Business in Ghana

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Archive for June, 2012

Ghanaians Obsessed With Negativity: The Pull-Her-Down Syndrome

Posted by Business in Ghana on June 30, 2012

Posted by Georgette Dede Djaba, Legal Eagle

Dynamic, smart and independent women who speak up and challenge the status quo are frowned upon by their communities and ostracised as bad women who do not know their place.  Several Ghanaians who do not want to be associated with this condemned behaviour,  withhold their support and lash out at those they perceive as bringing good women into disrepute. This is most unfortunate, backward and primitive. Read the rest of this entry »

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“Routine” Cash Shortage, Critical News, 24th June 2012

Posted by Business in Ghana on June 25, 2012

Sydney Casely-Hayford, sydney@bizghana.com

This week, Alfred Agbesi Woyome is in court in two separate places.  Judge Barbara Ackah-Ayensu sits on the commercial court of his trial and Judge Ajet-Sam is handling the criminal side.  The first witness in the stand Mangowa Ghanney seems as confused as I am from her own statements.  Not sure whether the news reporting is accurate enough, I decided to attend court the other day and I could not make head or tail of where this prosecution witness was heading.  Later when I read what showed up in print, I was even more confused.  First she said she had no time to write a desk report because she had to travel and then she said she did write a memo with her recommendations.  So I am not sure whether I heard the whole truth or just half of it. Read the rest of this entry »

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Tango With Kumbuor, Critical News, 17th June 2012

Posted by Business in Ghana on June 18, 2012

Sydney Casely-Hayford, sydney@bizghana.com

This has been a difficult week.  Not for me, but for Koku, Betty, Agbesi, Benjamin, Paa kwesi, (the Amissah Arthur version), Fritz and Togbega Gaabusu of the Gbi Traditional Council.  Togbe Sri and the rest of the Awomefia arrived too late to save the ransacking, stealing of regalia and fighting between the Muslim community and the Indigenes of Hohoe.

I am not sure whether we have an ethnic scuffle or a religious war in Hohoe.  Someone or persons exhumed the body of the Imam and triggered a humanitarian crisis for more than 6,000 people who fled Hohoe.  The retaliations have continued throughout the week and suddenly we are not sure whether our religious and ethnic balance is tilting off center. Read the rest of this entry »

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Election Year Excesses, Cedi Depreciation, and Inflation The Current Experience

Posted by Business in Ghana on June 16, 2012

Source: Center for Policy Analysis, Ghana.  http://www.cepa.org.gh

Every election year in the Fourth Republic, especially the hotly contested ones, has been associated with excesses (in spending and behavior), rapid depreciation of the cedi, and accelerating inflation. The most recent to such years is election year 2000 when the excesses led to an exchange rate depreciation (number of cedis per US dollar) 0f 100 percent from 3,500 old cedis at the beginning of the year to 7,000 at the end of the year.

The next after that was election year 2008 when election year excesses led to a fall in the value of the cedi from 1.0152 cedis / dollar in June 2008 to 1.4524 cedis / dollar in June 2009  a year-on-year depreciation of about 43 percent which was halted only by the stabilization program agreed with the IMF. Read the rest of this entry »

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Messing Up 1 Thorpe Street, Critical News, 10th June 2012

Posted by Business in Ghana on June 11, 2012

Sydney Casely-Hayford, www.sydney@bizghana.com

Koku Anyidoho is still employed.  Betty Mould Iddrissu is still walking free, Martin Amidu did not make a comment about my call to honour the tax-payers investment in his life and therefore his allegiance to the people who have looked after him all these years and educated him and the ECG Director never lost his job as per Koku’s instructions.  However, Alfred Agbesi Woyome was discharged and then re-arrested on different charges of causing financial loss to the state through fraudulent means. What can I say, the saga continues.  But at whose expense? Read the rest of this entry »

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Why Government of Ghana Must Implement New Taxes in 2012

Posted by Business in Ghana on June 5, 2012

By Alhassan Atta-Quayson, TWN-Africa, Source: NCOM Newsletter Volume 2.1

In October, 2011, the government of Ghana made a promise that it will increase profit tax paid by mining companies, collect _windfall profit_ tax, and implement a uniform regime for capital allowance of 20% for five years. The government deemed these as some of the steps required to obtain a fair share from the benefits of the country_s non-renewable mineral resources. Given the government_s own concession that _the economic and social benefits that the sector provides are not commensurate with our expectations_, the anticipation has been that those initiatives were going to be implemented fully and in a timely manner. While the budget was approved a few weeks after its presentation, regulations to back these mining sector initiatives are yet to be tabled in Parliament for discussion and approval. It is even reported in the media (such as Ghana_s TV3 Network) that the government has, altogether, shelved the initiatives, at least for the year 2012 when they are most needed. Read the rest of this entry »

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A Peter Principle. Critical News. 3rd June, 2012

Posted by Business in Ghana on June 3, 2012

Sydney Casely-Hayford, sydney@bizghana.com

There is a certain beauty in nature.  After the rain, sunrays break the sky and caress the earth in soft and gentle layers, raising hope for the next rain and the next sun massage.  You know the flowers will bloom again and nature will feed the earth with hope for another day and food for mankind.  There is also a consistency in nature’s way, a way that over the years has stabilized our future, until mankind interferes.

Which we did last Friday when the Ghana Sports Authority floodlights failed and Koku Anyidohu dismissed a non-existing (ECG had no such position as Koku mentioned) official from the ECG and threatened to annex others in the chain on the orders of President Mills.  The fact that the lights were all powered by the Baba Yara stadium genset, did not feature in his tirade.  Watching the Ghana/Lesotho match, I wondered why ECG would leave the lights on in the stands and switch off the floodlights.  Made no sense until the ECG official came to explain.  Koku of course did not hear this part.  Bent on showing some “Milling balls” he fired them in the name of the President. Read the rest of this entry »

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