Saturday, February 28, 2009


The Ghana Institution of Surveyors has held its 4th annual surveyors week and 40th anniversary presidential lecture on MDG's in Accra. The week celebration was under the theme : " The surveyor and the millennium development goals".
The Presidential lecture was also dubbed :Achievement of the millennium development goals in Ghana-a reality or a mirage? The role of the surveyor.Speaking at the the lecture, the President of Ghana Institution of Surveyors Mr. Jonathan Allotey Abbosey said it will be in a right way aligning with the goals and objectives of the MD G's with the growth and poverty reduction strategy. " The clarion time is now.Let us leave our footprints on the sand of our national development agenda and help make life better for our own people by assisting the government to implement decisions that will help achieve these targets.That is our challenge as professionals".Some vital talks were centered on the MDG's ,agreed national targets,HIV/AIDS,malaria combat and eradication of extreme poverty among others.
The lecture will be follow with an Annual General Meeting (AGM),Gala dinner Night with the President of Ghana and a thanksgiving service as part of the week celebrations.
BY:Michael Amedor.


Mr. Jannik Vaa a representative of the European Union out of shame walked out of a public forum on oil because he disagreed with criticisms directed at some of Ghana's development partners. "This is not the way to dialogue" and stormed out of the forum, which was jointly organized by the Integrated Social Development Centre (ISODEC) and Oxfam America with sponsorship from the Ghana Research and Advocacy Programme (G-RAP) in Accra.

Mr. Vaa was referring to earlier criticisms directed at the International Finance Corporation (IFC), the private sector financing arm of the World Bank Group for not having Ghana at heart but rather always interested their country's well-being.

Some criticizism were IFC's last week's approval of a joint bid from Kosmos and Tullow Energy seeking a $215 million finance package for the development of the Jubilee Oil Field, despite objections from Ghanaian civil society groups and their international partners.

The CSOs had argued there was no completed Environmental and Social Impact Assessment (ESIA), which had been approved by the Environmental Protection Agency of Ghana.

It is internationally accepted that the purpose of an ESIA is to assess the potential impact of a project prior to approval to determine whether, and under what conditions, it should be approved.

The CSOs had emphasized that the absence of the ESIA meant "IFC undermines an international professional norms and drags down international good practices."

A participant at the forum was of the view that the World Bank Group, the EU and other "development partners" did not have the interest of Ghanaians at heart. Instead, they were only interested in what they could take away from Ghana.

He justified his position, citing the case of the mining sector where various rights had been abused by mining companies and yet the "development partners" found no wrong in those acts.

Ironically, Kyle Kelhofer, who represented the IFC, took no offence. Responding to the comments, Mr. Kelhofer said an IFC team was expected in Ghana next week and they were prepared to dialogue on some raised consents and react appropriately.
World Bank's public affairs manager , Mr. Kofi Tsikata said Ghanaians should not only hold their governments accountable but also development partners.

The public forum was organized to offer a platform for various interest groups to deliberate on some of the critical steps for the Ghanaian government, donors, oil companies, and civil society to partake in order to maximize gains from the coming oil boom.

The occasion was also used to launch a research report titled: Ghana's Big Test: Oil's Challenge to Democratic Development. The report essentially reviews goings-on in the sector so far and makes recommendations that will help Ghana avoid the "oil curse".

Among others, it recommends that Ghana should develop policy principles, a master plan, and regulations in sequence and as a package. It also encourages the disclosure of all petroleum agreements and licenses. It says "The government will be in a better bargaining position and receive better outcomes if all actors know that agreements will be disclosed."

Presenting an overview of the report, Ian Gary, the author and a Senior Research Advisor of Oxfam America in charge of Extractive Industries, stated that oil could easily undermine the progress that has been made.

Friday, February 27, 2009


Consultations between the government, labour and employers towards the implementation of the single spine salary scheme in the public sector today kicked off again with a pledge by government to ensure equity in the pay system. Dr. Kwabena Duffuor, Minister of Finance and Economic Planning, who made the pledge, reiterated President John Evans Atta Mills' promise in his maiden Sessional Address that government was committed to pursuing a wage policy aimed at ensuring equity in the pay system while tying workers' remuneration to productivity.He made the statement at his maiden meeting with representatives of organized labour, employers and other stakeholders as part of consultations with government's social partners before this year's budget statement is finalized. The organizations represented at the meeting included the Trades Union Congress (TUC), Civil Servants Association (CSA), Ghana Employers' Association (GEA), National Association of Graduate Teachers (NAGRAT), Public Sector Reform (PSR) and Fair Wages and Salaries Commission (FWSC).Also at the meeting was Mr. Steven Amoanor Kwaw, Minister of Manpower and Social Welfare. The processes towards public sector pay review in general and the single spine salary scheme in particular began in 2006 under the previous administration and even though portions of the report on various stakeholder consultations were completed last year the process was stalled until the new administration came into office.Dr. Duffuor said in kick-starting the process again, government wanted to assure workers of its commitment to running an economy stable enough for organized labour to benefit from the fruits of their labour in real terms and for businesses to grow. He therefore called on all relevant institutions such as the Fair Wages and Salaries Commission, Ministry of Manpower and Social Welfare and the Ministry of Finance to begin the consultation process immediately."I will also urge the National Tripartite Committee, the body mandated by law to determine the National Daily Minimum Wage, among others, to immediately start the process of the determination of the 2009 National Daily Minimum Wage," he said. He, however, cautioned that in kick-starting the salary negotiation process, there was the need to be mindful of the enormous challenges facing the economy which was threatening the macroeconomic stability necessary for accelerated growth.The Minister assured stakeholders of an open door policy by the ministry on issues of equitable salaries to ensure a peaceful political and industrial atmosphere. Mr. Kwaw said it was important to build bridges between labour, employers and government to ensure peaceful co-existence.


Ms Samia Nkrumah, CPP Member of Parliament for Jomoro, said she would submit to parliament proposals to review the House's standing orders, to allow other minority parties to express their independence in the house. Ms Nkrumah, who was speaking at a public lecture organized by the Greater Accra regional branch of the Convention People's Party (CPP) in Accra to mark the 43rd anniversary of the overthrow of Dr Kwame Nkrumah and to chart the way forward for the party, said the move was also to allow other minority parties to transact parliamentary business on their own.

Currently, parliament's standing orders allow members to either sit as majority or minority caucuses with all minority parties in parliament deciding to sit either among the largest minority party or the majority party when transacting business in the House. As the only parliamentarian on the ticket of the CPP, Ms Nkrumah said she wanted to sit alone in the house to enable her to express her independent thoughts on issues to reflect the position of the CPP as a party and the larger interest of Ghanaians.

She said Dr Nkrumah, the first President of Ghana and founder of the CPP, always espoused ideals of liberty, justice and unity, which were still relevant to the liberation of Ghanaians from their current economic woes, an ideology she wanted to pursue vigorously. Ms Nkrumah pledged to work to ensure that the works and writings of Dr Nkrumah were available at all levels for everyone to read and understand Nkrumaism, to prevent attempts by anti-Nkrumaists to distort the history of Ghana and her independence struggle.


Hundreds of security operatives, public and civil servants employed between 2001 and 2008 at the Presidency and the National Security Council are on the verge of being sacked as they have been taken off their schedules.The affected government employees have been separated from their colleagues and ordered to report at the National Security Office behind the Ohene Djan Sports Stadium in Accra for interrogation and cross-examination everyday.Already, DAILY GUIDE can report that 41 security operatives have been sacked from the Osu Castle and asked to report every morning to sign attendance book and go home.Others have been scattered across various small government offices in Accra; some of them have neither furniture to sit on nor roles to play in their new offices.The politically motivated action in being orchestrated by President Mills’ security goons including National Security Advisor, Brigadier Joseph Nunoo-Mensah (rtd) and the National Security Coordinator, Lt Col Larry Gbevlo-Lartey (rtd) from the Castle Annex, otherwise called Blue Gate.The sereneness at the National Security Council is nothing but a facade over a boiling situation in which staffers considered politically incorrect are subtly shown the exit from the Blue Gate.The affected staff, made up of mostly those employed between 2001 and 2008, have not been formally shown the exit, but they are asked to come to their places of work and sign an attendance book and retire to their various homes - a development which has raised suspicion among the intelligence operatives who have understood the official body language of the top men in charge of the once dreaded establishment.This situation was preceded by a stressful auditing of staff engaged in the past eight years, with each being interviewed on details of when they were employed and their roles in the intelligence department in the period aforementioned.Of particular importance to the team engaged in the auditing is how the officers were employed.Even as the auditing continues, the Gbevlo-Lartey-run National Security outfit has also employed a number of operatives, a normal phenomenon when a new government is in place. For those who have so far been interviewed, it is only a matter of time before they are shown the exit.Information reaching DAILY GUIDE suggests that other intelligence-related outfits like the Bureau of National Investigations (BNI) are passing through similar auditing although on a more subtle fashion than the National Security Council.A certain bearded man, whose name is only given as Gustav, is said to be busy and prominent in the human sieving, an exercise labeled as political by those who have heard about it.Some of the newly-employed have proceeded for a training programme germane to the intelligence vocation including weapon training, and basic intelligence gathering.A few staffers of the department have already resigned sensing what for them could be a regime of vindictiveness at the facility.One of the staff who spoke to DAILY GUUIDE noted, “I have already written to them and my request accepted. In fact I have packed out of the official accommodation.”There is also an ongoing plot to malign another group of civil and public servants in an attempt to smoke them out of their jobs because they are perceived as not belonging to the National Democratic Congress (NDC) while some are related to top shots of the New Patriotic Party (NPP).The Controller of Households at the Office of the President, Sheila Sackey, who is the daughter of Brigadier General Robert O. Sackey, Commander of the Ghana Armed Forces Military Academy, has fallen victim to this smear plot that is aimed at smoking her out of the position.“They would ask you if you are new, old, or old-old. The ‘new’ are those who started to work at the Castle this year, the ‘old’ are those who came there during the Kufuor administration and the ‘old-old’ are those who were there before the NPP came to power.“Those of us who fell within the old category were reassigned and now we are being interrogated at the Blue Gate; a colleague in the ‘old-old’ told me that she was nearly sacked because she was seen speaking to me near the Castle after work,” one of the reassigned workers told DAILY GUIDE.The interview panel at the National Security Office is said to be a six-member team whose aim is apparently to know the political affiliation of the said workers and why some of them were seen at a number of New Patriotic Party (NPP) functions.The operation includes the planting of malicious stories in the media against such persons, smuggling confidential information from the office files of the targets and giving them to a particular media house, linking the targets to alleged irregularities of the out-gone government as well as framing up such persons in their respective offices.The motive is to damage the reputation of the said workers to an extent that they would get frustrated and resign from the service as it is practically impossible to terminate their appointments without offending labour laws.DAILY GUIDE can report that some top guns in the corridors of power are uncomfortable with Sheila Sackey working at the National Security Office and have therefore given out distorted information on her to a pro-NDC newspaper and contracted a number of persons to run her down.In the past weeks, the newspaper has consistently published damaging but fabricated reports about the lady and presented her as though she did not qualify for the position she occupies.Contrary to claims that Sheila Sackey holds a Second Class Honours- Lower Division- from the Kwame Nkrumah University of Science and Technology (KNUST) in Kumasi but managed to bypass everyone at state protocol to the top within the twinkle of an eye, checks by DAILY GUIDE revealed that the lady wields an MBA. Only a university Diploma is the educational qualification required for the job she is doing.Sheila Sackey, who has been presented as a young girl in her mid 20s but has acquired several landed properties in many parts of Accra, has turned out to be a 33-year-old lady whose only landed property is her residence in Cantonments.Interestingly, the passport seized picture on the office file of Sheila Sackey at the National Security Office is the same picture that the media is publishing; a situation which creates suspicion that someone at the office might have leaked the picture to the media.Contrary to claims that the Controller of Households at the Office of the President is a job put aside for retired Colonels, but was unfairly given to Sheila Sackey, checks from the National Security show that the last person to have held that position was a Warrant Officer.
Source:Daily Guide

