Business in Ghana

We Understand the issues that make the News

Posts Tagged ‘Poverty Alleviation’

Chinese Money, The New Safety Net

Posted by Business in Ghana on December 31, 2011

By Sydney Casely-Hayford, Sydney@bizghana.com

Two weeks on 11th December, I made the argument that Government had no choice than to raise fuel prices. https://thenewghanaian.wordpress.com/2011/12/11/expect-fuel-price-hike-soon/

I also said this would happen after Christmas or in the New Year and I predicted at least a 15% hike.  I was spot on.  December 29th, Government announced 15% increases in petroleum prices, except for Kerosene and Premix.  Both these subsidized fuels are “political fuels” used to stave off the inevitable rebellion by the poor but radical fisher folk. Read the rest of this entry »

Posted in Financial Services, Sydney Casely-Hayford | Tagged: , , , , , , | Leave a Comment »

2012 Budget Missed The Point

Posted by Business in Ghana on November 20, 2011

By Sydney Casely-Hayford, Sydney@bizghana.com

A day before budget reading there was no shortage of advice for the Government.  Most Policy Think Tanks and talking heads offered all the wisdom they had accumulated over the year(s).  Even the opposition New Patriotic Party and the Convention People’s Party had a few kind suggestions for Finance Minister Kwabena Dufuor.  It did not take five minutes after the dead-pan-budget presentation for the cacophony to start.  And there was a lot to criticize.

The Finance Minister is a conservative banker and economist and the President John Atta Mills is ultra conservative.  No surprise therefore that we got a very unimaginative budget with no major departures from previous years.  In fact, most comments from the opposition harped on the fact that current projects carried forward from 2009, 2010 and 2011 budget statements.  How many times are we going to build the landing sites for fisher-folk on the coast?  It started with the NPP Government and we have re-budgeted for it three years in a row from 2009. Read the rest of this entry »

Posted in Financial Services, Sydney Casely-Hayford | Tagged: , , , , | 1 Comment »