interest in boosting investment on the continent. 

Dr Akinwumi Adesina, Chair of AIF and President of the African Development Bank (AfDB), said the development showed that the forum was becoming a global investment movement for Africa. 

He spoke at the closing press conference of the Africa Investment Forum.  

He stated that the over 2,300 investors and delegates from 83 countries, marking a 60 per cent increase in the number of participants from last year’s was “truly outstanding.”  

He highlighted $4.8 billion garnered for Nigeria’s Special Agro-Processing Zone, and other projects initiated by Morocco and the Democratic Republic of the Congo as examples of projects that drew investor interest higher than initially targeted. 

“The waves of the Africa Investment Forum are cascading investment ripples from Africa to all parts of the world,” Dr Adesina said, adding that Africa’s needs were no more challenges, but investment opportunities to all investors. 

The Chair of the Africa Investment Forum acknowledged the development of bankable projects, market risk, and cost of capital as some of the challenges associated with investments in Africa. 

However, he indicated that a strong partnership had been formed among various continental multilateral development financial institutions and governments to address them. 

Representatives of the Forum’s founding partners reaffirmed their commitment to deepening collaboration and enhancing the platform’s convening power to mobilise critical investments for Africa. 

“The highlights you know of success is when people are joining the form as partners… and we’re building on more transactions for Africa’s sustainable economic growth and development,” Madam Boitumelo Mosako Chief Executive Officer (CEO), Development Bank of Southern Africa (DBSA), said. 

At the closing ceremony of the AIF, Mad Nadia Fettah Alaoui, Morocco’s Minister of Economy and Finance, praised the Forum’s achievements, saying, “it’s a major catalyst and a successful and unique platform for investment and for accelerating the transformation of Africa.” 

She encouraged the African diaspora to contribute more the development goals of the continent, saying, “In Africa, the future is happening. We have good projects, we have energy and enthusiasm and we have the money to finance your projects.” 

Speaking exclusively with the Ghana News Agency, Mr Roger Stuart, the Head of Regional Hub for West and Central Africa, European Investment Bank, urged the partners to accelerate the closure of various deals and see to their full implementation.  

“For all the deals to close, you need all the metrics to line up to so that everyone has done the risk allocation and financiers are comfortable that they that they’re it’s a solid investment,” he said.  

Source: GNA 

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The UK-funded Jobs and Economic Transformation (JET) Programme has partnered with Uhuru Investment Partners (Uhuru) to invest £12m of private capital in Cresta Paints.

The investment is to scale production and access new markets for the automotive refinish subsector.

JET is a UK flagship industrialisation-led programme that seeks to support Ghana in growing its manufacturing and industrial sectors through technical assistance for investment policy reforms and investment promotion into key sectors.

The Programme, which is implemented by the Palladium Group, also helps accelerate manufacturing investments in priority sectors, including automotive, to drive industrial growth and Ghana’s competitiveness. 

A press statement issued by the UK Foreign, Commonwealth, and Development Office (FCDO) and made available to the Ghana News Agency, said Ghana had already leveraged over £60m in Foreign Direct Investment in auto assembly.

It said it was looking to develop and unlock opportunities in downstream sectors such as auto-refinish products and component manufacturing.

The statement said Ghana’s emerging automotive industry, projected to grow to $11 billion by 2028, offered significant opportunities for industrial growth and job creation.

It said this initiative was part of the UK’s support for Ghana’s economic transformation ambitions, which were focused on increasing manufacturing and value addition to create sustainable jobs. 

“In addition to JET, the deal benefited from the UK’s Development Finance Institution, British Investment International, one of the founders of Uhuru Investment Partners,” it added.

The statement said the JET team partnered with Uhuru to provide technical assistance to Cresta Paints, accelerating Uhuru’s investment in Cresta Paints, such that the investment signaled significant momentum within Ghana’s automotive sector.

The statement said it positioned Cresta Paints as a key player in the region’s automotive refinish segment, and that with presence across 12 West African markets, Cresta Paint’s expansion within Ghana would enhance its production capabilities.

It said Cresta Paints employed approximately 140 staff, many young Ghanaians, who received training as part of Cresta Paints’ commitment to skills development and economic empowerment.

“The company’s planned expansion will create a further 250 formal high-quality new jobs, enhance Ghana’s exports of auto re-finish products, and provide importation substitution opportunities”

“Companies such as Cresta Paints can support the automotive assembly sector as a downstream supplier as the industry progresses towards sourcing more parts locally,” it added.

Mr. Richard Sandall, FCDO Development Director, said the UK was delighted with this investment, and that it was made possible by two of the UK’s flagship development offers in Ghana, which combined to great effect.

He said the collaboration demonstrated how strategic partnerships could catalyse economic development, scale businesses, and create sustainable jobs.

