A mining firm based in Japan, Earth Dragon Resources Incorporated has announced that it is ready to commit an amount of $2 million to conduct operations on mineral concessions in the Nkwanta and Asuogya locations.
The Nkwanta and Asuogya locations which are parts of the Ashanti Gold Belt of Ghana has one of the most prolific gold belts in the world with over 100 million proven ounces uncovered and current investment in excess of $2.5 billion.
Earth Dragon has stated on its website that it has entered a Gold Project Joint Venture Agreement with a local Ghanaian mining firm Netas Mining Company Ltd.
According to the joint venture agreement, Earth Dragon Resources shall commit a minimum of $2 million over the next 2 years to earn a 20% ownership plus first right of refusal on all future claims to the prospect location and also develop, maintain, and manage the mining site, facilities, equipment and all mining operations including exploration plus development of a pilot production facility.
Netas Company on the other hand will manage compliance with applicable mining, environmental, business and tax rules, regulations and laws.
By Ekow Quandzie
ghanabusinessnews.com
Friday, January 21, 2011
Vodafone Ghana, VIP Communications launch Direct Line call service
US international call services provider, VIP Communications says it has launched what it calls Direct Line Ghana in partnership with Vodafone Ghana.
According to the company, which is a provider of international calling services and solutions, the service enables VIP Communications’ customers in the US to make calls to Ghana at 35% less than existing calling services.
It says the service is exclusive to VIP customers and provides Ghanaians in the US their own Ghana telephone number “which connects directly to their US mobile or landline phone at an industry low rate of 12.9 cents per minute,” adding that “in Ghana, calling the Direct Line number is free from any Vodafone mobile or landline phone.”
Source: ghanabusinessnews.com
According to the company, which is a provider of international calling services and solutions, the service enables VIP Communications’ customers in the US to make calls to Ghana at 35% less than existing calling services.
It says the service is exclusive to VIP customers and provides Ghanaians in the US their own Ghana telephone number “which connects directly to their US mobile or landline phone at an industry low rate of 12.9 cents per minute,” adding that “in Ghana, calling the Direct Line number is free from any Vodafone mobile or landline phone.”
Source: ghanabusinessnews.com
Kosmos says corruption investigation into MODEC may increase costs at Ghana’s Jubilee field
Texas-based closely held oil company, Kosmos Energy says an investigation of MODEC, for alleged corruption could lead to extra cost at the Jubilee oil field.
A report by the Dow Jones news service citing Kosmos Energy’s initial public offering (IPO) prospectus says the probe may hypothetically trigger an interruption of production at Ghana’s largest oil field. Commercial oil production from the field started December 15, 2010. It however, adds that interruption of production is unlikely.
Companies listing on markets have to disclose worst case scenarios in their risk factors analysis, even if they are unlikely, the report said. And so KOSMOS cited the investigation of MODEC, the report said.
MODEC is a Japanese contractor for the floating production and storage offloading (FPSO), facility used for oil production at the field.
According to the report, in the document filed to the U.S. Securities and Exchange Commission January 13, Kosmos said partners in the field as well as the International Finance Corp. (IFC), part of the World Bank, “are working with MODEC and its legal advisors to investigate” some “potential violations by [the contractor] under the U.S. Foreign Corrupt Practices Act.”
“As a result of these concerns, MODEC’s long-term funding from a syndicate of international banks for the repayment of funds originally loaned by [Kosmos, along with partners] Tullow Oil PLC (TLW.LN) and Anadarko Petroleum Corp. (APC) for the financing of the construction of such FPSO has been suspended pending this investigation,” it quoted Kosmos as saying.
Kosmos said financing for the FPSO vessel–worth $875 million–used by MODEC had been suspended pending the investigation and said partners in the Jubilee field may be required to contribute further funds as a result.
“If we were unable to do so and lost access to the MODEC FPSO, we would be unable to produce hydrocarbons from the Jubilee Field unless and until we arranged access to an alternative FPSO,” the company said.
As a result of this investigation, a $225 million political insurance risk from the Multilateral Investment Guaranty Agency (MIGA) of the World Bank has been suspended, MIGA has said on its website in July 2010.
Meanwhile, the World Bank Ghana Country Director, Ishac Diwan told ghanabusinessnews.com in December 2010, that the investigations that led to the suspension of $225 million political risk insurance for Ghana’s FPSO vessel will be completed in January 2011 and everything will normalize.
By Emmanuel K. Dogbevi
ghanabusinessnews.com
A report by the Dow Jones news service citing Kosmos Energy’s initial public offering (IPO) prospectus says the probe may hypothetically trigger an interruption of production at Ghana’s largest oil field. Commercial oil production from the field started December 15, 2010. It however, adds that interruption of production is unlikely.
Companies listing on markets have to disclose worst case scenarios in their risk factors analysis, even if they are unlikely, the report said. And so KOSMOS cited the investigation of MODEC, the report said.
MODEC is a Japanese contractor for the floating production and storage offloading (FPSO), facility used for oil production at the field.
According to the report, in the document filed to the U.S. Securities and Exchange Commission January 13, Kosmos said partners in the field as well as the International Finance Corp. (IFC), part of the World Bank, “are working with MODEC and its legal advisors to investigate” some “potential violations by [the contractor] under the U.S. Foreign Corrupt Practices Act.”
“As a result of these concerns, MODEC’s long-term funding from a syndicate of international banks for the repayment of funds originally loaned by [Kosmos, along with partners] Tullow Oil PLC (TLW.LN) and Anadarko Petroleum Corp. (APC) for the financing of the construction of such FPSO has been suspended pending this investigation,” it quoted Kosmos as saying.
Kosmos said financing for the FPSO vessel–worth $875 million–used by MODEC had been suspended pending the investigation and said partners in the Jubilee field may be required to contribute further funds as a result.
“If we were unable to do so and lost access to the MODEC FPSO, we would be unable to produce hydrocarbons from the Jubilee Field unless and until we arranged access to an alternative FPSO,” the company said.
As a result of this investigation, a $225 million political insurance risk from the Multilateral Investment Guaranty Agency (MIGA) of the World Bank has been suspended, MIGA has said on its website in July 2010.
Meanwhile, the World Bank Ghana Country Director, Ishac Diwan told ghanabusinessnews.com in December 2010, that the investigations that led to the suspension of $225 million political risk insurance for Ghana’s FPSO vessel will be completed in January 2011 and everything will normalize.
By Emmanuel K. Dogbevi
ghanabusinessnews.com
Thursday, January 20, 2011
Ex-GNPC Boss Tsatsu Tsikata’s nine-year-old court case resurrected
The Supreme Court Wednesday January 19, 2011 resurrected the nine-year-old legal tussle between the former Chief Executive of the Ghana National Petroleum Corporation (GNPC), Mr Tsatsu Tsikata, and the state when it ruled that the International Finance Corporation (IFC) is not immune from Ghana’s judicial processes.
The immunity or otherwise of the IFC was in contention following Mr Tsikata’s request that the corporation be invited to testify in the case in which he had been charged with three counts of wilfully causing financial loss of GH¢230,000 to the state through a loan he, on behalf of the GNPC, guaranteed for Valley Farms, a private cocoa producing company, and another count of misapplying GH¢2,000 in public property.
On June 18, 2008, Mr Tsikata was found guilty and sentenced to five years’ imprisonment on each count to run concurrently but he was pardoned in December 2008 by former President J. A. Kufuor.
Mr Tsikata, however, rejected the pardon, but prison officials refused his request to stay in prison to fight his cause to the end.
At the Supreme Court’s sitting in Accra yesterday, in a unanimous decision it held that The Article of the Legislative Notification 9, The International Bank, Fund and Finance Corporation (Immunities and Exchange Contracts) Order 1958 states, “Actions may be brought against the corporation only in a court of competent jurisdiction in the territories of a member in which the corporation has an office, has appointed an agent for the purpose of accepting service or notice of process, or has issued or guaranteed securities.”
The court was presided over by Mr Justice William Atuguba, with Ms Justice Sophia Akuffo, Mr Justice Julius Ansah, Mrs Justice Sophia Adinyira and Mrs Justice Vida Akoto-Bamfo as members.
However, in a 3-2 majority decision, the court held that under the same Legislative Notification, “No action shall, however, be brought by members or persons acting for or deriving claims from members. The property and assets of the corporation shall, wheresoever located and by whomsoever held, be immune from all seizure, attachment or execution before the delivery of final judgement against the corporation.”
For that reason, the court held that the Country Director and the employees of the IFC could not be called to testify at the lower court where Mr Tsikata had been charged with causing financial loss to the state.
According to the court, Mr Tsikata’s individual interest could not override that of the public interest and for that reason the Court of Appeal had not been wrong in upholding the decision of the FTC to withdraw its (FTC’s) earlier decision inviting the IFC Country Director to testify in Mr Tsikata’s trial.
Ms Justice Akuffo, Mr Justice Ansah and Mrs Justice Adinyira held a majority view on the issue of IFC employees’ immunity from the country’s judicial processes.
Reading the judgement of the three on that matter, Mrs Justice Adinyira considered the view of Justice Atuguba that the right to fair trial under the Constitution overrode the immunity of IFC directors and officers as “too sweeping”.
According to her, the constitutional rights of the individual must be balanced against the rights of others and the public interest.
She referred to the Vienna Convention as creating international obligations on the country and, therefore, on individual rights and further indicated that it was only on that single issue that she held a different position from that expressed in the judgement of Justice Atuguba.
The position of Justice Atuguba on that second issue of the immunity of the directors and officers of the IFC was supported by Mrs Justice Akoto-Bamfo.
The two were of the view that the Constitution guaranteed the rights and interests of individuals and for that reason, the interest of Mr Tsikata overweighed that of the IFC.
The court should have given its judgement on June 25,2008 but had to adjourn the case sine die following a request to that effect from Mr Tsikata, who had then been sentenced to a five-year jail term.
Valley Farms contracted the loan from Caisse Francaise de Developement in 1991 but defaulted in the payment and the GNPC, which had acted as the guarantor, was compelled to pay it in 1996.
During Mr Tsikata’s defence, he had stated that the IFC had financed a feasibility study which had been conducted on the Valley Farms project and that study had indicated that the project was viable.
He then prayed the Fast Track High Court to issue a subpoena to the IFC Country Director to appear before the court and make available the feasibility study report on the project.
The court, presided over by Mrs Justice Henrietta Abban, granted the request and issued the subpoena, but lawyers for the IFC appeared before the court and argued that the IFC and its employees were immune from judicial processes unless they decided to waive that immunity.
Following the IFC’s submissions, the Fast Track High Court withdrew its earlier subpoena, prompting Mr Tsikata to appeal against the decision, but the Court of Appeal upheld the decision of the lower court.
He then went to the Supreme Court, praying the highest court of the land to decide on the matter.
