Tuesday 23 January 2018
(Ghana Business News 07/18/13)
Dr Omani Boamah, Minister of Communications, has reiterated Government’s commitment to supporting and empowering Ghanaian entrepreneurs to grow and create more jobs for the unemployed youth. He noted that policies that were implemented by the Government to promote local businesses were yielding positive results. Dr Boamah made the remarks when a delegation from Prymo Limited, producers of “One4All” mobile recharge card, called on him at his office in Accra on Wednesday. He said Government was working hard to install more electronic communication masts in the rural areas through the Ghana Investment Fund for Electronic Communication, to provide mobile telephone service to the people. Dr Boamah expressed the hope that the innovation by Prymo Limited would go a long way to...
(Dw-World 07/18/13)
Ahead of Mali's July 28 elections,regional body ECOWAS meets to discuss the situation there and in Guinea-Bissau where the absence of a functional government has allowed drug trafficking to flourish. Mali is battling an islamist insurgency, while Guinea-Bissau seeks to recover from a coup. Regional leaders from the Economic Community of West African States (ECOWAS) grouping have used diplomacy, sanctions and a plan for military intervention to nudge Mali towards a restoration of constitutional order. The case is much worse for Guinea-Bissau which has been nicknamed the ‘narco state'. ECOWAS needs to commit to a common strategy to help the coup-plagued country implement security, justice and electoral reforms needed to escape its status as a link in drug trafficking to...
(Myjoyonline 07/18/13)
A former High Commissioner to South Africa, Dr. Jimmy Heyman believes that Ghananian artistry in cake making can be leveraged in exporting cakes. He was speaking at the 37th Graduation and Exhibition ceremony of Cake Tekniks held at the Accra International Conference Center (AICC) last Saturday. Dr. Heyman, who was chairman for the occasion said, he was immensely impressed with the assortments of beautifully crafted cakes especially those that had kente impressions carefully designed in them. These designs he said, were unique to Ghana and could be an opportunity to customize cakes for export. There is a precedent, he stated. Jollof rice was originally from Gambia and Senegal, he revealed. It is today, a household dish in Ghana and an...
(Ghana Business News 07/17/13)
The US government has assured Ghana that funds for the second Millennium Challenge Corporation (MCC) compact will be released immediately after all negotiations are done. A report on Ghana’s quest for the second MCC compact, a constraints analysis, a concept note and a concept paper have all been completed and submitted to the US corporation as at March 2013. Speaking from Washington DC through a teleconference last week, Gayle Smith, Special Assistant to the US President and Senior Director, National Security Council, said agreements under MCC compacts are negotiated carefully in terms of the substance as well as constraints analysis before implementation. “So the money will start to flow as soon as those negotiations are completed,” Ms Smith answered in...
(Vibe Ghana 07/17/13)
Vice President Kwesi Amissah-Arthur on Wednesday said the economy was not broke, rather an exceptional fiscal situation last year created challenges. He said the situation required measures to create stability and to pursue growth-enhancing programmes. The fiscal challenges, he added, were transmitted onto the monetary sector this year (2013), and there was a decline in concessional financing. At a meeting with the Governing Council of the Private Enterprise Foundation (PEF), in Accra, the Vice President said government was therefore considering the use of tariffs, and leveraging the private sector to team up with government in delivering investment. He cited the slow rate of investment in maintenance in the power sector at the Volta River Authority (VRA), and called for a...
(Ghana Business News 07/17/13)
The long and cumbersome processes importers have to go through at the Tema Harbour before clearing their cargo are gradually turning the port into an unattractive destination for doing business. As a result of the delays, importers pay more for the trucks hired to cart their goods from the port. For instance, an importer had to pay GH¢21,000 to clear printing materials, instead of GH¢6,000, because the containers had to go through many processes. While many trucks exiting the port with loaded cargo have to wait for several days before being processed and discharged by the Customs Division of the Ghana Revenue Authority (GRA) and other agencies involved in the clearing process, some importers have to pay more to clear...
(Ventures-Africa 07/17/13)
VENTURES AFRICA – Ghana’s government has reaffirmed its commitment to the use of Private-Public Partnership (PPP) as an appropriate strategy for financing public infrastructural development for the accelerated economic development of the country. This was contained in a press release by the Ghana government yesterday. PPP is a contractual arrangement between a public sector entity and a private one for the delivery of public services, with a significant transfer of risk to the private sector over a period of time. When passed, the government of President John Mahama hopes to use PPP to provide better infrastructure and services through the use of private sector financial, human and technical resources, thereby freeing government resources for other equally important uses. The statement...
