GRi Business, Economics & Finance 17 – 03 - 2003

Ghana's expertise in exhibition management lauded

ECOWAS leaders called upon Nigeria

ECOWAS Fair ECOMARINE

Agricultural Bank commended for assisting farmers

Cocoa farmers urged to retain premium quality

4bn cubic metres of timber lost through bushfires

 

 

Ghana's expertise in exhibition management lauded

 

Lome (Togo) 17 March 2003- Ghana has been invited to hold a Trade Fair in Cotonou, Benin later in the year due to Ghana's expertise in exhibition management and a variety of products exhibited at the 10-day Third ECOWAS Trade Fair in Lome, Togo.

 

Maxwell Osei Kusi, a Senior Export Development Officer of the Ghana Export Promotion Council (GEPC) told the Ghana News Agency (GNA) last Friday in Lome. He said officials from Benin, which is also taking part in the fair, were 'impressed with Ghana's exhibition management and variety of products exhibited and, therefore, asked Ghana to hold the fair in that country to stimulate Benin's manufacturing and marketing sectors.

 

Kusi is leading a team of officials of the GEPC to assess and interact with Ghanaian exhibitors at the fair. He said GEPC, is mandated to organise national and international trade development and promotion activities including trade Fairs, exhibitions to enhance trade and production in Ghana.

 

He said GEPC was to provide manufacturers and traders with opportunities for international exposure and interact with entrepreneurs in other countries. Kusi said apart from being at the Togo Fair to find out whether Ghanaian exhibitors had won any contracts, orders, and demands, the Council also assess the performance of other countries to enable it to plan strategies for Ghana to expand its influence in the ECOWAS market.

 

The Export Development Expert said the team was also to find out from Ghanaian exhibitors, barriers, especially at the border that had to be eliminated to facilitate intra-ECOWAS trade.

 

He expressed concern about the long delays at borders in West Africa as a result of repeated checks of goods among others, which inhibits the free flow of goods and people under the ECOWAS Trade Liberalisation Scheme (ETLS).

 

Kusi called for the education of traders and businessmen in the sub-region to be abreast with customs procedures to facilitate commerce in the sub-region. Kingsley Essel, an Export Development Officer said contrary to the ECOWAS position of the free movement of people, goods and services, there were grievances which must be assessed and redressed to fast-track West African economic and trade integration.

 

Essel said 'delays at the borders made trade and business slow, expensive and unrewarding' and expressed the hope that the bottlenecks would be removed to propel industrialisation, create employment and reduce poverty in the sub-region. The team described the fair as beneficial and an impetus to trade in the ECOWAS zone.

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ECOWAS leaders called upon Nigeria

 

Lome (Togo) 17 March 2003- Nigeria has called on leaders of ECOWAS states to be more committed and responsive to the ideals of the sub-regional body to leave a lasting legacy for the younger generation.

 

This was stated by Chief Precious O. Ngelale, Minister of Commerce of Nigeria at the close of Nigeria's Day at the Third ECOWAS Trade Fair, in Lome, Togo. He noted that trade events at the Lome fair would give a further boost to the efforts of regional integration of the ECOWAS.

 

In an address read on his behalf, Chief Ngelale said, Nigeria acknowledged the effort towards the establishment of a free-trade area and an eventual Common Market. He expressed the hope that in the not too distant future, obstacles being experienced in the implementation of all ECOWAS treaties would be a thing of the past when programmes in that direction take off fully.

 

The Minister said Nigeria attached great importance to the fair since it serves as an avenue to showcase the variety of products available in the sub-region. He commended President Gnassingbe Eyadema for hosting the fair and the hospitality of the people of Togo, saying these were the ingredients required towards the full integration of the Community.

 

Rasheed Adegbenro, Chairman of the Manufacturers Association of Nigeria (MAN) pointed out that with a population of about 120m, Nigeria has become the largest market in the sub-Saharan Africa.

 

He said the mixed economies of the country had room for all investors in the private as well as the public sector. Adegbenro said since 1995, the Nigerian government under President Olusegun Obasanjo introduced measures, which have a positive impact on the economy.

 

The thrust of the measures, he said are to insulate private sector participation and to attract direct foreign investment. He said in support of this mission, the Nigerian Enterprises Promotion Act, which regulated the extent and limits of foreign participation in the economy were repealed and the Public Enterprises Promotion and Commercialisation decree enacted in 1998.

 

Adegbenro said the new law allowed private sector investors, including non-Nigerians to participate in and compete with government owned organisations in Tele-communications, Electricity generation, petroleum exploration, export refineries, coal and bitumen exploration among others.