Source: Daily Graphic
The immunity or otherwise of the IFC was in contention following Mr Tsikata’s request that the corporation be invited to testify in the case in which he had been charged with three counts of wilfully causing financial loss of GH¢230,000 to the state through a loan he, on behalf of the GNPC, guaranteed for Valley Farms, a private cocoa producing company, and another count of misapplying GH¢2,000 in public property.
On June 18, 2008, Mr Tsikata was found guilty and sentenced to five years’ imprisonment on each count to run concurrently but he was pardoned in December 2008 by former President J. A. Kufuor.
Mr Tsikata, however, rejected the pardon, but prison officials refused his request to stay in prison to fight his cause to the end.
At the Supreme Court’s sitting in Accra yesterday, in a unanimous decision it held that The Article of the Legislative Notification 9, The International Bank, Fund and Finance Corporation (Immunities and Exchange Contracts) Order 1958 states, “Actions may be brought against the corporation only in a court of competent jurisdiction in the territories of a member in which the corporation has an office, has appointed an agent for the purpose of accepting service or notice of process, or has issued or guaranteed securities.”
The court was presided over by Mr Justice William Atuguba, with Ms Justice Sophia Akuffo, Mr Justice Julius Ansah, Mrs Justice Sophia Adinyira and Mrs Justice Vida Akoto-Bamfo as members.
However, in a 3-2 majority decision, the court held that under the same Legislative Notification, “No action shall, however, be brought by members or persons acting for or deriving claims from members. The property and assets of the corporation shall, wheresoever located and by whomsoever held, be immune from all seizure, attachment or execution before the delivery of final judgement against the corporation.”
For that reason, the court held that the Country Director and the employees of the IFC could not be called to testify at the lower court where Mr Tsikata had been charged with causing financial loss to the state.
According to the court, Mr Tsikata’s individual interest could not override that of the public interest and for that reason the Court of Appeal had not been wrong in upholding the decision of the FTC to withdraw its (FTC’s) earlier decision inviting the IFC Country Director to testify in Mr Tsikata’s trial.
Ms Justice Akuffo, Mr Justice Ansah and Mrs Justice Adinyira held a majority view on the issue of IFC employees’ immunity from the country’s judicial processes.
Reading the judgement of the three on that matter, Mrs Justice Adinyira considered the view of Justice Atuguba that the right to fair trial under the Constitution overrode the immunity of IFC directors and officers as “too sweeping”.
According to her, the constitutional rights of the individual must be balanced against the rights of others and the public interest.
She referred to the Vienna Convention as creating international obligations on the country and, therefore, on individual rights and further indicated that it was only on that single issue that she held a different position from that expressed in the judgement of Justice Atuguba.
The position of Justice Atuguba on that second issue of the immunity of the directors and officers of the IFC was supported by Mrs Justice Akoto-Bamfo.
The two were of the view that the Constitution guaranteed the rights and interests of individuals and for that reason, the interest of Mr Tsikata overweighed that of the IFC.
The court should have given its judgement on June 25,2008 but had to adjourn the case sine die following a request to that effect from Mr Tsikata, who had then been sentenced to a five-year jail term.
Valley Farms contracted the loan from Caisse Francaise de Developement in 1991 but defaulted in the payment and the GNPC, which had acted as the guarantor, was compelled to pay it in 1996.
During Mr Tsikata’s defence, he had stated that the IFC had financed a feasibility study which had been conducted on the Valley Farms project and that study had indicated that the project was viable.
He then prayed the Fast Track High Court to issue a subpoena to the IFC Country Director to appear before the court and make available the feasibility study report on the project.
The court, presided over by Mrs Justice Henrietta Abban, granted the request and issued the subpoena, but lawyers for the IFC appeared before the court and argued that the IFC and its employees were immune from judicial processes unless they decided to waive that immunity.
Following the IFC’s submissions, the Fast Track High Court withdrew its earlier subpoena, prompting Mr Tsikata to appeal against the decision, but the Court of Appeal upheld the decision of the lower court.
He then went to the Supreme Court, praying the highest court of the land to decide on the matter.
Source: Daily Graphic
Ghana's first lady Naadu Mills gives Michelle Obama $48,000 gold watch
The first lady of Ghana, Mrs. Ernestina Naadu Mills has given America’s first lady Michelle Obama a gold watch valued at $48,000, according a US Federal Register report released in the US Tuesday.
Mrs. Mills’s gifts to Mrs. Obama is a Backes and Strauss “Black Star of Ghana” watch, “crafted in 18 karat gold with diamonds and leather,” according to the register report.
The blogger known as Craig M. describes the watch as an “automatic timepiece”.
Writing on his blog The Escapement, which he describes as a timepiece, related review and opinion blog, he said “during President & Mrs. Obama’s September visit to Africa the First Lady of Ghana, Mrs. Ernestina Mills, presented First Lady Michelle Obama with a stunning Backes & Strauss automatic timepiece. The 18kt rose gold watch contains 2.35 carats of diamonds with its dial adorned with the flag of the Republic of Ghana.
Contained within the graphic of the flag is the display for a moonphase complication. The watch was presented to her on behalf of Ghana by Backes & Struass, and the African Watch Trading Co Ltd. This is certainly no slouch of a watch but its extravagance comes second to the understanding that diamonds and gold are two of Ghana’s greatest resources.”
She also gave Mrs. Obama six pieces of ‘kente’ cloth and two glass bead jewelry sets, each consisting of a necklace, earrings, and two bracelets, all valued at $615, according to the register report.
The gifts are among a number of generous gifts given to the US first family and other public officials by government officials around the world.
All the presents, however, go to the National Archives because US law bars any US government official from receiving presents from foreign governments.
According to the register Obama and others accepted the gifts because “non-acceptance would cause embarrassment to donor and US government.”
Other givers to the Obama family and others include the King of Saudi Arabia, King Abdullah. He was reported to have given gifts valued over $300,000.
He gave gifts worth $34,500 to President Obama, some $146,200 dollars worth to Mrs. Michelle Obama and $7,275 worth to their two daughters Malia and Sasha.
The monarch also gave gifts worth $108,245 to White House staff, presents valued at $23,400 dollars to a senior US diplomatic interpreter and gifts estimated at $12,000 dollars to the US charge d’affaires in Riyadh, the report said.
Among the gifts that the Saudi King gave to President Obama were a “large desert scene on a green veined marble base featuring figurines of gold palm trees and camels” and a large brass and glass clock by Jaeger-LeCoultre.
According to the register he also gave the Mrs. Obama a ruby and diamond jewelry set worth $132,000 as well as a pearl necklace valued at $14,200, while their daughters also received jewelry worth thousands of dollars in addition to books and DVDs.
The Chinese President, Hu Jintao gave President Obama a framed and matted fine silk embroidery depicting a portrait study of the First Family valued at $20,000, Miyuki Hatoyama, the wife of the then Japan Prime Minister Yukio Hatoyama gave Mrs. Obama a pearl necklace valued at $9,700 and Israeli President Shimon Peres gave President Obama got a bronze statue of a girl releasing a flock of doves valued at $8,000, the report said.
By Emmanuel K. Dogbevi
ghanabusinessnews.com
Mrs. Mills’s gifts to Mrs. Obama is a Backes and Strauss “Black Star of Ghana” watch, “crafted in 18 karat gold with diamonds and leather,” according to the register report.
The blogger known as Craig M. describes the watch as an “automatic timepiece”.
Writing on his blog The Escapement, which he describes as a timepiece, related review and opinion blog, he said “during President & Mrs. Obama’s September visit to Africa the First Lady of Ghana, Mrs. Ernestina Mills, presented First Lady Michelle Obama with a stunning Backes & Strauss automatic timepiece. The 18kt rose gold watch contains 2.35 carats of diamonds with its dial adorned with the flag of the Republic of Ghana.
Contained within the graphic of the flag is the display for a moonphase complication. The watch was presented to her on behalf of Ghana by Backes & Struass, and the African Watch Trading Co Ltd. This is certainly no slouch of a watch but its extravagance comes second to the understanding that diamonds and gold are two of Ghana’s greatest resources.”
She also gave Mrs. Obama six pieces of ‘kente’ cloth and two glass bead jewelry sets, each consisting of a necklace, earrings, and two bracelets, all valued at $615, according to the register report.
The gifts are among a number of generous gifts given to the US first family and other public officials by government officials around the world.
All the presents, however, go to the National Archives because US law bars any US government official from receiving presents from foreign governments.
According to the register Obama and others accepted the gifts because “non-acceptance would cause embarrassment to donor and US government.”
Other givers to the Obama family and others include the King of Saudi Arabia, King Abdullah. He was reported to have given gifts valued over $300,000.
He gave gifts worth $34,500 to President Obama, some $146,200 dollars worth to Mrs. Michelle Obama and $7,275 worth to their two daughters Malia and Sasha.
The monarch also gave gifts worth $108,245 to White House staff, presents valued at $23,400 dollars to a senior US diplomatic interpreter and gifts estimated at $12,000 dollars to the US charge d’affaires in Riyadh, the report said.
Among the gifts that the Saudi King gave to President Obama were a “large desert scene on a green veined marble base featuring figurines of gold palm trees and camels” and a large brass and glass clock by Jaeger-LeCoultre.
According to the register he also gave the Mrs. Obama a ruby and diamond jewelry set worth $132,000 as well as a pearl necklace valued at $14,200, while their daughters also received jewelry worth thousands of dollars in addition to books and DVDs.
The Chinese President, Hu Jintao gave President Obama a framed and matted fine silk embroidery depicting a portrait study of the First Family valued at $20,000, Miyuki Hatoyama, the wife of the then Japan Prime Minister Yukio Hatoyama gave Mrs. Obama a pearl necklace valued at $9,700 and Israeli President Shimon Peres gave President Obama got a bronze statue of a girl releasing a flock of doves valued at $8,000, the report said.
By Emmanuel K. Dogbevi
ghanabusinessnews.com
Wednesday, January 19, 2011
Tap Oil drills for oil offshore Accra
Australian oil company, Tap Oil Limited (Tap) has said that it has commenced operations on Ghana’s offshore Accra project in order to find oil.
According to information on its website, Tap Oil Limited begun a 1200 square kilometre 3D seismic survey over the offshore area on January 9, 2011. It said the survey has been brought forward in the exploration program because recent studies have shown additional potential in the deep water portion of the block which requires 3D data for maturation.
Tap Oil said a 2D seismic data had already identified the presence of some similar structural features that were explored elsewhere which led to the discovery of oil in both the Jubilee Fields and Owo oil discovery.
“The Company is very encouraged by early seismic interpretation in the block. The early acquisition of new 3D data will enable all recognized plays in the block to be properly characterised in a timely manner and ultimately result in a complete seriatim of drillable prospects from which the Tap-led JV will select the first drilling candidate”, Chief Executive Officer of Tap Oil, Troy Hayden said.
