Ghana government asked to increase spending
The Centre for Budget Advocacy of the Integrated Social Development Centre (ISODEC) has urged government to come out from its restrictive macroeconomic framework of reducing inflation and balance of payments, saying such a fiscal stance sacrifices growth and makes it almost impossible for the country to meet international human rights obligations.
In its initial reaction to the 2010 Budget, the Centre said the pursuit of such a fiscal policy would not allow government to tackle the high unemployment rate in the country and to pursue a public sector-led growth and transformation.
“For us the objective for fiscal policy is to finance a sustained, significant and permanent increase in public finance to support economic growth and deliver the basic necessities to secure a positive achievement in human development,” Mr Nicholas Adamtey, Head of the Centre said.
Mr Adamtey said macro stability without due consideration for the basic needs and entitlements of citizens in fulfilment of state obligations enshrined in the national constitution, the United Nations Millennium Goals and international commitments like the African Human Rights and economic social and cultural rights framework is counter-productive.
He said it was the Centre’s expectation that government would engage in broad consultation with stakeholders of the national economy namely organised labour, religious bodies, professional bodies, chamber of commerce, farmers organization to secure a social pact for the management of the national economy.
The social pact will enable the government to negotiate and secure agreements/commitments of stakeholders to public sector reforms like rightsizing and the negotiation of wage levels until the situation improves, the role of the Bretton Wood’s institutions in domestic policy making and the need for policy autonomy and progressively reducing reliance on external financing of the budget.
The Centre welcomed the various measures outlined by government to shore up domestic revenue mobilization, especially the increase in mineral royalties from the current level of three to six percent and called on government to exhibit the political will in implementing the measures.
Source: GNA
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Ghana asked to link mining policy with economy
Mr Emmanuel Kuyole, Africa Regional Co-ordinator of the Revenue Watch, which is based in the United States, has said any mining policy document must not only be transparent but made in a way to link up with the economy.
By so doing, he said, it would improve the living conditions of the people but cautioned that laws and regulations in respect of mining must be rigidly enforced.
Mr Kuyole, who was speaking at a meeting of the Greater Accra Regional Council of Labour at the week-end, said if there was no permanent policy document there should be one in place immediately.
“The manner licenses are issued to mining companies and later
telling them about policy hastily written is unacceptable”, he said.
Mr Kuyole said there was also the need for government to ensure that there was in place a gold laboratory where purity of the mineral could be tested.
Mr Kuyole said the present situation where minerals were taken out of the country to ascertain purity was improper because the miner could pronounce any figure as coming from results of testing and it could be true or false.
He proposed that a special fund from mined minerals should be set up rather than going into the consolidated fund and that amount should be used judiciously to the benefit of the people.
Mr Kuyole suggested that government should conduct employment audit of all mining companies in the interest of Ghanaians and this should ascertain which jobs could be done by Ghanaians but offered to foreigners.
Source: GNA
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Holy Trinity SPA reacts to allegations of poor services
The Holy Trinity Spa
The management of the Holy Trinity SPA in Sogakope has reacted to allegations of poor services leveled against the facility’s employees by the Majority Leader of Ghana’s Parliament, Alban Bagbin in a report by the GNA that was carried by ghanabusinessnews.com.
In a response signed by the SPA’s CEO, Dr. Felix Anyah, it narrated the circumstances in question and debunked all the accusations by the MP.
According to the rejoinder, the Canadian Parliamentary Centre from November 20 to 23, 2009 organized a Healthy Lifestyle Conferencing Retreat at the Holy Trinity SPA & Health Farm, Sogakofe.
Their business theme was “Review Workshop for Ghanaian Parliamentarians on the Government of Ghana Budget and Economic Policy Statement for the 2010 fiscal year”.
In all 125 delegates including Parliamentarians, Consultants and Support staff attended and used the Holy Trinity SPA & Health Farm’s 300-seater Conference Venue, 60-bed Accommodation and meals for all Parliamentarians and the participants had various health/medical services including Medical Laboratory Examinations, ECG Heart Diagnosis, Sleep Disorder Diagnosis, Stress Analysis Investigation, Colon Detoxification Cleansing, Destressing Massages, Anti-aging Facial Treatment, Detox Infra Red Sauna, Complementary de-stressing Yatch Cruises on the Volta River and Dental scaling and polishing (dental cleaning) at no extra cost against what hotels offer for traditional conferences.