Thursday, February 26, 2009


The National Disaster Management Organisation (NADMO) has urged the public to repair their buildings and structures and protect their property against wind and rainstorms during the approaching rainy season.A press release signed by Mr Kofi Portuphy, National Coordinator of NADMO, said the Ashanti and Brong Ahafo Regions had already recorded a number of rainstorms resulting in the destruction of properties. The release said windstorms and rainstorms were natural occurrences and the extent of their effect on populations and the environment depended on the levels of preparedness of communities towards them. It added that, schools and hospital officials were advised to take steps to protect life and property from storms while the general public was reminded to listen and adhere to weather warnings by the Meteorological Services Department and all other specialist agencies. "It is therefore hoped that Disaster Management Committees at the regional, metropolitan and district levels will strengthen efforts in order to deal effectively with these occurrences." NADMO urged the public to plant trees as windbreaks to protect houses, schools, hospitals, palaces, churches and mosques against storms.


Eighty-three percent of the 78 new projects recorded in the last quarter of 2008 were located in Accra, the latest quarterly update of the Ghana Investment Promotion Centre (GIPC) has indicated.Investors cited improved infrastructure as the primary reason for locating their projects within the Greater Accra region.Seven out of the 10 regions of the country benefited from the registered projects by way of their location, which amounted to GH¢410.01 million (US$410.01m).It comprised GH¢391.86 million (US$391.86 million) worth of re-investments (capital goods imported) and GH¢18.15 million (US$18.15 million) equity transfers for new projects registered.For the corresponding quarter of 2007, the total investments for 89 projects registered was GH¢953.21 million (US$953.21 million).Of the 78 projects registered during the quarter, 51 are wholly-owned foreign enterprises and 27 ­representing 35% - are joint ventures between Ghanaians and their foreign partners.The total estimated value of the quarter’s newly registered projects was GH¢215.62 million. GH¢4.99 billion was recorded for the same period in 2007.The joint venture projects are valued at GH¢144.08 whilst the 100% foreign-owned enterprises are valued at GH¢71.54 million.The sectoral composition of the new projects saw the service sector recording 22 new projects valued at US$12.62 million, followed by general trading registering 18 new projects valued at an estimated US$6.49 million with manufacturing seeing 13 new projects registered with an estimate value of US$142.75 million.Tourism followed with eight new projects registered, valued at US$ 0.49 million; with building and construction registering seven new projects valued at US$1.82 million followed by export trade registering four new projects valued at US$0.23 million.From the number of new projects registered during the quarter under review, it is expected that 10,818 jobs will be created.92.64% (10,022) of the total jobs being created will be for Ghanaians and the remaining 7.36% (796) for expatriates.The total new investment for 2008 was GH¢3.17 billion (US$3.19 billion), a significant increase of over 160% from GH¢1.15 billion (US$1.2 billion) recorded in 2007.309 new projects were registered for 2008 with a total estimated value of GH¢4.83 billion (US$4.89 billion), a decrease of 13.7% from 2007 - when a total number of 308 projects registered recorded a total estimated value of GH¢5.27 billion (US$5.67 billion).


The National Media Commission (NMC) on Thursday said it would conduct an inquiry into concerns raised about fairness by the state-owned media in presenting divergent views and dissenting expressions. The Commission, in a statement in Accra said the inquiry was in line with its statutory mandate under Section 2(d) of the NMC Act, 1993. It said the Act enjoined NMC to "take measures to ensure that persons responsible for state-owned media afford fair opportunities and facilities for the presentation of divergent views and dissenting opinions".The statement said the inquiry would cover Ghana News Agency, Graphic Communications Group Limited, New Times Corporation and Ghana Broadcasting Corporation. "It is the hope of the Commission that the inquiry will help to strengthen professionalism in the state-owned media," it said.gna


Ghana's Black Stars maintained their winless status at the ongoing African Nations Championship (CHAN) after being held to a one all draw by Libya in their Group B clash on Wednesday at the Stade de la Paix, Bouake.Earlier the one all draw between DR Congo and Zimbabwe had made the group open, but the Stars failed to make use of it.Stars coach Milovan Rajevac, sent off during the latter stages of the game, made four changes to his squad with Wa All Stars defender, Isaac Owusu, Jordan Opoku and Kwadwo Poku (Asante Kotoko) and Harrison Afful all getting places in the starting line-up.Opoku replaced Captain Edmund Owusu-Ansah in midfield, Afful for Habin Mohamed at the left back, Poku for Yaw Antwi in attack and Owusu for the suspended Ofosu Appiah.Both teams struggled to make any meaningful impact in front of goal in the early stages of the game characterized by midfield action.But the Libyans who paraded a side similar to the squad that beat the Black Stars by a lone goal in Tropoli in the penultimate clash of the first round qualifiers for the 2010 World Cup/Africa Cup of Nations appeared deadly when in possession.In the 25th minute Osama Ahmed broke the deadlock after finishing off a free-kick. Burly defender Younes Shibani deceived the Ghanaian human wall who had envisaged a direct kick by squaring to Dawoud Omar. Omar fetched Ahmed who shot past goalkeeper Philemon McCarthy for the opener.Five minutes on, Shibani almost added to his side's lead with a thunderbolt from the same spot from another free-kick, but this time McCarthy was up to task.Milovan brought on Antwi for the second half in his quest to strengthen his attack, but the result was not forthcoming.Three minutes to the half hour, the Serbian introduced Hearts of Oak's injury-stricken midfielder Charles Taylor for Francis Coffie, and the former's first touch almost gave the equalizer.Taylor's glancing header from Ibrahim Ayew's cross from the right hit the cross bar with Libyan goalie Samir Abud completely beaten.The introduction of Taylor brought some bite into the Stars attacking line and consistently the Greens were pinned to their half.In the 69th minute the crossbar again denied the Ghanaians the equalizer before Edmund Owusu scored in 75th minute.Ghana had to play the last three minutes without coach Rajevac who was sent off for consistent crossing the technical area.The Serbian watched the remainder of the game from the VIP Tribune as his side claimed their second draw at the championship.The Black Stars will face leaders DR Congo in the final group fixture at the same venue on Sunday while Libya faces Zimbabwe in Abidjan.Line-upGhana - Philemon McCarthy, Samuel Inkoom, Harrison Afful, Isaac Owusu, Godwin Osei Bonsu, Daniel Yeboah, Jordan Opoku, Emmanuel Agyemang Badu, Ibrahim Ayew/Edmund Owusu Ansah, Kwadwo Poku/Yaw Antwi, Francis Coffie/Charles TaylorLibya - Samir Abud, Dawoud Omar, Younes Shibani, Esnani Mohamed, Allafi Riyad, Osman Ahmed, Zuway Ahmed, Abdusalam Nader, Hmadi Osama, Ben Saleh Osama, El Mughrabi Mohamed


... names Kwarteng as Director of Communications

The New Patriotic Party (NPP) on Thursday announced the appointment of Mr Kwaku Kwarteng as the party's Director of Communications.Mr Kwarteng, a former government spokesperson on finance, would head the Communications Directorate of the party, a statement signed by Nana Ohene-Ntow, Secretary General of NPP, said.The statement also announced the appointment of Mr Perry Okudzeto as the Deputy Director of Communications.It said Mr Kwarteng would be responsible for managing the party's relationship with the media and the general public. Dr Arthur Kobina Kennedy was the NPP's communication spokesman during the 2008 election.

Wednesday, February 25, 2009


Leasing, an emerging industry in Ghana, has received a major boost following government's decision to use the mechanism as an alternative to provide a lifeline of credit to small and medium scale industries to make them viable. Vice President John Dramani Mahama said government was giving recognition to the leasing industry because it provided an "innovative platform" which local entrepreneurs could utilize to boost their capital and to invest in new sectors of the economy such as oil and gas. "The objective of government is to further advance access to affordable and efficient financial products that support the development of a viable private sector," he said

"We believe that leasing is an option to deliver on the infrastructural and other platforms required for sustained economic growth of Ghana," the Vice President added. He was speaking at the First Forum on Leasing underway at the La Palm Royal Hotel in Accra with the objective of devising the necessary legislative instruments that would make renting a sustainable business in Ghana.

