Ghana
and Shandong Province sign Memorandum of Understanding
All
Share Index plunges on Aluworks loss
Current
trends in telecom industry is satisfactory- Minister
Thousand
dollars per capita income achievable -Dr Nduom
Brong
Ahafo launches anti-cocoa smuggling campaign
Government
urged to promote alternative commodities for export
Ghana
and Shandong Province sign Memorandum of Understanding
Accra (Greater Accra)
07 November 2002- A Memorandum of Understanding to strengthen economic and
trade co-operation has been signed between Ghana and the business delegation of
Shandong Province, China, in Accra.
Kojo Agyepong, Chief
Director of the Ministry of Trade and Industry, signed on behalf of Ghana
whilst Liang Bo, Deputy Director of the Department of Foreign Trade and
Economic Cooperation signed for the Chinese Province.
The memorandum was
signed when the delegation paid a farewell call on the Minister of Trade Dr.
Kofi Konadu Apraku in his office. The 31-member delegation arrived in the
country on Saturday, 2 November to explore opportunities, which exist in the
country.
According to the
memorandum, the two parties would focus on and enhance co-operation in fields
of agriculture, machinery, building materials and textiles and any other fields
that may be agreed upon.
The parties would also
assist each other in the organisation of participation in exhibitions, fairs,
seminars and similar events taking place in each party's country aimed at the
expansion of economic cooperation.
Dr Apraku said 12
business deals were close to be sealed by the delegation. These have been
categorised into three segments, namely, the importation of goods like
automobile parts, ceramics, floor and wall tiles into Ghana. It also includes
the export of pineapple ocean fishing, cassava, shea butter processing, wood
processing, warehousing, salt processing, textile and garment.
He said the team also
identified Ghanaian counterparts and were working on modalities of joint-venture
agreements. Liang B, said the visit has deepened their understanding of the
country. The delegation departs for China on Wednesday.
GRi…/
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All
Share Index plunges on Aluworks loss
Accra (Greater Accra)
07 November 2002- The Ghana Stock Exchange (GSE) All Share Index, the main
market indicator, slipped on Wednesday by 1.34 points on account of a whopping
100 cedis loss by Aluworks.
The bourse, which also
saw four equities gaining, ended trading 1,339.66 points. The change year to
date dropped at 40.14 per cent from 40.28 per cent. Market capitalisation
dropped marginally at 4,939.44bn cedis from 4,942.08bn cedis.
There were five price
changes four positive one negative. Aluworks lost 100 cedis at 3,700 cedis.
Guinness Ghana Limited gained 10 cedis to close at 1000 cedis and the Social
Security Bank gained three cedis to close at 3,957 cedis.
Uniliver and Fan Milk
Limited gained two cedis and one cedi to close at 4,316 and 1,751 cedis
respectively. Total shares traded dropped significantly at 51,200 shares from
191,100 shares at previous close.
The following are the
last prices of listed equities in cedis:
ABL
380
AGC 18,807
ALW 3,700 -100
BAT 1,001
CFAO 67
EIC 4,526
FML
1,751 +1
GBL 500
GCB 3,510
GGL 1,000 +10
HFC 955
MGL 254
MLC 270
MOGL 19,721
PAF 750
PBC 390
PZ 2,000
SCB 28,000
SPPC 387
SSB 3,957 +3
SWL 285
UNIL 4,316 +2
CMLT 460
GRi…/
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Current
trends in telecom industry is satisfactory- Minister
Accra (Greater Accra)
07 November 2002- The Minister of Communication and Technology, Felix
Owusu-Adjapong has said that the healthy interconnectivity of telecom service
enjoyed by subscribers now is the result of the new sense co-operation existing
between operators in the industry.
"With the new
sense of harmony and cooperation, we have successfully smoothened relations and
have secured greater interconnection among networks which has reduced
frustration that subscribers go through."
Owusu-Adjapong who
said this at a maiden press conference for key players and operators in
telecommunication sector to interact with the media said this has set a good
pace for Ghana to achieve the dream of becoming the hub of ICT in the sub
region.
The Minister, however,
assured that measures were being put in place to ensure that this healthy
cooperation did not result in the establishment of a cartel to the detriment of
subscribers.
