$120m power generating barge plant inaugurated
Ghana has only three trade reps abroad
Take a second look at
Vision 2020
Yam export business under threat
Bolgatanga
(Upper East Region) 21 October 2002 - Traditional boundaries and chieftaincy
jurisdictions are adversely affecting efforts by the Electoral Commission to
demarcate electoral boundaries and create new constituencies. Some traditional
rulers are resisting the electoral re-demarcation with the fear that they will
lose territory to other chiefs.
The chairman of the Electoral Commission, Dr Kwadwo Afari Gyan, expressed the
commission's frustration at a forum on "Legal and institutional framework
for District level elections, at Bolgatanga at the weekend.
He noted
that "sometimes we want to draw an electoral boundary but a chief will not
allow us to do so with the claim that he would lose such a portion of
land," the EC chairman noted.
The forum, organised by the EC and the Ministry of Local Government and Rural
Development, was to determine the appropriate sizes of the districts and
discuss whether it should be made partisan. According to Dr Afari-Gyan, in the
past, the only criterion in the demarcation of electoral boundaries was
population density.
The EC chairman urged the participants to dispassionately digest the issues of
the partisan and non-partisan nature of the district assemblies, the
appointment or election of District Chief Executives (DCEs), low voter turnout
at the district level and unit committee elections as well as other related
matters, and come out with concrete suggestions.
Mr Obeng Busia, Special Assistant to the Minister of Local Government and Rural
Development, in his contribution, noted that since the assemblies operate like
companies in which the government continues to inject money by way of the
Common Fund, then the government has every right to protect its interest by
ensuring that its appointees serve on the assemblies.
On the
issue of the appointment or election of the DCE, while some of the participants
favoured the former, others felt the DCEs should be elected.
On the low voter turn out, the participants observed that, some of the voters
become frustrated when electoral materials are delayed and, therefore, decide
to return to their homes or businesses instead of waiting to cast their votes.
Some of
the contributors, were not happy with the way the one-third government
appointees are selected, claiming that instead of the idea being primarily to
make up for the shortfalls of the elected members in terms of expertise, the
appointing authorities favour party members.
Some of the participants also suggested a reduction in the number of the unit
committee members since in some areas they cannot even find the required
number. - Daily Graphic
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$120m power generating barge plant inaugurated
Accra
(Greater Accra) 21 October 2002 - The Minister of Mines and Energy, Albert
Kan-Dapaah, has inaugurated the $120-million power generating barge plant named
“Osagyefo” at the Sekondi Naval Base.
He said that the operation of the barge will commence when natural gas at the
Tano Basin is exploited, gathered and fed to the plant to generate power.
He explained that the sector ministry has long recognised the need to exploit
the natural gas reserves of the Tano Basin to feed the plant. According to
Kan-Dapaah, the government is desirous of encouraging private sector
participation in power generation in the country.
He, however, noted that the government is committed to ensuring a favourable
investment climate before formalising such participation. He stated that apart
from entering into an agreement with the Tano Energy Limited to exploit natural
gas to fuel the plant, the Ghana National Petroleum Company is talking to major
and independent oil companies to exploit the oil in the area.
The minister thanked the Italian Government for its support and assistance
during the difficult and delicate negotiations with the barge manufacturers,
over the accumulated demurrage charges.
The Italian Ambassador, Giancarlo Izzo, expressed satisfaction that Italian
technology fits very well into the Ghanaian situation. He expressed the hope
that the barge would help strengthen the cordial relations between the two
countries. - Daily Graphic
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President urges Japanese
firms to invest here
President
J.A. Kufuor has asked Japanese electronic and computer companies to take advantage
of Ghana’s gateway project to set up businesses in the country. He said
Japanese companies can establish assembling plants or outposts in Ghana where
they can also utilise the huge market potential of the West Africa sub-region.
President
Kufuor made the appeal when he paid a working visit to Panasonic Centre in
Central Tokyo yesterday, as part of his one-week official visit to Japan.
Accompanying President Kufuor on the
visit, which is at the invitation of the Japanese Government, are his wife,
Madam Theresa; Senior Minister, J.H. Mensah; Foreign Minister, Hackman
Owusu-Agyeman and other senior government officials.
