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Category: Economics

  • SRI Launched its Web base Application Platform

    SRI Launched its Web base Application Platform

    Agric: CSIR – SRI Launched its Web base Application Platform

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    The Council for Scientific and Industrial Research (CSIR) in collaboration with the Modernizing Agriculture in Ghana (MAG) held a Stakeholder Seminar on Digitized Soil Maps on Tuesday, 30th March 2021 on the theme ” CSIR-Soil Research Institute Web base Application Platform.

    LAUNCHED

    This program was basically launched to introduce the New Digital Soil Maps in Ghana which led to the Deputy Director-General of CSIR, Mr. Paul P. Bosu giving the opening remarks on the program. He made it known to the media that the MAG is a development assistant program by the Canadians to support the growth in agriculture in Ghana.

    SRI Launched its Web base Application Platform

    According to Mr. Bosu, the Ministry for Food and Agriculture is the key implementation agency of this program with the collaboration of CSIR and others as collaborators of partners.

    “SRI is one of the thirteen (13) of the CSIR. The institute is mandated to undertake Scientific research to generate technology/ information, commercialized these technologies and build capacity in the sustainable management of Ghana’s Soil resources for increased in Agricultural industry, environmental Quality and improved livelihoods” he hinted.

    Prof. Mohammed Moro Buri, Director of CSIR- SRI further came in to give a brief statement on the Soil Maps of Ghana. He pointed out that there has been a website created to aid farmers in knowing what to grow in their various farms respectively. He said that there had been a test which went on years ago on Ghana’s soil in all the sixteen (16) regions which has aid them to develop a website called www.csirsoilinfo.org for farmers.

    SRI Launched its Web base Application Platform

    Mr. Buri futher said, the agricultural modernisation is an important foundation of every nation if food production is to be increased and food security. He went on to tell the media on the key goal of bringing up the website; he said, this is to increase food production and to enhance food security through effective sustainable use of the soil in the country.

    “The main objective is to develop and host information on the soil resources of Ghana online to enhance soil information, accessibility, availability and acquisition in the country and world wide” he said.

    Finally, Mr. Eric Asamaoh, Principal technologist of CSIR-SRI also brought his presentation of the digitalised soil Maps. He said, The online platform contains digitized soil maps of specific locations, soil characteristics and appropriate nutrient/mineral requirement for key crops in each agro-ecological zones of Ghana. It also shows information on soil nutrient availability, soil physical properties and fertility limitations, as well as soil suitability for selected crops can be accessed. Soil management recommendations, strategies and limitations, etc. are brought to the door step of farmers (small, medium and large scale).

    Acknowled MAG Representation, the MAG Coordinator and Director General of CSIR graced the occasion.

  • Akua Donkor Promises To Drop Ghana’s Cedi To Pounds

    Akua Donkor Promises To Drop Ghana’s Cedi To Pounds

    must watch..

  • Gold production in Ghana projected to increase by 9% in 2021 – Fitch Solutions

    Gold production in Ghana projected to increase by 9% in 2021 – Fitch Solutions

    The rate of gold production in Ghana is projected to witness a growth of about 9 percent in 2021, global market analysis agency, Fitch Solutions has said.

    According to a report by Fitch Solutions, this will become the largest growth rate for gold production experienced by Ghana.

    The market analysis firm explained the projection will impact positively on the volume of gold production to 4.65 million for Ghana.

    Also, this will aid Ghana to sustain its spot as Africa’s largest gold producer in 2021. Ghana currently leads South Africa in terms of gold production capacity after the latter lost its position in 2019 to Ghana.

    “A significant growth in Gold production in Ghana will be driven by the Phase 2 completion of AngloGold Ashanti’s Obuasi Project,” the agency noted.

    Meanwhile, AngloGold Ashanti in December 2019 at its Obuasi mine poured its first gold during Phase 1 of the project.

