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Provide tax incentives to research institutions – Prof. Mustapha to African leaders
Prof. Abdullahi Mustapha, Director General and Chief Executive Officer(CEO) of the Nigerian National Biotechnology Development Agency (NABDA) has appealed to African leaders to waive tax tariffs for private and international organizations who are interested in funding research institutions.
He explained that relieving the tax burden on research-focused organizations would attract investors and create an enabling environment for research.
Prof. Mustapha was speaking as a panel member on the theme: “The role of biotechnology and emerging technologies in transforming agriculture and food systems in Africa” at the African Conference on Agricultural Technology (ACAT) in Kenya, Nairobi.
The five-day event brought together scientists, farmers, researchers, academia, and policymakers.
He said the government has limited funds to finance issues related to biotechnology but can provide incentives that promote adaptation investments, offer risk guarantees, and use procurement contracts that help secure the demand for climate-resilient products and services.
“Governments can use mechanisms like taxes, levies, fees, and royalties to raise funding that allows financial support to be offered for climate risks assessment; extension services including partial credit guarantees, political risks guarantees, and blended finance to help bear the risk adaptation investment, particularly for large-scale investment,” he stated.
Adding her voice to the creation of an enabling environment, Ms. Patience Koku, CEO Replenish Farms said it was time policymakers adapted to biotechnology in order to help with the issue of climate change.
She said that world leaders meet periodically to find measures to address climate change and that one of the potential measures to help in finding solutions to the canker was biotechnology.
“With the usage of genetic seeds, farmers would not have to use a lot of agrochemicals to yield plenty of crops adding that climate change is affecting the biology, distribution, and outbreak potential of pests in a vast range of crops and across all land uses and landscapes” she stated.
She said up to 40 per cent of the world’s food supply was already lost to pests; the reduction in pest impact was more important than ever to ensure global food security, reduce application of inputs, and decrease greenhouse gas emissions.
Dr Titus Alicai, Director of Research and Postgraduate Studies, National Agricultural Research Organisation (NARO) asked for the building of more infrastructures for local scientists so they could do more research.
BY BENEDICTA GYIMAAH FOLLEY
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GEXIM deepens relations with US EXIM Bank
A management team of the Ghana Export – Import Bank (GEXIM) led by the Acting Chief Executive, Sylvester Mensah met with the leadership of the Export–Import Bank of the United States (US EXIM) on Wednesday April 23, 2025 in Washington DC, United States of America.
The Acting President and Chairman of US EXIM, Mr. James C. Cruse and Vice President, International Relations, Ms. Isabel Galdiz received the GEXIM delegation, which included Deputy CEO for Banking, Mr. Moses Klu Mensah and Head of International Cooperation, Mr. Jonathan Christopher Koney at the headquarters of US EXIM.
The meeting offered the GEXIM team the opportunity to share the strategic direction of the Bank in line with the resetting agenda of the President of the Republic, His Excellency John Dramani Mahama for the repositioning of the Ghanaian economy into an export-led one by providing the requisite investment to Ghanaian businesses.
Mr. James C. Cruse expressed US EXIM’s eagerness to deepen its existing relations with GEXIM and proposed the signing of a new Cooperative Framework Agreement following the expiration of a Memorandum of Understanding signed in 2019 to utilize US EXIM’s medium term loan guarantees to procure machinery by GEXIM for qualified Ghanaian Small and Medium-sized Enterprises (SMEs).
Mr.Sylvester Mensah thanked the Acting President and Chairman of US EXIM for hosting the GEXIM delegation and reaffirmed the Ghanaian government’s commitment to strengthening trade and investment between Ghana and its global partners for economic transformation of Ghana with GEXIM playing a pivotal role.
The two teams will be meeting on the sidelines of the 2025 US EXIM Annual Conference on 29th and April 30, 2025 to explore possible areas of collaboration and matching Ghanaian businesses to American companies. The meeting ended with an exchange of gifts.
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Many SOEs have been used as mere instruments for personal wealth accumulation –Pres.Mahama
President John Dramani Mahama has expressed concern over the misuse of State-Owned Enterprises (SOEs) for personal financial gain by individuals in leadership positions.
Speaking during a meeting with Chief Executives of specified entities under the State Interest and Governance Authority (SIGA) on Thursday, March 13, the President directly attributed the dire state of SOEs to their leadership, accusing chief executives, management teams, and governing boards of prioritising personal enrichment over organisational efficiency.
He pointed to bloated budgets, unjustified allowances, and unnecessary expenditures as factors draining public funds while SOEs continue to rely on government bailouts.
“Many SOEs have been used as mere instruments for personal wealth accumulation by appointees. The chief executives, management, and boards of these enterprises are responsible for this situation. Some SOEs have become perennial loss-makers, draining public funds with bloated budgets, unjustified allowances, and unnecessary expenditures while relying on government bailouts as if entitled to them. Many of these entities are at their lowest point in the entire history of the Fourth Republic,” he said.
President Mahama further noted that many SOEs have been plagued by inefficiencies, corruption, and mismanagement, leading to consistent financial losses. He cited the 2023 State Ownership Report by the State Interests and Governance Authority (SIGA), which highlighted systemic inefficiencies and wasteful expenditures within these entities.
He therefore reaffirmed his commitment to reforming under-performing SOEs and ensuring they serve national interests.
He warned that loss-making SOEs will no longer be tolerated and will either be merged, privatised, or closed.
“I will assess you based on your performance. If you do not align with the pace of the reset agenda, you may be asked to step aside. If that adds to the horror movie, so be it,” he added.
Source: Myjoyonline.com
