JANUARY 25

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Inside JANUARY 24, 2019.qxp_Layout 1 1/24/19 4:45 PM Page 7 23TH JANUARY, 2019 WEDNESDAY CURRENCY PARIS CODE BUYING SELLING US Dollar USDGHS 4.7871 4.7919 RATES Pound Sterling GBPGHS 6.1380 6.1461 Euro GBPGHS 5.4483 5.4530 10 DAILY HERITAGE FRIDAY, JANUARY 25, 2019 WWW.DAILYHERITAGE.COM.GH Diageo Plc appoints Opoku-Asare as Head of Society, Africa DIAGEO PLC has appointed Mr Gabriel Opoku-Asare, as Head of Society (Sustainability and Responsibility) – Africa Region. His appointment takes effect from February 1, 2019. In his new role, Mr Opoku-Asare will lead Diageo’s Sustainability and Responsibility strategy across the beverage giants’ 13 priority markets, comprising four business units which are Africa Emerging Markets, East Africa, Southern Africa and Nigeria. He will also be leading the agenda to shape the future of the business and accountable for driving and leading programmes and campaigns which focus on Water, Skills, Environment and Local Raw Materials. Additionally, he will be accountable for regional supra national engagement with opinion leaders at institutions such as AFFRO, Africa Union, UNI- TAR and UNDP. Previously, he was the Corporate Relations Director at Guinness Ghana Breweries Plc (GGBPLC), a subsidiary of Diageo Plc, where as a member of the executive management team, he strategically positioned the company’s communications and sustainability agenda to be recognized among its peers as a leading, trusted and respected consumer brands company in Ghana. Under his leadership the GGBPLC • Gabriel Opoku-Asare, Head of Society (Sustainability and Responsibility), Africa Region brand was recognised on various awards platforms including the Corporate Social Responsibility (CSR) Company of the Year, CSR Manufacturing Company of the Year, among others at the Ghana CSR Excellence Awards, Best Practices in Sustainable Manufacturing at the AGI Ghana Industry Awards, Recently, he was adjudged CSR Practitioner of the year at the 2018 Ghana CSR Excellence Awards for his strategic leadership and relentless efforts to drive and execute the company’s sustainability agenda. Before joining GGBPLC, he was the Head of Corporate Affairs at Unilever Ghana, a member of Unilever Ghana Leadership Team and a member of Unilever Africa Region Sustainable Business and Communications Leadership Team. Gabriel holds a BSc in Land Economy from Kwame Nkrumah University of Science and Technology, a Graduate Certificate in Public Relations from Ghana Institute of Management and Public Administration, Masters in International Relations from University of Leicester and Executive Education Certificate in Shared Value Strategy from Harvard Business School. The International Campaigns Director for Diageo Africa, Damon Ansell said, “We are very pleased to have Gabriel join the Africa team. We believe his knowledge and experience in Stakeholder engagement, Public Policy and Sustainable Development will be invaluable to Diageo’s Africa ambition as we continue to shape the future of the business in Diageo’s developing markets.” Gavin Pike, Managing Director, GGBPLC commenting on his appointment said Gabriel’s has been a key member of the Ghana Executive team, who over the last few years has contributed immensely to support the business’ commercial and sustainability agenda “We can only wish him well on the impressive career trajectory, as his appointment once again underscores Diageo’s growth plan for employees across its markets and also reinforces Diageo as a great place to work”, he added. Heroes of Change Season 5 nomination ends today MTN GHANA Foundation submission of nominations for MTN Heroes of Change Season 5 ends today. The extension of the closing date is to enable the public nominate more individuals or groups who are making a difference in their communities through social work. Each nominee stands the chance of winning the ultimate prize. The ultimate winner will receive a cash prize of GH¢ 100, 000.00 to expand their projects whilst the category winners would be awarded with GH¢ 30, 000.00 each to be invested in their project. The rest of the six heroes will each be given GH¢10, 000.00 to support their projects. Commenting on the MTN Heroes of Change Season 5, Mr Samuel Koranteng, Corporate Services Executive, said “We are extending the date because we continue to receive requests from individuals and communities to do so. We want the public to nominate more people for MTN Heroes of Change Season 5. We want to honour individuals who are brightening lives in communities through their charity projects and we want