Nana Adow Dankwa, Partner, Uhuru Investment Partners, said they were passionate about identifying and supporting businesses that drove meaningful impact across West Africa.

“As we look to the future, our continued partnership with JET will strengthen Cresta Paints’ manufacturing capacity, drive innovation, catalyse growth and create sustainable job opportunities in Ghana’s automotive sector,” he added.

Source: GNA

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The Institute of Economic Affairs (IEA) has urged the government to consider local investors for the sale of the Newmont Akyem Gold Mine when the lease with the Company expires in January, next year.

Citing national security concerns, the Institute advised that the government limited foreign investors’ stake in the critical minerals sector to safeguard the country’s economic interests and national security.

It has, therefore, cautioned against a a planned sale of the Gold Mine to Zijin Mining Group of China for US$1.0 billion, as reported by the Business Times on October 9, 2024.

“IEA sees the deal to be flawed in several respects, inimical to Ghana’s interest and unacceptable,” it stated regarding the purported new lease.

In a media statement, issued on Monday, the IEA thus urged the government to act in the interest of Ghanaians by considering local investors and negotiating a good deal in the national interest.

It said that it was not opposed to foreign investments, but believed that Ghana should maintain dominant control over its mining sector to ensure that the associated wealth benefited the country.

The existing lease agreement between the Ghanaian government and Newmont was signed on January 19, 2010, with a 15-year validity that expires on January 19, 2025, it explained.

The agreement allowed for transfer of the lease during this period, but only with mutual consent from the government and Newmont.

The Institute said that any sale of the mine must occur under these conditions and apply only to the unexpired term of the lease.

The IEA said that Newmont was obligated to return the mine to the government upon lease expiration, and any company interested in operating the mine after January 2025 must negotiate a new agreement with the Government.

The IEA, however, noted that it was unaware of any agreement between the government and Newmont for the transfer of the lease to Zijin, nor had Newmont sought an extension of the lease.

The Institute proposed amendment to Article 257(6) of the Constitution that vests Ghana’s natural resources in the President on behalf of, and in trust for, the people which seems to give [the president] a “carte blanche to sign the resources away at will.”

“The natural resources should rather be vested in the state and every contract should require Parliamentary ratification as per Article 268(1) of the Constitution,” it said.

It also proposed an amendment to the Minerals and Mining Act, 2006 (Act 703), to prohibit governments from signing contracts of significant value during the last six months of their term.

This, they believed, would “prevent any incumbent administrations from signing eleventh-hour contracts in favour of their families, friends or cohorts, or for personal gain.”

Source: GNA

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Ecobank Ghana has invested about GH¢2.2 million in four educational institutions in Ghana to mark the bank’s flagship programme “Ecobank Day.”

Ecobank Day is the bank’s annual group-wide social impact initiative led by the Ecobank Foundation to give back to the communities where Ecobank operates, not just in Ghana but also across 32 other African countries.

Speaking on behalf of the Managing Director, Ecobank Ghana, Mrs Abena Osei Poku, the Managing Director, Pan Africa Savings and Loans, Madam Emelia Atta-Fynn, said that Ecobank Ghana over the years had made significant contributions through this initiative by mobilising their employees from Ecobank Ghana, Pan African Savings and Loans, EDC and E-Process International to engage in community development programmes across the country.

Madam Atta-Fynn said that Ecobank Ghana PLC last year launched a 3-year programme with a global theme, “Transforming Africa through Education. ”

“We focused on digital literacy and equipped 10,000 children with digital skills across our geographical footprint in Africa,” she disclosed.

She indicated that the 2024 edition of Ecobank Day was built on the last year’s success with the theme “Ignite Learning through AI” focusing on how AI could be harnessed to help improve the skills children in literacy, numeracy and digital literacy at the foundational learning levels.

She stressed that Artificial Intelligence (AI) had the potential to transform education, making it more personalised, accessible and effective than ever before.

“Take ChatGPT, for example, an AI tool that can provide instant feedback, personalised learning experiences, and even tutoring in various subjects. It is capable of adapting to individual learning styles, helping students grasp complex concepts at their own pace, and offering support in areas where they may struggle.

This is just one example of how AI is transforming the educational landscape, opening new doors for learners and teachers everywhere,” she said.

Madam Atta-Fynn maintained that AI powered platforms could democratise learning, making high-quality resources available to students from all walks of life, breaking down language barriers.

She again noted that AI could act as a virtual assistant for teachers taking over administrative tasks, analysing students’ performances, and helping to create engaging lesson plans.

She was of the firm belief that integrating AI with the support from the Ghana Code Club into a teaching curriculum would allow educators to focus on what they do best, inspire, and guide the youth to harness their full potential.

She professed that in years to come, people would look back at the current era to remark on the relentless and rapid technological advancements which had changed expectations and altered so many other areas of life, from social interactions to new found job functions and always on connectivity.

