Symposium Mines Guinea: Transforming Guinea’s economy through mining and investment

MAURITIUS, March 13, 2017 (GLOBE NEWSWIRE) — Now in its 5th edition, Symposium Mines Guinea organised by the Ministry of Mines and Geology, in partnership with AME Trade Ltd, is firmly established as the largest mining event in West Africa and will take place from 9 – 11 May 2017, in Conakry, Republic of Guinea.

Due to the importance of the mining sector on Guinea’s economy, The Ministry of Mines and Geology aim to make this sector the most investor friendly mining destination in Africa and have begun taking the necessary measures to implement strict good governance policies for regulation and promotion of transparency.

Supporting the government’s vision of transformational investment, the 2017 programme theme is set on: “The Mining Sector: The Key To Transforming The National Economy For The Benefit Of All Actors”.  With special focus sessions on gold, bauxite, diamonds and iron ore, this year’s innovative agenda will explore some of the following topics:

  • Essential tools for attracting mining investment to the Republic of Guinea
  • Financing mining activities in the Republic of Guinea
  • A geological overview of the Republic of Guinea
  • How can partnerships in infrastructure act as a catalyst for the growth of the mining sector
  • Empowering the mining sector through an adequate supply of energy
  • Local content policies and implementation for economic growth

An international spectrum of highly relevant speakers and supporters have taken the opportunity to participate at SMG 2017. This includes the likes of:

AngloGold Ashanti – DADCO Alumina & Chemicals – Guinea Alumina Corporation S.A – HALCO Mining – Société Minière de Boké (SMB) – AMC Bauxite – Forward Africa Resources – SMD Nordgold – JA Delmas – Société des Bauxites de Guinee (SBG) – Total – Alufer – Geni & Kebe – SRK Consulting – WIRTGEN Group – VIVO ENERGY Guinée – Sylla & Partners

Symposium Mines Guinea 2017 will delve into the Government’s plans for world class laboratories as well as unveil new technology that will be used for insightful research in expanding the mining sector.   Geological data will be presented by local permit holders who are looking for investment or project partnership. Data will be available before the event for potential investors to study.

Event website: www.ametrade.org/smguinee

Press accreditation contact: marketing@ametrade.org

Barbora Kuckova
barbora@ametrade.org

Jantong-Daboashie gets Rice Processing Centre

A Rice Processing Centre has been inaugurated at Jantong-Daboashie in the East Gonja District of the Northern Region to help farmers to process rice for improved income.

The GH216,446 facility, which is to contribute to the reduction of unemployment among the youth and women in the District, has the capacity to process about 100,000 kilogrammes of paddy rice per day.

The facility was provided by the Presby Farmers’ Training and Child Development Programme, (PFT – CDP), a non-governmental organisation, under its Youth and Women Economic Empowerment through Skills Training and Enterprise Development project, which is funded by the Christian Children’s Fund of Canada (CCFC).

Reverend Dr Solomon Sumani Sule-Saa, Chairperson of the Northern Presbytery, who spoke during the inauguration of the facility at Jantong-Daboashie, expressed the hope that the project would bring relief to the teaming youth and women, who were the backbone of economic transformation in the area.

So far, 80 youth and 40 women have been trained in good agronomic practices and rice processing in the area.

Prior to the provision of the facility, young and adult women carried parboiled rice on their heads and walked over 30 kilometres to milling places in Tamale while other rice farmers sold paddy rice at cheap prices to middlemen.

Reverend Sule-Saa said opportunities abound in the District and therefore advised residents not to migrate to other places in search of better conditions.

Meanwhile, PFT – CDP has also formed 45 Village Savings and Loans Associations in 15 communities in the District where over GHc156,000 has been mobilised while plans were on course to roll out Youth Savings and Loans Associations in the District to mobilise resources for investment.

PFT – CDP also intends to add groundnut shelling machines and subsequently a shea butter extraction plant in the area to boost economic activities in the area, he said.

Mr George Baiden, the Country Director of CCFC, assured of continued partnership with PFT – CDP to roll out other innovative interventions for the benefit of all.

Alhaji Abdul-Karim Yahaya, the East Gonja District Coordinating Director, expressed the District Assembly’s support for the initiative, saying it would help to improve incomes of the people.

A representative of the Paramount Chief of Jantong expressed gratitude to PFT – CDP and CCFC for the provision of the facility, which would enable residents to add value to rice produced in the area.

Source: Ghana News Agency

Stick to best cultural practices to maintain quality of cocoa beans

Ghanaian cocoa farmers have been asked to continue to stick to best cultural practices to help keep unaltered the quality of the nation’s cocoa beans.

They should ensure that the beans are taken through proper fermentation, thoroughly dried, with the bad and mouldy cocoa beans, sorted.

Mr. Ayyamani Jagadish, an agribusiness consultant, made the call during a three-day training for farmers and extension officers held at Behenase in the Bekwai Municipality.

The programme was organized by Barry Callebaut, a leading supplier of high-quality chocolate and cocoa products, through its subsidiary, Nyonkopa, a licensed buying company.

The goal was to expose the farmers to best farming technologies – the use of organic materials to improve soil fertility, pre-germination methods, nursery practices and transplanting.

It formed part of efforts at helping to increase cocoa production levels and returns to the farmer.

Mr. Jagadish who is a specialist in cocoa agronomy, indicated to the farmers that proper maintenance of their farms, could enable them to substantially raise crop yield.

He said for the nation to sustain its cocoa sector on the path of growth it was important to aid the farmers to get the right things done – become experts at managing the cocoa trees to boost yield and harvest quality beans.