Mr Hayden added that the survey is Tap’s first operated field activity in West Africa and, as such, preparation for it has been one of the key activities of the past few months.
“Tap staff and contractors have worked diligently with GNPC and other Ghanaian authorities, acquisition contractor Polarcus, our Joint Venture partners and various other contractors to complete the planning and approvals process in a timely manner”, he added.
At the end of the approximately 1200 sq km survey, 80% of the permit will be covered by new or reprocessed 3D seismic data.
Polarcus Naila, a vessel to be used for the survey is expected to take six weeks to complete the operation and with a fast-track processed data to be available four weeks after the end of acquisition and final processed data scheduled for delivery towards the end of the year.
Located at the south-east of Accra, the offshore covers an area of 2000 square kilometres, in water depths ranging from less than 50 metres to greater than 2500 metres.
Tap holds a 36% interest in the Offshore Accra contract area along with joint venture partners Afex Oil (27%), Challenger Minerals (27%) and Ghana National Petroleum Company (GNPC) (10%).
However GNPC has the option of increasing its interest in the event of a commercial discovery
The Petroleum Agreement between Tap, its Joint Venture partners, the Republic of Ghana and the GNPC governing exploration of the Contract Area was formally ratified on March 24, 2010.
Ghana became an oil producing country when on December 15, 2010, the first commercial oil was produced at the Jubilee Oil field which is the largest oil field to be discovered in West Africa in the last 10 to 15 years.
By Ekow Quandzie
ghanabusinessnews.com
According to information on its website, Tap Oil Limited begun a 1200 square kilometre 3D seismic survey over the offshore area on January 9, 2011. It said the survey has been brought forward in the exploration program because recent studies have shown additional potential in the deep water portion of the block which requires 3D data for maturation.
Tap Oil said a 2D seismic data had already identified the presence of some similar structural features that were explored elsewhere which led to the discovery of oil in both the Jubilee Fields and Owo oil discovery.
“The Company is very encouraged by early seismic interpretation in the block. The early acquisition of new 3D data will enable all recognized plays in the block to be properly characterised in a timely manner and ultimately result in a complete seriatim of drillable prospects from which the Tap-led JV will select the first drilling candidate”, Chief Executive Officer of Tap Oil, Troy Hayden said.
Mr Hayden added that the survey is Tap’s first operated field activity in West Africa and, as such, preparation for it has been one of the key activities of the past few months.
“Tap staff and contractors have worked diligently with GNPC and other Ghanaian authorities, acquisition contractor Polarcus, our Joint Venture partners and various other contractors to complete the planning and approvals process in a timely manner”, he added.
At the end of the approximately 1200 sq km survey, 80% of the permit will be covered by new or reprocessed 3D seismic data.
Polarcus Naila, a vessel to be used for the survey is expected to take six weeks to complete the operation and with a fast-track processed data to be available four weeks after the end of acquisition and final processed data scheduled for delivery towards the end of the year.
Located at the south-east of Accra, the offshore covers an area of 2000 square kilometres, in water depths ranging from less than 50 metres to greater than 2500 metres.
Tap holds a 36% interest in the Offshore Accra contract area along with joint venture partners Afex Oil (27%), Challenger Minerals (27%) and Ghana National Petroleum Company (GNPC) (10%).
However GNPC has the option of increasing its interest in the event of a commercial discovery
The Petroleum Agreement between Tap, its Joint Venture partners, the Republic of Ghana and the GNPC governing exploration of the Contract Area was formally ratified on March 24, 2010.
Ghana became an oil producing country when on December 15, 2010, the first commercial oil was produced at the Jubilee Oil field which is the largest oil field to be discovered in West Africa in the last 10 to 15 years.
By Ekow Quandzie
ghanabusinessnews.com
Opposition NPP commends government for selling stake in AngloGold Ashanti
The opposition New Patriotic Party (NPP) has commended the National Democratic Congress (NDC) government for selling part of Ghana’s stake in AngloGold Ashanti, one of the leading mining companies in Ghana.
The party’s spokesman on Finance and Member of Parliament, Dr. Osei Akoto told ghanabusinessnews.com that the decision is a right one because the price of gold has appreciated on the international market.
Ghana sold 1.28% of the country’s stake in AngloGold Ashanti for $43.97 a share and raised $215 million, according to a Bloomberg News report.
The report citing the Johannesburg-based unit of manager Macquarie Group Ltd, said the sale of 4.88 million shares leaves Ghana with 1.72% in AngloGold that it agreed not to sell for 180 days.
The Ghana government was the majority shareholder in Ashanti Goldfields Company, until it announced plans to sell 20-25% of its interest in the mine.
Subsequently, the company was listed on the London and Ghana Stock Exchanges.
In 1996 the company was listed on the New York Stock Exchange to raise new capital and it became the first African company to appear on Wall Street.
In 2004, it merged with AngloGold to create the world’s second-largest gold producer, AngloGold Ashanti company.
AngloGold Ashanti owns two mines in Ghana at Obuasi and Iduapriem.
By Emmanuel K. Dogbevi
ghanabusinessnews.com
The party’s spokesman on Finance and Member of Parliament, Dr. Osei Akoto told ghanabusinessnews.com that the decision is a right one because the price of gold has appreciated on the international market.
Ghana sold 1.28% of the country’s stake in AngloGold Ashanti for $43.97 a share and raised $215 million, according to a Bloomberg News report.
The report citing the Johannesburg-based unit of manager Macquarie Group Ltd, said the sale of 4.88 million shares leaves Ghana with 1.72% in AngloGold that it agreed not to sell for 180 days.
The Ghana government was the majority shareholder in Ashanti Goldfields Company, until it announced plans to sell 20-25% of its interest in the mine.
Subsequently, the company was listed on the London and Ghana Stock Exchanges.
In 1996 the company was listed on the New York Stock Exchange to raise new capital and it became the first African company to appear on Wall Street.
In 2004, it merged with AngloGold to create the world’s second-largest gold producer, AngloGold Ashanti company.
AngloGold Ashanti owns two mines in Ghana at Obuasi and Iduapriem.
By Emmanuel K. Dogbevi
ghanabusinessnews.com
China leads in foreign investments in Ghana
The number of investments registered in Ghana reached 385 in 2010 as compared to 257 projects in 2009 and China tops the list of foreign investors with 67 projects.
Bermuda, however has the largest value of investments worth $300 million, the Ghana Investment Promotion Centre (GIPC) has said.
It indicated that out of the 385 registered projects, 249 were wholly-owned foreign enterprises and 136 were joint ventures between Ghanaians and foreign partners.
The joint venture projects, according to the GIPC were valued at GH¢163.91 million and the wholly-owned foreign enterprises were valued at GH¢1.63 billion.
The Foreign Direct Investment (FDI) component of the estimated value of the projects registered in 2010 amounted to GH¢1.55 billion and the local currency component of GH¢239.01 million, it said.
By Emmanuel K. Dogbevi
ghanabusinessnews.com
Bermuda, however has the largest value of investments worth $300 million, the Ghana Investment Promotion Centre (GIPC) has said.
It indicated that out of the 385 registered projects, 249 were wholly-owned foreign enterprises and 136 were joint ventures between Ghanaians and foreign partners.
The joint venture projects, according to the GIPC were valued at GH¢163.91 million and the wholly-owned foreign enterprises were valued at GH¢1.63 billion.
The Foreign Direct Investment (FDI) component of the estimated value of the projects registered in 2010 amounted to GH¢1.55 billion and the local currency component of GH¢239.01 million, it said.
By Emmanuel K. Dogbevi
ghanabusinessnews.com
Tuesday, January 18, 2011
TV3 Ghana goes up for sale at around $2.8m
TV3, one of Ghana’s private TV stations is being put up for sale by its Malaysian owners, Media Prima Bhd.
News reports from Malaysia say owners of GAMA Media, it Ghana subsidiary and managers of TV3 Ghana has entered into a sale purchase agreement to divest 90% equity interest in TV3 to Media General Ghana Ltd., for RM8.63 million (Malaysian Ringgits), which is approximately $2.8 million.
Media General is an investment holding company.
Media Prima has said in its filing to the Bursa Malaysia, an exchange holding company which operates a fully integrated exchange, that the divestment was in line with the group’s strategy to focus on domestic operations.
According to Media Prima, the proposed divestment was expected to be completed by the third quarter of 2011.
Meanwhile, in December 2009 Media Prima indicated that it was looking for other options apart from an earlier announced proposal for an initial pubic offer (IPO) on the Ghana Stock Exchange to raise additional capital.
Media Prima said then that it was looking for the options to raise funds as a result of what it described as “unfavourable market conditions.” The company said it needed the money to expand its operations in Ghana, replace obsolete equipment and train staff to do better programmes.
By Emmanuel K. Dogbevi
ghanabusinessnews.com
News reports from Malaysia say owners of GAMA Media, it Ghana subsidiary and managers of TV3 Ghana has entered into a sale purchase agreement to divest 90% equity interest in TV3 to Media General Ghana Ltd., for RM8.63 million (Malaysian Ringgits), which is approximately $2.8 million.
Media General is an investment holding company.
Media Prima has said in its filing to the Bursa Malaysia, an exchange holding company which operates a fully integrated exchange, that the divestment was in line with the group’s strategy to focus on domestic operations.
According to Media Prima, the proposed divestment was expected to be completed by the third quarter of 2011.
Meanwhile, in December 2009 Media Prima indicated that it was looking for other options apart from an earlier announced proposal for an initial pubic offer (IPO) on the Ghana Stock Exchange to raise additional capital.
Media Prima said then that it was looking for the options to raise funds as a result of what it described as “unfavourable market conditions.” The company said it needed the money to expand its operations in Ghana, replace obsolete equipment and train staff to do better programmes.
By Emmanuel K. Dogbevi
ghanabusinessnews.com
Adamus Resources becomes Ghana’s newest gold producer, as country’s gold output rises 3%
Australian mining company Adamus Resources becomes Ghana’s newest gold producer when the company poured the first gold at its Nzema gold project, as the country’s gold output rises 3%.
A report by the Mining Weekly says the first gold bar was poured Monday January 17, 2010 from the two million-ton a year processing plant.
“The company’s first gold pour is the culmination of eight years of hard work driven by the belief that the Ashanti gold region represents the next generation of shallow, low-cost, multi-million ounce gold mines,” the publication quoted Adamus CEO Mark Connelly as saying Tuesday.
Connelly was also cited as saying that from a geological and jurisdication perspective, Ghana was arguably the best address for greenfields exploration potential and project development.
“Gold exports account for 40% of Ghana’s gross domestic product, the political environment is stable and supportive of business and we are operating in a region that already hosts over 100-million ounces of gold,” he added.