Deliberation at the forum would also focus on developing appropriate financial principles that could serve as a basis for capital formation and economic development, particularly for the small and medium scale industries, using leasing as the platform.

Vice President Mahama was emphatic about the need for government to use the instrument to strengthen the competitiveness of local industries by pledging support for legislative actions that would make the industry become a major source of capital formation.

Affirming support for an industry which has seen a phenomenal increase in its market portfolio from 51.3 million US dollars in 2006 to 107 million US dollars in 2007, Vice President Mahama said its development would be beneficial to the country as a preferred destination for both local and international investors.

"Ghana must deepen and implement medium to long term investment reforms that can improve our international competitiveness, diversify our economies and help us adjust to the spectre of lower commodity prices," said the Vice President in his justification for what is expected to be a major industry in Ghana in the foreseeable future. Government's interest in the industry is not far-fetched as the sector has posted some impressive figures in recent times.

The banking industry alone increased its portfolio in that sector from 22 million US dollars in 2006 to 71 million US dollars in 2007, an increase of over 220 per cent.

Mr Ernest Mintah, President of the Ghana Association of Leasing Companies (GALCO), said the sector could even perform better if the necessary laws were passed to regulate the industry. He appealed to government to consider introducing rebate related policies such as "capital allowances" as a way of attracting more investors to the sector.

The Swiss Ambassador in Ghana, Mr. Nicholas Lang, asked government to work towards removing bottlenecks which were hindering the effectiveness of the industry through innovative programmes. He said the forum should work towards decentralization of the activities of leasing companies so that small companies in the districts could benefit from their services.

Both Mr. Robert Ahomka-Lindsay, Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC) and Madam Imoni Akpofure, Country Manager of the International Finance Corporation (IFC), expressed delight that the sector could serve as a medium for generating employment and reducing poverty by means of enhancing the effectiveness of the private sector.

The development of the leasing industry, which is being spearheaded by the GIPC, the IFC and a Swiss Government agency, the State Secretariat for Economic Affairs, is premised on the fact that when properly developed, the sector could generate more than 300 million US dollars in 2009 alone.


The German Embassy in Ghana has warned the public to beware of visa contactors who claim they could secure German visas for young soccer players to stay in a training camp in the Federal Republic of Germany.

"We would like to remind the general public to desist from making use of the services of self-appointed visa contractors," a release from the Embassy in Accra warned.

The statement noted that the company named Worldlinque, which had representatives in Ghana, had recruited young soccer players in Ghana via TV-advertisements among other channels, offering to facilitate their stay in a training camp in the Federal Republic of Germany. It noted that the applicants were said to have paid GH¢3,000 to secure the necessary visa and to participate in the training camp. The Embassy said no provisions for the training camp had been made at the time of submitting the visa applications, adding that, invitations from Germany which had been presented to the Embassy had been falsified.

The statement said the Criminal Investigations Department of the Ghana Police Service had therefore been roped in and was investigating the matter.


Mr Mike Hammah, Minister of Transport, has disclosed that government's strategy for the provision of efficient, cost effective, safe and environmentally friendly transport system would involve a total revamp of all the modes of transport. A press release issued by the Ministry and signed by the Public Affairs Director, Mr Kweku Sersah-Johnson, said though it may appear that the rail sector was getting more attention in the quest for funding, the ultimate goal was to upgrade the air, road, rail and water transport systems to play a catalyst role in the nation's economic development.

The Minister made the assertion when Mrs Ruchi Ghanashyam, Indian High Commissioner, paid a courtesy call on him in his office in Accra. The statement said government was aware that its quest, as a people-centred administration to improve the living conditions of the people, depended heavily on the provision of infrastructure as a significant platform to launch the development agenda. It said the High Commissioner pledged her country's support to the efforts of the new administration to make Ghana a self-sufficient and economically buoyant state.

The release said Mrs Ghanashyam said the Indian example of relative success in the transport sector was borne out of the fact that the country took into serious consideration its large population and realized that rail transport ought to be given priority attention. It said Mrs Ghanashyam agreed with the sector Minister that infrastructure development was key to a nation's growth and that India was prepared to share her experience with Ghana.

Tuesday, February 24, 2009



This press conference is being held to highlight the outcome of a two-day stakeholders consultative roundtable convened by the media Foundation For West Africa (MFWA)and Free Voice a Detuch media support organization to finalize the process of establishment of a West Africa Media Development Fund(WAMDEF).
WAMDEF is a development fund being promoted by MFWA and Free Voice to provide support through loans and capacity building to private and indepent media houses in West Africa.West Africa media operate under very challenging economic and financial conditions.Most of these media houses are establish on very weak capital base with thebresult b that they atre fragikle and susceptible to commercial interest.Yet these media houses play a crucial role in development as well as the sustenance of voices in society encouraging debate and providing to information.
A feasibility study of media condition in 10 out of the 16 countries in the sub-region recommended that one of the mechanis for addressing these challenges is the establishment of a media development fund to serve as a catalyst forimproving the economic conditions of these media organisations.
WAMDEF is therefore being set up as a non-bank financial institution with the primary goal of disbursing approximately US $20million to about 250 media enterprises within the sub-region between 2010 and 2014 on a revolving basis.
Strengthen the private and independent media in west Africa through this provision of access to finance and capacitybuilding and thereby contribute to media development,pluralism,free expression and democracy in the region.Ehance the media's access to credit,finance the development of media business and leverage resource ofpartner of orgnizations in support of this effort.
At the rountable,stakholders comprising media owners and managers,interest groups,donor agencies and other relevant sectors discussed and reviewed a number of documents including a feasibility study report and s business plan for the proposed fund.Presentations were made on experience and initiatives from similar funds in other parts of the world,notabely the media development loan fund (MDLF), a global fund registered in New York;the southern Africa media Development Fund (SAMDEF) and the Africa Media Intiative (AMI).
Other discussion centered on the experiences of commercial and development financing of media in West Africaand Media development assistance policies and programmes of development agencies.Stakeholders at roundtable unanimously endorsed WAMDEF and indeicated their commtiment to making it a successful and viable initiative.The consultative meeting will be followed by a numberof processes: engaing a start up management team to develop detailed plans to mobilize fund and establish structures for the commencement of operations;incorporationof fund under the laws of Ghana as a commercial company limited by guarantee and appointment of the initial board of Directors for the fund.
WAMDEF plans to commence lending operations by January 2010 with approval of initial loans.
It is hoped when the fund finally becomes operational,private and independent media organizations West Africa will take advantage of this initiative to enhance their capacities:become sustainable,remain independent,proffessional and thereby position themselves for contributing to deepening and strengthening of democracyin the sub-region.

Monday, February 23, 2009


Members of the Nkrumah Foundation lead by Prof.Agyemang Badu Akosa have held a press conference in commemoration of Dr. Kwame Nkrumah 43rd anniversary of his overthrow in 24th February 1966 in Accra. Speaking at the press briefing the president Prof.Akosa said on the occasion of the anniversary the foundation condemns the negative forces within and outside the Nkrumaist family who over the years had resorted to all sort of political machination to denigrate the towering vision, philosophy and ideals of Nkrumah. "As committed Nkrumaist we call on all Nkrumaist and other progressive forces to re-dedicate ourselves to the visionary ideas of our great leader and founder of modern Ghana-Osagyefo Dr.Nkrumah. We would also like to appeal to all Nkrumaist to join us in our efforts to celebrate the centenary birthday of African illustrious son". Prof Badu Akosa said the celebration should be used to remind all Nkrumaist that the best to offer on his centenary birthday is to use the centenary birthday to rekindle Nkrumah's –anti-imperialism, pan Africanism and vision and act to serve as a progressive centre of organization to mobilize our people for realization of the "unfinished" business of Nkrumaism.He thanked president Mills for demonstrating his true credentials as an Nkrumaist by declaring in his state of the nation address ,that,Nkrumahs birthday 21st September will now be observed as a public holiday "Founders Day".Prof.Akosa further reiterated that the naming of the gateway to Ghana through our airspace "Kotoka International Airport" should be reviewed and asked whether reasons ascribed forty-three years ago to the name are still valid in our modern democracy. Dr Amilcar Cabral tribute to Osagyefo Dr.Nkrumah stated that "These are the truth we must utter to each other at this moment, but we must above all tell those who like to shed crocodile tears over mortal remains of Kwame Nkrumah. The African people and particularly the freedom fighters cannot be fooled. Let no one come and tell us that Nkrumah died from cancer of the throat or any sickness.No, Nkrumah was killed by the cancer of betryal, which we must tear out by the roots in Africa, if we really want to liquidate imperialist domination definitely on this continent. We the liberation movement will not forgive those who betrayed Nkrumah. The Ghanaian people will not forgive .Progressive mankind will not forgive .Let those who are due for rehabilitation make haste to rehabilitate themselves. It is not yet too late" he said. He observed a flash back of some productive things the then president Nkrumah did to sustain the economy giving total comfort to the Ghanaian in terms of sufficient works, patriotism among others which have lost its values today. A kindle possession to the Kwame Nkrumah Museum in Accra will be hosted in the evening as a flash back of events among others leading to his overthrow.


