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I have no agenda against Voltarians – Akufo-Addo

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Running a small business is demanding. Each day presents challenges that can affect your cash flow, your customers, and your ability to grow. Amid these demands, it is easy to lose sight of long-term financial priorities. However, businesses that last are not only those with good products or strong customer service. They are often the ones with better financial habits. This article outlines seven essential points that will help SMEs manage their finances more effectively, reduce risk, and plan for growth. 1. Start with a Clear Financial Plan A good financial plan gives direction to your business. It helps you set targets, allocate resources, and make informed decisions. Start by defining your financial goals. These should be SMART - specific, measurable, actionable, realistic, and tied to timelines. For example, you should determine how much revenue you need each month, what level of production or service delivery is required to meet that target, and how you intend to achieve it. Once your targets are clear, you will need a working budget. A good budget helps you monitor income and expenses, manage cash flow, and ensure that your business remains on track. It also provides a basis for deciding what to prioritise and what to postpone. At its best, your financial plan should help you answer key operational questions such as what resources are required to operate or grow, where those resources will come from, what they will cost, and whether your business is in a position to take them on. Planning in this way reduces uncertainty and allows you to run your business with greater clarity and confidence. 2. Maintain Accurate Financial Records Accurate financial records are essential for any business. Whether you are managing day-to-day operations, planning for future growth, or applying for funding, clear and reliable financial information allows you to make sound decisions. Many small businesses struggle in this area due to time constraints, limited expertise, or a lack of systems. However, proper record-keeping should never be overlooked. It supports internal decision-making, strengthens external credibility, and improves your ability to respond to opportunities or risks. Business owners can start by gaining basic knowledge of accounting principles and tools. Training employees in simple record-keeping practices also helps to build internal capacity. In some cases, it may be worthwhile to engage professionals who can help you put the right systems in place and prepare essential reports at a cost that makes sense for your business. 3. Choose a Banking Partner Aligned with Your Goals The right banking relationship can make a real difference to your business. A bank like Absa Bank is more than a place to keep your funds. It is a partner that can support your operations, guide your financial planning, and help you take advantage of growth opportunities. Begin by understanding your business needs. These might include working capital support, payments and collections services, or trade finance. Once your needs are clear, assess whether your bank offers the right mix of services, accessibility, and expertise. Your banking partner should make it easier to run your business, not harder. They should share your ambition to grow, be responsive to your concerns, and provide solutions that are tailored to the stage your business is in. A strong banking relationship will give you confidence and peace of mind as you build your enterprise. 4. Deploy Effective Payment Solutions Revenue is the foundation of every business and the way you go about collecting it is key. In today’s economy, customers expect fast, simple, and secure payment options. If your business only accepts cash, you may be turning away potential sales without realising it. Providing customers with flexible payment options is no longer a luxury. It is a necessity for growth and long-term relevance in a digital economy. Offer customers alternatives such as instant bank transfers, mobile money, card payments through point-of-sale devices, or more innovative solutions like Absa Mobi Tap to improve your customer experience and increase your reach. These methods reduce delays, enhance transaction security, and demonstrate professionalism. 5. Meet Statutory Obligations Promptly Every business has legal and regulatory responsibilities. These include filing and paying taxes, submitting Social Security and National Insurance Trust contributions, and meeting other sector-specific requirements. Complying with these obligations on time helps you avoid penalties and disruptions. It also builds your business’s reputation and improves your standing with financial institutions and regulators. To stay compliant, you should adopt a legal structure that suits your business model and goals. You may also wish to seek legal or tax advice at key points in your journey. Planning ahead for obligations such as annual tax payments or quarterly filings ensures that you are not caught off guard. Meeting your statutory responsibilities consistently is a mark of a well-run business. 6. Manage Your Risks Running any business involves risk. These risks may include delayed payments from customers, unexpected costs, economic downturns, or even natural disasters. For small businesses operating with limited resources, such events can be difficult to absorb. This is why risk management must be part of your financial routine. Start by identifying the main risks that could affect your business. Put in place basic measures to protect your operations. This could mean setting aside emergency reserves, purchasing insurance, or diversifying your income streams. Being proactive about risk does not eliminate uncertainty, but it helps you stay in control when challenges arise. It also signals to lenders, partners, and customers that your business is prepared and resilient. 7. Separate Business and Personal Finances It may be tempting to treat your business account as your personal wallet, especially in the early stages. However, failing to separate your business and personal finances can lead to confusion, tax problems, and credibility issues. As a business owner, you should pay yourself a fixed salary. Avoid withdrawing funds at random or covering personal expenses with business income. If you invest personal funds in the business, document it properly as a loan or equity contribution. Keeping your finances separate helps you maintain clear records, assess business performance accurately, and present your enterprise in a more professional light to partners, banks, and regulators. At Absa Bank, we believe that strong financial habits form the backbone of every successful enterprise. Our commitment is to walk with our clients and customers at each stage of their journey, providing guidance, tools, and solutions that help SMEs grow sustainably and with purpose.