    The firm also in October 2020, reported a progress account indicating 68.4 percent of the project was completed.

    AngloGold Ashanti at the present aims to accomplish a stable state of operation in 2021. This will then lead to a rise in Ghana’s gold production by roughly 350-400k oz per year during the first 10 years of its Obuasi’s mine life.

    Ghanaweb

  • 25 farmers honoured at Atwima Nwabiagya South

    25 farmers honoured at Atwima Nwabiagya South

    Twenty-five farmers in the Atwima Nwabiagya South Municipality were on Friday honoured at this year’s Farmers’ Day celebrations at Mim in the Ashanti Region.

    They received knapsack sprayers, cutlasses, wellington boots, wax prints, motorcycles and certificates.

    Mr Stephen Takyi from Nerebehi was adjudged the Overall Best Municipal Farmer.

    He has 12 acres of cocoa farm, 300 ducks, 300 poultry birds and other food crops.

    He took home a tricycle and a certificate.

    Mr Alex Abugri, who has 17 acres of cocoa farm, was adjudged the Best Cocoa Farmer.

    He received a motorbike, five pieces of wax print, knapsack sprayer, a pair of Wellington boots, cutlasses and a certificate.

    Mr Michael Amoah Awuku, the Municipal Chief Executive, praised farmers in the Municipality for the hard work and dedication, which had ensured continuous food supply in the area.

    He said as part of efforts to support the planting for exports and rural development, the Assembly had distributed 42,000 oil-palm seedlings and 3000 coconut seedlings to farmers.

    Mr Daniel Peprah, the Municipal Director of Food and Agriculture, said the planting for food and jobs and other related policies had helped to increase food production in the area.

    He stressed the need for Ghanaians to eat local foods to encourage farmers to produce more to enhance national food security.

    GNA

  • Ministry of Finance welcomes Special Prosecutor’s risk assessment of Agyapa.

    Ministry of Finance welcomes Special Prosecutor’s risk assessment of Agyapa.

    The Ministry of Finance says it welcomes the decision of the Special Prosecutor to undertake the risk assessment and views it as an opportunity to address some of the concerns raised in respect of this transaction.

    In a statement issued by the Public Relations Unit, the Ministry said such an assessment would reassure Ghanaians that “the transaction has and will continue to adhere to the highest levels of corporate governance and transparency.”

    The statement said the Ministry had notified the Office of the Special Prosecutor (OSP) that the Initial Public Offering would not be launched until the completion of the risk assessment.

    It said the exercise and the findings by the Office of the Special Prosecutor of Ghana “shall be deemed material to the Initial Public Offering (IPO) and public listing of Agyapa and will therefore need to be fully disclosed in the prospectus prior to applying to the regulators of the UK and Ghana Stock Exchanges for approval to launch the IPO.”

    “This Ministry is, therefore, working with the OSP to successfully complete this exercise. In the interim, the OSP has been notified by Ministry of finance that the IPO shall not be launched until the risk assessment has been completed,” it said.

    On September 14, 2020, the Office of the Special Prosecutor (OSP), in exercise of its mandate pursuant to sections 2 (1) (c), 29, 69 and 73 of Act 959 and Regulation 31 (1) and (2) of L.I. 2374 requested for information and production of documents in relation to a risk assessment it was conducting on Agyapa Royalties transaction.

    Source: GNA

  • Narteh-Yoe replaces Wilfred Kwaku Osei

    Narteh-Yoe replaces Wilfred Kwaku Osei

    The Ghana Football Association (GFA) has appointed Mr. Samson Narteh-yoe, a Financial Economist onto the Ad-Hoc Compensation Committee of the Association.

    Mr. Narteh-Yoe a lecturer in Finance and Bussines Policy and Strategy would replace Mr. Kwaku Osei, President of Tema Youth Sporting Club, who declined his appointment to serve on the committee for personal reasons.

