Takoradi,Ghana - Dr Joe Oteng-Adjei, Minister for Energy, has called for a review of policies on oil and gas to ensure effective management, guarantee sustainability and protect the environment. He said "We have to re-organise the institutions to make them more effective and relevant to the sector. Efforts should be made to fashion out an effective framework for the development and management of the oil and gas sector".Dr Oteng-Adjei made the call when delivering the keynote address at the opening session of a three-day Oil and Gas Business Conference and Exhibition organised by the management of West Africa Business Association (WABA), Ghana.The conference under the theme "Oil and Gas; Ghana Asem Pa" is to create awareness on the need for policies and strategies to make the oil find a blessing to the country.It also sought to promote the oil discovery for businesses to reposition themselves and strategise to ensure communities and operators holistically benefit from the oil.Dr Oteng-Adjei said Government would periodically review and revise the Petroleum Exploration and Production Law and the Petroleum Income Tax Law to maintain an attractive investment environment for oil companies."We also need to create a friendly environment to encourage investments in the oil and gas industry value chain through fiscal incentives and even handed regulations," he added. Dr Oteng-Adjei noted that to maintain the country's oil and gas asset, Ghana would work with external partners to ensure smooth development of the sector.He said there was also the need for a national oil and gas security and regulatory framework adding, the national security and the army would be supported to provide security for the industry. Dr Oteng-Adjei called on local authorities to develop their expertise and capacity to ensure increased local involvement. "We pledge the commitment of Government to ensure transparent development of oil and gas resources as an integral part of developing the country's economy," he said.Mr Joseph Winful, Chairman of WABA (Ghana) called on all stakeholders in the sector to forge closer partnership to promote development of the sector.Dr Peter Ankrah of Ghana Investment Promotion Council (GIPC) said the council was willing to co-operate with local and foreign investors to build a robust economy.
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Showing posts with label economics. Show all posts
Showing posts with label economics. Show all posts
Friday, June 5, 2009
Thursday, May 21, 2009
Ghana has no fiscal policy on Oil, says RWI
Accra, Ghana- New York based Revenue Watch Institute (RWI) has bemoaned the fact that with barely a year to commence commercial oil production off its West Coast, Ghana is yet to put in place a clear policy direction as to how expected oil revenues would be distributed and utilized.
Emmanuel Kuyole, Africa Regional Coordinator for RWI said the country has neither overhauled the agencies charged with overseeing the industry nor published policies on how the discoveries would be used to benefit the country.
Mr Kuyole’s comments highlights pressure in Ghana and outside for government action to help the country escape the so-called “paradox of plenty”, that has left many other resource-rich countries in the grip of graft and mass poverty.
According to him, even though the Ghana has stated clearly its intention to avoid the fate of Nigeria and other troubled resource regions by setting out modalities, before the commencement of commercial oil production for royalties, dividends, corporate taxes and other levies, not much has been achieved in that direction.
Speaking at a training workshop for members of the Institute of Financial and Economic Journalist (IFEJ) , Mr Kuyole explained that current projections by the German Technical Coorporation indicates that Ghana could reap as much as US$ 25 billion over the projected 25 year life span of the Jubilee oil field, for which reason prudent strategies are required ahead of time to ensure such revenues are well utilised.
He expressed concern about the fact that $27 million of annual receipts from the country’s minerals resources had not impacted much on the livelihood of the citizenry since independence, calling for definitive actions to forestall a similar situation with the entry of oil set to generate $1billion in annual revenue.
According to him, even though the past government worked out a draft oil policy, it is far from being a complete document as the current government wants to revise most portions of the text
Wednesday, May 13, 2009
Re-introduce Service Centres in the distribution of Premix
Sekondi, Ghana– Fishermen groups in the Western Region have called on the government to re-introduce Service Centre in the distribution of premix fuel to ensure fair distribution and effective monitoring.
The Groups: Ghana National Association of Fishermen and Farmers (GNAF), Ghana Co-operative Fishermen (GCF) and Ghana Canoe fishermen Council (GCFC) said, this would end the politicization of premix distribution which had greatly affected the fishing industry.
In a meeting with Ms Betty Bosomtwi-Sam, Deputy Western Regional Minister to find lasting solution to the issues surrounding premix distribution, the group agreed that policies regulating premix distribution should be reactivated.
The policy, according to Mr Kwaw Koomsoon, Regional Secretary, GNAF stipulated that only identifiable and viable fisher groups had the mandate to sell premix fuel and not any individual.
He noted that the Service Centre which was a central point for fisher groups to have easy access to premix fuel had been abrogated over the past eight years while individuals had taken over the sale and distribution of premix fuel.
Ms Bosomtwi-Sam in response to the plea said government would ensure that the appropriate thing was done to bring sanity into the fishing industry.
