GRi BEF News Ghana 06 - 07 - 2001
Barclays Bank launches US Dollar Visa Gold Card
Energy Foundation calls for tax to discourage importation of old vehicles
US firm to help boost Ghana's poultry industry
Accra (Greater Accra) 06 July 2001
The Deputy Governor of the Bank of Ghana, Mr Vanlare Dosoo on Thursday said the government's desire to achieve macro-economic stability and its avowed declaration of a new era of business place a huge responsibility on banks to develop innovative products to help the business community.
Speaking at the launch of Barclays Bank US dollar Visa Gold Card in Accra, Mr Dosoo said fundamental changes in the banking sector worldwide require that banks become more customer-focused in order to meet the complex demands of a more sophisticated clientele and also stay in competition.
The Gold Card is a dollar denominated charge card that is acceptable the world over and offers the business community and individuals a convenient means to pay for their transactions while outside the country. It is a collaborative effort between Barclays Ghana and Barclaycard of the United Kingdom.
The Deputy Governor underscored the Central Bank's desire to move from a cash-based economy to the use of plastic cards and cheques, saying this would not only help to reduce the amount of money in circulation but also save money used in the printing of the notes.
The Managing Director of Barclays Bank, Mr Kobina Quansah said it is the bank's vision to use its expertise to deliver more customer-focused products.
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Accra (Greater Accra) 06 July 2001
Mr Ernest Asare, Director of Marketing and Communication at the Energy Foundation, on Thursday called for a tax structure that would discriminate against the importation of old vehicles to ensure energy efficiency.
He said the current block formulae for the calculation of import duties favour the importation of vehicles that are eight to 10 years old and which are noted for their high consumption of petroleum products.
"We need a tax that would rather favour new cars in terms of import duties and price incentives to encourage prospective buyers to purchase new cars.
Mr Asare, who was speaking at a day's seminar on climate change and socio-economic impacts, said import duties must be based on fuel efficiency and age of vehicles instead of engine capacity.
The transport sector alone, he said, accounts for the consumption of over 63 per cent of petroleum products imported into the country and is growing at about six per cent annum.
"Analysis of a random sample of 15,000 vehicles registered in 1995 and 1996 shows that 96.1 per cent of all the vehicles in the study were used when they were first registered."
Out of this, over 60 per cent were at least 10 years old when they were first registered in Ghana.
Mr Asare also suggested the restructuring of the Vehicles Examination and Licensing Division (VELD) of the Ministry of Transport to focus on monitoring and enforcing of regulations while the private garages would be responsible to ensure that vehicles are actually roadworthy before they are issued with certificates by VELD.
The seminar was organised by the Green Earth Organisation (GEO), an NGO for partners in the environmental sector.
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Winneba (Central Region) 06 July 2001
A United States-based firm, Missouri Food and Fiber Incorporated, is to supply Gyatekrom Feedmills Company, near Winneba, 6,000 metric tonnes of yellow corn to help promote its poultry industry.
The two companies have already signed an agreement to this effect and the first consignment of the grain is expected to arrive soon in the country.
Mr John K. Donkor-Quaye, Managing Director of Gyatekrom Feedmills Limited, made this known at an emergency meeting of the executive of the Central Regional Secretariat of the Ghana Poultry Farmers Association on Wednesday to discuss issues hindering the development of the poultry industry.
Mr Donkor Quaye said the move is his company's modest contribution towards the socio-economic development of the nation.
The company, which was established in 1991 purely for the production of birds, entered into the feed-milling business six years ago.
Mr Donkor-Quaye advised poultry producers all over the country wishing to buy some of the yellow corn to register with the firm to enable them to obtain supply at a reasonable price.
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Accra (Greater Accra) 06 July 2001
The Ghana Textiles Manufacturing Company (GTMC) which was closed in November last year is to reopen on Wednesday, July 11, according to a joint a communiqué issued by the joint negotiating team to resolve the long-running industrial action at the Tema-based factory.
It said, however, that only the Printing Department and some workers of the support service would start work.
The communiqué was issued on Thursday during the presentation of report by a Special Tripartite Committee set up on the industrial dispute between management and workers of Ghana Textile Manufacturing Company (GTMC).
After several joint interventions by the Ministry and the Ghana Employers' Association, the Trades Union Congress, Ghana Federation of Labour, Management of GTMC and workers' representatives, a special Tripartite Committee was set up to work out modalities for the re-opening of the factory.
The communiqué urged management to consider re-engaging staff from the ranks of the redundant workers whenever they decide to re-open the weaving and spinning departments.
The communiqué said in part that a severance package and payment terms have been agreed for the 699 workers who would be declared redundant.
All parties would sign a Memorandum of Understanding detailing the mode of payment.
GTMC was closed down on November 28, 2000 following an industrial action by the workers.
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