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Bola Ray inducted 1st Vice-Chair of India-Africa Trade Council

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Ace broadcaster and CEO of EIB Network Nathan Kwabena Anokye Adisi widely known as Bola Ray has been inducted as the First Vice-Chairman of the India-Africa Trade Council.Bola Ray made the announcement of his new role on Saturday, October 30 via his official Instagram page.In making the announcement, he expressed a strong conviction that the new feat would spell a new dawn for Africa and Indian businesses to create lasting relationships for the benefit of both parties.He wrote “last week, I was inducted into office as the First Vice Chairman of the India Africa Trade Council. It is my earnest hope that this spells a new dawn for African and Indian businesses in creating equitable trade exchanges for mutually beneficial outcomes.”The India-Africa Trade Council is an entity that engages business in India and African countries offering unparalleled access to industry-specific trade data, business introductions, networking opportunities, education, investment opportunities, documentation, trade license, etc.Bola Ray has carved a niche for himself having expanded his global footprints by forging unending relationships with organizations and countries around the world.He has in the past few years opened opportunities and has established Ghanaian and international relationships with France, Britain, Italy, amongst others.As part of this spur, the astute businessman recently paid a visit to the Morrocan Ambassador to Ghana H.E. Imane Ouaadil, where both parties discussed prospects for Moroccan and Ghanaian relationships.His drive to ensure that not only Ghana, but Africa extends its wings to the rest of the world in all facets including trade, entertainment, travel, tourism, etc has seen him travel the world to ensure these prospects are established and solidified.• Photo Credit: ABD• Story: Senanu Damilola Wemakor


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Prince Nelson Opoku (Genius) is Ghanaian - Nigerian professional entertainment Blogger and Entrepreneur. He is the Founder & Owner of Nelson Genius Limited, Glitz Empire Media Networks and Ghana Beat Media Inc.

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Malawi government appoints Mike Tyson Cannabis Ambassador

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Mike Tyson is an individual with a rich and varied history over the course of his life, some of incredibly positive and some of it not so, and now the former Heavyweight champion has become the cannabis ambassador to Malawi.The Ministry of Agriculture of Malawi sent Tyson a letter asking him to take the aforementioned position in the south-eastern African nation, which legalised the medicinal and industrial use of cannabis in 2020, in order to promote economic growth and diversify its economy as the tobacco market declined.Malawi relied on tobacco for a long time, and it represents around 13 percent of the nation’s GDP and 60 percent of its foreign exchange earnings. With the tobacco industry having fallen, the Malawian government decided that the cultivation of cannabis as an alternative would help the country from an economic standpoint.Tyson has grown synonymous within the field of cannabis use, mainly due to his podcast, and this is why he is being turned to by Malawi in their hour of need.However, the drug is still illegal on a recreational basis, and there are in fact significant levels of resistance to changing that measure.The technical knowledge for effective cannabis cultivation is lacking, whilst farmers have been critical of high government tariffs placed on the sale of the plant.However, the Malawi government believes it is worthwhile persevering with the endeavour as it will ultimately bolster their economy.Tyson has been asked to help the local farmers with regards to cultivating the plant, as well as changing the opinion of the drug amongst the population of the nation.“Malawi may not be able to do it alone, as the industry is complex and requires collaboration, therefore I would like to name you Mr. Mike Tyson, Malawi’s Cannabis Ambassador,” the letter from the Malawi government read.
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Gov’t pays GH¢5.7bn of debts owed SSNIT — Starr Fm

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The government has since 2017 made payment of GH¢5.77 billion to clear part of the social security contributions owed to SSNIT, the latest update from the Social Security and National Insurance Trust (SSNIT) has shown.
Delays in the payment of due contributions by the government have been cited in the actuarial valuation reports as hampering the scheme’s level of investible funds. Indebtedness by the government to the Trust continues to hurt the scheme’s compliance rates and long-term sustainability.
SSNIT in its update assured that management has not relented in its efforts to retrieve all arrears owed the Trust by employers to improve the sustainability of the Scheme.
“It must be noted that government has since 2017 paid GH¢5.77billion to clear social security contributions owed by successive governments. SSNIT continues to actively engage government, the largest employer, to pay the contributions of its employees,” the Trust highlighted.
As of September this year, 7,951 criminal cases were pending in court against defaulting employers. Likewise, over 500 employers – including the government – have arranged for terms of the settlement.
According to the Africa Centre for Retirement Research (ACRR), indebtedness to the Trust almost doubled in 2018; given that delay in contribution, payment has been assessed to have a tremendous impact on the long-term cost of the scheme. Over 75 per cent of indebtedness to the Trust is by the government.
“It is imperative that government settles its outstanding indebtedness to the Trust and sticks to the payment schedule as stipulated by section 63 of Act 766. As well, this will present a good example for private sector employers to follow,” ACRR said in its research report.
Private-sector indebtedness
Over GH¢230million remains outstanding in debt by the private sector as of September 2021 to SSNIT. This is expected to go up further if the Trust retrieves all outstanding contribution reports and updates inspections on all establishments.
The Director-General of the SSNIT, Dr. John Ofori-Tenkorang, said the Trust takes no delight in taking legal action against employers, but it has become necessary for SSNIT to fulfil its obligation to pay retirement benefits.
SSNIT also assured all stakeholders and the public that the Scheme presently has enough reserves to pay all accruing benefits due to members and their validly nominated dependants.
“The Trust, therefore, assures all members and the public that it will continue to ensure prudent management of funds to enhance the long-term sustainability of the Scheme,” it said.
Source: B&FT

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Ghana (Covid-19 Updates)

😷 130,920 Total Cases
😥 1,209 Deaths
😇 129,042 Recovered
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