Meanwhile, figures released by the Ghana Chamber of Mines show that the country’s gold output rose 3% during the first nine months of 2010 compared to 2009.
Ghana produced some 2.24 million ounces of gold during the period, as against 2.17 million ounces in the first nine months of 2009, the Chamber said.
The figures also indicate that revenues from gold mining, rose 30% to $2.611 billion.
By Emmanuel K. Dogbevi
ghanabusinessnews.com
A report by the Mining Weekly says the first gold bar was poured Monday January 17, 2010 from the two million-ton a year processing plant.
“The company’s first gold pour is the culmination of eight years of hard work driven by the belief that the Ashanti gold region represents the next generation of shallow, low-cost, multi-million ounce gold mines,” the publication quoted Adamus CEO Mark Connelly as saying Tuesday.
Connelly was also cited as saying that from a geological and jurisdication perspective, Ghana was arguably the best address for greenfields exploration potential and project development.
“Gold exports account for 40% of Ghana’s gross domestic product, the political environment is stable and supportive of business and we are operating in a region that already hosts over 100-million ounces of gold,” he added.
Meanwhile, figures released by the Ghana Chamber of Mines show that the country’s gold output rose 3% during the first nine months of 2010 compared to 2009.
Ghana produced some 2.24 million ounces of gold during the period, as against 2.17 million ounces in the first nine months of 2009, the Chamber said.
The figures also indicate that revenues from gold mining, rose 30% to $2.611 billion.
By Emmanuel K. Dogbevi
ghanabusinessnews.com
Ghana learns from Zambia to curb drug trafficking
Officials of the Narcotic Control Board (NARCOB) of Ghana, the country’s drug enforcement agency is in Zambia to pick lessons on how to curb the menace in Ghana.
The Zambia National Broadcasting Corporation (ZNBC) reports that a member of the NARCOB team on the trip says Ghana wants to learn on how Zambia is reducing the cases of drug trafficking.
Mr. Stephen Adongo was reported to have praised Zambia for involving its traditional rulers in curbing drug trafficking in the East African country.
According to the report Mr. Adongo says Ghana wants to learn how to reduce drug trafficking from Zambia.
Ghana’s drug enforcement officials came under criticisms recently following the release of US Embassy cables by the whistle blowing website, WikiLeaks.
The cables say Ghanaian officials including some close to the presidency know who the drug barons in the country are, but choose not to arrest them. Instead they arrest only small couriers.
According to the cables which were written on Friday, December 21, 2007, Ghana is becoming a significant transshipment point for cocaine from South America and heroin from South East Asia.
“The Government of Ghana does not have a handle on the issue and lacks an overarching strategy to deal with the problem,” The cables said.
According to the cables Ghana focuses more on prevention rather than investigations of drugs trafficking.
By Emmanuel K. Dogbevi
ghanabusinessnews.com
West African election observers form coalition
Eleven West African countries including Ghana have come together to form an institutionalized election observation group called West Africa Election Observers Network (WAEON).
WAEON, formed by the Citizens’ Election Observation Groups (CEOGs) from the West African sub-region, is aimed at strengthening the effective participation in electoral processes in accordance with the Declaration of Global Principles for Non-partisan Election Observation and Monitoring by Citizen Organizations.
In a statement signed for and on behalf of WAEON by Mashood Erubami, Chairperson-Elect, Transitional Monitoring Group (TMG), Nigeria and copied to ghanabusinessnews.com said the Network is made up of independent, non-partisan and non-religious organizations.
“The network will provide technical and moral support to its member organizations in order to encourage non-partisan citizen election observation, champion electoral reforms and advocacy, and promote credible elections as a means of deepening electoral democracy in the sub-region”, the statement said.
Funded by the National Endowment for Democracy (NED), the Ghana Center for Democratic Development (CDD-Ghana) would serve as WAEON’s secretariat.
The member organizations of WAEON include: Mouvement Burkinabé des Droits de l’Homme et des Peuples (MBDHP), Burkina Faso; Convention de la Société Civile Ivoirienne (CSCI), Cote d’Ivoire; Coalition of Domestic Elections Observers (CODEO), Ghana; Consortium d’Observation des Elections (COE), Guinea.
Others includes Liberia Democratic Institute (LDI), Liberia; Appui au Processus Electoral au Mali (APEM), Mali; Association Nigérienne pour la Défense des Droits de l’Homme (ANDDH), Niger; Transition Monitoring Group (TMG), Nigeria; Rencontre Africaine pour la Défense des Droits de l’Homme (RADDHO), Sénégal; National Election Watch (NEW), Sierra Leone; and Concertation Nationale de la Société Civile (CNSC), Togo.
By Ekow Quandzie
ghanabusinessnews.com
WAEON, formed by the Citizens’ Election Observation Groups (CEOGs) from the West African sub-region, is aimed at strengthening the effective participation in electoral processes in accordance with the Declaration of Global Principles for Non-partisan Election Observation and Monitoring by Citizen Organizations.
In a statement signed for and on behalf of WAEON by Mashood Erubami, Chairperson-Elect, Transitional Monitoring Group (TMG), Nigeria and copied to ghanabusinessnews.com said the Network is made up of independent, non-partisan and non-religious organizations.
“The network will provide technical and moral support to its member organizations in order to encourage non-partisan citizen election observation, champion electoral reforms and advocacy, and promote credible elections as a means of deepening electoral democracy in the sub-region”, the statement said.
Funded by the National Endowment for Democracy (NED), the Ghana Center for Democratic Development (CDD-Ghana) would serve as WAEON’s secretariat.
The member organizations of WAEON include: Mouvement Burkinabé des Droits de l’Homme et des Peuples (MBDHP), Burkina Faso; Convention de la Société Civile Ivoirienne (CSCI), Cote d’Ivoire; Coalition of Domestic Elections Observers (CODEO), Ghana; Consortium d’Observation des Elections (COE), Guinea.
Others includes Liberia Democratic Institute (LDI), Liberia; Appui au Processus Electoral au Mali (APEM), Mali; Association Nigérienne pour la Défense des Droits de l’Homme (ANDDH), Niger; Transition Monitoring Group (TMG), Nigeria; Rencontre Africaine pour la Défense des Droits de l’Homme (RADDHO), Sénégal; National Election Watch (NEW), Sierra Leone; and Concertation Nationale de la Société Civile (CNSC), Togo.
By Ekow Quandzie
ghanabusinessnews.com
Monday, January 17, 2011
Tullow Oil hits gas at Tweneboa-3 well
Tullow Oil says Monday that it has hit gas in Ghana, barely one month after it began commercial production of oil in the country.
In a press release copied to ghanabusinessnews.com, the leading oil producer in Ghana, Tullow Oil says its Tweneboa-3 appraisal well in the Deepwater Tano licence offshore Ghana has successfully encountered gas condensate in excellent quality sandstone reservoirs.
According to Tullow, results of drilling, wireline logs and samples of reservoir fluids, together with the well’s down-dip position confirms the Greater Tweneboa Area resource base potential.
The well which is located over six kilometres south-east of the Tweneboa-2 well and 12 kilometres south-east from the Tweneboa-1 discovery well, was planned with two deviated boreholes to test separate areas of the Tweneboa field.
The first leg was drilled to calibrate the potential of an area with a very weak seismic response. Within prognosis, this leg encountered thin reservoir sands and approximately 9 metres of gas condensate pay, it says.
The well was then sidetracked 550 metres west, targeting the significant Ntomme anomaly, an area of strong seismic response. This leg successfully encountered a gross vertical reservoir interval of approximately 65 metres containing 34 metres of net gas condensate pay in two zones of high quality stacked reservoir sandstones.
Tullow indicates that work is underway to integrate seismic, pressure and hydrocarbon phase data in order to progress development options for the Tweneboa and Enyenra (Owo) fields in the Greater Tweneboa Area.
Tweneboa-3 was drilled by the Deepwater Millennium drillship to a total depth of 3,906 metres in a water depth of 1,601 metres. On completion of operations, the well will be suspended for future use in the field development.
By Emmanuel K. Dogbevi
ghanabusinessnews.com
In a press release copied to ghanabusinessnews.com, the leading oil producer in Ghana, Tullow Oil says its Tweneboa-3 appraisal well in the Deepwater Tano licence offshore Ghana has successfully encountered gas condensate in excellent quality sandstone reservoirs.
According to Tullow, results of drilling, wireline logs and samples of reservoir fluids, together with the well’s down-dip position confirms the Greater Tweneboa Area resource base potential.
The well which is located over six kilometres south-east of the Tweneboa-2 well and 12 kilometres south-east from the Tweneboa-1 discovery well, was planned with two deviated boreholes to test separate areas of the Tweneboa field.
The first leg was drilled to calibrate the potential of an area with a very weak seismic response. Within prognosis, this leg encountered thin reservoir sands and approximately 9 metres of gas condensate pay, it says.
The well was then sidetracked 550 metres west, targeting the significant Ntomme anomaly, an area of strong seismic response. This leg successfully encountered a gross vertical reservoir interval of approximately 65 metres containing 34 metres of net gas condensate pay in two zones of high quality stacked reservoir sandstones.
Tullow indicates that work is underway to integrate seismic, pressure and hydrocarbon phase data in order to progress development options for the Tweneboa and Enyenra (Owo) fields in the Greater Tweneboa Area.
Tweneboa-3 was drilled by the Deepwater Millennium drillship to a total depth of 3,906 metres in a water depth of 1,601 metres. On completion of operations, the well will be suspended for future use in the field development.
By Emmanuel K. Dogbevi
ghanabusinessnews.com
Group highlights customer service practices in Ghana with awards scheme
It is common in Ghana to walk into a fully stocked shop with attendants who would not notice you. It is possible to walk into an office and front desk employees would not blink an eye nor respond to your queries.
Most businesses have very little regard for customers, and even though most have customer service units, they are created simply for the sake of completing a company’s business structure – they are hardly anything near customer service.
“The quality of Customer service in Ghana is nothing to write home about. Even though most businesses have now incorporated customer service departments as part of their strategies, they are still unable to give exceptional customer service because they don’t understand the importance and impact that the quality of their service can have on their businesses,” says Yvonne MacCarthy, a Customer Service Professional and CEO of Service Care Solutions, a customer service consultancy firm.
She says customer service qualities are more of a formality as opposed to a value that one must have as an employee or an employer.
According to her the typical frontline Ghanaian employee does not see it as a priviledge to have customer’s patronizing their goods and services. “They forget that their boss is not the man or woman whom they report to but indeed their boss is the customer,” she adds.
But it appears all that is about to change very soon. An advocacy group seeking to make customer service a focus of Ghanaian businesses is pursuing the goal by acknowledging good customer service practices of companies in the country.
