News
Businesses must brace themselves for the possible take-overs -– Rev. Okosun
Integrity Magazine, a subsidiary of Krif Ghana Limited, has held the maiden edition of a series of webinars aimed at promoting good corporate governance amidst the COVID-19 pandemic.
Themed “Effects of COVID-19 on Good Corporate Governance in Ghana”, which was held on Tuesday in Accra, it served as a platform for businesses to discuss the next strategic steps to take in order to sail through the coronavirus crisis with minimal losses.
Speaking on the effects of the pandemic on companies, Rev. Kennedy Okosun, Executive Chairman of Krif Ghana Limited and Publisher of the Integrity Magazine, said many organisations would “have to brace themselves for the possibility of take-overs”.
According to him, “there might be critical unanswered questions rummaging through the minds of many as we move into a period of a new normal.
“Our culture, corporate behaviour and organisational output are going to be affected, whether we like it or not. Organisations will never go back to doing business as usual, or doing business the way they knew how,” he said.
Rev. Okosun noted that businesses must be ready to embrace the positive or negative changes which may occur after the pandemic, adding that businesses would also have to make far “reaching decisions regarding liquidity and capital considerations”.
He argued that the COVID-19 era was also testing the leadership and management structures of organizations, hence the need for businesses to identify gaps and then strengthen the areas where they may be falling short.
Mr Michael Osikoya, the Chief Executive Officer of Mikensy Consulting Limited, examining the effects of COVID-19 on various stakeholders, also said, “Just as we are recording human fatality, we may not be able to account for the number of businesses that suffer similar ‘fatality’ from the hands of COVID -19.”
He noted that though the pharmaceutical industry was believed to have benefited from the crisis, industries including tourism and leisure, aviation and maritime, automotive, construction, real estate and manufacturing, were hard-hit by the pandemic.
“Government has been affected adversely by this virus because it has had to provide various stimulus packages and dole out free cash to support various stakeholders, interest groups, businesses and citizens.
“Hard decisions had to be taken, government has lost income from taxes and has resorted to borrowing as part of measures to bring the economy back on track,” he added.
For the solutions, Mr Osikoya suggested that business, leaders and stakeholders should enter into a “restart” mode to come out of the challenges the virus has imposed on them.
He said that all the various stakeholders in business such as the shareholders, employees, customers and others must forfeit certain benefits to bring back businesses on track.
The webinar brought together leaders from various organisations in the corporate environment in Ghana.
By Spectator Reporter
News
Craze for x’mas shopping: Crowded markets, low patronage
Vendors of food and other wares associated with the Christmas celebration have expressed surprise at the low patronage despite the increased number of visitors to some of the major markets across the capital.
Four days to the celebration(Christmas), the markets are filled with various products ranging from food, clothing, livestock and many other stuff, but according to the vendors, patrons are doing more ‘window’ shopping.
The Spectator on visits to some of the markets in the capital, notably the Odawna, Makola, Accra Central Business District, New Town and others made similar observations as shoppers crowd them but did little in terms of purchases.
The paper also observed that majority of vendors, originally selling other wares have switched to product related to the festive season.
What it means is that there are a lot more clothes, food and vegetables, livestock and poultry, toys, firecrackers, drinks of different types and many others on display.
The markets have also stretched to the pedestrian pavement, leaving very narrow spaces for commuters to move about freely.
That, in addition to a few of the female vendors dressed in coloured attires to reflect the occasion, has heightened the euphoria, leaving the low sales as the only headache for the vendors.
Speaking with this paper, they sounded very optimistic, believing that sales would improve in the last few days to the yuletide.
According to them, there was the opportunity to sell beyond Christmas as the New Year celebration offers similar opportunity to trade the same wares.
They urged patrons to throng the markets to shop since prices were quite moderate and products affordable for all.
News
Retirement service for Elder John Ackom-Asante,3 others
Retired Deputy Editor of The Spectator, Elder John Ackom-Asante, was last Sunday honoured by the Church of Pentecost Windy Hills District in Kasoa in the Central Region, with a retirement thanksgiving service, after serving for 26 year as an Elder of the church.
He was honoured with a citation and certificate of service along with three other elders who served in the capacity for various years.
Elder Ackom-Asante was baptised at the Darkuman Central Assembly in 1979 and ordained as an Elder in 1997.
The citation read “Your selfless service, zeal, willingness to relate wholeheartedly and your desire to effect change has gone a long way to shape the lives of many people in the church and the nation over the 26 years of your dedication to the service of the Lord.”
Elder Ackom- Asante held many positions at the Darkuman Central Assembly, Obuasi in the Ashanti Region and Tema, serving in various capacities as youth and evangelism ministry leader and marriage counsellor.
He was the founding member of the Darkuman Christian Fellowship, a member of the Greater Accra Christian Fellowship; member of Bible Society of Ghana; founding member Obuasi Chapter Full Gospel Businessmen Fellowship International and founding member of New Times Corporation Christian Fellowship and Chaplain, Methodist University Tema Campus 2009- 2010.
As a professional journalist, Elder Ackom-Asante combined effectively and efficiently his duty as a member and elder of the church and the demands of his profession, with admiration from the church, kith and kin, till his retirement on December
From Alhaji Salifu Abdul-Rahaman, Kasoa
