Ghana could achieve about 930,000 metric tons of cocoa beans, closed to the record outturn achieved in 2010/2011crop season
According to some economic research, 50,000 metric tons of cocoa beans could be realised at the end of September 2014.
Purchasing for the smaller light crop (July-September) officially
started on July 4 while main crop purchases reached 879,000 metric tons
in June 2014.
Meanwhile, high inflation which is eating away farmers’ incomes
fuelled a surge in smuggling of Ghanaian cocoa beans to Côte d’Ivoire.
Although Cocobod, the regulator of the cocoa industry, may have
benefitted from the currency depreciation owing to its dollar borrowing,
its finances are constrained by a large overhang of unpaid receivables.
Ghana is the world’s second largest cocoa producer, with estimated
output of 930,000 metric tonnes of cocoa beans in the 2013/2014.
High inflation, currency depreciation and the likely return of the El
Niño weather phenomenon could cloud the outl…
The French government has given Ghana an amount of €800,000 (about
$1,000,000) to help strengthen the accountability of Ghana’s central and
local government sectors.
The grant is under a programme called “Fond de Solidarité Prioritaire
– Solidarity Priority Fund (SPF)” which saw Ghana and France complete
two SPF projects, one in support of the decentralization process, and
the other in support of public sector reform. Both projects were
completed in early 2013 at a cost $2.4 million.
The new grant will be spread over a three-year period and it will
focus on the application of principles of respect for the rule of law,
consensus building, transparency, citizen participation, gender
equality, efficiency and public sector accountability. Its main
objective will be to strengthen the implementation of accountability
mechanisms of the Government of Ghana.
Mr Frédéric Clavier, French Ambassador; Mr Julius Debrah, Minister
for Local Governments and Rural Development; and Mr Alh…
Rlg over the weekend unveiled its latest smartphone, the Uhuru
Classic, onto the market in Keeping with the desire to remain an
The much-talked about innovative piece was launched on the company’s website www.rlgglobal.com, becoming one of the few to choose that as an option.
The Uhuru Classic is described as lightweight in size, heavyweight in
style. It runs on Android 4.2.1, comes with crystal clear videos,
photos and audio; and has dual camera (front 2.0MP and on the rear
The phone has a long-hour Standby Battery and a super vibrant 4.7 HD LCD with WiFi, Bluetooth, GPS connectivity and a 1GB RAM.
“The Uhuru Classic is a living proof that not all phones are created
the equal”, Ashraf Kanjo, Digital Marketing Manager of Rlg Global
This super-advanced masterpiece is manufactured to define innovation and creativity with its incredible design and features.
It supports multi-language, can store up to 1,000 contacts and
another 1,000 free …
Chief Executive Officer of the Association of Ghana Industries (AGI),
Seth Twum Akwaboa, has challenged industry players to see the
depreciation of the cedi as an opportunity instead of concentrating on
Speaking at AGI’s industry and technology fair in Takoradi, on
Tuesday July 29, 2014 Mr. Akwaboa urged estate developers, importers,
exporters as well as manufacturers who complain about the effects of the
dwindling cedi has had on their businesses to explore new alternatives
that will aid their ailing ventures.
He said businesses can, for instance, explore “…possibilities of trying to obtain local raw materials if they exist”.
Businesses in the country have been plagued by economic challenges
among which include constant depreciation of the local currency, rising
fuel prices, soaring utility tariffs, hikes in taxes, poor power supply.
The AGI, some months ago, admonished government to accelerate the
implementation of the issues agreed upon at the National…
(UK) – 14 July 2014 – FT - Senegal is meeting with
investors in the US and Europe this week to pitch a new $500m government bond,
days after the Ivory Coast began a sales trail for its own $500m bond. Dakar has asked Citigroup, Société Générale and
Standard Chartered to set up meetings with fixed income investors for what is
expected to be a new benchmark bond. Bankers said low interest rates around the world
have led to a honeymoon period for African governments seeking to raise debt on
international markets. Kenya’s debut on international capital markets last
month attracted orders more than four times higher than the $2bn raised,
putting Africa on track to exceed the record $11bn raised on global capital
markets last year. Bankers said investor interest in the new Ivory
Coast bond appeared to be positive, as demand for the country’s existing debt
had increased, pushing down yields. Yields on Senegal’s outstanding 10-year
dollar-denominated bond have also fallen, from 6.86 per cen…
(UK) – 17 July 2014 – FT - Ivory Coast has
attracted almost $5bn of orders in its return to bond markets just three years
after default, in the latest sign of increased investor demand for frontier
market debt. The 10-year, $750m bond, which is expected to price
at a yield of 5.625 per cent, was more than six times subscribed – attracting
an overall book of $4.75bn. The yield on the bond is set to be lower than that
of Kenya’s record-breaking $2bn bond in June. African debt markets have grown rapidly in the past
two years as governments and companies move to take advantage of low global
interest rates and strong investor appetite for higher yields. “Investors are increasingly keen to invest in
frontier markets, but when it comes to Africa, they are also increasingly eager
to address each country on its own individual merits rather than seeing the
continent as an undifferentiated whole,” said Nicholas Samara, debt capital
markets banker at Citi, one of the banks involved in the sale. …