Wednesday 20 September 2017
(Citifmonline 08/09/17)
Ghana ranks high on the list African countries with 90 per cent and above in percentage in vaccinations, Dr Anthony Nsiah-Asare, the Director General of the Ghana Health Service (GHS) has said. He stressed: “Ghana is one of the best African countries as far as vaccinations are concerned, in fact we are 90 per cent and above in percentage rate and this is highly substantial.” Dr Nsiah-Asare said this during an interview in Accra on Tuesday. Confirming the availability and distribution of vaccine to hospitals in the country on August 2, Dr Nsiah-Asare advised mothers to have their children vaccinated for the ones they had missed for three weeks now. “Polio vaccines are in, so parents and mothers whose children...
(Xinhuanet 08/09/17)
The United States Trade Representative (USTR) on Wednesday affirmed the commitment of his country to Africa and saw "great potential to grow and deepen trade relationship." Robert E. Lighthizer expressed this in opening speech of the ministerial plenary as part of the 16th Forum of the Africa Growth and Opportunity Act (AGOA), on Wednesday here in Togolese capital Lome. "The United States is committed to Africa. We see great potential to grow and deepen our trade relationship, with the goal of establishing a true partnership for the future", Lighthizer said. "By lowering barriers and tackling other constraints that impede trade and investment, we are poised to see U.S.-Africa trade flourish", he said, underscoring that "much more work needs to be...
(Business Ghana 08/08/17)
The Ministry of Finance has begun the process of settling its indebtedness of GH¢3.4 billion to some companies as part of efforts to save them from distress. The payment affects more than 900 different invoices submitted by the affected companies, the Minister of Finance, Mr Ken Ofori-Atta, told the Daily Graphic in an interview last Friday. Settlement of the arrears began on August 1, 2017, after audits had been conducted on the submitted invoices. Accordingly, Mr Ofori-Atta said he had authorised the release of GH¢25m for the implementation of the first phase of the programme. He said the move was in fulfilment of the government’s commitment to provide support to distressed companies as announced in the 2017 budget and mid-year...
(Ghana Web 08/08/17)
President Nana Addo Dankwa Akufo-Addo has reiterated his commitment to addressing the numerous economic challenges that have stifled the country’s growth for some years now. According to him, the current government of the New Patriotic Party (NPP) was putting various pragmatic measures in place to rebuild the “shattered” Ghanaian economy and fix the mess created by the previous NDC government. “We came to meet empty coffers but Ghanaians voted overwhelmingly for me and the NPP to fix the economy, and it was obvious in the ‘Asempa budget’ read by the Finance Minister that the economy will bounce back and the country will get more money for initiatives that will improve the lot of Ghanaians.” Addressing a durbar of chiefs and...
(Business Ghana 08/08/17)
Britain has described Ghana as a model of democracy and rule of law the rest of the African continent can emulate to position the continent as an emerging world power in the years ahead. As such, the UK has declared to remain a strong trading partner of Ghana when it finally exits the European Union (Brexit) in March 2019. Ghana commended In recognition of the country’s political stability and peaceful transfer of power from one political party to the other after seven successful elections, the British government has been motivated to further strengthen ties with Ghana and also partner it to build a stronger Commonwealth. Sharing his perspectives in an exclusive interview with the Daily Graphic in London, the UK...
(Citifmonline 08/08/17)
Auto Parts West Africa and Ghana Motor Show, both international trade shows on Automobiles and its vertical industries will take place in Accra on September 13-16, 2017, at the International Trade Fair Center. Auto Parts West Africa Show will feature aftermarket manufacturers and suppliers showcasing innovative products and services, while Ghana Motor Show will provide an exclusive platform for car dealerships, accessory companies, banks offering auto loans, insurance companies and all stake holders in the car industry to potential buyers under one roof. These trade shows will bring together exhibitors from 15 countries across the globe to create a platform for networking, discuss emerging trends and make connections with professionals from all areas of the automobile industry. “We have created...
(Ghana Web 08/08/17)
The President of the Africa Development Bank, Dr Akinwumi Adesina, has charged Ghana to get off from the bottom of the cocoa value chain and move to the top by processing and adding value to what it produces. Ghana is one of the largest producers of cocoa in the world. Both Ghana and Ivory Cost account for 65 percent for the global production of cocoa. According to Dr Adesina, Ghana does very well in terms of production of raw beans but it is not doing well in terms of processing it into finished products which is exactly the vision of the Cocoa Processing Company (CPC). The CPC currently has a storage capacity of 5,000mt which is 2.5percent of what the...