"Matters that
hitherto were referred to the courts for settlement are now openly discussed
and resolved to the mutual satisfaction of the operators." Owusu-Adjapong
said, though government recognizes the fact that it was unnecessary for it to
involve in the day-to-day affairs of these limited liability companies, it owes
it as a responsibility to nurture the practice in the country.
He added that because
infrastructure was a major prerequisite for the development of the industry,
the involvement of government might be difficult to conceal. Owusu-Adjapong,
refuted reports carried by some sections of the media that Telecom Malaysia has
offered its share of 30 percent in Ghana telecom for $200m.
This he said has not
come to the notice of the government and added that a recent letter received
from Telecom Malaysia has even questioned the validity of the offer indicating
that it was not true.
The Minister said
government would soon receive the final valuation report of the shares from its
financial advisors. "It is in government own interest to get the figures
of the valuation as early as possible so that the problem of membership of the
company could be solved," he said.
Some answers provided
by the operators included the problem of interconnection, which it was said
would be phased out by March 2003, extension of service to the middle belt and
the Northern parts of the country especially access to the remotest areas.
GRi…/
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Thousand
dollars per capita income achievable -Dr Nduom
Nerebehi (Ashanti
Region) 07 November 2002-Dr Paa Kwasi Nduom, Minister of Economic Planning and
Regional Co-operation, has said that with the initiation of a number of
programmes designed to alleviate poverty, the 1,000-dollar per capita income by
2010 declared by the government was achievable.
He said the HIPC
initiative had so far yielded good results and the fact that most donor
agencies and countries were prepared to assist the government were healthy
signs. Dr Nduom was addressing two separate durbars at Nerebehi and Kuntanase
as part of his visit to launch and inspect projects of the Ghana Poverty
Reduction Project and the Social Investment Fund (SIF) in the Atwima and
Bosomtwe-Atwima-Kwanwoma districts in the Ashanti Region.
In the Atwima District
14 projects including nine schools buildings and five income-generating
projects under the SIF are to be undertaken at a cost of 2.1bn cedis. The
construction of a block of six classrooms with three toilets had begun at
Nerebehi at a cost of 650m cedis.
The
Bosomtwe-Atwima-Kwanwoma District is the beneficiary of 1.7bn cedis for the
execution of 17 projects including 10 schools buildings and the funding of
seven income-generating projects.
Dr Nduom said the
introduction of the SIF, which was component of the Ghana Poverty Reduction
Strategy (GPRS), would help to establish income-generating projects at the
district level.
''This will encourage
rural dwellers, especially farmers, to stay and work in their villages to
increase food production for local consumption and for export.'' He said the
government's major agenda was the provision of infrastructure to which the
Japanese Government had promised to assist and called on district assemblies to
draw up income generating programmes and submit them to the SIF for funding.
''Such projects would
be supervised and inspected regularly to ensure that funds are being put to the
use for which they were intended.'' Madam Ama Serwaah, Executive Director of
SIF, said so far 45 districts had benefited from the fund made available by the
African Development Bank (ADB) and the United Nations Development Programme
(UNDP).
She called on women
not to sit idle but to take advantage of the many programmes under the fund.
Charles Yeboah and Bright Addai Mununkum, District Chief Executives for Atwima
and Bosomtwe Atwima-Kwanwoma respectively, who took the Minister round on his
tour, promised to ensure strict supervision of the projects.
Ben Bukari, Minister
of State at the National Development Planning Commission, appealed to those who
will benefit from the fund to put the money to good use.
GRi…/
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Brong
Ahafo launches anti-cocoa smuggling campaign
Nkrankwanta (Brong
Ahafo) 07 November 2002- The Ghana Armed Forces (GAF) has instituted a probe
into a recent media report of an alleged involvement of some security personnel
in cocoa smuggling outside the country.
Brigadier George
Ayiku, General Officer Commanding the Northern Command disclosed this on
Tuesday at the launch of the Brong Ahafo Regional anti-cocoa smuggling campaign
at Nkrankwanta in the Dormaa Ahenkro District.
He said the GAF was
conducting investigations into the case and the appropriate actions would be
taken against the personnel if found guilty. "Personnel found to be
involved in the smuggling of cocoa will be dismissed from the service if the
truth of the matter is established and will also be prosecuted at the law
courts".