The group known as the Ghana Customer Service Awards Team last November 19, 2010 launched the first Ghana Customer Service Awards. The aim is to reward companies with good customer service practices and to shame those who do not treat customers’ right.
The CEO of the Team, Hector Wullf tells ghanabusinessnews.com that the award scheme is expected to encourage businesses to render good services to customers.
“Due to the awards,” he says, “the public would also be informed of which companies are providing excellent customer services and which ones are not.”
Mr. Wulff believes that the awards would influence customer’s choice of who to deal with in an open market.
“The Ghanaian consuming public deserves excellent customer service, and this award scheme is to in a way celebrate the impact of good customer service practices on both the consumer and businesses as Ghana emerges as an oil economy and business destination in Africa,” he said.
Ms. MacCarthy says “Change, change, change. Businesses need to make allowances for change. Most businesses are too scared to make changes, to learn new ways of doing things. The service provider must learn to see customer service as a mandatory activity and employers must invest in good training programs and consultants to help update their service processes. These changes must be measured and quality service must be rewarded.”
In an innovative model, the Team traveled to the offices and premises of over 20 companies and individuals and gave them their awards in honour of excellent customer service.
The companies were selected after mystery shopping, and telephone conversations to gauge their customer service efficiencies.
By Emmanuel K. Dogbevi
ghanabusinessnews.com
Most businesses have very little regard for customers, and even though most have customer service units, they are created simply for the sake of completing a company’s business structure – they are hardly anything near customer service.
“The quality of Customer service in Ghana is nothing to write home about. Even though most businesses have now incorporated customer service departments as part of their strategies, they are still unable to give exceptional customer service because they don’t understand the importance and impact that the quality of their service can have on their businesses,” says Yvonne MacCarthy, a Customer Service Professional and CEO of Service Care Solutions, a customer service consultancy firm.
She says customer service qualities are more of a formality as opposed to a value that one must have as an employee or an employer.
According to her the typical frontline Ghanaian employee does not see it as a priviledge to have customer’s patronizing their goods and services. “They forget that their boss is not the man or woman whom they report to but indeed their boss is the customer,” she adds.
But it appears all that is about to change very soon. An advocacy group seeking to make customer service a focus of Ghanaian businesses is pursuing the goal by acknowledging good customer service practices of companies in the country.
The group known as the Ghana Customer Service Awards Team last November 19, 2010 launched the first Ghana Customer Service Awards. The aim is to reward companies with good customer service practices and to shame those who do not treat customers’ right.
The CEO of the Team, Hector Wullf tells ghanabusinessnews.com that the award scheme is expected to encourage businesses to render good services to customers.
“Due to the awards,” he says, “the public would also be informed of which companies are providing excellent customer services and which ones are not.”
Mr. Wulff believes that the awards would influence customer’s choice of who to deal with in an open market.
“The Ghanaian consuming public deserves excellent customer service, and this award scheme is to in a way celebrate the impact of good customer service practices on both the consumer and businesses as Ghana emerges as an oil economy and business destination in Africa,” he said.
Ms. MacCarthy says “Change, change, change. Businesses need to make allowances for change. Most businesses are too scared to make changes, to learn new ways of doing things. The service provider must learn to see customer service as a mandatory activity and employers must invest in good training programs and consultants to help update their service processes. These changes must be measured and quality service must be rewarded.”
In an innovative model, the Team traveled to the offices and premises of over 20 companies and individuals and gave them their awards in honour of excellent customer service.
The companies were selected after mystery shopping, and telephone conversations to gauge their customer service efficiencies.
By Emmanuel K. Dogbevi
ghanabusinessnews.com
Fan Milk, FDB sued over expired product
Mr Jonathan Osei Owusu, a human rights activist, has filed a suit at the Human Rights Court in Accra against Fan Milk Ghana Limited (FML) and the Food and Drugs Board (FDB) for the alleged sale of expired Fanyogo products on the Ghanaian market.
The suit follows a severe stomach ache Mr Osei Owusu said he suffered which resulted in his hospitalisation, after eating a Fanyogo product he purchased in August, 2009 from one of the company’s vendors.
In a statement of claim, Mr Owusu, who is also the Executive Director of POS Foundation in Accra, is asking the court to order FML to fix legible expiry dates on the Fanyogo products as well as stop the sale of its milk products carried by vendors in the hot sun.
He said the court must also order the FDB to ensure that the FML fixed a legible expiry date on the product and had effective monitoring mechanism to protect public interest and safety.
Mr Owusu also said the court should order FML to immediately recall all Fanyogo products on the Ghanaian market until legible expiry dates were fixed on the product.
He said the court should place an injunction on the company’s production, especially Fanyogo, until they had met the condition and recalled the product on the market.
Mr Osei Owusu is asking the court to award cost and damages against the company for the number of weeks he had to stay at home and the payment of his hospital bill.
He said a number of attempts were made to find an amicable and useful solution as it affected the public as well as individuals involved, but both FML and the FDB treated “the alarming issue with disrespect and contempt”.
Source: GNA
The suit follows a severe stomach ache Mr Osei Owusu said he suffered which resulted in his hospitalisation, after eating a Fanyogo product he purchased in August, 2009 from one of the company’s vendors.
In a statement of claim, Mr Owusu, who is also the Executive Director of POS Foundation in Accra, is asking the court to order FML to fix legible expiry dates on the Fanyogo products as well as stop the sale of its milk products carried by vendors in the hot sun.
He said the court must also order the FDB to ensure that the FML fixed a legible expiry date on the product and had effective monitoring mechanism to protect public interest and safety.
Mr Owusu also said the court should order FML to immediately recall all Fanyogo products on the Ghanaian market until legible expiry dates were fixed on the product.
He said the court should place an injunction on the company’s production, especially Fanyogo, until they had met the condition and recalled the product on the market.
Mr Osei Owusu is asking the court to award cost and damages against the company for the number of weeks he had to stay at home and the payment of his hospital bill.
He said a number of attempts were made to find an amicable and useful solution as it affected the public as well as individuals involved, but both FML and the FDB treated “the alarming issue with disrespect and contempt”.
Source: GNA
Ghana’s inflation for December 2010 dips at 8.58%
Ghana’s inflation for the month of December 2010 has dropped to 8.58% the Ghana Statistical Services (GSS) announced today in Accra.
The country’s inflation rate at 8.58% becomes the lowest since 1992.
In November 2010, the inflation rate fell to 9.8%.
The GSS says general price level for the month was 1.13% lower than November 2010.
At the beginning of 2010 the inflation rate was 14.78% in January. The cumulative decline between January 2010 and December 2010 is 6.20 percentage points according to the GSS.
It says the downward pressure on inflation can be attributed to both the food and non-alcoholic beverages group and the non-food group. The food and non-alcoholic beverages group recorded single digit inflation rate throughout the year, while non-food inflation rate, though declining, has been recording double digit inflation rates, it added.
Ghana’s inflation rate has largely been projected to fall this year as the economy grows following the commercial production of oil. The Ministry of Finance predicted the year 2010 would end with an inflation rate of 9.2%.
By Emmanuel K. Dogbevi
ghanabusinessnews.com
The country’s inflation rate at 8.58% becomes the lowest since 1992.
In November 2010, the inflation rate fell to 9.8%.
The GSS says general price level for the month was 1.13% lower than November 2010.
At the beginning of 2010 the inflation rate was 14.78% in January. The cumulative decline between January 2010 and December 2010 is 6.20 percentage points according to the GSS.
It says the downward pressure on inflation can be attributed to both the food and non-alcoholic beverages group and the non-food group. The food and non-alcoholic beverages group recorded single digit inflation rate throughout the year, while non-food inflation rate, though declining, has been recording double digit inflation rates, it added.
Ghana’s inflation rate has largely been projected to fall this year as the economy grows following the commercial production of oil. The Ministry of Finance predicted the year 2010 would end with an inflation rate of 9.2%.
By Emmanuel K. Dogbevi
ghanabusinessnews.com
UK authorities shelve report on e-waste dumping in Ghana
It is unbelievable that British government authorities are shelving the outcome of an investigation into allegations of e-waste dumping into Ghana by some British companies.
The Environment Agency (EA) of the UK confirmed to me in October 2008 that indeed an investigation into the illegal dumping of e-waste into Ghana by some British companies had been initiated.
In May 2010, in response to enquiries the EA told ghanabusinessnews.com that it’s investigation team had completed its work and the report was with their lawyers.
“Our officers have now completed their investigations and their findings are now with lawyers for consideration,” Scarlett Elworthy, an official of the EA wrote.
After this communication, all our enquiries about the matter have been ignored by the EA. In failing to make public the findings of such an important investigation, we can only conclude that the EA is shelving the report.
The dangers posed to both human health and the environment of Ghana by the toxic chemicals contained in e-waste are well known by now.
E-waste is known to contain dangerous chemical pollutants that are released into the atmosphere and underground water.
The modes of disposal, which include dumping old gadgets into landfills or burning in smelters, also expose the environment and humans to a cocktail of toxic chemicals and poison.
These chemicals contain substances like lead, mercury and arsenic.
The cathode ray tubes (CRTs) in most computer monitors and television screens have x-ray shields that contain 4 to 8 pounds of lead, mostly embedded in glass.
Flat screen monitors that are mostly used in laptops do not contain high concentrations of lead, but most are illuminated with fluorescent lights that contain some mercury.
A PC’s central processing unit (CPU), the module containing the chip and the hard disk, typically contains toxic heavy metals such as mercury (in switches), lead (in solder on circuit boards), and cadmium (in batteries).
Plastics used to house computer equipment and cover wire cables to prevent flammability often contain polybrominated flame retardants, a class of dangerous chemicals. Studies have shown that ingesting these substances may increase the risk of cancer, liver damage, and immune system dysfunction.
Lead, mercury, cadmium, and polybrominated flame retardants are all persistent, bio-accumulative toxins (PBTs), that can create environmental and health risks when computers are manufactured, incinerated, landfilled or melted during recycling. PBTs, in particular are a dangerous class of chemicals that linger in the environment and accumulate in living tissues.
And because they increase in concentration as they move up the food chain, PBTs can reach dangerous levels in living organisms, even when released in minute quantities. PBTs are harmful to human health and the environment and have been associated with cancer, nerve damage and reproductive disorders.
Looked at individually, the chemicals contained in e-waste are a cocktail of dangerous pollutants that kill both the environment and humans slowly.
Lead, which negative effects were recognized and therefore banned from gasoline in the 1970s causes damage to the central and peripheral nervous systems, blood systems, kidney and the reproductive system in humans.
Effects of lead on the endocrine system have been observed, including the serious negative effects it has on children’s brain development. When it accumulates in the environment, it has high acute and chronic effects on plants, animals and micro-organisms.