    Mr. Narteh-yoe is coming on board with over 20 years of work experience in various industries including Telecoms, Banking, Petroleum, FMCG, Manufacturing, and NGOs.

    He is a finance consultant and lectures Business Policy and Strategy, Investment and Portfolio Management, International Trade Finance, and Project Financing at the University of Professional Studies (UPSA), Accra.

    Mr. Narteh-yoe is expected to bring his experience to bear when he joins Mr. Frederick Nana Kweku Moore, the Chief Executive Officer of Accra Hearts of Oak Sporting Club and Mr. Delali Eric Senaye, Chief Executive Officer of Inter Allies Football Club on the Committee.

    The mandate of the Committee, as provided under Article 42(2) of the GFA Statutes 2019, is to propose to the GFA Congress the remuneration of members of the Executive Council.

    The Committee is expected to submit its work in time to form part of the Congress documents that will be sent to members of Congress as the formal convocation of Congress under Article 31(3) of the GFA Statutes 2019.

    Ghana News Agency

  • Ghana needs a new national capital – Economist

    Ghana needs a new national capital – Economist

    Habibu Adam, Senior Economist, Office of the Senior Minister on Friday called for a new national capital around the Tamale Airport down through Savannah to Bono East Regions.

    He said Accra was currently chocked with serious traffic and sanitation issues; “If care is not taken, in the next 10 years, Accra will need an interchange per kilometer to allow for free movement of vehicles. There will be too much human and motor traffic to an extent that the economic costs to the country would be dire.

    “Already Accra has captured Kasoa from Central Region and tension is beginning to brew between Greater Accra and Eastern Region,” Mr Adam told the Ghana News Agency in an interview in Accra.

    The Senior Economist explained that the Tamale International Airport (TIA) should be made the main international airport for Ghana for very strategic reasons.

    He argued that Tamale was the closest to the rest of the World and cut the journey by one-hour when flights take off from there. “Citizens from neighbouring countries like Burkina Faso, Niger and Mali would find it convenient to pick flights to Ghana and do the rest of the journey by road”.

    Mr Adam noted that the government could acquire large acres of land five times the size of Heathrow or Dubai airport at no cost or less cost to government and make it an Aviation Hub of West Africa.

    “Government through the private sector can set up the Maintenance, Repairs and Overhaul (MRO) of airplanes as well as the cargo village especially for perishable goods which could reach Europe and the rest of the World faster than when they take off from Kotoka International Airport in Accra,” he explained.

    The African Continental Free Trade Centre headquartered in Accra in addition to the Marine Derive project when completed could add close to one million people to the population of Accra in addition to the almost six million people on the overstretched land of Greater Accra,” he said.

    Mr Adam noted that: “It is therefore high time we start working towards correcting that monumental mistake. Many countries including; Kazakhstan, Burma, Bolivia, Portugal, Indonesia and on the African continent, we have Nigeria, Burundi, Cote d’ Ivoire and Tanzania have either moved their capital or are in the process of moving their capital”.

    He suggested that to cure the problem, each region should be given part of the national agenda to lead. “We can have tourism hub, educational hub, automobile hub, financial hub, petroleum hub among others to be led by the various regions”.

    He stressed that making the Tamale International Airport the Hub would provide economic justification for all other airports in the country the government currently wants to build.

    “With passengers arriving at the Tamale International Airport, they will be compelled to take flights to the various regions Accra, Kumasi, Ho, Cape Coast, Takoradi and Sunyani. This will boost the domestic aviation industry.”

    He said, “these actions should be deliberate policy of government to decongest Accra and move the services sectors to the less endowed regions.”

    Mr Adam suggested that the $10 billion Big Push proposed by the National Democratic Congress (NDC) and the GHS100 billion proposed by New Patriotic Party (NPP) to restart the economy should be channelled through building this new capital.

    He noted that one of the tragedies of our national development has been the failure of successive governments to carve our development path based on the potential of the various regions.

