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Ghana’s gross foreign assets hits US$6.4 billion

By: Fred Yaw Sarpong sarpong007@gmail.com
The economic and financial data from the Bank of Ghana (BoG) shows that Ghana’s Gross Foreign Assets for the month of February, 2017 was US$6,455.3 billion.
This represents increased to an equivalent of 3.7 months of import cover, as compared with 3.3 months in the same period in 2016, which had US$5,531.3 billion of import cover.
Total export was US$2,489.5 billion recorded in February, 2017 compared with US$1,582.0 billion recorded in 2016. Gold export for the period was US$1,176.4 billion in 2017 as against US$532.0 million in 2016.
Meanwhile, cocoa export fetched Ghana US$619.0 million in February, 2017 compared with US$688.5 million realized in February 2016. Ghana’s oil export receipt in February 2017 was US$378.8 million as against US$212.3 million the country had in February, 2016.
The date indicated that the country’s total import declined in February 2017. The figure was US$1,916.5 billion, compared with US$2,156.1 billion Ghana had in Fe…

World Bank Africa Vice President visits Ghana

By: Fred Yaw Sarpong sarpong007@gmail.com
Mr. Makhtar Diop, the World Bank Africa Vice President for Africa paid a two-day visit to Ghana from Tuesday 4 April, 2017.

He is also expected to visit Benin and Togo after his visit to Ghana.
While in Ghana, Mr. Diop is expected to pay a courtesy call on President Nana Akufo-Addo to discuss development challenges and opportunities in Education, Energy, Agriculture, and other sectors of the economy.

The World Bank Africa Vice President will also have discussions with the head of Ghana’s economic team, Vice President Dr. Mahamudu Bawumia.
The two Vice Presidents discussions will strengthen the relationship between Ghana and World Bank Africa. They are expected to deliberate on macroeconomic issues and explore ways to work together to support Ghana's development agenda.

This will be the third time Mr. Diop is visiting Ghana, since he became Vice President in 2012.
The World Bank has been in Ghana since 1957. The current Country Partnership Stra…

Ghanaians consume over two million local chickens annually- USAID survey

By Evans Boah-Mensah-USAID
Ghanaians consumed more than two million locally-produced chickens last year, a new USAID survey of the sector has revealed. This suggests a vibrant market for live birds, amid concerns over the viability and competitiveness of the broiler industry in the country.
In a survey that is expected to provide clarity and hope for the performance of the country’s poultry industry, broiler producers generated an estimated GHC53.6 million from the birds sold, which represents 0.7 percent of the total GDP of the agriculture sector in 2015 and 7.9 percent of the GDP of the livestock sub-sector.
According to the results of the survey, each bird cost GHC35 on average.
When put into context, the number of birds sold, which excludes imported chicken products, is equivalent to the size of 51 football fields. Ghanaian consumers are now eating more and more chicken fueled by a rise in incomes. The country’s  per capita income increased from GH¢400 reported in the 2008 published G…

Ghana District Profile series launched

The United States Agency for International Development (USAID) has launched the first-ever Ghana District Profile Series report in Accra.

The report is part of USAID’s work to support evidence-based decision making, and to bridge the data and information gap at the sub-national level in the implementation of Ghana’s local government decentralization policy.

The Ghana District Profile Series, arguably the most comprehensive report ever to be developed in Ghana, is designed to help stakeholders better  understand the development progress and challenges being made in the districts where USAID works.

The 486-page report, which covers all 59 districts in the three northern regions and part of Brong Ahafo bounding the Northern region, was launched at this year’s Feed the Future Implementing Partners Meeting in Accra. It details each district’s demographic information, agricultural activities, women’s empowerment, education and nutrition, water, sanitation and health issues.

The annual mee…

GLACY+ advocates for efforts to combat cybercrime in Ghana

By: Fred Yaw Sarpong
sarpong007@gmail.com

The Global Action on Cybercrime extended (GLACY+) has advocated for a shared Reporting System to combat the menace of cybercrime in Ghana.

Mr. Joe Anokye, Ghana’s GLACY+ National Coordinator and the Director General of National Communications Authority (NCA) said with Ghana’s total mobile data subscriptions at 20,064,110 and with a penetration rate of 70.90% at the end of January, 2017, Cybercrime cases are expected to escalate.

According to him, as new technologies and strategies are being developed daily to advance network security, these programmes sometimes have the effect of preventing Law Enforcement and Justice Agencies from securing the much needed electronic evidence.

Mr. Anokye called for the development of a shared system which would enable all relevant institutions upload cases and share information to avoid duplication of efforts and ensure data and statistics integrity.

The NCA Director General said this when he addressed partici…

Japanese delegation meets Finance Minister

Eight-member delegations from Japanese Embassy in Accra and JICA headquarters in Japan have paid a courtesy call on Mr. Ken Ofori-Atta, Minister of Finance at his office in Accra.

