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BUSINESS FLASH Submitted on 2009-09-23 06:30:56 BUSINESS BENCHMARKS IS OUT NOW \ ON THE STANZAS ALL OVER THE WORLD
TELECOM EXPERTS TO BRAINSTORM IN KENYA Submitted on 2009-09-04 12:51:08 benchmarks business TELECOM EXPERTS TO BRAINSTORM IN KENYA(a)BY SAMUEL SAKYI AFRIYIE
A meeting of telecommunication experts from Africa continent, takes off in Nairobi, Kenya beginning in November. Dubbed: ' Next Generation Telecom Summit "it aims to create a Stable environment for foreign investment. The summit will, therefore,focus on how to improve associate partner communications and will become the general platform for international telecom visionaries to discuss innovation in the industry.
Accredited and confirmed to attend the extra ordinary meeting include Cutierrez Aingo, CEO Ghana Millicom international cellular, Christopher Gabriel Anthony CEO Africa Zain Africa,Alieu Conteh Chairman of Vodafone Congo, Hans Paulson,CCO,Uganda Telecom;Michael Gbossein,CEO Telkon Kenya;Sameer Dave,Group Executives and CEO Ethiopian Telecommunication Corporation-Other telecom leaders from MTN SA are amongst the FIFTY visionaries attending.
The telecommunication Corporation-other telecom leaders territorial industry in Africa has experienced explosive growth over the last decade and is currently among the most exciting regions for telecoms solution-providers.
Major reformation of the telecom industry is vital for for the continent as a whole to move forward."Improved communications could soon see, Africa's business profile jumps within the next year the unit organizers said.
However, communication political responsibilities throughout the continent can not be solved quickly and will not be driven by own company alone. In order for the telecoms market to grow,competition, and most importantly,collaboration between service providers and operators needs to be implemented within the next year.
IFC BRING IN TWO BILLION DOLLARS INTO AFRICA PRIVATE SECTOR INVESTMENT.(b)
THURSDAY
The International Finance Corporation (IFC) . the World Bank's private sector arm,expanded lending in Sub-Saharana Africa to a record TWO BILLION DOLLARS as the year to end June to offset.
The lending, a forty per cent increase on the previous year, saw the IFC involved in Hundred per cent projects in sixty three countries on the pitiablest continent , where it sees itself in the vanguard of private sector investment. "IFC is increasing its activities where it is needed most building a base for sustainable economic growth and increasing opportunities for people to improve their lives "its director for eastern and southern Africa, Jean Philippe Prosper said.
Prosper said the quality of the IFC'S Africa portfolio had improved despite the world financially viable crisis that has cut growth forecasts for the region to around five per cent , Prosper said."What we wanted to do is give a clear hint to the private sector – not only local but also foreign investors- that you can still do better business in Africa,"he told Business Bench Marks.
Among its major deals last year were a THREE HUNDRED MILLION DOLLARS financing package to pan-African bank ECOBANK Transnational Incorporated to encourage more lending to medium and Small Scale business and increase regional trade. It also created a fund , worth a full amount of sixty billion dollars within the African Development Bank, Bill and Melinda Gates Foundation and Germany's Venture and several investments in the Financial Sector.
GOLDEN STAR AWARDS WORKERS© THURSDAY BY BENJAMIN GYAMERA
Ghanaians have been called upon to reaffirm their commitment and loyalty to their work to improve the socio-economic development of the Country. Mr. Edward Ansah, the acting Human Resource and Administrative Manager of Golden Star Resources Limited, who made the communiqué at an awards ceremony of the company at Bogoso in the Western Region on Tuesday, said the contribution of workers to the economy is very human and cannot be overlooked.
Mr.Collin Connors, acting General Manager of the Company, congratulated the workers for their meaningful contribution to the innovation of the company. " We appreciate your continuous commitment and the intelligence you have exhibited towards your work, he mentioned.
Mr. Ansah expressed gratitude to the workers for their norms and unbending work and encouraged them to codify extra work convention to improve the company's performance in the next five years.
He consoled workers who did not win any awards to emulate the excellent case in point of the award winners and also exhibit their skills.
INVESTMENT DEMAND FOR GOLD TO STAY(d) FRIDAY
BY SAMUEL SAKYI ?\ Although the outlook for jewellery and industrial demand for gold will remain Soft as long as conditions in western economies remain "fragile" investment demand for the yellow metal will likely stay firm, the World Gold Council (WGC) said on Tuesday.
In as much as demand from traditional non western gold markets goes, these buyers tend to behave " tactically" with a primary focus on the gold price, the group said in the second quarter of this year edition of it's Gold Demand Trends. " Having taken profits through dishoarding or the selling back of jewellery,consumers are now waiting for an opportunity to buy back some of this gold at lower prices " the WDC Said moves in the gold price towards thousand dollars to thousand two hundred and twenty dollars this activity tends to abate as the gold price moves higher."
???During the second quarter, the volume of total identifiable gold demand was down nine per cent in US dollar terms, to Thirty Billion Dollars. " The decline in average relative to the second quarter of this year was attributable to limbness in jewellery and industrial demand, offset to buy a significant increase in investment demand" the WGC mentioned.
However, during the twelve months ended June this year, total tonnage was still a " healthy" twenty one per cent higher than the previous quarters. The US dollar price during the second quarter rose just three per cent increase in Indian rupee tems, thirty per cent in Turkish lira terms, thirty two per cent in pound sterling terms and twenty per cent in euro terms.
Identifiable investment demand in the second quarter totaled three hundred point nine tonnes, up fifty per cent on year earlier levels and "very healthy" on a past event.
