Sunday 22 October 2017
(Myjoyonline 09/11/17)
Former President Jerry John Rawlings has cautioned the security in Togo to respect the peaceful protests by the civilians calling for an immediate end to the 50-year rule of the current government. The former Ghanaian leader in a statement Monday, described the situation in the neigbouring country as one of "great concern". There is uneasy calm in Togo following series of protests across the country with some residents fleeing their homes. The protesters want the country to return to the use of the 1992 constitution which imposes limits on presidential terms. But according to former President Rawlings: "The description of an imminent civil war by some commentators shows the extent to which the situation has regressed." The situation in Togo...
(Ghana Web 09/11/17)
The Ghana Employers Association (GEA) will push for a substantial reduction in the electricity tariff in the 2018 national budget. According to the Association, cost of power to businesses in Ghana is among the highest, compared to other West African countries. The Minister of Energy, Boakye Agyarko has already hinted that government will reduce electricity tariff next year. Speaking to Citi Business News after an Annual General Meeting, the Chief Executive Officer of the association, Mr. Alex Frimpong said its members will dialogue with government for their view to be imputed in the 2018 budget. “If you listen to the speech of the president, he indicated that all over the world there is price discrimination in favour of businesses. The...
(Bloomberg 09/11/17)
The South African companies that dominate the U.K.’s growing private hospital industry are counting on more people like Katie Corrie. A children’s party entertainer, Corrie opted to use 13,000 pounds ($17,000) of her savings and inheritance to get a hip replacement rather than spend months on a National Health Service waiting list. Britons like her are forking out almost 1 billion pounds a year to cover their own medical expenses, a trend that’s giving at least one industry the scope to look past Brexit turmoil. “Even if I hadn’t had the money put aside, I would have found a way to pay for it,” said Corrie, 50, who estimates the business she runs with her husband would have lost 10,000...
(Xinhuanet 09/08/17)
The European Union (EU) which placed a ban on vegetable exports from Ghana is likely to re-assess its decision by the end of this year, an official told local media here Thursday. Eric Amoako Twum, Deputy Chief Executive Officer of the Ghana Export Promotion Authority (GEPA), told the state-run Ghana News Agency (GNA) the EU would take a second look at the packaging, quality, information, standards and other key areas of the products. Twum was speaking to the GNA in Sunyani, Brong Ahafo Regional capital, some 400 km north of the national capital, during a meeting on the implementation of Ghana's National Export Strategy and the One - District-One-Exportable-Product policy. District chief executives, coordinating directors and other stakeholders in the...
(The Guardian Nigeria 09/08/17)
Internet Exchange Point of Nigeria (IXPN) has provided link with Ghana Internet Exchange Point thereby making it the first of such interconnection in the sub-region, Nigeria CommunicationsWeek has learnt. An Internet exchange point (IXP) is a physical infrastructure that allows several Internet Service Providers (ISPs) and network operators to exchange traffic between their networks, generally referred to as autonomous systems, by means of mutual peering agreements, which allow traffic to be exchanged at no cost. Reacting to this feat achieved by IXPN, Mohammed Rudman, managing director, IXPN, told Nigeria CommunicationsWeek that the link between Nigeria Internet exchange point and Ghana Internet exchange point was achieved last week and that with the interconnection of the two exchanges, internet traffic among the...
(APA 09/08/17)
The Ghanaian press is awash with the announcement of the release of funds for the implementation of the free Senior High School (SHS) policy. The Daily Graphic said the Ministry of Finance has released more than 50 percent of the funds needed to kick-start the implementation of the free SHS programme introduced by the New Patriotic Party (NPP) government. The Ghanaian Deputy Minister of Finance, Mrs. Abena Osei-Asare, said GHc280 million ($65.12 million), representing half of the total amount of money needed for the programme, had been released by the government. The Ghanaian Times says the money is expected to hit the accounts of 647 public schools across the West African country on Friday. It adds that the deputy minister...
(APA 09/08/17)
Deprivation and marginalization, underpinned by weak governance, are primary forces driving young Africans into violent extremism, according to a comprehensive new study by the United Nations Development Programme (UNDP), the first study of its kind. Based on interviews with 495 voluntary recruits to extremist organizations such as Al-Shabaab and Boko Haram, the new study also found that it is often perceived state violence or abuse of power that provides the final tipping point for the decision to join an extremist group. “Journey to Extremism in Africa: Drivers, Incentives and the Tipping Point for Recruitment” presents the results of a two-year UNDP Africa study on recruitment in the most prominent extremist groups in Africa. The study reveals a picture of a...
