| Africatime
Sunday 23 April 2017
(Reuters (Eng) 03/16/17)
Ghana's annual consumer price inflation fell to 13.2 percent in February from 13.3 percent the previous month due to a marginal decline in the price of fuel, the statistics office said on Wednesday. The government of President Nana Akufo-Addo said this month in its first annual budget that it would reduce inflation to 11.2 percent by the end of the year as part of its drive to restore macroeconomic stability. Food inflation rose to an annual 7.1 percent in February from 7.0 percent in January, while non-food inflation was 16.4 percent against 16.6 percent last month. The overall February inflation rate was the lowest since Dec. 2013. "It (the drop in the fuel price) was the main contributory factor for...
(AfricaNews 03/16/17)
Just days after Ghana celebrated its 60th independence anniversary, newly elected president Nana Akufo -Addo has come under fire for running what is termed as an “elephant size” government. The government has defended itself against the accusation this after new appointments announced on Wednesday, brought the number of ministers and deputy ministers to 110. Minority leader in parliament, Haruna Iddrisu, came out guns blazing saying that the cabinet will feed on the public purse. But in response, information minister Mustapha Hamid told reporters,” we never promised a lean government.” Adding that the size of the government was necessary
(Xinhuanet 03/16/17)
Ghana's Information Minister Mustapha Hamid on Wednesday responded to criticism against the long list of ministerial nominees, saying they never made a promise of a lean government. Ghanaian president Nana Akufo-Addo on Wednesday nominated 54 deputy ministers for the government of the New Patriotic Party (NPP), swelling the size of the minister and deputy minister nominees to 110 and perhaps more. Johnson Asiedu Nketia, General Secretary of the minority National Democratic Congress (NDC), criticized the move, saying Akufo-Addo had gone contrary to a pre-election promise of instituting a lean administration. According to Nketia, the NPP has gone against the number of government appointees in the previous government led by John Dramani Mahama
(APA 03/16/17)
The appointment of deputy ministers and brutalities meted out by some airmen in the Western Region of Ghana dominate the Ghanaian media on Thursday. Img : Ghana: Press focuses on deputy ministerial appointments, brutality by airmen The Daily Graphic says 50 deputy ministers have been appointed by President Nana Addo Dankwa Akufo-Addo to serve in the various ministries. This according to the newspaper, brings the total number of ministers appointed to 110. It gave the breakdown of total nominations made by the President as having 50 ministers in total and 60 deputy minsters. The Ghanaian Times reports that some airmen in Takoradi have run amok again meting out various forms of brutalities to some residents in the capital city of...
(Xinhuanet 03/16/17)
China's aid to the education sector in Africa is helping boost teacher training, a key component in skilling the population to fast track development, a UN official has said. Ann Therese Ndong-Jatta, Director of United Nations Educational, Scientific and Cultural Organization (UNESCO) Regional Office for Eastern Africa, in an interview recognized China's contribution to Africa's education sector over the years. "We value the initiative in teacher training in Uganda and other countries in Africa. This will revitalize the teaching profession," she said. China through UNESCO donated equipment to three teacher training institutions in Uganda on March 3. Figures from the Chinese embassy here show that 137 tutors were trained and 272 pieces of Information Communication and Technology and studio equipment...
(AFP (eng) 03/16/17)
Africa will host a Commonwealth Games one day despite the blow of Durban being stripped of hosting the 2022 edition, David Grevemberg, the chief executive of The Commonwealth Games Federation (CGF), told AFP. Durban lost the right to host the Games on Monday -- just 18 months after being awarded them -- when it failed to meet criteria laid down by the CGF, primarily over costs. "I wouldn't want to make a judgement call," Grevemberg told AFP on the sidelines of a briefing by 2018 Games hosts Gold Coast on Wednesday. "Durban has hosted some great events, it is a fantastic city and are wonderful warm hosts with bright ambitions and great aspirations. "However, it takes more than a municipality,...
(Graphic Online 03/15/17)
The government yesterday took a giant step towards giving tax cuts to businesses and reducing the cost of doing business with the presentation of four tax-related bills to Parliament for amendment. The bills are the Income Tax (Amendment) Bill, 2017; the Special Petroleum Tax (Amendment) Bill, 2017; the Special Import Levy (Amendment) Bill, 2017, and the Customs and Excise (Petroleum Taxes and Petroleum Related Levies) (Repeal) Bill, 2017. The Minister of Finance, Mr Ken Ofori-Atta, presented the bills to Parliament and the Speaker of Parliament, Professor Aaron Mike Oquaye, subsequently referred them to the Finance Committee of Parliament for consideration and report.
