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UG @75: Sporting activities launched as part of celebrations

UG @75: Sporting activities launched as part of celebrations

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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.

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Home Sports

UG @75: Sporting activities launched as part of celebrations

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UG @75: Sporting activities launched as part of celebrations
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As part of its 75th anniversary celebrations, University of Ghana, Legon, on Wednesday, February 15, 2023, held an opening ceremony to officially kick off its sporting activities.

The celebration, which is under the theme “Nurturing Resilience: Adopting Technology, Embracing Humanism,” aims at encouraging the development of sports in Ghana through quality education and promoting physical fitness, mental health, and sportsmanship amongst the university community.

Held at the volleyball court of the university, there were some exhibition games for new sports disciplines introduced by the Sports Directorate as part of this year’s anniversary. The games included pickleball, teeball, and goalball.

In attendance to witness the ceremony were renowned alumni and dignitaries, with the likes of the Pro Vice-Chancellor of UG, Prof. Gordon Awandare, Dr. Bella Bello Bitugu, the Director of Sports Directorate, Augustine Arhinful, an ex-Black Stars player, Eva Okyere, – veteran broadcaster and legal brain, and some members of the planning committee for the 75th anniversary, including Prof. Akosua Adomako Ampofo and Prof. Clement K.I. Appah, Chair and Co-Chair, among a host of other notable names, were also in attendance.

Prof. Gordon Awandare, the Pro Vice Chancellor of the University of Ghana, recommended the efforts of the school’s sports directorate to nurture talents and contribute significantly to the development of sports in Ghana. “We are very proud of how the Sports Directorate has diligently put together programs and training activities for the success of our athletes,” he said.

“We feel very fulfilled that the sports directorate has been placed at the heart of Ghana’s premier university’s 75th anniversary,” Dr. Bella Bello Bitugu said, emphasizing the importance of embedding sports discipline.

“In 2022, several of our athletes were integrated into the Ghana national team to represent the country in various sporting disciplines. We have looked at nurturing raw talents over the years that have gone on to win medals in Ghana’s colors. Talk of Mr. Arhinful, who has joined us today; talk of Azamati and the likes. “We need to continually indicate that quality education can exist through sports,” he added.

On his part, Eva Okeyere noted that sports activities help to build camaraderie amongst colleagues, and can foster a sense of community amongst students and staff. She challenged students to exude resilience and actively participate in the various sports disciplines, as she described it as a rare opportunity.

Augustine Arhinful, a former Black Stars player and alumnus of the University of Ghana, commended and encouraged the university to continue to invest in sports. He also advocated for increased publicity in the university’s sports to assist students in transitioning to professional levels.

As part of the opening ceremony of the UG @75 sporting activities, some sporting equipment was donated to the Sports Directorate while there was a pickleball demonstration. This is among the new games being introduced to the university community.
The sports activities are set to continue throughout the week, with several tailored events throughout the year geared to celebrate the school’s 75th anniversary.

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