oBank of Ghana meets Ghana National Chamber of Pharmacy on Credit Reporting System

Before the meeting on 11th May, 2023, a statement issued by the BoG said the expanded list will now include; telecommunication companies, utility companies, retailers, mobile money operators, financial technology companies (FinTechs) and government institutions that offer credit to MSMEs hence the meeting with GNCoP members.

Dr. Kwasi Osei-Yeboah who is the Assistant Director at Bank of Ghana started his speech by expressing his sincere gratitude to all for honoring the invitation, particularly the Ghana National Chamber of Pharmacy (GNCoP) for according to Bank of Ghana the audience when this process started. He continued by stating that Bank of Ghana is pleased to have been in locked-step through the on-boarding process for the Chamber to become data providers in the credit reporting system.

“While we take an industry-wide view of developments in the credit reporting space and for that matter promote broad participation across relatable segments, we see significant upside for entities that sign on. In the scenario where the generation of trade credits feature prominently in business operation, having some level of certainty about the credit worthiness of associates is a critical ingredient to mitigate risks in business decision-making,” he added

Pharm. Harrison Kofi Abutiate who is the current Chairman at Ghana National Chamber of Pharmacy (GNCoP) started his address by welcoming every participant that day including the organizers of the educational session, Bank of Ghana on behalf of the National Executive Council (NEC) and all members of Ghana National Chamber of Pharmacy (GNCoP)

“A major Government of Ghana policy is to make Ghana the pharmaceutical hub in Sub Sahara Africa. It is our expectation that all being well, within the next short to medium term, Ghana will be able to produce 60% -70% 0f medicines that are consumed locally and for export. Other major policy areas are Textiles and automobile industry,” he added.

“As you may know, this is criminal!  Pharma industry Wholesalers also have this unwritten law of giving 30 days credit to community pharmacies and other clients without any reference as to their ability to pay on due date. I must confess that public institutions also have failed most of us by unduly delaying payment to pharma suppliers and yet the government agencies are the first to come and hold us to ransom, to payment of all manner of taxes upfront.” he retorted.

Pharm Abutiate quoted, “Pursuant to the Credit Reporting Regulations, 2020 ( L .I .2394) the list of institutions required to participate in the Credit Reporting System (CRS) established under the Credit Reporting Act 2007 (Act 726) shall include corporate companies that provide credit facilities.”

“It is in respect of this that, the National Executive Council of the Ghana National Chamber of Pharmacy on Thursday 2nd June 2022 organized by Samuel Kwame Boadu, the administrative officer and Digital Marketing Consultant for Chamber of Pharmacy, Ghana, met with the Bank of Ghana Team from the Financial Stability Department at the Chamber’s secretariat to discuss the modalities leading to the designation of the Chamber as Data Providers to credit bureaus, in respect of credit facilities given by pharmaceutical companies to hospitals, clinics, companies and institutions.

This will enable pharmaceutical companies the opportunity to obtain this service, from Chamber, on the credit behavior of clients prior to establishing credit relationships with them,” he continued.

Pharm. Kofi Addo-Agyekum, Founder of Kofikrom Pharmacy Limited, who is a member of the National Executive Council (NEC) of Ghana National Chamber of Pharmacy, gave a speech on the overview of the operations of the Pharmaceutical Industry focusing on the credit transactions of GNCoP’s members. He started his speech by recalling that when he graduated from the University around 1995 there was less competition in the pharmaceutical market, few industry players etc. so checks on operations in the pharmaceutical industry was easy hence issues of debt like what we are hearing now was not a problem.

“As of 2021, healthcare expenditure in Ghana was valued at GHS14.5bn (USD2.4bn), with public healthcare expenditure accounting for just over 45% of the overall market share. We expect this to increase as a proportion of total healthcare spending as demand for healthcare increases and gradual reforms to Ghana’s National Health Insurance Scheme (NHIS) are implemented.

