Oil spillage pollutes Ghana’s Axim coastline

A long stretch of the coastline at Axim in the Western Region has been inundated with heavy oil spillage, known as tar balls, as a result of the increase in vessel traffic in the country’s waters.

The substance is not the country’s sweet crude currently being produced offshore at the Jubilee Fields but heavy waste oil from vessels that supposedly visit the country’s ports for commercial or supply services.

At the moment, the Ghana Maritime Authority (GMA) is yet to identify the par­ticular vessels that continuously discharge the waste oil into the country’s waters.

The inhabitants of three communities in the Axim municipality – Amanfukumam, Akyinim and Brawire – who are mainly fishermen cannot use their beaches as a result of the situation.

However, the Western Regional Manager of Zoomlion, Mr Gershon Sogbey, and a team from the Eco Brigade have moved in to clean portions of the beach to enable the fishermen and the community to use it.

Mr Sogbey told the Daily Graphic that the team had managed to clean most of the affected areas, especially the place the fish­er folk could use for their trade.

He said his outfit was very vigilant and proactive and would ensure that the affected areas were cleared in order not to affect the activities of fishermen.

When contacted, officials of the Environ­mental Protection Agency said they had vis­ited the area and taken samples of the sub­stance for examination.


Source: Daily Graphic

Ghana’s first oil production expenditure within original budget – Tullow

The first commercial oil produced from Ghana’s Jubilee field was within budget, says Tullow Oil.

According to Tullow Oil the first successful oil production which was achieved on schedule within 40 months of discovery was also within estimated budget.

Commenting, Tullow Oil’s CEO, Aiden Heavey said “In 2010 we achieved exceptional exploration success and together with our partners delivered ‘First Oil’ on schedule in Ghana by year-end,  and was within its original budget.”

According to the UK oil and gas explorer which owns majority share in Ghana’s Jubilee oil field, the largest oil field to be discovered in West Africa in the last 10 to 15 years, the final cost of the first oil production is “expected to be within 10% of the original $3.1 billion budget.”

This was revealed in Tullow Oil’s trading statement and operational update published January 27, 2011 on its website.

According to the statement, Tullow is expecting a full production capacity of 120,000 barrels of oil per day in the next six months.

“Current gross production is around 50,000 bopd from four wells and full production capacity of 120,000 bopd is expected to be reached within six months as the remaining five production wells are completed and brought on stream”, it said.

Production of oil from the Phase 1 development of the Jubilee field was inaugurated by the President J. E. A. Mills of Ghana in a First Oil ceremony on December 15, 2010.

After lifting the first 650,000 barrel cargo Jubilee crude oil on January 5, 2011, Tullow said a water injection to two wells which is currently 75,000 barrels of water per day and a further four water injection wells will be completed during 2011 to maintain production levels.

The statement however said a gas compression commissioning on the FPSO commenced in January with gas injection to the reservoir is scheduled to start in February 2011.

To help maintain field production levels and develop further reserves, Tullow is planning work for Phase 1a, of the Jubilee fields to comprise between five and eight infill wells which started in fourth quarter 2010 adding “It is anticipated that the investment decision will be made in third quarter 2011 following analysis of reservoir performance and submission of plans to the Government of Ghana.”

“A Declaration of Commerciality for the Mahogany-East discovery (previously known as “Southeast Jubilee”) was submitted by the Operator of the West Cape Three Points licence, in September 2010 and a Plan of Development is currently being prepared.”

The statement added that “The development of the Mahogany-East reservoirs, which are extensive but generally thinner than in the main Jubilee reservoirs, will be either a standalone development or a tie-back to the existing Jubilee field subsea infrastructure.”

Tullow however hinted that it is planning a secondary listing on the Ghana Stock Exchange.
In November 2010, Tullow announced that in order to create a more accessible opportunity for Ghanaian individuals and institutions to invest in the future of the oil industry.

“Originally planned for December, the Listing has been postponed due to the requirement over that period to focus on First Oil from the Jubilee field and year-end corporate planning”, Tullow said.


By Ekow Quandzie
ghanabusinessnews.com

Ghana attains 75% mobile phone penetration end of 2010

The number of people using mobile phones in Ghana has hit 75% of the country’s estimated 23 million population.

According to statistics on the website of the industry regulator, the National Communications Authority (NCA), the total number of mobile phone subscribers in Ghana is over 17.4 million at December end 2010. It puts the figure specifically at 17, 436, 949 subscribers which is an increase of 2.2% from the November figure of 17,062,917. And the 2.2% increase in subscriber rates in the month of December is the highest increase in the entire year 2010.

