Business in Ghana

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Archive for October 17th, 2010

Tradition as solution to the excesses of modernity

Posted by Business in Ghana on October 17, 2010

By Kofi Akosah-Sarpong

One of the development issues expected of the modern Ghanaian/African state is how the state, as a rational entity, juggles openly Ghanaian/African traditional values with modern ones. The on-going African enlightenment movement argues for such, as a way of simultaneously refining the inhibitions within the Ghanaian/African culture and appropriating the enabling aspects for progress.

The traditional chief of Ghana’s Ajumako Solomon, Nana Kweku Dawson, indirectly said this when he advised that “the re-introduction of customs such as puberty rites” will “help check teenage pregnancy and the spread of HIV/AIDS.” It is rightly Ghanaian thinker George Ayittey’s “Africa solution to Africa problems.” Ayittey isn’t saying absolute African solution to absolute problems. There are flexibilities. Ayittey is saying pretty much of Africa’s problems could be solved with African values, especially in a highly globalized world where both the good and the bad values criss-cross borders at ease. Read the rest of this entry »


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The Scramble For Ghana’s Oil Begins

Posted by Business in Ghana on October 17, 2010

By Carly Ahiable, Business in Ghana

Some people call it Dino Juice, Texas Tea, Black Gold while other call it the fluid with rising cost but here in Ghana, where the continental shelf is impregnated with oil, crude may be assuming a new name, HOPE (Help Our People to Enjoy). Who want to be hungry and suffer in abundance of oil wealth? Every Ghanaian hopes to enjoy peace and prosperity but how trustworthy are the international agencies and multinational companies in their resolve to develop the oil reserves of Ghana, and keep the nation united and peaceful as they find it? Read the rest of this entry »

Posted in Carly Ahiable, Oil and Gas | Tagged: , , , , , , , , , , , , , | 16 Comments »

The postponement of the signing ceremony of the STX agreement – Matters Arising

Posted by Business in Ghana on October 17, 2010

By Daniel Danquah Damptey,

Ghanaians have not had it as bad as they are experiencing under this cruel, insensitive, divisive, vindictive and clueless regime of Baba Go Slow, alias Professor Do Little. The NDC has at the core of its leadership a cabal made up of sharks, vultures and snakes whose main task is to torpedo all laudable projects/programmes which will be beneficial to Ghanaians by feeding the vulnerable ones amongst us with misinformation, deception and utter lies. Yes, this is the stock in trade of the NDC. Read the rest of this entry »

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Posted by Business in Ghana on October 17, 2010

By Adewale T Akande,

Driving is a serious responsibility with physical and mental abilities impacting on the driving activities of a driver. It is more than moving a vehicle and knowing how to use the accelerator, brake pedals and steering. Driving is at best when you have knowledge and required skills to drive competently in accordance with those rules and regulations guiding the public roads. A safe and responsible driver have responsibility which makes him a good citizen. Driving is a learned skill acquired with much practice. It is also more important to drive with due regards for safety and convenience of other road users. Driving entails concentration, calmness, and with consideration and respect for others. And at the same time, a driver should ensure proper and total control of his vehicle at all times. That means a driver must not allow anything to take their attention from the road, therefore good anticipation and concentration will help to prevent these usual incidents becoming accidents on our roads. The safety of others depends on you when you are on the wheel. Read the rest of this entry »

Posted in Adewale Akande, Transportation | Tagged: , , , , , , , , | 3 Comments »

Politicians Stealing in the name of Politics

Posted by Business in Ghana on October 17, 2010

By Dr. Kwasi Asamoah

This is a short article, but I am using it to address the legalized stealing that has become culture among our elected officials in both the NDC and NPP governments, especially the NPP government of yesteryear.  Most of them have become CAREER CORRUPT CRIMINALS (CCC) and do not deserve to be called HONOURABLES.

We should stop ALL politicians from encroaching on public lands. We do not vote them into office for them to scramble to acquire public lands to the disadvantage of the ordinary Ghanaian and Mother Ghana. Read the rest of this entry »

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Posted by Business in Ghana on October 17, 2010

By Kwaku Adu-Gyamfi, THE VOICE OF  REASON

ONCE UPON A TIME, the Niger Delta was calm until the oil find

Making the politicians’ bank accounts feel like fluid

Swimming in money like Tsunami flood

Eating, drinking and partying like no tomorrow

While the citizens go to bed with empty tummies

You wonder   why Delta is burning Read the rest of this entry »

Posted in Kwaku Adu-Gyamfi, Social Services | Tagged: , , , , , , | 3 Comments »

Pondering Africans’ beginnings for advancement

Posted by Business in Ghana on October 17, 2010

By Kofi Akosah-Sarpong

The Accra Sports Stadium was re-named Ohene Djan Stadium by the former ruling National Patriotic Party (NPP) in 2004. Then the Ohene Djan Stadium was re-named again as Accra Sports Stadium by the Accra Metropolitan Assembly (AMA) September, 2010.

The first naming was innocently nationalistic, the second on purely ethnic feelings. This has set off an irate debate that had larger implications than AMA had thought of. This is expected, considering the manner African nation-states were created some 50 years ago. The controversy has also opened the debate about where the entire Ghanaian, and for that matter African, ethnic groups came from to their present abode. AMA’s argument has raised insightful public talks for Ghanaians and other Africans. Prof. Jacob Ade Ajayi, the eminent Nigerian historian and editor of General History of Africa (1989), who has done a lot work in this context, will be of help as a clarifier. Read the rest of this entry »

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A Regulator’s Dilemma: Market Dynamics v 3rd Parties

Posted by Business in Ghana on October 17, 2010

By Sydney Casely-Hayford.

At a recent SME conference hosted by the accounting body, ACCA and the Enterprise Development Service (EDS) of the University of Ghana Business School (UGBS), Retired Captain Budu Koomson from UT Financial Services and UT Bank, explained his version of SME recalcitrance, which makes access to finance and support to the sector problematic at the best, but certainly not impossible.

Some important bottlenecks identified by a thirteen-year practitioner, grouped into 3 pillars.  Government, SME’s and Banks.  Poaching from the Retired Captain’s notes, out of the 6 anchors under Government, we can blame our leaders, who have not put together a regulatory framework with strong institutions to support SME’s.  The Banking environment anchors around 5 points including a chaotic environment and latent mistrust of the SME sector.  But SME’s themselves are faulted for various cultural practices and social (extended family and friends) pressures.

And this is where our problems emanate. Read the rest of this entry »

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The SME Conundrum

Posted by Business in Ghana on October 17, 2010

By Sydney Casely-Hayford,

We are paralysed in such a way that our thinking capacity is hemmed in by old age practices and cultural norms that threaten to collapse our entire financial system.  Our way of doing things makes corruption a norm rather than a cancerous option to be avoided, replaced by sound financial management and good book keeping at the least.

What has now come to be known as the “UT Way – a loan in 48 hours” is fast challenging the traditional banks, as recent upstart in the financial sector, UT Bank takes over from the orthodox way of business as usual.

Last week, 8th October, Retired Captain Budu Koomson of UT Bank provided great insight into possible solutions for the SME conundrum of access to finance.

Successive Governments tout the private sector as the engine of growth for Ghana and in consequence the SME sector becomes the focus for all planning but unfortunately, more rhetoric than action.

Presenting his concepts for “curing” the SME problem, Budu Koomson described three pillars and several anchors to pin these pillars down for possible resolution to our SME conundrum.

Government, Banks as Suppliers and SME’s.  A crisp list of his views needs very little elaboration. Read the rest of this entry »

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