Thursday 27 July 2017
(Myjoyonline 06/06/17)
Trade from Ghana to South Africa is currently pegged at around $7.4 million – a significant drop from three to four years ago when it was quoted in the billions. Both countries are now seeking to close the gap and forge closer trade ties. “We need to go back and understand why suddenly there has been a significant drop,” said the Chief Executive of the Ghana Investment Promotion Center, Yoofi Grant. Mr Grant was part of a 31-member business delegation from Ghana which embarked on a 7-day trade and investment promotion mission organised by the Ghana South Africa Business Chamber in collaboration with the South Africa High Commission in Ghana. The Mission to selected provinces, including Gauteng, Kwazulu-Natal and Western...
(Graphic Online 06/06/17)
About 600 experts, representatives of the international development agencies and other stakeholders are to converge on Accra next month to discuss how to fast-track the implementation of an open data system in Africa. The four-day Africa Open Data Conference, scheduled for July 17-21 2017, will be held at the Accra International Conference Centre on the theme: “Open data for sustainable development in Africa.” The regional conference with support from the global level and the World Bank will among other things discuss the progress and achievements of the open data industry. It has been a platform to raise awareness of and determine the next line of action in the effective implementation of the phenomenon in Africa. The first edition of the...
(Reuters (Eng) 06/06/17)
Gold output jumped 45 percent in 2016 compared to the previous year as new projects came online and activities expanded across the industry, the Ghana Chamber of Mines said in a report on Friday. Total gold output from Ghana, Africa's second largest producer, was 4.1 million ounces, the highest level in nearly 40 years, up from 2.8 million ounces in 2015, the report stated. Canada's Asanko Gold, which launched its operations in Ghana late 2015, produced 162,802 ounces of gold last year while US-based Newmont Gold and Anglogold Ashanti's Iduapriem mine recorded increases in output. Output from artisanal miners rose nearly six-fold to 1.5 million ounces in 2016 from 267,662 in the previous year. Total Gold revenues for 2016 including...
(Xinhuanet 06/06/17)
Delegates of an African conference in solidarity with Cuba on Monday called on the United States to lift its over 50-year economic blockade against Cuba. "We applaud the positive development in this respect and we commend the U.S. government and Cuba for their efforts towards normalizing of ties," said Namibian President Hage Geingob, officially opening the fifth Continental Africa Conference in Solidarity with Cuba here on Monday. "However, there is still much ground left to cover to ensure the complete lifting of the blockage against Cuba," said Geingob. According to Geingob, the conference will lead to the development of the common African strategy in terms of support to Cuba. The delegates also called for the return of the Guantanamo Bay,...
(AFP (eng) 06/05/17)
Israeli Prime Minister Benjamin Netanyahu on Sunday joined West African leaders at a summit in Liberia, where they hailed peacekeeping efforts in the region but warned about threats to stability. Netanyahu, who had visited east Africa in July 2016, vowed that they had "no better partner" than his country after he was received by Liberian President and outgoing head of the Economic Community of West African States (ECOWAS) Ellen Johnson Sirleaf. "Israel is coming back to Africa and Africa is coming back to Israel. I believe in Africa. I believe in its potential, present and future. It is a continent on the rise," said the Israeli leader. "Africans are seizing the future. Israel wants to seize this future with you...
(Xinhuanet 06/02/17)
Fifty-four African Union member states will convene the 5th Continental Conference of Solidarity with Cuba in the Namibian capital from June 5-7, said an Naminian official on Thursday. The Permanent Secretary of the Ministry of International relations and Cooperation, Selma Ashipala-Musavyi, said the aim of hosting the conference in Namibia is to intensify solidarity and to strengthen bounds of friendship between the people of Cuba and the progressive peoples throughout the African Continent. Namibia's President Hage Geingob will open and address the conference, which will run under the theme, "Intensifying Solidarity and continuing the legacy of Fidel and Che". The conference, which will also be attended by a Cuban delegation, will also recognize the important work done in support of...
