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Business News of Tuesday, 26 June 2018

Source: Vodafone Ghana

Vodafone assesses its social usefulness

A section of the participants A section of the participants

Vodafone Ghana has today unveiled an independent research report detailing its social and economic contribution to Ghana between 2014 and 2016.

The report, carried out by a local research team led by Dr. Kweku Rockson, was to assess the company’s impact across Ghana, making it the first telecommunications company to undertake a study of this nature in the country. The overall importance of the study was for the company to contribute to a wider assessment of the social usefulness of telecom companies operating in the country.

The report highlights the value and usefulness of Vodafone’s overall operations, both direct and indirect, in several areas including financial contributions, employment, total expenditure against GDP, entertainment and in the more defined areas of corporate social responsibility. As a multi-national company, Vodafone’s remit extends beyond its delivery of telecommunication products and services.

The company has, over the years, emerged as a pillar in the entertainment industry through its major music properties including the acclaimed Vodafone Ghana Music Awards. It has also maintained its status as an enabler of access to healthcare and information, digital education and provision of diverse forms of employment.

Overall, Vodafone contributes about 5.6% to Ghana’s labour force from persons of 15 years and above. As one of the primary employers in the country, Vodafone employs close to 1,117 employees with about 520,000 indirect jobs created through wholesalers, retailers, distributors and suppliers. Its Communication Service Tax (CST) payments, as a percentage of the national CST payments, amounts to 23.02%.

The independent report also identifies ways that Vodafone Ghana can further support the development of Ghana, emphasising unique initiatives that would help advance its leadership in the telecommunications sector.

Yolanda Cuba, Chief Executive of Vodafone Ghana said:

“The industry we are in is central to everyday life and activity. Our customers rely on us to help them make the needed connections and build lasting relationships; to resolve issues of health and education; of agriculture and finance and to access entertainment and lifestyles.

“Our relevance in supporting Ghana’s socio-economic growth has always been clear from the start. However, this report further highlights the value we deliver and challenges us to step up even further as a powerful enabler of growth and development in Ghana.”

Highlights from report:

• Vodafone Ghana provides comprehensive telecommunication solutions to close to 9-million subscribers in Ghana. Since its inception in Ghana in 2008, Vodafone has been the undisputed leader in innovation and creativity – providing such unique products and services such as One Ghana. Ekiki Mi, Vodafone-One, SuperCare; VIM and Vodafone-“X”.

• A total of GHS10.7m was spent on Health and Wellbeing initiatives including 96 surgeries under the Healthline TV event; discharging 1,000 patients under its Homecoming initiative and free medical care to 10,000 beneficiaries under its HealthFest community initiative.

• The company’s expenditure and tax payments at the end of 2016 were major contributory factors to Ghana’s economic growth in the areas of Gross Domestic Product (GDP) and Communication Service Tax (CST):

o Total expenditure as a percentage of GDP – GHS487.6m representing 1.22%.

o Communication Service Tax (CST) payments as a percentage of national CST payments – GHS186m representing 23.02%.

o SSNIT contribution as a percentage of National SSNIT contribution – GHS24.4m representing 0.91%.

• Vodafone plays a crucial role in the Ghanaian economy, contributing about 5.6% to Ghana’s labour force whilst creating 520,000 indirect jobs in the country through its wholesalers, retailers and suppliers.

• As a leading telecommunications company, Vodafone Ghana has become a training ground for professionals within the corporate environment, with many prominent former employees now holding key positions in the corporate sector.

Brief Comments by Yolanda - Media Roundtable - Jun 2018 by GhanaWeb Editorial on Scribd