Cadmium compounds are also toxic with a possible risk of irreversible effects on human health and accumulate in the human body, particularly the kidneys. Cadmium occurs in certain components such as SMD chip resistors, infra-red detectors, and semi-conductor chips.
Mercury on the other hand, can cause damage to various organs including the brain and kidneys as well as the fetus. More especially, the developing fetus is highly susceptible through maternal exposure to mercury.
These are only few of the chemicals used in the manufacture of electronics equipment. Other chemicals are Hexavalent Chromium which is used as a corrosion protection of untreated and galvanized steel plates and as a decorative or hardener for steel housings. Plastics including, PVC are also used. Plastics constitute about 13.8 pounds of an average computer.
The largest volume of plastics, 26% used in electronics is PVC. When PVC is burned, dioxin can be formed because it contains chlorine compounds. Barium, is a soft silvery-white metal that is used in computers in the front panel of a CRT, to protect users from radiation.
Studies have shown that short-term exposure to barium has caused brain swelling, muscle weakness, damage to the liver, heart and spleen.
Considering the health hazards of e-waste, another ubiquitous computer peripheral scrap worth mentioning is toners. The main ingredient of the black toner is a pigment commonly called, carbon black – the general term used to describe the commercial powder form of carbon.
Inhalation is the primary means of exposure, and acute exposure may lead to respiratory tract irritation.
British news organization had published reports of the criminal acts by some British companies that are paid with tax payers’ money to recycle obsolete electronics equipment under scientifically approved safe methods, but they instead connive with others and ship these items containing dangerous chemical to other developing countries including Ghana.
The Independent, a UK publication for instance published a report based on investigations it conducted which revealed that toxic wastes from the UK continue to be dumped in Ghana and Nigeria.
The report said tonnes of toxic waste collected from British municipal dumps are being sent illegally to Africa in flagrant breach of the country’s obligation to ensure its rapidly growing mountain of defunct televisions, computers and gadgets are disposed of safely.
Hundreds of thousands of discarded items, which under British law must be dismantled or recycled by specialist contractors, are being packaged into cargo containers and shipped to countries such as Nigeria and Ghana, where they are stripped of their raw metals by young men and children working on poisoned waste dumps, the report said.
Some of the damaged computers found at the Agbogbloshie dump site in Accra had NHS labels on them. Other PCs were found to have been the property of UK councils and universities, including Kent County Council, Southampton County Council, Salford University and Richmond upon Thames College.
When the overwhelming evidence was put before the UK government showing that the UK is a regular source of the e-waste that comes to Africa, particularly Ghana and Nigeria, the UK government admitted in September 2009 that it is unable to stop the practice “because of the exponential surge in volumes of incorrectly classified waste being exported,” according to the Computer Weekly.
It is known that 20 to 50 million tonnes of e-waste are generated in the world annually and a great amount of that ends up in developing countries including Ghana and Nigeria.
Britain is responsible for around 15% of the EU’s total e-waste, which is growing three times faster than any other municipal waste stream.
It is worrying that the UK authorities would treat such matter in the manner that they are doing. It is the responsibility of the EA to make the findings of its investigations, what it might have found public.
Besides, since this situation is almost taking human rights dimensions, it is necessary to know what steps the UK government is taking to halt this inhuman act that is being perpetrated by its citizens on the people of Ghana.
By Emmanuel K. Dogbevi
ghanabusinessnews.com
The Environment Agency (EA) of the UK confirmed to me in October 2008 that indeed an investigation into the illegal dumping of e-waste into Ghana by some British companies had been initiated.
In May 2010, in response to enquiries the EA told ghanabusinessnews.com that it’s investigation team had completed its work and the report was with their lawyers.
“Our officers have now completed their investigations and their findings are now with lawyers for consideration,” Scarlett Elworthy, an official of the EA wrote.
After this communication, all our enquiries about the matter have been ignored by the EA. In failing to make public the findings of such an important investigation, we can only conclude that the EA is shelving the report.
The dangers posed to both human health and the environment of Ghana by the toxic chemicals contained in e-waste are well known by now.
E-waste is known to contain dangerous chemical pollutants that are released into the atmosphere and underground water.
The modes of disposal, which include dumping old gadgets into landfills or burning in smelters, also expose the environment and humans to a cocktail of toxic chemicals and poison.
These chemicals contain substances like lead, mercury and arsenic.
The cathode ray tubes (CRTs) in most computer monitors and television screens have x-ray shields that contain 4 to 8 pounds of lead, mostly embedded in glass.
Flat screen monitors that are mostly used in laptops do not contain high concentrations of lead, but most are illuminated with fluorescent lights that contain some mercury.
A PC’s central processing unit (CPU), the module containing the chip and the hard disk, typically contains toxic heavy metals such as mercury (in switches), lead (in solder on circuit boards), and cadmium (in batteries).
Plastics used to house computer equipment and cover wire cables to prevent flammability often contain polybrominated flame retardants, a class of dangerous chemicals. Studies have shown that ingesting these substances may increase the risk of cancer, liver damage, and immune system dysfunction.
Lead, mercury, cadmium, and polybrominated flame retardants are all persistent, bio-accumulative toxins (PBTs), that can create environmental and health risks when computers are manufactured, incinerated, landfilled or melted during recycling. PBTs, in particular are a dangerous class of chemicals that linger in the environment and accumulate in living tissues.
And because they increase in concentration as they move up the food chain, PBTs can reach dangerous levels in living organisms, even when released in minute quantities. PBTs are harmful to human health and the environment and have been associated with cancer, nerve damage and reproductive disorders.
Looked at individually, the chemicals contained in e-waste are a cocktail of dangerous pollutants that kill both the environment and humans slowly.
Lead, which negative effects were recognized and therefore banned from gasoline in the 1970s causes damage to the central and peripheral nervous systems, blood systems, kidney and the reproductive system in humans.
Effects of lead on the endocrine system have been observed, including the serious negative effects it has on children’s brain development. When it accumulates in the environment, it has high acute and chronic effects on plants, animals and micro-organisms.
Cadmium compounds are also toxic with a possible risk of irreversible effects on human health and accumulate in the human body, particularly the kidneys. Cadmium occurs in certain components such as SMD chip resistors, infra-red detectors, and semi-conductor chips.
Mercury on the other hand, can cause damage to various organs including the brain and kidneys as well as the fetus. More especially, the developing fetus is highly susceptible through maternal exposure to mercury.
These are only few of the chemicals used in the manufacture of electronics equipment. Other chemicals are Hexavalent Chromium which is used as a corrosion protection of untreated and galvanized steel plates and as a decorative or hardener for steel housings. Plastics including, PVC are also used. Plastics constitute about 13.8 pounds of an average computer.
The largest volume of plastics, 26% used in electronics is PVC. When PVC is burned, dioxin can be formed because it contains chlorine compounds. Barium, is a soft silvery-white metal that is used in computers in the front panel of a CRT, to protect users from radiation.
Studies have shown that short-term exposure to barium has caused brain swelling, muscle weakness, damage to the liver, heart and spleen.
Considering the health hazards of e-waste, another ubiquitous computer peripheral scrap worth mentioning is toners. The main ingredient of the black toner is a pigment commonly called, carbon black – the general term used to describe the commercial powder form of carbon.
Inhalation is the primary means of exposure, and acute exposure may lead to respiratory tract irritation.
British news organization had published reports of the criminal acts by some British companies that are paid with tax payers’ money to recycle obsolete electronics equipment under scientifically approved safe methods, but they instead connive with others and ship these items containing dangerous chemical to other developing countries including Ghana.
The Independent, a UK publication for instance published a report based on investigations it conducted which revealed that toxic wastes from the UK continue to be dumped in Ghana and Nigeria.
The report said tonnes of toxic waste collected from British municipal dumps are being sent illegally to Africa in flagrant breach of the country’s obligation to ensure its rapidly growing mountain of defunct televisions, computers and gadgets are disposed of safely.
Hundreds of thousands of discarded items, which under British law must be dismantled or recycled by specialist contractors, are being packaged into cargo containers and shipped to countries such as Nigeria and Ghana, where they are stripped of their raw metals by young men and children working on poisoned waste dumps, the report said.
Some of the damaged computers found at the Agbogbloshie dump site in Accra had NHS labels on them. Other PCs were found to have been the property of UK councils and universities, including Kent County Council, Southampton County Council, Salford University and Richmond upon Thames College.
When the overwhelming evidence was put before the UK government showing that the UK is a regular source of the e-waste that comes to Africa, particularly Ghana and Nigeria, the UK government admitted in September 2009 that it is unable to stop the practice “because of the exponential surge in volumes of incorrectly classified waste being exported,” according to the Computer Weekly.
It is known that 20 to 50 million tonnes of e-waste are generated in the world annually and a great amount of that ends up in developing countries including Ghana and Nigeria.
Britain is responsible for around 15% of the EU’s total e-waste, which is growing three times faster than any other municipal waste stream.
It is worrying that the UK authorities would treat such matter in the manner that they are doing. It is the responsibility of the EA to make the findings of its investigations, what it might have found public.
Besides, since this situation is almost taking human rights dimensions, it is necessary to know what steps the UK government is taking to halt this inhuman act that is being perpetrated by its citizens on the people of Ghana.
By Emmanuel K. Dogbevi
ghanabusinessnews.com
Official: Ghana suspended from IOC
Ghana has been suspended from the International Olympic Committee (IOC) following a decision taking by its Executive Board Thursday January 13, 2011.
An official statement copied to ghanabusinessnews.com from the media relations department of the IOC confirmed that indeed Ghana has been suspended.
“The Olympic Charter has forced the IOC Executive Board to suspended the NOC of Ghana in order to protect the Olympic Movement in Ghana (pursuant to the applicable rules of the Olympic Charter, in particular Rule 28.9), with all consequences provided for in the Olympic Charter”, the statement said.
According to the statement the IOC has deployed every possible effort in order to help resolve the situation that the National Olympic Committee (NOC) of Ghana has been facing for 18 months and find a long-term solution with all parties concerned.
Giving the reason for the suspension, the IOC said the obvious lack of cooperation of the government authorities in Ghana and lack of respect of the Ghana public authorities’ written commitment to take all necessary actions to revise the sports legislation in Ghana before the end of 2010 in a sense that would allow the NOC and the Olympic Movement in Ghana to operate in full autonomy.
By Ekow Quandzie
ghanabusinessnews.com
An official statement copied to ghanabusinessnews.com from the media relations department of the IOC confirmed that indeed Ghana has been suspended.
“The Olympic Charter has forced the IOC Executive Board to suspended the NOC of Ghana in order to protect the Olympic Movement in Ghana (pursuant to the applicable rules of the Olympic Charter, in particular Rule 28.9), with all consequences provided for in the Olympic Charter”, the statement said.
