Day: November 29, 2023

The GIMPA Business School in collaboration with the Ghana Institute of Procurement and Supply (GIPS) has organised a Moot Procurement to deliver hands-on procurement experience to students in the School.

The event aimed at immersing students in real-world procurement scenarios provided a platform for showcasing problem-solving skills and innovative procurement strategies.

Focused on promoting healthy competition, facilitating networking opportunities, and inspiring career exploration in the procurement and supply chain sector, the Moot Procurement event addressed various procurement challenges.

Teams were tasked with analysing and proposing solutions for diverse procurement issues, including strategic sourcing, contract management, supplier selection, and negotiation.

The simulated environment closely mirrored actual procurement processes, presenting students with case studies and requiring them to formulate effective strategies, present proposals, and defend decisions before industry experts.

Professor
Ebenezer Adaku, the Acting Dean of GIMPA Business School, emphasised the significance of such hands-on experiences in grooming future procurement leaders.

He said the GIMPA Business School was a practice-based School, distinguishing itself from other Business Schools in Ghana.

Prof. Adaku said the initiative did not only aim at providing practical training but also offered opportunities for mentorship for students in the School.

‘We, here, at GIMPA Business School, aspire to be recognised as a practice-based business school, differentiating ourselves from other institutions in Ghana,’ he added.

He said industry professionals involved in the initiative would serve as mentors, guiding students to become proficient procurement managers.

Mr. Simon Annan, the President of GIPS, commended GIMPA for the initiative and expressed hope that other institutions would follow suit.

He explained that the collaboration aimed to bring procurement closer to students, shaping their perceptions and attitudes towards the pr
ofession and industry.

Mr. Abraham Ablorh Mensah, a facilitator and a Director at the Public Procurement Authority, said the training would address challenges within the procurement industry.

The participating students praised the organisers for the initiative, recognising the value of the training in preparing them for successful careers in procurement.

Source: Ghana News Agency

Access Bank Ghana Plc has demonstrated its resilience and commitment to financial excellence by delivering impressive financial results in the third quarter of 2023.

A statement issued by Access Bank Ghana, copied to the Ghana News Agency said the Bank had reported significant growth across key financial metrics, solidifying its position as a leading financial institution in Ghana in the face of prevailing economic uncertainties.

It said the Bank posted a remarkable surge in profit after tax, recording a 47.13 per cent year on year increase in quarter three, from GHS310 million to GHS456 million recorded at the same period in 2022.

It noted that this underscores the Bank’s resilience and ability to weather economic storms.

Speaking on the financial performance, Mr Olumide Olatunji, Managing Director of Access Bank Ghana, revealed that shareholders have witnessed a substantial increase in value, with earnings per share soaring by 113.01 per cent, rising from GHS1.23 to GHS2.62 in the period under review.

‘
This growth reflects the Bank’s commitment to delivering superior value and returns to shareholders and customers.

‘Our Bank’s commitment to national development is evident in our taxpayment for the period.

‘Our tax to government increased by 47.13 per cent from GHS167 million to GHS245 million at the end of the third quarter of 2023.

‘The Bank continues to play a crucial role in supporting the public purse, highlighting its dedication to the broader economic landscape,’ Mr Olumide said.

On the Bank’s operating income, Mr Olumide noted that there was a significant growth of GHS1 billion representing a 47.33 per cent increase attributing the overall performance to a growth in fees, commission, and other trading income.

Also commenting on the Bank’s performance, Madam Akosua Aboagye, Chief Finance Officer of the Bank, expressed satisfaction with the Bank’s performance.

She also emphasised the Bank’s dedication to contributing positively to Ghana’s economic growth.

‘This performance reflects our commitmen
t to the growth of the Ghanaian economy and our interest in bringing value to our shareholders. Our aim as always, is to provide financial solutions to every Ghanaian.

‘It also reflects our commitment to bringing value to shareholders.

‘We remain poised to exceed expectations, foster sustainable development, and elevate our impact on both the financial industry and the communities we serve,’ Madam Aboagye said.

The statement said Access Bank remains committed to ensuring that shareholders, customers, and staff enjoy a more-than-banking experience.

The Bank presently operates through more than 700 branches and service outlets in 20 countries, including the UAE, UK, and France, and three representative offices in China, India, and Lebanon.

Source: Ghana News Agency