SARPONG'S BLOG

Story by: Fred Yaw Sarpong e.TV Ghana, one of the renowned television stations in the country has announced September as ‘Made in Ghana Month’ and will officially launch it at the Silver Lounge in Accra Mall. The month long programme is under the theme: ‘Our products, our pride, our future’, and the celebration will showcase Ghanaian products and services. The event seeks to highlight and promote industries, products and services originated from Ghana. This is the second year the station is organizing the ‘Made in Ghana Month’. According to Akwasi Agyeman, Managing Director of Global Media Alliance, owners of e.TV Ghana, the ‘Made in Ghana Month’ buttresses the station’s determination to play a meaningful role in Ghana’s development. E.TV Ghana is a station that believes in Ghana and sees itself as a partner for development. We are committed to this and will do all in our power to ensure that Ghanaian products are promoted’. As part of the activities of marking...

Story by: Fred Yaw Sarpong Ghana earns € 10,835,839 from the export of 25,007 cubic meters of wood products in June 2013, according to report from the Timber Division of Forestry Commission of Ghana. The figures indicate increases of 32 .48% in value and 23.51% in volume respectively, over the €8,179,249 earned from the export volume of 20,247 cubic meters recorded in June 2012. This also shows increases of 9.74% and 13.79 % in value and volume when compared with the May 2013 data. Cumulatively, the country realized €61,380,867 from the export of 137,363 cubic meters from January to June 2013. Comparatively, the figures show increases of 36.95% and 11.92%, respectively over the same period of 2012 when €44,820,101 was realized from the export of 122,735 cubic meters. The figures also show that the overall Average Unit Value (Total Value in Euros/Total Volume) increased from €365 cubic meters between January and   June 2012 to €447 cubic meters between Janua...

By Fred Sarpong The Managing Director of Guinness Ghana Breweries Limited (GGBL), Peter Ndegwa has said that shareholders are very important to businesses and they must be handled with care. According to him the success of every business and its development depends on those who invest their money in the business. The GGBL MD was delivering a speech at the Chartered Institute of Marketing, Ghana an Evening with Peter Ndegwa in Accra last week. The topic was: ‘Corporate and Marketing Challenges: the Mindset of the Strategist.’ He stated that businesses exist to meet shareholder expectations and shareholders are concerned about three main issues. The issues are h igher returns, rapid growth and lower risk. He explained that s hareholders value investments with sustained high returns; arising from rapid and continued growth in the business; and within acceptable and appropriate limits of risk and uncertainty. He said marketing strategy is fundamental in determining ...

The Bank of Ghana has maintained its policy rate for the first time this year. The Bank maintained its benchmark lending rate at 16 percent. The rate is usually indicative of the price commercial banks can borrow from the central bank. Announcing the policy rate, the Governor of Bank of Ghana, Dr. Kofi Wampah said the increase was as a result of risk to government’s revenue , inflation and economic growth. The governor also announced that for the half year government has spent about 4.5 percent more than what it has brought in as revenue. Below is the statement 1. Ladies and Gentlemen, you are welcome to the 56th Monetary Policy Committee (MPC) Press briefing. The Committee held its third meeting of the year during which the latest economic developments and risks to the outlook were discussed. We present to you highlights of these deliberations and the decision of the Committee on the monetary policy stance. Global Economic Developments 2. The 2013 July update of t...

The National Petroleum Authority (NPA) has increased the prices of some products with premix fuel recording the highest increment. This the Authority said is in line with the government of Ghana's policy directive to achieve full pass-through petroleum products prices. Premix fuel which was selling at 66.82 GHp/lt increased by 19.94% as the pump price goes up to 80.14 GHp/lt. A statement issued by the NPA and signed by its Chief Executive, Alex Mould said the review of the maximum indicative prices of petroleum products takes effect from Thursday, August 1, 2013 at 6:00 am. The Authority explained that since the last adjustment of the pump prices of petroleum products on July 17, 2013, prices of petroleum products have experienced volatility on the international market. It said the Price of Brent (DTD) crude oil has been increased from USD105.87/bbl to USD109.08/bbl, representing a 3.04% increase. However, the prices of Petrol (premium) and Diesel (gas oil) remained un...

Accra Brewery Limited has rewarded employees of its Sales Department at a recent event held at the African Royal Beach Hotel in Accra. The awards night was held at the end of a one day Sales conference organized at the same venue. Both events are annual highlights on the company’s calendar and are aimed at affording the Sales Department the opportunity to review their performance during the previous financial year and to reward individuals and teams within the department who excelled during the period. Sales and Distribution Director of Accra Brewery Limited, Michiel Oelermans, congratulated the Trade Marketing Representatives (TMRs) and the Sales Teams on their contribution to the department’s success. He emphasized, “Our continuous collective efforts will ensure the company’s growth”. The best TMR award for the 2012/2013 financial year went to James Ayeh Jnr. who was the TMR for the Upper West Region during the period under review. Expressing his excitement James said...

Government has released about 100 million dollars to clear some debts owed bulk importers of petroleum products. This is expected to improve the financial position of these companies for continuous supply of fuel on the market. The bulk distributors in the past have complained that delays in clearing the 700 million Ghana cedi debt might lead to shortage of the products on the market. But government on the other hand puts the amount at a little lower than what the companies are quoting. Chief Executive of National Petroleum Authority Alex Mould told Joy Business, "The BDC (Bulk Distribuiton Companies) were owed about 315 million Ghana cedis, over half of that would be paid leaving a balance of 150 million Ghana cedis. "There is also a request by the BDC for the government to pay the forex lost that they incurred when the cedi depreciated from 2011 to 2012 and also they are claiming an interest payment of late payment of the subsidies. This is still be...