A second facility – a nearby hotel- was used for accommodation of drivers, security and other supporting personnel.
“In certain comments allegedly made and covered by the GNA at the launch of the Ghana Tourist Guide publication on Monday, November 23, 2009, and repeatedly carried by Adom FM primetime news and posted on ghanabusinessnews.com, the Honourable Majority Leader – Hon. Albin Bagbin is reported to have expressed dissatisfaction at our services. In his elaboration on what he considers as poor working ethics, he said our ‘waiters walked away while talking to them,’” it said.
In a follow-up comment by the author of the story, the author enumerated services that the Holy Trinity SPA & Health Farm DO NOT OFFER!! These enumerated services in the article were very curiously the same services that our “pull – him – down “ detractors have always used when in their negative bid to stifle healthy innovative tourism competition, dragged us to the High Court in 2007 AND LOST THEIR CASE IN A JUDGMENT IN OUR FAVOUR.
Some of the services the author higlighted and which we don’t offer included luxury-pampering, adventure, beauty therapy! – it is obvious the author has not seen our numerous billboards, brouchures, fliers, nor visited our web-site www.holytrinityspa.com in the last four years or was intentionality malicious!, the rejoinder said.
“While we do not in any way claim that our staff are perfect, we think the Majority Leader’s statement was not a true reflection of our quality and type of services,” it added.
The rejoinder indicated that the staff at the SPA include Resident Medical Doctors, Nurses, Laboratory Technologists, Psychologists, Dieticians, SPA Therapists, Psychiatrists, physiotherapists, Caterers, Waiters, Receptionists, Exercise Physiologists, Bible – Based Counsellors and several others teamed up to provide preventive, curative, rehabilitative, orthodox, complementary and alternative health/medical services packaged to suit clients convenience and discerning expectation.
A SPA is not a Hotel. The SPA is a Health/Medical Facility, it emphasized.
Questioning the rationale behind the allegations, management asked “why would the majority leader as a legislator who has knowledge of statutory regulatory bodies which have been instituted through parliament to maintain industry standards in Ghana not report a perceived poor standard to the statutory regulatory body, such as the Ghana Tourist Board or the Private Hospitals and Maternity Homes Board. Regulatory bodies have the power to investigate alleged poor services and the power to sanction or recommend a correction in poor services?”
The Budget Review and Healthy Lifestyle Retreat from 25th October 2009 to 29th October 2009 for our Honorable Paliamentarians was very delightful to almost all our Parliamentarians. Health/medical services were hugely patronized by almost all our honuourable MPS!
Not a single person made any negative customer complaint on the many Guest Satisfaction Assessment forms filled during and after the retreat!
The majority leader according to the rejoinder met the Chief Executive Officer of the facility for three days and never reported his alleged poor working ethics but went on air and the internet!!
We have worked hard to be the 34th leading company among Ghana’s Top 100 companies by the Ghana Investment Promotion Centre.
We have even worked harder (including staff training) to become the Leader in the Health Sector in Ghana in 2008, it said.
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Perseus to invest $160m in gold mining in Ghana
Australian gold miner, Perseus Mining will invest $160 million to mine the precious mineral in Ghana, the Managing Director, Mark Calderwood has told ghanabusinessnews.com on phone from his base in Western Australia.
Part of the investment capital is a bank loan facility of $85 million and the rest will be from equity finance.
He told ghanabusinessnews.com that the venture at Ayanfuri in Ghana is Perseus Mining’s first gold mining venture in the country and for that matter Africa.
Calderwood said the motivation to enter the gold mining sector in Ghana is informed by the country’s strong democratic credentials.
“It is also because of the high potential of the project, 200,000 ounces of gold and the strong price of gold,” he said.
Adding that the prospects of Ghana for gold is also a reason for the investment, saying the Ayanfuri project “is the most important project for the company in Africa.”