Pruning, he noted, tended to make cocoa farm management easy – ensures adequate shade, proper air circulation and tree height, sunlight for photosynthesis and makes the cocoa tree an unfavorable habitat for pest and insects.

The lack of it provides a humid environment for pests and insects, to eat up the pods, leaving them with diseases such as the block pod disease.

Mr. Bernard Awaitey, the Projects Manager, said they had targeted to train 36,000 farmers across the various cocoa farming communities.

Source: Ghana News Agency

Africa Business Media Limited Launches Economics Outlook and Business conference

The Africa Business Media Limited, publishers of the Ghana Business and Finance Magazine, has launched the fifth edition of its Ghana Economics Outlook and Business conference in Accra as a platform to address mobile money issues.

This year’s event, to be held on March 22, is on the theme: “Unlocking Ghana’s Economic Potential with Mobile Money and Payment System.”

The conference seeks to create a platform where key government officials, bankers, telecommunication companies and policy makers would address Ghana’s mobile money issues for financial inclusion of the rural communities for economic growth.

It is also to discuss the role of stakeholders in solving the challenges faced between the regulator and aggregators and to identify and agree on ways and means of deepening Ghana’s financial inclusion agenda.

Mr Kwadwo Ohemeng Asumaning, the Chairman of Africa Business Media Limited (ABM), said the conference was also to create a forum where the experiences of Kenya, Nigeria, South Africa among other countries would be shared to avoid future pitfalls.

He said it would help explore and exploit ideas and suggestions from both the Government and private sector stakeholders to address Ghana’s mobile money, financial inclusion and electronic payment system in efforts to promote and sustain the growth of the Ghanaian financial system.

“It is also to identify and agree on the ways and means of deepening Ghana’s financial inclusive agenda,” he said.

The Vice-President, Dr Mahamudu Bawumia, is expected to open the conference with individual presentation, panel discussions and networking opportunities to follow.

The Vice-President would be speaking on how mobile money and payment systems would contribute to financial inclusion and economic growth.

Mr Stephen Essien, the Chief Business Officer of Tigo, said a 2016 report from the Bank of Ghana indicated that total value and volume of mobile money transactions had outstripped all other non-cash transactions except cheque.

He said in the same year, the mobile money balance on float increased to GH 680 million from GH548 million in the previous year.

Mr Essien said the coming together of various players in the banking and mobile financial service industry to address the issues at stake and review synergies was a welcomed move.

“It is a win-win for all,” he added.

Mr Martin Luther-King, the General Manager of ABM, said: “We thought we should provide the right platform to our domestic business environment to give the subject the needed attention it deserves.”

He said it was to ensure that Ghana was not left behind in the ongoing move to global cashless transactions.

Source: Ghana News Agency

Two Hundred Ghanaians join class of dollar millionaires in 2016 – Report

Two Hundred Ghanaians joined the elite class of dollar millionaires in 2016, raising the tally of the High Net worth Individuals (HNWI) with US$1million or more to 2,900 people from 2,700 in 2015.

According to the Knight Frank Wealth Report 2017, of these 10 individuals joined the ranks of those worth US$10M+.

There was, however, no addition to the ultra-high-net-worth pool of those worth US$430m+ and the centre-dollar-millionaires worth US$100m+.

The results are contained in the 2017 edition of the Knight Frank Wealth Report which was launched in Accra in partnership with Stanbic Bank’s Wealth and Investment unit.

Even though this year’s edition is the 11th, it is the first to be launched in Ghana by the leading independent global property consultancy.

The wealth report provides a unique perspective on global investments trends and investment strategies of high net worth individuals around the world.

Speaking at the launch, Mr Andrew Shirley, Editor of the Wealth Report, said the financial service was the main industry from which HNW Ghanaians have acquired their wealth.

“It is the primary source of wealth for 24 per cent of local HNWIs. Other important industries for them include real estate and construction (16) per cent, fast moving consumer goods (13) per cent and mining/ agriculture (10) per cent,” he said.

The report found out that wealth preservation, capital growth and succession planning are the three most important factors that high net Ghanaians consider when making wealth management and investment decisions.

The three factors are deemed most important as uncertainties linger on in global and local economies.

Respondents to the Attitude survey say wealth preservation (79 per cent), followed by capital growth (68 per cent) and the succession planning (56 per cent) were key concerns for Ghana’s rich.

The attitude survey results are based on responses from almost 900 of the world leading private bankers and wealth advisors, and 10,000 clients across Africa.

Commenting on the launch of the report, Head of wealth and Investment at Stanbic Bank, Mr Benjamin Mensah, said as part of a holistic wealth management proposition, Stanbic Bank wealth and investment had created an association with Knight Frank throughout Africa to offer clients access to world property experts as we see real estate as a major asset class.

“We continue to see an evolution of the HNW market in recent years and in the needs of our clients. With increasing sophistication, challenging markets, growing regulatory changes, wealth management has had to evolve,” he said.

Mr Mensah said the Bank’s main focus was on helping clients to continue to generate and preserve wealth by providing them with the best breed investment solutions.

“Our wealth management philosophy centres on managing, growing and protecting the generation wealth of our clients and their families. In addition to trust and other Succession Planning Structures, our leadership academics are designed to equip our clients and their families on the best practices for the transfer of generational wealth,” he said.

He said the junior leaders (10-12), young leaders (13-17) and the future leaders (18-24) and the women’s wealth Academics were aimed at equipping families with the financial skills to ensure the successful management and transfer of wealth from one generation to the next.

On education, wealth managers and advisors for Ghana HNWIs believe more clients are choosing to send their children overseas 47, per cent compared to a 28 per cent global average and 47 percent across Africa.

Source: Ghana News Agency