(Ghana Web 08/08/17)
Ghana Economic Forum 2017 has seen the banking sector express interest in seeing government’s drive to create jobs in the private sector become a reality. The Forum, which brings on board industry players and banking experts, also saw government engage the private sector on practicable ways of meeting its macro economic targets by the end of the year. Senior minister, Yaw Osafo Maafo said the government is intensifying its strategy to make the private sector more competitive to ensure the creation of jobs. Chief Executive Officer of the B&FT, Edith Dankwa said, “Ghana is one of the world’s most attractive investment destinations after more than a decade of substantial economic progress.” She said, “The country is endowed with a new...
(Ghana Web 08/08/17)
As many as 72 unregistered drugs were imported into Ghana without prior approval of the Foods and Drugs Authority (FDA), according to The 2012 Auditor-General’s report. Among the unregistered medicines which got unto the Ghanaian market between 2012 and 2013 per the Auditor General’s report are popular malaria drug Coartem and de-wormer Zentel. In all, some 72 unregistered drugs were imported during that period. The A-G's report also revealed that seven drugs were brought into the country “before the importers applied for permit from the FDA”. Others unregistered drugs include Tres-Orix, Procold, Lofnac-50 tablet, Atenolol, Lofnac Eyedrops and Quine Syrup among others. Appearing before the Public Accounts Committee (PAC) of Parliament on Monday, August 07, 2017, the CEO of the...
(Citifmonline 08/08/17)
The Governor of the Bank of Ghana(BoG), Dr. Ernest Addison has stated that the central bank will strictly implement the new capital requirement for banks in the country. According to him, the bank will depart from the practice where the new capital requirement is just announced and banks are left not to meet it. The Bank of Ghana will soon increase the minimum capital requirement of banks from the current 120 million cedis to what some industry watchers predict will be around 250 million cedis. Some observers have urged the central bank to use the exercise to force mergers. But speaking on day two of the Ghana Economic Forum organized by the B&FT, Dr. Addison maintained that the central bank...
(Los Angeles Times 08/08/17)
When the machines arrived last winter, the villagers were mesmerized. In Zamashegu, a farming community of 1,000 people in northern Ghana, they may as well have come from outer space — four electric slot machines installed in two roadside shacks, chirping and clattering, bathing the packed-dirt walls in a pale, kaleidoscopic glow. Their lure was magnetic. Soon, villagers stopped farming, leaving their yam and cassava fields fallow. Children stayed home from school. Instead, they’d queue up at the slots and play all day, until their pockets were empty or the village ran out of change altogether. About twice a week, a Chinese man would arrive in a pickup truck. He would unlock the machines, hand some cash to the shacks’...
(Reuters (Eng) 08/08/17)
Tuesday's action at the World Athletics Championships sees two of the most intriguing races of the program as South Africa's Wayde van Niekerk bids for the first half of his 400/200 meters double and Nigel Amos goes for gold in the men's 800m. World record holder and defending champion Van Niekerk should be unbeatable in the 400m but faces a stiff challenge, not least from Botswanan duo Isaac Makwala and Thebe Baboloki. Another Botswanan, Amos, will also have to be at his best in the 800m, where a clutch of athletes are suddenly dreaming of glory in the absence of Kenya's injured champion David Rudisha. Kenya is expected to continue its dominance of the men's 3,000m steeplechase - though American...
(Bloomberg 08/04/17)
Ghana has recorded its biggest cocoa harvest in six years, according to two people familiar with the matter, after favorable weather conditions boosted output in the world’s second-biggest grower. Graded and sealed deliveries since the beginning of the season in October reached 909,493 metric tons by July 27, said the people, who asked not to be named because the information isn’t public. That is the biggest since the 1,012,839 ton harvest for the whole of the 2010-11 season and compares with 778,043 tons produced in the 2015-16 crop, when severe desert winds damaged crops and affected rainfall. Certified purchases for the first seven weeks of the so-called light crop, the smaller of the two annual harvests which started June 8,...