Healthcare spending represents 3.5% of GDP with per capita spending at USD81.2. Private healthcare expenditure was valued at GHS8.4bn (USD1.4bn) in 2021, corresponding to 55% of the total market share. Within this market, the government of Ghana is a major player, both as a regulator of the market and as a buyer involved directly in the wholesale and supply of drugs and healthcare services. Concerns about the provision of relatively cheap and effective drugs to the mass population have led to several government-led and/or private sector-led initiatives in the pharmaceutical sector of Ghana yet the Government who is the major player is failing the pharmaceutical companies with delay payments. How can these pharmaceutical companies who are not paid on time continue with their businesses?” he questioned

“As we are being introduced to this Credit Reporting System, I will urge Bank of Ghana to review this system to include government led institutions and not only individuals and private led institutions and I think that will help the pharmaceutical companies keep track of all their debtors or debts,” he concluded.

Samuel Kwame Boadu, the administrator and part of the organizing team after every speech, bemoaned and concluded that Bank of Ghana in their capacity must talk to Banks to support the Community Pharmacies so they can continue to provide quality pharmaceutical care while paying their suppliers promptly to avoid dud cheques. By this, clients who are on medications for non-communicable diseases like hypertension, diabetes etc. would always have access to their medicines at affordable prices and live a longer quality of life.

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Healthcare and Medicines in Ghana now very expensive – Samuel Kwame Boadu

The cost of medical care and medicines sold in Ghana will remain high until the government eschews late payments of National Health Insurance Scheme (NHIS) claims to service providers.

The Administrative Officer and Digital Marketer at Ghana National Chamber of Pharmacy, Samuel Kwame Boadu explains that the late payment of claims is contributing to the high cost of healthcare in the country absolving members of the chamber from blame.

“Compare Ghana to other West African countries the cost of medical care is higher due to late payments of claims”, he revealed.

According to him, currency fluctuations and interest rate are among other factors affecting their operational activities compelling them to increase cost of services.

“The government in reimbursing the service providers do not factor in all these factors so at the end of the day, we have to pass the cost on to patients which makes the cost of medication quite high and I think this is not auguring well for us as a country”, he bemoaned.

He stated the arrears recently paid service providers is insignificant to ensure sustainability of the Scheme pleading that funds be released immediately for quality healthcare.

“After engaging government on several platforms promising to pay substantial amount of money we are expecting that government should have done at least more months”

“The government owes the people social responsibility in accessing quality healthcare. I do not think the government wants to collapse the NHIS but what are we seeing now? Do we have quality healthcare in Ghana now?” he asked.

Ghana National Chamber of Pharmacy members, suppliers of drugs to National Health Insurance Scheme (NHIS) subscribers few months ago declared a ‘cash and carry’ system due to nonpayment of money owed them by government.

Samuel Kwame Boadu, said pharmacies who take NHIS cards have no money and are unable to purchase drugs from suppliers anymore.

He said although they are willing to provide effective healthcare services government is not helping considering the accumulated amount in arrears.

Samuel Kwame Boadu indicated that government is the major beneficiary of services provided by these pharmacies and nonpayment of supplied medicines on time makes their work very difficult.

According to him, they are been pressured by producers, banks etc. to make payments but have no money to do that.

“We are overwhelmed by the situation. For months, we have not had payment for services rendered and this is gradually crippling our businesses. Importing medicines these days is very difficult and each time we import, we are expected to pay within few days but government does not also pay within that stipulated period. Some of the companies are folding up because government is not settling its indebtedness and owners have to contract loans at a high interest. Foreign companies are now taking over most of the companies in Ghana because the locals are unable to overcome some of these challenges”, he observed.

From Sammy Heywood Okine

The 2nd African Beach Games took place in Hammamet, Tunisia with 52 countries participating.

At the end of the competitions, the top three positions were secured by Algeria, Tunisia, and Morocco, respectively. West African giant, Nigeria was placed 4th best on the overall medals ranking

23 countries out of the 52 made it to the medals table, winning a total of 180 medals comprising 59 gold, 58 silver and 63 bronze medals.