(Citifmonline 09/07/17)
Ghana may soon lose its fishing stock if nothing is done to overturn issues confronting the country’s fishing sector. Ghana which consumes over 950,000 metric tons of fish annually currently imports over 60 percent of its fish. Ghana in 2016 imported $135 million worth of fish because of the reduction in the country’s fish stock. According to the Minister for Fisheries and Aquaculture, Elizabeth Afoley Quaye, the huge imports could be blamed on the steady depletion of Ghana’s fish stock. “We have a deficit of over 60% of production of fish in Ghana. So we import over 600,000 metric tonnes of fish and we produce less than 400,000. At the moment we have our stocks depleting steadily and we really...
(Ghana Web 09/07/17)
Businesses that pay 25% of their profits in corporate taxes should expect to pay less from next year (2018). The corporate tax is expected to be reduced to twenty percent eventually. It follows what the Finance Minister, Ken Ofori Atta says is the consideration of reducing the tax in the 2018 budget. This is also part of the tax cuts which was key among the numerous promises by the New Patriotic Party (NPP) ahead of the 2016 general elections. Mr. Ken Ofori Atta maintains that diversifying tax revenue streams should prevent the overconcentration on Corporate Income Taxes (CIT). “How do you then tap enough people to contribute so that you do not need to focus on corporate income tax as...
(Ghana Web 09/07/17)
The local currency, the cedi, is expected to strengthen against the US dollar for the rest of the year as economic growth outperforms earlier estimates, BMI, the research outfit of rating agency Fitch has predicted. It is therefore projecting an end-year rate of GH?4.33 against the greenback. For 2018, it is projecting GH?4.19 against the US dollar. Presently, the cedi is trading at GHC4.39 against the American currency on the interbank forex market and at about GHC4.45 at the forex bureau. “The cedi is likely to begin a gradual appreciatory trend from H217 (second half of 2017) onwards due to relatively high real interest rate and significant expansion in Ghana's oil and gas production that will support real GDP growth...
(Graphic Online 09/07/17)
The National Population Council (NPC) has stated that contrary to misinformation attributed to it, the council is advocating a fewer number of children per couple, based on the target set in the National Population Policy. It, therefore, refuted the allegation that the NPC was proposing the development of a policy that would restrict the number of children a woman could have to three. It explained that the council was advocating the strict implementation of the existing National Population Policy to help control the current abnormal population and fertility growth rate to enhance national development and ensure quality living. Speaking to the Daily Graphic in Accra on Wednesday, the Executive Director of the NPC, Dr Leticia Adelaide Appiah, further explained that...
(Ghana Web 09/07/17)
The Executive Secretary of the Chamber of Petroleum Consumers (COPEC), Mr Duncan Amoah has revealed that prices of petroleum will go up in the second window of September. According to him, the resultant effect of the recent hurricane in United State of American has affected the operations of some major refineries and rendered them unable to produce. Speaking to OTEC NEWS, Duncan Amoah said some Oil Marketing Companies (OMCs) have already increased their petroleum prices yesterday. ”currently from the petroleum indexes, petrol has gone up 17% whilst diesel is 13% which gives a clear indication that there is going to be an increment in petroleum prices next month, he told Otec Fm. Mr. Duncan Amoah however assured that the Chamber...
(Citifmonline 09/07/17)
The Domestic Lumber Traders Association of Ghana (DOLTA), has called on government to as a matter of urgency ban the exports of timber to salvage the ailing timber marketing industry. According to the Association, exportation of the scarce resource is gradually kicking them out of business, hence the need for the ban. Speaking to journalists at the Sokoban Wood Village in Kumasi, the Ashanti Regional Secretary of the Domestic Lumber Traders Association, Abubakari Halifa, said the domestic market is in dire need of timber while a chunk of timber are being exported. “We want to appeal to the government to consider the immediate ban on the export of timber. We will not be happy if as a country, we are...