(Graphic Online 03/15/17)
The President, Nana Addo Dankwa Akufo-Addo says the government’s first budget presented to Parliament recently was the clearest signal of its commitment to place the private sector at the forefront of redeeming the economy and enhancing growth, progress and prosperity. “We have removed the many impediments there for businesses. We want to signal to the private sector that we mean business,” the President said. He said the Ghanaian private sector was the way forward for the country, adding that the first budget had pointed the way the government was going to handle the private sector. Receiving the Chairman of the United Bank for Africa (UBA), Mr Tony Elumelu, who called to congratulate the President on his victory in the December...
(Graphic Online 03/15/17)
The leadership of the Progressive People’s Party (PPP) has accused President Nana Addo Dankwa Akufo-Addo of running a “family and friends” government in the wake of his appointment. Speaking at a press conference last Monday, the National Chairman of the PPP, Nii Allotey Brew-Hammond, took a swipe at the NPP government for its inability to form an all-inclusive government as promised during the 2016 campaign prior to the presidential and parliamentary elections. He also indicated that the outlined policies of the government would only yield a slow pace of development in the country. “We the PPP are increasingly surprised that the change in government from NDC to NPP seems to repeat mere change of personalities occupying high offices and positions...
(The Wall Street Journal 03/15/17)
Ndalo Media founder Khanyi Dhlomo and Mara Group founder Ashish Thakkar on where the potential is and what’s blocking it How is innovation in Africa different from innovation in Silicon Valley? And how can innovation in Africa be encouraged? Dan Keeler, frontier-markets editor of The Wall Street Journal, discussed those questions with Khanyi Dhlomo, founder and chief executive of Ndalo Media, a publisher based in South Africa, and Ashish Thakkar, founder of Mara Group, a pan-African investment group with operations in banking, real estate, infrastructure and technology. Edited excerpts follow. MR. KEELER: What about innovation in Africa? Khanyi, what sort of things are you seeing that are inspiring you? MS. DHLOMO:There’s a lot of innovation happening in Africa. But it’s...
(Ghana Web 03/14/17)
Many firms in the United Kingdom (UK) are now willing to do business in Ghana to take advantage of the government’s pro-business policies, a senior government official of the UK has said. Mr Adam Afriyie, a Member of Parliament (MP) and Trade Envoy for UK Prime Minister Theresa May, said this when he led a delegation from the UK-Ghana Chamber of Commerce (UKGCC) to pay a courtesy call on the Vice-President, Alhaji Dr Mahamudu Bawumia, at the Flagstaff House in Accra.
(Myjoyonline 03/14/17)
GE has announced Monday the order of a 200MW combined-cycle power plant to be operated by Amandi Energy Ltd in Aboadze, Ghana. The plant will help to add reliable and efficient capacity to the grid to tackle Ghana’s increasing demand for power. The plant’s construction will be overseen by Metka, a leading international engineering contractor. This turnkey plant will be powered by GE’s 9E.04 gas turbine with tri-fuel capabilities. Initially fueled by light crude oil, the switch will be made to indigenous gas from Sankofa natural gas field once available. “GE’s fuel capabilities are unmatched. Having a turbine that is able to switch between fuels can provide increased plant operability allowing for power generation months before the indigenous gas supply...
(Graphic Online 03/14/17)
The Minister of Aviation, Ms Cecilia Abena Dapaah, says Ghana is on course to become the aviation hub in West Africa. She said the expansion of the airports in Accra, Kumasi and Tamale, as well as upgrading of airports in other parts of the country, were meant to enhance international and domestic travels. The minister was speaking to the Netherlands Ambassador to Ghana, Mr Ron Strikker, who had called on her in Accra. She indicated that enhancing the aviation industry would also attract investors to Ghana and boost businesses. “Developments are ongoing at the Kumasi and Tamale airports. A maintenance repair and overhaul centre for servicing aircraft is being constructed at the Tamale airport so that aircraft would not have...