to showcase their contribution to the general public.” He explained that after the close of submission, all projects received will be reviewed and shortlisted and be pruned to 100 and thereafter to 40 and finally to 10. He added that a team will then be dispatched into the communities to authenticate the stories of nominees. The stories of the top 10 finalists will be filmed and featured in a 13-week television series after which a grand finale event will be held to announce the ultimate winner and the winners of the various categories. The final selection of winners of the MTN Heroes of Change is done by an independent panel of judges with diverse experience and expertise. MTN Heroes of Change Season 5 was launched in November 2018. Since the inception of MTN Heroes of Change in July 2013, a total of 40 people have been identified and recognised on MTN Heroes of Change platform for committing their personal resources to improve their communities and brighten lives. Four out of the total number emerged ultimate winners. They are Dr Abrokwa- Yenkyera, a plastic surgeon and founder of Grafts Foundation, Madam Paulina Opei, founder of the Save Our Lives Orphanage, Genevieve Basigha and Naomi Esi Amoah of Blessed Home Orphanage. MultiChoice Group Ltd ready to be listed on JSE MULTICHOICE GROUP Limited (MCG) has released its pre-listing statement in compliance with the Johannesburg Stock Exchange. Trading in MCG shares is expected to commence on the JSE on Wednesday, February 27, 2019. As announced on September 17, 2018, MCG will include, amongst others, MultiChoice Africa, MultiChoice South Africa (MCSA), Showmax, as well as the global digital platform security provider, Irdeto and all their subsidiaries and affiliates “the Group.” Calvo Mawela, Group Chief Executive Officer of MCG, said “We believe the listing of MultiChoice provides an excellent opportunity to invest in the leading provider of video entertainment on the African continent. MCG brings an incomparable local and international content offering to around 14-million households and is one of the fastest growing pay-TV broadcast providers globally. With strong financials, the flexibility of an ungeared balance sheet and deep local knowledge, we hope to deliver excellent returns to shareholders over time.” The MCG management team is focused on the growth opportunity across Africa, a market of significant TV consumption by global standards. Pay-TV and Connected Video remain under-penetrated on the continent compared to many other markets in the world and MCG intends to pursue both these avenues of growth. Bob van Dijk, Naspers CEO, said “MultiChoice Group is a pioneer in video entertainment across Africa and we are extremely proud to have built this company into a major success from the time when it was founded over 30 years ago. The strength of the company’s leadership team, alongside its compelling content, worldclass technological capabilities and attrac- •Calvo Mawela, Group Chief Executive Officer of MCG tive financial profile means that it is very well positioned for future growth in an evolving sector on the African continent.” Content as a key driver of growth MCG plays an important role in making information and entertainment content easily accessible to its customers in Africa. In countries where celebrating culture is an important driver of consumption, MCG creates and showcases unparalleled local content. Access to international content from eight of the top ten US studios, including movie and children’s content, is another key pillar in the Group’s offering and growth plan. The Group is also the continent’s largest funder of sport, providing leading sports offerings and holding major international as well as local sports rights. With extensive production capabilities for local sports events, the Group is an important partner for many sports federations thus making a major contribution to sports development. World-class technology and infrastructure MCG provides consumers with highly advanced, best-in-class technology. Irdeto, a digital platform security provider, is integral in providing cutting-edge security solutions, a key aspect of any pay-TV business. Irdeto also provides security and software services to numerous blue-chip clients globally and, as such, is also a standalone revenue and cash flow generator. The Group’s development agenda and investments have brought social and economic benefits to the communities across the continent. MCG employs more than 9 000 people across Africa and indirectly creates economic prosperity for more than 20 000 people who are employed by partners and suppliers.