Financial Habits Every SME Must Adopt: The 7-Point Check List

September 25, 2025
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Full speech: Akufo-Addo’s 15th address to the nation

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I have no agenda against Voltarians – Akufo-Addo

I have no agenda against Voltarians – Akufo-Addo

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President Nana Akufo-Addo on Sunday August 16, 2020 address the nation on the measures taken against the spread of coronavirus in the country.

His 15th televised address came at a time when the country’s active Covid-19 cases has dropped significantly as reported by the Ghana Health Service (GHS).

President Akufo-Addo announced among others date set for the reopening of borders and measures taken to ensure safety to students and teachers in Junior High School (JHS) and tertiary institutions.

Below is the full speech

ADDRESS TO THE NATION BY THE PRESIDENT OF THE REPUBLIC,

NANA ADDO DANKWA AKUFO-ADDO,

ON UPDATES TO GHANA’S ENHANCED RESPONSE TO THE CORONAVIRUS PANDEMIC, ON SUNDAY, 16TH AUGUST, 2020.

Fellow Ghanaians, good evening.

Today is the fifteenth (15th) time, since the virus came to our country some five (5) months ago, thatI have come to provide you with the status of our co-ordinated efforts to defeat COVID-19. I must thank you, again, for welcoming me into your homes, and I must repeat how proud I am to be your President in these difficult times. Iappeal toall of usto continue in our individual and collective efforts to help contain the spread of the virus in our country.

We have been through several phases of the fight against the pandemic, we have put in place restrictions to our everyday lives, indeed, of which some still remain, and we have gradually moved to restoring normalcy in some aspects of our lives. Over the last few weeks, the cap on the number of persons going to church and mosque has been lifted, albeit with strict social distancing; our final year students in university, senior and junior high schoolshave returned to school to write their final examinations; and the Electoral Commission has just completed the successful compilation of a voters’ register ahead of the conduct of the 2020 general elections in December.

On behalf of the people of Ghana, I congratulate warmly the Chairperson of the Electoral Commission, Mrs Jean Mensa, her two Deputies, Dr. Eric Asare Bossman and Mr. Samuel Tettey, and the entire Commission for the efficient,safe, transparent nature of the registration exercise, where, for the first time in our nation’s history, Ghanaians were provided with daily updates of the numbers of eligible voters registered, together with specific age, gender, regional breakdowns, and breakdowns of identity documents. All eligible voters were given the unfettered opportunity to register, a process that was fully embraced by the mass of the citizenry. Of course, there were genuine and understandable concerns about conducting such a complex exercise, involving millions of citizens, at this time. But, at the end of the day, Ghanaians did their civic duty, by going out to register, having found that theprocess was overwhelmingly orderly, peaceful and safe.

However, there were those who expressed various degrees of hysteria and negativity towards the exercise, with some, who swore heaven and earth to resist the compilation of the register at the peril of their lives, ending upregistering. There were also those who offered delicate, personal sacrifices in the event of the register, again, ending up registering. And, there were those who claimed that, in the midst of a pandemic, the registration exercise should not be conducted, with some warning of an “explosion” in our case count and very high numbers of deaths,should the exercise go ahead. By the grace of God, the work of the Electoral Commission, and the effective measures put in place by Government, these prophecies of doom did not materialise. There were, nonetheless,deeply regrettable, isolated incidents of violence, which I condemn unreservedly, and which I expect the Police to deal with without fear or favour, but the exercise was generally peaceful.