(Voice of America 07/17/13)
West African regional leaders plan to open an extraordinary two-day summit on Wednesday in Nigeria’s capital, Abuja. Sonny Ugoh, communications director for the Economic Community of West African States (ECOWAS), says the leaders will consider the latest political and security situation in Mali in the run-up to that country’s July 28 presidential election. “They will review the political health of the organization and member states, the economic health of the region, and give directive as to what initiative they think we should take, in order to address whatever challenges they determine that we need to address,” said Ugoh. He says Burkinabe President Blaise Compaoré will brief other heads of state about the situation in Mali. Mr. Compaoré mediated talks between...
(Ventures-Africa 07/17/13)
VENTURES AFRICA – Shell Ghana Limited, a subsidiary of oil major Shell Global is to sell its majority stake in the Ghanaian subsidiary to Africa-based private investment firm, Helios Fund, and the Swiss-based oil trader, Vitol. The move is part of a proposed restructuring of the Ghanaian oil marketing subsidiary. Shell Global, which currently has about 82 percent interest in Shell Ghana, is billed to sell about 50 per cent of its stake to the two companies for an undisclosed amount. Shell Global will retain the remaining 25 percent stake. The Chief Executive Officer (CEO) of Ghana’s National Petroleum Authority (NPA), Alex Mould, made these disclosures in an interview with Ghana’s Daily Graphic newspaper in Accra. He said the deal...
(Vibe Ghana 07/17/13)
The two sides in the election petition hearing have brought to an end, their evidence in the trial paving for their addresses scheduled for July 31, 2013. The case has been running for the past 46 days since substantive hearing begun. The Petitioners – Nana Addo Dankwa Akufo-Addo, his 2012 running mate Dr. Mahamudu and their party’s national Chairman Jake Obetsebi-Lamptey – filed to challenge the results of the 2012 presidential poll in the Supreme Court with reason that the election was fraught with too many anomalies which robbed their Candidate of victory. The respondents in the case include President John Mahama, the Electoral Commission and the governing National Democratic Congress. The case has seen various witnesses on both sides...
( 07/17/13)
JOY BUSINESS has gathered the price of major petroleum products at the pumps have been increased between 1 and 6%. The price of Premium/Petrol has been increased by 1.71%, Gas Oil/Diesel by 1.27% and LPG by 6.18%. The price changes, however, take effect today. This comes after the latest price review by the National Petroleum Authority, to reflect world market trends which saw the average prices in the last two weeks exceed the allowable threshold. This is in line with the government's resolve not to interfere with the Authority’s bi-monthly review by way of subsidies for consumers. The last of such review was carried out on July 1, 2013, and officials have said, this was not publicized because there was...
( 07/17/13)
President of the Dominion University College, Dr. Ekwow Spio-Garbrah, has challenged Ghanaians to participate in the governance of the country and not to leave politics to a select few. He said although some of these leaders make politics attractive, it should not prevent ordinary people from entering into politics. Dr. Spio-Gabrah who was speaking on the Citi Breakfast Show on Tuesday expressed worry that the majority of the individuals serving in leadership positions in the country are only in it for selfish gains. “There tends to be more people in politics these days who are there looking for themselves than the number of those who are there for the national interest, and that is very, very difficult. And there are...
( 07/17/13)
Africa’s oil and gas industry is poised for momentous growth despite its grappling with severe stresses of a challenging economic and political environment on the continent, fuelled by poor physical infrastructure, corruption, an uncertain regulatory framework, and a lack of skills, according to a review issued by PwC. PwC’s ‘Africa oil and gas review’ of developments in the African oil and gas industry is the third in a series of reviews of the sector by the tax, assurance and advisory solutions firm. Uyi Akpata, PwC Africa oil and gas industry leader/deputy country senior partner, Nigeria, says: “The challenges facing oil and gas companies operating in Africa are diverse and numerous. Political interference, uncertainty and delays in passing laws, energy policies...
(Myjoyonline 07/17/13)
The Government Statistician, Dr Philomena Nyarko, has suggested that the legal marriage age should be increased from 18 to 23 years, to ensure that young women become physically, socially and psychologically prepared, before child bearing. She indicated that this would not only prepare them for marriage, but also slow population growth by 15 to 20 per cent, in the country. Under the Children's Act, the legal minimum age for marriage is 18 years, but the Government statistician is optimistic that increasing it to 23 years would help the young ones, especially the females, to prepare adequately before raising a family. Section 14 (2) of the Children Act, 1998 states that 'the minimum age of marriage of whatever age shall be...