By Brooke Nuwati (

“The greatest gift ever had came from God; I call him dad”
Sorrow fills my heart this sad moment, a sorrow that is deep and personal. Daddy has silently closed the door of life and departed from me. My life will be empty in the many areas that he had so brightened for me.
I carry in my mind and heart precious memories of a special dad. Dad was one of the most gentle, thoughtful and charitable men who ever lived. His kindness and warmth attracted many people to him, forming good relationships and friendships that he had sustained and protected over the past 50 years of his life.
Daddy became my friend, rather than my father especially in the past couple of years when we called each other by very endearing pet names. He called me “Brooklyn my angel” and I called him “Herberto”. We became so close I could share virtually any secrets with him without any feelings of fear or terror that I felt towards him when I was much younger. Believe you me, as much as daddy was free-going, he was also a very strict disciplinarian – he believed in spare the rod and spoil the child. I still find it so difficult to convince myself that I’m reading a tribute to your memory that you are no longer physically with us. Indeed your frequent phone calls to me “your angel” have ceased.
I’ll always remember his sense of humour and his laughter – warm and contagious. Daddy allowed me to make my own choices in life and always offered his support and guidance even though he sometimes didn’t agree with what I wanted to do. When I decided to read Communication instead of Law (which had always been his dream for me) he only said … “you can read Communication if that’s what you want, but I hope you’ll read Law for me one day”. He offered his full support in my decision to read Communication Studies, my preferred choice.
In a recent conversation with us, he told Rich, my younger sister to follow her heart and do what she wants to do and not allow anyone to force her to do anything against her will. I have come know and believe that he gave us the greatest gift a father could give his children … he believed in us. I’ll also remember dad’s love for his family. The security he wrapped around us made us sure that we were loved. I know that his love will always be with us.
Dad always told me …
“Brooklyn, do you know that if there was an opportunity that required me to choose between you and I, who should go to a nice place like America, I’ll let you go?
I believed him and I knew dad could die for his children just to make them happy.
When I was in the boarding house in my secondary school days, dad became a father and a friend to many of my friends due to his frequent visits. In fact, he was known by almost every teacher and all my classmates. He was almost like a staff! I remember how he didn’t mind to bring me food “home cho” and sit by me for a while just to encourage me on my studies and share other lighter issues with me.
Albert Einstein said, “the value of a man should be seen in what he gives and not in what he is able to receive.” In one word, daddy was a man who gave. He gave much to his family, work and society as a whole. That is why ladies and gentlemen as we bid goodbye to him, I would like to speak in celebration of his life. Here was a simple life that demanded notice … a life that exemplified diligence with humility … a life that inspiered emulation … a life that burned so that others’ paths were lit. At least a few young people among us here today owe so much to my father, who in his small way helped to make them contented men and women today.
Your sudden departure has brought my world crushing daddy, what do I do with all the promises that we made to each other? You gave your entire life for me and for Richlove. I only prayed and hoped that you lived long enough for me to say thank you daddy in that special way that I have always wanted to. You denied yourself so much pleasure just to make sure that we were loved in a special way. In fact my friends always envied me any time they got close to me enough to know that simple but loving man who made sure I had at least a little of every good thing. You sacrificed so much for me. Why did you have to leave so soon? You left without a word daddy, not even goodbye to Rich, your little angel.
But no, I will not despair, I will continue to live your name and make you proud even as you rest peacefully with the Lord. I believe that you were called by your father for a greater reward that you deserve for your good work, a reward that I can never give you.
Herberto dear, I’m deeply and sincerely saddened by your sudden departure. I will forever hold you dear to my heart. Nothing or no one can ever take your place in my life. You have indeed created a huge vacuum in my heart. But I thank God that you have given me so much to live for, including some of the timeless virtues by which you were known by your kith and kin. I have come to understand and appreciate what you’ve always taught me about life. If you were a great speaker like John Maxwell, your philosophy on life would have read like this …
“ ... sooner or later, a man, if he is wise, discovers that life is a mixture of good days and bad, victory and defeat, give and take. He learns that it doesn’t pay to be a too-sensitive soul, that he should let some things go over his head …”
With these words, I can’t help but take consolation in the fact that you indeed knew about such a day as this. We trust that everything happens for a reason, even when we are not wise enough to see it. More ultimately, I am consoled with the trust and hope that you have been called by your maker who will give you eternal peace and joy.
Thank you daddy for all the wonderful times you have given us and the affection you have shown me. They are forever etched in my memory.
Daddy, Herberto, hede nyuie!!! Damirifa due!!!
Till we meet again in greater joy and love, rest in eternal peace.


.…over seizure of his car, harassment of Bawumia

The 2008 Presidential candidate of the New Patriotic Party (NPP), Nana Addo Dankwa Akufo-Addo, who has decided not to criticize President John Evans Atta Mills for at least six months, is going to renege on his pledge, according to the Chronicle newspaper.This paper has gathered that the former NPP candidate is deeply worried about the actions of government operatives against known NPP members, which is contrary to the President’s assertion to ensure unity, peace and above all to be the father of the nation.This Chronicle was informed that what traumatized the former Abuakwa South legislator was how his running mate, Dr. Mahamoud Bawumiah, was subjected to harassment and detention of his vehicles at theTamale Airport last week, and the rampant seizure of vehicles belonging to private individuals.According to aides close to the NPP guru, the actions of the operatives of the government has set tongues wagging because consistent appeals by him (Nana Addo) and the NPP leadership to the President to call his supporters to order, has fallen on death ears.According to the source, though Nana Addo had accepted the apology rendered to him by the government over the unlawful seizure of his car, however, the recent harassment of Dr. Bawumiah has rendered the apology worthless.‘As a human rights activist, he deems it fit to cut short his trip and break his silence by taking the fight to President Mills. Nana has been under pressure from the party members on these issues of harassment, and he has planned to seriously fight for the party members,” one of the aides said.When Mr. Gabby Asare Otchere-Darko, the Executive Director of Danquah Institute and one of the Aides to Akufo-Addo was contacted, he confirmed the story. “I am aware that a lot of concerns within the party has reached Nana Addo, but he has decided not to speak even, though that is not his style. He has now decided to speak,” he said.Mr. Gabby Asare-Octhere-Darko hinted that though Nana Addo was not noted for keeping quiet, especially on matters of human right issues, he was of the view that President Mills should be given ample time to work, stressing that he would contradict his own decision to keep mute for at least six months.“He has been very unhappy with certain developments after the elections and is considering seriously speaking on these matters any moment from now,” he said.Mr. Asare-Octhere-Darko, who travelled with Nana Addo outside the country and returned last week, could not tell exactly when his boss would speak, but hinted that Nana Addo has already spoken to Dr. Bawuamih on the matter.Meanwhile, this paper has learnt that the NPP leadership would organize a press conference this week over similar issues.
Source:Ghanaian Chronicle


The Ghana parents' Association for Childhood Cancer (GHAPACC) has been formally launched in Accra.At the launch the chairman of GHAPACC Mr. Kwame Aveh said the mission of the orgnization was to contribute to the health needs of children with cancer and other life threatening blood disorders and their families. " This is very important". He attributed their objectives such as providing support for children,to advocate for improved care for children with cancer and other life threatening blood disorders,provide avenues for parents and families to interact and share common knowledge experience and to organise support groups to assist children and their families to cope with the stress that the diagnosis brings among others.Dr. Lorna Awo Renner a paediatrician who is also part of GHAPACC in her address sai, there is less than 20% chance survival of long term of cancer patient due to lack of trained health workers to manage cases,limitation with diagnostic capacity,limited acess to the two paediatric caner unit among others. She thanked the Lebanese Women Association for funding treatment for some needy children who are presented with cancer.In a statement from the World Health orgnisation representative, cancer is the second commonest cause of death after accident and they can be cured provided prompt and essential treatment is accessible. "One in two children will die when diagnosed cancer".The representative called for better hospital service and health workers to enable cancer reduction and if possible eliminate it from the African sub-region.GHAPACC is a member of the International Confideration of Childhood Cancer organisations (ICCCPO)which is affiliated to International Society of Paediatric Oncology (ISOP).
BY:Michael Amedor


In his bid to ensure equitable development of the state, President John Evans Atta Mills in his State of the Nation Address last week promised to establish a Savannah Accelerated Development Authority (SADA) and revive the Central Regional Development Committee (CEDECOM)Interestingly, 15 long months before President Mills’ announcement, the economic policy think-tank, Centre for Policy Analysis (CEPA) had been muting the idea of such an approach to deal with the poverty situation in the country.The policy think-tank also proposed a policy for the alleviation of poverty in the Central Region which they believed is equally poverty-stricken as the savannah belt of Ghana.Executive Director of CEPA, Dr. Joe Abbey who spoke to this reporter in November 2007 just after the late Minister for Finance, Kwadwo Baah Wiredu had delivered government’s fiscal policy statement for 2008, warned that the proposal for the establishment of a Northern Development Fund was half-baked since the poverty situation in the country was not just a problem of the three northern regions but that of the whole savannah belt as well as the Central Region.He explained the situation using the vegetational map of Ghana, which divides the country into the different vegetation zones, saying that the savannah belt covers the three northern regions and the northern parts of both Volta and Brong Ahafo regions.“Data collected throughout the country shows that poverty is endemic in all these places covered by the savannah”, Dr. Abbey noted, calling for any policy intention to deal with poverty on regional basis to get to understand the situation before embarking on that venture.The seasoned economist then also called for the inclusion of the Central Region in any such policy since, “poverty in that region is as endemic as it is in the savannah belt of Ghana”.Last Thursday, in his State of the Nation Address to Parliament, President John Evans Atta Mills announced the decision of his government to fulfill the campaign promise of his party to establish a Savannah Accelerated Development Authority to deal with poverty in a more holistic manner.He also promised the reviving of the Central Regional Development Commission (CEDECOM) to tackle poverty in that region.“My administration will this year establish the Savannah Accelerated Development Authority (SADA) as a more holistic development agency to harness the development of the three northern regions and districts in the Brong Ahafo and Volta Regions contiguous to Northern Regions”, President Mills promised.He promised to use the proceeds appropriated under the Northern Development Fund and with the support of development partners to begin urgent development interventions in the three northern regions to bring the needed relief for farmers and residents whose livelihoods were destroyed by two successive floods.“We will also begin the process of enabling the private sector and civil society in these regions to accelerate development that enhances incomes and provide employment for the youth”, President Mills assured, explaining this would in the long term help bridge the poverty divide between the north and the south and revitalize the central region.On the private sector, the president promised to form a long term partnership with them to secure the future and well-being of Ghanaians.“Given the importance of the role of the private sector in the development of Ghana, their development agenda will be driven and monitored at the heart of Government business at the presidency. This is a promise I made to the private sector and the government will translate it into action”, the president stated.President Mills also noted that in spite of the budget deficit of 15% of GDP, balance of payment deficit of 18% inflation rate of over 18 %and the overall national debt burden of US$7.6 billion, Ghanaians must not panic since it is still possible to turn the situation around.As a first step to managing government expenditure, the president Mills promised a drastic cut in the State Protocol budget, drastic reduction in official foreign travel budget, a drastic reduction in budgets for official seminars, the monitoring of targets and dividends of state-owned companies and enterprises as well as reviewing the exemptions regime.
Source:Financial Intelligence (Justice Lee Adoboe)

