New Border Post at Dakola in Burkina Faso
EC Economic Partnership Agreement
Partnership between EU and ECOWAS is ideal
Salt producers demand easier access to iodine
Find quick solutions to trade disputes
HFC to pay 48 cedis per dividend to its shareholders
New Border Post at Dakola in Burkina Faso
Dakola
(Burkina Faso) 25 April 2003-Mahami Salifu, Upper East Regional Minister, on
Thursday urged governments in the West African Sub-Region to create structures
that would facilitate trade, promote goodwill and simplify transit procedures
between neighbouring states.
This
would bring to fruition the ideals of the ECOWAS Protocol as well as enhance
the economic well being of countries in the Sub-Region. Salifu, who led an
eight-member Ghanaian delegation, was delivering a speech at the formal opening
of a new border post at Dakola in the Nahouri Province of neighbouring Burkina
Faso.
The post
was originally located at Po, about 12 kilometres from the Paga border but the
Burkinabe authorities moved it to Dakola, a distance of about three kilometres
from the Ghana side of the frontier at Paga. "The opening of this new
frontier between Ghana and Burkina Faso presents us with another opportunity to
revisit the ideals that brought the leaders and peoples of our Sub-Region
together under ECOWAS," the Regional Minister declared.
He said
the Government of Ghana was committed to the promotion of bilateral
co-operation as enshrined in the ECOWAS Treaty and the achievement of regional
integration. This commitment he said was manifested by the government's Gateway
Project as well as the recent introduction of the Ghana Community Network
(GCNET) and the Ghana Customs Management System, he said.
Salifu
announced that the Customs, Excise and Preventive Service (CEPS) station at
Paga had been designated as one of the frontiers where the GCNET system would
be installed. He called on communities residing along the borders to regard
themselves as the same people separated only by artificial boundaries, and
stressed the need for governments to concretise the mutual and symbiotic
relations between such communities by providing social and economic amenities
that would strengthen good relations.
Making
reference to allegations of extortion and harassment of foreign nationals in
transit, the Regional Minister told officials at both sides of the border that
they held the key to the realisation of the ideals of ECOWAS. He warned that
any Ghanaian border official caught involved in such negative acts would be
dealt with drastically.
Jean-Baptiste
Campaore, Burkina Faso Minister of Finance and Budget, later explained to
newsmen that the increasing volume of trade between Ghana and Burkina Faso
necessitated the relocation of the clearance point at Dakola, near Paga.
"Compared
to the previous one at Po, the Dakola post has more modern clearance
facilities, with a larger car park capable of holding more vehicles at a
time", he said. Campaore referred to Ghana-Burkina Faso collaboration in
recent times as a good example for other neighbouring countries and expressed
the determination of the Burkinabe Government to join hands with its Ghanaian
counterpart to fight cross-border crime.
Earlier
in a welcoming address, the Haute Commissaire or Regional Commissioner of the
Nahouri Province, Mr Habie Adama said the relocation of the post closer to the
Paga Border was another manifestation of his government's confidence in the
Ghana-Burkina bilateral relations. He expressed the hope that the new port
would benefit the people of the two countries and conveyed his Government's
gratitude to the Government of Ghana for the assistance extended to Burkina
Faso returnees being evacuated from Cote d'Ivoire.
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EC Economic Partnership Agreement
Accra
(Greater Accra) 25 April 2003- ECOWAS and the European Commission on Thursday
emphasized the need for the two parties to see their Economic Partnership Agreement
(EPA) as an instrument of development to create a viable regional market as a
necessary step to facilitate the integration of the region into the global
economy.
They
agreed that the negotiations of the EPA should take into account the region's
developmental priorities to ensure its sustainable development and contribute
to the eradication of poverty. Briefing journalists at the end of the three-day
meeting, Dr Kofi Apraku, Minister of Regional Cooperation and NEPAD said the
meeting provided a forum for exchange of ideas on Phase I as well as serve as
preparations for the launching of Phase II in September this year.
He said
the meeting decided that both phases of the agreement would run concurrently
and that the two parties should take the necessary measures to ensure its
implementation from 1 January 2008. High on the agenda was also how the EU
could support ECOWAS member countries to become competitive both in the field
of agriculture and industry so as to take advantage of the EU market.
Dr
Apraku said the meeting also recalled the objective to establish an economic
Union in West Africa to improve the living conditions of its people maintain
and enhance economic stability and strengthen existing relationship among
member countries.