The team, led by H.E Kaoru Yoshimura, Ambassador of Japan to Ghana, included Mr. Kazuhiko Koshikawa, Executive Senior Vice President, JICA-Tokyo and Mr. Noriaki Sadamoto, First Secretary, Japan Embassy.

Mr. Ofori-Atta expressed gratitude to Japan for the decades of cooperation with Ghana in various sectors of the economy.

The Minister said the government was committed to stabilizing the macro economy, strengthening revenue collection and ensures value for money in government contracts.

He said government was also implementing measures to re-profile the country’s debt, all these measures were aimed at freeing fiscal space for growth and jobs.

Mr. Ofori-Atta took the opportunity to invite investors from Japan to take advantage of the peace and security in the country and partner government to make Accra, the …

FoN commends Ghana for ratifying Minamata Convention

Friends of the Nation (FoN), a socio-environmental advocacy NGO based in the Western Region of Ghana has commended the Government of Ghana for ratifying the Minamata Convention on Mercury.
According to the NGO, this signifies the commitment of the Government to reduce and eliminate the use of mercury in Artisanal and Small scale Gold Mining (ASGM) and mercury-added products.
A statement signed by Mr. Donkris Mevuta, the Executive Director of FoN also congratulate the Ministry of Environment, Science, Technology & Innovation and the Environmental Protection Agency (EPA) and all other stakeholders for this important milestone.
“It is noteworthy that on March 23, 2017, Ghana deposited its instrument of accession to the Minamata Convention, thereby becoming the 40th future party of the Convention,” he added.
He mentioned that as the country prepares its National Action Plan (NAP) on ASGM under the Convention, “FoN calls on the Government to adopt a participatory approach to ensure all…

LIST OF ELIGIBLE VOTERS FOR THE GJA 2017 NATIONAL ELECTIONS

GRAPHIC COMMUNICATION GROUP LIMITED
Abayateye N. Felix 2. Ablordeppey Samuel Doe Kwame 3. Acheampong Hannah Amoah 4. Adjei- Mensah Eugenia 5. Adombila Maxwell Akalaare 6. Adu – Gyamerah Emmanuel 7. Agyei Emmanuel 8. Agyeman Nana Konadu 9. Ahiabor Gabriel 10. Aklorbortu Moses Dotsey 11. Alhandu Abdul- Hamid 12. Alhassan Zakaria 13. Amenuveve Vincent Kobla 14. Amoh Roselind 15. Ampratwum- Mensah Akwasi 16. Anane Mary 17. Appiah Salomey 18. Ardayfio Rosemary N.K 19. Arku Jasmine 20. Asare Ernest George 21. Ashigey kenneth 22. Asiedu – Addo Shirley Tawiah 23. Asmah Kobina Vincent 24. Assel Kweku Gyesi 25. Azu Vance Tetteh 26. Baneseh Mabel Aku 27. Bentil Harriette Naa Lamiley 28. Boadu Ayeboafoh Yaw 29. Boadu Kwame Asare 30. Boateng Caroline Nana Dapaa 31. Bokpe Seth Joseph 32. Bonney Emmanuel Adine 33. Bonsu Abigial 34. Bonsu Adwoa Serwaah 35. Buckman – Owoo Jayne 36. Dapatem Donald 37. Dery Severious Kale 38. Donkor Salome Judith 39. Doreen Andoh 40. Duah Kofi 41. Duodu Samuel Kwaku 42…

Graphic Communication Group staffs petition GJA Election Dispute Adjudication Committee

Some staffs of the Graphic Communications Group have petition the Election Dispute Adjudication Committee of the Ghana Journalists Association (GJA) concerning their grievances covering issues affecting the association.
The staffs of the company seeks some clarification on the mandate of the current executives of the association.

BELOW IS THE FULL STATEMENT (Not edited)
Dear Sir,
DISPUTE ABOUT THE MANDATE OF THE EXECUTIVES OF THE GHANA JOURNALISTS ASSOCIATION AND THE LEGALITY OF THE GJA ELECTIONS OF 2017
We the undersigned write to place before you our grievances covering issues affecting the Ghana Journalist Association, and we hasten to add that our grievances are placed before you in furtherance of our constitutional duty under Article 11 (e) of the 2004 Constitution of the Ghana Journalists Association.
We first of all seek clarification on the mandate of the current executives of the Association to be in office and take decisions to affect the wellbeing and welfare of the Association. …

Graphic Communication Group staffs petition GJA Election Dispute Adjudication Committee

Some staffs of the Graphic Communications Group have petition the Election Dispute Adjudication Committee of the Ghana Journalists Association (GJA) concerning their grievances covering issues affecting the association.
The staffs of the company seeks some clarification on the mandate of the current executives of the association.