    “Over the years, our major developments have been concentrated in Accra and Kumasi resulting in mass exodus of people from the various regions to Accra and Kumasi bringing in its wake serious economic and social consequences.

    “What policymakers should have done was to look at the economic potential of the various regions and direct developments along the same path. Highly potentially industrialised regions should have been developed along the same path,” he said.

    GNA

  • Spillage of Bagre Dam: Govt to provide GH¢29.6m for long-term solution

    Spillage of Bagre Dam: Govt to provide GH¢29.6m for long-term solution

    Government has planned to carry out an urgent exercise at an estimated cost of GH¢29.6 million, aimed at providing long-term solution to the perennial flooding and its related destructions caused by the spillage of the Bagre Dam, the Water Resources Commission has hinted.

    In a statement by the Commission issued to Ghanaian Times on Sunday, the Executive Secretary, Ben Ampomah said, “government wishes to assure the public that, it is committed and is working on short and long term measures to mitigate the impacts of the perennial floods in the White Volta Basin.”

    The exercise, according to the Commission, would include the dredging of the White Volta in the upstream areas of Yarugu (Bawku), Pwalugu, and the confluence of the Sissili and Kulpawn tributaries, which would cover an expected area of about 30km.

    In addition, 42 communities comprised of 25 in Bawku West, five in Nabdam and 12 in Talensi, all in the Upper East Region, would be engaged to ensure that the causes of the floods and the attendant damages are reduced, Mr Ampomah said.

    He explained that there would be documentary production for awareness creation on restoration and stabilisation of dredged river banks, and emergency response.

    Mr Ampomah indicated that the exercise would be done to compliment the ongoing non-structural measures, notably, the provision of forecast and early warning information.

    Other measures, in this regard, include the exchange of data and information on the spills, consultations with managers of the Bagre Dam, community education, awareness creation, and emergency response.

    He explained that the exercise would minimise the impacts of flooding in the upstream of the main White Volta within the Yarugu, Pwalugu, and the confluence of the tributaries.

    Additionally, the dredging, he noted, would improve flows into the Pwalugu Dam, and facilitate flow from the Sissili and Kulpawn tributaries, and, also minimise sedimentation of the Pwalugu reservoir.

    According to Mr Ampomah, the results of an initial interventions carried out in 2019, has proved that dredging of the White Volta river, when done periodically as a maintenance activity would yield greater positive impact.

    “At the end of the rainy season in November 2019 there were no reports of extensive flooding of the dredged areas potentially prone to flooding in the past. The destruction of crops and farmlands also reduced significantly in the area,” he said.

    To date, several farmlands within the upstream sections of the White Volta, especially, the Bawku Municipal, Bawku West, Talensi and Nabdam districts have been flooded through the spillage of the Bagre Dam.

    This situation, the Commission acknowledges, should it prevail in September and November 2020, would affect lives, settlements and human health, while, the financial costs of relief and emergency responses would be colossal.

    Already, six people have died as a result of flood from the spillage of Bagre dam in the North East Region, a situation which was compounded with heavy rains in the area in the past few weeks, destroying several acres of farmlands, and left hundreds homeless.

    The spillage of the Bagre Dam has become an annual ritual, with the Water Resource Commission, , indicating that this year’s opening of spill gates and release of water from the dam has become the earliest, since 2007.

    ghanaweb

  • God Is Not Responsible For Coronavirus Outbreak

    God Is Not Responsible For Coronavirus Outbreak

    God Is Not Responsible For Coronavirus Outbreak- Mensah Otabil

    Mensah Otabil The leader and founder of International Central Gospel Church ICGC, Pastor Mensa Otabil has stated that the outbreak of coronavirus should be attributed to the wrath of God.

    Pastor Mensah Otabil made this statement during a Facebook live session.

    His statement follows a perception that God is judging people for the sins they have committed through the pandemic.

