Entrepreneurs are advised to separate personal and business finances and utilize digital tools for better cash flow management.
MTN Ghana has called on entrepreneurs to strengthen financial discipline and improve money management for sustainable business growth. The advice came during a webinar organized as part of the company's 30th anniversary, focusing on "Making Money Moves: Building a Financially Smart and Sustainable Business." Speakers emphasized the importance of separating personal and business funds to gain clear visibility into revenue, profit, and available capital.
Experts also recommended using digital tools to track sales, payments, and invoices, noting that these platforms can aid remote monitoring of multi-branch operations and maintain verifiable transaction records. Enterprise Resource Planning systems were suggested for managing customer data and inventory, with one speaker pointing out that poor inventory management, not just limited capital, can hinder business success.
The webinar also cautioned against mistaking revenue for profit, warning that businesses can collapse if owners spend heavily upon increased sales without first confirming profitability. Building wealth was described as a marathon, not a sprint, and attendees were encouraged to start investing with small amounts, even as low as GH¢50, to combat inflation's erosion of idle cash.
Why it mattersSmall and medium-sized enterprises in Ghana are affected by advice on financial discipline, cash flow management, and investment strategies.
Read in ASJ →An explosion at a military barracks in Viacha, Bolivia, has killed at least two people and injured 81 others, with fears the death toll may rise.
An explosion involving pyrotechnic material at a military barracks in Viacha, Bolivia, has resulted in at least two fatalities and 81 injuries, according to Bolivian Defence Minister Ernesto Justiniano. The blast occurred around 14:30 local time on Friday at the barracks, which houses an artillery regiment. Fourteen individuals remain unaccounted for, and health officials estimate between ten and fifteen deaths. Dozens of nearby homes sustained damage, and emergency services are conducting searches.
Colonel Antonio Amaru, the base commander, stated on Saturday that a sergeant and thirteen conscripted soldiers, aged between eighteen and nineteen, are among the missing. President Rodrigo Paz has conveyed his condolences and promised a thorough, technical, and transparent investigation into the incident. Police spokesman Roger Roca indicated that fireworks were stored at the barracks, and the precise cause of the detonation is still under investigation.
Viacha authorities have declared three days of mourning following the incident. Rita Nebraska, a health official, advised the public to maintain a distance of at least 150 meters from the military base due to the risk of further explosions. The barracks are located approximately 30 kilometers from La Paz.
Why it mattersTwo people are confirmed dead and 81 injured following an explosion at a military barracks in Bolivia.
Read in ASJ →The Ministry of Food and Agriculture recognized the foundational work of the late Ibrahim Adam, the first minister under Ghana's Fourth Republic.
The Ministry of Food and Agriculture has mourned the passing of Ibrahim Adam, the first Minister of Agriculture during Ghana's Fourth Republic. A delegation, led by Nathaniel Adams Jnr., visited the family home to offer condolences and support the funeral arrangements. The ministry donated a bull, bags of maize, Made-in-Ghana rice, and an undisclosed sum of money.
Nathaniel Adams Jnr., speaking for the Minister of Food and Agriculture, described the late Alhaji Adam as the architect of the modern ministry, crediting him with establishing essential structures. Adams Jnr. specifically highlighted Adam's legacy in strengthening agricultural extension services by providing motorbikes to officers across the country.
The current administration is building on this pioneering work, Adams Jnr. stated, noting the recruitment of over 500 personnel into the Agric Brigade, equipped with resources to further extend agricultural services. The late minister died on August 30th, with his final Aduwa scheduled for Sunday.
Why it mattersFarmers are affected by the recognition of past agricultural reforms and the continuation of extension services by the current administration.
Read in ASJ →The "MV Esther Ocloo" is now operationally ready for deployment after a ten-day training program to protect offshore oil and gas assets.
The Ghana Maritime Authority's (GMA) oil-spill response vessel, "MV Esther Ocloo," has completed a ten-day work-up program, making it ready for deployment. The training, conducted by the Ghana Navy and GMA at the Sekondi Naval Base, aimed to ensure the vessel's operational readiness since its acquisition in 2023. The vessel is now crewed with Ghana Navy personnel and GMA officers for enhanced efficiency.
Director-General of the GMA, Dr. Ali Kamal-Deen, stated that the "MV Esther Ocloo" will now actively protect Ghana's maritime environment and offshore oil and gas installations. Previously docked, the vessel is now available for deployment to fulfill the GMA's regulatory mandates and responsibilities. The training signifies a shift from the vessel sitting idle to actively contributing to maritime security.
Commodore Stephen Billins Nyam, Flag Officer Commanding the Western Naval Command, highlighted the training's significance in assessing the vessel's capabilities and personnel preparedness. This collaboration between the Ghana Navy and GMA enhances maritime security and coordination at sea. The 40-meter "MV Esther Ocloo" is a strategic asset for oil-spill detection, recovery, surveillance, and environmental protection.
Why it mattersThe "MV Esther Ocloo" is now ready to protect Ghana's offshore oil and gas installations, ensuring the safety and sustainability of the maritime sector.
Read in ASJ →Government aims to bridge the digital divide by enhancing connectivity in underserved areas with faster mobile technology.
Ghanaian authorities plan to upgrade all Rural Telephony Project (RTP) sites nationwide to at least 4G technology. Communications Minister Samuel Nartey George stated this initiative is crucial for closing the country's digital connectivity gap and improving access to modern telecommunications services in remote communities. He noted that current 2G and 3G networks are insufficient for contemporary digital demands, especially as global standards move towards 5G and 6G.
The upgrade is part of a comprehensive review of the RTP, which will be presented to the Cabinet. Minister George emphasized that telecommunications infrastructure is now considered a vital component of national development, on par with investments in roads, schools, and hospitals. He made these remarks after inspecting several RTP and other telecommunications facilities in the Eastern Region, including sites at Dumpong, Nkumkrom, Nsakye, and Obosono, as well as an ongoing cell site construction at the Koforidua lorry terminal.
This year, approximately GH¢30 million has been allocated to rural telephony projects through the GIFEC budget. The government is also actively working to expand network infrastructure and enhance connectivity in peri-urban areas and other underserved communities. The minister indicated that the move to 4G is a minimum requirement given the global technological progression. This upgrade is intended to ensure that all citizens can benefit from advancing digital services.
Why it mattersFarmers in rural areas will gain better access to digital services and information, potentially improving agricultural practices and market access.
Read in ASJ →