Even though the company has been in Ghana since 1995, it has only now began operations, and Calderwood said it was due to the difficulties familiar with entering the gold mining sector without elaborating.
In the last two decades, more than US$5 billion have been devoted to new mining projects in Ghana, according to Dr. R. Anthony Hodge, the President of the International Council on Mining and Metals.
Dr. Hodge who is a leading authority on sustainable development in mining, said this in an article published on the online version of the Sunday Monitor, a Ugandan publication in January 2009. He argued that “during that time, the national poverty rate has fallen 12 percent.”
Gold is Ghana’s major foreign exchange earner. According to the Bank of Ghana Gold exports for 2009 at the end of October amounted to US$ 2.1 billion compared with US$1.9 billion for the corresponding period of 2008, an annual growth of 6.3 percent.
And according to the Ghana Chamber of Mines, mining companies paid over GH¢179 million to government in 2008, representing more than 14 per cent of the country’s total internal revenue collection. Mining companies also paid about GH¢73 million representing three per cent of mineral revenue as taxes, levies and duties on the product to government as well as margins to the oil marketing companies.
Ghana is base to some of the world’s leading gold producers like Gold Fields, AngloGold Ashanti and Newmont Gold.
By Emmanuel K. Dogbevi
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African gift fair opens in Accra
The African Art and Culture Development Company Limited (AACD) at Osu in Accra, has opened its 4th African Gift Fair showcasing 24,000 different types of exotic and modern African artefacts.
The artefacts made from authentic local raw materials to satisfy the needs of all segments of society, are being showcase by over 20 renowned artists and craftsmen drawn from all over the country.
The 10-day event, which began on Friday, is under the theme: “African Renaissance”.
Revelling in its past success, this year’s fair is expected to attract thousands of buyers from across the continent.
Mrs Juliana Azumah-Mensa, Minister of Tourism was among a number of dignitaries, who attended the opening of the Fair.
Thrilled at the quality and beauty of the products, she called on all to attend the Fair to patronise the products to boost the country’s tourism industry.
Mr Fidelis Oppong-Mensah, General Manager of the AACD said the crafting of the products coupled with the organization of the Fair was to encourage and promote the use of African heritage.
This year’s event offers visitors the opportunity to observe artists and craftsmen at work as well as purchase products at reduced prices to encourage the industry players to do more to improve on their income.
Statistics show that every 2000 arts products purchased results in the creation of 10 meaningful jobs in the industry and the AACD seeks to develop the industry and extend its activities beyond the African Continent to create more jobs and improve livelihoods.
AACD also hopes to cut down on travel expenses of buyers through deploring other markets as well as reach others who may not have the time to travel to Ghana.
Source: GNA
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Ghana can’t meet annual blood needs
Ghana is unable to meet its annual blood requirement of 150,000 units but Non-Remunerated Voluntary Blood Donation is a credible means of meeting the target, Dr Benjamin Kumbuor, Minister of Health has said.
He said,”the annual blood collection over the years invariably fall below 50 per cent.”
Dr Kumbuor said this when he addressed medical practitioners and blood donors at the ninth National Blood Donor Day and the launch of 2009 Annual Blood Donation Campaign in Accra on Saturday.
The event sponsored by the Rotary Club of Accra, was organised under the theme: “Safe Blood for Transfusion, Responsibility of Every Citizen.”
Dr Kumbuor said the Non-Remunerated Voluntary Blood Donation increased the safety of the nation’s blood supply and noted: “Regular voluntary donors are the safest blood donors and are the foundation of sustainable national blood supplies.”
He paid tribute to all Voluntary Blood Donors and the Rotary Club of Accra for their support to ensure safe and adequate blood supply in the entire country.
Dr Kumbuor said the total units of blood collected from voluntary donors for 2008 was about 40,000 units, representing 27 per cent of the total requirement.
He described it as a far cry of the national requirement adding that this unfortunate situation could affect medical care for the people.
The current state of affairs, he said, ought to change and pledged government’s support to the National Blood Transfusion Service calling and called on all the stakeholders to contribute to its success.