(Graphic Online 09/07/17)
The Chief Fire Officer, Mr Albert Brown Gaise has been re-assigned to the National Security office, Graphic Online has gathered. No reasons have been assigned for his transfer. In his absence, his deputy is to take over until a new substantive Chief Fire Officer is appointed Mr Brown Gaisie took over from Brigadier-General John Bosco Guyiri as the Chief Fire Officer of the Ghana National Fire Service in December 2014. Mr Brown Gaisie had previously served as a Regional Commander of the Greater Accra and Ashanti Regions and also served in several capacities in the GNFS as Director of Rural Fires, Director of Research, Development and Monitoring, and the Director in-charge of Operations.
(Bloomberg 09/07/17)
African Rainbow Minerals Ltd., the miner chaired by South Africa’s richest black businessman, will pay a record dividend this year as rising iron-ore and manganese prices boosted earnings at its ferrous unit. ARM will pay investors 6.50 rand a share, almost triple that of the previous year, and its 11th consecutive dividend, the Johannesburg-based company said in a statement Thursday. The company benefited from a 45 percent increase in prices received for exported iron ore and 93 percent more for its manganese. While ARM is “confident in the long-term outlook for commodities,” the company said prices will “remain volatile” this year. The rand, in which ARM pays most of its costs, has strengthened against the dollar this year, reducing earnings...
(Ghana Web 09/06/17)
A Chinese multi-billion dollar company, Genertec, is leading a campaign by the Ghana Cocoa Board (COCOBOD) to promote the consumption of Ghana cocoa in China. Genertec is on a concerted drive to drum home the need for the Chinese populace to accept Ghana cocoa as the best in the world. Junfu King, MD of Genertec gave the assurance when his company and COCOBOD marked 10 years of impressive collaboration after the Ghanaian outfit supplied the former with cocoa beans as a means of payment for the construction of the Bui Dam.
(Myjoyonline 09/06/17)
The Civil Society Platform has commended government and the International Monetary Fund (IMF) for extending country’s program with the Fund. According to a statement issued by the platform, the programme extension is in the best interest of the country, as it will “afford government time to work towards attaining the overall programme objectives of restoring debt sustainability and macroeconomic stability as well as foster a return to high growth and job creation, while protecting social spending.” Admittedly, “the programme extension in itself will not translate into successful completion unless the Government is committed to fiscal discipline and good governance” the civil society group for the IMF added. “Above all, we believe effective implementation of the current arrangement with the IMF...
(Ghana Web 09/06/17)
Government is under pressure to pay $279.4 million for a contract signed by the previous government or face judgement debt. Messrs Santa Baron, the company awarded the contract, which is demanding payment, says the previous government awarded a contract to purchase equipment and upgrade the security infrastructure for Ghana. A report on the project from the Ghana Police Service dated March 2016 indicated that “the National Security Co-ordinator requested details from the Police Administration before sending same to the Interior Ministry for action”. Yaw Donkor denied knowledge of the contract. However, the immediate-past National Security Co-ordinator, Yaw Donkor, has told the Criminal Investigation Department (CID) of the Ghana Police Service, which is investigating the genuineness or otherwise of the contract,...
(Ghana Web 09/06/17)
Woodworkers in the country have called for a ban on the export of timber and timber-related products in the wake of severe shortage of the commodity to sustain their operations. “There is no need to continue exporting timber when there is increasing demand on the local market. The future of the timber industry is very bleak for local actors whose activities revolve around the processing of logs and lumber to feed big infrastructural enhancement projects and for domestic use,” Isaac Avor, Secretary to the Timber Markets Association, told the B&FT. According to Mr. Avor, there is the need for government to consider halting the exportation of timber so as to retain the “little timber in the system” for the local...
(APA 09/06/17)
The Ghanaian press on Wednesday focuses on heavy debts saddling the private sector following protracted power crisis and the frustration of parents over admission to Senior High Schools. The Business and Financial Times (B&FT) states that the delay in the payments to companies for finished government projects and almost a decade of power crisis in the country are responsible for high indebtedness of the private sector to banks. The newspaper quotes a Bank of Ghana (BoG) Industry Report for June 2017 as showing that the private sector, which was the largest recipient of outstanding credit balances, constituted a greater portion of the bank's non-payment loans. The bank's non-payment loans increased from 87 percent in June 2016 to 94.7 percent in...

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