Local enterprises urged to take advantage of open markets
GSE All-Share Index makes gains
No ban on pineapple exports to EU - SPEG
Accra (Greater Accra) 04
September 2001 - There is no ban on Ghanaian pineapples in Europe; exporters on
their own decided to suspend shipments for 10 days to enable them to adjust to
new required level of Ethrel residue in the produce, the Sea-Freight Pineapple
Exporters of Ghana (SPEG) said on Tuesday.
Speaking on behalf of SPEG
at a press conference in Accra, Mr. Gary D. Kilmer, Deputy Chief of Party, Amex
International, a United States consulting firm, which assists players in the
horticultural and agricultural industry in Ghana said, Ghana exported 40,000
tonnes of pineapple to Europe last year.
"Since the middle of
July, shipments have resumed and shipments are made to EU weekly," he said.
"The month of August this year recorded the highest level of pineapple
exports in a month from Ghana ever."
He said: "There are
all indications that this year's volume of exports would go up to about 45,000
tonnes."
Mr Kilmer was responding
to recent media reports to the effect that under a new initiative in the EU,
termed EUREP-GAP there was a ban on pineapple export from Ghana to Europe
because of restrictions on the level of chemicals in the fruit.
He explained that under
the EUREP-GAP initiative, which was expected to be fully effective in January,
2003, supermarket chains and leading retailers in the EU would expect suppliers
of pineapple to the EU to certify and comply with a specific chemicals
requirement levels in the cultivation of pineapple by the given deadline.
"Regarding the
application of Ethrel, which is used to de-green pineapple to enhance its
yellow colour, its maximum residue level (MRL) became effective on July 1,
2001. The MRL for Ethrel acceptable in the EU is 0.5 ppm," he said.
Mr Kilmer said within the
same month of July, after the MRL effective date, pineapple exports from Ghana
were found to contain more Ethrel than the required level, but were allowed
into the EU market and completely sold out.
He said, thereafter,
Ghanaian pineapple exporters on their own, decided to suspend shipments for 10
days to enable them adjust to the new level, adding that the period was also
used to discuss Ethrel residue trials.
Mr Kilmer noted that
Ethrel, also known as Ethephone was not a harmful chemical, saying that it was
a hormone, which is sprayed on pineapples ten days before they are harvested.
He said currently there
were no machines for testing chemical levels in fresh foods in the country,
adding that Amex, SPEG and other collaborators were making efforts to raise
funds to acquire one for the country.
This he said would ensure
that fresh foods from the country were tested to meet approved chemical and
pesticide levels and the foods given Phytosanitary certification before they
leave the shores of Ghana to the EU.
Mr. Kofi F. Asmah, Vice
President of the Horticultural Association of Ghana (HAG) said this was the
first time such a requirement has been put in place by an importer, adding that
no importer ever asked exporters to do chemical test before shipment of
exports.
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Agona Swedru (Central Region) 04 September 2001 - The government has stopped borrowing from the Bank of Ghana as a means of ensuring an effective fiscal and monetary development.
Dr Paa Kwesi Ndoum, Minister of Economic Planning and Regional Co-operation, said the move would help reduce the current high bank rate and inflation.
Inaugurating the Central Regional branch of the Association of Small-Scale Industries (ASSI) and Credit Unions at Agona Swedru, he noted that industries and companies have started reaping huge profit margins because of the economic strategies of the government.
The Minister said most companies and industries, declared losses last year due to unfavourable economic conditions. Dr Ndoum gave the assurance that the stabilisation of the cedi within seven months would not be a nine-days' wonder but would be sustained to enable the private sector to enjoy more profits.
The Minister stated that the country has started enjoying the benefits of the Highly Indebted Poor Countries (HIPC) Initiative and said Canada, England, Japan and Germany, have cancelled the debt Ghana owed them.
He said that the government would soon launch a poverty reduction strategy programme in the Upper East, Upper West, Northern and Central Regions and that the Emergency Social Relief Programme launched recently by President John Agyekum Kufuor to assist farmers and fishermen has started in Accra and Central Region, saying that the money was not free but would attract an interest of 20 per cent.
The government has also imported 300 outboard motors and fishing nets for distribution to fishermen to enable them increase production, he said, adding that substantial financial assistance would be given to promote commerce and agricultural development.
Mr Frank Quiseh, Chairman of ASSI, appealed to the Agona District Assembly and chiefs to release more lands for the establishment of an industrial village.
He said the Poverty Alleviation Fund (PAF) should be disbursed through the Association's Credit Union for easy recovery.
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Ho (Greater Accra) 04 September 2001 - Mrs Agnes Guimba-Ouedrago, Deputy Resident Representative of the United Nations Development Programme (UNDP), has called for the promotion of Ghanaian enterprises to take advantage of opportunities offered by the easing of international trade barriers.
"With current trends in globalisation and trade liberalisation, trade barriers world-wide have fallen and therefore there is the need to proactively promote the development of enterprises to take advantage of opportunities available in the new environment", she said.
Mrs Guimba-Ouedrago was addressing the second annual Company Masters Programme of the Junior Achievement Ghana (JAG) at Ho on Monday under the sponsorship of the UNDO with the collaboration of the Ghana Education Service.
More than 120 students from all the regions except the Upper West, Upper East and Northern Regions are attending the five-day workshop, which is under the theme "Entrepreneurship and Growth-Responsibility for all".
Mrs Guimba-Ouedrago cited the African Growth and Opportunity Act (AGOA) of the USA and the EU/ACP Accord and the ECOWAS Protocol as challenges to Ghanaian entrepreneurship.
She said the JAG and its innovative programmes were vital parts of Ghana's success as a full market economy.
As the business world grew increasingly complex, there was the need that "we prepare our students at the earliest possible age for the challenge that awaits them at the work places", she said.
"We must build the youth into a business class which can support the socio-economic development in the country" she exhorted.
Mr Samuel Gyang, Regional Director of Education, cautioned participants against leaving their education to undertake serious business.
"If you do this, then you will not be making yourselves well-balanced individuals in your undertakings as business itself is full of risks", he warned.
Since the founding JAG in Ghana in 1994, it has trained about 20,000 students through yearly programmes, which includes interaction with businessmen, exhibitions and business management lessons.
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Accra (Greater Accra) 04 September 2001 - The GSE-All Share Index, the benchmark index of the Accra bourse, was 3.24 points firmer on Monday when Unilever Ghana Limited gained 100 cedis to push it up.
The index finished up at 952.81 points compared to 949.57 points recorded at the previous session on Friday. The market was, however, dull as investors continued to shy away from activities on the bourse.
Traded volumes, albeit went up marginally at 27,700 shares as against 16,000 shares on Friday, were a far cry from the 5.62 million shares recorded at last Monday's trading session.
The UNIL recorded the only price change for the session. It gained 100 at 2,000 cedis. The total market capitalisation rose slightly at 3,858.09 billion cedis from 3,851.84 billion cedis on Friday.
Below are the closing prices of the listed equities in cedis:
ABL 630
AGC 18,500
ALW 4,300
BAT 600
CFAO 60
EIC 2,900
FML 1,000
GBL 1,300
GCB 1,550
GGL 900
HFC 952
MGL 240
MLC 130
MOGL 20,000
PAF 755
PBC 450
PZ 700
SCB 21,000
SPPC 356
SSB 2,300
UNIL 2,000 +100
CMLT 430
GRi../
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