The current rising fire outbreaks and road accident cases in the country is not only killing hundreds, miaming thousands and destroying properties running into m millions, they are eating deep into the reserves of insurance companies too. Maxwell Adombila Akalaare reports
INSURANCE companies nation-wide are tightening up their respective operations to meet the increasing number of motor and fire related claims that continue to flood their respective offices.
The number of road accident cases and fire outbreaks recorded in the country throughout 2010 and that of the first quarter of this year alone can attest to this fact.
“We insurance companies, are of course overwhelmed by the rising fire and motor related claims that we have to deal with due to the rise in accident and fire outbreak cases,” Head of Sales and Marketing at the State Insuarance Company (SIC), Mr Winfred Kwasi Dodzih told the Graphic Business in an interview.
Though his outfit would not readily provide figures on the rising claims sort for by the insured fire and road accident victims, Mr Dozih said they were “eating deep into the reserves of insurance companies nation-wide.
“Upon the high claims that we are paying, SIC is still delighted,” he said.
Mr Dodzih observed that despite the various provisions being made by the insurance companies towards claim payments on event of need, the present incidence were overwhelming to the sector.
According to Mr Dodzih, SIC, the market leader of the nation’s insurance sector would have wished to mobilise more funds through premiums to support the governments development agenda “but paying for these rising claims means the company’s funds are been used up.”
He further noted that though insurance companies and SIC for that matter where of the view that fire and motor related cases are risks that needed to be insured against, the rampant fire and motor accident cases where wiping away the sector’s premiums “due to the heavy claims being paid.”
Road accident cases have been mounting throughout 2009 to 2010. The trend continued in the first four months of this year, leading to 5,340 road accidents been recorded out of which 740 people died while 4,950 people sustained various degrees of injuries.
Road accidents are currently estimated to be causing the nation about 1.7 per cent of the country’s 2010 Gross Domestic Product (GDP), the monetary value of all goods and services produced within the country.
The situation is not different with regards to fire outbreaks, both within corporate institutions and individual residential areas.
A number of corporate and residential houses have been raised down in recent times cause these victims to fall on their insurance companies for help.
“The claim figures for both fire and motor cases has risen of late,” the Head of Sales and Marketing at SIC noted adding that SIC’s figures on the fire and road accident claims was readily not available to support such an assertion.
The National Insurance Commission (NIC), which tracks information relating to operations in individual insurance companies in the country equally could equally not provide the said data.
In the case of motor accident cases, Mr Dodzih said third party claims, claims paid to fee paying passengers for destructions done to their properties or lives while in an insured vehicle had risen significant, a situation he said was resulting from thehuge amounts paid as claims to the little premiums paid by the driver of the vehicle involved in the accident.
He, however bemoaned the lack of insurance culture in the country and called on both corporate Ghana and individuals to eadeavour to “atleast take up a
He said SIC and other insurance companies for that matter donot place value on human beings “but we compesate it in cases of death or destruction.
He noted that the present modernisation in the industry, particularly in the operations of SIC to meet the time needs and convenience of the Ghanaian public left no room for any individual not to get insured.
“We at SIC have just come up with the ‘SIC @Your Door’ service in which we seek to bring insurance policies to the comfort of the insuring public. So why would anybody nopt be willing to tak up atleast a fire policy which is even cheap,” he asked
Sunday, June 26, 2011
Aluworks records fourth straigh loss
The Auworks Limited, an aluminium smelting company in the country is hoping to return to profit after recording its fourth straight loss in 2010. The company is recovering but rather on a steady pace. Maxwell Adombila Akalaare reports
ALUWORKS LIMITED has, for the fourth year running posted an end-of-year loss of GH¢7.350 million in its 2010 operations.
The 2010 loss is however a GH¢0.655 million better that the previous year’s loss of GH¢8.005 million, indicating a 8.9 per cent improvement in the company’s 2010 operations.
Following the loss, the company’s Board of Directors have consequently not fixed dividend for 2010, a decision the board said was “regrettable.”
Mr Kwadwo Kwarteng, the Board Chairman of Aluworks explained at Aluworks’s annual general meeting in Accra that the company’s 2010 loss was attributed to the low volumes of productions and sales recorded in the year.
He was meanwhile hopeful that the company would witness a significant break-through in its productions and revenue mobilisation in the 2011 operational year “following the return to supplies by the Volta Aluminium Company.”
The Board Chair noted disclosed that the company has at the moment done close to 80 per cent of its entire 2010 operations just within the first five months of this year, an improvement he said was mainly due to the revitalisation of the Volta Aluminium Company Limited (VALCO) after it was closed down around 2005.
VALCO’s closer had induced operational challenges for the Aluworks, key among which was Aluworks having to outsource its raw materials at a much higher cost than it use to get from VALCO.
The company’s weak financial stand mainly due to its five straight end-of-year operation losses equally didi not help matters, partly causing it to import just 5,748 tonnes of aluminium ingots which is far less than half of the company’s upgraded production capacity of 20,000 metric tonnes.
Due to Aluworks’s staggering financial stand, the company embarked on a Rights Issue in 2010 of which it hoped to raise sufficient funds to support its hiked cost of production.
The said Rights Issue was, however, not successful, after it managed to raise just 67 per cent of the targeted funds.
Aside the company producing below capacity resulting from its inability to import sufficient raw materials to sustain its operations, Aluworks is also battling with influx of relatively lower priced products from China into the country.
Mr Ernest Kwasi Okoh, CEO of the Aluworks said “the blockage caused by the influx of cheap Chinese products” partly caused the company to sell only 4,786 tonnes of products in 2010, indicating a 1,214 short-fall of the company’s estimated break-even point of 6,000 tonnes.
Looking ahead, the CEO said “2011 has started quite well and we believe it will be a break through for our operations.”
He said though the revitalisation of VALCO was likely to cut down the Aluworks’ operational cost by 36 per cent in 2011 and ensure it reliable supply of ingots for onward production, the company was now faced with problem of selling its finished products in the Ghanaian market due to the flooded Chinese products.
“If the Chinese problem is solved, 2011 would surely be a profitable year for us,” Mr Okoh.
While thanking the government for bringing back VALCO, the Aluworks CEO said government needed to apply the World Trade Organisations (TWO) counter-prevailing measures on the cheap Chinese products to enable a fair environment for both products in the market.
“The Chinese products have enjoyed illegal export-rebates for far too long,” Mr Okoh noted and thus called on government and other relevant authorities to act now to save the local aluminium industry from a depression induced by cheap Chinese products.
ALUWORKS LIMITED has, for the fourth year running posted an end-of-year loss of GH¢7.350 million in its 2010 operations.
The 2010 loss is however a GH¢0.655 million better that the previous year’s loss of GH¢8.005 million, indicating a 8.9 per cent improvement in the company’s 2010 operations.
Following the loss, the company’s Board of Directors have consequently not fixed dividend for 2010, a decision the board said was “regrettable.”
Mr Kwadwo Kwarteng, the Board Chairman of Aluworks explained at Aluworks’s annual general meeting in Accra that the company’s 2010 loss was attributed to the low volumes of productions and sales recorded in the year.
He was meanwhile hopeful that the company would witness a significant break-through in its productions and revenue mobilisation in the 2011 operational year “following the return to supplies by the Volta Aluminium Company.”
The Board Chair noted disclosed that the company has at the moment done close to 80 per cent of its entire 2010 operations just within the first five months of this year, an improvement he said was mainly due to the revitalisation of the Volta Aluminium Company Limited (VALCO) after it was closed down around 2005.
VALCO’s closer had induced operational challenges for the Aluworks, key among which was Aluworks having to outsource its raw materials at a much higher cost than it use to get from VALCO.
The company’s weak financial stand mainly due to its five straight end-of-year operation losses equally didi not help matters, partly causing it to import just 5,748 tonnes of aluminium ingots which is far less than half of the company’s upgraded production capacity of 20,000 metric tonnes.
Due to Aluworks’s staggering financial stand, the company embarked on a Rights Issue in 2010 of which it hoped to raise sufficient funds to support its hiked cost of production.
The said Rights Issue was, however, not successful, after it managed to raise just 67 per cent of the targeted funds.
Aside the company producing below capacity resulting from its inability to import sufficient raw materials to sustain its operations, Aluworks is also battling with influx of relatively lower priced products from China into the country.
Mr Ernest Kwasi Okoh, CEO of the Aluworks said “the blockage caused by the influx of cheap Chinese products” partly caused the company to sell only 4,786 tonnes of products in 2010, indicating a 1,214 short-fall of the company’s estimated break-even point of 6,000 tonnes.
Looking ahead, the CEO said “2011 has started quite well and we believe it will be a break through for our operations.”
He said though the revitalisation of VALCO was likely to cut down the Aluworks’ operational cost by 36 per cent in 2011 and ensure it reliable supply of ingots for onward production, the company was now faced with problem of selling its finished products in the Ghanaian market due to the flooded Chinese products.
“If the Chinese problem is solved, 2011 would surely be a profitable year for us,” Mr Okoh.
While thanking the government for bringing back VALCO, the Aluworks CEO said government needed to apply the World Trade Organisations (TWO) counter-prevailing measures on the cheap Chinese products to enable a fair environment for both products in the market.
“The Chinese products have enjoyed illegal export-rebates for far too long,” Mr Okoh noted and thus called on government and other relevant authorities to act now to save the local aluminium industry from a depression induced by cheap Chinese products.
1st qtr GDP backs yearly trend
GHANA’S industrial activities have barely experienced strong take-offs in the first and second quarters of every year. As for the agriculture sector, recording negative contributions to first quarter Gross Domestic Products (GDP) has often been a culture. In this report, Maxwell Adombila Akalaare looks at how these two factors influenced the performance of the economy in the first quarter of 2011.
THE sluggish nature of industries and companies coupled with the characteristic weak performance of the agriculture sector in the first quarter of every year has consequently dragged the economy backward, causing it to record a decline of 5.1 per cent in the first quarter of 2011.
The country’s GDP estimates for the first quarter of 2011 thus fell to GH¢6.66 billion, down by GH¢3.56 billion from the fourth quarter of 2010’s figure of GH¢7.02 billion.
The Government Statistician disclosed these at a media briefing in Accra to announce the first quarter GDP estimates of 2011 and the Producer Price Index (PPI) for May.
