NEWSGH

Many workers in Ghana are expecting this year's May Day celebrations to focus on favourable motivation for labour.

A cross section of workers Radio Ghana spoke to said financial rewards for hard work is inadequate and workers are not happy with the situation.

The National May Day Parade will be held at the Independence Square (Black Star Square) in Accra on May 1, 2018 from 8:00am to 1:00pm.

Regional May Day Parades will also be held in all the ten regions of Ghana.

The Ministry of Trade and Industry has organised a day's sensitization workshop for investment stakeholders in Ho.

The workshop attracted members of the general public including civil society groups, small scale business operators, District Assembly staff, market women and Heads of Decentralised Departments of some Municipal and District Assemblies in the Volta Region.

It was aimed at engaging local entrepreneurs on the implementation of the government's one district, one factory policy, thereby encouraging them to deepen their understanding of the initiative.

The workshop also provided the participants the opportunity to seek more clarification on all government policies.

Addressing the participants, a Deputy Minister of Trade and Industry, Robert Ahomkah-Lindsay, stressed the need for business operators, investors and the general public to take advantage of the one district, one factory policy to improve their lot.

He noted that the benefits under the policy are enormous, adding that this is one sure way of turning around their businesses for economic prosperity.

The Volta Regional Minister, Doctor Archibald Letsa, commended the Ministry for its outreach tour across country and assured people in the Volta Region of government's commitment to fulfil all its campaign promises to the people of Ghana.

Studies have revealed that last year alone over $75 million was paid as demurrage at Ghana's ports with an estimated 48 million as Port Payment for Rent.

This has been described as worrying as it is one of the biggest disincentives to the growth of the Import and Export sector in the country.

Speaking at a seminar to sensitise importers and exporters to the development in Accra, Deputy Chief Executive of the Ghana Shippers Authority, Sylvia Dauda Owu, said the reduction of demurrage and rent payments is a priority, hence continuous engagement with stakeholders will be intensified.

A financial expert and Board Chairman of the Ghana Cooperative Union, Dr Charles Anane says Chief executives of all credit unions whose unions collapsed under their watch will be arrested and prosecuted.

To this end, the Union in collaboration with the police CID will ensure quick prosecution of such CEO's.

Speaking at the closing of the 20th educational and biennial conference of the Ghana Cooperative Union in Accra, Dr Anane said the notion that chief executives of cooperative unions who collapse their businesses are above the law must be cleared.

He said the savings of workers cannot be taken for granted and so persons who are put in charge to manage it must be proactive.

Chief executive of the Ghana Cooperative Credit Unions, Nana Kwesi Agyepong said the credit union business is profitable if the savings of workers are put in proper investments.

He urged unions to encourage their members to be contributors saying that in the credit union business, the larger the merrier.

The four-day meeting brought together experts from the bank of Ghana, the world of corporate business and member unions such as the BECCU.

The HFC Bank Ghana Limited has been rebranded to the Republic Bank Ghana Limited, as the Republic Financial Holdings Limited (RFHL) of Trinidad and Tobago takes over to give the Bank an international urge.

This would bridge the gap between doing business in the Caribbean and Ghana.

All its subsidiaries have also gone through the rebranding exercise and would now be known as Republic Investments Limited, Republic Boafo, Republic Brokerage, and Republic Securities.

The RFHL of Trinidad and Tobago also has subsidiaries in Grenada, Guyana, the Cayman Islands, Cuba, Barbados and Suriname.

The Republic Bank Ghana has existed for close to three decades in Ghana, having moved from non-banking financial institution to a universal financial bank.

The rebranding of HFC Bank as Republic Bank was the culmination of a transition that started more than four years ago when it became part of the RFHL Group.

Mr Anthony Jordan, the Managing Director of the Republic Bank, at a ceremony, said the new status would enable the Bank to sour higher with renewed level of standards set for employees and customers alike.

With the new identity, Republic Bank reflects the capabilities, innovation, energy and new found aggression of the Bank.

The ceremony was witnessed by the Deputy Finance Minister, Mr Kwaku Agyeman Kwarteng, Ms Elsie Addo Awardzi, the Second Deputy Governor, Mr Nigel Baptiste, President of the Republic Financial Holdings, clients and customers, as well as some friends of the Bank.

Mr Jordan said with the theme for the launch; “The Blue Sky,” the Republic Bank Ghana would become even more closely aligned with the other subsidiaries under the umbrella of the RFHL Group.

“We aim to be a key player in the Corporate Banking sector and the preferred family bank in the retail circle.

“Republic Financial Holdings Limited has one of the best products and service offerings in the world so part of our rebranding mandate is to enhance our product offering and introduce some of the features and benefits currently being enjoyed by customers in other Republic Bank territories, in Ghana,” he said.

“As we meet the needs of our employees, customers and shareholders in a responsible and caring manner, we are aware that we must leave this world a better place and we will achieve this by helping build successful and thriving communities in the territories we serve”.

He said the rebranding exercise marked the start of an exciting journey and assured customers and the public that the Bank was moving towards new horizons in banking and in social investment.

“We intend to strengthen our relationship and partnership with our customers through a cogent analysis of their needs and ensuring we provide a range of quality products and services to meet these needs as well have a robust and well trained body of staff at the ready, to meet these needs”.

Mr Baptiste, on his part, said with the unveiling of the Republic Bank Ghana, banking in Ghana would be improved, while businesses would be facilitated locally and in the Caribbean to bridge the South-South gap.

Mr Charles William Zwennes, the Board Chairman, said the Republic Bank brand was globally respected and it was just right for the name to be adopted by HFC, which had been a subsidiary of the Republic Bank for more than three years.

Mr Kwaku Agyeman Kwarteng, the Deputy Finance Minister, commended the Bank for working hard to attract such great investment, leading to the rebranding.

He urged the Republic Bank to come on board Ghana’s One District One Factory Programme and make it a reality.

Mrs Elsie Awardzi commended the Bank for contributing to the development of Ghana in no small way, and expressed the hope that it would continue to operate within the financial culture and setup of the country.