President Kufuor was met on arrival at the new Tokyo International Airport at
Narita by Ambassador Hidea Damichi, Director General for Sub-Saharan Africa;
Japanese Ambassador to Ghana, Madam Asai Kazuko; Ghana’s Ambassador to Japan,
Dr Barfuor Adjei-Bawuah and officials of the Ghana Embassy in Japan.
After exchange of greetings, the President and his entourage were driven from
Narita to the Imperial Hotel in Tokyo, a distance of about 60 kilometres, where
the delegation will be lodging during the visit.
President
Kufuor asked the management of the Matsushita Electronic Industrial Company
Limited to look towards Ghana which is the gateway to the West African
sub-region with a total population of about 260 million.
The Panasonic Centre showcases the company’s latest Panasonic and National
Computer and electronic products either on the market or about to be placed on
the market. He said Matsushita Industrial Company can contribute towards job
creation transfer of technology and expand the company’s market in Ghana and
beyond.
Ghana, he said, would like to establish a partnership and join hands with the
company towards the achievement of its vision to network people everywhere for
the uplift of humanity.
Mr Osamu Tamku, Senior Managing Director of Matsushita Electronic Industrial
Company Limited, expressed appreciation to the President for finding time to
visit the company in spite of his busy schedule. He said the company has been
achieving progress, since its establishment in 1918 towards the enhancement of
life in Japan and elsewhere.
Last year alone the company registered $52 billion in sales. The company has
270,000 workers and operates in 45 countries worldwide. Mr Tamaka explained
that the major focus of his company is to connect people everywhere and ensure
that people live in harmony with the global environment through the
availability of electronic appliances.
He said the Panasonic Centre, which was opened in September 2001, exhibits
different concepts of products and latest electronic technologies on the
markets.
According
to the official programme released by the Japanese Ministry of Foreign Affairs,
President Kufuor will meet the Japanese Prime Minister, Mr Junichiro Koizumi
today and the Imperial Highness, Prince Notihito Takamado and Princess Takamado
at the Imperial Palace tomorrow.
Mr Kufuor is also scheduled to meet the Governor of Fukushima Prefecture
tomorrow.
The Chairman of the Board of Directors of JETRU, President of JICA and
President of Pastera will pay separate courtesy calls on President Kufuor. The
President will also visit the Noguchi Memorial Centre on Wednesday.
His visit to Japan is of crucial importance in view of the fact that Japan has
steadily overtaken all donors to be the leading contributor of Overseas
Development Assistance to Ghana.
Japan’s
economic aid to Ghana amounts to about $75 million. Under Japan’s New
Development Strategy (NDS) Ghana, Tanzania, Ethiopia, Cambodia and Peru are
considered priority targets for assistance.
Japan recently took a historic decision to convert Ghana’s commercial loans
into grants in spite of the government’s decision to adopt the HIPC initiative.
- Daily Graphic
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Accra (Greater Accra) 21 October 2002 - It came to light last week during a seminar on export financing that Ghana has only three trade representatives in over hundred missions abroad. The three capitals where Ghana has trade representatives are Geneva, London and Washington. A new trade representative is now being considered for Brussels.
The issue of promoting Ghana’s goods abroad came up for discussion when Mr. Kwesi Hagan, Director of Policy Planning of the Ministry of Trade delivered a paper on “Export Development: The way Forward.’ The seminar was organized by the Institute of Financial and Economic Journalists (IFEJ) and sponsored by Merchant Bank Ghana Ltd.
Asked why Ghana chose to keep only three trade representatives abroad Hagan could only force a smile. While he was unwilling to offer any reasons some participants suggested that perhaps the ‘No money syndrome’, could be the possible reason. The participants wondered why for the past twenty years the government found money for presidential investment promotion trips, when such resources could have been channelled into sending more trade representatives abroad. The intervention by the participants drew laughter, but beyond the laughter is an oversight that is hampering the country’s trade development and with it the loss of millions of dollars.
Elsewhere, the situation is different. Hong Kong, whose economic model Ghana is trying to copy has 56 trade offices (apart from the embassies) in the world, with 12 in the United
States alone. Hong Kong has eight such offices in Germany.
