Business in Ghana

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Archive for November 17th, 2013

Reverse Gear. Critical News, 17th November 2013

Posted by Business in Ghana on November 17, 2013

Sydney Casely-Hayford, sydney@bizghana.com

If ever there is a clear visible indicator of economic downturn in Ghana, it is on the streets of Accra, Kumasi, Takoradi and Koforidua.

Accra, Saturday morning, driving from McCarthy Hill to Kaneshie, a trip that takes at least an hour, I was at the Obetsebi-Lamptey roundabout and on to the Graphic Road overpass in twenty-three minutes flat.  The usual hawkers selling neatly nestled “puna yam” propped in stiff arms, practicing balancing principles fashioned by poverty un-wants, were all sitting by the wayside, the fast-moving traffic making their morning trade temperate and disappointing.

I was heading for Osu Oxford Street, needed to get something interesting but useless for a visiting friend.  You know, the cloth bands with Ghana emblazoned, or a cheap mask, poorly finished and black polished, maybe a bangle of cheap brass, like that.

So I nearly go through Oxford Street without realizing it.  There is no traffic on the road, it is about eleven O’clock and I am elated, then suddenly my money and economic nose kicks in and I wonder why so light?  Now I am talking to all the vendors, trying to understand what it is.  Kwaku Seth, trying to sell me some cheap woven stuff for two cedis, gets fed up and abandons me after I ask more questions than make a purchase, Affum Essien (he took his last name from you know who) pumping me to buy a belt I do not need and Binka from Burkina Faso, in a wheel chair, hawking cheaply finished brass products, using his handicap for emotive selling.  Then the crown jewel of my morning popped up. Read the rest of this entry »

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World Bank support for development of Public Private Partnerships (PPP) in Ghana

Posted by Business in Ghana on November 17, 2013

The Ghana IDA Public Private Partnership (PPP) Project for $30 million became effective in December 2012. The World Bank_s counterpart for this project is the Public Investment Division within the Ministry of Finance and Economic Planning (MoFEP). The project comprises of three components: Component One: Institutional, Fiduciary, Legislative, and Financing Capacity Building – focuses on developing in-house capacity within the Government of Ghana to identify, assess, develop, implement and manage PPP transactions. Furthermore, the component provides Legislative, Regulatory, Policy and Guidelines Development Technical Assistance; provides resources for the development of a Framework for Managing PPP Fiscal Commitments; and finally, supports a framework for a Long Term Financing for Infrastructure. Component Two: PPP Pipeline Preparation and Transaction AdvisorySupport _ focuses on supporting the Government of Ghana to develop a commercially viable PPP pipeline of competitively-bid PPP projects to financial close. Component Three: Project Management and Monitoring &Evaluation _ focuses on financing specialized consultant services to assist MoFEP in project implementation. Read the rest of this entry »

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