Inside JANUARY 24, 2019.qxp_Layout 1 1/24/19 4:45 PM Page 8 WWW.DAILYHERITAGE.COM.GH DAILY HERITAGE FRIDAY, JANUARY 25, 2019 11 Politics Do not mind anything that anyone tells you about anyone else. Judge everyone and everything for yourself —Henry James Ghana, Hungary join forces to boost water management MINISTER FOR Foreign Affairs and Regional Integration, Shirley Ayorkor Botchwey, (MP), on behalf of the Republic of Ghana, has signed a Memorandum of Understanding (MOU) with Hungary on cooperation in the field of water management with a commitment to work toward establishing a framework for a swift and seamless co-operation between the parties on the basis of equality, reciprocity and mutual benefits. The signing ceremony took place on Tuesday, January 22, 2019, in Brussels, Belgium, on the sidelines of the just-ended first annual European Union (EU) – African Union (AU) Ministerial Meeting. Hungary’s Minister for Foreign Affairs and Trade, Péter Szijjártó, signing on behalf of his country, pledged his support to the agreement, in accordance with the national laws and regulations in force in the two countries. Madam Ayorkor Botchwey also met with her counterparts from Malta and Portugal to explore possibilities of further deepening of bilateral relations between Ghana and the two countries. The EU-AU ministerial meeting, the first annual inter – summit forum, was an opportunity to take stock of the implementation of the outcome of the 5th AU – EU •Shirley Ayorkor Botchwey Foreign Affairs Minister interacting with the Hungarian delegation Summit •Prof. •SIbrahim in Abidjan Musah, in November Director Newman 2017, marking of Policy a Planning milestone and in reshaping Programme the partnership for National into an Kwadwo even Kusi stronger, Reuse and mutually Recyclers beneficial one, better adapted Association to a rapidly evolving global context. The meeting brought together Foreign Ministers of the European Union and their counterparts from over fifty States across the African Region including Ghana, Togo, Liberia, Senegal and Niger. Participants deliberated on peace, security and governance, trade, investment and economic integration as well as multilateralism, which, they say, is the best recipe for deepening cooperation. To solidify this agreement, the meeting, among others, adopted a communiqué in which members confirmed their common determination to build on partnerships and move towards an even stronger, deeper and more political partnership and friendship between both Europe and Africa. The meeting was co-chaired by High Representative for Foreign Affairs and Security Policy, Federica Mogherini, and Minister of Foreign Affairs and International Cooperation of Rwanda, Richard Sezibera. Ghana Revenue Authority Integrity. Fairness. Service. DOMESTIC TAX REVENUE DIVISION AMENDMENTS TO THE INCOME TAX ACT, 2015 (ACT 896) ADAG 074 The Ghana Revenue Authority wishes to inform the general public that following the passage of the Income Tax (Amendment) (No. 2) Act, 2018 (Act 979), the following amendments have been made to the Income Tax Act, 2015 (Act 896). 1. The Income Tax (Amendment) (No. 2) Act, 2018 (Act 979) has provided for new rates applicable to Resident Individuals. The new rates are: a. ANNUAL INCOME ANNUAL INCOME TAX RATES APPLICABLE TO RESIDENT INDIVIDUALS CHARGEABLE INCOME #OurTaxesOurFuture RATE TAX CUMULATIVE CHARGEABLE INCOME CUMULATIVE TAX % First 3,456 Nil - 3,456 - Next 1,200 5 60 4,656 60 Next 1,680 10 168 6,336 228 Next 36,000 17.5 6,300 42,336 6,528 Next 197,664 25 49,416 240,000 55,944 Exceeding 240,000 30 b. MONTHLY INCOME MONTHLY INCOME TAX RATES APPLICABLE TO RESIDENT INDIVIDUALS CHARGEABLE INCOME RATE TAX CUMULATIVE CHARGEABLE INCOME CUMULATIVE TAX % First 288 Nil - 288 - Next 100 5 5 388 5 Next 140 10 14 528 19 Next 3,000 17.5 525 3,528 544 Next 16,472 25 4,118 20,000 4,662 Exceeding 20,000 30 The schedules above are the annual and monthly Personal Income Tax Rates applicable to Resident Individuals. These are the rates that should be used to compute the tax for self-employed persons and Pay As You Earn (PAYE) for salaried workers / employees. 2. Sub section 10 of section 116 of Act 896 provides for the taxation of supply of goods, works or services by non-residents. The tax rates for the supply of goods, works or services by non-residents is twenty percent Act 896. st January, 2019. The general public particularly the self-employed, employers, employees, accountants, auditors, paymasters and tax consultants must take note and comply. COMMISSIONER-GENERAL www.gra.gov.gh
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JANUARY 25

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