| Africatime
Wednesday 29 March 2017
(Ghana Web 03/08/17)
The Vice President, Dr. Mahamudu Bawumia has stated that the focus of the Nana Akufo-Addo government is to limit aid and dependency in the budget. According to him, depending on foreign donors will not accelerate Ghana’s development agenda since such most of the aid programmes do not meet the development agenda of African countries. Speaking at the African Diaspora Homecoming Conference organized by the Heritage and Cultural Society of Africa, Dr. Bawumia stated that the New Patriotic Party government aims at building a self sustaining economy by weaning the country off aid. “We must make sure we combine our resources, our energies to make sure that Africa develop economically and self dependent. We want to move beyond aid and dependency,...
(Ghana Web 03/08/17)
The fake drug market, worth over 400 billion euros, is more profitable than the sale of illicit drugs. The World Health Organization Report estimated that each year, over 800,000 people, most of them from Ghana and other parts of Africa, die because of fake drugs as they are less expensive and more accessible than the original ones. Substances like rat poison and anti-freeze have been found in fake pills and serums because they mimic the look and the taste of the real products. Ghana has been ranked the sixth producer of fake drugs by the European Union in 2013. Fake drugs can be made anywhere, though, Wilfrid Rogé, the director of the Paris-based Research Institute Against Counterfeit Drugs (Iracm), says...
(Ghana Web 03/08/17)
Chair of the Electoral Commission, Charlotte Osei says she is not perturbed by comments suggesting that she may have traded sex for the position she currently holds. Speaking for the first time on the issue since she was appointed boss of the electoral commission by former president John Mahama, she said the comments don’t bother her. “My sense of self should not come from somebody who does not know me. If the person thinks I got my job through sexual favours, surely, there are other more rewarding and less difficult jobs I could use that sexual favours for. “And in any case, this is man who is sleeping with other women, so why didn’t he give the job to those...
(AFP (eng) 03/08/17)
Lawyers and human rights campaigners launched an initiative for African whistleblowers in Senegal on Tuesday, aimed at providing a secure means of exposing wrongdoing on the continent. African nations such as Somalia, South Sudan, Libya and Guinea-Bissau regularly appear at the very bottom of rankings such as Transparency International's Corruption Index, while none make it into the top 30. The Platform for the Protection of Whistleblowers in Africa (PPLAAF) will provide guidance from legal experts, secure submission of information and a hotline for potential informants, according to its founders. The initiative is the brainchild of Spanish superstar lawyer Baltasar Garzon -- who has defended Julian Assange of whistleblowing website WikiLeaks -- along with French lawyer William Bourdon, who worked on...
(Reuters (Eng) 03/07/17)
Ghana's President Nana Akufo-Addo said on Monday the country had run out of excuses for failing to end poverty and corruption, 60 years after it became the first in sub-Saharan Africa to win independence from colonial rule. Akufo-Addo said Ghana must not sacrifice its environment as it pursues development, in an anniversary speech delivered in the capital where Kwame Nkrumah became the country's founding president after Britain departed. Akufo-Addo beat his predecessor John Mahama in December and his advisors say he must implement his election promises quickly to retain the support of voters who have ejected the government of the day three times since 2000.
(The Citizen 03/07/17)
Black Africa’s first independent nation celebrated its 60th independence anniversary this week. A pioneer in many ways, Ghana was the first country in sub Saharan Africa to secure independence from Britain on March 6, 1957. The Conversation Ghana’s post-independence experience is also in many ways the African post-colonial story. President Kwame Nkrumah was a founding member of the Organisation of African Unity, the precursor to the African Union. He was also the most influential voice in the Pan-African movement in the early years of independence. The Pan-Africanist flame burnt brightest at the height of agitation for independence, drawing in the likes of Kenneth Kaunda of Zambia, Jomo Kenyatta of Kenya, Hastings Kamuzu Banda of Malawi and Julius Nyerere of Tanzania...
(Xinhuanet 03/06/17)
Ghanaian president Nana Akufo-Addo on Sunday commissioned the presidential museum of Ghana, a legacy project to commemorate Ghana's 60th independence anniversary. The Castle celebrates the achievements and the lives of the presidents, who spent their time working in it. "The vision is to have a state-of-the-art museum, which will house presidential artifacts, presidential papers, waxworks of our presidents, and also have on display personal possessions like books, artworks and items of clothing to allow us to honor appropriately their memories," Akufo-Addo said. One interesting exhibit at the museum will be the room the British Queen, Elizabeth II, slept in during her State Visit to Ghana in 1960. There will also be bookshops, research rooms, gardens and sculptures and artworks rendered...