The result is that Hong Kong, which is not blessed with many natural resources, exports more items than Ghana with all her abundant natural resources. At independence Hong Kong which was at par with Ghana, now boasts of a per capita of US$27, 000. Ghana’s is US$390.
In another presentation, Mr. Asiedu Appiah, of the Export Finance Company advised the government to take a cue form the German government, which recently insured Made- in-Germany goods sold in Ghana. Appiah explained that the decision to guarantee the German goods was prudent government decision to encourage German exporters to reach to the rest of the world. “We should also do the same for Made-in-Ghana goods in countries like Mali, Liberia, Sierra-Leone and Burkina Faso”, suggested Appiah.
The under representation of trade officials at the country’s missions is perhaps, the sad reflection of Ghana’s increasing trade deficits. Figures from the Ministry of Trade show that in 2000 exports amounted to US$2,239 million compared to imports of US$ 2, 759 million showing a trade deficit of US$823 million. For 2001 exports registered US$1,893 million compared to imports of US$2,652 million showing a deficit of US$759 million. For 2002 exports are expected to yield US$2,037 million as against imports of US$2,856 million, which will lead to a deficit of US$821 million.
To get the export sector out of the woods,
all the resource persons pushed for the government to appoint a trade agent in
say London who will operate a refrigerated warehouse to store perishable
exports like pineapples, oranges, bananas etc. - Public Agenda
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Take a second look at
Vision 2020
Professor Cletus K. Dordunoo, an economist has asked the government to take a second look at the Ghana's Vision 2020 document.
He explained that the official silence over the Vision 2020 was one of the factors that affect the country's risk status. The Vision 2020 document was designed by the previous government to move the country from its present status to a middle-income status.
Prof Dordunoo who was speaking at a forum on the Ghanaian economy and the launching of the maiden publication of the Ghana Economic Forecasts and Analysis (GEFA) in Accra last Friday, explained that such national programmes are helpful to foreign investors and the international community in their analysis and forecast of the economy.
Other risk factors, he outlined were the rise in all manner of crimes and land litigation and chieftaincy disputes.
He noted that although the macro economic environment showed moderate but steady improvement, these factors could affect the country's risk status when not addressed. "The fight against corruption in Ghana must be intensified in order to prevent all forms of looting of national resources. Government must also intensify its fight to curb the rate of armed robbery and other criminal activities that increase the country's risk status," he said.
Regarding industry, Prof. Dordunoo said that government must resolve all the bottlenecks, and that bank lending interest rate must come down in line with other rates n order to reduce the cost of borrowing to the private sector. He advised the Monetary Policy Committee of the Bank of Ghana (BoG) to work hard to ensure the leading rates of the banks.
"It should be possible for government, as has been done in 2001, to synchronise revenue with expenditure in order to avoid deficits out of proportion to the Ecowas Monetary Zone requirement (of not more than five per cent of GDP).
Indeed, the deficit of 4.4 per cent of GDP in 2001 as against the revised target of nine per cent was a sign of prudent fiscal and monetary management," he said. Prof Dordunoo noted that the main issue was how to sustain the prudence in economic management in order to achieve the single digit target among others by 2004.
Miss Mary Buako, Chief Executive of the
Chartered Institute of Bankers said it is the aim of the organizers to make the
forum and seminar publication a bi-annual affair to assist industrialists,
bankers, investors, all commercial concerns and government alike to
strategically draw their plans and policies. - The Ghanaian Times
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Accra (Greater Accra) 21 October 2002 – It took a long time coming, but when it came it engulfed many innocent people. Chronicle can report that last Thursday’s action at the Ghana Civil Aviation Authority (GCAA) was a reluctant, belated strike against one of the President’s closest friends and confidante who had long stretched Kufuor’s patience and tolerance over many acts of imperviousness and allegations of improper conduct.
Dr Amoako Tufuor, member of the President’s kitchen cabinet from the beginning, who also counts himself as a member of the National Security infrastructure within the government, stayed away from the President’s direct supervision shortly after he was put on the board of Ghana Civil Aviation Authority (GCAA).
The complaints against Amoako Tufuor are many but a feeling of unease and disappointment is setting in as board members appear to be embarrassed about the mode and timing of their wholesale removal because it created the impression that they were all complicit in one act of transgression or the other.
