Business in Ghana

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Archive for May, 2014

Show Me The Wakinns. Critical News, 25th May 2014

Posted by Business in Ghana on May 25, 2014

Sydney Casely-Hayford, sydney@bizghana.com

Have you ever had to charge your phone for twelve cedis?  Fuseini and his team at Madina got the benefit of my largesse when I force stopped at their workshop.  Desperate and needing to put some juice in my phone so I could ask for directions to where I was heading, “Lucky Boys Cleaning System” off road side also needed fuel for their generator so they could finish off some orders; “dumsor” since morning had pushed them to the brink of contractual failure.  It was 5.35pm.

Donning bright yellow decorated T-shirts and jeans, glorified underpants on display in defiant repugnance, we worked out a compromise.  I would buy a gallon of petrol and they would plug my phone in for as long as I needed.

I was pleased to help some brothers out, leverage a dig at ECG with this piece and middle-finger Government for its non-delivery of a Better Ghana.  I have never understood the slogan anyway.

So thanks guys, “abusua” forever.

I don’t know what more to say about Subah Infosystems, GRA and motorbike contracts and unraveling JOSPONG Group sagas.  Every where you turn, either Jospong or RLG is taking free tax-payer money and walking away or some government official is lying about how cash actually kind of oozed into their bank accounts.  What is going on with these two companies is simply boggling. Read the rest of this entry »

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Pragmatic and Effective Market Oriented Reforms, Key to China’s Economic Growth: Prof Bala Ramasamy

Posted by Business in Ghana on May 22, 2014

From Ben Ofosu Appiah, Japan

Through pragmatic and effective market oriented reforms, China has been able to lift over 300 million of its people out of poverty in the last 30 years, an economic achievement no other country has accomplished in the past. This was disclosed by Professor Bala Ramasamy, professor of Economics at China Europe International Business School (CEIBS) in an evening of Strategic Conversation on the topic: Enter the Dragon: Policies to Attract Chinese Investment, at the CEIBS Africa Auditorium in Accra, Ghana on Monday 19th May, 2014.

On how China was able to do this, Prof Bala referred to the famous saying of the former Chinese Premier Deng Xiaoping, the architect of Chinese economic reforms, “crossing the river by feeling the stones” to describe the gradual , experimental way reforms were implemented. These reforms according to the professor were aimed at balancing growth  with social  and economic stability. A mix of fiscal, administrative and employment creation policies were introduced  and local government officials were rewarded for delivering on key reform goals: growth, Foreign Direct Investment (FDI), employment and social stability. Read the rest of this entry »

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An RAF Sentinel bound for Nigeria to find more than 200 kidnapped schoolgirls has been forced to land for repairs in Senegal

Posted by Business in Ghana on May 20, 2014

RAF Spy Plane Breaks Down On Way To Find Nigerian Schoolgirls

By Ben Farmer, Defence Correspondent

The Sentinel R1 was forced to divert to Senegal with a “technical issue” and will be grounded until repairs have been completed.

The unexpected delay is a repeat of last year’s embarrassment for the Ministry of Defence when a C-17 transporter sent to help French troops in Mali was also temporarily grounded by technical trouble.

David Cameron offered the Sentinel to the Nigerian government to use its advanced ground scanning radar to hunt for more than 200 school girls abducted from a school hostel last month.

The modified executive business jet left RAF Waddington on Sunday bound for its new base in Accra in Ghana, where it will be stationed while flying across northern Nigeria.

However the crew reported technical problems midway through the flight.

An RAF source said: “We had a choice of turning around and coming home, or landing en route.” Read the rest of this entry »

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Anglogold Bites Bullet At Troubled Obuasi

Posted by Business in Ghana on May 20, 2014

By Brendan Ryan, Business Day Live

AngloGold Ashanti intends shutting down underground operations temporarily as part of a drastic final attempt to turn troubled mine around

HAVING lost more than $1bn on the Obuasi mine in Ghana since it took it over in 2003, AngloGold Ashanti now intends shutting down the underground operations temporarily as part of a drastic final attempt to turn the troubled mine around.