 

He also mentioned the law establishing the Nigerian Investment Promotion Commission (NIPC) regulating foreign investment in Nigeria. Adegbenro said for the purpose of promoting identified strategic investment the NIPC might in consultation with appropriate agencies negotiate specific incentive packages for the promotion of investment.

 

A total of 67 companies producing manufactured products ranging from textiles and apparels, pharmaceuticals, body care products, building materials, food and beverages, leather and handicraft are participating in the fair.

 

Research institutions and organised private sector organisations such MAN, Fashion Designers Association of Nigeria (FADAN) and the National Association of Women Entrepreneurs (NAWE) also participated in the day, which was climaxed with a flag raising ceremony.

 

Present were Adebayo Yusuf, Nigerian Ambassador to Togo, Kofi Mensah Bonsu, Ghana’s Ambassador to Togo, officials of ECOWAS Secretariat and Nigerian officials.

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ECOWAS Fair ECOMARINE

 

Lome (Togo) 17 March 2003- ECOMARINE, a Consortium of West and Central Africa Maritime Transport Providers (WCAMTP) committed to intra-regional trade integration and over-all regional economic development would start sailing schedules in May this year.

 

This was announced by Alhaji Bananga Tukur, President of ECOMARINE at the third ECOWAS Trade Fair in Lome-Togo on Friday. He said the consortium with its head office in Lome was formed to find a solution to the excessive airfares, long waiting times at the airports and frequent flight cancellations in the West Africa sub-region.

 

It would also try to solve the problem of deteriorating road conditions, cumbersome Customs procedures, police and immigration check points on routes and to reverse poor performance of Africa railway networks due to archaic technology of tracks and rolling stocks, mismanagement and loss making.

 

According to Alhaji Tukur, ECOMARINE also fills the gap created by the demise of national carriers formerly run by the public sector and to help in finding an answer to the noticeable absence of a dedicated feeder service in the sub-region.

 

He said ECOMARINE, which is an initiative of ECOWAS undertaken by the private sector has other investors including institutional and private individuals as a response to the absence of a dedicated coastal shipping service to provide an integrated maritime-based solution to the transportation problem of West Africa.

 

"It is the determination of the group to make maritime transport the natural choice in the movement of goods and people in the region by providing a customer driven world class shipping," he said.

 

The ECOMARINE President said the consortium would provide feeder services to deep-sea lines, reliable coastal shipping and regular passenger services from Dakar-Senegal to Luanda in Angola.

 

He said ECOMARINE facilitates infrastructure development and ancillary services through the construction of inland dry ports, identification of strategic load centre ports, construction of automatic trans-shipment platforms for feeder services in Lome and offer stevedoring services through the West Africa sub-region.

 

Professor Bigoulare Nadjedjo of the University of Lome said the group enjoys the support of regional and multinational institutions and had been granted national carrier status by ECOWAS.

 

He said it was also advocating for a regional Cabatage law, coastguard network and a maritime fund for the sub-region. The group would also enjoy special concessions priority berthing rights and was arranging for a political risk insurance of up to 90 percent of cross-border investment of $200m for a period up to 15 years against non-commercial risks.

 

The host country Togo had signed a headquarters agreement with the group and granted privileges including tax concessions, freedom to repatriate profits and dividends tax-free and was favourably considering stevedoring licence.

 

Ferdinard Assogba Dognon, Director-General of the Cotonou Port said investors would benefit from a premium investment opportunity, pride of place in pioneering a regional group, tax concessions and freedom to repatriate profits and dividends tax-free.

 

They would also benefit from increased markets, production and profits, reduced transport ports and access to deep-sea lines to enhance their businesses. He said efforts of ECOMARINE to mobilise capital was at an advanced stage and had appointed an European General agent, Regional Liner agents and was negotiating with deep sea Liners serving the region for sailing schedules.

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Agricultural Bank commended for assisting farmers

 

Accra (Greater Accra) 17 March 2003- The First Lady, Mrs Theresa Kufuor has commended the Agricultural Development Bank (ADB) for its continued support for the agricultural sector since the inception of the bank 27 years ago.

 

She noted that many major banks shied away from the sector because of the high risk involved thus leaving the sector limping despite its enormous contribution to the growth of the economy.

 

This was contained in a speech read on her behalf by Ms Efua Serwaa Opong, a Director on the Board of the National Investment Bank at the 15th anniversary celebration, fund raising and dinner dance of the ADB Ladies Club on Saturday.

 

She said the world's acknowledgment of the contribution of women to any nation’s development made it obligatory for financial institutions to assist women entrepreneurs especially those in farming to adopt modern trends.