For six years running, first quarter GDP has often fell, a situation the Government Statistician attributed to “the strong seasonal nature of the agriculture sector,” a major contributor to the country’s GDP figures.
Industry, however recorded growth rate of 21.4 per cent, a significant leap from the previous quarter’s rate of 3 per cent while services grew by 5.3 per cent, a 2.9 per cent rise from the 2010 fourth quarter growth rate of 2.4 per cent.
These hikes in the services and industry sectors where however not enough to offset the abysmal performance of the agric sector and subsequently caused overall GDP to slope.
“The negative growth in GDP is characteristic of the first and second quarters of each year,” Dr Bediako said adding that the cyclical trend in the country’s agriculture output in the first quarters had caused the sector’s output to decline by 35.7 per cent from last quarter of 2011.
In the first quarter of 2010, agriculture sector declined by 53 per cent and thus caused GDP for that quarter to decline to GH¢5.42 billion from the fourth quarter of 2009’s GDP estimates of GH¢6.41 billion.
The economy’s over reliance on the agric sector is thus a major contributor to this yearly dip in the country’s first quarter GDP.
On year-on-year outlook, however, the situation was positive. Year-on-year GDP which measures the monetary value of goods and services produced in the first quarter of this year as compared to those produced in the first quarter of 2010 was valued at GH¢6.66 billion, up by GH¢1.24 billion from the 2010 first quarter GDP of GH¢.,42 billion.
The massive rise in 2011 first quarter when compared with that of 2010 was hugely influenced by significant growth rates recorded in the crops (mainly cocoa), mining and quarrying (influenced by crude oil production), manufacturing, construction as well as other sub-sectors.
Meanwhile, the month-on-month Producer Inflation which measures the monthly average changes in the (factory gate) prices received by domestic producers and manufacturers for their goods and services rose by 0.74 per cent in May from the April month-on-month rate of 0.63 per cent.
Consequently, domestic producers and manufacturers received higher factory gate prices (prices fixed and received by manufacturers and producers at the factory gate prior to them getting into the hands of wholesalers) for their respective goods and services produced within May as compared to those received in April.
The year-on-on-year producer inflation, however, declined to 23.80 per cent in May, the first fall in the producer inflation in thirteen months.
The May producer inflation of 23.80 per cent indicated a 0.49 per cent decline compared to the April rate of 24.29 per cent.
Year-on-year producer inflation has been witnessing a consistent rise in the past 12-months, with the highest rate recorded in April this year.
In the sector by sector outlook, the utilities sector recorded the highest year-on-year inflation change of 71.84 per cent while the manufacturing sector recorded 32.60, the least in the sector by sector outlook.
Mining and quarrying, however recorded the highest monthly producer inflation changes of 1.36 per cent with the utilities sector recording a no change, the lowest in the sector-by-sector comparison.
THE sluggish nature of industries and companies coupled with the characteristic weak performance of the agriculture sector in the first quarter of every year has consequently dragged the economy backward, causing it to record a decline of 5.1 per cent in the first quarter of 2011.
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| Dr Kwabena Duffuor, Minister of Finance and Economic Planning |
The country’s GDP estimates for the first quarter of 2011 thus fell to GH¢6.66 billion, down by GH¢3.56 billion from the fourth quarter of 2010’s figure of GH¢7.02 billion.
The Government Statistician disclosed these at a media briefing in Accra to announce the first quarter GDP estimates of 2011 and the Producer Price Index (PPI) for May.
For six years running, first quarter GDP has often fell, a situation the Government Statistician attributed to “the strong seasonal nature of the agriculture sector,” a major contributor to the country’s GDP figures.
Industry, however recorded growth rate of 21.4 per cent, a significant leap from the previous quarter’s rate of 3 per cent while services grew by 5.3 per cent, a 2.9 per cent rise from the 2010 fourth quarter growth rate of 2.4 per cent.
These hikes in the services and industry sectors where however not enough to offset the abysmal performance of the agric sector and subsequently caused overall GDP to slope.
“The negative growth in GDP is characteristic of the first and second quarters of each year,” Dr Bediako said adding that the cyclical trend in the country’s agriculture output in the first quarters had caused the sector’s output to decline by 35.7 per cent from last quarter of 2011.
 |
| Dr Grace Bediako is Ghana Government Statistician |
In the first quarter of 2010, agriculture sector declined by 53 per cent and thus caused GDP for that quarter to decline to GH¢5.42 billion from the fourth quarter of 2009’s GDP estimates of GH¢6.41 billion.
The economy’s over reliance on the agric sector is thus a major contributor to this yearly dip in the country’s first quarter GDP.
On year-on-year outlook, however, the situation was positive. Year-on-year GDP which measures the monetary value of goods and services produced in the first quarter of this year as compared to those produced in the first quarter of 2010 was valued at GH¢6.66 billion, up by GH¢1.24 billion from the 2010 first quarter GDP of GH¢.,42 billion.
The massive rise in 2011 first quarter when compared with that of 2010 was hugely influenced by significant growth rates recorded in the crops (mainly cocoa), mining and quarrying (influenced by crude oil production), manufacturing, construction as well as other sub-sectors.
Meanwhile, the month-on-month Producer Inflation which measures the monthly average changes in the (factory gate) prices received by domestic producers and manufacturers for their goods and services rose by 0.74 per cent in May from the April month-on-month rate of 0.63 per cent.
Consequently, domestic producers and manufacturers received higher factory gate prices (prices fixed and received by manufacturers and producers at the factory gate prior to them getting into the hands of wholesalers) for their respective goods and services produced within May as compared to those received in April.
The year-on-on-year producer inflation, however, declined to 23.80 per cent in May, the first fall in the producer inflation in thirteen months.
The May producer inflation of 23.80 per cent indicated a 0.49 per cent decline compared to the April rate of 24.29 per cent.
Year-on-year producer inflation has been witnessing a consistent rise in the past 12-months, with the highest rate recorded in April this year.
In the sector by sector outlook, the utilities sector recorded the highest year-on-year inflation change of 71.84 per cent while the manufacturing sector recorded 32.60, the least in the sector by sector outlook.
Mining and quarrying, however recorded the highest monthly producer inflation changes of 1.36 per cent with the utilities sector recording a no change, the lowest in the sector-by-sector comparison.
Economy expands in first quarter
THE first quarter of 2011 saw the country’s economy expanding by 23 per cent when compared to the same quarter in 2010.
The year-on-year Gross Domestic Product (GDP) which measures the monetary value of goods and services produced in the first quarter of this year as compared to those produced in the first quarter of 2010 was valued at GH¢6,660.3 million, up by GH¢1,244.9 million from the 2010 first quarter GDP which stood at GH¢5,415.4 million.
The rise in the year-on-year GDP figures in 2011 when compared with those of 2010 was massively influenced by significant growth rates recorded in the crops (mainly cocoa), mining and quarrying (influenced by crude oil production), manufacturing, construction as well as other sub-sectors.
At a news conference in Accra to announce the GDP estimates for the first quarter of 2011, the Government Statistician, Dr Grace Bediako, said the quarter-on-quarter GDP estimates - comparing growth in the economy in the first quarter of 2011 with that of the last quarter of 2010, however, recorded a decline of 5.1 per cent.
She noted that the decline in the quarter-on-quarter GDP estimates was virtually characteristic of every first and second quarters of previous years and largely attributable to the weak performance in the agriculture sector resulting from the sector’s seasonal production pattern.
“The cyclical trend in agriculture output in the first quarter led to a decline of 35.7 per cent in that sector,” Dr Bediako said adding that all the agricultural sub-sectors further witnessed declines ranging from 19.5 per cent to 41.3 per cent.
For the past five years, first quarter GDP has been witnessing negative growth rates, a situation the government statistician said was mainly due to the heavy decline in the agriculture sector within those periods and the sluggish nature of industry, companies and economic activities in the country during the first four months of every year.
On the quarter-on-quarter sectorial GDP outlook, the agriculture sector, thus, recorded the least growth, contributing only GH¢1479.9 million to the first quarter GDP which represents a negative growth of 35.7 per cent.
The industry sector, however, recorded the highest growth rate of 21.4 per cent, contributing GH¢1,607 million to the first quarter of 2011 GDP estimates.
According to Dr Bediako, the significant rise in the industry sector’s contribution to the first quarter GDP of 2011 , higher than the other two sectors - services and agriculture, was hugely due to high growth recorded in the mining and quarrying sub-sectors coupled with the introduction of crude oil production, a situation she said increased the sub-sector’s output by 136.1 per cent.
She added that growth in the service industries was up by 5.3 in the first quarter of 2011, leading to the sector’s GH¢3,185.1 million contribution to the 2011’s first quarter GDP.
Meanwhile, the month-on-month Producer Inflation, which measures the monthly average changes in the (factory gate) prices, received by domestic producers and manufacturers for their goods and services rose by 0.74 per cent in May from the April month-on-month rate of 0.63 per cent.
Consequently, domestic producers and manufacturers received higher factory gate prices (prices fixed and received by manufacturers and producers) for their respective goods and services produced within May as compared to the rates received in April.
She, however said the year-on-year rate declined to 23.80 per cent in May from the April figure of 24.29 per cent, the first fall in the producer inflation in thirteen months.
The May producer inflation of 23.80 per cent indicated a 0.49 per cent decline compared to the April rate of 24.29 per cent.
Year-on-year producer inflation has been witnessing a consistent rise in the past 12 months, with the highest rate recorded in April this year.
In the sector by sector out of the PPI, the Government Statistician said the highest year-on-year price change of 71.84 per cent was recorded in the utilities sub-sector while the manufacturing sub-sector recorded 32.60, the least in the sector by sector outlook.
Mining and quarrying however recorded the highest monthly producer inflation change of 1.36 per cent followed by utilities recording a no change, the lowest in the sector-by-sector comparison.
The year-on-year Gross Domestic Product (GDP) which measures the monetary value of goods and services produced in the first quarter of this year as compared to those produced in the first quarter of 2010 was valued at GH¢6,660.3 million, up by GH¢1,244.9 million from the 2010 first quarter GDP which stood at GH¢5,415.4 million.
