Journalists schooled on best practices for financial reporting

Journalists for Business Advocacy (JBA), a media advocacy group for small and medium scale enterprises in the country, has organized a two-day workshop to enhance the capacity of journalists who report on finance and issues on the economy, in Kumasi.

The workshop, which is the fourth in the series of training programmes organized by JBA this year, and the first in Kumasi, aimed at exposing financial journalists to the evolving trends and dynamics in financial and economic reporting ‘to achieve effective impact on the local economy.’

General Manager of Ghana News Agency (GNA), Dr. Bernard Otabil, who was a key resource person and also chaired the programme, admonished journalists, particularly those who report on the financial sector, to regularly seek knowledge in order to keep in touch with new development within the financial market.

He entreated practitioners to strive to remain outstanding among their peers with their accurate and factual reportage, either on the finances of the country or any other sector or issue the reports cover.

Similarly, the Area Manager of Ecobank Ghana, Zone 8, Mr. Eugene-Amo-Mesi, on behalf of his Managing Director lauded efforts by JBA to contribute to the economic development of the country through its advocacy activities.

He was particularly appreciative with the focus of JBA on the SME sector which he quoted a report by United Nations Industrial Development Organization (UNIDO) which cites SMEs to be accounting for more than 90 percent of registered businesses in Africa.

As Ecobank celebrates its 25^th anniversary in the country this year as the largest bank in profit, total assets, loans and others, he reiterated the Bank’s commitment to support the activities and programmes of JBA.

The programme was done with support from the Bank of Ghana (BoG), Ecobank Ghana Limited and the Ministry of Finance and Economic Planning. It was organized under the theme “improving knowledge base for effective finance reporting.”

Participants were drawn from the northern sector of the country, notably; Ashanti, Brong Ahafo, Nothern, Upper East and the Upper West regions. They were treated to a number of topics including basic macroeconomic analysis, relationship macroeconomic accounts, the financial market, analyzing financial reports among others.

Dr. Johnson P. Asiamah, Bank of Ghana, and Dr. Christian Ahortor, Chief Economist, WAMI, were part of the key resources persons who led the programme.  

Toyota Ghana's PICU beds donation to KATH, in Kumasi

“Explore non-traditional ways to reach out to customers"

As the country’s economic situation worsens relentlessly, leading to the collapse of a number of businesses and industries across the country, manufactures and business operators have been urged to identify ingenuous means to reach customers.

The General Manager of Multimedia Group in Kumasi, Mr. Jim Aglah., who gave this advice at the ‘3^rd Luv Fm Trade and Technology Discount Fair,’ at the Golden Tulip in Kumasi, said "In a distressing period of energy crisis which has had a devastating effect on so many businesses, it is important that for businesses to explore non-traditional ways of reaching out to the equally frustrated customers."

He noted that this would likely boost business sales while also keeping many others afloat.

He explained that the Fair, a creation of the Multimedia Group in Kumasi, which seeks to bring businesses together on one platform to offer customers discounted prices for the goods and services the offer, is done considering how critical it is for entrepreneurs to sustain their business.

He said the Luv Fm ‘Trade and Technology Discount Fair’ was born out of a desire to create a one-stop destination for manufacturers, distributors, retailers as well as service providers to showcase their products and services.

“It gives the consumer the avenue for choice among a wide variety of good quality products under one roof,” he stated.

Mr. Aglah also highly optimistic that the platform provided would create an environment where the various exhibitors could make appreciable on the spot sales to the satisfaction and delight of buyers and again taking opportunity to establish business links.

The Ashanti and Brong Ahafo Regional Chair of the Association of Ghana Industries (AGI), Mr. Robert Nketsiah, said it was important for businesses to make use of such platforms particularly at a time the country is going through challenging moments.

He said the AGI has always campaigned for the patronage of made in Ghana products and therefore entreated patrons at the Fair to trust in the quality of Ghanaian made products and increase their patronage.

He advised business owners to avail themselves to the business training sessions and also take advantage of the variety of opportunities that comes along with the Fair.

The Luv Fm Trade and Technology Discount Fair, which is gradually becoming a yearly culture for the business community in Kumasi, was a four-day packed event which included a seminar, funfair for kids, and trade exhibition among other entertaining sessions.