Dr Kumbuor stressed that the importance of safe adequate blood transfusion was critical to reducing child mortality, improving maternal health and combating HIV/AIDS, malaria and other diseases.
He expressed gratitude to the media, religious organisations, educational institutions, workplaces and community groups for their continued support to the campaign.
Dr Justina Ansah, Head of National Blood Transfusion Service, said the theme was chosen to recognise the tremendous assistance the Service had received from the Voluntary Non-Remunerated Donors over the years.
She said it was also to let all Ghanaians know that blood donation should be the responsibility of all.
Dr Ansah said about 60 per cent of blood transfused nationwide came from voluntary blood donors in educational institution, religious organizations and organised groups throughout the country.
“It is our hope not only to attract more voluntary donors but also to keep them interested in donating blood as long as they can,” she said.
One positive side of blood donation, she said, was that it constantly reminded the donor to lead safe lifestyles.
Blood donors nationwide were honoured during the Day in all the regional capitals.
Mr Ali Mohammed of Kumasi, a donor, took the first prize of double door refrigerator having donated 55 times while the second prize of single door refrigerator went to Mr Samuel Amoakohene from Accra, 51 times.
Madame Fawzi Ibrahim from Wa, took a 21-inch colour television set for placing third with 47 times of donation.
In the Greater Accra Region, Mr Patrick Yamenui, Isaac Cobbinah and Reverend Albert Asante, who have donated 48, 44 and 43 times for the first, second and third positions respectively also received some items.
The national youth prize went to Ms Joyce Kanyi from Accra, who has so far donated 13 times. She received a standing fan for her prize.
Source: GNA
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Mills says level of science and technology education in Ghana is low
President J. E. A. Mills
President John Evans Atta-Mills has said the level of Science and Technology Education is low despite the introduction of the subjects into the curricula of basic schools, under the Educational Reform of 1987, and the establishment of some resource centres at the senior high level.
He identified the lack of well-equipped laboratories and workshops, inadequate qualified teachers, lack of incentives for teachers and the misconception that Science and Technology are difficult subjects as some of the challenges that needed to be addressed to improve the situation.
President Mills stated these in an address, read for him by Miss Elizabeth Amoah Tetteh, a Deputy Minister of Education, at the Centenary Anniversary Speech and Prize-Giving Day of the Ghana Secondary Technical School, (GSTS) at Takoradi, on Saturday.
The address was based on the anniversary theme, “100 Years of Science and Technology Education in Ghana – It’s Impact and Challenges.”
The President said: “As a nation, we need more scientists, technologists, doctors, engineers, technicians, agricultural scientists.to support our total national development.”
He commended GSTS for being a model of technical education, saying, “this is a tradition built by the past administrators and teachers of the school who inculcated the spirit of hard work in the students reminding them of the importance of staying focused on the purpose for being in school.”
He urged the students of the school to build on this enviable tradition that had earned the school its outstanding reputation by being disciplined and taking their academic work seriously.
President Mills, therefore, appealed to parents to support their wards towards achieving academic success and attaining high moral values.
Mr Paul Evans Aidoo, the Regional Minister, whose address was read by his deputy, explained that Science, Technology and Mathematics Education (STME) Clinic for Girls was instituted as a project in 1987 with the main objective of bridging the gender gap that existed in the field of Science and Technology.
He said the STME programme is an integral part of the wider national campaign aimed at developing and maintaining a Science and Technology culture among Ghanaians for national development.
Mr Thomas Mensah, headmaster of the school, appealed to the government to assist the school to expand its infrastructure as the student population had tripled since the school was established.
Source: GNA
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Rural banks asked to investigate background of employees
The ARB Apex Bank, has asked the Board of Directors of the Rural/Community Banks (RCBs) to investigate thoroughly the background of people they employ especially those at the managerial level to weed out all shady characters.
Mr Theophilus Obeng, Head of the Micro Finance Unit of the Bank made this known when he addressed the 23rd Annual General Meeting of Nyankumasi Ahenkro Rural Bank, at Assin South District of the Central Region at the weekend.