The rise in the year-on-year GDP figures in 2011 when compared with those of 2010 was massively influenced by significant growth rates recorded in the crops (mainly cocoa), mining and quarrying (influenced by crude oil production), manufacturing, construction as well as other sub-sectors.
At a news conference in Accra to announce the GDP estimates for the first quarter of 2011, the Government Statistician, Dr Grace Bediako, said the quarter-on-quarter GDP estimates - comparing growth in the economy in the first quarter of 2011 with that of the last quarter of 2010, however, recorded a decline of 5.1 per cent.
She noted that the decline in the quarter-on-quarter GDP estimates was virtually characteristic of every first and second quarters of previous years and largely attributable to the weak performance in the agriculture sector resulting from the sector’s seasonal production pattern.
“The cyclical trend in agriculture output in the first quarter led to a decline of 35.7 per cent in that sector,” Dr Bediako said adding that all the agricultural sub-sectors further witnessed declines ranging from 19.5 per cent to 41.3 per cent.
For the past five years, first quarter GDP has been witnessing negative growth rates, a situation the government statistician said was mainly due to the heavy decline in the agriculture sector within those periods and the sluggish nature of industry, companies and economic activities in the country during the first four months of every year.
On the quarter-on-quarter sectorial GDP outlook, the agriculture sector, thus, recorded the least growth, contributing only GH¢1479.9 million to the first quarter GDP which represents a negative growth of 35.7 per cent.
The industry sector, however, recorded the highest growth rate of 21.4 per cent, contributing GH¢1,607 million to the first quarter of 2011 GDP estimates.
According to Dr Bediako, the significant rise in the industry sector’s contribution to the first quarter GDP of 2011 , higher than the other two sectors - services and agriculture, was hugely due to high growth recorded in the mining and quarrying sub-sectors coupled with the introduction of crude oil production, a situation she said increased the sub-sector’s output by 136.1 per cent.
She added that growth in the service industries was up by 5.3 in the first quarter of 2011, leading to the sector’s GH¢3,185.1 million contribution to the 2011’s first quarter GDP.
Meanwhile, the month-on-month Producer Inflation, which measures the monthly average changes in the (factory gate) prices, received by domestic producers and manufacturers for their goods and services rose by 0.74 per cent in May from the April month-on-month rate of 0.63 per cent.
Consequently, domestic producers and manufacturers received higher factory gate prices (prices fixed and received by manufacturers and producers) for their respective goods and services produced within May as compared to the rates received in April.
She, however said the year-on-year rate declined to 23.80 per cent in May from the April figure of 24.29 per cent, the first fall in the producer inflation in thirteen months.
The May producer inflation of 23.80 per cent indicated a 0.49 per cent decline compared to the April rate of 24.29 per cent.
Year-on-year producer inflation has been witnessing a consistent rise in the past 12 months, with the highest rate recorded in April this year.
In the sector by sector out of the PPI, the Government Statistician said the highest year-on-year price change of 71.84 per cent was recorded in the utilities sub-sector while the manufacturing sub-sector recorded 32.60, the least in the sector by sector outlook.
Mining and quarrying however recorded the highest monthly producer inflation change of 1.36 per cent followed by utilities recording a no change, the lowest in the sector-by-sector comparison.
Friday, June 24, 2011
Tuesday, June 21, 2011
The evolution of Yomi yoghurt
In the office, Mrs Naadu Eku, the Chief Operating Officer of Emigoh Ghana Limited, a diary foods manufacturing company at Pantang on the Aburi Road addresses Mr Stephen Eku, the Chief Executive Officer (CEO) of the company as her boss, and that is not new because office rules must apply. Back home however, they become friends; husband and wife. Maxwell Adombila Akalaare writes
THE now Emigoh Ghana Limited, a diary producing company at Pantang on the Aburi Road did not start as such. It begun as Steaks and Chops, then a food joint operated by the company’s current Chief Operating Officer at the Ashongman Estates, Accra.
The same applys to the company’s Yomi Yoghurt, a hot cake among the nutritionally conscious individuals. This product also started as ‘Fresh Yoghurt’, in the retailing drinks, Chops and Sticks food joint of Mrs Eku.
But with vision, dedication and a true commitment from her husband, Mrs Eku said the two have successfully turned the Chops and Steaks fast food joint, particularly her Fresh Yoghurt into a giant diary food producing company.
Taking the GRAPHIC BUSINESS through the roots of the company to its present stage, Mrs Eku said Fresh Yoghurt which has evolved to be known as Yomi Yoghurt was at the time heavily patronised by many people.
“Yomi Yoghurt started as Fresh Yoghurt as one of the products that I sold in the Steaks and Chops fast food joint. It was then under my drink menu and had a lot of patronage,” she recollected amidst smiles.
As a result, Mrs Eku said she together with her husband decided to package the product well for its teeming patrons, and perhaps for her husband whom she said also “loved the product.”
But as demand for the repackaged Fresh Yoghurt continued to soar, Mrs Eku said she, again with her husband resolved to devise more innovative ways of making the product even more appealing to meet the demands of its customers.
“We then started saving towards expanding the business” she said, adding that “while my husband saved from his salary, I also saved from the little that came from Steaks and Chops.”
Citing the then continuous high demand for the freshly prepared Yoghurt from Steaks, Mrs Eku said “the company reorganised its operations as a food joint at Ashongman Estates and later moved into full producing of Yoghurt products at Pantang, along the Aburi Road in 2005.”
family and businesswoman
Not all family businesses in the country and the world over have survived the test of time and expansions. Some of them die as they grow while others are left to stagnant mostly due to lack of co-operation or vision from the initiators.
According to Mrs Eku this is what she and her CEO-husband are fighting to avoid. “We are doing all possible to sustain Emigoh to reach the heights that we want it to be and we hope God would make it work.”
According to her, the Eku family had invested its time and resources into the company such that seeing it succeed would gladden their hearts.
Businesswomen are arguably faced with unfair competition from their male counterparts. For the men who are into business, family matters barely matter. As a result, most businessmen can be assured of their business time and mind to make and take business decisions.
For the businesswoman, however successfully operating a business would very much depend on how such a woman is able to tactfully combine family issues with teething business problems especially when one is married.
Mrs Eku thus advised businesswomen “to know how to manage their time and issues, especially when it comes to family and business matters.”
“You would always have to work hard to impress your husband when it comes to family matters and also do well to keep the business running,” she said
She, however said the continuos support from her husband and other family members from both sides had helped in diverse ways to push the six year-old company to its present status.
ecg’s discos
The Electricity Company of Ghana (ECG) has never impressed any industrialist in this country. For the business community, especially manufacturers who depend heavily on electricity for their operations. ECG has been a failure; it transmits inconsistent power to industry, a criticism the power provider has often attributed to lack of finance from he government to enable it sort out its numerous challenges.
As we speak now (referring to the time of the interview) the lights are off. It went off in the morning and is still (2:45pm) not yet on”.
She recollected that electricity in the area in some time past went off for close to two weeks causing them to rely on the company’s alternative power plant, a generator to fuel production.
interesting arrangement at emigoh
Aside its interesting product line of Yomi (the name of Mr and Mrs Eku’s first born) Yoghurt, Emigoh Ghana Limited also have interesting arrangements at its management level that are undoubtedly pulling the company to successful heights.
Prior to granting this reporter an interview at the company’s premises at Pantang, Mrs Eku asked the reporter to “please come and say hi to my boss.” While in the boss’ office, Chief Operating Officer of Emigoh said to the reporter: “Please meet my boss, Mr Eku. He is the CEO of the company.”
Little did this reporter realise that the said Mrs Eku’s Boss, the CEO of Emigoh Ghana was the husband of the lady in question.
“But he is my husband,” Mrs Eku later said adding that the two of them had resolved to handle office work as such and house matters as necessary.
“Whenever we are in the office, he is my boss and I address him as such but when we get home, he becomes a friend, my husband and everything that a wife and husband and husband-wife rules apply ,” she further noted.
To Mr Eku, the CEO of the Emigoh Ghana, continuous learning, both from the work and the family side has often done the trick. “Yes, we are at times faced with difficulties but by the Grace of God, we handle them successfully,” he added.
So, how does Mr and Mrs Eku handle their office matters, especially whenever there is a husband-wife hiccup in the house prior to coming to office?
Mrs Eku said “in the office, we handle office matters and back home, we also handle family matters.
THE now Emigoh Ghana Limited, a diary producing company at Pantang on the Aburi Road did not start as such. It begun as Steaks and Chops, then a food joint operated by the company’s current Chief Operating Officer at the Ashongman Estates, Accra.
The same applys to the company’s Yomi Yoghurt, a hot cake among the nutritionally conscious individuals. This product also started as ‘Fresh Yoghurt’, in the retailing drinks, Chops and Sticks food joint of Mrs Eku.
But with vision, dedication and a true commitment from her husband, Mrs Eku said the two have successfully turned the Chops and Steaks fast food joint, particularly her Fresh Yoghurt into a giant diary food producing company.
Taking the GRAPHIC BUSINESS through the roots of the company to its present stage, Mrs Eku said Fresh Yoghurt which has evolved to be known as Yomi Yoghurt was at the time heavily patronised by many people.
“Yomi Yoghurt started as Fresh Yoghurt as one of the products that I sold in the Steaks and Chops fast food joint. It was then under my drink menu and had a lot of patronage,” she recollected amidst smiles.
As a result, Mrs Eku said she together with her husband decided to package the product well for its teeming patrons, and perhaps for her husband whom she said also “loved the product.”
But as demand for the repackaged Fresh Yoghurt continued to soar, Mrs Eku said she, again with her husband resolved to devise more innovative ways of making the product even more appealing to meet the demands of its customers.
“We then started saving towards expanding the business” she said, adding that “while my husband saved from his salary, I also saved from the little that came from Steaks and Chops.”
Citing the then continuous high demand for the freshly prepared Yoghurt from Steaks, Mrs Eku said “the company reorganised its operations as a food joint at Ashongman Estates and later moved into full producing of Yoghurt products at Pantang, along the Aburi Road in 2005.”
family and businesswoman
Not all family businesses in the country and the world over have survived the test of time and expansions. Some of them die as they grow while others are left to stagnant mostly due to lack of co-operation or vision from the initiators.