(Xinhuanet 06/01/17)
The Government of Ghana will issue licenses to new Power Purchase Agreements (PPAs) for only renewable energy, President Addo Dankwa Akufo-Addo announced here on Wednesday. According to him, this is part of the decision to include renewable energy generation significantly in the country's energy. "Our policy is to move Ghana from a reliance on thermal towards renewable energy. We have, thus, decided that new PPAs will only be signed for renewable energy," the president announced while opening the Third Development Finance Forum (DFF) organized here by the World Bank group. Due to the importance of the energy sector in the economy, the president noted that the government sought to address the energy supply
(Ghana Web 06/01/17)
The Bank of Ghana (BoG) will continue its easing cycle, Ratings Agency, Fitch has stated in a report, adding the regulator will review downwards its policy rate forecast for the end of 2017. “The latest cut came on the back of cooling inflation and tepid private consumption, and reflects a dovish shift in monetary policy by the BoG,” BMI a subsidiary of the Ratings Agency said. Some economists had maintained that the BoG could have dropped its policy rate further than it did since the economic conditions were favourable enough to warrant the move. Investment Banker and Lecturer in Public Accounting at the Ghana Institute of Management and Public Administration (GIMPA), Dr Raziel Obeng-Okon pointed out that the primary objective...
(Ghana Web 06/01/17)
Foreign investors are looking to invest over US$50million in selected Micro Finance Institutions (MFIs) in the country, Executive Director of the Ghana Microfinance Institutions Network, Yaw Gyamfi has said. “The investors who are expected to come into the country from October to December are ready to invest up to US$50million each and will look for MFIs who have strategically positioned themselves,” he said at the 6th Annual General Meeting of the Ghana Association of Microfinance companies in Accra. Currently, there are 545 licensed Non-Bank Financial Institutions (NBFIs), made up of 467 microfinance companies, 67 money lending companies and 11 financial non-governmental organisations. Aside these, there are 415 individual susu collectors and 346 individual money lenders whose activities are monitored indirectly...
(Ghana Business News 06/01/17)
Ghana will soon issue a $2.5 billion energy bond to retire the country’s debt in the sector and to create space for increased investment in energy, the President has said. By the end of 2016 Ghana was saddled with a $2.4 billion energy debt. He noted that the government is working to move Ghana from dependence on thermal to renewable energy. Speaking at the opening of the Development Finance Forum (DFF) in Accra, today May 31, 2017, President Nana Akufo-Addo encouraged Ghanaians to participate in the Electricity Company of Ghana (ECG). The ECG is being privatized under a US government Millennium Challenge Account $500 million facility. The Private Sector Participation programme is expected to come to financial close by early...
(Bloomberg 06/01/17)
If you thought Ivory Coast’s record cocoa crop was enough to keep the bear run going, you may need to rethink. Cocoa futures almost halved from July to April on expectations that a bumper crop in top producer Ivory Coast would add to a global glut. But prices have since rebounded 15 percent, with the July contract surging by a record on Tuesday. And there are other signs the recovery may continue. With processing margins at the highest in more than a decade, factories will likely buy more beans to make cocoa butter and powder used in chocolate products. At the same time, bigger-than-expected forward sales from Ivory Coast mean there might not be much more left to offload. Lower...
(Business Ghana 06/01/17)
Employment agencies have been suspended from recruiting Ghanaians for domestic work in Gulf countries, the Minister of Employment and Labour Relations has said. At a stakeholders’ meeting on legal migration organised by the Ghana Association of Private Employment Agencies (GHAPEA) in Accra last Tuesday, Mr Ignatius Baffour Awuah said the temporary ban was part of measures to curtail many reported cases of abuse faced by some Ghanaians working in those countries. As part of measures to implement the ban, the minister said he had instructed the Labour Department not to issue further licences to employment agencies to engage in such businesses. Mr Baffuor Awuah said many Ghanaians employed as househelps in foreign countries, especially Gulf countries, were subjected to many...
(Ghana Web 06/01/17)
The Finance Minister, Ken Ofori Atta has been accused of causing financial loss to the state with the issue of the recent 2.25 billion dollar bond. According to the Minority spokesperson on Finance, Casesiel Ato Forson, the loss is up to the tune of 330 million dollars per year over the next fifteen years. Addressing the media, the former Deputy Finance Minister under the Mahama administration said, the difference between the rate of the bond and that of the current treasury bill rate is the cause of the huge amount of money the country is allegedly losing through the deal. “It will surprise you to know that, the use of proceeds as the Minister of Finance made it known to...
