TIG Post

Tag: Survey

  • 48% of companies listed on GSE not complying with ESG reporting requirements – Survey

    48% of companies listed on GSE not complying with ESG reporting requirements – Survey

    Half of the companies listed on the Ghana Stock Exchange (GSE) are not sharing information about their environmental and social impact, even though there is a strong push for businesses to be more open about this.

    This is according to a recent survey by audit firm, KPMG on sustainability reporting in Ghana titled “ESG Reporting in Ghana: Are Listed Companies Meeting Expectations?”

    The Ghana Stock Exchange (GSE) lists a variety of companies across several sectors which includes, Access Bank Ghana, AngloGold Ashanti, Ecobank Ghana, MTN Ghana, Guinness Ghana Breweries Republic Bank GhanaFan MilkUnilever GhanaSociete Generale GhanaGCB Bank among others.

    It revealed that among the companies reporting on environmental, social, and governance (ESG) matters, 52% share sustainability information.

    Most of these (75%) use reports from their parent companies, while only 25% create independent reports.

    Some industries, like beverages, telecom, and oil and gas, fully follow ESG requirements.

    However, mining and food production are lagging, with 67% and 33% failing to comply, respectively.

    The study also found that only 45% of companies involve their boards in sustainability issues, and less than half follow global standards like GRI or SASB.

    Around 45% of companies include goals to reduce carbon emissions in their reports, showing some attention to climate change. But only 39% view biodiversity loss as a threat to their business.

    To improve, the report suggests stricter rules, rewards for compliance, better training, focused efforts on important issues, stronger leadership, and engaging stakeholders.

  • E-Levy: Only 40% of respondents will conduct electronic transfers when necessary Survey

    A study by Global Info Analytics has said about 40 percent of Ghanaians sampled in a survey have indicated they will only conduct electronic money transactions when necessary.

    The development comes after the firm sought to inquire about how Ghanaians are responding to the approval of the controversial Electronic Transfer Levy which is set to take off from May 1, 2022.

    An earlier study conducted by the Ghanaian-based polling firm showed that some 73 percent of Ghanaians sampled were against the passage of the levy.

    But the latest findings by Global Info Analytics published on April 20, 2022 showed that the approval of the E-Levy will have no effect on 9 percent of the respondents sampled.

    The study also showed that 18 percent of the 5,182 respondents sampled for the survey have said they will find an alternative the avoid the tax policy while 26 percent of respondents said they will be withdrawing their funds from their respective mobile money wallets.

    In addition to the sampled respondents, some 7 percent said they do not use Mobile Money services on their mobile phones.

    Watch the latest episode of BizTech below:

    BizTech: Experts speak on financial principles of life, generational wealth creation

    BizTech: Saving money and creating generational wealth through financial literacy. Many people do not know how to save their monies, and for those who save, they leave the money to sit in their accounts without investing them to accrue some interests. This is because they either have no or little knowledge about financial literacy. Now, how do we become financially literate? What should we look out for before investing in a project? On this Friday’s edition of BizTech, our host, Ernestina Serwaa Asante sits with two financial experts; Michael Adjei and Des Amey to give us an insight on this topic. They’ll also teach us how to create generational wealth and the need to have multiple streams of income.

    Source: www.ghanaweb.com

  • Only 26% of goods sold in top supermarkets are Made in Ghana Survey Report

    A research conducted by Konfidants, an international business advisory firm, has stated that only 26 per cent of goods sold in Ghanaian supermarkets are made in Ghana.

    These results were reached after the research firm surveyed nine of the leading supermarkets and two fuel stations in Accra on 19 product categories.

    According to Konfidants, the result is an improvement as compared to the 2019 survey when only 18% of goods surveyed were Ghanaian products.

    However, despite a huge growth in the number of multinational supermarkets in the last decade in the country, the invasion is yet to be translated into an avenue to make money for local manufacturers.

    Meanwhile, the leading supermarkets include; two popular fuel station marts in Accra include Shoprite (Accra Mall), Game (Accra Mall), Palace Supermarket (Palace Mall), Koala (Osu), Maxmart (37), City Dia (La), Melcom (North Kaneshie) and Marina Mall Supermarket (Airport), China Mall (Spintex), Baatsonaa Total (Baatsonaa), Airport Shell (Airport).

    The survey

    In all, a total number of 7,983 brands (from the 19 product categories) were counted across all 11 retail outlets included in the survey. The survey was conducted in December 2020. Out of this number, 5,943 (74%) were foreign brands, with only 2,040 (26%) being made-in-Ghana brands.

    Despite the increase in the number of made-in-Ghana goods sold across the selected supermarkets, the best performing category of made-in-Ghana goods is water (with 60% of all water on sale produced in Ghana), followed by eggs (with 55% MIG), fruits and vegetables (52% MIG) and spreads (44.74%)

    The worst-performing categories are biscuits and confectionaries (6% MIG), noodles and pasta (6%) and utensils and cutlery (7% MIG).

    Food products (fresh, processed and manufactured) dominated the 19 categories in which goods are visible in the supermarkets

    “As was the case in 2019, food products (fresh, processed and manufactured) dominate the 19 categories in which MIG goods are visible in the supermarkets. Fourteen (14) of the 19 categories are food products. Consequently, all the best 5 performing categories are food-related,” the report stated.

    The research that more can be done despite the performance of the dominant food product categories.

    “The research also revealed some disturbing trends in the following products: Only 2% of jams and marmalades on the shelves are Made-In-Ghana, which is worrying given that 58% of Fresh Fruits on the shelves are Made-In-Ghana. (This is one area where there is a clear need and opportunity to add value locally). Over 62% of all rice, salt (65%), fresh meat (66%), fresh poultry (70%) and even chocolate (65%) brands on the shelves were foreign as well. Given these products have very strong production possibilities on the local market, this is quite worrying,” it stated.