According to Mrs Eku this is what she and her CEO-husband are fighting to avoid. “We are doing all possible to sustain Emigoh to reach the heights that we want it to be and we hope God would make it work.”
According to her, the Eku family had invested its time and resources into the company such that seeing it succeed would gladden their hearts.
 |
| Mrs Naadu Eku says the ECG's plays discos to the country's industry. |
Businesswomen are arguably faced with unfair competition from their male counterparts. For the men who are into business, family matters barely matter. As a result, most businessmen can be assured of their business time and mind to make and take business decisions.
For the businesswoman, however successfully operating a business would very much depend on how such a woman is able to tactfully combine family issues with teething business problems especially when one is married.
Mrs Eku thus advised businesswomen “to know how to manage their time and issues, especially when it comes to family and business matters.”
“You would always have to work hard to impress your husband when it comes to family matters and also do well to keep the business running,” she said
She, however said the continuos support from her husband and other family members from both sides had helped in diverse ways to push the six year-old company to its present status.
ecg’s discos
The Electricity Company of Ghana (ECG) has never impressed any industrialist in this country. For the business community, especially manufacturers who depend heavily on electricity for their operations. ECG has been a failure; it transmits inconsistent power to industry, a criticism the power provider has often attributed to lack of finance from he government to enable it sort out its numerous challenges.
As we speak now (referring to the time of the interview) the lights are off. It went off in the morning and is still (2:45pm) not yet on”.
She recollected that electricity in the area in some time past went off for close to two weeks causing them to rely on the company’s alternative power plant, a generator to fuel production.
interesting arrangement at emigoh
Aside its interesting product line of Yomi (the name of Mr and Mrs Eku’s first born) Yoghurt, Emigoh Ghana Limited also have interesting arrangements at its management level that are undoubtedly pulling the company to successful heights.
Prior to granting this reporter an interview at the company’s premises at Pantang, Mrs Eku asked the reporter to “please come and say hi to my boss.” While in the boss’ office, Chief Operating Officer of Emigoh said to the reporter: “Please meet my boss, Mr Eku. He is the CEO of the company.”
Little did this reporter realise that the said Mrs Eku’s Boss, the CEO of Emigoh Ghana was the husband of the lady in question.
“But he is my husband,” Mrs Eku later said adding that the two of them had resolved to handle office work as such and house matters as necessary.
“Whenever we are in the office, he is my boss and I address him as such but when we get home, he becomes a friend, my husband and everything that a wife and husband and husband-wife rules apply ,” she further noted.
To Mr Eku, the CEO of the Emigoh Ghana, continuous learning, both from the work and the family side has often done the trick. “Yes, we are at times faced with difficulties but by the Grace of God, we handle them successfully,” he added.
So, how does Mr and Mrs Eku handle their office matters, especially whenever there is a husband-wife hiccup in the house prior to coming to office?
Mrs Eku said “in the office, we handle office matters and back home, we also handle family matters.
Ga Rural Bank to open more branches
THE Ga Rural Bank has initiated moves to open three more branches within Accra.
The bank has, therefore, entered into discussions with the Bank of Ghana to enable it meet the needed requirements for opening more branches to serve customers within its catchment areas.
The move, when successful, will bring the bank’s branches to nine.
The outgoing Board Chairman of the bank, Mr Joseph N. A. Hyde, told shareholders at the bank’s 19th Annual General Meeting at Amasaman, Accra that the bank was pursuing available opportunities that would enable it expand its operations within its catchment area.
“We are looking at Mandela and Kasoa in the Ga South and Agyen Kotoku in the Ga West Districts”, the chairman stated.
Touching on the bank’s operations in the past year, Mr Hyde said the bank recorded “a modest profit after taxation of GH¢211,756 from a total income of GH¢1,642,657”, a 10.96 per cent increase from the previous year’s profit.
According to him, the board had thus maintained last year’s dividend of GH¢0.002 per share; an amount some of the shareholders said was woefully inadequate.
He noted that the bank's improved share sales had brought its stated capital to GH¢281.278, "which exceeds the minimum capital prescribed by the BoG". He, therefore, urged the bank's shareholders to continue to buy shares to enhance the bank's share price.
Touching on the bank's corporate social responsibility activities during the year under review, the outgoing board chair said the bank spent GH¢16,404 to support communities, projects and institutions within its catchment area.
"Again, we awarded 10 scholarships to deserving senior high school entrants in the catchment areas, bringing to 92 the number of recipients since the inception of the scheme 14 years ago,” Mr Hyde added.
He also called on the bank’s loan beneficiaries to endeavour to pay back their loans on time to enable the bank function as expected.
The shareholders later elected two of the bank’s directors to replace Mr Hyde and Mrs Elizabeth Sackey, who had both served 10 years on the bank’s board.
The election which is the first of its kind in the bank’s 27-year-old history was conducted by electoral officers from the Ga West Municipality.
Out the 273 valid votes cast, Mr G. T. Mensah, a parasitologist with the Centre for Scientific and Industrial Research, and Nana Bram Okae II pulled 124 and 111 votes respectively.
Mr Hyde, the third majority individual shareholder of the bank, later said though he could have opted for the ‘share per vote’ ballot, he decided to use the individual shareholder to a vote because he had the bank at heart.
The bank has, therefore, entered into discussions with the Bank of Ghana to enable it meet the needed requirements for opening more branches to serve customers within its catchment areas.
The move, when successful, will bring the bank’s branches to nine.
The outgoing Board Chairman of the bank, Mr Joseph N. A. Hyde, told shareholders at the bank’s 19th Annual General Meeting at Amasaman, Accra that the bank was pursuing available opportunities that would enable it expand its operations within its catchment area.
“We are looking at Mandela and Kasoa in the Ga South and Agyen Kotoku in the Ga West Districts”, the chairman stated.
Touching on the bank’s operations in the past year, Mr Hyde said the bank recorded “a modest profit after taxation of GH¢211,756 from a total income of GH¢1,642,657”, a 10.96 per cent increase from the previous year’s profit.
According to him, the board had thus maintained last year’s dividend of GH¢0.002 per share; an amount some of the shareholders said was woefully inadequate.
He noted that the bank's improved share sales had brought its stated capital to GH¢281.278, "which exceeds the minimum capital prescribed by the BoG". He, therefore, urged the bank's shareholders to continue to buy shares to enhance the bank's share price.
Touching on the bank's corporate social responsibility activities during the year under review, the outgoing board chair said the bank spent GH¢16,404 to support communities, projects and institutions within its catchment area.
"Again, we awarded 10 scholarships to deserving senior high school entrants in the catchment areas, bringing to 92 the number of recipients since the inception of the scheme 14 years ago,” Mr Hyde added.
He also called on the bank’s loan beneficiaries to endeavour to pay back their loans on time to enable the bank function as expected.
The shareholders later elected two of the bank’s directors to replace Mr Hyde and Mrs Elizabeth Sackey, who had both served 10 years on the bank’s board.
The election which is the first of its kind in the bank’s 27-year-old history was conducted by electoral officers from the Ga West Municipality.
Out the 273 valid votes cast, Mr G. T. Mensah, a parasitologist with the Centre for Scientific and Industrial Research, and Nana Bram Okae II pulled 124 and 111 votes respectively.
Mr Hyde, the third majority individual shareholder of the bank, later said though he could have opted for the ‘share per vote’ ballot, he decided to use the individual shareholder to a vote because he had the bank at heart.
Sunday, June 19, 2011
Inflation eases to 8.90 per cent
FOR three conservative times, the Consumer Price Index (CPI) has recorded a downward pressure bringing the annualised inflation in May down to 8.90 per cent.
This represents a 0.12 per cent reduction in the April rate of 9.02 per cent.
Announcing the May inflation rate in Accra, the Government Statistician, Dr Grace Bediako, said the month-on-month inflation, however, rose from 1.31 per cent in April to 1.76 in May.
In practical terms, therefore, general prices of goods and services increased at a much faster rate of 1.76 per cent in May 2011 as compared to that of April this year.
Monthly inflation has, since January this year been declining, starting from 2.06 per cent in January to 1.11 per cent in March.
According to Dr Bediako, the non-food group, which had a weight of 55.09 per cent on the entire CPI basket recorded an inflation rate of 12.15 per cent, a little over three times higher than the food and non-beverages group’s rate of 3.93 per cent in May.
In the food and non-alcoholic beverages group, Dr Bediako said the sugar, jam, honey, syrups, chocolate and confectionery sub-group recorded the highest rate of 14.66 per cent while the bread and cereal sub-group, both common consumables nation-wide recorded a negative 0.29 per cent, the least in that group.
The food and non-alcoholic beverages group has, for sometime now been witnessing a consistent decline, partly pulling annualised inflation down over the past three months.
The non-food group, however has been recording a consistently slow rise of double digit inflation after the figure declined slightly in January and December.
According to Dr Bediako, the “transport sub-sector of the non-food group recorded an appreciable rate of 22.59 per cent in May” while the communication sub-group recorded a zero change, being the lowest in the sub-groups category.
With regards to regional trends in May, Dr Bediako said the Greater Accra Region again recorded the highest rate of 12.23 per cent followed by the Central Region’s figure of 10.83 per cent.
The Northern and Volta region, she added, recorded the least rates of 4.15 per cent and 5.22 per cent respectively.
The two upper regions which recorded the highest regional inflation in the food group last April , have however recorded the least rate in May.
Annual inflation which measures the average rate at which prices of goods and services change over the one year period has assumed a consistent decline, reducing from 9.16 per cent in January to this May figure of 8.90 per cent.
That three-month consistent decline, according to the government statistician “can be attributed more to the food and non-alcoholic beverages group than the non-food group.”
Explaining further, Dr Bediako said the food and the non-alcoholic beverages group have been recording “single digit inflation rate and declining since January 2010.
“The non food group on the other hand has been recording double digit inflation rates, declining from January 2010 to December 2010 and thereafter, started rising slowly.”
On the future outlook, Dr Bediako said the current consistent rising trend recorded in the month-on-month rate could be expected to continue well into the year.
This represents a 0.12 per cent reduction in the April rate of 9.02 per cent.
Announcing the May inflation rate in Accra, the Government Statistician, Dr Grace Bediako, said the month-on-month inflation, however, rose from 1.31 per cent in April to 1.76 in May.