Ghana competed in two disciplines, Open Water Swimming and Teqball which they won bronze. Ghana presented the smallest and youngest team.

Nigeria entered 10 events but ended up winning all its eleven medals -- six gold three silver and two bronze medals from five events.

Nigeria secured a total of 12 medals, including 6 gold, 3 silver, and 3 bronze tp place fourth. These extraordinary achievements came from a variety of sports, showcasing the diverse capabilities of the Nigerian contingent.

In Air Badminton mixed Team event, Oluwadamilola Oyedepo, Simeon Akinsola,  Kayode Samuel O and Zainab Momoh partnered to win a gold medal.

In the Mixed doubles, Oluwadamilola Oyedepo and Kayode claimed another gold medal.

In the Women's Triple event, Zainab Momoh, Sunday Chibuzo and Zainab Momoh tried hard but settled for a bronze medal.

The Men's Triple comprising Habeeb Temitope, Simeon Akinsola and Kayode Samuel clinched the Silver medal. 

In Tecqball, Nigeria earned a gold and two silver medals.

Nigeria's Beach Wrestling Team won the most medals -a whopping three gold as true champions.

In the 50 kg,  Mercy Genesis won a gold,  a feat also attained by two others Esther Kolawole,  60kg and highly skilled Blessing Oborodudu wrapped up with a 3rd gold in the 70kg weight class.

The events were held in the Seaside resort of Hammamet, Tunisia spanning eight days from June 23 to June 30, 2023.

Nigeria entered 10 events but ended up winning all its eleven medals -- six gold three silver and two bronze medals from five events.

The events were relatively new to many countries, particularly some of the landlocked countries without access to the seas,  rivers or waters of any sort.

But their relative performances have shown that virtually all teams were fast learners.

While the Games come naturally to some countries, particularly the North African countries  - Egypt,  Tunisia,  Libya,  Morocco and Algeria.

South Africa in Southern Africa is in league with North Africa's high performance in Beach events, being surrounded by Beaches. 

Even though Nigeria also has some of the best beaches in some major towns - Lagos,  Badagry,  Calabar, Eket,  Port Harcourt and Yanagoa as well as towns like Onitsha,  idah,  with Rivers where Beach Games can be developed but dogged by several other challenges. 

The challenges include developing beach sports physical planning and security concerns and the fact the average Nigerian does not think of leisure time.

Good leisure times help productivity according to experts in the field of health and well-being.

It is about time authorities in sports and leisure business come together to use sports to create a business around the beaches and promote tourism and job creation.

With Ghana’s large beach front, representatives from the Ghana Olympic Committee say the potential is hugh and efforts must start now to develop and promote beach sports.

From Sammy Heywood Okine

Master Steavano Kojo Tuekpe and his team from Germany today paid a working visit to the Ghana Olympic Committee (GOC) to inform them about the African Open Tournament coming up on July 14 and 15 at the Korea Sports Complex at Tema, Community 3.

He thanked Miss Farida Iddris, Administrative Manager for the warm reception and seek the support of the GOC in all his programs and events.

He said the event is free, but outstanding performance can earn a participant wonderful prizes.

He hinted that both male and female at from age 4 to 70 are welcome.

Miss Iddris said it is a wonderful project to unite five disciplines for an international tournament.

Present at the GOC were the Secretary Cynthia, Accountant Edem and Media Practitioner Elizabeth.

The disciplines to be competed are Judo, Karate Do, Taekwondo, Kickboxing and Mixed Martial Arts (MMA).

Interested participants can register at the various Federations or register at the venue.

Accompanying the WKU President and the organising team was Yours Truly.

By Sammy Heywood Okine

 … Promise Explosive Night Of Boxing

WBO Africa Lightweight Champion, Sheriff Quaye and Challenger, Bright Ayala have successfully weighed this morning at Dezone Beach Resort for tomorrow's big fight dubbed The REIGN.

