he Geological Survey Department of Ghana has inaugurated a GHC 1.2
million multipurpose drilling rig to help locate ore 2,600 metres
beneath the earth.
The drilling rig would, thus, help the country to derive maximum benefits from its natural resources.
The machine, which is also used for drilling bore-holes, can be used
for foundation investigation to check for water levels and where
bedrocks are located in the earth.
At the inauguration in Accra yesterday, the Minister of Lands and
Natural Resources, Alhaji Inusah Fuseini, said the machine would help
the country to manage its own natural resources.
He indicated that foreigners would no longer come into the country with their machinery to fetch for natural resources.
Alhaji Fuseini urged the Geological Survey Department to use the
machine for its intended purpose and promised to work hand-in-hand with
the department to help maintain it.
The Director of Geological Survey Department, Mr John Agyei Duodu,
promised to put the machine to its rightful use for the benefit of the
country.
He appealed to the minister for funds to be able to maintain the machine to ensure that it lasts.
Saturday, 27 July 2013
Minister calls for promotion of African renaissance -gsmbizmen
The Minister of Foreign Affairs and Regional Integration, Ms Hannah
Serwaa Tetteh, has stressed that the African private sector, in
partnership with the state, has a uniquely important role in fostering
the African Renaissance.
In a speech delivered on her behalf at the 8th Ghana-Africa Business Awards ceremony which took place in Accra, Ms Tetteh observed that several African countries were experiencing a fairly robust economic growth thanks to a resurgent private sector, adding that six of the 10 fastest growing economies in the world, which included Ghana, were in Africa.
The foreign minister was emphatic that Africa could not afford to ignore the potential dynamic effects of greater intra-African trade and collaborative intra-African manufacturing as the vehicle for the achievement of the much proclaimed African Renaissance.
The Dean of the African Diplomatic Corps and Ambassador of Burkina Faso, His Excellency Sini Pierre Sanou, delivered a goodwill message on behalf of other African diplomats.
The awards scheme was organised under the auspices of the Ministry of Foreign Affairs and Regional Integration by Top Brass Ghana, as part of the celebration of Africa Day in Ghana. It seeks to honour Ghana-based enterprises, including those with African origins which promote trade, investment and other economic relations between Ghana and sister African countries as envisaged under the New Partnership for Africa's Development (NEPAD).
In a speech delivered on her behalf at the 8th Ghana-Africa Business Awards ceremony which took place in Accra, Ms Tetteh observed that several African countries were experiencing a fairly robust economic growth thanks to a resurgent private sector, adding that six of the 10 fastest growing economies in the world, which included Ghana, were in Africa.
The foreign minister was emphatic that Africa could not afford to ignore the potential dynamic effects of greater intra-African trade and collaborative intra-African manufacturing as the vehicle for the achievement of the much proclaimed African Renaissance.
The Dean of the African Diplomatic Corps and Ambassador of Burkina Faso, His Excellency Sini Pierre Sanou, delivered a goodwill message on behalf of other African diplomats.
The awards scheme was organised under the auspices of the Ministry of Foreign Affairs and Regional Integration by Top Brass Ghana, as part of the celebration of Africa Day in Ghana. It seeks to honour Ghana-based enterprises, including those with African origins which promote trade, investment and other economic relations between Ghana and sister African countries as envisaged under the New Partnership for Africa's Development (NEPAD).
SIC introduces first e-insurance service
SIC Insurance Company Ltd has introduced an on-line service to
facilitate convenient purchase and renewal of insurance policies by
customers.
The SIC e-insurance service, a first of its kind in the country will allow customers to buy and renew their insurance policy anytime and on any day, without having to visit any SIC office or agent in person.
Mrs. Doris Awo Nkani, the Managing Director of SIC Insurance, who outdoored the service said customers of the company can also use the service to initiate claims.
“All you need is internet accessibility from any location. You can access this service by going onto our corporate website...to create an account,” she said, indicating both motor and travel insurance could be bought using the service.
