Business in Ghana

We Understand the issues that make the News

Archive for September, 2012

You Turn, Utong. Pees Chasing Cee. Critical News, 30th September 2012

Posted by Business in Ghana on September 30, 2012

Sydney Casely-Hayford, sydney@bizghana.com

I need more detail on the NPP’s financial solution to free SHS.  I want the scheme in place, I have 4 wards in various stages of school and I feel the pinch severely when term starts.  On average, it costs no less than ghc200 even if it is a Government assisted school.  Textbooks, exercise books, school uniforms, bags, shoes, transport fares, and it goes on.  The way I am looking at it, if I get to save that money with a free education policy, I get to have minimum disposal income of some ghc2,400 per year (200cedis x 4wards x thrice a year).  It works out more than that, but using this as a thought, can you imagine the lighter load parents will have?  That is why it is absolutely important that this can happen.  It matters not which party does it, I just would like to see it happen.  But the numbers are not yet clear to me and I have not heard a very well thought out financial plan from the CPP or NPP or PPP.  The NDC is not offering free SHS education on the grounds that it cannot be done for at least 20 years ala their education minister.  The idea is long overdue. Read the rest of this entry »

Advertisements

Posted in Critical Weekly News, Sydney Casely-Hayford | Tagged: , , , , , , , | 2 Comments »

Kwame Brown due in court before November sentencing

Posted by Business in Ghana on September 27, 2012

Brown resigned from office before pleaded guilty to a fraud charge in June. (Haraz N. Ghanbari – AP)Former D.C. Council Chairman Kwame R. Brown will unexpectedly have to appear before a federal judge in October, more than a month before he is due to be sentenced for bank fraud.

U.S. District Judge Richard J. Leon scheduled a “Hearing on Violation” for Oct. 9. Read the rest of this entry »

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

Eni Makes First Commercial Oil Find Offshore Ghana

Posted by Business in Ghana on September 25, 2012

by  Eni S.p.A.
Eni has made the first oil discovery in the Offshore Cape Three Points (OCTP) block, located in the Tano Basin offshore Ghana, about 31 miles (50 kilometers) off the coast of Ghana. The discovery is relevant as it may have the potential for commercial development and confirms the importance of the block also in terms of the presence of oil, as well as natural gas and condensates.

Eni plans for the immediate drilling of other wells to delineate the size of the discovery and confirm the feasibility of commercial development. Read the rest of this entry »

Posted in Oil and Gas, Uncategorized | Tagged: , , | Leave a Comment »

Finance Minister signs three World Bank funded projects totaling US$210 million

Posted by Business in Ghana on September 25, 2012

 Accra, September 25, 2012 – The Minister of Finance and Economic Planning, Dr Kwabena Duffuor today signed three world bank funded projects: Ghana Commercial Agriculture Project (US$100 million), West African Agriculture Productivity Program (US$60 million) and Urban Water project (Additional Financing of US$50 million), totaling US$210 million to support the Government of Ghanas efforts to sustain economic growth, and maintain its middle income status. Read the rest of this entry »

Posted in Agriculture, Uncategorized | Tagged: , | 2 Comments »

NPP Manifesto on Agriculture is Bogus and Fraudulent

Posted by Business in Ghana on September 24, 2012

Ali-Masmadi Jehu-AppiahPan-Africanist International

For a thousand dollars, you could have had good government; for five thousand dollars, you can have any kind of government you want!’ – Russell Long on the effect of money in political campaigns.

Introduction

The NPP needs to clarify the nature of the agricultural mandate they plan to execute, if voted into power, as stated in their Manifesto for Election 2012, Chapter Three: Section 7. Modernizing Our Agriculture and Ensuring Food Security. Those of us who have been monitoring the NPP’s not-so-clever fund-raising tactics, particularly, their dubious and clandestine relations with international corporations, were not in the least surprised to see what the NPP claims in its 2012 Manifesto, as their plans for Ghana’s agriculture. It is nothing short of criminal. Is the NPP asking for the mandate of Ghanaians to introduce Genetically Modified seeds into our food chain? That is the question! Read the rest of this entry »

Posted in Agriculture, Politics, Uncategorized | Tagged: , , , , , | 2 Comments »

Waking Up To The Price Of Corruption

Posted by Business in Ghana on September 23, 2012

Ben Ofosu-Appiah, Tokyo, Japan.

South Korea went from a poor country devastated by war to an OECD member in 50 years. In the same period of time Ghana went from a country with a high potential for take off to one that stagnated at best and standards of living declined or backwardness.

