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Business News of Tuesday, 11 September 2018


SSNIT cleans ghost names from scheme

Social Security and Pensions Trust (SSNIT) says it is committed to saving the country an additional GH?12 million from cleaning ghost names from the pensions scheme before the end of the year.

In an exclusive interview with JoyBusiness at the Ghana Procurement and Supply Chain Awards, Director-General of SSNIT, Dr John Ofori-Tenkorang, said there’s the need to reduce the cost incurred on the scheme.

“It’s an ongoing process we are saving about GH?2.9 million Ghana cedis as am speaking to you every month so by the end of the year this number would have gone up; another maybe 12 million and then we would close our book and say next year that will be our baseline where we would be taking off from,” he said.

The SSNIT boss added, “It is an exercise that for me, I think is very important because the scheme has matured and the benefit-cost is really going up so we need to get a handle on it so any waste needs to be curtailed.”

8000 ghost names deleted

The Social Security and National Trust (SSNIT) had, as of August this year, saved a little above GH¢18 million following the deletion of more than 8000 ghost names.

This was as a result of some measures introduced by the trust in February 2018 to delete ghost names from the pension payroll.

Procurement and supply chain awards

The awards ceremony saw Dr Ofori-Tenkorang emerge Procurement Transformation CEO of the Year while his outfit was recognized as Best Procurement Process improvement initiative of the year.

In her keynote address, Minister of State in-charge of Public Procurement, Sarah Adwoa Sarfo, said her outfit has set up a Professional Ethics and Standards Committee to develop some policy guidelines for procurement practitioners such that both public and private procurement practitioners would be measured to determine the level of their performance in their various fields of play.

She said, “These standards would be the basis for benchmarking the performance of all procurement practitioners in this country.”

MTN Ghana was the talk of the event sweeping multiple awards like Supplier Development Company of the year, most innovative use of technology in procurement and supply chain, among others.

Local Gold Mining firm, Goldfields, won a number of awards like the Excellence in Procurement and Supply Chain for the year.

Meanwhile, President Akufo-Addo and the Minister of State in Charge of Public Procurement, Sarah Adwoa Safo were both honoured as Outstanding Change Leadership Award and the prestigious Sustainable Procurement Transformation Award respectively.

Some other winners were Unilever as Excellence in procurement and supply chain of the year (consumer goods), Zenith bank as excellence in procurement and supply chain of the year (banking), Kosmos Energy as Excellence in Procurement and Supply Chain of the year (Oil and Gas), VRA as Innovative use of technology in procurement and supply chain (Public sector), among others.

Instinct Wave was the organizer of the Ghana Procurement and Supply Chain Awards 2018. Chief Executive of the company, Akin Naphtal says good procurement practice is the lifeline for every organization.

The Maiden Edition of the Ghana Procurement and Supply Chain Awards 2018 was on the theme, “Promoting Procurement Excellence in Ghana.”