Ghana now net exporter of electricity – President

Accra- Government has ensured reliable, quality, affordable and adequate power supply over the last 21 months, placing Ghana as a net exporter of electricity in the West African economic bloc, President Nana Addo Dankwa Akufo-Addo has said.

Speaking at the Financial Times Africa Summit, in London, on Monday, he said his government, over the same period, brought down tariff rates, with domestic consumers enjoying reductions of up to 17.5%, and a 30% reduction for industry to stimulate industrial activity for accelerated development.

President Akufo-Addo told the gathering that his administration had reviewed some 24 power purchase agreements, which has led to the termination of 11 power deals and the rescheduling of 8 others, resulting in government treasury savings of about $7 billion in excess capacity charges over a 13-year contract period.

His government, he told the forum, has issued 7-year and 10-year cedi-denominated bonds, totalling GH4.7 billion, which have halved the $2.4 billion energy debt it inherited.

Ghana, as a result, is today a net exporter of electricity. I was in Ouagadougou, capital of Burkina Faso, last Friday, for the inauguration, with the President of Faso, His Excellency Roch Marc Christian Kabore, of the Bolgatanga (capital of Ghana’s Upper East Region) to Ouagadougou Power Interconnection Project, which will see, daily, up to 100 megawatts of power supplied directly to Burkina Faso from Ghana, he added.

The President indicated further that, Ghana today had the best opportunity, since independence, to undertake a deliberate and meaningful transformation of her economic structure, and set it on the road to modern development.

He pointed out that as a relatively new entrant in the league of oil-producing countries, Ghana had the perfect occasion to transform the structure of her economy through industrial and value-added commercial activities.

We are determined to use our oil revenues to create assets, not waste it on consumption and accumulate debt, he said.

President Akufo-Addo told the forum of his government’s desire to developing strategic industries out of Ghana’s abundant natural resources of bauxite and iron ore.

We have established, by statute two months ago, a public commercial corporation, the Ghana Integrated Bauxite/Aluminium Development Corporation, to assemble the relevant financial resources for the full exploitation and development of the entire value chain, in Ghana, of our large bauxite deposits, he said.

The President pointed out that Ghana had decided to draw on its substantial iron ore and manganese deposits, situated in the Western and Northern regions of the country, to build an integrated steel industry to serve the needs of our country and region.

“We are seeking suitable partners for both ventures, he said, assuring the right climate for business growth and development.

Source: Ghana News Agency

Driver remanded over car snatching

Accra, Abdul Karim, a driver who allegedly snatched a Kia Picanto Taxi from its driver at the Kokorobite Aglow farms area and bolted, has been nabbed and put before an Accra Circuit Court.

Karim’s accomplice Ibrahim Moro is, however, at large, but they have been jointly charged with conspiracy to commit crime.

Karim is facing an additional charge of robbery. He pleaded not guilty to the two charges.

The court presided over by Ms Ruby Aryeetey, has remanded him into Police custody to reappear on October 22.

Prosecuting Deputy Superintendent of Police (DSP) Mawunyo Nanegbe said the complainant Mr Albert Aidoo is a driver residing at Old Weija Barrier and Karim resides at Bortianor in Accra.

DSP Nanegbe said on July 24, this year at about midnight, Mr Aidoo, driving his taxi with registration number GW 9065-18 was hired by Karim and his accomplice Moro from a place called Choice at Old Barrier to Kokorobite Aglow farms.

On their way, Prosecution said Moro pulled a kitchen knife and ordered the complainant to surrender his car and get out of the vehicle.

According to prosecution Moro, who was then seated behind the complainant, held the complainant’s neck and he tried removing the ignition key.

Prosecution said Karim them pushed the complainant out of his car.

The complainant, as a result left behind his daily sales of GH300, a driver’s license, Voter ID card, a Samsung Mobile phone and other valuables in the car.

DSP Nanegbe said the complainant lodge a complaint with the Police at Kokrobite and a wireless messages were sent across the country.

On July 30, this year, Karim was arrested when he and his accomplice tried selling the stolen vehicle at Techiman in the Brong Ahafo Region.

Prosecution said Karim in his caution statement admitted the offence and mentioned Moro as his accomplice.

Later Karim was handed over to the Anti-Armed Robbery Squad at the Criminal Investigations Department of the Ghana Police Service.

According to prosecution efforts are ongoing to arrest Moro.

Source: Ghana News Agency

Man remanded for defiling 12-year old girl

Accra A 38-year old driver, accused of having sex with a 12-year old girl at Kwabenya, has appeared before an Accra Circuit Court charged with defilement.

Kwarteng Mensah Forson, aka Bra. Kofi, has however denied the charge.

This was after his lawyer, Mr Edward Oppong, had prayed bail for Forson.

The Court presided over by Mrs Rita Abrokwa Doko admitted Forson to bail in the sum of GH20,000 with three sureties.

He is to report to the investigator at Madina Police Station every two weeks.

Forson is expected to reappear on October 28.

Prosecuting Assistant Superintendent of Police (ASP) Agnes Boafo said the complainant, a trader who is an aunty of the victim resides at Kwabenya, in Accra with the victim, whilst Forson was a water supplier, and resides in the same vicinity.

ASP Boafo said the victim and one other girl run errands for the accused and they sometimes go and watch television in Forson’s room.

According to prosecution, the victim who does not attend school regularly, sometimes go to accused person’s room to watch television.