Pascal
Lamy, Commissioner in charge of Trade at the European Commission, said the EPA
should be seen as a real attempt by the EU to improve real market access to
countries within the region. The European Commission, he said, was ready to
provide technical and financial assistance to support countries to be ready
before the agreement comes into force.
The
ECOWAS Secretariat, the UEMOA Commission and the Minister of Trade and Finance
of the ECOWAS member states represented the West African Region while Pascal
Lamy stood in for the European Commission.
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Partnership between EU and ECOWAS is ideal
Accra
(Greater Accra) 25 April 2003- ECOWAS Chairman, President John Agyekum Kufuor
on Thursday said the partnership between the European Union (EU) and the
Economic Community of West African States (ECOWAS)has provided a good
opportunity for West African States to modernize their economies and become
competitive in the global market.
He said
the West African States were organising themselves under ECOWAS to provide a
common market to enhance their total development, trading competence and afford
them a stronger voice in the world. President Kufuor was proposing the toast at
a dinner held at the Banquet Hall, State House in Accra, for participants
attending the three-day first EU-ECOWAS Ministerial meeting on the negotiation
of an Economic Partnership Agreement (EPA).
The
meeting, attended by Ministers of Trade and Finance from 13 ECOWAS member
states, was aimed at negotiating a dynamic and mutually beneficial economic
partnership with the EC. The ECOWAS Chairman said the Sub-Region, had been
watching the remarkable progress made by Europe in forging a unified front in
many areas to strengthen their already very strong position in the world.
"With
the Euro becoming a common currency in Europe, we in West Africa would realise
our dream with a common currency through strenuous efforts," he added.
President Kufuor urged both parties in the negotiations for the EPA to be
guided by the years of history behind them and the common vision of the global
village to realise their objectives.
He
commended the participants for reaching an agreement that would be beneficial
to the Sub-Region, adding "it is a good opportunity to negotiate an accord
that can serve as an idea that could be used in our dealings with other trading
blocs."
Pascal
Lamy, EU Commissioner on Trade, replying to the toast, said the agreement on
negotiations reached at the meeting would be implemented for their mutual
benefit. He said both parties listened to each other and made compromises on
the valid points that would be handled well in future negotiations. Lamy
pledged the EU's support to foster regional integration in the Sub-Region.
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Salt producers demand easier access to iodine
Apam
(Central Region) 25 April 2003- Salt producers at Apam in the Central Region
have appealed to the government to make iodine more accessible to enable them
treat their produce to protect the public against goitre and other iodine
deficiency disorders (IDD).
They
said the scarcity and the high cost of the chemical was thwarting their efforts
to add value to their produce. Martin Ekwam, Chairman of the Interim Management
Committee (IMC) of the Apam Salt Industry who made the appeal on behalf of his
colleagues at Apam said a small container of the chemical was being sold at 5.5
million cedis, which many of the salt producers could not afford.
He said
although salt iodation was introduced
in the country in 1995 only few producers could process their salt as
directed by the World Health Organization (WHO). 'We appeal to the government
to subsidize the cost of iodine as a measure to protect the health of the
people," HE SAID
On the
IMC's development programme for the industry, Ekwam said efforts were being
made to access funds the government had made available to promote the
president's special initiative PSI on salt to enable it embark on the
rehabilitation and expansion of the industry.
Ekwam
expressed the hope that with financial support and prudent management of
resources the industry would play a major role in accelerating the pace of the
development of the town.
He,
however, expressed concern about interference in the administration of the
industry by some members of the Asafo companies and certain personalities who
wanted to make the place their gold mines. In another development citizens of
Apam have decided to form a board of directors to supervise income generating
ventures in the town including the salt industry, sale of plots of land and
tolls from the beach and harness them for the development of the town.
The nine
member board would have representations of the chief, the Tufuhene, Asafo
Number One, and Number Two groups, the Town Council, Accra branch of Apam
Citizens Association, Apam Youth and Development Association, Kumasi and Tema
branches of Apam Korye Kuw.
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Find quick solutions to trade disputes
Accra
(Greater Accra) 25 April 2003- West Africa says it is optimistic that quick and
effective resolutions would be found to worrying trade disputes with its
European partners immediately to ensure mutual benefits to all parties under
the Cotonou Agreement.
