New Tafo (Eastern Region) 30 November 2001 - CASHPRO, a Licensed Buying Company (LBC) of cocoa risked being blacklisted by the Ghana Cocoa Board (COCOBOD) if it again failed to purchase cocoa next season due to its multi-billion-cedi indebtedness to eight banks over last season's operations.
The company was unable to purchase cocoa this season since it owed over 36 billion cedis worth of undelivered cocoa out of the 93 billion cedis seed fund advanced to it by the COCOBOD for the 2000-2001 main crop seasons that was guaranteed by the banks.
The Chief Executive of the COCOBOD, Mr Kwame Sarpong gave the hint in an interview with the GNA at New Tafo on Thursday, when he paid a familiarisation tour of the Cocoa Research Institute of Ghana (RIG).
He said an LBC lost its licence if it failed to perform its duties for two consecutive cocoa seasons under the agreement between the LBCs and the COCOBOD.
The Minister of Finance, Mr Yaw Osafo Maafo, earlier in November told Parliament about CASHPRO's liability to the COCOBOD in an answer to a question.
Mr Sarpong said that despite the absence of CASHPRO from the system, the other 16 LBCs purchased 108 metric tonnes of cocoa in October instead of the projected 68 tonnes.
He said the COCOBOD raised 300 billion cedis for this season's expected 400,000 tonnes of cocoa beans, saying it spent 260 billion cedis for last season's purchase of about 390,000 tonnes.
Addressing a staff durbar earlier, Mr Sarpong called on them to step up productivity to merit any demands for improved conditions of service.
He deplored the deteriorated infrastructure of the Board countrywide and pledged that everything would be done to infuse a maintenance culture in all units to avoid heavy expenditure outlays in the future.
Mr Sarpong pledged to lift the image of the Board to fit its status as one of the leading public institutions and announced that the structure of the Board would be reviewed to enhance efficiency and motivation for hard work.
The Chairman of the Local Union, Mr George Nkansah had complained of lack of promotion resulting in low morale among the lower ranks and appealed for immediate review of the situation.
The Acting Executive Director of the CRIG, Dr Michael R. Appiah, who had earlier conducted Mr Sarpong round some units of the Institute, appealed for increased funding for research activities and the replacement of obsolete equipment.
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Accra (Greater Accra) 30 November 2001 - Ghana is to be made the most attractive country in the sub-region for oil and gas exploration and production by restructuring the Ghana National Petroleum Corporation to focus on its core-business of promoting oil and gas exploration, Mr. J. H. Mensah, Senior Minister said on Thursday.
Additionally the GNPC would be retooled and motivated to provide effective support to the oil companies that come to Ghana to undertake oil and gas exploration.
"We will support sweeping reforms in the oil and gas sector with the aim of making Ghana the most attractive country in the sub-region for oil and gas exploration and production," he said.
Mr Mensah, Chairman of the National Economic Team, was addressing the opening of a two-day workshop on "Deep water exploration in Ghana - The way forward" organised by the Ministry Energy with sponsorship from USAID.
The workshop seeks to discuss the deepwater prospects, develop policies and strategies and make recommendations for adoption by the government
Recent deepwater oil discoveries in the Gulf of Guinea, of which Ghana was part, had brought into focus the need to redirect Ghana's exploration efforts to the deep-water areas.
Mr Mensah said the oil and gas sector held the key to the accelerated development of the country and everything possible must be done to provide the right environment for it to flourish.
He said in line with the government's policy of "positive change" the length of time it took to approve exploration permits would be cut down considerable, adding, "we promise to expedite the ratification of agreements and the granting of extensions".
"The GNPC has already mapped structures that contain in-place volumes of several billion barrels of oil giving us hopes of Ghana becoming an oil giant within the sub-region," Mr Mensah said.
He said 75 per cent of the wells drilled in the country so far, have encountered varying volumes of oil and gas which was much better than the world average of 20 to 30 per cent.
"This is convincing that the big one is hiding somewhere to be found. "Mr Mensah said although the terms and conditions in the existing petroleum law and the petroleum income tax law were generally good, "we wish to make them even more attractive".
He said industry concerns about duration of exploration and other parameters like royalty, taxes and state participation would be addressed.
Mr Mensah expressed the hope that a refinery would be established around Takoradi, which would be used solely for the export of oil from Ghana to the rest of the sub-region.
Mr Albert Kan- Dapaah, Minister for Energy, said deepwater discoveries made in the sub-region in recent years had highlighted the potentials of the region to be the oil and gas province of the 21st century.
"All the technical data available point to the fact that there should be some oil in Ghana." "We are surrounded by oil producing countries such as Cote D'Ivoire, Equatorial Guinea, Angola and Gabon all of which are producing deep water."
He said basin analysis indicated that the Cote d'Ivoire and Ghana boundary had the same potential. "While Cote d'Ivoire has within a short time become self-sufficient in both oil and gas, Ghana is still searching for its hydrocarbons."
"There is no technical reason why Ghana also should not be self-sufficient", Mr Kan-Dapaah said.
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Accra (Greater Accra) 30 November 2001 - A new computer anti-virus software that has a 100 per cent virus detection component was on Thursday launched in Accra by Business Support Services Division of Pat Gate Limited.
Known as the Quick Heal Xgen, the software that was developed in India has a messenger to provide protection through information.
The product automatically collects information about new viruses, hoaxes and solutions and flashes on the user's machines making them easier to detect.
Launching the software Mr Ashim Morton, Chairman of Ghana Classifieds, said it was important for the country to set up anti-virus research institutions to help businesses using information technology.
He called on the National Security Council to establish within the Police Service a unit to co-ordinate all computer virus research institutions.
Mr Morton said the establishment of anti-virus centres would create jobs and enhance information technology advancement in the country.
Mr Henry Quarshie, Intelligence Solution Manager at Pat Gate, said Quick Heal Xgen had an advanced memory that ensured that no virus active in memory was missed and provided memory scanning under windows and even names the application that might have led to the infection.
"It contains a sensor to trap and remove new Trojans, worms and backdoors with a micro sense technology designed to tackle new macro viruses."
He said the product combined both proactive and reactive technologies and detected viruses from floppy disks, internet downloads, E-mail attachments, networks, intranet, shared files, CD ROMS and online services.
Mr Quarshie said unlike other virus cleaning software; Quick heal Xgen also cleaned from the DBX file to completely eradicate viruses like KAK.
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Accra (Greater Accra) 30 November 2001
Currency Buying Selling
US Dollar 7,075.91 7,274.36
Pound Sterling 10,083.17 10,371.78
French Franc 956.47 983.06
Swiss Franc 4,294.91 4,414.65
Deutsche Mark 3,207.12 3,297.86
Canadian Dollar 4,467.71 4,590.91
Japanese Yen 57.45 59.06
Dutch Guilder 2,847.07 2,926.24
S/African Rand 719.69 738.53
Euro 6,272.19 6,447.31
CFA Franc 9.56 9.83
Naira 64.31 66.11
Ecowas/WAUA 9,040.87 --------
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