Customers can also generate an invoice number with which they can use to make payments.
Describing the service as the biggest innovation in the insurance market in Ghana, Mrs. Nkani noted that SIC Company would continue to explore various ways that would bring comfort to customers and entrench its leadership in the insurance industry.
“Here the goal is to be fluid in innovation and not sticking to the old ways. Demographic and technological changes in today’s world demand that we meet the broad needs of our clients in more comfortable ways," said Mrs Nkani.
Board Chairman of SIC Insurance, Mr. Max Cobbina, explained that the world is fast evolving into a cashless society “and so this is our contribution for the country to take its share and embrace such innovations that ensures adequate customer satisfaction.”
The SIC e-insurance service, a first of its kind in the country will allow customers to buy and renew their insurance policy anytime and on any day, without having to visit any SIC office or agent in person.
Mrs. Doris Awo Nkani, the Managing Director of SIC Insurance, who outdoored the service said customers of the company can also use the service to initiate claims.
“All you need is internet accessibility from any location. You can access this service by going onto our corporate website...to create an account,” she said, indicating both motor and travel insurance could be bought using the service.
Customers can also generate an invoice number with which they can use to make payments.
Describing the service as the biggest innovation in the insurance market in Ghana, Mrs. Nkani noted that SIC Company would continue to explore various ways that would bring comfort to customers and entrench its leadership in the insurance industry.
“Here the goal is to be fluid in innovation and not sticking to the old ways. Demographic and technological changes in today’s world demand that we meet the broad needs of our clients in more comfortable ways," said Mrs Nkani.
Board Chairman of SIC Insurance, Mr. Max Cobbina, explained that the world is fast evolving into a cashless society “and so this is our contribution for the country to take its share and embrace such innovations that ensures adequate customer satisfaction.”
Children advised to care for parents -gsmbizmen
The Director of the Light of the World School Complex at New Aplaku
in the Ga South Municipality, Mrs Esther Hamilton, has advised children
not to neglect their aged parents because they (parents) did not care
for them.
“Do not seek vengeance because the Lord says vengeance is His,” Mrs Hamilton advised when she addressed a forum on the care of the aged at the school on Friday.
She said children should not refuse to care for their parents because they (parents) did not care for them during their schooldays.
The educationist, however, noted that some parents, especially fathers, shirked their responsibility towards the education of their children, and added that did not give grounds to children to refuse to care for them, especially when the children were in the position to do that.
She said it was a painful experience for parents to neglect their education, which she said, “holds the future of the children”, but urged children to forgive their parents and support them, especially in their old age.
“Your parents did not care for your education, but God who created you found a way to support your education. That is enough for you to forgive your parents and care for them,” she added.. - GNA
“Do not seek vengeance because the Lord says vengeance is His,” Mrs Hamilton advised when she addressed a forum on the care of the aged at the school on Friday.
She said children should not refuse to care for their parents because they (parents) did not care for them during their schooldays.
The educationist, however, noted that some parents, especially fathers, shirked their responsibility towards the education of their children, and added that did not give grounds to children to refuse to care for them, especially when the children were in the position to do that.
She said it was a painful experience for parents to neglect their education, which she said, “holds the future of the children”, but urged children to forgive their parents and support them, especially in their old age.
“Your parents did not care for your education, but God who created you found a way to support your education. That is enough for you to forgive your parents and care for them,” she added.. - GNA
Conference of Econometric Society opens in Accra -gsmbizmen
The 18th annual conference of the African Econometric Society opened in
Accra yesterday, with a call on economic researchers to link research
work with everyday economic realities on the African continent.
The three-day conference, which is being attended by representatives of member-countries, is on the theme: “The Relevance of Policy Modelling in an Uncertain World with Specific Application to Africa”.
The Vice President, Mr Kwesi Bekoe Amissah-Arthur, who opened the conference, said it was unfortunate that the unpopularity of econometric as a subject had resulted in the lack of proper analysis in the formulation of policies.