In practical terms, therefore, general prices of goods and services increased at a much faster rate of 1.76 per cent in May 2011 as compared to that of April this year.
Monthly inflation has, since January this year been declining, starting from 2.06 per cent in January to 1.11 per cent in March.
According to Dr Bediako, the non-food group, which had a weight of 55.09 per cent on the entire CPI basket recorded an inflation rate of 12.15 per cent, a little over three times higher than the food and non-beverages group’s rate of 3.93 per cent in May.
In the food and non-alcoholic beverages group, Dr Bediako said the sugar, jam, honey, syrups, chocolate and confectionery sub-group recorded the highest rate of 14.66 per cent while the bread and cereal sub-group, both common consumables nation-wide recorded a negative 0.29 per cent, the least in that group.
The food and non-alcoholic beverages group has, for sometime now been witnessing a consistent decline, partly pulling annualised inflation down over the past three months.
The non-food group, however has been recording a consistently slow rise of double digit inflation after the figure declined slightly in January and December.
According to Dr Bediako, the “transport sub-sector of the non-food group recorded an appreciable rate of 22.59 per cent in May” while the communication sub-group recorded a zero change, being the lowest in the sub-groups category.
With regards to regional trends in May, Dr Bediako said the Greater Accra Region again recorded the highest rate of 12.23 per cent followed by the Central Region’s figure of 10.83 per cent.
The Northern and Volta region, she added, recorded the least rates of 4.15 per cent and 5.22 per cent respectively.
The two upper regions which recorded the highest regional inflation in the food group last April , have however recorded the least rate in May.
Annual inflation which measures the average rate at which prices of goods and services change over the one year period has assumed a consistent decline, reducing from 9.16 per cent in January to this May figure of 8.90 per cent.
That three-month consistent decline, according to the government statistician “can be attributed more to the food and non-alcoholic beverages group than the non-food group.”
Explaining further, Dr Bediako said the food and the non-alcoholic beverages group have been recording “single digit inflation rate and declining since January 2010.
“The non food group on the other hand has been recording double digit inflation rates, declining from January 2010 to December 2010 and thereafter, started rising slowly.”
On the future outlook, Dr Bediako said the current consistent rising trend recorded in the month-on-month rate could be expected to continue well into the year.
Withstand all forms of manipulation - World Bank's Director of CommunicationDIRECTOR of Communications in charge of the World Bank’s Africa Region, Mr Peter Stevens, has challenged media practitioners in Ghana to withstand all forms of manipulation by both government and corporate institutions.
DIRECTOR of Communications in charge of the World Bank’s Africa Region, Mr Peter Stevens, has challenged media practitioners in Ghana to withstand all forms of manipulation by both government and corporate institutions.
He observed that government and corporate institutions throughout the world had intensified their machination of media practitioners as they both seek ways of hiding some aspects of their improper conducts from becoming public.
Mr Steven made the remarks at a video conference from Wasghinton to journalists in Accra during the opening ceremony of a 10-day training course for journalists in finance and economic reporting.
The course, which is the first in the series, is organised by El de D Consult, a consultancy firm in Accra and sponsored by Newmont Ghana Gold Limited with support from the World Bank.
According to him, "the manipulation of the journalist has never been done with greater effect as it is currently happening," adding that the practice was not limited to one country but a phenomenon carried out everywhere.
"This manipulation process is not limited only to the USA or UK, it happens evereywhere," he said and thus urged journalist to "keep yourselves above this process and never be part of it".
Mr Stevens was also optimistic that the course in Economic and Finance would help equip the participants to be able to effectively report on issues of finance and economics.
A deputy Minister at the Ministry of Finance and Economic Planning, Mr Seth Tepker, who was the guest speaker at the ceremony, called on media practitioners to give more prominence to economic and finance issues.
He said the World Bank had confirmed that the country's economy was going to witness one of the highest growth in Sub-Sahara Africa of over 13 per cent, an issue the deputy Minster said has been "overshadowed by partisan political discussions on our radio and television stations.
"I admit that political discussions do deepen democracy through grassroots participation but economic and financial issues if well discussed will ultimately put bread and butter on the table," Mr Tepker said.
He thus commended the organisers, El de D Consult, Newmont Ghana and the World Bank for partnering one another on such a noble course.
El de D Consult, the course organisers were optimistic that the 'Finance and Economic Clinic', as it is being refered would help compliment past efforts towards getting media practitioners well positioned to tackling the growing number of economic and finance issues making the headlines in the country.
He observed that government and corporate institutions throughout the world had intensified their machination of media practitioners as they both seek ways of hiding some aspects of their improper conducts from becoming public.
Mr Steven made the remarks at a video conference from Wasghinton to journalists in Accra during the opening ceremony of a 10-day training course for journalists in finance and economic reporting.
The course, which is the first in the series, is organised by El de D Consult, a consultancy firm in Accra and sponsored by Newmont Ghana Gold Limited with support from the World Bank.
According to him, "the manipulation of the journalist has never been done with greater effect as it is currently happening," adding that the practice was not limited to one country but a phenomenon carried out everywhere.
"This manipulation process is not limited only to the USA or UK, it happens evereywhere," he said and thus urged journalist to "keep yourselves above this process and never be part of it".
Mr Stevens was also optimistic that the course in Economic and Finance would help equip the participants to be able to effectively report on issues of finance and economics.
A deputy Minister at the Ministry of Finance and Economic Planning, Mr Seth Tepker, who was the guest speaker at the ceremony, called on media practitioners to give more prominence to economic and finance issues.
He said the World Bank had confirmed that the country's economy was going to witness one of the highest growth in Sub-Sahara Africa of over 13 per cent, an issue the deputy Minster said has been "overshadowed by partisan political discussions on our radio and television stations.
"I admit that political discussions do deepen democracy through grassroots participation but economic and financial issues if well discussed will ultimately put bread and butter on the table," Mr Tepker said.
He thus commended the organisers, El de D Consult, Newmont Ghana and the World Bank for partnering one another on such a noble course.
El de D Consult, the course organisers were optimistic that the 'Finance and Economic Clinic', as it is being refered would help compliment past efforts towards getting media practitioners well positioned to tackling the growing number of economic and finance issues making the headlines in the country.
STC's fortunes to change
TWO months after the Transport Minister’s visit to the Intercity STC Coaches Limited brought to public attention the debt-ridden nature of the company, Maxwell Adombila Akalaare looks at how the company is now surviving in these challenges.
The fortunes of Intercity STC are set to drastically transform in the coming months with the release of 10 additional buses to the company to augment its fleet.
The buses have come at a time when the existing fleet seldom make it to their destinations, thereby getting passangers stranded on many occassion.
With the competition in the sector getting heated by the day from competitors such as VIP and M-Plaza, STC, the icon of the sector has almost lost its lead as far as the market share is concerned.
The company has survived till date in spite of the huge debt overlay because of the trust and royalty many continue to have in the company.
The Marketing and Business Development Manager of the Intercity STC Coaches Limited, Gabriella D. Tetteh is confident that the company’s operations would soon stabilise following the loaning of 10 48-seater Yotoug buses to it by the J A Plant Pool, sole distributors of the brand in Ghana.
“We are gradually getting back our patronage,” she said, adding that the 10 buses had been en-routed to long distance journeys and to Ouagadougou and Abidjan routes.
Ms Tetteh said though the current season does not favour transport patronage due to the lack of festivities and school vacations, patronage of the company’s buses were gradually picking up especially when compared with the previous months.
“Our Bolga-Wa and Tamale services which are using the new buses are now recording 100 per cent, up from the initial 88 to 95 per cent patronage recorded some months ago,” she said.
Frequent break downs of vehicles, late departures and other operational difficulties are some of the major challenges confronting the company. In years past, STC was a preferred public transport system and earned the reputation of providing safe, reliable and timely transport to both its local and foreign passengers.
According to the Business and Development Manager, the compamy had realised its challenges and was now working to improve on them.
She mentioned that the STC’s break down records were “now insignificant following the coming in of the 10 Odehye buses from J A Plant Pool.”
She further disclosed that the company was yet to take delivery of another 10 buses from the Metro Mass Transport Limited, another passenger transport company in the country.
The fortunes of Intercity STC are set to drastically transform in the coming months with the release of 10 additional buses to the company to augment its fleet.
The buses have come at a time when the existing fleet seldom make it to their destinations, thereby getting passangers stranded on many occassion.
With the competition in the sector getting heated by the day from competitors such as VIP and M-Plaza, STC, the icon of the sector has almost lost its lead as far as the market share is concerned.
The company has survived till date in spite of the huge debt overlay because of the trust and royalty many continue to have in the company.
The Marketing and Business Development Manager of the Intercity STC Coaches Limited, Gabriella D. Tetteh is confident that the company’s operations would soon stabilise following the loaning of 10 48-seater Yotoug buses to it by the J A Plant Pool, sole distributors of the brand in Ghana.
“We are gradually getting back our patronage,” she said, adding that the 10 buses had been en-routed to long distance journeys and to Ouagadougou and Abidjan routes.
Ms Tetteh said though the current season does not favour transport patronage due to the lack of festivities and school vacations, patronage of the company’s buses were gradually picking up especially when compared with the previous months.
“Our Bolga-Wa and Tamale services which are using the new buses are now recording 100 per cent, up from the initial 88 to 95 per cent patronage recorded some months ago,” she said.
Frequent break downs of vehicles, late departures and other operational difficulties are some of the major challenges confronting the company. In years past, STC was a preferred public transport system and earned the reputation of providing safe, reliable and timely transport to both its local and foreign passengers.
According to the Business and Development Manager, the compamy had realised its challenges and was now working to improve on them.
She mentioned that the STC’s break down records were “now insignificant following the coming in of the 10 Odehye buses from J A Plant Pool.”
She further disclosed that the company was yet to take delivery of another 10 buses from the Metro Mass Transport Limited, another passenger transport company in the country.
Tuesday, June 14, 2011
Fanny, a woman of many parts.
Ms Fanny Aggrey-Fynn Amissah is fast taking the beads and movie industry by storm. Maxwell Adombila Akalaare reports on how she is making waves in her fields of endeavour.