He noted that rural banking had become a very competitive venture, which attracts many risks and challenges.
He urged the banks to build a strong financial base and improve upon their services to enable them withstand attempts by the traditional banks to poach their customers.
Mr Obeng advised stakeholders of the RCBs to be security conscious to enable them to detect fraudulent activities.
To this end, he advised directors of the banks to organise training courses to update the competence of their staff.
Mr Obeng said though the Nyankumasi Rural Bank made a loss in the 2008 fiscal year, other indicators proved satisfactory and urged the board of directors to work harder to reverse the situation.
“The bank has a brighter future, strive hard to make it,” he stressed.
He said the RCBs were migrating from manual operations to information and communication technology interventions and other new technologies which had made operations very costly.
He therefore admonished the directors and management to ensure that the banks meet the capital requirement of GH¢150,000.00 set by the Bank of Ghana.
Mr Robert Kutin, Chairman of the Board of Directors said in a report that four members of staff, including the manager had been dismissed and handed over to the police for further investigations into fraudulent practices involving GH¢1,747.92.
He said the bank posted a total income of GH¢234, 034.50 in 2008 as against GH¢251, 403.57 in 2007.
Operational expenses also increased from GH¢180, 734.74 in 2007 to GH¢251, 292.98 in the year under review.
The Board Chairman said total assets of the Bank increased from GH¢1,318,085.05 in 2007 to GH¢1,153,666.90 in 2008, representing 14 per cent increase.
The Bank’s deposits increased by 22 per cent from the previous level of GH¢811,502.67 to GH¢995,854.32, whilst investment in treasury bills amounted to GH¢129,548.45 representing an increase of about 288 per cent over the previous level of GH¢33,370.59.
He said loan and advances amounted to GH¢639, 945.83 in 2008 as against GH¢615, 208.94 the previous year.
Mr Kutin expressed regret that repayment of the loans was not encouraging all, forcing the bank to make provision of GH¢6, 000.00 for the bad debt.
He said only GH¢40.40 worth of shares were bought for 2008 increasing the Bank’s paid up capital from GH¢53,172.15 in 2007 to GH¢53,212.19 in 2008, which he described as very appalling.
He said the bank purchased GH¢235, 694.75 worth of cocoa in Akuafo Cheques as compared to GH¢362, 505.20 in 2007.
He however attributed the shortfall to the new distribution style of the Produce Buying Company.
Mr Kweku Acquah, President of the Central Regional Chapter of the Association of RCBs pleaded with the directors and share holders of the banks to make serious efforts to increase their shares to remain in business.
He urged customers to pay back loans for others to enjoy the service.
Source: GNA
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124 rural banks in Ghana offer foreign money transfer
One hundred and twenty-four rural banks now deliver foreign money remittances through the Western Union Money Transfer system, with 350 payment points, Mr Duke Osam-Duodu, Deputy Managing Director of the ARB Apex Bank, has said.
He said plans were underway to include the other banks as the service has brought a big relief to people in rural areas who used to travel to towns and cities before having access to money remitted from abroad.
Mr Osam-Duodo was addressing the 25th Anniversary and 21st Annual General Meeting of the Ahantaman Rural Bank at Agona Nkwanta, on Saturday.
He said the ARB Apex Bank was migrating its Apex Link Money Transfer product as well as the Western Union Product onto an ICT platform to improve upon its services.
Mr Osam-Duodu said the bank had detected some fraudulent activities of some interns and national service persons working with the bank.
These perpetrators, he said, intercept cheques from clearing, destroy statements collected from the Apex Bank Clearing Centres, crone and falsify advices, use the names of known persons at either the Apex Bank or Bank of Ghana to solicit fraudulent assistance from the rural banks, he said.
Mr Osam-Duodu said in view of this, various circulars had been issued advising rural banks to be on the lookout for such fraudsters while rural bank managers should check the validity of all credit advices from the Apex Bank and
cheques with the value of more than GH¢1,000.
Mr John Dadzie, Chief Executive Officer of the Bank, said it recorded a growth in its income of GH¢2,230,078 for 2008 as against GH¢1,982,134 for 2007.
