GRi Business, Economics & Finance 29 –
01 - 2003
Currency Buying Selling
U.S. Dollar 8,335.00 cedis 8,556.00 cedis
Pound
Swiss Franc 6,133.25 6,292.14
Canadian Dollar 5,435.09 5,594.84
Danish Kroner 1,211.09
1,242.64
Japanese Yen 70.16 71.99
South African
Euro 9,007.68 9,240.16
CFA Franc 13.73 14.09
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Accra (Greater Accra) 29 January
2003- Ghana is to adopt strategies aimed at deepening and increasing the share
of her export market within countries in the Economic Community of West Africa
States (ECOWAS) regional bloc, the European Union (EU) and the United States
(US) to boost export revenue.
As part of measures line-up for
penetrating into the regional export market, the country will embark on an
aggressive marketing and exhibition of made-in
Dr Kofi Konadu Aparaku, Minister of Trade, who announced this, said the
promotional activities when carried out would generate $10m in export orders
and create employment for about 1,500 people in a year.
It would also enhance the
country's share of the ECOWAS market from the current level of 28 percent to 32
percent. The Minister was addressing exporters at the launch of the Enhanced
Export School Programme for 2003. The programme, which is the brainchild of the
Ghana Export Promotion Council (GEPC), is designed to equip export companies,
facilitating agencies and businesses to take advantage of the emerging opportunities
in international trade and to enhance their capacities to meet challenges at
the market place.
Dr Apraku
said through similar programmes in the area of garment, textiles and
handicrafts, especially the unhindered access offered to the American market
through the African Growth and Opportunity Act (AGOA), will increase the
country's quota to the North American markets to 15 per cent from the level of
nine percent.
"Our plan to complete five
handicrafts villages by mid 2003 will give this the necessary boost," the
Minister said and added that about four million dollars in revenue is expected
from handicraft exports alone in the year.
Dr Apraku
underscored the importance of the export sector in the drive to transform the
country's economy, adding, however, that any such changes would only be
achieved when exporters learn to do things differently, improve their
efficiency and get developed.
"What this means in simple
terms is that we must produce in requisite quality and volume so that we can meet
the requirements of the rest of the world." Dr Apraku,
therefore, urged exporters to take advantage of the programmes being offered at
the school to enhance their skills in order to meet the challenges of
competition, technical requirements and quality standards in the global market.
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Accra (Greater Accra) 29 January
2003- Even though there is no formula for effective development, visionary and
cohesive leadership, ownership of development agenda and effective partnerships
are critical factors to growth and better livelihood, a UN official said in
Accra on Tuesday.
Abdulai Janneh,
United Nations Assistant Secretary-General for Africa said he was happy that
emerging African leaders were beginning to assume strong positions, developing
institutions, social capital and sound polices that would help transform their
countries into dynamic states capable of meeting the trends of development.
He was speaking at the opening
of a brain storming session – Regional Consultation on Development
Effectiveness - between representatives of donor partners, civil society, and
development and evaluation experts from all over the continent.
He said reality was more complex
since development was a long and slow process of transformation and change, a
social phenomenon that involved more than increasing per capita output,
eliminating poverty, unemployment and inequality.
Janneh noted that leaders and
stakeholders must examine how collectively they could ensure that national
development strategies and the international development architecture and
cooperation framework were geared towards optimal implementation.
"They must also look at how
we can set up relevant indicators that would not only serve as a yardstick in
allocating development resources and forging development partnerships," Janneh added.
He however, regretted that
development on the continent was not accurately reflected in statistics in
national accounts and it was not possible to monitor progress, noting that,
external economic circumstances are beyond the control of developing countries.
Janneh called on nations to work as
owning their own national development agenda, describing NEPAD as a step in the
right direction that must be supported by all. He said the process of owning
development started by increasing and securing national savings, adding that
experience in Asian countries and successful African countries showed that
"when the right policies are adopted and persevering efforts are made, low
per capita income is not an obstacle to raising the level of saving."
He said the crux of the matter
was to channel a growing proportion of the increase in income to saving and
decreasing proportion of that increase to consumption. Janneh
said economies operating at lower levels of potential needed a big push to set
them in motion of sustainable development process.
"
"These are shown in the
internal processes often led by government with input from civil society",
He said in
Albert Salia
Fawundu, UNDP representative in
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He said the VMS would help
prevent conflict between fishermen and vessel owners thereby bringing sanity
into the fishing industry. Ashitey was speaking at
the second Central Region fishermen awards day at
Kwesi Acquah, from Komenda, who was adjudged the best fisherman, was presented
with a bale of fishing net and other award winners also received fishing nets. Ashitey repeated government's determination to improve
marine fishing but said this could be possible if fishermen avoided petty
squabbles and remained united.
He said the ministry's new
procedure for eliminating unscrupulous persons from the supply of premix fuel
would soon be made public. Ashitey said the Ministry
of Food and Agriculture had started negotiations with some local banks to
procure outboard motors and fishing nets for fishermen at affordable prices.
Isaac Edumadze, Central Regional
Minister, said the government had intended to supply 1,000 outboard motors to
fishermen throughout the country on credit this year and said his office would
ensure fair distribution of the region's allocation.
He however, appealed, to
fishermen who might acquire the inputs to promptly pay for them to enable
others to benefit. Edumadze said a profit of 207 million cedis was made from
the sale of premix fuel last year as against 100 million cedis realised the
previous year.
He said 131 million cedis out of
last year's amount were disbursed to fishing communities for the provision of
toilets, streetlights and clinics among other facilities.
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