Brigadier Ayiku said
the Army was aware of the good work of security personnel at the borders but
there were "a few bad nuts" who were destroying the image of the
profession and must be weeded out.
He urged the personnel
to take advantage of the government's incentives package for those who could
arrest smugglers and desist from conniving with the smugglers. The Commander
advised the public to provide information about any personnel found aiding
smugglers for their arrest and gave the assurance that their identities would
be protected.
Ernest Akubuor Debrah,
the Regional Minister, noted that cocoa as a major source of revenue for the
nation over the years would continue to be the back bone of the economy in view
of its contributions to the Gross Domestic Product (GDP), foreign exchange earnings
and employment generation.
The government
regularly reviews the producer price of the crop upwards and has available
logistics for the mass spraying exercise of cocoa farms against pest and other
diseases because of its immense contribution to the nation's economy, he added.
"Government has
remained committed to enforcing the use of the Akuafo Cheque in the purchase of
cocoa to protect farmers against unscrupulous buyers". The Regional
Minister expressed regret that in spite of such efforts by the government the
crop had continued to be smuggled across the borders to neighbouring countries.
The smuggling of
cocoa, which has become a chronic problem with disastrous effects on the
economy, has contributed to Ghana losing her enviable position as the world's
largest producer of cocoa to Cote d'Ivoire in the 1970s, he said.
Debrah added that
recent studies indicated that Ghana had lost her second place to Indonesia. The
Regional Minister announced that the regional Security Council (REGSEC) was
also putting up measures to check the smuggling of petrol, kerosene and other
petroleum product to Cote d'Ivoire.
He warned that
smuggling was an offence punishable by law and any one caught would be made to
face the full wrath of the law. Debrah said the REGSEC was making arrangements
to receive and care for all refugees who might find their way into the Dormaa
District because of the crisis in Cote d'Ivoire.
He appealed to
residents along the border to assist and direct refugees to the registration
centres and also to report the presence and movement of strange persons in
their communities to the security agencies.
Dr Kwame Addo-Kuffuor,
Minister of Defence, who launched the programme, reiterated the adverse effects
that the smuggling of cocoa across the borders had on the nation's economy.
The country has
already lost its former glory in timber, mines and is now left with cocoa,
which is gradually being smuggled into neighbouring countries. He reiterated
that cocoa smuggling reduced Ghana's total output by as much as 60,000 metric
tonnes and expected revenue in foreign exchange amounting to $62m.
He advised the people
to stop the negative practice and help save the nation's limited foreign
exchange earnings for development. This will also help the government to fulfil
its promise of providing good roads, water, and health facilities to raise the
living standards of the people, he said
Dr Addo-Kuffuor, who
also acts as Minister of the Interior later presented 700 school uniforms, 240
notebooks, 400 exercise books and 1,550 pencils to support education in the
district.
He promised to provide
three pick up vehicles and three motorbikes to enable the district to fight
effectively against smuggling. Sam Appah, Deputy Chief Executive of COCOBOD in
charge of marketing announced that 242 billion cedis had been set aside to
control pests and other cocoa diseases in all cocoa growing areas next year.
He added that 10m
cedis had also been allocated to the COCOBOD education scholarship scheme for
brilliant but needy children. Osagyefo Oseadeeyo Agyeman Badu II, Omanhene of
Dormaa Traditional Area, who presided, commended the government for increasing
cocoa producer price three times since it assumed office and called for more
increment to bridge the gap between Ghana and the neighbouring countries to
prevent the smuggling of cocoa.
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Government
urged to promote alternative commodities for export
Techiman (Brong Ahafo)
07 November 2002- The Government has been urged to give equal attention to
non-traditional commodities for export. Dr S.K. Gyamfi-Yeboah, a homeopathic
practitioner, who made the call in an interview with Ghana News Agency, held
that the price of cocoa could fall "as it happened in 1999-2000,"
hence the need to promote other commodities.
He urged the
government to give equal attention to maize, millet, yams and tomatoes,
"which can also be exported for foreign exchange." Dr Gyamfi-Yeboah,
also called for the re-organisation of the Ghana Food Distribution Corporation
(GFDC) to provide ready market for farmers.
The government must
also work to re-activate tomato processing factories to give small-scale
farmers the opportunity to contribute to the Golden Age of Business, he said.
GRi…/
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