COMPETITION in the country's fashion industry is virtually at high gear. That follows the apparent daily popping up of numerous fashion joints throughout the country, a situation Ms Fanny Amissah, a new entrant to the field says is having a negative impact on fashion businesses nation-wide.
Fanny, the owner of Me 'n' Eu Collections, a beads and hats enterprise in Tema told the GRAPHIC BUSINESS that "the too many beads and fashion institutions" and many people's desires to buy quality things at a low cost "just because they know you" was a huge challenge to her two year-old company.
Before settling to the realms of entreprenuership, Fanny said she had intially persued her childhood ambitions of taking over from her father's profession as a broadcast journalist but decided to pull out only to now become a business woman.
She said, she thus spent over two years practising the profession; a year each at Miridian and Adom FM, both Tema based private radio stations.
But while working as an online broadcast journalist with Adom FM in 2005, Fanny said she developed interest in the beauty industry and thus enrolled with the Second Image Beauty Academy, a private beauty and therapeutic institute in Accra for a one year course as a beauty specialist in bridal make-up, nails and among others.
“I was also by then doing the beads traning alongside the beauty course,” she said adding that Nesy Concepts, coordinated by Ms Stacy Yayra Makumator, a renowned beads manufacturing and training company initially featured on this page afforded her the opportunity to undergo the bead making training.
one individual, several tentacles
Gazing at her Me ‘n’ Eu Collections in Tema, which currently operates from Safari Salon in Tema Community Seven, the actress cum entreprenuer said she hopes to fully exploit her talents as a fashion designer but added that her “octopus sort-of-work-skills” was sometimes making her confused as to which direction to take.
“See, I was initially making hats and beads for sale but has currently suspended the hat making because they don’t sale. I also act, and doubles as a broadcast journalist and a beauty specialist in bridal, nails making and the rest as well.”
She, however mentioned that she was at the time trimming off her broadcasting tentacles to make way for the entreprenuerial, acting and fashion ones to blossom.
But lack of finance, she said was now her problem and thus noted that she was currently hoping to source for funds to enable her “go wholly into the fashion sector to enage in local clothes, bead and hat making and all that concerns fashion. I really want to put more of my attentions on the fashion sector,” Fanny said.
She said the virtually fallow nature of the bead industry in Tema meant that any little investments from her Me ‘n’ Eu Collections could yield positive returns in the near future.
“In Tema for instance, there’s no place where you can go and buy the raw beads in large quantities like we do at Agblogbloshie and other areas,” she said.
According to her, the few areas that even sold in large quantities “do not also have the beads in variety. So if I’m able to raise enough funds, then I can consider wholesaling the beads to interested persons.”
Ms Fanny would, however, not attempt to raise the said funds from the country’s financial institutions, may be, she says, “not now.
“Loans, for now, no! May be in the near future,” she said noting that the little financial support that her family was currently offering her was enough, especially in the mean time.
She, however added that she has over the years been seeking genuine financial commitments or partnerships from individuals and corporate institutions to help push her forward but to no avail.
No free lunch here
Fanny has interesting experiences when it comes to asking for, and getting financial help from people who “at first would appear"ethusiatic" but have other hidden motives.
Ms Fanny Amissah, the second runner-up of TV3's 2008 Ghana Most Beautiful said some responses to these her financial requests to help push her bead trading forward have sometimes been frustrating.
“Some of the people, especially the men are just not prepared to help you freely. Their demands sometimes make you want to believe that it is a crime to look good in this country,” she noted.
Views on the movie industry
Ms Fanny has featured and played lead roles in several locally produced movies including the ‘Harvest at 17’ by Koo Ansah, the ‘Next Flight’, the ‘Sexy Angel’, ‘Lady Bianca’ in which she was the Lady Bianca as well as in series such as Channel of Hope by the Pentecost Church of Ghana.
According to Fanny, she was currently rehearsing towards featuring in her next movie that she said would soon hit the movie market.
Ms Fanny, alias ‘Lady Bianca’ or even the ‘Sexy Angel’ is an actress with an urge for the job. And she holds some passionate views concerning themovie industry in Ghana and its products of late, especially the content of those movies.
“How can you put characters in thatch houses, depicting a village scene yet allow those characters to wear robber nails,” she asked and further wondered if most characters’s actions in the movies they feature in do depict the scenes they claim to potray.
“You cannot say that somebody is poor, the person has no food to eat, or an is an old woman yet allow such a character to be in the film in flashy skin. That doesn’t sent the right sginals to the audience,” she said and further observed that it was better movie producers trained characters to act and potray themselves to match with the role they havebeen asked to play.
Ms Fanny also has issues with movie directors and producers who seem to think that featuring only ‘renown’ movie stars is the surest way to getting such a movie sell and thus bring value to such a director or producer’s money.
“Movie Directors and producers should actuaaly take up the risk of raising talents, bring up unknown faces and give them the chance to show their talents in the sector.”
According to Fanny, “a good film is bond to sell no matter the personality used” and thus urged stakeholders of the country’s movie industry to cast their nets beyond the renown actors or actresses.
According to the ‘Lady Bianca’, continuous concentartion on a particular actor or actress due to such person’s renowness in the field had the tendancy of “even making such a person stalemate in acting. The audience may even also get bored with the person’s movies, because, it becomes as if they were watching the same movie over and over .”
On the issue of nude movies currently taking over the market, Fanny ‘Lady Bianca’ again said that was unwelcoming in her opinion.
“It is nt how sexy a movie is that would make it sell and as for me if acting below what would make look like a woman is the only way to get to me money, then I don’t need that money,” she added.
Goodwill killing businesses
Ghanaians are noted for their hospitality towards one another and outsiders in particular, a trait that has arguably earned tha nation eviable recognition in the global tourism arena.
Back home, many expect the same to continue including having to buy products from family members and friends at special offers or prices.
To Fanny, who said she has had a great deal in such demands, those acts only pulls the small busineeses back.
Some people at times want to buy or be given the products at goodwill and this is not easy, it kills the business,” she said adding that having realistic prices for her products could have possiblly inched her off her present stance.
On the future of her Me ‘n’ Eu Collections, Fanny said “I want to see myself everywhere.” I should be in good standing and be able to do what I have always liked doing.”
Fanny is on fantasia9115@yahoo.com
In our next issue, we will feature Mrs Naadu Eku, the Chief Operating Officer of Emigoh Ghana Limited, a diary products manufacturing company at Pantang on the Aburi road, Accra.
COMPETITION in the country's fashion industry is virtually at high gear. That follows the apparent daily popping up of numerous fashion joints throughout the country, a situation Ms Fanny Amissah, a new entrant to the field says is having a negative impact on fashion businesses nation-wide.
Fanny, the owner of Me 'n' Eu Collections, a beads and hats enterprise in Tema told the GRAPHIC BUSINESS that "the too many beads and fashion institutions" and many people's desires to buy quality things at a low cost "just because they know you" was a huge challenge to her two year-old company.
Before settling to the realms of entreprenuership, Fanny said she had intially persued her childhood ambitions of taking over from her father's profession as a broadcast journalist but decided to pull out only to now become a business woman.
She said, she thus spent over two years practising the profession; a year each at Miridian and Adom FM, both Tema based private radio stations.
But while working as an online broadcast journalist with Adom FM in 2005, Fanny said she developed interest in the beauty industry and thus enrolled with the Second Image Beauty Academy, a private beauty and therapeutic institute in Accra for a one year course as a beauty specialist in bridal make-up, nails and among others.
“I was also by then doing the beads traning alongside the beauty course,” she said adding that Nesy Concepts, coordinated by Ms Stacy Yayra Makumator, a renowned beads manufacturing and training company initially featured on this page afforded her the opportunity to undergo the bead making training.
one individual, several tentacles
Gazing at her Me ‘n’ Eu Collections in Tema, which currently operates from Safari Salon in Tema Community Seven, the actress cum entreprenuer said she hopes to fully exploit her talents as a fashion designer but added that her “octopus sort-of-work-skills” was sometimes making her confused as to which direction to take.
“See, I was initially making hats and beads for sale but has currently suspended the hat making because they don’t sale. I also act, and doubles as a broadcast journalist and a beauty specialist in bridal, nails making and the rest as well.”
She, however mentioned that she was at the time trimming off her broadcasting tentacles to make way for the entreprenuerial, acting and fashion ones to blossom.
But lack of finance, she said was now her problem and thus noted that she was currently hoping to source for funds to enable her “go wholly into the fashion sector to enage in local clothes, bead and hat making and all that concerns fashion. I really want to put more of my attentions on the fashion sector,” Fanny said.
She said the virtually fallow nature of the bead industry in Tema meant that any little investments from her Me ‘n’ Eu Collections could yield positive returns in the near future.
“In Tema for instance, there’s no place where you can go and buy the raw beads in large quantities like we do at Agblogbloshie and other areas,” she said.
According to her, the few areas that even sold in large quantities “do not also have the beads in variety. So if I’m able to raise enough funds, then I can consider wholesaling the beads to interested persons.”
Ms Fanny would, however, not attempt to raise the said funds from the country’s financial institutions, may be, she says, “not now.
“Loans, for now, no! May be in the near future,” she said noting that the little financial support that her family was currently offering her was enough, especially in the mean time.
She, however added that she has over the years been seeking genuine financial commitments or partnerships from individuals and corporate institutions to help push her forward but to no avail.
No free lunch here
Fanny has interesting experiences when it comes to asking for, and getting financial help from people who “at first would appear"ethusiatic" but have other hidden motives.
Ms Fanny Amissah, the second runner-up of TV3's 2008 Ghana Most Beautiful said some responses to these her financial requests to help push her bead trading forward have sometimes been frustrating.
“Some of the people, especially the men are just not prepared to help you freely. Their demands sometimes make you want to believe that it is a crime to look good in this country,” she noted.
Views on the movie industry
Ms Fanny has featured and played lead roles in several locally produced movies including the ‘Harvest at 17’ by Koo Ansah, the ‘Next Flight’, the ‘Sexy Angel’, ‘Lady Bianca’ in which she was the Lady Bianca as well as in series such as Channel of Hope by the Pentecost Church of Ghana.
According to Fanny, she was currently rehearsing towards featuring in her next movie that she said would soon hit the movie market.