Sunday, February 22, 2009


The Head of Corporate Communications and Customer Care of Ghana Telecommunications Limited, Major Albert Don-Chebe, says workers will never be laid off in spite of the transformation taking place in the organisation. According to him, the company will change its name to Vodafone Ghana Limited by the middle of the year. Major Don-Chebe made the point when interacting with a cross-section of media practitioners in the Eastern Region in Koforidua. He announced the company’s plans to carry out training programmes for the staff to enable them to cope with changing trends in society.Major Don Chebe described Vodafone as the leading mobile communication company globally with about 290 million customers. He said it is also the fastest changing business in the world and therefore the need to strategise to compete on the global market.Major Don-Chebe noted that even though the company will not lay off staff, applications for voluntary retrenchment are welcome and assured them of an excellent package. He said Ghana telecom intends to rebrand the company in order to cover all parts of the country to enhance effective communication.Major Don-Chebe disclosed that the government of Ghana owns about 30% shares of the Vodafone company which is currently operating in over 26 countries with about 40 partners.The Eastern Regional Manager of Ghana Telecom, Nii Amaa Fleischer-Brock, said the company has plans to introduce more call sites to ease congestion in areas including New Abirem and Achiase in the Eastern Region.


This year's international day of broadcasting has been launched in Accra.At the launch,the coordinator of Curious Minds Mr.Kingsley Obeng-Kereh thanked all who contributed to the success of their activities for last year and called for better broadcasting with the children this year with introduction of new broadcasting programs. "It is not easy to work with kids but all the same we have cross the road of failure to success,we thank God".He called on co-orporate and individuals to help sponsor some of their activities. The country representative of UNICEF Ghana Yasmin Ali Haque urged broadcasters to advance overall child development producing program content that detail the plight of the child,dramas that help break down gender stereotypes and reducing discrimination. "UNICEF also encourages broadcasters to open their airwaves to children and the youth not just on these commemorative days but throughout the year as ICBD becomes an overarching initiative to involve more young people in media due to its reach and impact".She extended her outfits total congratulatory massage to the Children and Youth in Broadcasting(Curious Minds) for being winners of the international day of Broadcasting awards. " We are proud of all the hard work you put in to win the award and encourage you to continue developing content for and by the children that promotes thr interest of children!". This year's international childrens day of broadcasting is dubbed "Unite for Children:Tune in to kids!". The celebration was created so that young people could also have on our airwaves educational content that they can understand and contribute.


The University of Ghana Disaster management club has organised a day seminer on disaster mangement on campus Accra. The seminar was under the theme "Managing disaser and preventing of disaster on campus the role of the student".Speaking at the seminar the president of the club Mr. Evans Adjei said it was important for student to know that,the fact that disaster prevention and management lies in the hands of every human being however should be of concern to all because it affect anyone at anytime. "It is with this reason that the club finds it very important in educating student on disaster to create positive awearness and to train students on how to prevent and mitigate disaster on campus in particulaur and thie own communities in general ". Mr. Adjei called on school authorities to provide all blocks of the halls and bush canteen with fire extinguishers as presently there was non to help prevent fight fire any time there is one.Students participated in discussions such as the safety and prevention of fires lead by Mr.Evans OSei Owusu of the safety department and the Ghana Fire Service and was also led by A .S. P James Akwei of the Ghana Police headquaters in the role of the police during disaster.Mrs. Diana Boateng,Director in-charge of disaster at the National Disaster Management Organisation thanked all resource persons for the excellent lecture and called on the student to plant more trees on campus which in general also serves a disaster preventive tool.


The training for officers of the Ghana Custom Exercise and Preventive Service of Ghana has ended in Accra. At the closing cermony, the commissioner of CEPS Mr.Emmanuel N. Doku said the training will help improve services within the marine sector and also help check the growing drug trafficking and other forms of illegal activities along the coast of the sub-region. " This training should be seen as the beginning not the end". He Advice all trainees to make good use of the skill acquired at various point of duties which at the end will give profitable meaning to the training .His Excellency Donald Teitelbaum of the U.S embassy in Ghana also congratulated the trainees for a good job and was confident of eradicating all forms of illegal businesses both at the border,ports and marine sector within the west Africa sub region. He reitreated that, the U.S embassy would support and help fight all forms of illegal trade business within the sub-region. Participants were awarded certificates.


The National Youth Forum on Enivronment Ghana (NYFEG) has held a youth platform in Accra.The Theme of the forum was : "The role of the Ghana youth in environmental management".The Wildlife club of Ghana which is the junior wing of the Ghana Wildlife Society was the brain behind the seashore birds project according to outfits release.The forum which is held yearly by the Wildlife Ghana witness youth from both junior High and senior high schools as usual.The objective of theprogramme is to sentisize the youth on issues concerning the environment.Some relevant issues which formed headline topic for discussion are " plastic menace in the Songhor lagoon and how it affects marine life,Plastic menace in urban centres of the country and human enciaves within wildlife protested areas". The dialogue also seek to assist in sensitizing the general public and help government when taking decision especially on issues affecting the youth and their environment.


A novel titled "a chance of a life time" written by Kosi Kedem has been launched in Accra.The book which was launched by the vice president of the republic of Ghana John Dramani Mahama contains an autobiography,history,religion among others of Ghana.The theme of the launch was "Preserving the national memory :creating an enabling environment and support for political leaders to write their memoirs" is a worthy reminder to the broader theme of building a national culture of reading and writing.

Friday, February 20, 2009


The Chief Justice of Ghana Her Ladyship Georgina Theodora Wood has disclosed that counterfeiting and piracy contribute negatively towards national development. "It is important for everyone to have a stake in the protection of intellectual property rights" . She disclosed this in a regional workshop on the theme “IP Protection: The Border and beyond”. Justice Wood said counterfeiting which includes national currencies cause total debt to its respective county. “All of us assembled here have rare and unique opportunity to lead in protecting these rights and so contributing to the development of a strong IP regime for the sub region”. She reiterated that, the workshop which is in collaboration with the United States government and ECOWAS will seek to further develop the quality of intellectual property protection in the west African sub-region by facilitating co-operation between enforcement agencies in the region, improve the skills and knowledge of IP enforcement officials to interdict, investigate and adjudicate counterfeit and pirated goods and also initiate our commitment to produce a regional policy for a more effective implementation and enforcement of IP rights in west Africa His Excellency Donald Teitelbaum of the U.S embassy in Ghana and DR. Mohammed Ibn Chambas of ECOWAS were all present at the gathering .The Funding of the workshop which will end today was provided by the USAID.

Thursday, February 19, 2009


President John Evans Atta Mills, has stated, during his first sectional address on the state of the nation to Parliament , that for a country to grow effectively, it isl vital to add to what is working and change that cause when it is in the national interest to do so. He said it is time to depart from the present day practice of undoing the valuable contribution of past governments.“A house that is constantly rebuilding its foundations will be stuck at the foundation level, never nearing completion, but Ghana deserves better” President Mills said.

President Mills paid shimmering tributes to his predecessors; ex-presidents J.A. Kufuor and J.J. Rawlings, and particularly to Osagyefo Dr. Kwame Nkrumah, in whose honour a national holiday, "Founders’ Day" he proposed for institution to be marked on his birthday.
According to him, the three had played their part in efforts to build a strong nation and deserved gratitude.

"The nation is grateful to them. The nation is grateful for their service. The nation is also grateful to them for moving our democracy along the path to maturity," he stated, praying God's guidance for him to be able to add to their rich legacy.He said the 1992 constitution attained a number of governmental institutions; however he said a close look at these institutions which relatively performed well showed they are under resourced.“We will have a peer review mechanism in order to find out what options will propel them to give of their best in the interest of mother Ghana, to safeguard the constitutional independence of these institutions, namely, The Electoral Commission (EC), The Commission Human Rights and Administrative Justice (CHRAJ), the Media Commission and the National Commission on Civic Education (NCCE).“I will urge the house through an amendment to your standing orders to permit the leadership of these institutions to appear before you in person to defend their budget. By so doing the criticism of executives starving them of funds will be a thing of the past”.The president noted that transparency in government and the fight against corruption was cardinal for sustainable development. He said his administration would address the transparency issue through ensuring the passage of the Freedom of Information Act, expedite the passing of the National Broadcasting Act and elaborating on the Code of Conduct for government officials which would cover extensive information, ethics and anti-corruption measures.Regarding Parliament and Parliamentarian, President Mills said, his government had a plan to establish an MPs Development Fund which would be separated from the District Assembly’s Common Fund and would release the funds for the exclusive use of District Assemblies and thereby remove tension between MPs and DCEs.He stated that government would work closely with the judiciary without compromising or sacrificing the independence of the judiciary and that his government would support any reform, including anti-corruption reforms from them."I make a firm commitment to fight vigorously against the drug menace. In line with this we will amend the Narcotics Drug Control, Enforcement and Sanctions Law of 1993. We will also ensure that all high profile cases involving narcotics which are still outstanding are investigated and prosecuted".“We will also bring to closure, the lingering issue of justice in the case of the death of Ya Na and his followers, Issa Mobila and other outstanding cases”.

