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Inveteck Global Crowned Top Cybersecurity Leader in Africa

by admin | Mar 24, 2025 | commerce, cybersecurity, internet security, investing, technology companies

By Stanley Senya

On March 24, Accra – The Ghana News Agency reported that Inveteck Global, a locally owned Ghanaian company specializing in cybersecurity training and services, was awarded the distinguished title of ‘Top Cybersecurity Firm in Africa’ during the recently concluded Africa’s Most Promising Small and Medium Enterprises (SME) Conference and Awards ceremony.

This accolade underscores Inveteck Global’s commitment to ensuring cybersecurity is both attainable and efficient for enterprises and people throughout Africa.

Throughout the years, the firm has put in significant effort to safeguard businesses against cyber threats via specialized training, cutting-edge solutions, and practical cybersecurity programs.

Its dedication to anticipating new challenges has established Invetek Global as a reliable frontrunner in the industry.

The Africa’s Most Promising Small and Medium Enterprises Conference & Awards stands as a prestigious event that honors remarkable companies significantly impacting different sectors throughout the continent.

Inveteck Global’s recognition as the Premier Cybersecurity Firm in Africa underscores its crucial part in bolstering cybersecurity measures within vital industries such as finance, government, and business entities.

Mr. Promise Gidisu, co-founder of Inveteck Global’s United States division, reiterated the firm’s commitment to enhancing Africa’s cybersecurity strength.

“Receiving this accolade underscores the dedication and enthusiasm of our team. Operating across Ghana, Liberia, and the USA allows us to provide premier cybersecurity services and empower professionals to tackle cyber threats effectively,” he stated.

He mentioned that their achievement was due to the committed team, reliable partners, and faithful clients who supported their vision to safeguard Africa’s digital future.

Mr. Blay Abu Safian, CEO, stated, “This honor serves as more than just an acknowledgment; it challenges us to elevate our efforts further. With our sixth anniversary occurring this year, it strengthens our commitment to continuous innovation and establishing superior benchmarks in the field of cybersecurity.”

He mentioned that Inveteck Global had built its reputation through providing premier cybersecurity solutions such as vulnerability assessments, penetration tests, managed services, red team simulations, cybersecurity consulting, threat intelligence, security audits, and tailored training programs.

Through its top-tier courses, the firm has educated many experts, empowering them to confidently address complex cybersecurity challenges.

Mr. Blay stated that securing the Leading Cybersecurity Company in Africa award reinforces Inveteck Global’s status as a pioneer in the field of cybersecurity.

The firm stays dedicated to broadening its presence throughout Africa, building alliances, and introducing services tailored to the distinctive needs of companies, educational bodies, and governmental organizations.

With cyber threats becoming more sophisticated, Inveteck Global is ready to guide Africa towards a secure digital era, safeguarding against emerging risks via education, innovation, and forward-thinking protection strategies.

GNA

GRB

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Revamp Ghana’s Natural Resource Contracts for Maximum Benefits — IEA

by admin | Mar 24, 2025 | africa, business, energy sector, government, politics

By Francis Ntow

Accra, March 24, GNA – The Institute of Economic Affairs (IEA) has urged the government to promptly reassess all agreements related to Ghana’s natural resources with the aim of maximizing the nation’s benefits from their extraction.

She stated that the evaluation must ensure the nation achieves a minimum return of 60 percent from its natural assets, valued at more than 10 trillion, to aid in the country’s economic shift and reduce its debt load.

Former Chief Justice and IEA Fellow, Justice Sophia Akuffo, addressed this topic during a press conference in Accra on Monday, focusing on “Optimizing the Benefits from Ghana’s Natural Resources.”

She expressed worries about the exploitation of Ghana’s natural resources over several years, due to concession leases that granted sole control to international companies. These entities retained an unfairly large share of the goods and paid minimal sums as royalties and taxes.

The natural resources encompass gold, diamonds, bauxite, iron ore, petroleum, natural gas, cocoa, and timber.

She requested the government to take cues from the United Kingdom (UK), Australia, Qatar, Tanzania, Botswana, Angola, and Eritrea, who examined their mining legislation and agreements to secure up to 50 percent for their national interests.

