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Ghana: Press focuses on increase in revenue of Unilever Ghana PLC, others

The announcement by Unilever Ghana PLC of an increase in the company's revenue for the 2020 financial year and the…

The announcement by Unilever Ghana PLC of an increase in the company’s revenue for the 2020 financial year and the promise by the Western Regional Coordinating Council to win the fight against illegal mining activities are some of the leading stories in Ghanaian press on Friday.The Daily Guide reports that Edward Effah, Board Chairman of Unilever Ghana PLC, has announced an increase in the company’s revenue for the 2020 financial year.

In the company’s latest financial report, Mr. Effah indicated, “Our results for the year ended 2020 shows a 37 percent increase in revenue from GH¢333 million in 2019 to GH¢456 million in 2020,” indicating that the growth represented sustained momentum throughout the year despite the challenges imposed by the COVID-19 pandemic.

“Our operating loss for the year ended 2020 was GH¢22 million, which is a significant improvement from GH¢206 million for the same period in 2019. This translated into a loss after tax for the year ended 2020 of GH¢50 million against a GH¢160 million loss for the same period in 2019,” he said emphasising that “No dividends will be recommended for shareholders.”

George Owusu-Ansah, Managing Director of Unilever Ghana PLC, in a remark on the cash flow of the company, said there was significant improvement in cash and cash equivalent balance as at end year from a deficit of GH¢53million in 2019 to a deficit of GH¢0.9million in 2020.

“This performance reflects improved working capital management,” he said.

Mr Owusu-Ansah revealed that the emergence of the COVID-19 pandemic in the first quarter of 2020 threw a new challenge at humanity and business.

The newspaper says that Western Regional Coordinating Council (RCC) is determined to win the fight against illegal mining activities also called “galamsey”, particularly in water bodies and the threat they pose to the future of the country.

To this end, the RCC is embarking on an initiative to clean the water bodies within the domain of the region that have been engulfed with wastes from the activities of illegal mining.

The initiative is being done in collaboration with the University of Mines and Technology (UMaT) in Tarkwa with support from some foreign bodies.

UMaT has invented a technology to help purify water bodies polluted through illegal mining activities.

The technology makes it possible to clear particles from the water bodies and make the water bodies clean.

The Western Regional Minister, Kwabena Okyere Darko-Mensah disclosed this to DGN in an exclusive interview at Sekondi.

He indicated that the move has seen some progress with the River Ankobra, adding “Now we can see that the Ankobra River is taking shape. It is getting tidy,” he stressed.

He explained that the RCC is currently doing serious monitoring of the river bodies and gotten the Metropolitan, Municipal and District Assemblies ( MMDCEs) involved since they are with the people down there.

“The traditional leaders in the communities have not been left out in the fight. We are working with them and I believe this time round we will win the fight against the menace”, he assured.

The Times reports that the Finance Minister, Mr. Ken Ofori-Atta, has said that the Ghana Investment Promotion Centre (GIPC) is working assiduously to attract Amazon to Ghana.

The Minister said that the move was to deepen the technological entrepreneurial ecosystem for Ghanaian entrepreneurs.

Addressing the country on the measures being introduced by the government to prop up the economy and create jobs for the youth in line with social media campaign protest  dubbed “FixTheCountry”, Mr. Ofori-Atta said aside Google setting up its regional Artificial Intelligence Centre in Accra, Twitter recently announced to establish its Africa Headquarters in Accra.

He said the decision of such global tech giants to come to Ghana demonstrated the confidence investors had in the Ghanaian economy.

Mr Ofori-Atta said the presence of Amazon in Ghana would help create jobs for the youth and prop up the Ghanaian economy.

He said since assuming office, the government had worked hard to put the economy on a better footing and positioned it to be hub of trade in Africa.

Mr Ofori-Atta indicated that the country won the bid to host the Secretariat of the African Continental Free Trade Area (AfCFTA), positioning Ghana and Ghanaian businesses as the gateway partner and spearhead Ghana as a hub for the Africa region.

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