The five of the six licensed mobile phone companies in the country share the subscribers. These are Expresso, 239, 815; Tigo, 3, 999, 262, MTN which has the largest market share has 8, 721,249; Vodafone, 2,722,364; and Airtel, 1,754,259.  The sixth provider, Glo is yet to start operations.

This growth is notwithstanding the fact that the introduction of compulsory SIM registration, which became effective on July 1, 2010, was expected to result in much weaker mobile customer growth in 2010, compared with 2009.

The SIM registeration is also expected to result in the widespread deduction of inactive and unregistered mobile customers by the operators.

Landline or fixed network subscriptions on the other have dropped significantly during the same period.

The two companies offering landlines, Vodafone and Airtel recorded a total of 277,897 subscribers. This is a decline of 13.5% from the month of November total of 321,349 fixed lines.


Source: ghanabusinessnews.com

NCA terminates 3,469 fraud numbers on AIRTEL in January 2011

Mr. Haruna Iddrisu, Minister for Communication, on Tuesday said in the first twenty days of the 2011, 3,469 fraud numbers, 95 per cent of total fraud numbers, were terminated on AIRTEL’s network.

Mr Iddrisu who was answering questions on the floor of Parliament noted however that the total number of fraudulent SIM cards had reduced from 12, 440 in October 2010 to 3,506 as of 20 January 2011.

He said notwithstanding the National Communication Authority’s (NCA) success in reducing fraud on the network, it was still alarming that AIRTEL was still recording fraudulent numbers on its network.

The NCA has accordingly been instructed to assist AIRTEL to remedy the situation.

Mr Iddrisu said the situation was made known after a study carried out by the NCA for the period between June 2010 and January 2011.

He said the study showed that Kasapa was the only network that had recorded fewer fraudulent numbers-only three cases in June 2010 and one case in January 2011.

He said all the other networks including; MTN, AITEL, TIGO and VODAFONE, have recorded fluctuating escalating fraudulent numbers in the same period.

Mr Iddrisu said October 2010 recorded the highest fraudulent numbers of 12,440 with VODAFONE having the highest of 8,010 numbers followed by AIRTEL (formally ZAIN) with 4,241, MTN with 85, TIGO 13 and Kasapa-zero.

He said from January 1 to 20 2011, a total of 3,506 fraudulent networks was recorded with AIRTEL recording 3,469 followed by VODAFONE (24), TIGO
(10), MTN (2) and Kasapa (1).

Mr Haruna said the escalating fraudulent numbers on the networks of the telecom operators constituted loss of revenue to the companies and to government.

He said anti-fraud exercise of the NCA had also led to the arrest of two illegal operators and the seizure of 8,792 SIM cards which if they were still in use will lead to an estimated revenue loss of $500,000 per month, with government losing up to 100,000 per month in tax/levy collection.

He said in June 2009, Cabinet granted approval for the implementation of a Call Verification system in Ghana to address fraud and other by-pass mechanism employed by telecommunication operators in the termination of in-bound international telephone traffic and also enhance tax revenue to government.

He said the project was implemented by the NCA and its partners; Global Voice Group of South Africa, adding that to facilitate the implementation of the project, the Electronic communications 2008, (Act 775) was amended by Parliament in December 2009 by the passage of the Electronic Communications (Amendment) Act 2009 (Act 786) to give effect to the government policy.

He said the NCA commenced the installation of the intelligence signaling management system (SIM Box Fraud Detection Tool) to verify the Call Data Records of the networks of the telecom operators.

Mr Iddrisu said the Electronic Communication Act was amended to empower the NCA to establish mechanisms and institute measures to monitor compliance with this section and may in this regard carry out inspections and request any relevant information from a network operator.

He said the installation exercise was stalled as a result of a court action initiated in July 2010 by the Alliance for Accountable Government seeking relief that exercise will not intrude into their private conversations.

After appreciating the need to eliminate illegal SIM Box termination in the country, AFAG graciously withdrew the court action.

Mr Iddrisu noted however that three other Ghanaian citizens subsequently filed another action in court and it was this that stalled the installation of anti-fraud equipment, adding that the matter was still pending before the law court.

He said the NCA was currently relying on voluntary declaration of call volumes to invoice telecom operators for payment of government’s portion of termination rate as provided in the law.

He said within six months of implementation ending December 2010 and relying on voluntary submission of call Data records, the revenue generated as Non-Tax revenue contribution to the government stood at about 30 million dollars.

