Tuesday 26 September 2017
(Ghana Business News 05/17/13)
The Canadian government has in the fiscal year 2011-2012 giving Ghana a total of $131 million in development assistance. According to Canadian authorities, Ghana is a country of focus for the Canadian International Development Agency (CIDA), and bilateral development assistance focuses on two sectors: Food Security and Children and Youth (with an emphasis on water, sanitation and hygiene). Governance, equality between women and men, and the environment are cross-cutting themes, they add. Ghana being the first country in Africa to receive development assistance from Canada in 1957, the country is currently Canada’s fifth-largest development partner in the world. According to Canadian development official information gathered by ghanabusinessnews.com more than 65% of assistance is provided through programme-based approaches, including general, sector...
(Myjoyonline 05/17/13)
President John Mahama has given Asantehene Otumfuor Osei Tutu II the strongest assurance criminal activities in Kumasi will soon be over. The President says the security agencies are on top of the situation and are currently dealing with them. He was speaking during a courtesy call on him by the Asantehene at the Flagstaff House. Kumasi, the capital of Ashanti Region has in recent days seen a number of violent attacks some of which have resulted in deaths. The attacks have led to some sense of insecurity in the area. President Mahama took advantage of the visit by Otumfuor Osei Tutu II to reassure him of the efforts by the security personnel to ensure law and order is in the...
(The Globalnewsreel.com 05/17/13)
The Founder and Leader of Public Youth and Students Movement of Ghana (PUSMOG), Fredrick Duncan Modzabi said Nana Addo Dankwa Akufo-Addo, will fail in his ambition to have the Supreme Court declare him as the legitimate winner of the 2012 presidential elections. According to Mr Modzabi, the office of President eluded Nana Akufo-Addo after he and the NPP failed to seek a court injunction against the swearing-in of John Dramani Mahama as President of Ghana. Mr Modzabi is therefore appealing to the Supreme Court to either strike off the name of the president from the case or declare the petition null and void. He asserted that the original entry of the case against the President was statutorily void of any...
(The Chronicle 05/17/13)
The most miserable person on earth is not the person without sight, but a person with sight but no vision, said Helen Keller, a renowned writer who was born blind. It took a second for Rev. Dr. Samuel Donkor, President and Founder of the All Nations University College (ANUC), a Koforidua-based private tertiary institution, to dream about establishing the aforementioned college, but many years to bring the dream into reality. Despite the numerous challenges he encountered at the initial stages, Dr. Donkor gave birth to the university because he was bubbled, infatuated and impregnated with a vision that no storm could blow off. The All Nation University College was first established by the All Nations Full Gospel Church (ANFGC), Toronto,...
( 05/17/13)
President John Mahama has said the decision by his arch political opponent, Nana Addo Dankwa Akufo-Addo, to resort to the courts to challenge the 2012 presidential results will strengthen, rather than put Ghana’s democracy in danger. President Mahama told the visiting Asanteman Council, led by Asantehene Otumfuo Osei Tutu II at the Flagstaff House on Friday May 17, 2013 that: “People think the nation is being buffeted by some uncertain as a result of this court case; I do think that it strengthens our democracy”. He said: “…Even though we had a dispute or somebody contests the results of the election, he has decided to go to Court and we are giving the Court the opportunity to listen to his...
( 05/17/13)
President John Mahama has said African leaders should help deal with the menace of “silent corruption” in the public sector. He said this type of corruption is not the in form of direct bribes but can be seen in the poor execution of public-sector projects with inadequate inputs, and the supply of substandard goods - especially drugs and equipment - to public-sector organisations. He called for strict adherence to law and democracy as Africa seeks to check public-sector corruption. Mr. Mahama was addressing the opening of the 2nd Africa Congress of Accountants (ACOA) under the theme “Africa’s Economic Growth, Accountability and Democracy”, in Accra. Corruption is reckoned to be the major cause of Africa’s under-development, depriving the continent’s people of...
(The Christian Science Monitor 05/16/13)
Thousands of Women, mostly from the Christian community, last Saturday thronged the Golden Jubilee Park in Kumasi in search of Mr. and Mrs. Right. The few men present were also desperately looking for women as lifelong partners. The occasion was the second Singles Summit organised by Moment of Glory Prayer Army (MOGPA), a Christian prayer network, which goes by the motto “Ablaze, response for God.” It seems Rev. OB is Ghana’s answer to London-based Nigerian Pastor Chris Ojibani, who first organised the first-ever singles seminar in February 2010 at the Accra Sports Stadium, and followed it up with another two-day Singles Seminar in November 2010, at the Baba Yara Sports Stadium. The Nigerian pastor has been organising such meetings for...