Ms Fanny, alias ‘Lady Bianca’ or even the ‘Sexy Angel’ is an actress with an urge for the job. And she holds some passionate views concerning themovie industry in Ghana and its products of late, especially the content of those movies.
“How can you put characters in thatch houses, depicting a village scene yet allow those characters to wear robber nails,” she asked and further wondered if most characters’s actions in the movies they feature in do depict the scenes they claim to potray.
“You cannot say that somebody is poor, the person has no food to eat, or an is an old woman yet allow such a character to be in the film in flashy skin. That doesn’t sent the right sginals to the audience,” she said and further observed that it was better movie producers trained characters to act and potray themselves to match with the role they havebeen asked to play.
Ms Fanny also has issues with movie directors and producers who seem to think that featuring only ‘renown’ movie stars is the surest way to getting such a movie sell and thus bring value to such a director or producer’s money.
“Movie Directors and producers should actuaaly take up the risk of raising talents, bring up unknown faces and give them the chance to show their talents in the sector.”
According to Fanny, “a good film is bond to sell no matter the personality used” and thus urged stakeholders of the country’s movie industry to cast their nets beyond the renown actors or actresses.
According to the ‘Lady Bianca’, continuous concentartion on a particular actor or actress due to such person’s renowness in the field had the tendancy of “even making such a person stalemate in acting. The audience may even also get bored with the person’s movies, because, it becomes as if they were watching the same movie over and over .”
On the issue of nude movies currently taking over the market, Fanny ‘Lady Bianca’ again said that was unwelcoming in her opinion.
“It is nt how sexy a movie is that would make it sell and as for me if acting below what would make look like a woman is the only way to get to me money, then I don’t need that money,” she added.
Goodwill killing businesses
Ghanaians are noted for their hospitality towards one another and outsiders in particular, a trait that has arguably earned tha nation eviable recognition in the global tourism arena.
Back home, many expect the same to continue including having to buy products from family members and friends at special offers or prices.
To Fanny, who said she has had a great deal in such demands, those acts only pulls the small busineeses back.
Some people at times want to buy or be given the products at goodwill and this is not easy, it kills the business,” she said adding that having realistic prices for her products could have possiblly inched her off her present stance.
On the future of her Me ‘n’ Eu Collections, Fanny said “I want to see myself everywhere.” I should be in good standing and be able to do what I have always liked doing.”
Fanny is on fantasia9115@yahoo.com
In our next issue, we will feature Mrs Naadu Eku, the Chief Operating Officer of Emigoh Ghana Limited, a diary products manufacturing company at Pantang on the Aburi road, Accra.
Bola Ray unveiled as NDA ambassador
The National Drivers Academy (NDA) has chosen Joy FM’s Drive Time host Mr Nathaniel Anokye-Adise who is also known as Bola Ray in Showbiz cycles as its road safety ambassador.
The outdooring is expected to help push the academy’s efforts aimed at reducing the current rising road accidents in the country.
The agreement, according to the Director of the NDA, Mr Frank Asare is not paid for by the academy and expected to run for one year after which the NDA would be at will to ask for an extension.
Mr Asare said at the outdooring ceremony in Accra that the agreement, which was signed by the two personalities the NDA Ambassador is expected to see Bola Ray educating the driving public “on the need to discourage negative road user attitudes such as drink driving, use of mobile phones whiledriving, among others.”
He observed that the iconic nature of Bola Ray “transcends age” and thus hoped that the one year contract with him would enable “Bola Ray avail his rich credentials in show business to promote driver education and training to reduce the risks associated with negative driving habits towards reducing the rising road accident cases in the country.”
Ghana's road safety record has been bloating since the beginning of 2011 after 2010 marked a record hike in the country's road accident figures.
The first quarter of 2011 saw 5,340 road accident cases being reported, out of which 740 persons perished.
“We at the NDA are worried with these rising road accident cases on our roads”, Mr Asare said adding that the sometimes negative emotions of most drivers especially when exhibited against colleague road users were seen as great contributors to these figures.
Speaking at the unveiling ceremony in Accra, the newly unveiled NDA Ambassador said “I am highly elated to be appointed as an Ambassador for driver education and training” and further promised to use his status to encourage and promote responsible driving on our roads.
According to Bola Ray, road accident issues “are very dear to my heart” and thus adding that his choice as an NDA ambassador would further enable him put up his best in curbing the present rising figures being recorded.
He mentioned that his outfit would soon “be hitting entire nation with the ‘bus terminal storm’ to engage road users on some of the petty things that are often ignored yet causes accidents.
“We must all realise that driver education is key in our efforts to reduce road accidents and in so doing, we would have been preserving the investments in our vehicles and our human resources as well.”
Bola Ray further called on corporate institutions nation-wide to join the NDA and other road safety institutions in championing the course for an accident-free society.
The outdooring is expected to help push the academy’s efforts aimed at reducing the current rising road accidents in the country.
The agreement, according to the Director of the NDA, Mr Frank Asare is not paid for by the academy and expected to run for one year after which the NDA would be at will to ask for an extension.
Mr Asare said at the outdooring ceremony in Accra that the agreement, which was signed by the two personalities the NDA Ambassador is expected to see Bola Ray educating the driving public “on the need to discourage negative road user attitudes such as drink driving, use of mobile phones whiledriving, among others.”
He observed that the iconic nature of Bola Ray “transcends age” and thus hoped that the one year contract with him would enable “Bola Ray avail his rich credentials in show business to promote driver education and training to reduce the risks associated with negative driving habits towards reducing the rising road accident cases in the country.”
Ghana's road safety record has been bloating since the beginning of 2011 after 2010 marked a record hike in the country's road accident figures.
The first quarter of 2011 saw 5,340 road accident cases being reported, out of which 740 persons perished.
“We at the NDA are worried with these rising road accident cases on our roads”, Mr Asare said adding that the sometimes negative emotions of most drivers especially when exhibited against colleague road users were seen as great contributors to these figures.
Speaking at the unveiling ceremony in Accra, the newly unveiled NDA Ambassador said “I am highly elated to be appointed as an Ambassador for driver education and training” and further promised to use his status to encourage and promote responsible driving on our roads.
According to Bola Ray, road accident issues “are very dear to my heart” and thus adding that his choice as an NDA ambassador would further enable him put up his best in curbing the present rising figures being recorded.
He mentioned that his outfit would soon “be hitting entire nation with the ‘bus terminal storm’ to engage road users on some of the petty things that are often ignored yet causes accidents.
“We must all realise that driver education is key in our efforts to reduce road accidents and in so doing, we would have been preserving the investments in our vehicles and our human resources as well.”
Bola Ray further called on corporate institutions nation-wide to join the NDA and other road safety institutions in championing the course for an accident-free society.
Earthquake won't affect Toyota Ghana's production - MD
LOCAL agents of Toyota Motor Corporation (TMC), the world’s biggest carmaker from Japan, has discounted suggestions that the March earthquake that wrecked parts of Japan could possibly affect sales of Toyota vehicles in Ghana.
The Managing Director of Toyota Ghana Company Limited (TGCL) , Mr Takahiko Takabayashi, told the Daily Graphic in an interview after the company’s 2011 Users Conference in Accra that the company’s policy of producing most of its parts outside its country of origin had shielded it from the direct effects of the earthquake.
He explained that, most of Toyota’s products used in Ghana are sourced from Toyota’s sister producing countries.
Japan last March witnessed a severe earthquake that resulted in a 30-foot tsunami, which led to the distraction of thousands of lives and industries including TMC, the global leader in the car manufacturing industry.
The TGCL MD said the TMC’s mode of production had helped to insulate it from the effects of the country’s most deadly disasters ever.
“Yes, the product Toyota is from Japan but we produce most of our parts and vehicles outside Japan. So, under such situations (such as a disaster), we still have other sources from whom to rely,” Mr Takabayashi said.
He, however, mentioned that the company was currently recovering from its 29 fall in sales.
“The market is recovering. We’ve had high sales this year as compared to what happened two years ago,” he said.
The Sales Manager of the TGCL, Mr Andy Lamptey, had earlier called on users of Toyota vehicles nation-wide to develop frequent maintenance culture as a way of preventing their vehicles from deteriorating at a faster pace.
He said the huge investments required in acquiring a vehicle only made it proper that “we give regular care to our vehicles to prevent them from breaking down totally and even compounding the cost on us.”
He further called on those living in and around Tema to patronise the company’s Tema maintenance facility saying “that facility was actually built for your convenience.”
Management of the TGCL also used the conference to announce specific discounts on some of the company’s vehicles and maintenance services for its clients nation-wide.
The Toyota Users Conference is an annual affair that seeks to update the brand’s users on the frequent changes in the global automobile industry, especially those relating to Toyota.
The one-day conference brought together government, commercial as well as private users of all kinds of Toyota vehicles nation-wide.
The Managing Director of Toyota Ghana Company Limited (TGCL) , Mr Takahiko Takabayashi, told the Daily Graphic in an interview after the company’s 2011 Users Conference in Accra that the company’s policy of producing most of its parts outside its country of origin had shielded it from the direct effects of the earthquake.
He explained that, most of Toyota’s products used in Ghana are sourced from Toyota’s sister producing countries.
Japan last March witnessed a severe earthquake that resulted in a 30-foot tsunami, which led to the distraction of thousands of lives and industries including TMC, the global leader in the car manufacturing industry.
The TGCL MD said the TMC’s mode of production had helped to insulate it from the effects of the country’s most deadly disasters ever.
“Yes, the product Toyota is from Japan but we produce most of our parts and vehicles outside Japan. So, under such situations (such as a disaster), we still have other sources from whom to rely,” Mr Takabayashi said.
He, however, mentioned that the company was currently recovering from its 29 fall in sales.
“The market is recovering. We’ve had high sales this year as compared to what happened two years ago,” he said.
The Sales Manager of the TGCL, Mr Andy Lamptey, had earlier called on users of Toyota vehicles nation-wide to develop frequent maintenance culture as a way of preventing their vehicles from deteriorating at a faster pace.
He said the huge investments required in acquiring a vehicle only made it proper that “we give regular care to our vehicles to prevent them from breaking down totally and even compounding the cost on us.”
He further called on those living in and around Tema to patronise the company’s Tema maintenance facility saying “that facility was actually built for your convenience.”