Mr Iddrisu noted that the NCA was continuing with its anti-fraud monitoring responsibilities and reports at two-hourly intervals to the telecom operators, fraud numbers detected on their networks so that these will be immediately disconnected to prevent usage, adding that until the verification equipment was completed on the networks, this action cannot be authenticated.

The Minister said that NCA had successfully installed and tested the equipment in various designated locations.

These include; Graphic Road Base station, Kumasi Nhyiase for MTN, while ZAIN has completed installation at North Ridge, and Spintex Road as well as the main Zain site in Kumasi. TIGO  and Vodafone have not yet started installation.


Source: GNA

Ghana tops Africa in latest FIFA rankings

World Cup quarterfinalist, Ghana is now leading the African continent in the latest FIFA rankings.

According to the rankings released in Zurich today February 2, 2011, Ghana gained 16 points scoring 940 points as against 924 in December 2010.

In the last FIFA rankings, Ghana placed second in Africa and 16th in the world.

In the overall rankings, Ghana moved up by a spot securing the 15th position making the country occupy the number one spot in Africa.

African champion Egypt fell from the top spot in Africa to the place third whiles Cote d’Ivoire placed second at 33 and 26 respectively in the overall rankings.

Surprisingly, Burkina Faso ranked 5th beating nations like Cameroon, Guinea and South Africa.

Nigeria was fourth in Africa and No. 40 in the world.

There was o African country in the overall top ten.

Meanwhile world cup winner Spain still leads the FIFA rankings followed by Netherlands, Germany, Brazil, Argentina and England placing 2nd, 3rd, 4th , 5th  and 6th respectively.


By Ekow Quandzie
ghanabusinessnews.com

Digital migration challenging in Africa – Spio-Garbrah

The Chief Executive Officer (CEO) of the Commonwealth Telecommunications Organization (CTO), Dr. Ekwow Spio-Garbrah has said that it will be difficult for the African continent to embrace the digital switchover from analogue to digital technologies.

Speaking about the challenges faced by African countries in their digital switchover strategy, Dr Spio-Garbrah said “The migration from analogue to digital technologies can be a challenging one for a continent as large as Africa”.

“While these are challenges that is not new to any country that has gone through a digital switchover, in Africa if the digital switchover if successful, would address it’s socio-economic developmental needs, thereby bringing it closer to the Millennium Development Goals (MDGs)”, Dr Ekwow Spio-Garbrah said.

His remarks come ahead of the CTO’s conference to examine progress in Digital Migration in Africa which will be held in Johannesburg from February 1-3, 2011.

He was optimistic that best practices from ‘digital-ready’ countries can help alleviate some of the challenges to be faced by the continent during the migration.

Meanwhile the Ghana government has rolled-out a three-year national digital timetable to achieve a cost-effective and timely migration from analogue to digital broadcasting.

The Ministry of Communication has directed the setting up of a National Digital Migration Implementation body by the end of January 2011 and issuance of licence for digital television until the end of 2014.

Other aspects of the migration plan includes a nationwide roll-out of digital television to commence in April 2011 till 2013; phased analogue switch-off to be determined by the implementation committee; completion of switchover on the target date of December 2014 and appraisal of the switchover process to be undertaken within six months after the completion.

Over one hundred broadcasting experts and ICT leaders across Africa including Ghana are currently in Johannesburg, South Africa, deliberating on the progress made in the switch over from analogue to digital broadcasting in Africa.

Organised by the London-based Commonwealth Telecommunication’s Organisation (CTO)  the conference will seek to address issues of policy and regulation, the adoption of the new European standard BVB-T2, funding mechanisms, technology, international frequency planning, the Digital Dividend, among others.

Ghana’s Communications Minister, Haruna Iddrissu in an interview with Joy FM monitored by ghanabusinessnews.com, said the International Telecommunications Union (ITU) has set June 2015 as the deadline for migration from analogue to digital radio and television broadcasting adding, “As a member of the Union, Ghana has an obligation and responsibility to facilitate that process and has set herself a deadline of December 2014 to complete that process.”

Mr Iddrissu said this will improve both picture and sound quality in broadcasting.
Digitization of broadcasting is the application of digital techniques to encode audio and video signals and transmit digital data rather than analogue waveforms on networks to consumers.

The project on completion would support mobile reception of video, internet and multimedia data, making applications, services and information accessible and usable anywhere and at any time.

