Zonk News

The company has been recognized as the leading African communication telco on the recently revealed Forbes World’s Best Employers list for 2021.

As part of the survey, employees from across 58 countries were asked to rate multinational employers on aspects such as image, economic footprint, talent development, gender equality, and social responsibility, the complete list features 750 companies.

This year’s ranking represents a significant improvement in various areas for MTN. Overall, we’ve improved from position 419 last year, to 132 in 2021. We have also moved up nine places in the global telco industry rankings to the second spot.

“This acknowledgment comes at a time when our sector is at the forefront of the changes that are happening in the world. In a year when we launched our new ambition 2025 strategy and EVP, Live Inspired, we are excited that this acknowledgment, as with many others we’ve received, will inspire people around our ambitions,” says Ralph Mupita, MTN Group Present, and CEO.

“We are humbled to receive this influential global recognition by Forbes, as people have found it difficult to be physically together, we had to step up as an industry to connect them with each other, connect companies with their people and customers, and of course, enable the delivery of new and essential services to communities.

“To achieve this, we’ve relied on our people, their skills, innovation, and can-do spirit that continues to shine bright alongside our brand,” says Paul Norman, Group Chief Human Resouce Officer.

He continued, “Through our Live inspired EVP, we aim to provide our employees with future skills, create a diverse and inclusive workplace and contribute to a sustainable environment.”

According to Fitch solution’s 4^th Quarter 2021 country report, a sustained fiscal deficit albeit a moderately narrowing one will see the country’s debt stock continue to rise over the coming years. However, as a proportion of Gross Domestic Product, it should stabilize this year, and then gradually reduce in the long term.

“We are confident that Ghana will see somewhat narrower fiscal deficits and slower in public borrowing in the medium to long term. This will bring the debt –burden down somewhat a style percentage of GDP relative to early 2020.

“While a large debt load in itself is not a direct threat to financial stability, we do not rule out the debt load causing some problems over the long term due to the interest payments the debt entails,” it further said.

Fitch solutions said the budget deficit will narrow in 2022, albeit to a still wide 7.6% of GDP.

“We expect that as economic conditions normalize further in 2022, revenue will continue to recover and rise to 15.9% of GDP. Expenditure growth will moderate in line with the government’s medium-term fiscal consolidation objectives and consequently, we forecast total spending falling as a proportion of GDP to 23.5%.”

It is said expenditure will remain elevated in the coming months, and rise from 24.7% of GDP in 2020 to 25.6% in 2021.

Public sector salaries and benefits will remain the largest non-interest expenditure item, followed by grants to other government units.

The government expects the public sector wage to rise by 7.2% to 30.3billion in 2021.

However, Fitch solutions anticipate that growing political pressure for larger pays in cares as evidenced by threats in late July of nationwide strike action by university staff or pay demands, to result in higher than expected expenditure.

The budget also includes funding for the second phase of the government’s Ghana CARE ‘Obaatan Pa’ coronavirus support and recovery scheme, which includes funding to develop public healthcare capacity, procure vaccines, and provide support for local communities and businesses.

The company’s remade board of directors is debating whether to continue with major oil and gas projects, including an ongoing gas development project in Mozambique.

Exxon Mobil’s board of directors has expressed concerns about some of the company’s proposed projects, including a $30 billion liquefied natural gas development in Mozambique and another multi-billion gas dollar gas project in Vietnam.

While economies recover from the pandemic, oil and gas prices are multiyear highs and fossil fuels are in short supply. However, such energy megaprojects are costly and it often takes years for their investment to pay off.

In light of increased investor pressure to restrain fossil-fuel investment to limit carbon emissions and return more cash to shareholders, Exxon’s board members are weighing projects. The company is also under pressure from environmental and government officials to produce less oil and gas.

Discussions are taking place in connection with a review of the oil company’s five-year spending planning, on which the board will vote by the end of this month.

It’s unclear whether the board will make a final decision on the Mozambique or Vietnam projects during this review.