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Press spotlight on German support for Ghanaian companies to use solar energy, and more

German government support for a project aimed at Ghanaian companies using solar energy and promoting sustainable energy solutions as a viable alternative to conventional power generation in Ghana, Ghanaian press outlets said on Wednesday. is one of the trending stories of The German government is supporting a project aimed at encouraging Ghanaian companies to use solar energy and promote sustainable energy solutions as a viable alternative to conventional power generation in Ghana. .

The project, called the “Project Development Program (PDP)”, is being carried out by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) as part of the German Energy Solutions Initiative of the German Ministry of Economic Affairs and Climate Action. and emerging countries.

Under the PDP, Germany, a pioneer in climate-friendly energy solutions, is helping Ghana and other beneficiary countries to integrate renewable energy and energy efficiency incentives into their national energy mix.

This was announced yesterday at the start of a week of training in Accra for selected stakeholders participating in projects in Ghana.

The 40 participants included electrical engineers from solar power companies, engineering students, representatives of financial institutions that provide green finance, lawyers, distribution and marketing firms.

The training aims to give local companies practical experience and connect them with German experts in the solar industry.

To provide participants with the opportunity to strengthen the project development skills of local practitioners and to establish long-term partnerships with leading German companies in the solar industry.

Craig Wong, lead trainer at PiBerlin, project lender technical advisor, said that in Ghana, the early stages of projects are designed to work anywhere, such as installing solar solutions on the rooftops of commercial and industrial buildings. He said he would focus on simple solutions that energy cost.

Ghanaian interior solutions company Dellino Exclusive will partner with about 17 Spanish companies to start producing European standard interior products and accessories over the next four years, according to the newspaper.

The partnership will help build local manufacturing capacity and deliver high quality interior solutions that can compete with the influx of inferior substitutes in the Ghanaian and African markets.

To that end, a brand new showroom has been established in East Legon in the Greater Accra region, intended to host the products and solutions of all 17 Spanish companies.

Dellino Exclusive is a multi-brand interior solutions company and sole distributor of European luxury brands and manufacturers across Africa.

Edmund Nminyem Delle Jr, CEO of Dellino Exclusive, which opened a three-story infrastructure in Accra last Friday, said the interior solutions company had a clear vision to help the country’s industrialization efforts. I said I had a plan in place.

He explained that the company will initially import goods and products from manufacturing hubs in Spain, but will begin local production over the next 48 months.

Talks with relevant stakeholders are already underway to set up a manufacturing facility in Ghana to produce locally, he said.

“We also want to set up a local workshop to improve the skills of Ghanaian craftsmen to global standards.

The challenge in Ghana is skilled manpower, not raw materials for products,” he said.

The Ghana Times reports that the government and the Ghana Bankers Association (GAB) have made significant progress on the conditions for banks’ participation in the Domestic Debt Exchange Program (DDEP), the finance ministry said.

A statement released yesterday by Accra’s Ministry of Finance said, “The deal includes a final improvement to the terms of the DDEP, namely an agreement to pay a 5% coupon in 2023 and a single bond for each of the 12 new bonds. It contains an agreement to pay a coupon rate.The effective interest rate is 9%.”

Second, the operational framework and terms of access to the Ghana Financial Stability Fund (GFSF) have been clarified.

Third, we deleted or amended all provisions of the exchange memorandum that allow the Republic to change the terms of the exchange at its sole discretion.

“GAB recognizes the progress made to date and the participation of member banks in the DDEP under the new terms will be subject to each bank’s internal governance and approval process, but in any event by 30 January 2023.” the statement said.

The Africa Street MBA Accelerator program, which aims to provide integrated regional support to the country’s startups and SMEs, was launched yesterday in Accra by management consultancy and investment firm DONE BY US, according to the newspaper. it was done.

In collaboration with the KGL Foundation, the program aims to influence young people with world-class business knowledge, building on the content of top MBA curricula and entrepreneurship courses.

It is aimed at marginalized groups (women, the poor, the less educated) who have innovative business ideas or already established businesses.

DONE BY US founder Wang Awudu Wellington said in a speech that the program would help reduce the high rate of entrepreneurial failure in the country and, by extension, on the African continent.

He also said it would provide a platform for disadvantaged young people from poor backgrounds and low education but with good ideas and existing businesses to benefit from world-class business development programs.

“In most cases, the young ladies of Tatale Sangri Street and the young gentlemen of Autz/Senjabrek Street do not benefit from business development programs and have the opportunity to build world-class businesses.

That’s why the Africa Street MBA was developed to impact young people with world-class business knowledge based on the best MBA curriculum and entrepreneurial course content,” he added.

Wellington said the Africa Street MBA is designed to fill gaps in business knowledge and help young people from poor backgrounds and lower education gain the opportunity to build world-class companies.

Kosi Yankey-Ayeh, chief executive officer of the Ghana Enterprise Authority (GEA), who was a guest speaker in a speech read on her behalf, said the country would achieve rapid economic development. The private sector could not be sidelined, but rather strengthened to support economic growth and development.

“The stronger our micro, small and medium-sized enterprises (MSMEs) are, the more they will contribute to job creation and poverty reduction, which will greatly contribute to strengthening the government’s revenue-generating streams,” she said. added.

Nii Ankonu Annorbah-Sarpei, Program Manager of the KGL Foundation, reiterated the Foundation’s commitment to the socio-economic development of youth and Ghanaians in general.

He said the KGL Foundation believes in the growth and empowerment of young people, which is essential to achieving national, sustainable, and personal development.

Nii Annorbah-Sarpei believes that the partnership with DONE BY US will have a positive impact on the lives of young people, especially women and the less educated and uneducated, create employment opportunities, and provide mechanisms for innovation and new businesses. expressed optimism that it would support

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