According to the statement the IOC has deployed every possible effort in order to help resolve the situation that the National Olympic Committee (NOC) of Ghana has been facing for 18 months and find a long-term solution with all parties concerned.
Giving the reason for the suspension, the IOC said the obvious lack of cooperation of the government authorities in Ghana and lack of respect of the Ghana public authorities’ written commitment to take all necessary actions to revise the sports legislation in Ghana before the end of 2010 in a sense that would allow the NOC and the Olympic Movement in Ghana to operate in full autonomy.
By Ekow Quandzie
ghanabusinessnews.com
Ghana to become fastest growing economy in 2011 – World Bank
The World Bank has projected that Ghana would be the fastest growing economy in Sub-Saharan Africa, with growth rate of 13.4 per cent in 2011, dropping to 10 per cent in 2012.
Launching the Bank’s global economic prospects report via a video-conference on Thursday, Mr Andrew Burns, Manager of Global Macroeconomics in the World Bank’s Prospects Group, said Ghana was still in position to register strong economic growth without the oil sector, particularly in construction services as large infrastructure projects were being undertaken.
He said, Ghana’s economy benefited from strong rebound of both volumes and prices of gold and cocoa, increase in tourism, and higher household and government spending last year, with growth rate estimated at 6.6 per cent in 2010.
However, Mr Burns cautioned that if the inflows from the oil sector in Ghana were not managed prudently, it could distort the incentive structure for agricultural exports.
He said developing countries had recovered so fast from the global economic downturn and were now pulling along the high income countries, which was unusual.
The report noted that Africa appeared to have sustained growth and transformation in 2010 and the private sector was increasingly attracting investment into their economies, adding “Africa appears to be poised for sustained growth due to private capital flows.”
The World Bank said most developing countries had in addition, recovered from the world food crisis and had projected a steady global growth for developing countries.
“The world economy is moving from a post-crisis bounce-back phase of the recovery to a slower but solid growth in 2011 and next with developing countries contributing almost half of the global growth,” it said.
It estimated that global GDP, which had expanded by 3.9 per cent in 2010, would slow to 3.3 per cent in 2011, before climbing back to 3.6 per cent in 2012.
The Bank noted that developing countries were expected to grow about seven per cent in 2010, six per cent in 2011, and 6.1 per cent in 2012.
It said the growth rate in developing countries would continue to outstrip growth in high-income countries which were projected to grow at 2.8 per cent in 2010, 2.4 per cent in 2011 and 2.7 per cent in 2012.
The Bank said strong developing-country domestic demand growth was leading the world economy, yet persistent financial problems in some high-income countries were still a threat to economic growth and required urgent policy actions.
Low income countries were projected to be strengthened more with a growth rate of 6.5 per cent in both 2011 and 2012, since their countries saw trade gains in 2010, and overall, their GDP rose by 5.3 per cent in 2010.
According to Mr Burns, the global food prices were having a mixed impact.
He said in many economies, dollar depreciation, improved local conditions, and rising prices for goods and services indicated that the real price of food had not risen as much as the dollar price of internationally traded food commodities.
Source: GNA
Launching the Bank’s global economic prospects report via a video-conference on Thursday, Mr Andrew Burns, Manager of Global Macroeconomics in the World Bank’s Prospects Group, said Ghana was still in position to register strong economic growth without the oil sector, particularly in construction services as large infrastructure projects were being undertaken.
He said, Ghana’s economy benefited from strong rebound of both volumes and prices of gold and cocoa, increase in tourism, and higher household and government spending last year, with growth rate estimated at 6.6 per cent in 2010.
However, Mr Burns cautioned that if the inflows from the oil sector in Ghana were not managed prudently, it could distort the incentive structure for agricultural exports.
He said developing countries had recovered so fast from the global economic downturn and were now pulling along the high income countries, which was unusual.
The report noted that Africa appeared to have sustained growth and transformation in 2010 and the private sector was increasingly attracting investment into their economies, adding “Africa appears to be poised for sustained growth due to private capital flows.”
The World Bank said most developing countries had in addition, recovered from the world food crisis and had projected a steady global growth for developing countries.
“The world economy is moving from a post-crisis bounce-back phase of the recovery to a slower but solid growth in 2011 and next with developing countries contributing almost half of the global growth,” it said.
It estimated that global GDP, which had expanded by 3.9 per cent in 2010, would slow to 3.3 per cent in 2011, before climbing back to 3.6 per cent in 2012.
The Bank noted that developing countries were expected to grow about seven per cent in 2010, six per cent in 2011, and 6.1 per cent in 2012.
It said the growth rate in developing countries would continue to outstrip growth in high-income countries which were projected to grow at 2.8 per cent in 2010, 2.4 per cent in 2011 and 2.7 per cent in 2012.
The Bank said strong developing-country domestic demand growth was leading the world economy, yet persistent financial problems in some high-income countries were still a threat to economic growth and required urgent policy actions.
Low income countries were projected to be strengthened more with a growth rate of 6.5 per cent in both 2011 and 2012, since their countries saw trade gains in 2010, and overall, their GDP rose by 5.3 per cent in 2010.
According to Mr Burns, the global food prices were having a mixed impact.
He said in many economies, dollar depreciation, improved local conditions, and rising prices for goods and services indicated that the real price of food had not risen as much as the dollar price of internationally traded food commodities.
Source: GNA
11 people in court in UK over e-waste dumping in developing countries – EA
The Environment Agency (EA) of the UK, says 11 people have been taken to court as part of its investigation of e-waste exports from Britain to other parts of the world.
Following enquiries by ghanabusinessnews.com regarding the outcome of the EA’s investigation into e-waste dumping into Ghana by some British companies, the EA’s Senior Media Officer Scarlett Elworthy said “I can confirm that the waste case that you are following has gone to court. There was an initial hearing in November 2010 and in total 11 defendants are due back in court later this month.”
According to her “the investigation is part of the biggest investigation ever carried out by the Environment Agency into the illegal export of electrical waste from the UK to developing countries.”
Her response however, did not say anything about the specific case of Ghana.
The eleven people, however she says have been charged with shipping prohibited waste under the Transfrontier Shipment of Waste Regulations 2007 and European Waste Shipment Regulations 2006.
“The law is clear - hazardous waste electricals, including everyday items such as televisions and refrigerators, cannot be sent overseas for recovery or disposal. As well as containing precious metals such as gold, copper and aluminium – electrical waste can also harbour hazardous substances including mercury and lead that are harmful to people and the environment,” she indicates, adding that “there is evidence to suggest that illegally exported electrical waste from the UK is ending up on waste sites in Africa, causing harm to people and the environment.”
According to the EA over six million electrical items, amounting to one million tones, are thrown away in the UK every year.
Half of the 18 investigations the Environment Agency’s National Crime Team is currently conducting into the illegal export of waste are in relation to electrical waste. The remaining nine investigations include the illegal export of tyres and household waste, it added.
By Emmanuel K. Dogbevi
ghanabusinessnews.com
Following enquiries by ghanabusinessnews.com regarding the outcome of the EA’s investigation into e-waste dumping into Ghana by some British companies, the EA’s Senior Media Officer Scarlett Elworthy said “I can confirm that the waste case that you are following has gone to court. There was an initial hearing in November 2010 and in total 11 defendants are due back in court later this month.”
According to her “the investigation is part of the biggest investigation ever carried out by the Environment Agency into the illegal export of electrical waste from the UK to developing countries.”
Her response however, did not say anything about the specific case of Ghana.
The eleven people, however she says have been charged with shipping prohibited waste under the Transfrontier Shipment of Waste Regulations 2007 and European Waste Shipment Regulations 2006.
“The law is clear - hazardous waste electricals, including everyday items such as televisions and refrigerators, cannot be sent overseas for recovery or disposal. As well as containing precious metals such as gold, copper and aluminium – electrical waste can also harbour hazardous substances including mercury and lead that are harmful to people and the environment,” she indicates, adding that “there is evidence to suggest that illegally exported electrical waste from the UK is ending up on waste sites in Africa, causing harm to people and the environment.”
According to the EA over six million electrical items, amounting to one million tones, are thrown away in the UK every year.
Half of the 18 investigations the Environment Agency’s National Crime Team is currently conducting into the illegal export of waste are in relation to electrical waste. The remaining nine investigations include the illegal export of tyres and household waste, it added.
By Emmanuel K. Dogbevi
ghanabusinessnews.com
Ghana prepares for refugees from Ivory Coast crisis with “Operation Quagbo”
Ghana’s Western Regional Coordinating Council has inaugurated an operational team to deal with the influx of refugees that might result from the ongoing political crisis in Ivory Coast, the GNA reports.
The team has been named “Operation Quagbo 2010”. It will receive, screen, register, group, disperse and manage returnees and refugees from Ivory Coast as well as seeing to the overall coordination of the operation.
The Ivory Coast has been in political stand-off following a disputed elections run-off November 28, 2010. The incumbent President Laurent Gbagbo insists he has won the elections and so is his opponent, Alassane Ouattara. The two have been installed as presidents, making the Ivory Coast have two presidents.
The tension has led to riots, and some over 200 people are believed to have been killed and some more than 20,000 have fled to Liberia.
The UN Peace Keeping Force in that country has also come under some attack. The UN force is offering protection to Ouattara who is widely believed by the international community to have won the elections.
The West African regional grouping ECOWAS, which is largely expected to have resolved the matter, in its first attempt, demanded that Gbagbo steps down through peaceful means or be removed out of office with military force. Following that threat, not much has been achieved by ECOWAS despite a series of negotiations, which also involved the African Union (AU).
It is not clear yet how or when the political crisis would be resolved in Ghana’s western neighbour, but it is becoming obvious that Ghana would have to prepare to take in refugees from Ivory Coast, and the country is doing so with the inauguration of this team.
By Emmanuel K. Dogbevi
ghanabusinessnews.com
The team has been named “Operation Quagbo 2010”. It will receive, screen, register, group, disperse and manage returnees and refugees from Ivory Coast as well as seeing to the overall coordination of the operation.
The Ivory Coast has been in political stand-off following a disputed elections run-off November 28, 2010. The incumbent President Laurent Gbagbo insists he has won the elections and so is his opponent, Alassane Ouattara. The two have been installed as presidents, making the Ivory Coast have two presidents.
The tension has led to riots, and some over 200 people are believed to have been killed and some more than 20,000 have fled to Liberia.
The UN Peace Keeping Force in that country has also come under some attack. The UN force is offering protection to Ouattara who is widely believed by the international community to have won the elections.
The West African regional grouping ECOWAS, which is largely expected to have resolved the matter, in its first attempt, demanded that Gbagbo steps down through peaceful means or be removed out of office with military force. Following that threat, not much has been achieved by ECOWAS despite a series of negotiations, which also involved the African Union (AU).