(Ghana Business News 06/01/17)
A legislative Instrument (LI) to control the use of Tobacco in Ghana, has been launched by the Ministry of Health and the Ghana Health Service at a ceremony to commemorate the 2017 World No-Tobacco Day in Accra. The LI 2247, which was enacted in January, would now provide the legal backing for the regulation and prevention of the use of tobacco among the populace, assist those who were into the use of the drug to discontinue it, and also protect non users from getting exposed to it. Mrs Tina Mensah, the Deputy Health Minister, who launched the LI on Wednesday, said the Ministry had tasked itself to strengthen health polices especially those related to tobacco, and would ensure that they...
(AFP (eng) 06/01/17)
One in five children born with a twin sibling in sub-Saharan Africa dies before the age of five -- three times the rate among singletons, said a study Thursday. Almost two-thirds die in the first month of life -- often succumbing to the after-effects of a difficult birth or entering the world too early or underweight, according to research published in The Lancet medical journal. And while rates of under-five deaths in the sub-Saharan African region have declined over two decades, the improvement has been much slower for twins than for single-borns. "Twins account for 10.7 percent of all under-five deaths and 15.1 percent of neonatal (newborn) deaths in the region and these percentages are increasing," the study said. "The...
(AFP (eng) 05/31/17)
Ghana's President Nana Akufo-Addo said Tuesday the killers of a soldier who was lynched by a mob while out running would be brought to justice for this "heinous crime". Captain Maxwell Mahama died on Monday when he was attacked in the Upper Denkyira district, some 80 kilometres (50 miles) from the central city of Kumasi. According to local media, residents believed he was an armed robber as he was wearing sports clothing and carrying a pistol. Akufo-Addo extended his condolences to the soldier's family in a series of tweets. "I assure them that the perpetrators of this heinous crime will be arrested and dealt with in accordance with the laws of our country," he added. "No-one involved in his murder...
(Graphic Online 05/31/17)
Ghana and Mali have pledged to work to strengthen cooperation between the two countries. In a joint communiqué issued at the end of a day’s working visit to Mali by President Nana Addo Dankwa Akufo-Addo last Sunday, the two countries agreed to reinforce their co-operation in the areas of trade, agriculture, security and the process of West African integration. They also re-affirmed their commitment to the implementation of the ECOWAS protocols on the free movement of goods and persons. On agriculture, in order to curb the smuggling of agro-chemicals, the two countries agreed to put measures in place to stop the illegal movement of agro-chemicals from Ghana to Mali, as well as take steps towards the diversification of agriculture in...
(Agence Ecofin 05/31/17)
In Ghana, 812,153 tonnes of cocoa beans were harvested on May 25, date at which end purchases of the beans in the main harvest season, Bloomberg reported citing one of the sources with knowledge of the matter. The new volume is up 4.4% as compared to 778,000 tonnes recorded at the end of last year's main and intermediate harvests. Rising purchases confirm recent forecasts which put Ghana’s cocoa output at 850,000 tons at the end of the current season, thus up 50,000 tons, due to good weather. This performance would be the fourth best since 2011-2012’s (880,000 tonnes). It should be recalled that in Ghana, the intermediate season goes from July to September. Espoir Olodo
(Myjoyonline 05/31/17)
Thirteen African countries including Ghana have signed series of partnership agreements with India to enhance the supply of agricultural machinery, credit advancement to farmers and scientific cooperation. Farm machinery suppliers from the Indian state of Gujarat signed agreements with Ghana, Zambia, Mozambique and Togo for the supply of farm machinery, training on the use of the machinery in mechanized agriculture and cooperation in the use of the machinery in mining. These partnerships were announced as African Ministers of Agriculture, private sector associations and industry representatives from Africa and India, converged for crucial sessions of deal-making at the 52nd session of the African Development Bank (AfDB) Annual Meetings in India, on May 24, 2017 to rapidly advance cooperation, a release copied...
(Washington Post 05/31/17)
The old man’s house had become a camp for the displaced. In the back yard, groups of women boiled water for rice. Small children skittered across the dirt, running into the bedroom, where they careened around the long, skinny legs of Elijah Karama. “Because of the conditions, they are mine to take care of,” said Karama, 57, more tired than proud. By conditions, he meant Boko Haram’s destruction of vast areas of northeastern Nigeria, and the hunger crisis that has followed. This city of about 1 million has absorbed an additional 1 million people who fled the Islamist militants who burned their villages and kidnapped hundreds of children. In Maiduguri, the vast majority of the displaced aren’t living in U.N...

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