The Ghanaian people have, by the conduct of this exercise, demonstrated our commitment, once again, to consolidating our status as a beacon of democracy on the continent and in the world. The professional Jeremiahs and naysayers, who seek, cynically, to make a profitable industry out of spreading falsehoods, fear and panic, stoking divisive, ethnic sentiments,underestimate the resolve and the determination of Ghanaians to build a united, democratic, peaceful, prosperous, and happy Ghana. We will continue to work hard to prove them wrong.

Fellow Ghanaians, when I delivered Update No. 14, some three (3) weeks ago, I indicated that a closer look at the data points to the fact that we are steadily on the path towards limiting and containing the virus, and, ultimately, defeating it, and requested all of us to pay particular attention to the number of active cases.

As at 24th July, the number of active cases, i.e. persons with the virus, stood at three thousand, three hundred and seven (3,307). As at Saturday, 15th August, three weeks later, the number of active cases stands at one thousand, eight hundred and forty-seven (1,847). This is a clear indication that Government policies are working.

Currently, there are no recorded COVID-19 cases in the North East, Savannah, Upper East and Upper West Regions, and I charge their residents to do everything possible to maintain that situation. Greater Accra, Ashanti, Central, Eastern, and Western continue to be the Regions with the highest number of active cases. Thus far, a total of fortythousand, five hundred and sixty-seven (40,567) persons have recovered from the virus. This means our recovery rate has improved from eighty-nine-point five percent (89.5%) to ninety five point onepercent (95.1%) in three weeks. Our death rate continues, mercifully, to be low at zero-point five percent (0.5%). Happily, there are no backlogs of tests at any of our testing centres, meaning that situational reportsareup to date. Indeed, tests results that used to take weeks are now available within forty-eight (48) hours. We have, so far, conducted four hundred and twenty-seven thousand, one hundred and twenty-one (427,121) tests.

These statistics undermine, as unfounded, theclaim that Ghana has lost the battle to defeat COVID-19. There can only be one simple reason for this baseless assertion, and that is political expediency. But, as I have said before, do not begrudge those who make such statements, they need to make them to continue to try to stay relevant.

Our health workers will forever be in our debt, for the dedication they have put in to ensure these impressive statistics. We can help them even further by continuing to adhere to the social distancing and hygiene protocols we have instituted to stem the tide of infections.

I have been encouraged by the results of a recent survey conducted by the Ghana Health Service into the use of face masks at selected locations in Accra in the month of August. It revealed that the overall intention to use face masks at the sites surveyed was very high, with eighty-two percent (82%) of persons surveyed possessing a mask. I believe we can do even more, and reach one hundred percent (100%). However, the same survey demonstrated that only forty-four-point three percent (44.3%) of those who have the mask use them correctly. I urge each and every one of us to wear our masks, and do so correctly anytime we leave our homes. It is the new normal requirement of our daily existence until the virus disappears.

Our phased approach towards returning our lives to normal, through the strategic, controlled, progressive, and safe easing of restrictions, will, thus, continue. Most final year university students have already completed their examinations, and, by 18thSeptember, SHS 3 and JHS 3 students would have finished their respective final examinations of WASSCE and BECE.

As a result of reports I have recently received thatsome final year JHS students were going hungry, in complying with COVID-19 protocols, I have just instructed the Minister for Gender, Children and Social Protection to begin preparations to ensure that, as from 24th August up to 18th September,all five hundred and eighty-four thousand (584,000) final year JHS students,and one hundred and forty-six thousand (146,000) staff, both in public and private schools, be given one hot meal a day.This is to ensure full observance of the COVID-19 safety protocols.

Through online learning portals, almost all continuing students in our Universities have completed their studies for the academic year. The exceptions are the University of Cape Coast, the University of Health and Allied Sciences, Technical Universities, and some other Colleges.After extensive stakeholder consultations, the decision has been taken for continuing students in these tertiary institutions to return to school,on 24th August,tofinish their academic year.

Just as was done for final year students who returned to school, Government, through the Ministry of Education and the Ghana Education Service, will ensure that all these tertiary institutions are disinfected. Universities will be equipped with the necessary personal protective equipment, and those with their own hospitals and clinics will have isolation centres to deal with any positive cases. All other institutions, without their own clinics and hospitals, will be mapped to health facilities. There will be no mass gatherings and no sporting activities. Religious activities, under the new protocols, will be permitted. Social distancing and the wearing of face masks must become the norm on campus.