(Vibe Ghana 07/17/13)
Lack of serious commitment to secondary and technical education in Ghana is stifling industry and deepening the unemployment situation. Dr Christian Anthony-Krueger, former Head of the Mathematics and Science Department, University of Cape Coast, said this at the 22nd Anniversary and First Speech Day of the Dabala Senior High Technical School in the South Tongu District. It was on the theme: “Striving for Quality Senior High Technical Education in Less Endowed Schools –Role of Stakeholders”. Dr Anthony-Krueger said problems of inadequate and poor infrastructure, inadequate and low quality teachers, lack of books and teaching aids and large class sizes continued to plague technical education. He identified frequent industrial action by teachers and riotous students’ behaviour as another challenge. Dr Anthony-Krueger,...
(Vibe Ghana 07/16/13)
The Singapore’s government is to open a trade and investment centre in Accra to promote economic partnership among the countries in the West Africa sub-region. The International Enterprise (IE) Singapore, an agency under the Singapore Ministry of Trade and Industry, will engage countries within Economic Community of West African States (ECOWAS) bloc with the official opening of its first Overseas Centre in the sub-region to be based in Ghana. IE Singapore is a government agency promoting the growth of Singapore’s overseas investments and trade. Mr Ian Lee, IE Singapore’s Centre Director in Accra, said in a statement copied to the Ghana News Agency that the centre to be opened on July 23, aimed to catalyze strategic trade and investment initiatives...
(Ghana Business News 07/16/13)
Vice President Kwesi Bekoe Amissah-Arthur on Monday said the Government would reduce further the transmission of infectious diseases, and mitigate the effects of HIV/AIDS, tuberculosis and malaria. He said the Government has made progress in implementing policies and practices that have helped slowed the three epidemics, and would further ensure equitable and universal access to essential medicines, commodities and services for improved life expectancy. Vice President Amissah-Arthur, who was contributing to a panel discussion at the African Union (AU) Special Summit on HIV/AIDS, TB, Malaria and Other Infectious Diseases, in Abuja, Nigeria, said Ghana is on track in achieving the Abuja and Millennium Development Goal (MDG) targets. Tagged Abuja +12, the two-day summit, which began Monday, on the theme “Ownership,...
(Ghana Business News 07/16/13)
The Ghana government has GH¢420.99 million of utility arrears in the energy sector to clear as at the end of 2012. According to a report by the Ministry of Finance and Economic Planning (MoFEP), obtained by ghanabusinessnews.com, the government owes three key state agencies in the power supply chain – the Volta River Authority (VRA), the Electricity Company of Ghana (ECG) and the Northern Electricity Distribution Company (NEDCo). The government’s indebtedness to VRA, ECG and NEDCo was GH¢239.89 million, GH¢107.73 million and GH¢73.37 million respectively as at the end of 2012, indicates the report which was completed May 2013. The government, through MoFEP and the Energy Ministry has therefore developed an arrears clearance plan to effectively deal with the issue...
(Mail & Guardian 07/16/13)
Immigration authorities say more than 4 500 Chinese nationals have been repatriated after a series of swoops on illegal goldmines. The Guardian has learned that Ghana's government, which depends heavily on China for billions of dollars in loans and as its major trading partner, believes Beijing may be retaliating, damaging relations between the two countries. "Of late we have seen a tightening of the visa regime at the Chinese embassy for Ghanaians. We don't know whether this is a manifestation of our actions to deport illegal Chinese goldminers," said Alhaji Inusah Fuseini, Ghana's minister of lands and mines. "This is a matter for concern. Relations between China and Ghana go back a long way, and they had been on the...
(Vibe Ghana 07/16/13)
Former President, John Agyekum Kufuor, is claiming that Ghana’s economy grew by five folds in the eight years that he presided over the nation’s affairs. He said the unparalleled economic achievements under his tutelage reflected positively in the health of the nation and its people just as the policies of his forebear, former Prime Minister in the Second Republic, Dr. Kofi Abrefa Busia, whom he also described as his mentor, did. He said: “Prof. Busia was my referee during my Oxford days and I also learnt a lot while serving in his government which had a positive impact on my leadership”. The former Ghanaian leader made the comments on Adom TV’s Badwam programme Monday. He defended a statement he made...

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