He noted that policy was, therefore, unduly based on theory without critical analysis based on economic realities on the ground.
Mr Amissah-Arthur said it was heart-warming, therefore, that topics lined up for discussion during the conference had been based on African economic realities.
He called on policymakers to be well grounded in econometrics to avoid the situation where economic forecasting is not based on empirical data.
In a keynote address read for him, the Governor of the Bank of Ghana, Dr Henry Kofi Wampah, said since its inception in 2002, the inflation targeting (IT) framework had contributed greatly to monetary policy conduct, with positive economic outcomes in the country.
He explained that IT had helped to keep the bank’s focus on price stability and, to a large extent, made the bank to deliver on its price stability mandate, while economic growth rate had accelerated.
Dr Wampah said over the past decade, Ghana had seen a remarkable decline its inflation rate explaining that from 40.5 per cent (year-on-year) in December, 2000, inflation fell to 12.7 per cent in December, 2007, having touched single digits in April, 2006.
Inflation, according to him, crept to 20.7 per cent in June, 2009, following external shocks, but after adjusting the policy rate along with other measures, inflation fell to 9.5 per cent in July, 2010, and remained in single digits before moving into low double digits in February, 2013.
He said monetary policy decisions had also created the right conditions for economic growth, as evidenced by strong growth records, following the adoption of inflating targeting.
Dr Wampah added that the low inflationary environment together with other prudent and complementary macroeconomic policies stimulated high growth rates that averaged 7.1 per cent per year between 2002 and 2012, compared with a 4.5 per cent average growth between 1986 and 2001.
The BoG Governor said that achieving the price stability objective had been facilitated by supportive fiscal policy, adding that sustained achievement of price stability would require a contradictory fiscal policy and strengthen co-ordination between fiscal and monetary policies.
Dr Wampah said the bank had since 2002, implemented a number of structural and regulatory reforms to develop the financial sector.
The money and capital markets, the banking and non-bank financial institution as well as the settlement and payment systems had seen structural reforms, he said.
In addition, the financial sector regulatory framework had been extensively reviewed alongside the enactment of new laws to strengthen the bank’s supervisory powers.
In his remark, the Vice Chancellor of the University of Ghana, Professor Ernest Aryeetey, urged policymakers to use policy to shape the country’s trade and economic development.
He told the delegates that the University of Ghana was in a process of a research-based institution.
Prof Aryeetey said the university would establish centres of excellence in areas such as malaria, climate change adaptation, food production and processing and policy monitoring and evaluation.
The three-day conference, which is being attended by representatives of member-countries, is on the theme: “The Relevance of Policy Modelling in an Uncertain World with Specific Application to Africa”.
The Vice President, Mr Kwesi Bekoe Amissah-Arthur, who opened the conference, said it was unfortunate that the unpopularity of econometric as a subject had resulted in the lack of proper analysis in the formulation of policies.
He noted that policy was, therefore, unduly based on theory without critical analysis based on economic realities on the ground.
Mr Amissah-Arthur said it was heart-warming, therefore, that topics lined up for discussion during the conference had been based on African economic realities.
He called on policymakers to be well grounded in econometrics to avoid the situation where economic forecasting is not based on empirical data.
In a keynote address read for him, the Governor of the Bank of Ghana, Dr Henry Kofi Wampah, said since its inception in 2002, the inflation targeting (IT) framework had contributed greatly to monetary policy conduct, with positive economic outcomes in the country.
He explained that IT had helped to keep the bank’s focus on price stability and, to a large extent, made the bank to deliver on its price stability mandate, while economic growth rate had accelerated.
Dr Wampah said over the past decade, Ghana had seen a remarkable decline its inflation rate explaining that from 40.5 per cent (year-on-year) in December, 2000, inflation fell to 12.7 per cent in December, 2007, having touched single digits in April, 2006.