    Recommendations

    Efforts must be made by policymakers and key stakeholders to review the shelf presence of made-in-Ghana goods, to ensure these efforts are holistic, dealing with the very roots of the problem and ensuring that any results attained are not just at face value but are deeply impactful and sustainable.

    It also noted that the overall competitiveness of made in Ghana products (and manufacturers) need to be improved. Local small producers will need support to make their products more competitive in quality, standards certifications, branding, pricing and financing. Innovative financing options by financial institutions and the supermarkets could provide accounts receivable financing solutions that can assist small suppliers to comfortably adjust to the long payment periods of the supermarkets.

    It further called on the Ministry of Trade and Industry and its agencies such as the Ghana Enterprises Agency (Formerly NBSSI), National Entrepreneurship Innovation Program (NEIP), Standards Authority to collaborate with the FDA and other stakeholders such as industry associations to come up with a holistic policy and program framework to improve shelf space of made in Ghana goods.

    Source: www.ghanaweb.com

  • Facemask wearing inches up from 42 to 47 per cent in Accra – GHS Survey

    The proportion of people wearing facemasks correctly in 43 communities in the Greater Accra Region has increased from 42 to 47 per cent.

    Persons who do not wear facemask at all have declined from 36 to 29 per cent.

    In the latest survey conducted by the Ghana Health Service (GHS) on January 29, 2021, regarding adherence to facemask wearing in Accra, revealed that Ayawaso West District registered the highest proportion of people wearing facemask correctly with 60.3 per cent.

    The Ablekuma Central District, on the other hand, registered the highest proportion of people not wearing facemask correctly with 36.9 per cent.

    Dr Patrick Kuma-Aboagye, the Director-General of the GHS, announced this at a COVID-19 Media Update in Accra on Tuesday.

    The study revealed that facemask wearing was better adhered to, in the morning (52%) but declined to 41 per cent in the late afternoon.

    Fifty-four (54%) of children wore facemask correctly in the morning but dropped to 29.5 per cent in the late afternoon, whilst 51.1 per cent of adults wore facemask correctly in the morning and dropped to 43.7 per cent in the afternoon.

    The research identified top three communities in Accra that wore facemask correctly as University of Ghana, near the Police Station (84.9%), University of Ghana entrance, near Okponglo (83.1%) and 37 Military Hospital Bus Station (80.8%).

    The top three communities that did not wear facemask correctly are Nima Market (67.4%), Glife Lorry Station(66.9%) and Asofan Last Stop Bus Station (62.4%).

    Meanwhile, a survey conducted in 38 churches in Accra between February 6th and 7th this year, revealed that 90 per cent of church members wore facemask correctly, six per cent did not wear facemask correctly and four per cent do not wear facemasks at all.

    Ninety-eight (98%) of members of the large churches wore facemask correctly, whilst 73 per cent of members in small churches wore facemask correctly.

    Eighty-three (83) per cent of Elders and Pastors wore a facemask, four per cent of the churches allowed handshaking.

    Forty-seven (47) per cent of the churches went beyond the two-hour duration allocated for service, whilst 53 per cent complied with the duration.

    The study revealed that less than 50 per cent of churches were not sanitizing their microphones and instruments, which were shared by many people during church services.

    The research further revealed that facemask wearing was significantly low among choristers/singing group- (63%).

    Source: GNA

  • Coronavirus: Survey suggests business confidence at record low

    Business confidence in many areas of the economy is at a record low, a new survey has indicated.

    The Scottish Chambers of Commerce (SCC) survey suggests retail and construction have been among the worst hit sectors during the Covid-19 crisis.

    But 95% of tourism firms also reported a fall in business confidence.

    The SCC said the UK and Scottish governments need to accelerate investment plans in order to prevent a “tsunami of jobs” being lost.

    The survey, conducted between April and June, found cash flow has sunk to a record low in many industries, with a high number of companies applying for credit to see themselves through lockdown.

    Tim Allan, president of the SCC, said: “In many instances, these results are among the worst over the 30-year history of the survey.

    “It is critical that governments in Holyrood and Westminster continue to provide business support for companies during and beyond the easing of lockdown restrictions.

    “A sudden end to these vital financial support measures would not be welcome by anyone and a tsunami of jobs would disappear overnight.”

    Mr Allan warned local economies “may be lost forever if action is not taken now”.

    The quarterly SCC survey covered 525 firms operating in Scotland and it shows a 70% decrease in confidence in the construction sector.

    Elsewhere, around half of manufacturing firms in the survey reported falls in orders and sales revenue trends in retail “have massively fallen”.

    Prof Graeme Roy, director at the University of Strathclyde’s Fraser of Allander Institute, said that the latest survey painted a sombre picture of the scale of the challenge now facing the Scottish economy.

    He added: “What is particularly worrying is the employment outlook. The survey shows a clear warning of what is to come, with a sharp rise in unemployment now inevitable as businesses adjust to a new normal.

    “The immediate priority for many businesses is survival.”

    ‘Swept into poverty’

    Meanwhile, Citizens Advice Scotland (CAS) has warned the response to the coronavirus crisis will be “vital for defining the next decade”.

    The charity has reported a surge in the number of people seeking advice on redundancy.

    CAS social justice spokeswoman Mhoraig Green said: “This is a stark increase in demand for advice around redundancy, it’s clear that the economic impact of Covid-19 is being felt now.

    “We need an approach that protects jobs and creates new ones, as well as strengthening the social security safety net to prevent people being swept into poverty by an economic storm.”

    Source: bbc.com