    Mensah Otabil
    Mensah Otabil

    SEE ALSO: Wendy Shay’s songs promote prostitution – Prophet Kumchacha.

    He said: “I don’t really think that this is a judgment from God, I don’t see any reason scripturally to arrive at that conclusion; I think our view of God, sometimes, makes us see Him as a very vengeful person who is out there with a big stick trying to knock out everybody who doesn’t like Him and everybody who dishonors Him.

    “But my understanding of Him is: He is love and compassion. Of course, He also has a judgment part which is reserved for another period in human history but in these times, I think God is dealing with us in mercy and in kindness and in grace and I think God’s desire is that people be well, that people will be healed, that people feel better and that will be the way that I see God and, so, I don’t think this is a divine judgment neither do I think it’s a demonic attack.”

    Mensah Otabil
    Mensah Otabil

    Pastor Otabil added: “I think it’s just human, one of these things that happens to us as human beings, there is the forces of nature coming against us either because we have interfered in the natural process or we have done something that has disorganised the ecology of the world we live in and, so, these are things that can hit us if we don’t organise our lives well in this human space. I think it’s a human action that brought it into being and it’s also going to take human actions to take it away.”

    Meanwhile, Ghana has recorded 141 of Covid-19 with 5 confirmed deaths

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  • Ghana launches 2020 Chocolate Day

    Ghana launches 2020 Chocolate Day

    Ghana on Tuesday launched the 2020 National Chocolate Day celebrations with a call for patronage and usage of “Made in Ghana Chocolate”.

    Mrs Barbara Oteng Gyasi, the Minister of Tourism and Creative Arts, who launched the programme, encouraged the use of chocolate as a ‘Gift of Love’ to all during the celebration.

    This year’s celebration will commence from February 10 and climaxed on February 14, on the theme; “My Chocolate Experience: My Holistic Well-Being”.

    Mrs Oteng Gyasi said the Ministry, in 2005, instituted the National Chocolate Day to coincide with Valentine‘s Day, February 14, to promote the consumption of Made-in-Ghana chocolate and cocoa based products.

    She said it was also to position cocoa and the chocolate experience as a strong element of the Ghana tourism experience, saying this had been largely successful with the Day being an important feature of the tourism calendar of events.

    She said this year’s celebration would begin with a Digital Campaign Competition where contestants would post a picture of themselves enjoying chocolate or any product produced with chocolate at a hospitality establishment on social media.

  • FORMER MP FOR NKWANTA SOUTH DONATES FERTILIZERS TO FARMERS IN HIS CONSTITUENCY

    FORMER MP FOR NKWANTA SOUTH DONATES FERTILIZERS TO FARMERS IN HIS CONSTITUENCY

    The former Mp for Nkwanta south constituency who doubled as the ex majority chief whip, Honourable Gershon Gbediame, identified some cocoa farming communities in the constituency during his days in the office as Mp and resourced them with cocoa seedlings and cutlasses to promote agricultural productivity in the area.

    The former Mp who has endless love and support for his constituents three days today went to some of these cocoa farming communities to donate free organic concept fertilizers to all the cocoa farmers there in order to augment productivity and also to alleviate poverty as well as sufferings of the people.

    These communities are Pusupu, Brewaniase, Bontibor, Abruburwa, Fankyeneko, salifu, Obanda and kpena.

    He is still having more of these cocoa farming communities in the constituency to donate more of the fertilizers, he’s hoping to cover the entire municipality by next week to ensure a fair and transparent donation of the fertilizers to all the farming communities in the municipality.

    Hon Gershon believes that, vegetable farming is one of the best investments in the agriculture sector, hence he’s poised to donate more of the fertilizers to people willing to go into vegetable farming, he is ready to promote vegetable farming to make Nkwanta south constituency the best suppliers of vegetables in the Oti region and Ghana at large.