It is not clear yet how or when the political crisis would be resolved in Ghana’s western neighbour, but it is becoming obvious that Ghana would have to prepare to take in refugees from Ivory Coast, and the country is doing so with the inauguration of this team.
By Emmanuel K. Dogbevi
ghanabusinessnews.com
Disappointed Vodafone customer sets up website for complaints
A disappointed customer of the mobile operator Vodafone has taken his complaints a notch higher by setting up a website vodafail.com to encourage all other Vodafone customers to voice out their complaints about the mobile provider’s poor services.
The Australian citizen, Adam Brimo who no longer uses Vodafone’s services, put up the website where customers can post complaints about poor reception, call drops, poor customer service, and delayed voicemail messages among others.
Stating his motivation for the site, he writes “In short I am a disgruntled Vodafone customer after using the service for less than six weeks. After my relentless attempts to contact Vodafone customer support to resolve my issues (the usual dropped calls, no reception, poor battery life and delayed voicemail messages) I have no choice but to create a website to express my dissatisfaction to the world.”
And the site has caught on well, with other disgruntled Vodafone customers worldwide posting their complaints.
The website incorporates twitter feeds as well as drawing complaints from Vodafone users across the world.
The website, has caught the attention of Vodafone officials in Australia leading to a meeting between them and Brimo. At the meeting they expressed appreciation to him for setting up the site as it would help them know what their customers are saying about their services. They also said the site gives them a good idea of the areas with problems. “We’re interested in tapping into it — to see how best we can resolve customer complaints,” they added.
Brimo says after meeting the officials that the site will remain open until customers’ main issues are resolved.
Meanwhile, a law firm, Sydney-based PiperAlderman is looking for disgruntled Vodafone customers to form a class action lawsuit over dropped calls, reception issues and poor data performance.
Source: Emmanuel K. Dogbevi
ghanabusinessnews.com
The Australian citizen, Adam Brimo who no longer uses Vodafone’s services, put up the website where customers can post complaints about poor reception, call drops, poor customer service, and delayed voicemail messages among others.
Stating his motivation for the site, he writes “In short I am a disgruntled Vodafone customer after using the service for less than six weeks. After my relentless attempts to contact Vodafone customer support to resolve my issues (the usual dropped calls, no reception, poor battery life and delayed voicemail messages) I have no choice but to create a website to express my dissatisfaction to the world.”
And the site has caught on well, with other disgruntled Vodafone customers worldwide posting their complaints.
The website incorporates twitter feeds as well as drawing complaints from Vodafone users across the world.
The website, has caught the attention of Vodafone officials in Australia leading to a meeting between them and Brimo. At the meeting they expressed appreciation to him for setting up the site as it would help them know what their customers are saying about their services. They also said the site gives them a good idea of the areas with problems. “We’re interested in tapping into it — to see how best we can resolve customer complaints,” they added.
Brimo says after meeting the officials that the site will remain open until customers’ main issues are resolved.
Meanwhile, a law firm, Sydney-based PiperAlderman is looking for disgruntled Vodafone customers to form a class action lawsuit over dropped calls, reception issues and poor data performance.
Source: Emmanuel K. Dogbevi
ghanabusinessnews.com
Ghana’s Rocky Dawuni nominated for NAACP Image award
Ghana’s reggae superstar, Rocky Dawuni has been nominated for the National Association for the Advancement of Colored People (NAACP) Image award.
Dawuni’s latest album ‘Hymns for the Rebel Soul’ has been nominated for the Outstanding World Music Album.
Since its release in May 2010, “Hymns for the Rebel Soul” has received praise and extensive radio play for various tracks on the album.
Songs on the album such as “African Reggae Fever” and “Download the Revolution” were subsequently featured on EA Sports, “FIFA World Cup” and “FIFA Soccer 2010” video games which have sold millions worldwide.
The 42nd NAACP Image Awards will be held on March 4, 2011 and will be telecast live on the FOX channel.
The NAACP Image Awards has 53 competitive categories in the fields of motion picture, television, recording and literature.
Rocky Dawuni is in the same category with the following artistes: Angelique Kidjo, Herbie Hancock, Michael Franti and Bobby McFerrin.
By Ekow Quandzie
Dawuni’s latest album ‘Hymns for the Rebel Soul’ has been nominated for the Outstanding World Music Album.
Since its release in May 2010, “Hymns for the Rebel Soul” has received praise and extensive radio play for various tracks on the album.
Songs on the album such as “African Reggae Fever” and “Download the Revolution” were subsequently featured on EA Sports, “FIFA World Cup” and “FIFA Soccer 2010” video games which have sold millions worldwide.
The 42nd NAACP Image Awards will be held on March 4, 2011 and will be telecast live on the FOX channel.
The NAACP Image Awards has 53 competitive categories in the fields of motion picture, television, recording and literature.
Rocky Dawuni is in the same category with the following artistes: Angelique Kidjo, Herbie Hancock, Michael Franti and Bobby McFerrin.
By Ekow Quandzie
Ghana maintains FIFA ranking at 16th position
Ghana ended the 2010 football year as the 16th best soccer nation in the world, according to the latest FIFA ranking for the month of December 2010.
According to the rankings posted on FIFA’s website, Ghana scored 924 points as against 908 points in November 2010 maintaining its position in November 2010.
The country, however, placed second in Africa with Egypt ranked at the top scoring 1036 points.
Ghana beats countries like Cote d’Ivoire, Nigeria, Algeria and Cameroon who places third, fourth, fifth and sixth respectively.
Meanwhile, Spain placed first in the world with Netherlands, Germany, Brazil placing second, third and fourth respectively.
By Ekow Quandzie
ghanabusinessnews.com
According to the rankings posted on FIFA’s website, Ghana scored 924 points as against 908 points in November 2010 maintaining its position in November 2010.
The country, however, placed second in Africa with Egypt ranked at the top scoring 1036 points.
Ghana beats countries like Cote d’Ivoire, Nigeria, Algeria and Cameroon who places third, fourth, fifth and sixth respectively.
Meanwhile, Spain placed first in the world with Netherlands, Germany, Brazil placing second, third and fourth respectively.
By Ekow Quandzie
ghanabusinessnews.com
Ghana’s downward trend of inflation rate may halt in January 2011
Ghana’s inflation rate has been sliding down significantly in the last 18 months but Mr. Ebo Duncan, Head of Statistics at the Ghana Statistical Service (GSS) has said this phenomenon may come to a halt following the hikes in fuel prices announced by the National Petroleum Authority (NPA) early January.
Asked whether the downward trend in inflation rate will come to a halt from the beginning of the year, he said it might happen looking at what transpired during January 2010 when inflation was higher than the previous months. He however added, that it depends on how the increase in fuel prices will affect inflation rate since it has an influence in the distribution chain.
Mr Duncan disclosed this at a press conference to announce the December 2010 inflation rate.
“From the fuel prices increase that we have seen over the period, we always see that whenever there is fuel price hikes then inflation rate increases,” he said.
“But you have about 80% to 90% chance that inflation will go up but you can also not rule out that it might come down,” he added.
Ghana’s inflation for the month of December 2010 dropped to 8.58%. The country’s inflation rate at 8.58% becomes the lowest since 1992.
In November 2010, the inflation rate fell to 9.8%.
By Ekow Quandzie
ghanabusinessnews.com
Asked whether the downward trend in inflation rate will come to a halt from the beginning of the year, he said it might happen looking at what transpired during January 2010 when inflation was higher than the previous months. He however added, that it depends on how the increase in fuel prices will affect inflation rate since it has an influence in the distribution chain.
Mr Duncan disclosed this at a press conference to announce the December 2010 inflation rate.
“From the fuel prices increase that we have seen over the period, we always see that whenever there is fuel price hikes then inflation rate increases,” he said.
“But you have about 80% to 90% chance that inflation will go up but you can also not rule out that it might come down,” he added.
Ghana’s inflation for the month of December 2010 dropped to 8.58%. The country’s inflation rate at 8.58% becomes the lowest since 1992.
In November 2010, the inflation rate fell to 9.8%.
By Ekow Quandzie
ghanabusinessnews.com
Arik Air to expand operations in Ghana
Arik Air entered Ghana’s booming aviation sector in 2008. After enjoying a steady growth, the Nigerian owned passenger airline intends to expand its operations in the country.
Mr Trevor Henry, Country Manager of Arik Air said during a media interaction in Accra Friday January 14, 2011 that the airline has taken delivery of a brand new Airbus 330-200 aircraft which is the first of its kind to help facilitate passenger’s movements frequently and safely.
Mr Trevor said the airline has launched its sixth route in the West African sub-region between Lagos and Monrovia from Accra adding “the airline has introduced a state-of-the-art Operations Control Centre (OCC) making it the second airline in the world and first in Africa to have such equipment”.
He said the airline now flies twice daily during during the week from Accra to Abuja-Lagos and two times during weekends.
Highlighting on some achievements of the airline, Mr Keelan Morris, Corporate Communications Manager said the company won the best security conscious airline of the year at the international security conference and awards in 2010.
Mr Morris added that the topmost priority of the airline is providing safety to all its stakeholders especially its clients.
He hinted that since Ghana has discovered oil, it’s planning to collaborate with companies in the oil industry to airlift people to the oil city in the western region.
Operating with 26 aircraft, Arik Air flies in most Nigerian states, Accra, Monrovia, Freetown, Dakar, Cotonou and Banjul in West Africa.
The airline also flies on the following international routes, London, New York and Johannesburg.
By Ekow Quandzie
ghanabusinessnews.com
Mr Trevor Henry, Country Manager of Arik Air said during a media interaction in Accra Friday January 14, 2011 that the airline has taken delivery of a brand new Airbus 330-200 aircraft which is the first of its kind to help facilitate passenger’s movements frequently and safely.
Mr Trevor said the airline has launched its sixth route in the West African sub-region between Lagos and Monrovia from Accra adding “the airline has introduced a state-of-the-art Operations Control Centre (OCC) making it the second airline in the world and first in Africa to have such equipment”.
He said the airline now flies twice daily during during the week from Accra to Abuja-Lagos and two times during weekends.
Highlighting on some achievements of the airline, Mr Keelan Morris, Corporate Communications Manager said the company won the best security conscious airline of the year at the international security conference and awards in 2010.
Mr Morris added that the topmost priority of the airline is providing safety to all its stakeholders especially its clients.
He hinted that since Ghana has discovered oil, it’s planning to collaborate with companies in the oil industry to airlift people to the oil city in the western region.
Operating with 26 aircraft, Arik Air flies in most Nigerian states, Accra, Monrovia, Freetown, Dakar, Cotonou and Banjul in West Africa.
The airline also flies on the following international routes, London, New York and Johannesburg.
By Ekow Quandzie
ghanabusinessnews.com
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