BY: Audrey Micah


The Kumasi Metropolitan Assembly (KMA) owes small-scale waste collection contractors about GH¢60,645 being outstanding bills for July to December 2008.Mr Anthony Mensah, Director in-charge of Waste Management Department of KMA, who announced this, said the contractors were engaged to sweep specified roads and side drains, focusing on the arterial roads within the metropolis.He was launching a massive clean-up exercise scheduled for February 21 to 23 in Kumasi.The exercise would be undertaken by KMA in collaboration with management of Zoomlion Ghana Limited.Mr Mensah pointed out that the average monthly service cost of solid waste management, covering both collection and disposal, was about GH¢720,000 that far exceeded the assembly's budget which was dependent on the government.He expressed concern about the irregular release of funds by government that often resulted in accumulated debts to contractors making waste management service delivery unsustainable to enhance a clean environment.Mr Mensah said the assembly had an Engineered Sanitary Landfill Facility located at Oti near Dompoase and the current phase of the developed cells were expected to be operational for the next two years before the second phase would be installed.However, he said development of the second phase expected to be completed by January 2011, could not be realised due to lack of funds and operation of the landfill facility had been contracted to a private contractor at an average monthly cost of GH¢300,000 based on GH¢7.2 per tonne of waste deposited at the site.On strategies to combat challenges hampering effective waste management in the metropolis, Mr Mensah said the assembly intended to evacuate accumulated refuse located at about 40 transfer sites. In addition, the assembly had decided to purchase about 30,000 pieces of 240 litre household bins to support the house-to-house collection component at an estimated cost of GH¢3,000,000.Mr Mensah said the central business district of the metropolis would be decongestion to ensure free flow of both human and vehicular traffic and reduction in waste generation to improve the aesthetic values of the metropolis.



Brothers and sisters in Islam, ladies and gentlemen of the media community, the Coalition of Muslim Organization, Ghana (COMOG), warmly welcomes you to this press conference.
The aim of this press conference is to clear the air and correct any possible erroneous impressions or perceptions created by recent publications in sections of the media, especially the print, and attributed to a group of Muslims called CONCERNED MUSLIM FORUM, who presented a petition to the Iranian Cultural Consulate to register their displeasure at what they described as gross human rights abuses particularly against women in Iran.” We will also take this opportunity to advice our brothers and sisters of the FORUM, and others, on the need to be guided by the tenets of the Holy Quran on the importance and the strength in unity of the Muslim Ummah, even in the face of our sectarian schisms.

Ladies and Gentlemen: To the best of our knowledge at Coalition of Muslim Organisations, Ghana (COMOG), the dress code for women in the Islamic Republic Iran, and all Muslim women for that matter, is not an imposition by the Iranian authority or any other authority, but as enjoined by the Almighty Allah Himself in the Holy Quran 24:31 and 33:59.

In response to the claim in the said petition that women in Iran are “perpetually denied a voice to air their grievances, COMOG conducted investigations and arrived at the following verifiable facts.

1. The Vice President of the Islamic Republic of Iran is a woman; her name is Her Excellency Dr Fatemeh Vacz.
2. In the year 2006, female employees in government ministries, department and agencies in the Islamic Republic of Iran numbered 788,000.
3. The 2006 census revealed the fact that 80% of females aged 6 years and above in the Islamic Republic of Iran was literate.
4. As of 2006, 23.79% of Iranians holding senior management positions in that country were Women.
5. By the 2007 census, 51% of employees in the Iranian Ministry of Education were Women.
6. In 2007 alone, Iranian women published 9,500 books.
7. In the same year 2007, 52% of the university student population in the Islamic Republic of Iran was Women.
8. Early last years (2008), 980 women NGOs were operating in Islamic Republic of Iran.

Ladies and gentlemen, brothers and sisters, these facts speak volumes for themselves. Are these the same women who, according to the Concerned Muslim Forum are “perpetually denied a voice to air their grievances” and subjected to constant arrest and repression?

We have names of prominent and world renowned Iranian women scholars like Dr. Mehri Bagheri, Dr. Tahereh Kaqazchi, Dr. Badrozaman Qarib, Dr. Amir Banoo Karimi, Dr. Prirokh Dadsetan, Dr. Afsaneh Safavi, Dr shoku Navabi Nezhad and Dr Shahrbanu Qriyan, to mention but a few, who have attained academic, professional and technological excellence in linguistics, chemical engineering, literature, psychology, chemistry and medicine. These female intellectual giants, some of whom are professors and professors-emeritus, have studied and lectured in western universities, such as Geneva University, Birmingham University, Pennsylvania University, Bradford University, Sheffield University, etc.

Are these among the Iranian women on whom a dress code is allegedly imposed? How could these women rise to their present world standards of excellence, if they had been subjected to constant human rights violations, arrests and repression, as alleged by the Forum.

The Islamic republic of Iran has consistently maintained its embassy, headed by a substantive Ambassador in Ghana since it was opened in 1983. Before 2008, when Ghana had not reopened its mission in Teheran, the Islamic Republic of Iran had been making considerable contributions towards the economy of Ghana and the well-being of Ghanaians in the following areas, among others:

In addition to the Iran Clinic, which has been serving a sizable number of Ghanaians at highly subsidized fees, a full teaching hospital with modern equipments and facilities is to be built in Accra; work on it is to start this year. About four year ago, the Minister of Health of the Islamic Republic of Iran came to Ghana purposely to present to the Government of Ghana forty-one ambulances to augment the existing fleet for efficient and effective health service delivery to Ghanaians.
Farming projects have been established, especially in the northern parts of Ghana, through Iran’s Agricultural and Rural Development (ARD) operations, needless to say that many Ghanaians including Muslims have benefited tremendously from these projects.
The only Islamic University College in Ghana was established by the Islamic Republic of Iran for the benefit of Ghanaians.
The Islamic Republic of Iran has over the years been the world’s second largest oil producer. With the recent discovery of oil in Ghana, our country has a lot to learn from the Islamic republic of Iran, in terms of experience in the industry, Petrol Chemical Engineering and the judicious exploitation of the precious product. To that end, COMOG has already commenced useful discussions with the Iranian authorities on the establishment of a Scholarship Scheme to sponsor qualified students to pursue courses in Petrol Chemical Engineering.

Among several official Ghanaian delegations to Iran is that of the Ghana Chamber of Commerce and Industry, which visited Iran in 2008. An Iranian Trade delegation is to visit Ghana next month with the aim of establishing and strengthening bilateral trade relations between both countries.

We wish however to state that such actions and utterances can discourage investors from Iran and other Muslim countries intending to invest in Ghana. In addition, it embarrasses the government of Ghana, which maintains very cordial relations with the Islamic Republic of Iran.

Such action by the FORUM has the potential of undermining and even negating all the above-mentioned benefits Ghanaians have been enjoying over the years, as well as those to be derived from our continued cordial relationship with the Islamic Republic of Iran, especially when the allegations made against the country flies in the face of facts and figures on the ground as explained above.

We believe that our brothers and sisters from the FORUM are all Muslims who can also benefit one way or another, from Ghana’s good relationship with the Islamic Republic of Iran.

COMOG therefore calls on the FORUM and others with similar tendencies to put a stop to such actions and publications that are capable of injuring the larger interests of the Ghanaian, especially the Muslim Community. COMOG also calls on all Muslim sects in the country to be guided by the Holy Qur-aan, Chapter 21:32, and put an end to intra-Islamic and inter sectarian public controversies in the print and electronic media.

Finally, Ladies and Gentlemen, COMOG, as an umbrella Muslim organization, would like to make it crystal clear that the allegations made by the FORUM do not in any way represent the views of the COMOG, and indeed, the larger Ghanaian Muslim Community about the Islamic Republic of Iran.

COMOG therefore deeply regrets any embarrassment caused by the said action and publications by the FORUM, and we sincerely hope that this unfortunate incident will not be allowed to mar the very cordial diplomatic, cultural and economic relationship painstakingly nurtured over the years between the Republic of Ghana and the Islamic Republic of Iran.

COMOG will continue to remain all inclusive and all Muslims, be they Tijjaniyyah, Ahlussunna, Shia, or any others, in the spirit of Islam.



The Komfo Anokye Teaching Hospital (KATH) in Kumasi on collaboration with the Cardio Start International Compassionate Medical Assistance, a heart surgery team from the US has performed a maiden heart surgery on six adults.Afia Adowaah, 31, Juliana Amponsah, 41, Regina Boakye, Rebecca Asirifi, both 57, Georgina Pam, 63, and Afia Serwaa, 76, benefited from the free heart surgery, which costs 6,000 Euros at the Korle-Bu Teaching Hospital.The team also performed two heart surgeries on Kofi Sarpong, 13, and Christiana Kyeremeh, 19.Dr. Aubyn Marath, head of the U.S. team, told journalists in Kumasi that the initiative was prompted by an appeal made by KATH and that the group's duty was to help save lives of people in the developing countries through heart surgery.Dr. Anthony Nsiah-Asare, Chief Executive of KATH, said the exercise was a preparation towards the establishment of a Cardio Centre at the hospital and to test the multi-purposed emergency centre commissioned last year. He appealed for the establishment of a fund to cater for patients who would not be able to pay their hospital bills and buy drugs after the free surgery.Dr. Nsiah-Asare said thanked the team for supporting KATH to perform the surgery.