(Ghana Web 03/14/17)
The Public Interest and Accountability Committee (PIAC) says it needs to be vested with the authority to sanction government institutions that will misappropriate revenues generated from the country’s oil and gas industry. PIAC has authored several reports, flagging numerous breaches of the laws governing the use of oil proceeds. In some instances, it detected millions of dollars in oil money spent on projects which did not exist or could not be traced. Despite these exposures, no action had been taken against the agencies or managers who preside over these blunders. Speaking to Empire FM’s Nana Adjoa Entsuah, the vice president of PIAC, Kwame Jantuah said it is high time the unabated misappropriation of the country’s oil revenues stop. “It is...
(Agence Ecofin 03/14/17)
The Land Policy Initiative (LPI), a joint programme of the tripartite consortium consisting of the African Union Commission (AUC), the African Development Bank (AfDB) and the United Nations Economic Commission for Africa (ECA) has launched a pilot project to track progress in implementing in the AU Declaration on land issues in Africa. This was revealed by the ECA in a press statement dated March 7. In collaboration with the International Food Policy Research Institute (IFPRI), the project will assess progress made in implementing the key decisions and commitments of the AU Declaration on Land adopted in July 2009 by the General Assembly of the pan-African institution. “We are to a large extent in unchartered waters given many of our Member...
(Graphic Online 03/13/17)
Ghana and Mauritius have signed a treaty, the Double Taxation Avoidance Agreement (DTAA), to avoid or eliminate double taxation of the same income in the two countries. The two countries also set up a permanent joint commission on bilateral cooperation as part of measures to facilitate trade between them. Additionally, they have agreed to collaborate on an investment promotion and protection agreement to better channel investments into each other’s country, possibly via special investment zones. The Foreign Affairs and Regional Integration Minister, Ms Shirley Ayorkor Botchwey, signed the agreement on behalf of Ghana, while the Minister of Foreign Affairs, Regional Integration and International Trade, Mr Seetanah Lutchmeenaraidoo, signed on behalf of Mauritius. The DTAA is subject to ratification by Ghana’s...
(Graphic Online 03/13/17)
The President of US-Africa Business Centre at the US Chamber of Commerce, Mr Scott Eisner, has expressed the resolve of the chamber to make Africa the frontline of President Donald Trump’s administration in terms of trade policies. Towards that, he said, the chamber would soon begin talks with some key stakeholders in the new administration in America to push for the development of a US-African trade policy. “The US Chamber of Commerce, together with its affiliates in Africa, such as the American Chamber of Commerce (AmCham) Ghana, will soon begin discussions with key personalities in the United State of America to push for the development of US-African trade policy,” Mr Eisner said at a forum organised by the AmCham on...
(Reuters (Eng) 03/13/17)
The United Arab Emirates, one of the Middle East's largest economies, wants to expand trade ties with faster growing nations in Asia and Africa, a senior official said on Sunday. Rich Gulf Arab states are looking at ways to diversify their economies, including who they trade with, after more than two years of depressed oil prices forced a rethink of government spending. The pace of economic growth in Asian and sub-Saharan African economies has made them ideal partners, Abdullah al-Saleh, undersecretary for foreign trade and industry at the UAE ministry of the economy, told Reuters in an interview in Dubai. Asia's two largest economies China and India are expected to grow by 6.5 percent and 7.2 percent this year whilst...
(Xinhuanet 03/10/17)
The Government of Ghana completed its sale of three-year domestic capital market bond here late Thursday, raking in 218.14 million U.S. dollars, according to a statement from the arrangers. The bond, which is part of the projected 4.1 billion U.S. dollars to be raised by the central bank on behalf of the government over the first quarter of 2017, closed late Thursday at a coupon rate of 21.50 percent with an initial guidance rate of between 19.00 percent and 22.00 percent. This is Ghana’s second domestic bond since new president Nana Akufo-Addo took power on January 7, with a debt to GDP ratio a bit above 70 percent. Using the book-building approach led by Barclays, Strategic African Securities (SAS) and...
(Xinhuanet 03/10/17)
Although Ghana attained 80 percent national water coverage two years ahead of the Millennium Development Goals target date of December 2015, the country's water supply system is under stress, officials stated here on Thursday. Speaking during the media launch ahead of the World Water Day later this month, Margaret Macauley, Chief Manager of Water Quality Assurance at the state-run Ghana Water Company Limited (GWCL), noted that most of the company's water treatment plants were under threat due to water pollution and environmental degradation that has affected the quality of raw water in the basins. According to her, most of the country's water treatment plants were under serious threat as a result of pressures from economic activities, including farming along the...

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