In 2009, Ghana is said to be one of the first countries that accepted the challenge to migrate all existing analogue broadcasting equipment to digital.

The migration started with the national broadcaster, the Ghana Broadcasting Corporation (GBC).
Ghana is also expected to present a report on the experiences of the migration at the conference.

The report is expected to focus on challenges and maximizing opportunities for a successful transition, the role of Geosynchronous Satellites and local content strategies.


By Ekow Quandzie
ghanabusinessnews.com

Vodafone accuses Egyptian authorities for using network to send pro-government messages

Telecommunications giant, Vodafone says it is unhappy that Egyptian authorities have used its network to send messages to people believed to be supporters of the Hosni Mubarak government.

“Vodafone has accused the Egyptian authorities of using its network to send unattributed text messages supporting the government”, the BBC has reported.

According to the report on February 3, 2011, Vodafone was told to switch off services last week when protests against President Hosni Mubarak began but the authorities then ordered Vodafone to switch the network back on, in order to send messages under Egypt’s emergency laws, the firm said.

Citing a statement from Vodafone, the BBC said the firm describes the messages as “unacceptable”.

“These messages are not scripted by any of the mobile network operators and we do not have the ability to respond to the authorities on their content”, the statement said.

Mobile phones have played a big part in the ongoing  Egyptian protests.


By Ekow Quandzie
ghanabusinessnews.com

Ghana selected to stage Bob Marley’s official documentary

Ghana has been selected among five other countries including Japan, United Kingdom, Jamaica and the United States to stage a documentary about the legendary Bob Marley.

Titled ‘Marley’, the documentary is about the life, legacy and global impact of Bob Marley’s life and works.

Considered a true legend, Bob is one of the most influential singers, songwriters, musicians and activists in history as well as famous Jamaican singer and songwriter.

The “Filming is taking place as far afield as Ghana, Japan and the UK, in addition to his beloved Jamaica and the States”, film website, ComingSoon.net has said on February 2, 2011.

The documentary will be directed by Kevin Macdonald, one of the most accomplished documentary and feature filmmakers of a new generation, the website said.

It says Macdonald will join the Marley family, Chris Blackwell and Steve Bing to direct what will be the ultimate and authorized documentary film on the life of the true legend and one most influential activist in history.

Kevin Macdonald recently completed shooting his upcoming multi-million dollar focus features production called “The Eagle”. He was also the director of the famous “The Last King of Scotland” movie.

“When completed, ‘Marley’ will be the first time ever that his family has authorized the use of their own private Bob Marley archives,” it indicates.

The film will receive a world wide theatrical release in the third quarter of 2011, during the 30th anniversary year after Bob Marley passed away in 1981.

The film is been produced by Tuff Gong Pictures and Shangri-La Entertainment in association with Cowboy Films.

Steve Bing, Chris Blackwell and Ziggy Marley are the Executive producers.

Generally credited as having popularized reggae music on a global scale, Bob Marley was the lead singer and guitarist of The Wailers from 1974 up until his death in 1981.

His biggest hits include tunes like “No Woman, No Cry,” “Jamming,” “I Shot the Sheriff,” and the posthumous release “Buffalo Soldiers” (among several others).

His compilation album, Legend (also released following Marley’s death from skin cancer at age 36) remains the best-selling reggae album to date, according to the site.


By Ekow Quandzie
ghanabusinessnews.com

Government to renew all TV licences during digital migration period

The Minister for Communications, Mr Haruna Iddrissu has hinted that government will soon renew all Television (TV) licences in the country during the digital migration period which is expected to be completed in December 2014.

This means that all operating television stations like GTV, TV3, Metro TV and others such as TV Africa, Net 2 TV, Viasat 1 that have been licenced to operate in analogue must renew their licence before they will be allowed to migrate to the digital switchover.

Mr Haruna Iddrissu said even those granted digital TV licences would have them renewed during the migration period.

“For the 2011 period, we are going to embark on a public education to raise awareness and create consciousness in the Ghanaian public to undertake this important national exercise and to renew and grant digital television licences”, said Mr Iddrissu in a interview with Joy FM monitored by ghanabusinessnews.com on February 1, 2011.

“My understanding is that subject to the payment of appropriate fees all existing television networks will automatically have their licences renewed provided they demonstrate to the national regulator appropriate infrastructure and update technology that will drive the process”, the Minister added.

He was optimistic that these television operators “certainly will do so because it is in their interest to go digital” which will improve their sound and picture quality.