The only man on the board to have publicly spoken about the action and the link to the detention of the national carrier was Captain Joe Boachie, the Director General of the Authority, who was squelched by the more boisterous axed Chairman.
He had been engaged in a furious battle with the more outspoken, loud-mouthed Amoako Tufuor for the better part of this year. A forensic audit of GCAA is highly recommended.
It was learnt that Captain Boachie flew past his retirement age of 60 some two years ago and has been fighting a rear guard action to stay, against the wishes of Amoako Tufuor.
At one point the Board had to intervene, but could not resolve the intractable challenge. Captain Boachie who does not command the confidence of a number of the top management staff and board still stuck to his guns to remain in office despite his age.
When he was finally persuaded to, at least, go on leave, he requested that the Director of Finance and Administration, Ansah, who had just gone on retirement at 60, barely three months earlier, be recalled to replace him temporarily.
Amoako Tufuor wanted someone else, a long retired veteran of GCAA. The negotiations were broke down. Workers called for a staff durbar last week and complained about the interference of Amoako Tufuor in the presence of Captain Boachie.
Last Wednesday, the sector Minister, Dr Richard Anane, attended the durbar and spoke to the workers to calm down. From there he went straight to the castle and briefed the President.
It did not come up on that day’s cabinet meeting as this imbroglio amounted to the last straw or complaint JAK needed to act. He stuck out and cleaned the entire board. It had nothing to do with the detention of any airplane belonging to Ghana Airways, it was gathered.
There was evidence that Dr Amoako Tufuor, one time lecturer at KNUST, set up a parallel management system, even though his position was that of a chairman, a position that does not entitle to have a permanent full office.
He set up a full office at the first floor of Aviation House complete with a number of secretaries and a full complement of officers and errand boys. All the bills, rent, telephone, fuel and even international travels that he did not have authorisation to attend, he undertook and passed the bills on GCAA to pay.
The fallen Chariman, and his opposite number, Osei, Chariman of Ghana Commercial Bank (GCB), and also on National Security Board had had very close relationship with President Kufuor in the days when they were ordinary mortals, until their friend attained immortality.
Even while Ansah was in office, Amoako Tufuor hired a “consultant” on a 8,000 a month to replicate what the Finance Director was doing and travelled with him on his foreign trip. That has also become a great problem that the management has and is seeking to unravel, because there is no mandate for that appointment.
Last quarter, he dreamed up a scheme to scrap the Airport City Village Project set up by the NDC administration and turn off all private developers who had bought land for commercial development. Investigations show that he had not received board approval. It was an exhibition of his own megalomania.
Those who know the President, especially those close to him, receive the harshest warnings from him to stay away from any appearance of impropriety, but it appears his friends are letting him down.
“Chronicle” is piecing together stands of
information that point to corruption, acquisition of assets in Kumasi,
elimination of debt portfolio, bloated contracts and other deals with foreign
construction companies working at the airport that have been floating around
and would come out with any substantial find. - Ghanaian Chronicle
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Accra (Greater Accra) 21 October 2002 – Cocaine exporters who smuggle the illicit drug among boxes of yam, virtually abandon the thousands of tons of yam when they arrive in London in the United Kingdom, content with the huge sums of money they make from selling the stuff.
This is threatening the yam export business, one of the major items on Ghana’s non-traditional exports list and worried dealers says government must act now. Should the yam export trade collapse, the producers, largely peasants in the north and Afram Plains, will be impoverished under slumping producer price, it was further learnt.
A research “Chronicle” conducted, following a tip-off, indicated that the popular “pona” yams cost more at the main market in Accra, the Konkomba Market, than it does in London. A hundred (100) tubers of that yam species cost 600,000 cedis at Konkomba. That means 10 of the tuber cost 50 pence there.
Various costs of adding value and handling push the cost of yams being exported to London up. Clearing, binding, weighing, loading, transportation to the port and off-loading are among the 10 processes that increase the cost of every carton of the tubers by £1.00. And the empty carton costs £1.15.
A yam exporter pays about £2.00 as the freight cost (FOB) of one carton of yam which contains 10 tubers from Tema to London. These add to make the value of one carton of yams £8.00 and, assuming the exporter adds a margin 25 percent on it , the value of the carton should be £12.00.