She said it was essential to ensure that Ghana’s children were equipped with basic literacy, numeracy, and digital skills at an early age to provide them with the right foundation for their future.

“This will help them to thrive at school, gain the skill set that will prepare them for the rapidly evolving digital age, and broaden their employment and life opportunities, ” she added.

She, however, expressed appreciation to the Ghana Code Club for the partnership and the support to offer free 6 months tuition, starting with Potter’s Village at Dodowa.

Addressing the students of Potter’s Village Home-Ghana, Madam Emelia Atta-Fynn urged them to learn to read, count, and write well as well as acquire digital skills as the world had become increasingly digital.

“I encourage you to make the most of the available AI-based educational tools as they can fuel your passion for reading, strengthening your numeracy skills, and empowering you with digital skills.

These skills are keys for your future. Once you learn them, don’t stop there, keep learning, practise your skills, and always be curious about new ideas and inventions; that’s how you will remain relevant and competitive in future years. I urge you to take this seriously,” she said.

Ecobank Ghana PLC, Pan African Savings and Loans, EDC, and E-Process International together as Ecobank donated to Potter’s Village ICT Laboratory which was refurbished last year and now converted to digital centre.

Ecobank also donated free Internet connectivity, free tuition for 6 months on Web development, animation, robotics, and artificial intelligence and finally, library furniture and supplementary readers for upper primary and JHS students.

A similar presentation was made simultaneously at South Labone Girls Technical Institute in Accra.

“We are also cutting Sod today to begin the refurbishment of an ICT Lab each at Bishop Asua Catholic Basic School, Takoradi in the Western Region and 4 Garrison Educational Centre in Kumasi in the Ashanti Region,” she mentioned.

She hinted that when the projects were completed, each of the institutions would be equipped with a digital centre, free Internet connectivity, free tuition for 6 months on Web development, animation, robotics and artificial intelligence as well as a wide range of supplementary readers for upper primary and JHS students.

“We are investing about GH¢2.2 million in these four projects in 2024 alone,” she disclosed.

She acknowledged that Ecobank Day since its inception in 2013 would not have ever been possible without the enthusiasm and commitment of Ecobankers and the media.

The President of the Potter’s Village, Pastor Mrs Nana Ama Adu Owusu said that the Ecobank Day marked a significant step towards fulfilling a shared dream to equip the children with tools and skills that they need to thrive in the world increasingly driven by technology.

Mrs Nana Ama Adu Owusu noted that Ecobank Day theme: “Ignite Learning with AI” could not have come at a better time as Africa continued to address the challenges like illiteracy and limited access to modern educational tools.

She added that it was an initiative like this that bridged the gap, ensuring that every child had an opportunity to participate fully in the future of work.

Commenting on the refurbished ICT Lab, the President of Potter’s Village said that it would not just serve as a computer centre but a hub for learning AI, robotics, coding and creative technology.

“With additional support from Ghana Code Club, our children and teachers will explore new frontiers of knowledge, opening doors of innovative thinking and problem solving,” she acknowledged.

Beyond technology, she said the initiative was a testament to the power of partnerships when institutions like Ecobank Ghana PLC go beyond business to create a lasting social impact.

“Your investment in our children’s future will not only enhance their learning experience today, but it will also position them to become leaders and innovators in tomorrow’s communities.

Your commitment to empowering young minds is inspiring, and your willingness to train teachers to integrate technology into their classrooms will surely leave an enduring impact, ” she appreciated.

She underscored that “As we Ignite Learning with AI, let’s remember that education is not just about acquiring knowledge but also about empowering every child to dream to innovate and to create a better future.”

Deputy District Director, Ghana Education Service at Dodowa, Mr Gideon Maya, speaking on behalf of his boss, Madam Harriet Lomotey, said that the Ghana Education Service had resolved to help champion this AI course and lend the needed support to institutions like Potter’s Village that had decided to integrate AI into their curriculum.

He said that the AI formed parts of the GES curriculum, including critical thinking, communication skills, creativity, problem solving skills, literacy, numeracy technology, and digital literacy.

Mr Maya commended Ecobank Ghana PLC for spearheading such initiative to enhance learning and foster innovations in the classrooms as well as improve the teachers’ role in classroom dynamics.

He charged Potter’s Village to utilise the facilities to the fullest, admonishing the management of the institution to take proper care of the facilities for use by the current learners and for prosperity.

The Board Chairman for Potter’s Village, Mr Samuel Deku-Otoo, on the other hand, said that the ICT Laboratory would undoubtedly equip the children with essential digital skills, unlocking new opportunities and bridged communication or technology gap.

“Indeed, your investment into our future leaders will undoubtedly leave an indelible ink or input in the lives of our children. We are deeply grateful to Ecobank PLC for this remarkable gesture,” he said.

He, however, invited other corporate organisations to emulate the exemplary gesture of Ecobank Ghana PLC.

Source: GNA

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