About $500m of public funds are embezzled or misappropriated every year even when over 40% of the people live below the poverty line ($1.25/day). Majority of people do not have electricity, clean drinking water, and access to primary health care. Public Accounts Committee (PAC) inquiries since 2000 have seen billions of dollars of state money misappropriated but very few prosecutions and negligible success in retrieving these stolen cash. Corruption destroys development and we all, I believe want our country to develop to become an advanced society with just opportunities for all. Dissipation of national revenues through corruption has left little legacy of development. Read the rest of this entry »

Posted in Ben Ofosu-Appiah, Politics | Tagged: , , , , | Leave a Comment »

The Ultimate U Turn. Critical News, 22nd September 2012

Posted by Business in Ghana on September 23, 2012

Sydney Casely-Hayford, sydney@bizghana.com

Accra seems subdued.  It is quiet all over.  Election fever is yet to catch and we are all fed up with at-variance politicians.  There is nothing said by one side that is not countered by the other side as wrong or evil, and I am pointing at the NPP and the NDC parties, whose perennial promises and disagreements just seem to weigh heavily on the daily toil.  No consistent water, on-today-off-tomorrow electricity, poor communication services, call drop out, no internet access and definitely no access to finance. You struggle to keep an everyday domestic front only to get to the office and fight even harder to get a rhythm in business.  Ghanaians are not struggling; we are taking a bashing.  My business involves helping clients to find financial solutions to their business needs and currently Ghana is the worst place for providing such solutions. Read the rest of this entry »

Posted in Critical Weekly News, Sydney Casely-Hayford | Tagged: , , , , , , | 8 Comments »

Can A Vampire State Achieve A Great Leap Forward? Analyzing the Political Economy of Ghana

Posted by Business in Ghana on September 23, 2012

Ben Ofosu-Appiah, Tokyo, Japan.

South Korea went from a poor country devastated by war to an OECD member in 50 years. In the same period of time Ghana went from a country with a high potential for take off to one that stagnated at best and standards of living declined or backwardness.

In many parts of the country, hundreds of kilometers of colonial roads have disappeared, schools and clinics are in dilapidated state and social infrastructure have been allowed to collapse. In 55 years not even a single kilometer of railway line has been constructed and the one the colonial rulers left have been allowed to deteriorate and collapsed. Something is definitely wrong and needs to be put right now. Leadership failures and an incurable greed have been our bane. Our motherland is under enormous strain today due to the unbridled quest for material gains using the state machinery. Cronyism, nepotism, favouritism, political patronage are turning the democratic governance on its head. When will political leaders ever roll up their sleeves and get to work for mother Ghana rather than seeking to fill their pockets first acquiring material gains? Read the rest of this entry »

Posted in Ben Ofosu-Appiah, Politics | Tagged: , , , | Leave a Comment »

Woyo 2 PaC, and NDP Protagonists. Critical News, 16th September 2012

Posted by Business in Ghana on September 16, 2012

Sydney Casely-Hayford, sydney@bizghana.com

We finally did what Ghana does best when we are in dire straits.  We deflected the intervention to the Clergy and a “Collective National Consciousness” to resolve a looming constitutional crisis with religious persuasion.  After the TUC, CDD, GII and others including former Finance Minister Yaw Osafo Marfo added their pleas, the Electoral Commissioner, Dr. Kwadwo Afari Gyan, chose to stay with the law.  “District-Four-Five” has dragged Parliamentarians to work during their break, with complaints from many of them that there really is no work to do.  This week, we lost a couple of days because papers for discussion were not ready and therefore no business could be traded.  Then again we had no quorum in the house and Parliament failed to sit.   The NPP minority claim the only reason Parliament is back is for CI78 to mature.  The NDC say there is other business, yet when Parliament was recalled, I distinctly heard the Government side say it was to ensure that the CI78 would get the mandatory 21 days sitting.  This week, I have had it up to my chin about this 45 districts matter.  The Supreme Court has set Wednesday 19 September to hear the interlocutory injunction to stop Parliament from discussing CI78.  There are several other cases piling up on the same and related matter and the Supreme Court has to rise to the level of conscious urgency we require.  This is not the time to stay within a strict holiday regime. Read the rest of this entry »

Posted in Critical Weekly News, Sydney Casely-Hayford | Tagged: , , , , , , | 2 Comments »

Cee Eye Whatever, Madam Speaker. Critical News, 9th September 2012

Posted by Business in Ghana on September 9, 2012

Sydney Casely-Hayford, sydney@bizghana.com

President John Mahama gave a speech to the people, it was meant to be a policy statement.  The NPP said it was just paragraphs of platitudes.  I found some sense in some of the things he said, and the way to a Better Ghana.  Daily Graphic did a 6-page verbatim pull out on 5th September.  My favorite portion goes thus “Contractors who have done their projects will be duly paid without any further delay and I have instructed the Minister of Finance to provide Cabinet with a detailed presentation of any arrears owed to contractors this month and to indicate the steps being taken to effect payments forthwith”.

I kindly request of the President that when this is done and payments have been made, can he kindly ask the Minister of Finance to publish the names of the contractors, how much they were owed and how much paid?  I have a particular interest, because some big contractors owe me money for services rendered and I keep hearing that as soon as Government pays them, they in turn will pay me.  With one of them, it is nearly 14 months.  This is my personal and selfish request, Sir. Read the rest of this entry »

Posted in Critical Weekly News, Sydney Casely-Hayford | Tagged: , , , , , , | 1 Comment »