(Reuters (Eng) 05/15/13)
Ghana plans to issue a Eurobond worth up to $1 billion to refinance existing debt, the vice-president of the oil- and cocoa-producing West African nation told Reuters on Wednesday. "We are looking at the best conditions including costs and we will not do it until we're convinced it is the right time," Kwesi Amissah-Arthur said. Ghana's Finance Minister Seth Terkper said the government had yet to appoint advisors for the transaction. The proposal for the bond is subject to approval by Ghana's parliament, which is currently in recess. (Reporting by Kwasi Kpodo; Writing by Bate Felix; Editing by John Stonestreet)
(Voice of America 05/14/13)
UNITED NATIONS — The United Nations Security Council pointed Monday to the connection between terrorism in Africa and organized crime, and called for a strengthened global response. The 15-member Security Council unanimously adopted a statement declaring its deep concern for what it calls the increasing violence perpetrated by armed groups, the number of which, it said, are growing in several regions and sub-regions of Africa. The council approved the statement during a discussion of the fight against terrorism in Africa. In expressing its concern about the connection between terrorism and transnational organized crime, and with illicit activities such as drugs, arms and human trafficking, the Security Council urged enhanced coordination to strengthen a global response. UN Secretary-General Ban Ki-moon told...
( 05/13/13)
Vice-President Kwesi Bekoe Amissah-Arthur has assured Ghanaians of the effective management of the nation's oil proceeds and tasked the media and civil society to continue to hold the government accountable to facilitate transparency.He said the proceeds would be fairly distributed, and other related matters effectively handled for the oil exploitation to become a blessing rather than a curse. In a panel discussion on resource wealth management at the World Economic Forum on Africa 2013 underway in Cape Town, South Africa, the Vice-President said the government had put in place the necessary legislative framework for the effective management of oil resources. Ghana discovered oil in commercial quantities in 2007 and actual production began in 2011, but fears are that oil resources,...
(Myjoyonline 05/13/13)
Dr. Kwesi Anning, Director of Academic Affairs and Research at the Kofi Annan International Peace Keeping Centre (KAIPTC), is of the view Ghana’s laws are partly to blame for the rough nature of gun acquisition in the country. Residents of the Ashanti Regional capital, Kumasi, say they are living in fear, following the spate of violent gun attacks that has left six people killed in less than a week. In the latest incident, five armed men stormed a pub in Dichemso in Kumasi and shot Prince Opoku Antoh, nephew of NPP regional Chairman F.F. Antoh. Sunday’s killing summed up a busy week for the police who have struggled to keep up with armed gangs who have been on rampage there...
( 05/13/13)
The International Monetary Fund (IMF) is optimistic the momentum of growth of the Ghanaian economy will continue to be strong in the wake of a stable business environment. With government targeting a single inflation by the end of the year and the move by the central bank to increase foreign exchange on the market, the fund expects a more robust economic growth this year. Resident representative for the African Department, Samir Jahjah tells citi business news, government’s stringent policies in place will ensure that Ghana achieves growth. “The Surprising element of Ghana’s economy is the growth which has been very strong over the last few years; the momentum has been very positive, and it continues to be positive driven by...
(Reuters (Eng) 05/10/13)
Africa's economic development is being held back by a "hemorrhage" of illicit financial flows, which may be getting worse, the African Development Bank said on Friday, calling for reforms to stem the losses. A draft report to be presented at the AfDB's annual meeting in Morocco later this month shows net resource outflows from Africa totaling up to $1.4 trillion over the 30-year period to 2009, far exceeding inflows to the continent. Illicit financial flows were "the main driving force" behind $1.2-1.3 trillion of the three-decade net drain, it said. This is about four times Africa's current external debt and almost equivalent to its current GDP. "The trend is continuing, it could even be increasing," AfDB Chief Economist Mthuli Ncube...