(Xinhuanet 03/06/17)
Ghanaian President Nana Addo Dankwa Akufo-Addo on Sunday presented awards to 60 students who distinguished themselves in last year's Basic Education Certificate Examination (BECE) for junior high school students. This award was instituted in 1993 to commemorate the celebration of Ghana's birth. Every year, two graduates from the BECE are selected from each of the 10 regions for the awards. However 60 students were awarded this year to commemorate Ghana's 60th independence birthday. Among the criteria for selection include academic criteria, participation in co-curricular activities, exemplary conducts and other special qualities of excellence. President Akufo-Addo said "to be a stronger and more innovative nation, Ghana must do all it can to keep the dreamers dreaming". He said Ghana is at...
(Ghana Web 03/06/17)
Government has indicated that it will add a total of 1,227MW of installed power capacity to the national grid to meet the growing demand for electricity. This would be outside of the 880MW total installed generation capacity facilitated by the previous administration last year, Ken Ofori-Atta, Minister of Finance, announced. He disclosed this while delivering the maiden Budget Statement and Economic Policy of the New Patriotic Party (NPP) government on Thursday in Parliament. Mr Ofori-Atta said the projects to be carried out included the 370MW AKSA project, 107MW GPGC project, 350MW CenPower Project and 400MW Early Power Project, among others. “ECG and NEDCO will continue with system upgrade projects to improve the quality of power supply to customers. “Furthermore, steps...
(Ghana Web 03/06/17)
The Institute of Energy Security (IES) is predicting a further increase in fuel prices in the first pricing window of March due to the constant depreciation of the cedi. The IES says the depreciation of the cedi is already threatening the stability of fuel prices. The Institute also believes the cedi played a part in the increment of the second pricing window for February. In that month, prices of fuel across various fuel pumps went up again in the second pricing window. The increases were between 3.7% and 4.9%. Speaking to Citi Business News, Principal Research Analyst at IES, Richmond Rockson said the government must take urgent steps to deal with the cedi’s woes. “The last indicator that we will...
(Ghana Web 03/06/17)
Former Finance Minister, Seth Terkper has dismissed claims that he supervised an economy which focused on taxation at the expense of production. He explains that he cannot be blamed for what the NPP believes is the huge tax burden brought onto businesses. “…When the economy takes a hit, you would have to make sure that GRA rakes in as much revenue as possible and that was the focus,” Seth Terkper asserted. Finance Minister, Ken Ofori Atta in his 2017 budget presentation criticized the NDC for the numerous taxes levied on the private sector. According to him, the plan adopted by the erstwhile administration rather worsened the plight of local businesses inhibiting their growth. The development also informed the NPP’s tax...
(Ghana Web 03/06/17)
The Ghana National Association of Poultry Farmers has told Citi Business News over 10% of eggs produced annually are disposed of due to the low patronage of the product. According to the association, though the daily production of 1.5million eggs is sufficient to meet consumption needs, the lack of sensitization has led to a drop in demand for eggs, hence profits of local poultry farmers. The association which is facing stiff competition from poultry importers say the situation is rendering most of them profitless. “We are confident the huge losses borne by farmers can be rectified if patronage is enhanced,” the Vice President of the Poultry Farmers Association, Napoleon Oduro said. He was f the view that 1.5 million eggs...
(The Independent 03/06/17)
Th term was coined by sceptical officials, worried about the importance given to Commonwealth trade deals ahead of Brexit negotiations. Plans by government ministers to boost trade links with African Commonwealth countries are being internally branded “empire 2.0” by sceptical officials who are worried about the importance being placed on such deals ahead of the UK’s negotiations of leaving the European Union (EU). International Trade Secretary Liam Fox is expected to promise to build better links with the whole of the 52 member countries of the Commonwealth when ministers from each country meet in London later this week. But as the UK is prepares itself to leave the European Union, The Times reports that British ministers are planning to talk...