Management of the TGCL also used the conference to announce specific discounts on some of the company’s vehicles and maintenance services for its clients nation-wide.
The Toyota Users Conference is an annual affair that seeks to update the brand’s users on the frequent changes in the global automobile industry, especially those relating to Toyota.
The one-day conference brought together government, commercial as well as private users of all kinds of Toyota vehicles nation-wide.
Tuesday, June 7, 2011
A dream delayed, not abandoned • The case of Ela Manufacturing Company
If dreams and expectations were time-bound, then those of the proprietor of Ela Liquid Soap and Yoghurt manufacturing company would have been shelved. Maxwell Adombila Akalaare chronicles the business path of Mrs Elizabeth Enyonam Agbeli, the woman behind the enterprise
Twenty years ago, lack of finance and a difficult operating environment nearly stalled the birth of what is now Mrs Agbel's Ela Liquide Soap and Yoghurt manufacturing company.
Mrs Agbeli’s dream of becoming an entrepreneur blossomed after she survived an accident that prevented her from continuing her business as an inter-city foodstuffs retailer. Incidentally, it was this same incident that was to spur her on to firm up her decision to become an entrepreneur.
She said a near fatal accident during one of her journeys to buy foodstuffs for retail scared her away from that business, forcing her to rigorously explore other ways of realising her entreprenuership dreams.
The middle-aged Mrs Agbeli told the GRAPHIC BUSINESS that way back in 1991, her passion to become an entrepreneur compelled her to participate in an entreprenuership programme organised by the National Board for Small Scale Industries (NBSSI) in Sunyani.
“At that entreprenuership course, the NBSSI facilitators taught us how to set up a business, manage it, as well as other basic accounting and marketing principles to be applied in the business,” she said.
However, she had barely started the business when she realised that lack of capital was another hurdle she had to confront.
“I did not have enough money to start my own business,” she recalled, adding that the perceptions of her banker-husband did not equally help matters.
“He would always tell me to look at those big factories and ask, where are they? They are all gone and you, a woman, want to go into business. Go, if you have the money.”
Mrs Agbeli, however, persevered in her quest to ran a successful enterprise, although with a partly dampened spirit to contend with, since she was an inter-city foodstuffs retailer.
In that foodstuffs business too, Mrs Agbeli said the issue of limited finance kept rearing its ugly head up, prompting her to intermittently seek for finance from the country’s sometimes unyielding financial institutions.
A near accident and the scare
Mrs Agbeli, who now rans the Ela Liquid Soap and Yoghurt manufacturing company, said after that gruelling accident, she quickly took advantage of an opportunity afforded by the Training Teachers Association in 2003 to study liquid soap production. But again, she said, the same lack of finance withered the fruits that would have come from that study, at least after the few years thereafter.
“After I had learnt liquid soap production, how to get the materials to start the business was just a problem. I could not get money again to buy the needed equipment,” she recollected rather sadly.
But that, according to Mrs Agebli, was again not enough to deter her desire of becoming an astute business owner.
The relief and now the odds
Having braced the odds for all these years and not abandoning the dream, Mrs Agbeli said she managed to mobilise some capital and started the Ela Liquid Soap and Yoghurt manufacturing company at Ofankor Barrier in 2009.
Nearly two years into the entreprenuership, however, Mrs Agbeli said her frustration were even mountainous but not enough to discourage her from the trade she had spent almost a decade to develop.
“I currently produce 200 bottles liquid soap and 100 bottles of yoghurt per week. Market for the products is now my problem. There’s no one to buy them and the few who do, do it on credit," she told the GRAPHIC BUSINESS.
“See, even the food vendors, whenever they go to the market to buy the liquid soap, they pay cash for it but when I send mine to them, they collect on credit yet if I go to collect my money, then they start counting their figures and later it becomes a quarrel," she lamented.
Currently, the factory is producing below capacity because of the lack of market and now she only relies on sales across churches and other social events to sell her products.
The perishable nature of Mrs Agebli’s products, especially the yoghurt, does not equally help matters since most people, according to her, find it difficult paying for the credited yoghurt after they have consumed it.
Unreliable power and AMA blues
Not all are impressed by the Accra Metropolitan Assembly (AMA) mayor, Mr Alfred Vanderpuye’s supposed ambitious plans of ridding the streets of hawkers and subsequently turning Ghana’s disorganised capital into a Millennium City.
Mrs Agebli is one of such people. Far away near the Ofankor Barrier, along the Nsawam road, she said the AMA’s ban on street hawking was further disturbing her already lean market for Ela Yoghurt.
“I used to give some of the yoghurt to the junior high school students to sell, especially when they were on holidays. But now, the AMA task force always drives them away from the streets,” she stressed.
The country’s unreliable electricity supply has equally impacted negatively on the business. According to her, most of the provisions shops that used to purchase her yoghurt are now scared to do so “because of the on-and-off power situation. They always say if they collect them, they may go bad. So, they too have stopped collecting the products.”
So how is Mrs Agebli surviving in the midst of the odds?
“I have always believed that I will go far and Ela would be larger. I keep praying and working hard for God to make a way for me,” she said.
Mrs Agbeli explained that she sometimes had to rely on her initial profession as a seamstress to brace the odds of the manufacturing sector and that she was currently considering adding fruit juice production to the line of products. GB
Elizabeth is on 0245104309
In our next issue, we will feature Ms Fanny Aggrey-Fynn Amissah, the lady who runs Me ‘n’ Eu Collections, a beads and hats company at Tema Community Seven and also doubles as an actress.
Twenty years ago, lack of finance and a difficult operating environment nearly stalled the birth of what is now Mrs Agbel's Ela Liquide Soap and Yoghurt manufacturing company.
Mrs Agbeli’s dream of becoming an entrepreneur blossomed after she survived an accident that prevented her from continuing her business as an inter-city foodstuffs retailer. Incidentally, it was this same incident that was to spur her on to firm up her decision to become an entrepreneur.
She said a near fatal accident during one of her journeys to buy foodstuffs for retail scared her away from that business, forcing her to rigorously explore other ways of realising her entreprenuership dreams.
 |
| Mrs Agbeli admires her Ela liquid soap |
The middle-aged Mrs Agbeli told the GRAPHIC BUSINESS that way back in 1991, her passion to become an entrepreneur compelled her to participate in an entreprenuership programme organised by the National Board for Small Scale Industries (NBSSI) in Sunyani.
“At that entreprenuership course, the NBSSI facilitators taught us how to set up a business, manage it, as well as other basic accounting and marketing principles to be applied in the business,” she said.
However, she had barely started the business when she realised that lack of capital was another hurdle she had to confront.
“I did not have enough money to start my own business,” she recalled, adding that the perceptions of her banker-husband did not equally help matters.
“He would always tell me to look at those big factories and ask, where are they? They are all gone and you, a woman, want to go into business. Go, if you have the money.”
Mrs Agbeli, however, persevered in her quest to ran a successful enterprise, although with a partly dampened spirit to contend with, since she was an inter-city foodstuffs retailer.
In that foodstuffs business too, Mrs Agbeli said the issue of limited finance kept rearing its ugly head up, prompting her to intermittently seek for finance from the country’s sometimes unyielding financial institutions.
A near accident and the scare
Mrs Agbeli, who now rans the Ela Liquid Soap and Yoghurt manufacturing company, said after that gruelling accident, she quickly took advantage of an opportunity afforded by the Training Teachers Association in 2003 to study liquid soap production. But again, she said, the same lack of finance withered the fruits that would have come from that study, at least after the few years thereafter.
“After I had learnt liquid soap production, how to get the materials to start the business was just a problem. I could not get money again to buy the needed equipment,” she recollected rather sadly.
But that, according to Mrs Agebli, was again not enough to deter her desire of becoming an astute business owner.
The relief and now the odds
Having braced the odds for all these years and not abandoning the dream, Mrs Agbeli said she managed to mobilise some capital and started the Ela Liquid Soap and Yoghurt manufacturing company at Ofankor Barrier in 2009.
Nearly two years into the entreprenuership, however, Mrs Agbeli said her frustration were even mountainous but not enough to discourage her from the trade she had spent almost a decade to develop.
“I currently produce 200 bottles liquid soap and 100 bottles of yoghurt per week. Market for the products is now my problem. There’s no one to buy them and the few who do, do it on credit," she told the GRAPHIC BUSINESS.
“See, even the food vendors, whenever they go to the market to buy the liquid soap, they pay cash for it but when I send mine to them, they collect on credit yet if I go to collect my money, then they start counting their figures and later it becomes a quarrel," she lamented.
Currently, the factory is producing below capacity because of the lack of market and now she only relies on sales across churches and other social events to sell her products.
The perishable nature of Mrs Agebli’s products, especially the yoghurt, does not equally help matters since most people, according to her, find it difficult paying for the credited yoghurt after they have consumed it.
Unreliable power and AMA blues
Not all are impressed by the Accra Metropolitan Assembly (AMA) mayor, Mr Alfred Vanderpuye’s supposed ambitious plans of ridding the streets of hawkers and subsequently turning Ghana’s disorganised capital into a Millennium City.
Mrs Agebli is one of such people. Far away near the Ofankor Barrier, along the Nsawam road, she said the AMA’s ban on street hawking was further disturbing her already lean market for Ela Yoghurt.
“I used to give some of the yoghurt to the junior high school students to sell, especially when they were on holidays. But now, the AMA task force always drives them away from the streets,” she stressed.
The country’s unreliable electricity supply has equally impacted negatively on the business. According to her, most of the provisions shops that used to purchase her yoghurt are now scared to do so “because of the on-and-off power situation. They always say if they collect them, they may go bad. So, they too have stopped collecting the products.”
So how is Mrs Agebli surviving in the midst of the odds?
“I have always believed that I will go far and Ela would be larger. I keep praying and working hard for God to make a way for me,” she said.
Mrs Agbeli explained that she sometimes had to rely on her initial profession as a seamstress to brace the odds of the manufacturing sector and that she was currently considering adding fruit juice production to the line of products. GB
Elizabeth is on 0245104309
In our next issue, we will feature Ms Fanny Aggrey-Fynn Amissah, the lady who runs Me ‘n’ Eu Collections, a beads and hats company at Tema Community Seven and also doubles as an actress.
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