For instance, in Angola, the Petroleum Income Tax operates under a Production Sharing Agreement with a tax rate of 50% for taxable income. However, operations conducted through different contractual arrangements like consortium agreements face a higher tax rate of 65.75%, according to Justice Akuffo.

The ex-Chief Justice mentioned the UK as an example, where they had a separate corporate tax rate of 30 percent, an additional charge of 10 percent, and a levy of 38 percent on the extraction and production of oil and natural gas.

Likewise, according to Article 41 of Eritrea’s Mining Law Proclamation, the government was permitted to hold an equity stake of up to 40 percent in total, which includes a mandatory participatory interest of 10 percent in any mining venture.

“The moment has arrived for Ghana to terminate its Guggisberg-style agreements that favor international corporations and instead embrace contemporary optimal methods, ensuring that a greater portion of the resource revenue benefits the nation rather than solely foreign mining enterprises,” she stated.

She requested the establishment of a five-person panel consisting of seasoned Ghanaian individuals to examine and suggest revisions to every law and contract related to natural resources. This was aimed at maximizing the advantages these resources could bring to the nation.

The former Chief Justice suggested that Ghana should fully embrace domestically-owned production lines or, at minimum, establish joint ventures between Ghanaians and foreigners in the natural resources sector, which would involve cost-sharing and profit distribution.

Dr. John Kwakye, the Director of Research at IEA, remarked, “Although our nation boasts abundant wealth beneath the soil, it appears impoverished above ground.” He further stated that leaders have not sufficiently leveraged the country’s natural resources to foster national progress.

“More than 10 trillion dollars worth of natural resources could potentially be harnessed if appropriate systems are in place… If you’re unprepared, keep them underground until the necessary expertise and funding become available,” he stated.

Should it require street protests to prompt the government into favoring Ghanaian interests in natural resource agreements, the IAE will be at the forefront.

Dr. Kwabena Nyarko Otoo, the Deputy Secretary General of the Trades Union Congress (TUC), has called upon the government to boldly reassess all laws and agreements to ensure they benefit the nation.

He committed TUC to ongoing collaboration with the IEA and other partners in developing policies aimed at ensuring appropriate changes in foreign ownership and control of Ghana’s natural resources.

GNA

ABD

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Canada Challenges China at WTO Over Agriculture and Fish Import Tariffs

by admin | Mar 24, 2025 | agriculture, business, commerce, international trade, news

Tariffs place a 100 per cent surcharge on rapeseed oil, peas and oil cakes for animal feed. Aquatic products will face a 25 per cent levy

Canada has initiated a complaint against China at the World Trade Organization (WTO) regarding extra tariffs imposed on agricultural and fisheries goods, according to an announcement from the organization on Monday.

The agency stated, “Canada has sought WTO dispute consultations with China regarding the latter’s actions that have imposed extra import tariffs on specific agricultural and fishery goods coming from Canada.”

The duties announced at the beginning of this month affect rapeseed oil, oil cakes — which serve as an animal feed — and peas coming into the country.
Canada
with a 100 percent surcharge.

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Canada ranks as one of the leading global suppliers of canola, which is a type of rapeseed utilized for producing cooking oil, animal feed, and biodiesel fuel.
China
Has traditionally been among its biggest clients.

In the meantime, aquatic products and pork will be subject to a 25 percent tariff.

Leaders from Canada’s industries have stated that they would suffer significantly due to the recent tariffs. These were implemented following an inquiry initiated by Beijing regarding the duties that Ottawa placed on Chinese products in the previous year.

The tariffs follow growing trade tensions between the United States and both Canada and China, following new duties introduced by U.S. President
Donald Trump
.

In August, Ottawa imposed 100 percent tariffs on China.
electric vehicle
imports, matching
US
initiatives aimed at preventing a surge of government-supported vehicles from China into the North American market.

Additionally, they imposed an extra fee on imported Chinese steel and aluminum goods.

Beijing’s commerce ministry said an investigation into these measures found that Canadian policies “disrupted the normal trade order and harmed the legitimate rights and interests of Chinese enterprises”.

Following the submission of grievances to the
WTO
, discussions are started among the members who are in conflict with one another.