He said this was against the backdrop of significant operational challenges from both external and internal sources.
Mr Dadzie said the profit after tax, however, dropped from GH¢534,533 in 2007 to GH¢403,457 in 2008.
The reasons for the decline include poor performance of the bank’s microfinance product, the Strategic Group Lending, which was launched in 2007.
He said most groups failed to repay credits advanced to them and the problem was deepened by poor monitoring of group activities, which was as a result of the lack of logistics.
Mr Dadzie said growth in operating expenditure over income also hit the bank’s financial performance in 2008 due to increase in staff costs and administrative expenses.
He said the strategies for 2009 are yielding positive results and the profit before tax as at September 2009 stood at GH¢629,078.85.
Mr Dadzie said total assets grew from GH¢8,163,402 in 2007 to GH¢10,261,835 last year.
Mr Joshua Ackah, Chairman of the Board of Directors of the Bank, said the directors had proposed a dividend of GH¢0.0151 per share amounting to GH¢242,326 as against a total of GH¢190,275 for 2007.
He said the bank spent GH¢17,257 in support of its corporate social responsibility in 2008 as against GH¢18,050 in 2007.
In its 25 years of operation, the bank has spent a total of GH¢59,075 in support of institutional and community development projects and programmes.
The modern head office of the bank was inaugurated during the AGM.
Source: GNA
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Wamfie Rural Bank records profit
The Wamfie Rural Bank Limited declared a net profit of GH¢66,909.53 at the end of its 2008 operational year.
The amount is about 27.97 per cent more than the previous year’s figure of GH¢52,286.08, Mr. Herbert Morrison Adjei, chairman of the Board of Directors, announced in his report at the bank’s 27th annual general meeting at Wamfie in the Dormaa East District, of Brong Ahafo Region.
He said the bank’s total assets increased from GH¢3,110,574.80 in December 2007 to GH¢3,194, 581.31 in December 2008, showing a percentage increase of 2.70 per cent.
Mr. Adjei admitted that the phase of banking was changing fast in the country; hence the bank had no alternative than to adapt to current dynamics and the tide of e-banking.
He, therefore, stated that after environmentally face-lifting their banking halls to make them computer-friendly, the bank would respond by investing in e-equipment and e-infrastructure like computers, scanners, installation networks among others, to enable the bank to meet the changing needs of today’s highly competitive banking industry.
The Board Chairman said to maintain their comparative advantage and safeguard the interest of stakeholders, the bank would continue to ensure good corporate governance and ethics, compliance with statutory requirements and the Bank of Ghana (BoG)/ Association of Rural Banks (ARB) Apex Bank directives and improve internal control measures.
Mr. Eric Osei-Bonsu, Managing Director of the ARB Apex Bank Limited, in a speech read for him, emphasized that rural banks had a lot to do by way of organizational and operational restructuring, especially in the areas of migrating from manual operations to embracing information and communication technology interventions; effective deposit mobilization; credit administration; cost control and reduction.
These, he said, would enable rural and community banks (RCBs) to meet the challenges of the changing, competitive and turbulent business environment.
Mr. Kofi Bonsu Boakye-Boateng, Vice President, Brong Ahafo Chapter of the ARBs-Ghana, reiterated that the aggressive competition in the banking sector required that “rural banks should do all it takes to keep their old existing customers by treating them as Queens and Kings.”
He stressed that the rural banks needed to show respect and courtesies to all their customers irrespective of the levels of their deposits.
Mr. Boakye-Boateng, therefore, urged the board and management to consider stationing “very qualified and experienced staff” at the agencies so as to create good public image to new customers whilst treating old customers also with courtesy and extra care in the provision of services.
The occasion was also used to commission a library project undertaken by the bank, in fulfilment of its corporate social responsibilities.
Source: GNA
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Appearance Does Matter. It may be a sad commentary on our superficial society, but appearance does matter. Whether it’s the packaging on your product, the first impression you make when calling on a new client, or your company’s web site people notice how things look. They care about how things look and make judgements about you and/or your product based on appearance.
