Business in Ghana

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Archive for November, 2010

A Message For Cocoa Board, GNPC and TOR

Posted by Business in Ghana on November 30, 2010

By Kwaku Adu-Gyamfi (Voice of Reason), NJ, USA

For Ghanaians to get real equity, please list these companies on Ghana Stock Exchange Market, anything less is just a joke.

Who are the true owners of the Cocoa Board, TOR and GNPC?

Why can’t ordinary Ghanaians buy shares in Cocoa Board and GNPC or TOR, if they’re the true owners   of these companies? Read the rest of this entry »


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

Illicit Drugs And Politics – The Way Forward Between The Devil And The Deep Blue Sea

Posted by Business in Ghana on November 29, 2010

By Georgette Dede Djaba, LLM Solicitor, London ,  29 November 2010

I have been extremely fascinated by developments over the past week in Ghana with regard to illicit drugs and Politicians.

On the one hand, in the red corner, we have heard the indefatigable and formidable lawyer and politician, Nana Addo Dankwa Akufo-Addo stating categorically that he has never done drugs and in the blue corner, Hon. Ama Benyiwa Doe MP, Minster for Central Region stating that all NPP members are drug peddlers.  What is the perception of Ghanaians abroad?

Our community based radio stations in London, in particular Focus Radio were jammed with callers asking Nana to provide a medical report to silence his critics such as the controversial maverick politician/comic Kofi Wayo called for proof of Nana’s assertion by way of blood test and current medical report.  Medical reports are confidential in the UK. Read the rest of this entry »

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So why all the Fuss about Ghana’s 2011 Budget?

Posted by Business in Ghana on November 28, 2010

Courtesy of IMANI ( and

Ghana’s latest budget has been met with uproar in some quarters.

There is no dismissing or diminishing the fact that under trying circumstances the ruling government has been working hard to balance its books and stabilise the economy.  There may be some disputes over the precision of measurements and accounting conventions, but the evidence does point to some clear successes on the macroeconomic front.

The strengthening cedi has of course led to a significant boost in imports, but in real terms (accounting for inflation) the increase is in line with recent trends in the current account, and is thus not exactly scary (which is what you would expect if the currency had been artificially overvalued). Read the rest of this entry »

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African Farmers Get Boost from IFC, Soros Economic Development Fund and Esoko

Posted by Business in Ghana on November 22, 2010

IFC, a member of the World Bank Group, and the Soros Economic Development Fund have both invested $1.25 million of equity into Esoko, a Ghanaian technology firm. The investment in Esoko will give small holder African farmers and businesses timely crop information that can be shared via text messaging, enabling farmers to increase their incomes.

Esoko_s software takes advantage of rapidly growing mobile-phone usage in Africa.  The technology allows farmers affordable and timely access to market information that can help them negotiate better prices and improve the timing of getting their crops to market. Read the rest of this entry »

Posted in Agriculture, Science and Technology, Uncategorized | Tagged: , , , , , , | 1 Comment »

Kosmos submits Declaration of Commerciality to Ghana, Tullow to issue 4 million shares on GSE

Posted by Business in Ghana on November 14, 2010

By Emmanuel Dogbevi, Ghana Business news

Kosmos Energy, one of the stakeholders in Ghana’s Jubilee oil field where Ghana’s first commercial production of oil is expected in December has submitted a ‘Declaration of Commerciality’ to the Ghana government. The Declaration, it says is for the southeast Jubilee area. And Tullow Oil plans to issue four million shares on the Ghana Stock Exchange (GSE). Read the rest of this entry »

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More Bonds Needed

Posted by Business in Ghana on November 14, 2010

Ghana’s economy is 75 percent bigger than previously calculated, the country’s Statistical Service said, slashing the relative size of the fiscal deficit and the current-account shortfall.

The West African nation’s gross domestic product this year is 44.8 billion cedis ($31.2 billion), compared with the previous estimate of 25.6 billion cedis, Grace Bediako, head of the Accra-based agency, told reporters today.

“The revisions will be a huge positive for the relative risk matrix” of Ghana, Stephen Bailey-Smith, an analyst at Standard Bank Plc in London, said in a note to clients. The changes “should foster a rating upgrade.” Read the rest of this entry »

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Ghana is the Global Top Reformer in Improving Access to Credit

Posted by Business in Ghana on November 14, 2010

and still Overall, the Easiest Place To Do Business in West Africa.

Ghana has established Africa’s newest centralized Collateral Registry and by improving credit information and legal rights through granting an operating license to a private credit bureau, the West African country led the world in making it easier for businesses to obtain credit.

This is a finding of Doing Business 2011:  Making a Difference for Entrepreneurs, the eighth in a series of the flagship annual reports published by IFC and the World Bank benchmarking the regulations that enhance business activity and those that constrain it.  The report presents qualitative indicators on business regulation and the protection of property rights for 183 economies _ from Afghanistan to Zimbabwe.  The data are current as of June 2010. Read the rest of this entry »

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Remittances to Africa Resilient Despite 
Global Financial Crisis _ World Bank Study

Posted by Business in Ghana on November 14, 2010

Ghana-bound flows to rise modestly in 2010

Remittance flows to Sub-Saharan Africa will reach US$21.5 billion this year after a small decrease in 2009 due to the global financial crisis, according to Migration and Remittances Factbook 2011, a World Bank publication that tracks documented private transfers of funds and migratory patterns around the world. Read the rest of this entry »

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Ghanaian Technology Enterprise Boosts Africa in Prestigious Global Contest

Posted by Business in Ghana on November 14, 2010

After pitching their security innovations to a panel of judges before a live audience of investors, industry, government, VCs and peers, mPedigree and iWebGate have been awarded prize packages totalling $500,000. This followed a rigorous selection process lasting months, in which hundreds of hopeful innovative companies were narrowed down to 7 contestants in a climactic showdown at the University of London. Read the rest of this entry »

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