BELOW IS THE FULL STATEMENT (Not edited)
Dear Sir,
DISPUTE ABOUT THE MANDATE OF THE EXECUTIVES OF THE GHANA JOURNALISTS ASSOCIATION AND THE LEGALITY OF THE GJA ELECTIONS OF 2017
We the undersigned write to place before you our grievances covering issues affecting the Ghana Journalist Association, and we hasten to add that our grievances are placed before you in furtherance of our constitutional duty under Article 11 (e) of the 2004 Constitution of the Ghana Journalists Association.
We first of all seek clarification on the mandate of the current executives of the Association to be in office and take decisions to affect the wellbeing and welfare of the Associ…

Unedited message from Lloyd Evans campaign office

RE: CONSTITUTIONAL BREACHES FOR GJA ELECTIONS 2017
Accra-March 20, 2017- The Campaign office of our Candidate Lloyd Evans wishes to point out to the general public some misinformation purportedly put out since the story about the disqualification of our Candidate Lloyd Evans was first put out last Friday, March 17, 2017.
First, the rule of natural justice was not adhered to. Team Lloyd Campaign was of the opinion that a written copy of the disqualification of our candidate would have first be made available to us before the rush to the public to announce their decision. Team Lloyd however, is yet to  get a written a copy of the statement from the Press Centre.
The Chairman of the Election Committee has noted on some radio interviews that our candidate can appeal his disqualification through the Adjudicating Committee for redress.
We wish to point out to the Chairman of the Election Committee that the very same rules and regulations of the GJA, which mandates the National Executive Council…

Inflation drops to 13.2%

Inflation has dropped from 13.3% in January, 2017 to 13.2% in February, 2017, recording a percentage point decrease of 0.1.
According to Mr. Baah Wadieh, the acting Government Statistician, the food and non-alcoholic beverages group recorded a year-on-year inflation rate of 7.1%. This is 0.1 percentage point higher than the rate recorded in January 2017 which was 7.0%.
Five subgroups of the food and non-alcoholic beverages group recorded inflation rates higher than the group’s average rate of 7.1%.
The non-food group recorded a year-on-year inflation rate of 16.4% in February 2017, compared to the 16.6% recorded for January 2017.
Six subgroups recorded year-on-year inflation rates higher than the group’s average rate of 16.4%. Transport recorded the highest inflation rate of 23.3%, followed by Recreation and culture with 22.8%, Furnishings, household equipment and routine maintenance with 22.5%, Education with 19.6%, Clothing and footwear with 17.8% and Health with 17.1%. Inflation was …

Interest rates on loans and deposits reduced

By: Fred Yaw Sarpong
 sarpong007@gmail.com

Statistics from the Bank of Ghana (BoG) has revealed that interest rate charged on loans and credit advances and interest paid on deposits by banks have reduced to 26.9 per cent and 11.6 per cent respectively.

According to the BoG, Annual Percentage Rates (APR) of interest charged on loans and credit advances was 26.9 per cent, a drop of 0.7 percent from the 27.6 percent recorded for the month of January.

Meanwhile, average Interest (AI) paid on deposits by banks reduced from 11.9 percent as at January 31st, 2017 to 11.6 percent during the reporting period.

A statement from the central bank said the reduction covers 31 banks. The central bank said this data is based on figures available as at 28th February, 2017.

The bank said the APR is the true interest rate banks and non-bank financial institutions charge the public on loans and advances.

“It reflects the true cost of borrowing and includes charges and commissions levied by banks,” said Bo…

2016 PIAC report in final stage

Mr. Kwame Jantuah- Vice Chair, PIAC
By: Fred Yaw Sarpong
sarpong007@gmail.com

The 2016 report of the Public Interest and Accountability Committee (PIAC) on the management of the petroleum funds from Ghana’s crude oil is in its final stage.

According to PIAC, the draft will be ready in a week time after which the tech - nical team of PIAC will review the content of the final report.

The 2016 PIAC report will take into consideration the quantity of barrels of crude oil Ghana National Petroleum Company (GNPC) lifted on behalf of the country during the year.

The report will also publish the amount of revenues accrued from the sale of Ghana’s quota of crude oil from the Jubilee Field and TEN, including the sale of gas managed by the Ghana National Gas Company.

The committee is established under the Petroleum Revenue Management Act, 2011 (Act 815) mandated to monitor the use of funds generated from Ghana’s crude oil.

Mr. Kwame Jantuah, the Vice …

PIAC told to go to court to enforce recommendations

By: Fred Yaw Sarpong
sarpong007@gmail.com

The Public Interest and Accountability Committee (PIAC), the mandated body to monitor the use of Ghana’s oil revenues has been asked to go to court to seek strict compliance of the laws covering accountability of oil funds in the country.

According to Dr. Steve Manteaw, the Campaign Coordinator for ISODEC and a member of the PIAC , it’s time for PIAC as a body to consider going to court to compel institutions responsible for managing Ghana’s oil revenue to answers some questions concerning the expenditure of oil funds.

He pointed out that there are several recommendations made by the PIAC in its past reports on management of petroleum revenues, and a lot of these recommendations has received no positive response from the institutions concerned.

He disclosed this to the Daily Express at a three-day workshop on Interrogating the 2016 Semi Annual PIAC Report at Koforidua in the Eastern Region.

The workshop was organized by the Institute of Financ…