Announcing the decision at the group’s March quarterly briefing on Monday, CEO Srinivasan Venkatakrishnan outlined sweeping measures, including the retrenchment of most of the 6,500-strong workforce, to ensure Obuasi’s long-term future.

Mr Venkatakrishnan also said AngloGold Ashanti “was considering other strategic alternatives for its Ghana business”.

SBG Securities mining analyst David Davis said: “At long last they have bitten the bullet at Obuasi, but in a constructive manner.”

Mr Venkatakrishnan said $600m had been pumped into Obuasi from AngloGold Ashanti’s corporate funds, a nd $500m more had been invested through funds generated by Obuasi itself.

Asked to elaborate, Mr Venkatakrishnan said it was possible that a partner could be found to invest in Obuasi once the problems had been sorted out. Read the rest of this entry »

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Nigeria Abducted Schoolgirls: RAF Plane Sets Off

Posted by Business in Ghana on May 19, 2014

Taken from the BBC website, this story is too important for Ghana to look askence, hence I am breaching copyright

An RAF spy plane has left the UK to help search for 223 schoolgirls abducted by extremists in Nigeria.

The Sentinel R1 plane, which has a crew of five, took off from RAF Waddington, Lincolnshire, at 09:25 BST on Sunday, the Ministry of Defence said.

Boko Haram Islamic militants took the schoolgirls, who include Christians and Muslims, on 14 April in north-eastern Nigeria, where the group is based.

African leaders meeting in Paris have declared “war” on the group. Read the rest of this entry »

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One Casket Too Many. Critical News, 18th May 2014

Posted by Business in Ghana on May 18, 2014

Sydney Casely-Hayford, sydney@bizghana.com

I lost my sense of humor after I spent three challenging days with Paul Victor Obeng, someone I did not take to in the PNDC days but subsequently after his departure from that Junta, I met often and appreciated better the challenges of managing a party which made up its ideology as it went along; more in-fighting than out-managing the affairs of state.  Fondly, as PV, he explained more to me about the inside dynamics of governance than I dare write.

This past week we joked about your memoirs and when it would be ready, we watched Bukom Banku win a fight well into the night while I censured you for staying up too late, to, once again be in the youth space.  When you pitched words throughout the commentary to one Azonto song or the other, we all laughed with and at you.

But we parted Akosombo as you went off to meet with the Ministry of Finance team to urge them to speed up work on the Public Private Partnership law, now a necessary pillar of the Senchi turnaround strategy.

PV what can I say to make it easy on those you have left behind.  Following Kofi Ansah and Asenso Okyere, I don’t think I can find a casket your size in Ghana.  May you rest in peace.  Damirifa due due.  Damirifa due.

The week was dominated by stories from the National Economic Forum held at the Royal Senchi Resort near Akosombo, where we were “senchified” with the letters “RSR”.  For my compatriot Franklin Codjoe and myself, we found a meeting of minds so experienced; we simply soaked the knowledge and contributed our quota as required. Read the rest of this entry »

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We’ve Achieved 85% Self-Sufficiency In Rice Production Says Nigeria

Posted by Business in Ghana on May 17, 2014

BY NIYI ODEBODE AND OKECHUKWU NNODIM

Nigeria is currently between 80 and 85 per cent self-sufficient in the production of paddy rice.

The Minister of Agriculture and Rural Development, Dr. Akinwunmi Adesina, who disclosed this at a press conference in Abuja on Friday, said the agricultural policy of the Federal Government had started yielding fruits.

He stated that as part of the transformation agenda of the President Goodluck Jonathan administration, the government was transforming agriculture from a social service into a business.

According to him, the sector will be private-sector driven and investment-focused.

The minister said by 2015, the country would produce 20 million metric tonnes of food.

He stated that the Federal Ministry of Agriculture had been decentralised as part of the transformation agenda.

Adesina said the ministry had offices in 36 states, and six zonal offices.