Wednesday, February 18, 2009


Cocoa fell for the fifth time in six sessions in New York on signs of increasing output in Ivory Coast and Ghana, the two biggest growers.About 32,131 metric tons of beans arrived in the Ivory Coast ports of Abidjan and San Pedro in the week ended Feb. 8, compared with an estimated 22,000 tons a year earlier, according to officials with access to the data. Cocoa buyers in Ghana said a later-than-usual peak in the main harvest could boost supplies.The main crop in Ivory Coast and Ghana “is not as poor as they thought,” said Bill Frejlich, a broker at the Fox Investments unit of MF Global in Chicago.Cocoa futures for May delivery fell $33, or 1.2 percent, to $2,639 a ton on ICE Futures U.S. in New York. The most-active contract dropped 5.7 percent last week.Ivory Coast’s main crop, picked from October through March, is the larger of two harvests each year.Prospects are improving for the West African country’s mid- crop, the smaller of the two harvests, which is picked from April through September. The mid-crop could reach 350,000 tons to 400,000 tons, compared with 320,000 tons last year, said Ali Lakiss, director of Saf-Cacao, Ivory Coast’s largest domestic exporter.The strengthening dollar and slumping stock markets also spurred cocoa sales, Frejlich said.The dollar rose to the highest against the pound, used to trade cocoa in London, since Feb. 2 while the Dow Jones Industrial Average and Standard & Poor’s 500 Index of U.S. equities fell to the lowest since Nov. 21.The most-active cocoa futures may reach and find support between $2,400 and $2,350 by early next week, Frejlich said.
Source:By Shruti Date Singh/Bloomberg


ECOWAS Commission President, Dr Mohamed Ibn Chambas, has described last year's food crisis that created shortages and catapulted the prices of foodstuffs as a wake up call for regional agricultural revival. This will enable the bloc to feed its teeming population, generate employment and the raw materials to support industries.In a presentation at the opening of the second ECOWAS business forum in Ouagadougou last week, Dr Chambas said the crisis showed the non-sustainability of the policy of ignoring the development of local agriculture in favour of imports and provided a "unique opportunity to re-launch West African agriculture as a business for sustainability". Focusing on the theme, "Harnessing Agricultural Potentials through Regional Partnerships", Dr Chambas said the forum had reinforced an urgency that was consistent with one of the six priority programmes of the Commission for 2009 to pursue the implementation of the ECOWAS Agricultural Policy (ECOWAP). The other five priorities include the development of regional infrastructure, removal of barriers to free movement, pursuit of other partnerships with emerging markets, negotiation of the Economic Partnership Agreement (EPA) with the European Union and increased engagement of the private sector in the integration process.Dr Chambas, who spoke on the role of the private sector in the implementation of integration process, said there was a shared responsibility, including the private sector, who would become its greatest beneficiaries, to ensure the removal of the constraints to free movement. While acknowledging that a functioning customs union was a requirement within the framework of the negotiation of the EPA, he said it was still necessary for the realisation of the region's integration agenda.Dr Chambas appealed to the private sector to scale up its investment in all sectors, adopt concrete modalities for boosting investment in rice production, campaign vigorously against barriers to free movement as well as participate and sponsor more ECOWAS programmes in the future. About 400 people, mostly from the private sector, participated in the three-day forum, a platform by ECOWAS to build synergy among the private sector and involve them more intensively in the integration process.

Tuesday, February 17, 2009


His Excellency, President John Evans Atta Mills, has apologized to the NPP flagbeaer Nana Akuffo Addo, for the inconveniency his administration caused him by seizing his car over the weekend.Speaking on Peace FM news at 12 noon toay, the Presidential Spokesperson, Hon Mahama Ayariga said, the NDC administration has regretted their actions for mistakenly seizing Nana Addo’s car and would like to apologise to the New Patriotic Party Members and the flagbearer, Nana Addo.He said, this happened because the NDC Administration found out that some ex-members of Parliament and Public Service Personnel are still using government vehicles, so they took that initiative in order to retrieve those cars.He said, the administration has some people in the National Security who are helping to retrieve the government vehicles, but this time, they made a mistake by seizing Nana Addo’s car. He also thanked Nana Addo for understanding the situation and sending a delegation to come for his car.




The textile industry in Ghana was once a very booming industry, which once employed about 25000 workers. Most of these companies produced high quality materials, designs and very good textile brands, which sold, so well on the local market as well as other markets in the West African sub- region. Wax prints produced by these companies were in high demand on the Ghanaian market because they are use in making traditional apparels like the Kaba and other exquisite wears. The Industry was not only a source of employment to many Ghanaians but also contributed significantly to the country’s Gross Domestic Product, (GDP).

In recent times the industry has gone through some difficult times resulting in shutting down of production lines of most of the companies in the industry. A lot of workers had been made redundant as a result of these shut downs. Ghana Textile Print, (GTP) which once produced a very good textile brand the GTP brand is reported to have shut down its spinning and weaving departments and laid off many of its workers. This was a company, which was known to have competed with multinational textile companies in the past. The story is not different for Ghana Textile Manufacturing Company limited (GTMC). GMTC shut down its production line way back in December 2005.

Juapong Textile also went into administration and its production lines shut down completely. It opened its production line briefly under the name Volta Star Textiles but could not cope with the competition. Some of the companies which are still operating are believed to be importing gray baft and semi-finished/ bleached cloth for printing in Ghana. One such company is Printex which is believed to be producing below capacity. The only surviving local textile company in the industry is Akosombo Textile Limited, (ATL) but the story doesn’t look good for that either. (The Financial Times Limited 2007)

Bail Out Plans for the Industry

Considering the fact that the textile industries in Ghana once contributed significantly to the Gross Domestic Product, (GDP) and was a source of employment for many Ghanaians, this statistics were quite worrying. There was therefore an appeal from the stake holders in the industry to the government to bail out the companies in order to save the industry from total collapse. The government responded to their distress call and came out with some bail out packages, which could possibly transform the industry to its former glory.

One significant bail out package put in place by the government was to acquire one of the distress company GMTC at a cost of $ 1.5 million. This company which was almost in ruins was to be refurbished and fitted with hi-tech factory, and rented out to ten new indigenous medium garments and textiles companies. It is expected these new producers will produce textiles for both the local industry and for exports to America under AGOA (Ghanaian Chronicle 2006-01-24).
Also the government gave its backing to ABC Textiles; a UK based Textile Company in building a 10-million-dollar new production facility at the Akosombo Textile Limited (ATL) factory. This facility will be used to produce wax prints for the local market as well as other markets. ABC Textiles owners of the plant have plans of expanding its market in the West African sub-region. In 2003, the government reduced duties on imported textile inputs from 10 per cent to five per cent with plans to abolish totally in the 2006. (GNA

Protection of the Textile Industry

The government has also put in place plans to curb the influx of textile products from other African countries. In order to achieve this, plans are underway to turn Takoradi Port into a single import corridor for all African Textile Prints (ATP) coming into Ghana. According to government reports when this plan is put in place all commercial imports of African prints through unauthorised routes, particularly the land borders, would be confiscated.

Furthermore CEPS and Ghana Standards Board (GSB) shall subject commercial African prints imported through the Takoradi Port to 100% physical examination. Finally the government has established a New Economic Intelligence Task Force to check and deal with all cases of trade malpractices in Ghana, including but not limited to the textile sector. (The Chronicle (Ghana), 05.19.2005)

Support for the cotton industry

One area of the industry which the government decided to focus its attention on is the cotton industry because this forms the bedrock of the textile industry in Ghana. In fact the cotton farmers feed the textile industry with raw material. For them to remain in business they need a constant supply of raw material and at a competitive price too. The government gave out a bailout package of an amount of GH¢2.6m to the Ghana Cotton Company Limited (GCCL) to purchase cotton from local farmers in the three Northern Regions of Ghana and also to support the farmers for the 2009/2010 crop season. As part of the support twenty (20) brand new tractors were given to the farmers.
The government also promised 20 billion cedis in the form of agro inputs to around 10,000 cotton farmers in the three northern regions. It has also promise to provide funds for procurement of certified cottonseeds and ploughing of lands. A total of 10,000 hectares is likely to be cultivated within the year. An amount of 4.6 billion cedis has already been released to the GCCL for ploughing and procurement of 300 tons of certified cottonseeds, which had been imported from Burkina Faso for distribution to the farmers. A further sum of 16 billion cedis has been earmarked to support farmers in the three cotton companies mentioned above. A process has been scheduled for completion by July 20, 2006 for the inputs to be provided to the farmers through the companies. (

Causes of the collapse of the Textile Industry

Trade liberalisation

It has been argued by the industry watchers that the near collapse of the textile industry in Ghana could be attributed to the trade liberalisation policy. They are of the view the liberalisation led to the influx of textile products from China and other countries. These textiles are relatively cheaper compare to those produced in Ghana and therefore made it impossible for the local producers to cope with the competition. Besides some of these products are made with Ghanaian motives, which made them, look like they are produced in Ghana. Consumers cannot therefore differentiate between these products and those made in Ghana. To make matters worse local retailers prefer to sell these brands because they are affordable to local consumers and fly off the shelves quicker.

Well, one could argued that it is very good idea to protect the industry from external factors. This is because the industry form part of the production sector of the economy. It’s not good to have the economy dominated by the service sector i.e. (banking, insurance transport etc). However experts like David Ricardo (a classical economist) are of the view that trade protectionism flies against the theory of comparative advantage, which suggests that opening up world markets, and reducing trade barriers (trade liberalisation) would lead to gains from trade for all concerned.

Besides trade liberalisation is not a bad thing at all but it’s the way it is handled. Trade liberalisation simply put means reducing trade limitations such as tariffs, quotas and non-tariff barriers (e.g. regulations, legislation etc) that make it difficult for foreign competitors to sell goods into another country. It has its good sides as well as the bad ones. What needs to be done is to balance the equation between trade liberalisation and trade protectionism because it’s also not good to introduce trade protectionism policies.

Influx of Textile product

Competition in the textile industry in the distance past was just among the local companies but the equation has now changed. These companies now have to compete with influx of textile products from China and other countries. These products offer value for money and are affordable. To compete with these foreign products will mean the local producer reducing their retail prices. This will mean they will be under pricing their product and this will have adverse effect on their profit margin.

Its been argued that the most of the textile companies use obsolete and out date machines that is why they are finding it very difficult to compete with the foreign textile products. Assuming this is true what it means is their cost of production will increase due to loss of man-hours as result of machine breakdowns and stoppages in production lines. This cost is likely going to be passed onto the consumer. Also the old machines are likely going to be less efficient. This will lead to the companies not meeting their production target for any given period. What this means they will be delays in meeting orders and this could result in customer dissatisfaction.

