Business in Ghana

We Understand the issues that make the News

Archive for October, 2010

A Snap shot of the World Bank and IMF Annual Meetings: How to achieve a world without poverty!

Posted by Business in Ghana on October 18, 2010

By Franklin Cudjoe, Washington, D.C., www.imani.org

The World Bank and the IMF have not had many friends in the developing world since post-Structural Adjustments days, when their advice and interventions, largely backed by aid yielded slow and negative growth.  It is the case though, that dealing with the two Bretton Woods institutions is like loaded dice. In one breadth they provide you with advice, and then in another, they continue to support countries that fail, even when their failure did not originate from bad advice, but essentially rooted in disrespect for the most basic institutions needed to effect real change.

Take Ghana, for instance.  Not all the IMF and World Bank’s involvement in our mostly self-inflicted tottering economy in the 1980s come to doom and gloom? There were significant gains, which could have been used to diversify our agrarian based economy- yet we watched politicians splurge most of the gains on the 1992, 1996 and 2000 general elections. And just when our strangling debts were paid off, with a promise to ‘taking off’ into the middle income bracket, we watered down the gains again in 2008, with a world record deficit of almost 20% to GDP- mostly incurred as a result of light-speed spending, mainly outside of the budget and ostensibly to chase political votes. Read the rest of this entry »

Posted in Financial Services, Franklin Cudjoe | Tagged: , , , , , , , , , | 2 Comments »

Finally, Some Sense in National Planning

Posted by Business in Ghana on October 18, 2010

By Kofi Akosah-Sarpong

The proposition by the chair of Ghana’s National Development Planning Commission, P. V. Obeng, that stakeholders in the financial sector should factor in the informal, traditional sector not only go with the current enlightenment thinking but it also reveals the ongoing attempts by Ghanaian policy-makers to think hard from within their traditional values for progress.

The reason for such thinking today, as we build-up on various attempts in this regard some 50 years ago, is that the informal, traditional sector has for the past 50 years been neglected and not grounded in national policy planning. Read the rest of this entry »

Posted in Financial Services, Kofi Akosah Sarpong | Tagged: , , , , , , | Leave a Comment »

Stakeholders Chart Release of Vitamin A Cassava in Nigeria

Posted by Business in Ghana on October 18, 2010

By Paul Ilona, www.harvestplus.org

Ibadan, October 13, 2010: Ahead of the World Food Day which comes up on 16 October 2010, agriculture and health experts are holding talks in Ibadan to discuss the progress made in breeding new varieties of cassava that can provide Vitamin A through the diet.

The nutritionally-improved cassava will give more Nigerians access to Vitamin A and help fight ‘hidden hunger.’

Pre-varietal release trials of the varieties across the country have proven that farmers find them irresistible. Read the rest of this entry »

Posted in Agriculture | Tagged: , , , , , , , , , | Leave a Comment »

Corruption not the Cause of High Costs of Trucking

Posted by Business in Ghana on October 18, 2010

By West Africa Trade Hub, www.watradehub.com

For policy makers in West Africa, the key conclusion of this report is that the cost to deliver a container from Tema to Ouagadougou is about five times the cost to deliver the same container from Newark to Chicago, a route of roughly equal distance. This is despite the fact that trucker salaries in the USA are roughly 25 times higher. And the trip takes as much as four times longer.

In 2005, “everybody” knew that the high cost of transport and logistics in West Africa was due to official corruption at roadway checkpoints. The authors of this report have researched that question and, according to their findings, it seems “everybody” was wrong. Read the rest of this entry »

Posted in Transportation, Uncategorized | Tagged: , , , , , , , , , | Leave a Comment »

The Jubilee House For A Museum; What Are We Smoking?

Posted by Business in Ghana on October 18, 2010

By Kwaku Adu-Gyamfi (Voice Of Reason)

Are we serious?

I’m not happy. And you shouldn’t be either.

What has me incensed is the fact that two former ministers are talking about wrong issues.

Oh lordy, our vision- impaired and ideas- deficit   politicians never cease to surprise me with their diatribes and time- consuming insinuations.

It’s beyond astonishing to me  that two former ministers  devoted their time  to stir-up  a debate –which doesn’t give the country any dividend—instead of  tackling some of our  everyday  issues .  They’re  yakking while the   plastic bags have  choked up our sewage system, schools are  mis-educating  our  children and  unemployment is stealing  our  youth’s  desires and  aspirations. Read the rest of this entry »

Posted in Kwaku Adu-Gyamfi, Social Services | Tagged: , , , , , | Leave a Comment »

Africa needs more seed companies to push out improved maize varieties

Posted by Business in Ghana on October 18, 2010

From Godwin Atser, www.CGIAR.org

African governments have been urged to encourage the emergence of more seed companies that will multiply, market, and disseminate improved maize varieties to farmers to boost food production.

So far, in the West African region, only Nigeria has a relatively vibrant seed industry with about 12 emerging private sector-driven seed companies. Ghana and Mali have three each, while the Republic of Benin has none.

Researchers say this development needs to change for Africa to taste the much awaited Green Revolution. Read the rest of this entry »

Posted in Agriculture, Godwin Atser | Tagged: , , , , , , , , , | Leave a Comment »

SMEs Appeal For Removal of Hurdles to Access Bank Loans

Posted by Business in Ghana on October 18, 2010

By Carly Ahiable, Business in Ghana

Owners of small businesses in Accra have appealed to commercial banks to ease their rigid conditionality for loans to make it possible for more small and medium enterprises (SMEs) to access funds to develop their business.

The made the appeal during questions and answers time at the second day of a two-day business focused seminar dubbed “Nkontabuo Krakye” seminar developed to get SMEs operators to master and manage their businesses to improve profitability.

The “Nkontabuo Krakye” is carved out of a weekly business programme on an Accra radio station, the Asempa FM that educates SME practitioners on proper business management and record keeping. Read the rest of this entry »

Posted in Carly Ahiable, Financial Services | Tagged: , , , , , , , , , | Leave a Comment »

Combating Poverty: New Battle Gear for an Ancient War

Posted by Business in Ghana on October 18, 2010

By Lansana Gberie, Sierra Leone

(A review of Combating Poverty: Structural Change, Social Policy and Politics: A Report by United Nations Research Institute for Social Development, UNRISD, August 2010)

Since antiquity the problem of poverty has engaged the consciences of statesmen and thinkers, but few have dared to draw the obvious context – and fuel – for it: inequality. In the happier days of the Roman Empire almost 2000 years ago the estimable Trajan, one of the great Caesars, introduced the Alimenta, which was an ambitious welfare program to help the poor, especially orphans and destitute children, throughout the Italian part of the Empire. Food and education were subsidized. This was the earliest record of a welfare program on such a scale, and it won wide plaudits for Trajan. The great English historian of Rome, Edward Gibbon, surveying this era and particularly admiring of Trajan, wrote that if someone were to “fix the period in the history of the world, during which the condition of the human race was most happy and prosperous, he would, without hesitation” name the 80 years of the Roman era which included, and was rather dominated, by Trajan’s rule. This was the period of the great Roman peace. Read the rest of this entry »

Posted in Lansana Gberie, Social Services | Tagged: , , , , , , , | Leave a Comment »

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 »

Posted in Kofi Akosah Sarpong, Social Services | Tagged: , , , , , , , , , , , , | Leave a Comment »

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 »