The minister further said that the administration had ended corruption in fertilizer and seed distribution and noted that seed companies in the country had increased from five in 2011 to 80. Read the rest of this entry »

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A Palaver Of Unlike Minds. Critical News, 11th May 2014

Posted by Business in Ghana on May 11, 2014

Critical News, 11th May 2014

Sydney Casely-Hayford, sydney@bizghana.com

Oh, I struggled with this one.  I stumbled into mediation for a couple last week end.  As a rule I never get between couples, but this was very dear to my soul and I have their permission to use their story, definitely not their names.

Paapa and Akosua have been bickering on big, small issues for so long, three children all grown up and left home, they have a whole new set of problems.  Work, girlfriend, attention, fellowshipping etc..  Akosua is an avid Church goer, Paapa is still not convinced that all the solutions are with the Lord on high.  Money wahala too dey inside big time.

Left alone, no children to occupy them, PaaAkosua have resorted to fisticuffs, so bad, we were in the hospital removing stitches from her lower jaw.  A very repentant him was embarrassingly in the doorway, cowering from medical eyes, melding into the recesses of the curtains.

After we gingerly make it down the stairs and back home, I am confronted with a possible suit for assault and battery.  Akosua wants one back for this pain and suffering.  Looking at her face in the mirror, she turns to me and says “Sydney hwe me nim”. Read the rest of this entry »

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The EPA Is In Alignment With The Development Agenda Of Ghana

Posted by Business in Ghana on May 10, 2014

Franklin Codjoe, IMANI Ghana

As many Ghanaians await the follow up meeting to the meeting with the ECOWAS Heads of State on the subject of the Economic Partnership Agreements (EPA) with the European Union (EU), the position of Ghana and the entire ECOWAS region remains unclear. As was highlighted in the previous IMANI report (http://www.imanighana.com/2014/04/imani-report-evidence-based-support-for-ghana-to-ratify-the-epa/), the decision of whether to ratify the Regional EPA or not, impacts mostly Ghana, Nigeria and Cote D’Ivoire. Of these three, Nigeria has categorically opposed signing the EPA ‘as is’, and Cote D’Ivoire’s has signed the EPA with a strong indication that it will ratify before the deadline of October 1, 2014.

President Mahama’s Views on the EPA

Ghana’s position on the EPA is clouded with ambiguity, even at the level of the Presidency with vague assurances, such as ‘Ghana will continue to play a facilitating role in the signing of the EPA…’[i], ‘[Ghana] will not hasten to append the country’s signature to the Economic Partnership Agreement (EPA) with the European Union (EU)…any decision that we eventually take, which I [the President] assure you, will be in the best interest of Ghana’[ii], and ‘it will be disastrous if we implement the EPA unilaterally as individual countries…Ghana is in favour of the negotiation of a sub-regional EPA’[iii]. Unfortunately, the President has only managed to convey that, Ghana will dance to the tune of the ECOWAS region, whatever the decision may be. Read the rest of this entry »

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Study Reveals Mobile Reading Revolution In Developing Countries

Posted by Business in Ghana on May 5, 2014

Findings show how mobile devices are unlocking literacy potential-

UNESCO publishes largest study of its kind, revealing that underprivileged men and women enjoy reading and are increasingly taking to their mobile phones to do so  
  Top book searches include Harry Potter, Animal Farm, Romeo and Juliet and Twilight,       Romance is the most popular genre, followed by religion

 23 April 2014 _ In celebration of World Book Day, UNESCO, in partnership with Worldreader and Nokia, today released the results of the largest survey ever to be undertaken on mobile reading in the developing world, revealing that mobile devices can significantly help to enhance people_s literacy skills.

Nearly 5,000 people across seven developing countries _ Ethiopia, Ghana, India, Kenya, Nigeria, Pakistan and Zimbabwe _ were interviewed as part of the research, which discovered that women and girls in particular are benefitting from having a new way to access books, reading on their mobile phones up to six times more than men and boys.

The study also showed that parents regularly read to children using mobile phones, that the vast majority of people enjoy reading more now than they did before they could read on handheld devices and that mobile reading often reverses people_s negative attitudes towards reading. Read the rest of this entry »

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