The fight comes up on Saturday, July 8, 2023 at the Golden Beach Resort at Korle Gonno in Accra and the number of fans who turned up for the weigh in must prove that they are hungry for good bouts, and credit must go to Swavy Blu Promotions for putting up the showdown.

Sheriff Quaye weighed 135lbs against Bright Ayala at 131.05lb for the main bout of the night, and boxer boxers assured their supporters of victory.

Coaches Carl Lokko of Bronx and Dr. Ofori Asare of Wisdom were hopeful that their wards will entertain and display real classic Boxing.

Coach Naa Amerley Turkson who ushered Ayala indicated her seriousness for the bout and the title at stake.

WBO Africa Representative Samir Captan was there to supervise the weigh in.

In the undercards, amazing Emmanuel Quartey will face Bernad Adzewoda in a 143lbs weight class contest, while marvelous Moses Adjei Selvi fights Sampson Quaye in a 125lbs contest.

Isaac Taylor will meet David Nortey in a 126lbs fray, as Nana Tetteh and Stephen Cofie test each other in a 138lbs bout.

Nii Larbie Ashitey will take on Jones Quarshie in a 178lbs encounter, while Samson Solomon faces Kofi Raymond Ansah in a 149lbs fight and Moubi Sarouna will take on evergreen Felix Ajom in a 133lbs clash.

Stanley Nyantekyi faces Albert Armah in a 129lbs contest, while Issifu Salifu meets Amadu Seidu and Enoch Lamptey against Tackie Annan in a 143lbs fray.

Ishmael Tetteh will fight Prince Tetteh in a 163lbs contest, Isaac Aryee versus Henry Ashie in a 150lbs fray and West African Champion, Jacob Tetteh Laryea aka Chorkor Fire will test Bernad Tagoe in a 150lbs contest.

Ghana National Heavyweight Champion, Osmanu Haruna (278.30lbs) is also on the packed bill against Aduko Nsor (192lbs) in a Cruiserweight contest.

The event is supported by Dezone Beach Resort, Dreams Inn Hotel, Friendly Mall and the Golden Beach Resort, with the main partner, Bronx Boxing Gym / Promotions.

By Sammy Heywood Okine

National coach and President of the United Coaches Association of Ghana, Dr. Coach Ofori Asare has called on the President of the Ghana Boxing Authority (GBA), Mr. Abraham Neequaye and Mr. Alex Ntiamoah Boakye to find peace and amicable solutions to their problems and save the sport of Boxing in Ghana.

Speaking to Yours Truly on the latest developments which have led to the arrest of Alex Ntiamoah, the experienced Boxing trainer said when the two respected personalities trade unpleasant words and fight, it affects all the stakeholders and that is exactly what is happening now.

Coach Dr. Asare who is head trainer of the Wisdom Boxing Gym said his boxer is fighting tomorrow against Sheriff Quaye of the Bronx Gym for the WBO African title, but the confusion between the two high personalities has affected the bout, hence he is calling on them to smoke the peace pipe.

"In fact we are not happy with what is happening, and we must let our voices be heard because we are a family, all Boxing people are in a family, so there is no need to fight or call Police and others to help us solve our problems, I know this issue can be solved by able men in Sports and Boxing, so we should find peace and a solution. I beg both parties to show some respect to each other and the Boxing Family, so that we move on" he expressed.

Alex Ntiamoah Boakye, CEO of Box Office, arguably the best promotion outfit in Ghana was banned for two years by the GBA for organizing a bout recently amidst the ban on drumming and noise making in the Ga Traditional area.

The announcement of the ban caused some youth from Bukom to demonstrate at the office of the Ghana Boxing Authority (GBA).

Meanwhile, other boxing coaches, referees, and match makers have supported the call by Dr. Asare and urged the GBA Board to solve it as early as possible.

By Sammy Heywood Okine

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Annor Walker has made a surprising comeback to his former team, Great Olympics, after a season away in Samreboi.