The price of one carton of 10 tubers of “pona” today on the market is £5.00, £1.00 less than what it is really worth. The confounding reality is that far from discouraging the yam exporters from shipping more yams to the UK and other European markets, the glut actually seems to be encouraging some of them to send more yams.
“Chronicle” learnt that those mindless of the colossal losses incurred are those who excavate hollows in the tuber and push rolls of cocaine inside. It was learnt that among about 1,000 cartons of yam that each of such criminal exporters posts, only two or four of the boxes may be containing the powered substance.
But if they are able to pull those boxes out and land them successfully in London, the worth of the cocaine far exceeds the value of the rest of the yam. “In some cases, they abandon the whole pack of yams to rot in the markets, content with the drug booty,” one frustrated yam dealer added.
“Chronicle” search for the root cause of
the problem established that some time now the export of some non-traditional
products, particularly yams, has been too close co-ordinated and monitored.
Anybody at all can jump into the trade, virtually uninhibited and whether they
really export yam or something else no one checks seriously,” was another
exporter’s lamentation. - Ghanaian Chronicle
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On the very day that the controversial $1bn fortune was due to hit the Central Bank of Ghana as claimed by Dr. Paul Acquah, Governor of the Bank of Ghana, whose integrity and credibility now hangs by a thread, the e-media community and the financial world were enthralled with information beamed round the globe that the money had finally been traced, sparkling a feeling of excitement and relief all around.
The information was first beamed on the popular Ghana-centred website set up a decade ago by a computer nerd, one old Achimotan, Akoto, an Engineer working with Nokia in Finland.
Ghanaweb screamed in its main news of the day, “1bn IFC loan traced at last” raising smiles all around but sourcing the information to an untested source-a Nigerian daily newspaper, “The Vanguard”, one of the many newspapers in the upper crust category.
A Ghanaian using a registered alias Osahene Vinciguera posted “The Vanguard” report to Ghanaweb. The details of the report have drawn British Financial security and regulatory authorities to get involved following follow-ups by the Chronicle into a named Financial company based in the UK in the report.
Curiously, on that very day, “Chronicle” intelligence had had positive sighting of Professor Edward Ayensu, the source of the cash, entering Dusseldolf Flughaven at Airport where the Governor of the Bank of Ghana, Dr Paul Acquah was awaiting his arrival for an onward trip to Luxemburg, the famous haven of off-shore financial houses and home to many international banks.
The pair later went their separate ways after a couple of days, with Ayensu beating a path to Washington and Acquah skunking off to Accra with no bullion van in tow. The cyber report stated that “The Vanguard” traced the sources of the loan through the internet when a curious observer posted a message on the paper website.
It read: “The Vanguard” can confidently say that the $1bn loan package is real and lodged in several Banks in Europe and America.” The paper credited the information to a consultant of KMG Finance Services of the United Kingdom who disclosed that the IFC booty is part of over $16trillion that has been looted by leaders of the Third World, especially Africa and deposited in foreign banks.
Quick inquiries traced the office of the KMG Finance to York Road in a town called Reeigate, a few miles from the Gatwick Airport. A senior Consultant of KMG Finance, Mr Edmund Collins, who said he knew nothing about the deal, later went on the website to retrieve the report citing KMG Finance, contacted his Managing Director who called yours truly later on at the close of business.
She sounded uptight about the linkage of the name of the company to the IFC billions: “I have reported this to the Security Commission you know. It has absolutely nothing to do with us.” She gave her name as Mrs. Palmer, the Managing Director of the company.
The report read inter alia “The Vanguard” gathered that the looted cash which is presently kept in the vaults of Banks in Europe, prominently Switzerland, has been remobilised by a consortium of bankers to offer relief for Third World Countries with extremely soft loans to halt their increase demand of their people cry for the return of their looted money.
The report continued: “The Vanguard” learnt that the secrecy surrounding the identity of the IFC loan could be linked to the historical linkage between the fund and the missing trillions from the Third World.
“Tell the good people of Ghana that the IFC Loan is real, there is no fishy deal here. Even if the package is a sham who loses? Certainly not the people of Ghana and their sovereign state because unlike other international transactions, the recipient nation loses nothing if the transaction is scuttled.” - Ghanaian Chronicle
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