Inflation, according to him, crept to 20.7 per cent in June, 2009, following external shocks, but after adjusting the policy rate along with other measures, inflation fell to 9.5 per cent in July, 2010, and remained in single digits before moving into low double digits in February, 2013.
He said monetary policy decisions had also created the right conditions for economic growth, as evidenced by strong growth records, following the adoption of inflating targeting.
Dr Wampah added that the low inflationary environment together with other prudent and complementary macroeconomic policies stimulated high growth rates that averaged 7.1 per cent per year between 2002 and 2012, compared with a 4.5 per cent average growth between 1986 and 2001.
The BoG Governor said that achieving the price stability objective had been facilitated by supportive fiscal policy, adding that sustained achievement of price stability would require a contradictory fiscal policy and strengthen co-ordination between fiscal and monetary policies.
Dr Wampah said the bank had since 2002, implemented a number of structural and regulatory reforms to develop the financial sector.
The money and capital markets, the banking and non-bank financial institution as well as the settlement and payment systems had seen structural reforms, he said.
In addition, the financial sector regulatory framework had been extensively reviewed alongside the enactment of new laws to strengthen the bank’s supervisory powers.
In his remark, the Vice Chancellor of the University of Ghana, Professor Ernest Aryeetey, urged policymakers to use policy to shape the country’s trade and economic development.
He told the delegates that the University of Ghana was in a process of a research-based institution.
Prof Aryeetey said the university would establish centres of excellence in areas such as malaria, climate change adaptation, food production and processing and policy monitoring and evaluation.
Fire destroys warehouse at Winneba Market
Fire gutted a warehouse at the Winneba Main Market last Thursday
evening, destroying items worth hundreds of thousands of Ghana cedis.
The 40-foot container was a cold store 10 years ago but has now been converted into a warehouse. The affected traders who had no place to keep their items kept them in part of the warehouse for a fee, while part of it had deep freezers.
According to information received, there was lights out in the entire Winneba town around 12:30 p.m. but when the lights came back around 6:30 p.m., there were intermittent power outages which may have caused the fire around 7:30 p.m.
Items destroyed by the fire included cosmetics, children’s wear, foot wear, cooking oil, food items and plastic plates, among others.
However, officials of the Fire Service responded timely and in about 45 minutes were able to bring the fire under control.
When the Daily Graphic got the market on Friday morning at about 8 a.m, the entire market had been locked, with only officials of the Ghana National Fire Service, Police Service, the National Disaster Management Organisation and some of the affected traders in the market trying to salvage some of the items.
There was stampede at the entrance of the market, as some other traders who had come to sell (it was a market day in Winneba) were not allowed to enter the market apparently to prevent a chaotic situation in the market, as well as prevent some miscreants from taking advantage of the situation to steal the items of the traders.
There was uncontrollable wailing by some of the victims who had lost their wares.
A 35-year-old cosmetics seller, Grace Mensah, said that her items (worth GH¢6,000) had all been destroyed by the fire.
Another trader, Madam Harriet Entsia, who deals in foot wear, saucepans and children’s clothing also lost goods worth GH¢1,700 and was seen crying as she stood by her burnt items.
The Effutu Municipal Fire Commander, DO1 Ebenezer Akrong, said that the timely response by his outfit prevented the fire from spreading to other parts of the market.
He said the Fire Service had a fire safety post at the market which ensured that all lights are turned off by traders before leaving the market, with the exception of the power at the cold store.
DO1 Akrong indicated that investigations would be immediately conducted to ascertain the cause of the fire.
The Effutu Municipal Chief Executive, Nii Ephraim, led a team from the assembly to the market and assured the affected traders that after assessment had been completed, the government through the assembly would provide the necessary support for them.
The 40-foot container was a cold store 10 years ago but has now been converted into a warehouse. The affected traders who had no place to keep their items kept them in part of the warehouse for a fee, while part of it had deep freezers.