 

Mrs Kufuor asked the ADB to also assist its ladies with managerial potentials to enhance their scope, which would in the end benefit the bank. Mrs Harriet Wontumi, President of the club, catalogued the contributions of women in Ghana's economic development describing them as "unseen movers of the economy".

 

She expressed regret that despite women's contributions to the Bank, it remained a man's Bank as all board members and heads of departments were men and asked that these imbalances be corrected.

 

She said within the past 15 years the club had carried out activities aimed at enhancing performance in the bank as well as lending support to some organisations including Help Age Ghana, Ghana Heart Foundation and the Frafraha Orphanage. An amount of ø21m was donated to these three institutions, with each receiving 7m cedis.

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Cocoa farmers urged to retain premium quality

 

Assin Foso (Central Region) 17 March 2003- Richard Kwame Opoku, Chief farmer of Assin Nnua-Nnua near Assin Foso in the Assin District, has called on cocoa farmers to produce more quality cocoa to justify the motivation, incentives and the support they were receiving from government and licensed buying Companies.

 

He asked the farmers to maintenance their farms regularly and to corporate with government to improve the cocoa industry. Opoku made the call when Cocoa Merchants, a licensed buying Company operating in the District awarded 120 farmers from Breku and Assin districts of the central region for their hard work at Assin Foso.

 

They received cutlasses and Wellington boots valued at more than 100m cedis farming tools at Assin Foso. Francis Frimpong, the Resource Manager of the Company, said the award ceremony, which was intended to be carried out in all cocoa growing areas in the country formed part of the Company's support to farmers.

 

He commended the government for its efforts to assist cocoa farmers to increase yield. Frimpong called on them to collaborate with the Company so that they could benefit from subsequent support.

 

Emmanuel Henaku Mensah, the Assin District Manager of the Company, said the performance of the company had improved tremendously as compare to the previous years. He said the achievement was due to the prompt and fair way farmers' bonuses were disbursements and improved purchasing clerk-farmer relations.

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4bn cubic metres of timber lost through bushfires

 

Kumawu (Ashanti Region) 17 March 2003- Ghana lost more than four billion cubic metres of timber valued at about 480bn cedis for the past decade through bushfires, Atta Owusu, Ashanti Regional Manager of the Forest Services Division (FSD) of the Forestry Commission, has said.

 

He noted that bushfires was now the most serious threat to sustainable forest management in the country, adding that, it was severely impeding and frustrating efforts at regenerating the forest.

 

Owusu was speaking at the inauguration of the Regional Wildfire Prevention and Control Committee under the Ghana Government/Netherlands joint funded Wildlife Management Project at Kumawu in the Sekyere East District on Friday.

 

The committee draws its membership from the Forestry Commission, Ministry of Food and Agriculture (MOFA), the Military, Police, Ghana National Fire Service (GNFS), Meteorological Services Department (MSD), Environmental Protection Agency (EPA) and the National Disaster Management Organisation (NADMO).

 

The rest are the Regional Co-ordinating Council (RCC), National Commission for Civic Education (NCCE), Regional House of Chiefs and the Information Services Department (ISD).

 

Owusu pointed out that 400,000 hectares of the total reserved area in Ashanti had been degraded mainly by wildfires, logging, chainsaw activities and agricultural encroachment.

 

This represents about 25 percent of the region's reserved area. The FSD Regional Manager therefore, described the launch of the project as "welcome news" and encouraged fire volunteer squads and all people in the region to get actively involved to ensure its success.

 

William Halm, the Regional Fire Officer, called for a second look at the country's Bushfire Prevention and Control Law of 1990, which he said, had become ineffective. He observed that penalties imposed under the law on offenders were ridiculous while some aspects were not in tune with current realities.

 

The Regional Fire Officer cited a clause in the law that enjoins people who see others setting bushfires to report such offenders to the People's Defence Committees (PDCs), arguing that, since those committees no longer existed, the maintenance of that particular clause was unnecessary.

 

Oheneba Amponsah Agyeman, the project Co-ordinator, said it was operating in the transitional zones of Ashanti, Brong-Ahafo and the Eastern regions. The project is designed to implement effective fire detection and communication systems, provide incentive packages to communities that reduce the incidence of bushfires, strengthen the capacity of forest fringe communities to fight bushfires, training of fire volunteer squads, and establish firebreaks and intensification of public awareness programmes on fire prevention.

 

Barima Asumadu Sakyi II, Omanhene of Kumawu Traditional Area, said checking wildfires should be the collective responsibility of all. Incentive packages valued at 20.5m cedis were presented to fire volunteer squads from Offinso, Kumawu and Juaso. The volunteers received cutlasses, Wellington boots and flashlights.

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