It has,
therefore, backed the adoption of a homegrown philosophy and strategy for
economic development that gives Africans hope that they are, at least, ready to
take their own destiny into their own hands and determine their pace of
development.
Dr Kofi
Konadu Apraku, Minister of Regional Cooperation and NewPartnership for Africa
Development (NEPAD), said these at the opening of the first-ever West
Africa-European Union Ministerial Meeting in Accra on Thursday.
He
observed that disputes were a necessary part of any commercial arrangement to
which a solution ought to be found soon. He welcomed NEPAD saying, that it was
Africa's response to the challenges of globalisation.
"We
face increasing marginalisation in the global market where our major exports
face downward spiral in prices determined by external forces. This must stop
and we can do that through appropriate and effective negotiations with
development partners," Dr Apraku said.
He said
the Sub-Region faced a huge burden of globalisation under the World Trade
Organization (WTO) and the challenge of improving trading arrangements,
especially with the EU, the Sub-Region's major trading partner. Dr Apraku, who
is the outgoing Minister of Trade and Industry, noted that development finance
remained one of the topmost items on the meeting's agenda, and urged
participants to give it attention "because of its wide implications."
He said
the 13 participating ECOWAS countries had put together a draft report for the
attention of the meeting, which he said ought to be addressed adequately. The
draft report included status of regional integration in West Africa, the Doha
Development Agenda and its links with the EPA and development financing.
Pascal
Lamy, EU Trade Commissioner, described the meeting as important since it would
enable both parties to have a better understanding towards the achievement of
the common objective of promoting development across the world.
He gave
the assurance to ECOWAS countries of the EU's candid response to the
establishment of a free market access area with various shades of preferential
treatment under the Cotonou Agreement.
Lamy said the EU was working towards convincing G8 members outside the
EU to take another look at their agricultural polices, "in view of West
Africa's peculiar situation. "We are also interested in the issue of
tariffs and pricing situation." President John Agyekum Kufuor, current
Chairman of ECOWAS, opened the meeting.
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HFC to pay 48 cedis per dividend to its shareholders
Accra
(Greater Accra) 25 April 2003- The Home Finance Company (HFC) Limited on
Thursday announced a profit after tax of 8.8 billion cedis for 2002 and 48
cedis per share as dividend to shareholders. Kwadwo Duku, Chairman of the Board
of Directors, said at the company's Annual General Meeting (AGM) that the
profit is 16.1 per cent up on 2001. It paid 45 cedis as dividend in that year.
Directors
and shareholders have also approved the payment of 6,000 dollars per annum to
the Chairman of the Board of Directors and 4,800 dollars per annum to the
Directors due to increased responsibilities.
Duku
said the mortgage portfolio, which had been the lifeblood of the company,
increased from 186.5 billion in 2001 to 197.9 billion in 2002 while total assets
increased from 274.7 billion cedis in 2001 to 349.8 billion cedis last year. He
said this profit margin had made it possible to increase the dividend.
Duku
said given the context of the global economy and the challenges faced
internally, the Ghanaian economy achieved a modest level of stability in 2002
with Gross Domestic Product (GDP) growth of 4.5 per cent. He said the
management team of HFC continued to be strong adding that the staff would
continue to undergo professional training programmes in preparation for the
challenging business opportunities ahead.
Mrs
Stephanie Baeta-Ansah, Managing Director of HFC, said from a business base of
home loans, HFC is proud to have become a strong financial services company
geared to provide efficient service at competitive prices to individuals as
well as corporate bodies. She said
commercial loans in line with the commercial mortgage business mentioned to
shareholders at last year's AGM, would provide the needed diversification in an
environment where house prices denominated in US dollars were still
unaffordable to most resident Ghanaians, due to low incomes.
Mrs
Baeta-Ansah said the company's customer deposits increased from 15.9 billion
cedis to 33.5 billion cedis with an exceptional income of 436.7 million cedis
being realized from the sale of a residential property at East Airport. She
said the Union Bank of Nigeria (UBN), formerly Barclays Bank, has expressed
interest to purchase the entire 20 million new shares approved by shareholders.
"At
the same time management continues to seek other investors in its equity and
debt instruments," Mrs. Baeta added. A statement from the company said the
UBN had acquired 20 per cent shareholding in the company resulting in an
increase to over 76.5 billion cedis of the shareholders' fund. It said the UBN
was one of the largest banks in Nigeria with 270 branches.
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