According to information received, there was lights out in the entire Winneba town around 12:30 p.m. but when the lights came back around 6:30 p.m., there were intermittent power outages which may have caused the fire around 7:30 p.m.
Items destroyed by the fire included cosmetics, children’s wear, foot wear, cooking oil, food items and plastic plates, among others.
However, officials of the Fire Service responded timely and in about 45 minutes were able to bring the fire under control.
When the Daily Graphic got the market on Friday morning at about 8 a.m, the entire market had been locked, with only officials of the Ghana National Fire Service, Police Service, the National Disaster Management Organisation and some of the affected traders in the market trying to salvage some of the items.
There was stampede at the entrance of the market, as some other traders who had come to sell (it was a market day in Winneba) were not allowed to enter the market apparently to prevent a chaotic situation in the market, as well as prevent some miscreants from taking advantage of the situation to steal the items of the traders.
There was uncontrollable wailing by some of the victims who had lost their wares.
A 35-year-old cosmetics seller, Grace Mensah, said that her items (worth GH¢6,000) had all been destroyed by the fire.
Another trader, Madam Harriet Entsia, who deals in foot wear, saucepans and children’s clothing also lost goods worth GH¢1,700 and was seen crying as she stood by her burnt items.
The Effutu Municipal Fire Commander, DO1 Ebenezer Akrong, said that the timely response by his outfit prevented the fire from spreading to other parts of the market.
He said the Fire Service had a fire safety post at the market which ensured that all lights are turned off by traders before leaving the market, with the exception of the power at the cold store.
DO1 Akrong indicated that investigations would be immediately conducted to ascertain the cause of the fire.
The Effutu Municipal Chief Executive, Nii Ephraim, led a team from the assembly to the market and assured the affected traders that after assessment had been completed, the government through the assembly would provide the necessary support for them.
Haris Broumidis is Vodafone's new CEO
The Board of Vodafone Ghana have appointed Haris Broumidis as the new
Chief Executive Officer. His appointment took effect from July 15, 2013.
Haris Broumidis joined Vodafone in 2002 as the Marketing Director and Enterprise Unit Director in Vodafone Greece and moved on to Vodafone Albania as the CEO in 2007. Under his leadership, Vodafone Albania became the undisputable leader in the telecoms sector.
In 2012, he joined Vodafone Group in its headquarters, London, as the Commercial Director for Europe. Among several other responsibilities he was tasked with the acceleration and implementation of Vodafone’s commercial priorities in European markets.
He brings on board several years of experience and a winning strategy to strengthen Vodafone Ghana’s number 2 position in the market and also make it the undisputed leader for enterprise.
Haris Broumidis is from Greece and studied Economics at the University of Athens. He pursued his MBA at the Cardiff Business School, University of Wales and is an alumnus of INSEAD, Fontainebleau - France.
Prior to joining Vodafone, he held various senior commercial roles including Marketing Director and Business Unit Director of Fresh dairy Products (Delta/Danone Unit) in Gre
Haris Broumidis joined Vodafone in 2002 as the Marketing Director and Enterprise Unit Director in Vodafone Greece and moved on to Vodafone Albania as the CEO in 2007. Under his leadership, Vodafone Albania became the undisputable leader in the telecoms sector.
In 2012, he joined Vodafone Group in its headquarters, London, as the Commercial Director for Europe. Among several other responsibilities he was tasked with the acceleration and implementation of Vodafone’s commercial priorities in European markets.
He brings on board several years of experience and a winning strategy to strengthen Vodafone Ghana’s number 2 position in the market and also make it the undisputed leader for enterprise.
Haris Broumidis is from Greece and studied Economics at the University of Athens. He pursued his MBA at the Cardiff Business School, University of Wales and is an alumnus of INSEAD, Fontainebleau - France.
Prior to joining Vodafone, he held various senior commercial roles including Marketing Director and Business Unit Director of Fresh dairy Products (Delta/Danone Unit) in Gre
Subscribe to:
Comments (Atom)