(Myjoyonline 05/08/13)
Mobile Data statistics published by the National Communication Authority for the first quarter of 2013 indicates the MTN Ghana has 5.82million data subscribers, representing 65% of the total, which stood at 8.9million. MTN Ghana also crossed the 12millionth subscriber mark and finished the quarter with over 12million voice subscribers, which represents 45% of the over 26million total mobile voice subscriptions in the country as of March 2013. The market leader reported at the end of 2012 its data revenue increase by a whopping 96.1% on the back of “improved handsets, lower data tariffs and bundles” which give value for money. MTN Ghana has since last two year been running a data-focused month it calls i-Fest (Internet Festival) every September since...
(Myjoyonline 05/08/13)
Expresso Ghana has landed the US$700 million 17,000km-long ACE fibre optic cable on the shores of Ghana. The cable is due to be launched in Ghana on May 10, 2013, so that customers of Expresso would begin to enjoy high-speed broadband services on the Expresso network. ACE is the acronym for Africa Coast to Europe submarine cable, and represents a consortium of 19 members, including Expresso-Dolphin, the mother company of Expresso Ghana. The cable stretches from France to South Africa, connecting 23 countries mainly on the coast of Africa, but also landlocked countries like Mali and Niger through terrestrial links. It is the first cable system to connect seven African countries in a stretch. Correspondence from Expresso Ghana said Expresso-Dolphin...
(Reuters (Eng) 05/07/13)
Kosmos Energy will invest $400 million in its Ghana operations in 2013 as part of its commitments to the West African nation's Jubilee oil field and other projects, the firm's CEO said on Tuesday. "This covers our commitment to the rest of the Jubilee development and also the new Tweneboa, Enyera and Ntomme fields (TEN) project," Brian Maxted told journalists in the Ghanaian capital. The New York-listed firm holds a 24.1 percent stake in Ghana's Jubilee field which started pumping oil in December 2010 and has hit production of between 110,000 and 115,000 barrels a day over the last 3 months. Kosmos owns 19 percent of the TEN project which is expected pump its first oil in 2016. Speaking on...
( 05/07/13)
The Food and Agricultural Organisation (FAO) will in the coming months kick start a project that aims at reducing rural poverty by using cassava value-chain as an entry point for employment and income creation in northern Ghana. The initiative will begin on a pilot basis, targeting selected areas in northern Ghana, and will subsequently be replicated in other regions. The project, according to FAO, is designed to build upon previous assessment of similar projects such as the Global Cassava Development Strategy (2000), the Roots and Tuber Improvement and Marketing Programme (RTIMP). It is also in line with the Medium-Term Agricultural Sector Investment Plan (METASIP) developed by the government of Ghana, to implement the Second Food and Agricultural Development Policy (FASDEP...
(Ghana Business News 05/07/13)
Ghana’s gas processing plant project at Atuabo would be completed before its deadline this year, Mr. Samuel Agyemah, official of the Ghana National Gas Company, has said. He said construction of “shallow rafts and pile foundation to carry the gas processing plant is about 90 per cent completed” and four additional units of the plant including air coolers, compressor and tlytol re-generator arrived at the site, and other components the plant would arrive for installation on May 7. Mr. Agyeman, who made the remarks when Dr. Sipa Yankey, the Chief Executive Officer of the Company, visited the site, said the project was about 70 per cent complete. Dr. Yankey inspected construction of 150 millimeter long concrete slope projector off the...
(Myjoyonline 05/03/13)
The Foreign Affairs Minister Hannah Tetteh has assured investors that government will accept and abide by the judgement of the Supreme Court after hearing the election petition challenging the legitimacy of President John Mahama. The New Patriotic Party (NPP) 2012 presidential candidate Nana Akufo Addo, his running mate Dr. Mahamadu Bawumia and the national chairman of the party are in court challenging the declaration of the president as winner in the last elections. Addressing the Africa Global Business Forum in Dubai, Hannah Tetteh said the government will respect the decision of the court regardless of who it favours. Ghana, she said, has had peaceful transfers of power without any problem. “Our elections have been challenged but they are being challenged...
( 04/30/13)
Dubai: African countries, Gabon and Ghana participating at the International Property Show are looking to attract about $2 billion each in investments across diverse sectors, including affordable housing and agricultural land. Ghana hopes to attract $2 billion in investments for projects in oil and gas, infrastructure, industrial development and transport systems, Seth Baah, President of the Ghana Chamber of Commerce and Industry, told Gulf News. The West African nation has a deficit of 1.5 million affordable homes in need of a foreign investment boost, he said. “We are looking to build lower-end homes in the price range of $40,000 that the ordinary masses can buy,” he said. It hopes to attract half a billion dollars for agricultural land development, another...

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