Creditably, net investment stipulate eased significantly compared with the levels during the past four quarters, when economic and financial uncertainty prompted "extreme levels" of sanctuary buying.
MINISTRY OF LANDS AND NATURAL RESOURCES Submitted on 2009-09-04 12:39:27 Ministry Of Lands And Natural Resources Inaugurates Board Of Directors BY SAMUEL AFRIYIE SAKYI Hon. Collins Dauda, Minister for Lands and Natural Resources The Minister for Lands and Natural Resources, Alhaji Collins Dauda has inaugurated the Board of Directors for the Minerals Commission. He said ? the Commission is mandated to formulate recommendations of national policy for exploration and exploitation of mineral resources with special reference to establishing national priorities having due regard to the national economy?. The Board of Directors for the Minerals Commission was inaugurated in Accra today. He said the ?Commission will also monitor the implementation of laid down government policies on minerals and report to the Minister?. He also said, was the? commission will secure a firm basis of comprehensive data collection on national mineral resources and the technologies of exploitation for national decision making. ? Alhaji Collins Dauda further said through the work of the commission, the economic performance of the country’s mining sector has been sustained over the last two decades. Gross Domestic Product (GDP) has increased from 1.5% to 6%, exports earning has increased from 20% to 45% of total exports, while production increased significantly. He said these need to be improved and the benefits to Ghanaians maximised. Furthermore he said that, there was therefore the need to diversify into other minerals which Ghana has potential to produce?. Additionally, he said the value addition to the Minerals won would ensure that the country benefitted from its rich resources. Alhaji Collins Dauda said that there was also growing concern over unlicensed sand-winning operations in the country with negative implications. Again he said the indiscriminate and illegal use of explosives especially in galamsey operations was of concern to government as well and also apart from the safety hazards that this presented it had security implications. The membership of the Board is as follows, Mr. Fred K. Ohene Kena is the Chairman, then Mr. Kwadwo Aboagye Atta a member, Mr. Samuel Myers Newman a member and Mrs. Nancy Amartefio a member. The rest are Hon. Clement Kofi Humado a member, Mr. Edward Awah-Nyametse a member and Mrs. Paulina Dsani also as a member. Others are , Mr.Robert Maldima a member and Mr. Benjamin Aryee a member. The Minister of Lands and Natural Resources, Alhaji Collins Dauda stressed also that besides the role being played by the Environmental Protection Agency (EPA) as the key regulatory agency on the environment in Ghana across the various sectors, he saw the need as well, for additional control by the Minerals Commission, of the environmental and social commitment made by mining companies as far as the mining sector in particular WAS concerned. Posted: 06/08/09
GOVT TO REVIEW OIL LAW Submitted on 2009-09-04 12:34:47 GOVT TO review OIL LAW
BY SAMUEL AFRIYIE SAKYI
PRESIDENT J.E.A. MILLS has said his government will review the draft oil law introduced by the preceding government .
Alongside, he said, he would put in to the public province agreements before now entered in , adding.”We will do the same with future agreements.”
He said the evaluation of the draft oil law agreements were part of steps the government would take to address intelligibility and good governance concerns relating to the nation’s oil find.President Mills was delivering his New Year message to members of the Diplomatic corps at a reception at the castle, OSU, last Friday.
Present were the vice-president, Mr John Mahama; first lady, Mrs Naadu Mills; the Minister of State, Members of Parliament (MPs), traditional and religious leaders. He expressed the hope that the development partners and non-governmental agencies committed to transparency and anti-corruption initiatives would sustain the efforts of the administration.
ANGLOGOLD ASHANTI SPENDS 3.178 MILLION O Submitted on 2009-09-04 12:31:13 AngloGold Ashanti spends 3.178 million dollars on social investment BY SAMUEL AFRIYIE SAKYI Obuasi, Sept 4, GNA - AngloGold Ashanti (AGA) spent a total of 3 .178 million dollars last year on social investments in Obuasi concessional area with education, malaria control and general community development as key areas of commitment. Mr Kwesi Enyan, Deputy Managing Director of the Obuasi Mine, announced this in his presentation during a day's working visit to the mine by the Parliamentary Select Committee on Ghana Poverty Reduction Strategy (GPRS). The presentation covered the company's social responsibility programmes and policies that ensure the establishment of a participatory and collaborative approach on the reclamation of degraded lands and the reduction of blasting and pollution levels in the communities. Mr Enyan who is also the General Manager (Operations) said 7.5 million dollars was spent on malaria control since 2005, leading to a drastic reduction of the incidence of malaria cases in the municipality. "Obuasi has spent over eight million dollars in the last two years on meeting the environmental obligations, and will continue to invest in improving its environmental performance." He said though the Obuasi mine recorded a loss of 45 million dollars in gold production in 2008, and might not make profit in 2009, the company was committed to live up to its social responsibility as well as its commitment to ensuring a safe environment. "AGA is systematically addressing a number of environmental challenges including environmental cleanups, water management, rehabilitation and mine closures and independent monitoring of critical areas," he said. The Chairman of the Parliamentary Select Committee, Clement Kofi Humado called for an effective consultative mechanism to help resolve conflicts and other problems arising out of mining operations. He stressed the need for openness, transparency and accountability from district assemblies and traditional authorities in the use of mineral royalties. Mr Humado, who is the Member of Parliament for Anlo in the Volta Region, said the Committee had not come to witch-hunt but was on a fact-finding mission to better inform the sector minister on the situation on the ground. He encouraged AGA to work together with other stakeholders to enable the mining industry to gain profit and enhance sustainable livelihood programmes. 04 Sept 09
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