    Addressing some farmers over 500 people at Brewaniase, he advised the youths to invest more in agric, most especially vegetables farming, he believes that will promote entrepreneurship and also provide economic freedom for them as young ones to be self dependent.

    The former Mp has vowed to support constituents of Nkwanta south constituency in his little way, despite the fact that he is no more in office, he still believes that, helping others does not require a political power to do that.

    The former majority chief whip want to use this opportunity to assure farmers in the Nkwanta south constituency that, he has more plans to support them, those who farms cassava and yam will soon get a support to also explore more in the production of those crops.

  • THE CURRENT COCOA PRICE INCREMENT IS AN INSULT MADAM AKUA DONKOR—-HINTED.

    THE CURRENT COCOA PRICE INCREMENT IS AN INSULT MADAM AKUA DONKOR—-HINTED.

    The founder and leader of Ghana Freedom Party (GFP) Madam Akua Donkor have said, the current cocoa price announced by Cocoabod from Gh¢475 to GH¢515 is an extreme insult and disrespect to farmers who are into cocoa business.

    Madam Akua Donkor said failing to increase the price of cocoa beans to a very welcome amount will discourage and drive away from the youths who want to venture into agriculture.

    Speaking Madam Akua said cocoa farmers in Ghana are not benefiting from the national cocoa profits and are hit with poor initiatives and cocoa policies.

    The GFP flagbearer reveals the government ought to have increased a bag of cocoa beans to Gh¢575 instead of the newly increment amount of Gh¢515 per bag with an increasing amount of Gh¢100.

    Madam Akua Donkor concluded by saying that, Ghana Freedom Party when voted into power come 2020 will provide favorable incentives with better cocoa price increments for cocoa farmers for a better living.

    Story by Emmanuel koranteng. |DFM|DIKODER.COM|

  • We suspended PDS agreement in public interest – President

    We suspended PDS agreement in public interest – President

    Luanda, Aug. 9, GNA – President Nana Addo Dankwa Akufo-Addo says the decision to suspend the concession agreement with PDS was taken to protect the over US$3 billion worth of assets of the Electricity Company of Ghana (ECG).

    He added that, going public on the agreement suspension was “for the country to know exactly what is going on, and, therefore, hold the government to account for its stewardship”.

    He was addressing the Ghanaian community in Angola as part of his two-day state visit at the invitation of the Angolan President, Manuel Gonçalves Lourençost.

    President Akufo-Addo said his Government inherited an arrangement in which the United States (US) Government, through the Millennium Challenge Corporation (MCC), had offered the country half-a-billion dollars for the reform of the energy sector, particularly the ECG. .

    One of the conditions for the facility was for Ghana to get a private electricity coordinator to partner with ECG to manage electricity generation and the distribution system.

    After, a bidding and tendering process, PDS was selected to take over the running of the assets of the ECG.

    The government, he said, later discovered that there had been breaches of the concession agreement by PDS – a fundamental requirement that it put up a guarantee to cover US$400 million, and “as a result of that, we have had to suspend the concession until all the facts are established.”

    “It turned out that there are problems with this guarantee. Therefore, the protection that we should have in the transaction was not really there.

    “The matter came to our notice, and we decided that the first thing to do was to protect the public assets by suspending the agreement with this private sector operator and returning the assets to the control of the ECG whilst a process of investigation was being carried out.”

    President Akufo-Addo told the gathering that a delegation had been sent to Qatar, the origin of the company, to find out what the situation was and that by the time he got back to Accra “we will know exactly where we are.” 

    He said suspension of the agreement was to make sure that there was no delinquency, and,” if that is what it turns out to be, nipped in the bud as soon as possible,” because the ECG’s assets were not one to be taken lightly.

     He gave the assurance that the suspension of the agreement with PDS “will not disturb the flow of electricity in the country. Things will continue on a stable basis.”

    GNA

    By Ken Sackey, GNA Special Correspondent, Luanda, Angola