The Ministry of Education continues to engage the Ghana Education Service (GES) and all relevant stakeholders to conclude discussions on the modalities surrounding the reopening of our pre-tertiary schools. I will communicate, in due course, the decisions that will be reached from these consultations. You can be rest assured that I will always take into prime consideration the safety and wellbeing of our children, teachers and non-teaching staff in the decisions that will be taken, because I am determined to ensure that the education of our children is not unduly disturbed by this pandemic

I know many still ask when our borders, especially our international airport, Kotoka International Airport, will be open. Under my instructions, the Ministry of Aviation, the Ghana Civil Aviation Authority and the Ghana Airports Co. Ltd.,have been working, with the Ministry of Health and its agencies, to ascertain our readiness to reopen our airport. I wantto ensure that we are in a position to test every single passenger that arrives in the country to avoid the spread of the virus.The outcome of that exercise will show us the way, and determine when we can reopen our border by air. I am hoping that, by God’s grace, we will be ready to do so by 1st September.

Until further notice, our borders, by air, land and sea, remain closed to human traffic. For Ghana residents stranded abroad, special dispensation will continue to be given for their evacuation back to Ghana, where they will be subjected to the mandatory quarantine and safety protocols. Beaches, pubs, cinemas and nightclubs are still to remain closed until further notice.

The limit on the numbers of persons who can attend conferences, workshops and award events, has now been lifted, subject to the maintenance of social distancing amongst participants, fresh air ventilation of the premises, anda two-hour limit for each session.

I know that the pandemic has adversely affected many lives and livelihoods. It is for this reason that Government has implemented several measures such as free water and electricity, and funding to support small businesses, and tax reliefs, amongst others, to cushion the effect of the pandemic. We are not providing freebies, we are providing critical help to households, families and businesses, in the midst of this pandemic, because we care. It is myconviction that, in times of crises, it is the duty of a responsible and sensitive Government to protect the population, and provide relief.

Fellow Ghanaians, let us remember at all times that this phased opening up of our country continues to put an obligation and responsibility on each one of us to remain vigilant, and respect the enhanced hygiene, mask wearing and social distancing protocols that have become part and parcel of our daily routine.They are proving to be effective, so let us employ them wholeheartedly. That is the way we can restore, as quickly as possible, the blessings of normalcy for which we all yearn. There is no room for complacency, we must be very much on our guard, because some countries have experienced spikes after recording major achievements in containing the spread of the virus. We should not go down that road. Social distancing, enhanced hygiene and wearing of masks are obligatory for each one of us.

Anuanom, mesrɛmo, nhyihyɛ aa yayɛɛfa masks noho, mondiso. Sɛwofriefiye aa, hyɛ mask. ɛnoenaɛbɛbɔyɛhu ban, ama yetumiapamyareɛefriyeman mu.

Anyɛmimɛi, minkpanyɛfai, gbejianɔniwɔtokɛha masksɛɛ, nyɛyeanɔ. No ni baa wawɔ,niwɔnyɛwɔshwiehelanɛɛkɛjɛwɔ man nɛɛ mli.Gamɛiniyɛn ye Homowo, minhanyɛfɛɛafiooafi.

Fellow Ghanaians, the remarkable nature of us, the Ghanaian people, the first colonisedpeople in sub-Saharan Africa to gain their freedom and independence from foreign rule, is manifesting itself again. In the midst of the pandemic, we have been able to compile a voters’ register, arguably, the most credible voter register in our history;our democratic institutions continue to function effectively; there continues to be vigorous public debate on issues of public policy; respect for the rule of law continues to be central to our governance; our economy, despite the severe shocks of the pandemic, is proving to be resilient, and is poised for rapid recovery; our agriculture is performing so that, despite the disruptions of the pandemic, food is still abundant in our markets; and the virus itself is being fought systematically. Indeed, a stronger, healthier Ghana is being built before our very eyes, and the great majority of Ghanaians can see it. Let us continue down this path, so that thedreams of freedom and prosperity that inspired the great patriots, who founded our nation, can find expression in our generation.

We can do it, so let us continue to work hard towards attaining our goal.

This too shall pass! For the Battle is the Lord’s!!

May God bless us all, and our homeland Ghana, and make her great and strong.

I thank you for your attention.

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