In the absence of an agreement, the complainant may seek the formation of a special committee comprising three to five specialists.

Lok Sabha Debates Finance Bill as Opposition Slams Government Over GST Rates

by admin | Mar 24, 2025 | economic policy, economics, politics, politics and government, politics and law

New Delhi [India], March 24 (ANI):
Lok Sabha
On Monday, discussions resumed regarding the Finance Bill, 2025, during which opposition members accused the government of offering “piecemeal fixes” and having an “incomplete Goods and Services Tax (GST)” system.
BJP
Members praising the government’s economic achievements, stating that the nation’s GDP has increased over two-fold within the past decade.

Initiating the discussion,
Congress
MP
Shashi Tharoor
indicated that the government’s handling of economic matters is fraught with long-standing structural issues.

He criticized the Finance Minister casually.
Nirmala Sitharaman
“. Examining this year’s Finance Bill… I believe she has adjusted her stance somewhat. Now, she is informing taxpayers, ‘Since I couldn’t fix the roof, consider this an umbrella for protection.’ ThisFinanceBill exemplifies piecemeal approaches during a period when the country requires clear vision, unwavering resolve, and strong leadership. The administration’s handling ofeconomicmanagementis grappling with deeply entrenchedstructuralchallenges. Growth forecasts have been reduced, double-digit expansion seems out of reach, and aspirations for sustainingahealthygrowthrateare diminishing,” he stated.

“Increased participation in agriculture among our populace is at an all-time high, whereas manufacturing has decreased to about 15 percent of the GDP. Individuals earning five or six times the average income are also finding it challenging to sustain their lifestyle. Thus, achieving ‘Developed India’ by 2047 is a commendable aim over the next 25 years; however, how will this finance bill help us reach that goal?” Tharoor questioned.

He stated that it has taken the government many years to understand that merely two percent of Indians, those who diligently pay their taxes, have been bearing the weight of this nation on their shoulders.

Salaried individuals from the middle class are currently shouldering a greater burden compared to corporations, as their contributions increased significantly without corresponding actions being taken. This fiscal year has seen an uptick in corporate taxes by approximately eight percent; however, individual and non-corporate taxes have surged by twenty-one percent. Finally, after this extended period, the administration has decided to offer certain tax relief measures for these salaried members of the middle class. Essentially, it is ordinary citizens who bear much of the governmental funding load—through various indirect levies like the Goods and Services Tax (GST). Our taxation framework not only features extraordinarily high rates but also holds the unenviable title of having one of the most intricate systems globally. It’s worth noting that despite seventy-seven nations implementing GST, many apply just one or two rate brackets.

BJP
MP
Nishikant Dubey
mentioned that the Union Budget advantages the average citizen.

“Led by the Prime Minister, the nation’s economy has grown over twofold in the past decade, and the
Congress
Has no link to the country’s economic situation. The budget that aids ordinary citizens and workers has only been introduced during the Modi administration,” Dubey stated.

The tax-to-GDP ratio has reached an all-time peak.
Congress
, which exonerated those implicated in the corruption related to the Bofors scandal, is now calling for a tax accounting.
Congress
“which levied taxes as high as 94 percent on the citizens of this nation, has never benefited the average person,” he claimed.

“The Modi government has reduced taxes on imported generic medicines and lowered import duties on machines used in fish farming and handloom industries,” he added.

Trinamool
Congress
MP
Mahua Moitra
charged the government with incompetence.

Albert Einstein once remarked that the most challenging aspect of life is comprehending income tax. Likewise, we struggle to grasp how this administration’s tax policies continue to exacerbate the significant gap between two versions of India. There is one version for the affluent and well-connected, akin to Kuber’s realm, and an entirely different reality for ordinary citizens—a situation they attribute to poor economic management under this government—much like Vishwakarma’s experience among the common people,” stated Moitra.

She noted that as per data from the Finance Ministry, around eight crore individuals submit tax returns annually, with merely 56 lakh earning above 15 lakhs each year.