Mr Iddrissu said that he is looking forward to the situation where Ghanaians can have access to the internet via television.

He indicated that in some few years to come there will be no need to rely on a “bamboo stick” in order to enable you access television as experienced in some areas in the Central and Western regions as well as other parts of the Volta region of the country.

He said the country needs to build a solid infrastructural base which will begin this year with the construction of some regional transmitters and also to critically look at the transmission network of Ghana Broadcasting Corporation to see how other networks can leverage on that existing infrastructure to improve upon broadcasting in general.

He therefore urged financial institutions to assist the TV stations in the switchover to beat the deadline because it involves lots of  investment and the industry is profitable.

Deliberating on the e-Governance project, the Minister said the project was in two levels; “We have the World Bank $40million e-Governance project and e-Ghana project which is been executed by Wire-way Technologies of China to increase transparency and efficiency.”


By Ekow Quandzie
ghanabusinessnews.com

Ghana to construct warehousing facilities for Jubilee’s FPSO

The Ghana Shipper’s Authority (GSA) says it will construct some warehousing facilities for the Floating Production Storage and Offloading (FPSO) Vessel on the Jubilee oil field.

According to the GSA, these warehousing facilities will serve as storage facilities for logistics needed by the oil companies working at Ghana’s largest oil field.

This was made known on a GTV show the “Business Advocate” by Mr Kofi Mbiah, Chief Executive Officer (CEO) of the GSA and monitored by ghanabusinessnews.com.

He said since the FPSO is 64km offshore deep into the sea, there is a need to create this platform for the oil companies.

“We have acquired a 30-acre land in Takoradi and we are putting up warehouses on these lands to ensure that they will create the logistic facility which will be needed to be used by the oil companies so they can reach the FPSO platform with goods as and when they are needed,” Mr Mbiah said.

According to him, since the FPSO is far from land and a ‘mini-city’, things like water will be needed to replenish or restock after drilling of oil, safety clothing and other logistics will also be required.

With its joint venture partners in the US, the CEO said the facilities will be constructed by the Takoradi Steel Company (TSC) in February this year.

He also hinted that the Authority has plans of “Putting up other warehousing facilities and also provide other offshore facilities, by creating a shore-base facility that can support the FPSO onshore since the process of drilling oil is about valves and pipes.”

The FPSO is used to drill oil at the Jubilee oil field. It was used to produce Ghana’s first commercial oil December 15, 2010.


By Ekow Quandzie
ghanabusinessnews.com

FIFA rejects Amos Adamu’s appeal

World soccer governing body, Federation of International Football Association (FIFA) has rejected Amos Adamu’s appeal after suspension, the Reuters news wire has reported.

Amos Adamu a former Nigerian sports minister, who was found guilty of bribery and breaching ethics guidelines in the cash-for-votes scandal ahead of the decision on the 2018 and 2022 World Cup hosts, is banned for three years by FIFA.

Tahiti’s Reynald Temarii is also suspended for a year, the news wire reported.
This means that both Amos Adamu and Reynold Temarii are suspended from FIFA’s executive committee and are also banned from all soccer-related activity

The appeals committee verdicts came after it heard all five cases at FIFA headquarters on Wednesday and Thursday.


By Ekow Quandzie
ghanabusinessnews.com

Ghana losing out on potential of GH¢5b salt industry

Salt is a renewable natural resource which contributes over GH¢5 billion annually to Ghana’s economy and employs over 1000 people, but Ghana is losing out on the potential of the salt industry.

The production of salt in Ghana started in the 19th century and it is the major economic activity of the people of Ada in the Dangme East District of the Greater Accra Region.

In an interview with the Head of Administration of the Songor Salt Project, a government-owned salt processing company, Mr. Alfred Adjonyoh, he said “the salt industry in the country is not conducive”. This is because “there is no common platform and common policy regarding pricing”.

The Songor Salt Project, though, has the potential of producing 150,000 tons of salt annually, it currently produces only 60,000 tons of salt, a slight increase in last year’s 46,000 tons. This forms 10% of the potential of the project which stands at 1.4 million metric tons of salt annually. The country could earn over GH¢4 billion annually when it produces salt at its full capacity.

This under-utilized potential of the Songor Salt Project was revealed during a field trip by Ghanaian and Ugandan journalists as part of the Media Training Programme organized by the Revenue Watch Institute and Thomson Reuters Foundation on January 27, 2011.