Imperfect Market

The market in Ghana could be described as an imperfect market during the period under review. This created a very difficult situation for the textile industries to operate. An imperfect market is where information is not quickly disclosed to all participants in it and where the matching of buyers and sellers isn't immediate. Generally speaking, it is any market that does not adhere rigidly to perfect information flow and provide instantly available buyers and sellers. (
It could be argued that the trade liberation policy was not communicated properly to the textile companies. Probably they were not given enough time to prepare for it or they were not consulted. The information on the policy needed to be made available to the retailers as well as the consumers. In fact all the stake holders in the industry need to have access to any information on any policy that could affect the industry and this includes the cotton farmers in the three northern regions of the country. The absence of any thing of this sort will make the market imperfect.


Costing System
In order for these companies to survive in these turbulent times they need to apply very effective costing system to reduce their cost of production. They need to have terms and methods of allocating and apportioning fixed production overheads into various cost centres, using an appropriate method and then reapportioning the fixed overheads from the service centres into the production centres so that the costs can then be absorbed. One Such method they could consider using is the Activity Based Costing

Activity Based Costing

Activity-Based Costing (ABC) is defined as a costing model that identifies activities in an organization and assigns the cost of each activity resource to all products and services according to the actual consumption by each: it assigns more indirect cost (overhead) into direct cost. Activity base costing methods is the fixing of overheads for various categories of cost centres, for example canteen or maintenance costs; need to be shared out to various cost centres. ABC as costing system recognises that activities consume resources and products consume activities (R S Kaplan and W Bruns, 1987).
Application of the Activity Based Costing will mean these company needs to have terms and methods of allocating and apportioning fixed production overheads into various cost centres, using an appropriate method and then reapportioning the fixed overheads from the service centres into the production centres so that the costs can then be absorbed. First and foremost they need to identify their cost centres, profit centres and investment centres. Direct labour and materials are relatively easy to trace directly to products, but it is more difficult to directly allocate indirect costs to products. Where products use common resources differently, some sort of weighting is needed in the cost allocation process. (R S Kaplan and W Bruns, 1987)
The costs from the production centres then need to be absorbed into the standard cost per unit using an appropriate method. For this paper this method will usually (but not always) be on a per unit basis, on a machine hour basis or on a labour hour basis but others are possible.
The use of ABC will allow the managers of the textile companies to better understand and get the true costs associated with business activities at each of its revenue and cost centres. These companies have profit centres like business and marketing department etc. These centres have both revenue as well as cost centres. They are therefore viable centres, which generate most of the revenues. An effective activity based costing system will help increase the revenue generation of these centres.
Activity based costing will also enable the managers to better examine their business activities that are indirectly associated with their service delivery like information systems, customer support, electricity, security, marketing, transport services and maintenance. It will thus make it easier for them to be accurate in assigning costs. They will be in a better position to assign cost for the operations of their cost centres since these centres do not bring any revenue.
It will also help the managers to identify inefficient product, department and activity and therefore allocate more resources on profitable product, department and activity. ABC will also help to control the cost at individual level and on departmental level and to find unnecessary costs.
The only problem is ABC has been found to be a very high-cost accounting technology. Installing an ABC system is technically complex, requiring talented personnel and a considerable amount of time. Though its been argued that ABC has lost ground to alternative metrics, such as Kaplan's Balanced Scorecard and economic value added its still widely in used.

Finally it will be unwise for these companies to use full costing, because in practice full costing ‘tends to use past cost and to restrict its consideration of future cost to outlay cost. It also provides a long - run relevant cost which gives information that relate only to the narrow circumstance of the moment (Mclaney and Atrill 2005)

Just in Time (JIT)

Another way which these companies can cut down cost is to eliminate waste in their production set up. Waste is defined as any ‘activity performed within a manufacturing which does not add value to the product’ (FTC Foulks Lynch 2005). One way by which the companies could reduce waste is to apply Just in Time (JIT) system of production. JIT is described as a system of production, where actual orders serve as a signal for when a product should be manufactured (Henry Ford 1923). The use of JIT by the companies in the textile industry will help them produce only what is required, in the correct quantity and at the correct time. They will make sure their supplies are delivered right to the production line only when they are needed. For example they make sure they receive exactly the right quantity of cotton (their raw material) for one day’s production. Their suppliers need to deliver the cotton to the correct loading bay on the production line within a specific time slot. This will help to reduce their stock levels of raw materials, components, work in progress and finished goods.

Experts are of the view inventory is an incurring costs, and doesn’t have any value. In fact inventory is regarded as one the seven wastes which are; overproduction, waiting time, transportation, processing, motion and product defect. These companies should make the effort of holding lower stock because this will save them some rent, insurance cost and space. For example Juapong Textile is reported to have `heap of gray baft stacked in its ware house with no hope of buyers’ (The Financial Times Ltd). This will definitely cost the company some rent as well as insurance premium payment. Holding of less stock will free their working capital, as this will not be tied in stocks. Working Capital is the capital available for conducting the day to day operation of an organisation. This usually refers to short-term net assets- stock, debtors and cash less short term creditors (FTC Foulks Lynch 2005). When these companies tied their working capital in stocks what will happen is their cash flow (which is regarded as the life blood of any business) will be affected and this could lead to lost in other investment opportunities.

The use of JIT will prevents the build-up of unsold textile products product that can occur with sudden changes in demand in the Ghanaian market. Production is very reliant on suppliers and if stock is not delivered on time, the whole production schedule can be delayed. The correct implementation of JIT can lead to dramatic improvements in returns on their investment (

Exploring other Markets

One other area that is worth considering by these companies in order to remain in business is to explore the market beyond the boundaries of Ghana. Seeking for new markets is very good business strategy. The aim of every business unit is to make profits and maximise shareholder wealth. In certain circumstances however, opportunities elsewhere would have to be exploited so as to achieve this outcome. In achieving their goals various factors impinge either on the success or failure of most business units. These factors mainly have to do with deliberate government action, which adversely affects the fortunes of these companies. In the case of the textile industry in Ghana it’s the trade liberalisation policy introduced by the government. Most of the companies in the Textile Industry in Ghana have been crippled and others have completely wound up due to the governments liberation policy that had adversely affected these companies. One market that is worth exploring is the market in Singapore.

Domestic market In Singapore

Singapore has a large domestic market of 3.6 million people, which just like Ghanaians will like to wear dress made from local textiles. Apart from that the lifting of quotas by the US and other wealthy countries to limit imports from developing nations under the General Agreement on Tariffs and Trade, (GATT) place Singapore in favourable market in the apparel industry. Atmi, a USA based textile industry group, (now defunct) predicted that the end of the quota could accelerate growth of the textile industry in Asia and the collapse of the industry in the USA. The group predicts that 630,000 jobs in textiles, apparel and related industries could be lost by 2006 in Americans. Atmi reports went on to say the end of the quota could lead to the collapse of the US textile and apparel industry with orders moving to Asia. The Ghanaian textile companies can capitalise on the situation and move now.

The country has a large population and therefore has ample labour to spare. This cheap labour will be a good incentive to the Ghanaian companies. The caution here however is that the labour may be unskilled and this may lead to high operational losses to the companies as a result of the learning curve. The companies can anyway weigh these losses against the benefits it will derive from the cheap labour and the overall effect determined on the activities of the company. (MAS report 2002)

Domestic Interest rate in Singapore

One area that makes Singapore attractive is the domestic interest rates. This has been relatively low and stable since 2000, the domestic three-month inter bank rate currently the Singapore the inter bank SIBOR 2.5%. With such a low interest rate the Ghanaian companies can thus borrow from the Singaporean banks and invest it into the expansion programme. However Singaporean commercial banks have the tendency of giving loans to individuals rather than to the business sector. It is known facts that loans granted to professional and private individuals in Singapore grew to double-digit rates in 2000. Nevertheless the intense competition between banks, which came as a result of the liberalisation of the banking sector in Singapore, lending to the manufacturing sector has gone up in the last few months of 2000. In the first quarter of 2001, loans growth rose to 7.1%, compared with 4.7% in 2000, although this was partly on account of DBS Finance’s integration with DBS Bank. Adjusting for its effect, loans to non-bank customers would have grown by a slower rate of 4.7% in the first quarter of 2001. (MAS report 2002)

Financial risk and Economic risk

Singapore under the Monetary Authority of Singapore Act (MAS) has taken several measures to maintain exchange rate stability. The floating exchange policy was introduced. Currency restrictions were also lifted. The prohibition of advance payment on import contracts and opened an inter bank market for foreign exchange was also lifted. However Enterprises under current Singapore currency regulations are obliged to sell a certain percentage of their hard currency to the government. This measure is aimed at maintaining exchange rate stability. The problem, which arises out these situations, is that foreign companies may find it difficult to raise foreign exchange to import essential parts to keep their business running.

The risk here will lie in the value of the funds, which Ghanaian companies will want to repatriate to Ghana. Assuming the companies are going to price their exports in cedis (Ghanaian currency) then they will not be wholly affected by the foreign exchange regulation as well as fluctuations. However, if they decide to charge the Singapore dollar for exports then fluctuations may have a serious effect their profits.


It is time the textile companies in Ghana start considering expanding to other markets in the West African sub region as well as other markets. For instance they could consider expanding to the market in Singapore in order to take advantage of the predictions by Atmi, (the textile industry group). Atmi predicted a boom of the textile industry in Asia from 2004 onwards as a result of the end of GATT quotas. According to the report the end of the quota will result in the collapse of the US textile and apparel industry in the USA and orders for textiles products will then move to Asia. However the danger is that investing in another country has its intricate complexities based on the fact that international trade does not only have to do with finance and profits but has to do with social and culture issues. The companies must weigh the advantages of going into Singaporean market against the threats they may face before taking a decision.

BY:Francis Kwaku Egu -MBA (Finance) UK, LIFA Level III (pending), ACCA Level II
Honorary Member/ Research Associate - Licensed International Financial Analyst (LIFA)