In December 2024, responding to a parliamentary query, the Finance Ministry stated that there are 8 crores of taxpayers within this nation. However, among them, merely 56 lakhs earn over 15 lakhs annually. This group of 56 lakhs drives India’s entrepreneurship and service sectors; they alone contribute significantly through direct income tax payments. Under the revised system, anyone earning up to 12.5 lakhs yearly will not owe any tax. It must be noted that taxation remains feasible for just these 56 lakhs from an overall populace of 140 crores. Despite this, our country maintains a substantial Income Tax Department endowed with unusually expansive investigative capabilities akin to policing powers along with unrestricted discretionary authority, all supposedly justified as part of their enforcement role,” he remarked.
TMC
MP said.

“At least 5.6 million individuals benefit from a tiered taxation system; however, the remaining population of India, referred to as Vishwakarma India, does not receive such benefits. For these 1.39 billion inhabitants within Vishwakarma’s India, Goods and Services Tax (GST) acts as an equalizer yet in a highly regressive manner. During fiscal year 2023-24, the Indian government gathered approximately ₹20 trillion through GST, amounting to roughly ₹15,000 per individual. Consequently, whether one is a billionaire or earns wages on a daily basis, they all incur GST when purchasing necessities like food, transportation, and basic goods. No measures have been implemented to lessen this financial strain. Moreover, discussions around decreasing duties on essentials remain absent along with plans aimed at ensuring equitable wealth allocation,” she concluded.

The discussion will carry on into tomorrow. (ANI)

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Huawei Pledges €30 Million Investment to Boost Morocco’s Automotive Sector

by admin | Mar 24, 2025 | automotive industry, business, manufacturing, morocco, technology

Huawei Technologies Co., Ltd., the prominent Chinese technology company, has declared its entry into the automotive sector with plans to invest in Morocco together with another Chinese firm, Wan’an Technology, as reported by Chinese media outlets.

This partnership aims at manufacturing and distributing automobile components, backed by an investment totaling €30 million, to establish a production facility in Morocco. It represents a significant move toward enhancing China’s presence in the automotive industry within this kingdom.

Huawei, recognized for its work in IT infrastructure and smart devices, plans to contribute 19.5 million euros (approximately 65% of the shares). In comparison, Wan’an Technology will provide an investment of 10.5 million euros (roughly 35%).

Wan’an focuses on producing and developing automotive braking systems and boasts a significant legacy within China’s automobile sector. The company possesses an auto manufacturing facility and entirely owns approximately eight firms, as well as having stakes in thirteen additional subsidiaries and partnerships.

The objective of this initiative is to enhance the competitive edge of Chinese automotive components producers in the North African and European marketplaces.

The same source highlighted that Huawei’s investment is integral to its plan for enhancing its worldwide footprint and boosting the competitive edge of its overseas activities.

Following the imposition of tariffs by the European Union on imported Moroccan aluminum alloy wheels, this development has occurred. The EU’s action is linked to financial assistance provided by China to one of Morocco’s export-producing companies as part of the Belt and Road Initiative.

The European Commission stated that it had been demonstrated that these imports, which were unfairly subsidized, damaged the European industry producing the same goods.

Nader Rong, a Chinese economist and reporter, stated that “the continuous trade conflict between China and the U.S., coupled with numerous tariffs placed on Chinese goods being shipped to Europe and America, has positioned Morocco as a key hub for various Chinese firms, particularly from the automobile industry, aiming to distribute their items within the Moroccan market.”

He thinks that “Morocco has turned into a center for Chinese automotive investments because of the reciprocal advantages it offers both nations.”

Rong stated that “Products made in China do not face Western tariffs in Morocco, making it an attractive destination for investment from the People’s Republic of China in this industry.”

He highlighted that “Morocco’s extensive expertise in automobile manufacturing, particularly with electric vehicles, along with its abundant reserves of raw materials like metals needed for batteries, makes it a compelling location for investments.”

The Moroccan economist Mehdi Fakir points out that Huawei, similar to other Chinese firms, shifted nearer to their targeted market regions with the aim of decreasing both manufacturing and transportation expenses.

Although tax and customs considerations might have played a role in choosing to invest in Morocco over Europe, the country’s enhanced infrastructure, more favorable business environment, and reduced production expenses—particularly in terms of labor and energy—were significant advantages.

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Huawei plans to invest €30 million in Morocco’s automobile sector.
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