The 62-year-old had left the Accra-based club to join FC Samartex 1996, a newly promoted team in the Ghana Premier League.

However, he has now signed a two-year deal to rejoin his former outfit, marking his return to the familiar environment.

During his tenure at FC Samartex, Walker led the team to a respectable 10th place on the 2022/23 Ghana Premier League table.

Despite this achievement, both parties reached a mutual agreement to part ways, leading to his departure from Samreboi.

Having previously caused distress for numerous clubs during his time with Great Olympics FC, Walker's return has sparked excitement among the club's fans.

The veteran coach finalized a two-year contract with the Blue and White team following successful negotiations held on Monday, July 3, 2023.

Walker's decision to return to the Accra-based club came after the team faced the threat of relegation in the recently concluded season.

Although there were rumors of his potential move to the prominent Accra Hearts of Oak SC, Walker ultimately chose to swerve the Continental Club Masters and rejoin his former team instead.

From Elizabeth Gyamfi

Ghana's women's national team, the Black Queens, now knows their opponent for the first phase of the 2024 CAF Women's Africa Cup of Nations (WAFCON) qualifiers.

During a draw ceremony held in Rabat on Thursday, July 6, it was revealed that Ghana will face Rwanda in the upcoming qualifiers.

The two-legged fixture will determine which team progresses to the next round.

The winner of the Ghana-Rwanda matchup will then go on to face the winner of the match between The Gambia and Namibia in the second round of the qualifiers.

The first round of qualifiers is scheduled to take place from September 18 to 26, 2023. Following that, the second round of matches is set to occur between November 27 and December 5, 2023.

From the second round, a total of eleven teams will qualify to join Morocco, the host nation, for the main tournament.

Ghana missed out on the previous edition after falling to Nigeria 2-1 on aggregate over the two legs.

FootballGhana

The Golden Beach Hotel at Korle Gonno will be the venue for the weigh in for the fight between WBO Africa Lightweight Champion Sheriff Quaye and Challenger Bright Ayala dubbed -The Reign.

According to Swavy Blu, the promoters, the weigh in will start at exactly 11am on Friday July 7, 2023.

Meanwhile, Coach Carl Lokko who handles WBO Africa Lightweight champion Sheriff Quaye says they are coming to perform as real champions, and want to keep the title to propel them to bigger opportunities.

Coach Asare and his team who take care of Bright Ayala at the Wisdom Boxing Gym also says they will give boxing fans a memorable night.

The event which has been sanctioned by the Ghana Boxing Authority (GBA) and WBO Africa is staged by Swavy Blu Promotions in collaboration with Bronx Promotions.

Quaye 28, also called ‘One Time has a record of 22-3-1, 14KOs.He is  now ranked 15 by the WBO.

Bright Ayala 25 has a record of 16-1-1, 11Kos, he has promised to put up the show of his life.

The undercards will feature promising boxing stars from the Bronx Gym and others who will get the chance on the bill. The like of Emmanuel Quartey, Issifu Labista Sulley, Stephen Coffie, Jacob Laryea aka Chorkor Fire, Emmanuel Mankattah Sackey and others are on the bill.

The gate fees for Saturday are very moderate for VIP, Ringside and Popular stand.

By Sammy Heywood Okine

Please note: During National trials for team Kenya on Friday 7th and Saturday 8th, an athlete can win the trials but if he/she does not meet the required time, he/she cannot make the team.

In such cases, an athlete who already recorded the required time even before the trials, he/she is selected to the team. These are RULES and not discrimination or corruption. KINDLY NOTE THAT!!

For example, if an athlete X wins the men 10,000m at the trial in a time of 27:25 and he has never recorded 27:10 in 10,000m within the qualifications period, the athlete does not make the team. However, if an athlete Z in the same trial finish 10th in a time of 28:11 but he he had run 27:10 a few months ago (within the qualifications period), the athlete can be selected to the team.