(Xinhuanet 03/03/17)
The industry revitalization policy being introduced by government of Ghana aims to create at least 350,000 direct and indirect jobs when completed, Minister for Finance, Kenneth Ofori-Atta disclosed here on Thursday. The program which is aimed at sitting one medium to large scale factory in each of the 216 administrative districts in the country will be driven mainly by the private sector. "It is against this background that a National Industrial Revitalization Program with a stimulus package for industry will be established to provide technical and financial support to existing companies," the minister announced. This package, according to him, will be available for companies that "are currently distressed or are facing operational challenges, but are deemed to be viable to...
(Citifmonline 03/03/17)
President Nana Addo Dankwa Akufo-Addo, has stated that his government intends to build a strong diplomatic and economic partnership with Qatar, and, indeed, with all the countries of the Gulf, as this will draw in the necessary investments to help develop Ghana and return her onto path of progress and prosperity. President Akufo-Addo made this known when Dr. Hamad bin Abdulaziz Al Kuwari, an adviser to the Emir of Qatar, paid a courtesy call on him at the Presidency on Wednesday, March 1, 2017. The President told Dr. Hamad bin Abdulaziz Al Kuwari that his main preoccupation is how to “build our economy, so as to be able to bring employment, and generate prosperity for the mass of our people...
(Daily Trust 03/03/17)
Ghana has expressed its intention to continue with the International Monetary Fund (IMF) extended loan facility programme. Ghana has expressed its intention to continue with the International Monetary Fund (IMF) extended loan facility programme. It, however said it would review the terms to align with the fiscal policies of the new regime. Ghana began a three-year programme with the Bretton Wood institution in April 2014 to restore macroeconomic stability and establish fiscal discipline in the economy. The facility included an extended loan programme of US$ 1 billion for three years. The agreement was expected to end in April this year. However, the Minister of Finance, Mr. Ken Ofori-Atta, affirmed yesterday that the administration intended extending the IMF programme, but it...
(Ghana Web 03/03/17)
Seth Terkper, the finance minister under the erstwhile John Mahama-led administration doesn't agree with scraping taxes as outlined in the 2017 budget. Finance Minister, Ken Ofori-Atta, while delivering the 2017 Budget in Parliament announced government's decision to abolish eight taxes and reduce four others, many of which were set by the previous government. Ofori-Atta attains maintains that these "unnecessary" taxes were nuisances that hindered growth and development of industries in Ghana. However, speaking with the Accra-based radio station, Joy FM, Seth Terkper warned of dire repercussions on Ghana’s economy given the reduction of taxes by the Akufo-Addo led government. According to him, the reduction will only encourage smuggling and deprive government of needed taxes for development. The former minister particularly...
(Citifmonline 03/03/17)
New Patriotic Party (NPP) Member of Parliament for Obuasi West Constituency, Kwaku Kwarteng, says the government’s aim of abolition and reducing some taxes is to help businesses expand and employ more. According to him, the government noticed the challenges most businesses suffer, and has taken the action to ensure that they do not collapse or remain stagnant, but grow to augment government’s efforts in providing more jobs. Speaking on Eyewitness News, the Obuasi West legislator discounted claims that the removal of some import duties will promote the influx of inferior goods into the country. He noted that, the government has put in place efficient mechanisms to raise funds to finance all the policies and programmes it announced in the 2017...
(Ghana Web 03/03/17)
The Textile and Garment Workers Union of the Ghana Trades Union Congress (TUC) is set to demonstrate on 9th March, 2017 against the government on the 2017 budget presented by the Finance Minister, Ken Ofori-Atta on Thursday. The Union says the intended exercise is premised on the fact that there is nothing in the budget that will help the textile and garment industry. “We are all sick because of the budget. After all the noise about creating jobs and helping the private industries, nothing was said about the manufacturing…they are just making fun of everybody”, the General Secretary of the Textile and Garment Workers Union, Abraham Koomson told Onua FM’s Yen Nsempa hosted by Bright Asempa on Friday. Finance Minister,...
(Bloomberg 03/03/17)
Polar Star Management Ltd., which runs one of the best-performing African and Middle East hedge fund over the past five years, plans to start a private-equity unit that will invest in agriculture to exploit rising demand for food. The Cape Town-based firm plans to use its own money to buy small farms and processing companies in South Africa this year, then increase efficiency through consolidation and better management, said Murray Derksen, a director at Polar Star. It aims to raise 1.5 billion rand ($115 million) for the fund, which may also buy commodities such as grains, while targeting an internal rate of return of 8 percent to 12 percent, he said. “We looked at the increase in corn demand globally,...

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