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Showing posts from July, 2014

NCA to protect public from unsolicited calls and SMS

By: Fred Yaw Sarpong- (Daily Express) The National Communications Authority (NCA) is to introduce a Code of Conduct or guidelines, to help regulate the transmission of Unsolicited Electronic Communications (UECs) via calls or short message service (SMS) in Ghana. This means that the authority will regulate all calls and SMS that are not requested, welcome or invited by a receiver from the network operators in the country. When finalized, the guideline will help provide information and framework to communications service providers on sending transactional and non-transactional content to consumers for their protection and in line with existing regulations. The authority is introducing these guidelines in fulfillment of its mandate as enshrined in the National Communications Authority Act of 2008, Act 769, and Electronic Transactions Act of 2008, Act 772, In order to develop the guidelines, the authority invited comments and views on the contents of the Code of Conduct

Cocoa production to hit 930,000 metric tons

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

Ghana gets US$1 million grant from France

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 A

Rlg unveils Uhuru Classic

Rlg over the weekend unveiled its latest smartphone, the Uhuru Classic, onto the market in Keeping with the desire to remain an industry leader. 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 8.0MP). 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 remarked. 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 1,00

AGI challenges industry to make best out of falling cedi

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 the negatives. 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 Natio

Vodafone Ghana promises increased value for customers

By: Fred Yaw Sarpong As part of efforts to empower and confidently connect its customers, Vodafone Ghana will embark on new initiatives to create unique and a more value experience for customers. “This year promises to be exciting for our customers. We are committed to providing our customers with the best products and services, and a great network experience,” said the Chief Executive Officer (CEO) of Vodafone Ghana, Haris Broumidis. Speaking to journalists on the objectives of Happy Feet, an initiative by the company to reach out to its customers, Broumidis explained that, “Hearing what our customers think about our products and services is of paramount importance to the future of our business as it helps us develop products and services that meet their changing needs.” Happy Feet is Vodafone’s field-based customer engagement programme, where the telecoms company reassures its customers of its commitment to offering reliable network, value-driven products and service

Senegal follows Ivory Coast on bond sales trail

London (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

Strong demand for Ivory Coast bond

London (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 ba

Mobile internet in Ghana increase by 9.73%

By: Fred Yaw Sarpong According to the National Communications Authority (NCA), the monthly mobile internet usage in Ghana increased by 9.73% in April, this year. This brings mobile internet subscribers to 14,254,407 nationwide. Mobile internet subscription for MTN increased substantially 3.51% to bring its market share 56.03%, representing 7,986,231 data lines for ending of April, this year. Even though subscription for Airtel increased slightly, their market share decreased by 1.19% ending April, 2014 as a result of a significant increase in the month-on-month growth of data subscription base by 9.73%. Airtel data subscription for April was 1,966,706 with a market share of 13.80%. By virtue of the 9.73% growth in month-on-month data subscription base, Tigo also increased subscribership to 1,723,459, yet experienced a decrease in market share from 14.99% in March, 2014 to 13.80% as at the end of April, 2014. Expresso has 43,616 mobile internet subscribers, repr

HFC Bank inaugurates Asokwa Branch

HFC Bank inaugurates Asokwa Branch HFC Bank Ghana Limited, has increased its presence in Kumasi in the Ashanti region, with the launch of the Asokwa branch. The branch houses the regional corporate banking office, and brings to five the number of branches in the region. It will coordinate the operations of the other four branches namely Adum, Suame, Kwame Nkrumah University of Science and Technology (KNUST), and the ‘Railways’. The Asokwa branch will also serve customers at Asokwa, Amakom, Nhyiaeso and other nearby communities, to ease pressure and banking hall congestion on the existing branches. Nana Adu Mensah Asare, Amakomhene, represented the Asantehene, Otumfuo Osei Tutu the second at the inaugural ceremony. He commended HFC Bank for supporting businesses in the region and urged the staff to continue to put premium on good customer care to attract more clients.