(Voice of America 08/04/17)
Father Carlo Ladicicco, a 65-year-old Catholic priest could be enjoying retirement after 35-years as a missionary in a remote region of Peru. Instead he is using his pension to subsidize his pastoral outreach to some of the poorest and most exploited African migrants in Italy — just a 40 minute drive from his birthplace in the country’s southern region of Campania. Sitting in his cramped, sparsely furnished rented bungalow decorated with keepsakes from his decades in the Peruvian jungle, the bustling silver-haired priest with an easy laugh says, “The mission is the same. Here is where I can really help.” “Here” is Castel Volturno, one of Italy’s most infamous municipalities, once earmarked by the Camorra, the main Mafia syndicate of...
(Ghana Web 08/04/17)
Ghana has the capacity and resources to produce rice for consumption and export, the President of the African Development Bank (AfDB), Mr Akinwumi Adesina, has said. “It, therefore, has no business importing rice to the value of $400 million annually. “Ghana absolutely has no business at all importing rice. You are spending US$400 million a year importing what you should be exporting,” he said. Addressing a dinner organised for him by the Ministry of Finance in Accra, Mr Adesina pledged the AfDB’s support to Ghana in the area of rice production. The dinner was attended by the Vice-President, Alhaji Dr Mahamudu Bawumia; the Governor of the Bank of Ghana, Dr Ernest Addison, and key government functionaries. Mr Adesina is on...
(Ghana Web 08/04/17)
The Ghana Investment Promotion Centre (GIPC) has embarked on processes to adjust Ghana’s tax exemption rules to meet the peculiar needs of investors to Ghana. In this regard, the Centre has commenced discussions with the business community to address all concerns with the new tax exemption rules. The meeting has also become apparent following concerns by investors over difficulties in reclaiming their due exemptions from the Finance Ministry and the Ghana Revenue Authority (GRA). Contrary to the outright exemption for investors by the former NDC government, the NPP government seeks that investors pay upfront, all such taxes and apply for a refund subsequently. But the businesses have complained about the delays which they argue has been adversely affecting their work...
(Xinhuanet 08/04/17)
The Vice-President of Ghana, Mahamudu Bawumia, has said the government was working around the clock to raise the country’s port operations to international standards. He said that after broad consultations with relevant stakeholders, a number of measures was set to be introduced at Ghana’s ports to improve efficiency and make them more user-friendly. According to him, the government’s goal within the next six months is to have a robust risk engine which will grant customs clearance in a maximum of four hours. “Dubai customs is able to grant customs clearance in one-and-a-half seconds and so Ghana can definitely aim for four hours instead of the current system of days and weeks,” he told stakeholders in a meeting on Wednesday at...
(Citifmonline 08/04/17)
The government has discounted suggestions that the country faces imminent threats of terrorism. This comes after some members of the public expressed anxiety over security alerts and notices shared by some Embassies and High Commissions in the country. The Canadian Embassy in its security alert to its citizens visiting Ghana said that, “there is a threat of terrorism. Terrorist targets could include shopping malls, government buildings, public areas such as bars, restaurants, hotels and sites frequented by Westerners. Be aware of your surroundings in public places.” On other crimes, it said, “pick-pocketing, purse snatching and attacks by individuals on motorbikes are increasing in Accra and its surroundings, including areas around the High Commission of Canada. Violent crimes have also increased,...
(Reuters (Eng) 08/04/17)
Ghana's cash-strapped Cocoa Processing Company (CPC) is seeking at least $300 million to repay debt and to buy beans upfront to feed the 64,500-tonne plant, its managing director told Reuters on Thursday. CPC, noted for its flagship 'Golden Tree' brand, is currently operating at under 20 percent of its throughput due to lack of funds to purchase beans for grinding, Frank Asante said. "It's all because of our weak financial situation... the fact that we are not able to provide the necessary guarantees to buy our own beans," Asante said. The company relies on cheaper light crop beans from state-owned industry regulator Cocobod which it grinds into chocolate, liquor, butter and cake for export and local consumption. "We are seeking...
(Graphic Online 08/04/17)
MTN Ghana's subscriber base reduced by 10.3% to 17.3 million for the first half of the year. The drop represents a loss of 1.9 million of its subscribers. This was contained in the interim financial results released yesterday by the MTN Group for the six months ended June 30, 2017. According to the telecom company, it lost more subscribers in Nigeria, with a drop of 14.3 percent to a current 53.1 million subscriber base. However, subscribers in South Africa increased by 1.5 percent to 31.2 million. "MTN Ghana continued to benefit from an improving economy. MTN Ghana’s subscriber base declined by 10,3% to 17.3 million, impacted by the internal review of subscriber definitions," the results stated. MTN Ghana recorded strong...

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