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Register with Data Protection Agencies to protect customers…Glydetek Group CEO tells Financial Institutions
The Chief Executive Officer of the Glydetek Group Limited, an institution that provides banking services to financial institutions, Mr Justice Adade has called on financial institutions, especially cooperative unions to register with Data Protection Agencies in the country to protect their customers’ confidential information to prevent fraudsters from attacking them.
According to him, even though technology was necessary to advance the work of financial institutions, it was important that they become aware of the many fraudsters who have emerged and using all means to defraud customers in the country and around the world.
“It is good for the financial institutions to embrace technology or digitization to enhance their work in this era of technological advancement, but it is also necessary they adopt all means to protect customer data to prevent these fraudsters from reaching them,” he said.
Mr Adade was speaking at the 2022 Annual glGeneral Meeting of the Cocoa Research Co-operative Credit Union (CRCCU) Limited held over the weekend on the theme: “Digital, Technology for Financial Institutions.”
The meeting which brought together members of the Cooperative Union, was purposed to enable the board to give an account of their activities, over the period under review to members and assess challenges, achievements and way for forward.
Mr Adade noted that even though technology came with it challenges such as encountering fraudsters, it would be expedient that co-operative unions join the digitization agenda by embracing technology to enhance their work.
He said banks in the country have currently embraced technology as well as other financial institutions, adding that the cooperatives should not allow themselves to be left out.
“Rather do everything possible to protect your customers’ data and educate them on ensuring that they do not share confidential information with people outside the bank,” he reiterated.
He expressed worry over some customers who still preferred the traditional way of banking where they preferred to use the banking halls, indicating that technology has brought about mobile banking services that they could embrace to cut cost of money, time, and transportation in transacting business with the banks.
He said benefits including convenience, safety for customers as well as wider outreach, liquidity growth and increase in liquid margins for the banks would be achieved and added that it would make life easier for both customers and the banks.
For his part, the Chairman for the CRCCU, Mr George Akumfi Ameyaw stated that the cooperative has intended to go digital to enjoy the benefits that come with digitization and hence have started mobile banking services which was being offered to customers who cannot patronize the banking hall or would want to do transactions at the comfort of their homes.
He congratulated the board and members for their cooperation over the year under review and revealed that membership has grown to 3,014 members in 2022 from 2,211 members in 2021, indicating a growth of about 36 percent and revealed total assets of the co-operative has increased to GH26 million as at December 2022 from GH21 million in 2021.
From Ama Tekyiwaa Ampadu Agyeman, Tafo
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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
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Prophet Courage Heavens set to launch ‘Predestination’ book on March 23
Prophet Courage A. Heavens is set to launch the much-awaited book titled ‘Predestination’ on Sunday, March 23, 2025 at 5:00PM.
The launch, which is expected to impact lives, will take place at Crossgates Ministries, Flattop, off N1 Highway, opposite Angel Hauz.
The book is aimed at addressing the way people struggle to understand how free will and destiny align.
It is also aimed at providing clarity on God’s sovereignty and one’s place in His divine plan.
The various chapters of the book address various issues through scriptures and personal stories.
Committed to impacting society, part of the proceeds from the book will go into Courage Heavens Education Legacy (CHEL), an educational foundation transforming lives.
CHEL is dedicated to providing financial support and mentorship to brilliant but needy students, ensuring they have access to quality education and opportunities for a better future.
Prophet Courage Heavens is a prolific writer and previously authored Eli Eli Lama Sabachthani, a powerful book that encourages unwavering faith in times of trials.
In addition, he has written seven more prophetic and life-changing books that are yet to be published.
He is dedicated to raising the next generation for impactful ministry. As the leader of Crossgates Ministries, he nurtures believers in faith and purpose.