About a month ago, ASP Boafo said the victim went to watch television in Forson’s room and after the victim sat down for some time, Forson asked her to fix the plug to his fan for him.

In the process of fixing the plug, prosecution said Forson pulled the victim to lie on his mattress and he had sex with her.

Prosecution said after the act, Forson warned the victim not to inform anyone. The victim later fell ill and when confronted, narrated her ordeal to the aunty, who in turn reported the incident to the Police.

The Police issued a medical report form to the complainant to seek medical care and Forson was arrested.

Source: Ghana News Agency

Akua is the Brand Ambassador for Omama Royal Chocolate

Accra, Sally Akua Amoakowaa Mensah, media personality and former winner of Ghana’s Most Beautiful, has been unveiled, as the Brand Ambassador for a new local food product Omama Royal Chocolate.

The 2011 winner of TV3’s Ghana’s Most Beautiful pageant, popularly called Akua, would be the face of the new food product for an unspecified duration.

Akua was unveiled at the launch of Omama Royal Chocolate at the Trade Fair Center in Accra.

She said she was happy for her latest role adding that she would do everything possible to market the product by using her image.

Omama Royal Chocolate, made from 100 percent premium Ghana cocoa is first non-clothing produced from Nayak Afrik.

Nayak Afrik is known over the years for its quality in fabrics and fashion, and the company has said the same quality in product is expected to be the mark of the new chocolate product.

Mrs Rashidatu Rashida Danso, Executive Director at Nayak Afrik noted that, the company was proud to be contributing to the growth of Ghana’s economy by adding value to local raw material before exporting.

She said this was in support of the government’s vision to increase local production and revenue generation in the country as well as promote Ghana to the world.

Mrs. Danso said, the chocolate would be sold on the local market as well as on the international market.

She said the Omama Royal Chocolate was made from the finest Ghanaian Cocoa, and comes in various sizes and flavours (Omama Royal Milk Chocolate and Omama Royal Dark Chocolate).

Nana Agyenim Boateng, Managing Director of Cocoa Processing Ghana (CPC), said his outfit was happy to partner Nayak Afrik in creating a unique brand for chocolate production.

He said the chocolate product was of maximum quality and was good for any market.

Ms Agnes Adu, Managing Director of the Ghana Trade Fair Authority commended Nayak Afrik for adding Omama Royal chocolate to their product ranges, as they diversify from fabrics and fashion to food and beverage brands.

She said her outfit was ready to support any made-in-ghana product and urged Ghanaian both home and abroad to be ambassadors for the product in their own ways thereby promoting the country Ghana.

Source: Ghana News Agency

Economy being revived despite setbacks – President

Accra- President Nana Addo Dankwa Akufo-Addo Monday said Ghana’s economy was on the path of recovery and growth, in spite of the difficult economic circumstances inherited from the past administration.

He said the economic policies being promoted by his government was fixing the fundamentals of the economy, which would enable the country to realise the vision of becoming an industrialised nation.

President Akufo-Addo made the disclosure in an address at the ongoing 5th Financial Times Africa Summit, in London, United Kingdom.

He said with some degree of success, his government had stabilised our currency despite the recent challenges of a stronger dollar, and has reduced significantly inflation from 15.4% we inherited in 2016 to 9.9% today, and, moderately, the cost of borrowing.

Additionally, a number of tax cuts have brought relief to businesses, and, at the same time, reduced substantially the country’s fiscal deficit, from 9.3% in 2016 to 5.9% in 2017, with a projected 4.5% deficit this year.

Indeed, the Ghanaian economy, whose growth rate stood at 3.6%, in 2016, the lowest in two decades, grew by 8.5% in 2017, and is expected to grow, in 2018, by 8.3%, which, according to the International Monetary Fund, would make it one of the fastest growing economies in the world this year, he said.

The President further indicated that the relative success of the implementation of business-friendly policies, coupled with the availability of affordable and reliable power, had ensured industry, whose growth rate stood at negative 0.5% in 2016, grew by 17.7% in 2017, the highest sectoral growth in the economy.

He made known that a number of deliberate interventions to reduce the cost of doing business, reduce the stress associated with setting up businesses, and formalizing the economy had been put in place.

The e-business registration system, the paperless port clearance system, the digital property addressing system, the mobile interoperability platform, and the issuance of the national identification card, will all help quicken the pace of change to bring us into the technology-driven era, and make our businesses competitive, so that we can attract the requisite investment, foreign and domestic, to spur on our country’s economic transformation, he said.

President Akufo-Addo told the gathering that the modest successes chalked in reviving the Ghanaian economy and creating a business-friendly environment, had received major boosts with the announcement made by two global car giants, Volkswagen of Germany and Sinotruk of China, of their decision to establish assembly plants in Ghana, with the intention, in the medium term, of producing their vehicles in the country.

Tech giant, Google, has also decided to base its African Artificial Intelligence Centre in Ghana, which will make it the first in Africa. US global energy giant, ExxonMobil, and the big Norwegian oil and gas company, Aker Energy, have both signed agreements with the Ghana National Petroleum Corporation (GNPC) to undertake deep-water oil and gas exploration and production, he said.

President Akufo-Addo welcomed the “rapid enhancement of foreign direct investment in our economy”, saying the concomitant transfer of technology would enable Ghana to realise its vision of a Ghana Beyond Aid.

Source: Ghana News Agency