The Songor Salt Project produces salt to feed neigbouring countries including Togo, Benin, Burkina Faso, Cote d’Ivoire and Niger. The market in Nigeria which at the moment is the largest has been captured by Brazil due to its high quality of salt. The reason Ghana cannot compete with Brazil is not far-fetched. The country lacks the basic infrastructure to refine its salt and to increase production to meet market demands.

Mr. Adjonyoh estimated that the Songor Salt Project has an infrastructure gap of at least $1 million. This amount is needed to among other things reconstruct dikes, construct roads for easy accessibility and procure heavy duty equipment.

The salt industry employs more than 1,000 people, almost the population of Ada, who produce salt on small scale using rudimentary technologies like rake and broken calabash to gather salt. The local people without any form of business capital support are compelled to produce as low as 15 bags per day. Regardless of low production, salt produced by the local people is also exported to neigbouring countries including Togo, Benin, Burkina Faso and Cote d’Ivoire. Most of their customers are also in the Northern Regions and in Kumasi.

It is against the backdrop of these inherent challenges that Mr. Albert Adinortey Apetorgbor, a vibrant community activist, advocated for the bringing together of splintered and scattered producers under cooperatives. This will enable increased production and good market price due to the ability to access loans from banks for business expansion.

It is important to stress that “white gold” is the only renewable natural resource that could enhance the livelihoods of generations. It is as such imperative that government steps in to increase and enhance local production. Salt contributes more than 70% of internally generated funds (IGFs) of the Dangme East District Assembly.

There is no development plan to guide the salt industry and it is not regulated. Mr. Francis Azinah-Koluedor, an experienced local producer asserted that “the environmental concerns are there, but we close our eyes on it”. This glaring revelation gives the indication that there is no blueprint for ensuring sustainable and healthy salt winning industry at the local level in the country.

It is seemingly the case that the salt industry is not of priority to governments because of its meager contribution to GDP. But the salt industry creates large employment and provides capital for other economic activities like farming and fishing. It is significant that the Ministry of Lands and Natural Resources develops the salt industry to complement the contributions of natural resources to poverty reduction.


Source: ghanabusinessnews.com

Ghana’s grain production grew by 6% in 2010 – Ahwoi

The Ministry of Food and Agriculture says in 2010, grain production in the agricultural sector grew by 6% as compared to previous years.

Given the breakdown, the Food and Agricultural Minister, Mr Kwesi Ahwoi said, in 2010 rice production grew by 28.9 per cent, sorghum by 8 percent as well as 10 per cent increase of production in maize.

When asked whether this growth of 6 percent was true, the Minister said “it is very true; as a matter of fact rice grew by 29.8 per cent, sorghum by 8 percent and maize by 10 per cent.”

Speaking on TV Africa programme “Bare Facts” monitored by ghanabusinessnews.com last Tuesday February 1, 2011,

Mr Ahwoi said “If we can produce rice in one year with an output of 30% growth, then when we give ourselves a little time and continue with the programme, there is no reason why Ghana cannot be self-sufficient in rice and grain production or cannot cut down the foreign exchange spending for importation of rice”.

He added that the market situation confirms that the figures are real in the sense that prices have not increased astronomically citing the example that maize prices per 100kgm a bag in a major maize grown area like Techiman of the Brong Ahafo Region have not gone beyond GH₵50 as compared to three years ago when it was between GH₵80 and GH₵90 but have stabilized at GH₵50 and below adding that “This indicates that there is enough food on the market”.

Stating what has contributed to this growth, Mr Ahwoi said, government has established the Buffer Stock Company that has offered farmers the minimum guarantee price at which it will take the farmer’s produce if the market refuses to buy at the normal reasonable market price.

The Minister also said apart from marketing farm produce, good irrigation system and better seedlings, the introduction of the Youth in Agriculture Programme whereby 80,000 youth have been enrolled on the program to increase agric output as well as subsidy on fertilizers have also contributed immensely to this growth.

He said government is subsidizing fertilizer by 50% and this has “Increased the production of cocoa from 150,000 tonnes in 1953 to 700,000 tonnes in 2010 and hopefully a million tonnes in the coming year.”

Talking about funding for the agricultural sector, Mr Ahwoi said currently government has prepared a Bill ready to submit to parliament for approval which will set up the Agricultural Development Fund this year which has already been incorporated into the 2011 budget.

He said when this Fund comes into being, farmers and other agric-business, individuals can access the fund through their bankers. He however cautioned them to pay after they have borrowed the money or else they will lose the chance of getting another support from the fund.


By Ekow Quandzie
 ghanabusinessnews.com