She therefore charged the group to form a committee with representatives from the oil companies, the fisher associations, the Regional Coordinating Council and the Department of Fisheries to have oversight responsibility.
Ms Bosomtwi-Sam on the other hand abhorred the practice of using light and DDT for fishing and advised the fishermen to stop the practice.
On the Oil Fields, She noted that ocean current around such areas were high and could cost human life and therefore cautioned them not to travel to such areas.
The Groups: Ghana National Association of Fishermen and Farmers (GNAF), Ghana Co-operative Fishermen (GCF) and Ghana Canoe fishermen Council (GCFC) said, this would end the politicization of premix distribution which had greatly affected the fishing industry.
In a meeting with Ms Betty Bosomtwi-Sam, Deputy Western Regional Minister to find lasting solution to the issues surrounding premix distribution, the group agreed that policies regulating premix distribution should be reactivated.
The policy, according to Mr Kwaw Koomsoon, Regional Secretary, GNAF stipulated that only identifiable and viable fisher groups had the mandate to sell premix fuel and not any individual.
He noted that the Service Centre which was a central point for fisher groups to have easy access to premix fuel had been abrogated over the past eight years while individuals had taken over the sale and distribution of premix fuel.
Ms Bosomtwi-Sam in response to the plea said government would ensure that the appropriate thing was done to bring sanity into the fishing industry.
She therefore charged the group to form a committee with representatives from the oil companies, the fisher associations, the Regional Coordinating Council and the Department of Fisheries to have oversight responsibility.
Ms Bosomtwi-Sam on the other hand abhorred the practice of using light and DDT for fishing and advised the fishermen to stop the practice.
On the Oil Fields, She noted that ocean current around such areas were high and could cost human life and therefore cautioned them not to travel to such areas.
Monday, May 11, 2009
Join credit unions to improve living conditions
Mr James Okyere, Techiman Municipal Cooperative Officer has stressed the need for people to join cooperative credit unions to help better their living conditions. He explained that "credit unions offer members investment opportunities" and formed the corner stone to the development of small business enterprises.
Mr Okyere said this at a forum at Werriwa in the Techiman municipality to sensitize the people about the concept of cooperative credit union.
"As there is no financial institution in Werriwa and its environs it is prudent for the people to embrace the concept", he said, adding that people continue to spend their monies, without thinking of improving their living standards. Mr Okyere appealed to the people to cultivate the habit of savings, because such savings could be invested to enhance their livelihood.
Mr Okyere said this at a forum at Werriwa in the Techiman municipality to sensitize the people about the concept of cooperative credit union.
"As there is no financial institution in Werriwa and its environs it is prudent for the people to embrace the concept", he said, adding that people continue to spend their monies, without thinking of improving their living standards. Mr Okyere appealed to the people to cultivate the habit of savings, because such savings could be invested to enhance their livelihood.
Tuesday, May 5, 2009
Imbibe Managerial skills for development-Moderator
Accra, Ghana- The slow pace of development within the society and the church in particular could largely be attributed to the lack of appropriate management skills, Right Rev Dr Yaw Frimpong-Manso, Moderator of the Presbyterian Church of Ghana said on Tuesday.
"The situation calls for the need to review theological courses and blend it with management to make the training of our ministers complete".
Rev Dr Frimpong-Manso made the call at the opening of this years May School of Church Management organised by the PCG to expose ministers of the church to modern dynamics of management to enable them meet the challenges of the century.
He noted that qualitative growth of any church depended on strategic planning and management of resources as well as leadership, adding, "It is therefore not surprising that the church continues to face management oriented problems such as poor project planning.
Rev Dr Frimpong-Manso added that, "the church must re-orient its thinking and avail itself for such management training and practices to be able to catch up with modern trends".
He lauded the initiators of the May school and called for classification of participants as well as decentralization of the cent res of the programme to enable PCG ministers across the country to benefit.
Mr Seth Terkper, Deputy Minister of Finance said it was a laudable initiative which sought to bring ministers abreast with the principles and practice of management in the various forms.
"Indeed the course is very relevant especially in this era of national austerity as well as the global financial and economic crisis", he added.
"The situation calls for the need to review theological courses and blend it with management to make the training of our ministers complete".
Rev Dr Frimpong-Manso made the call at the opening of this years May School of Church Management organised by the PCG to expose ministers of the church to modern dynamics of management to enable them meet the challenges of the century.
He noted that qualitative growth of any church depended on strategic planning and management of resources as well as leadership, adding, "It is therefore not surprising that the church continues to face management oriented problems such as poor project planning.
Rev Dr Frimpong-Manso added that, "the church must re-orient its thinking and avail itself for such management training and practices to be able to catch up with modern trends".
He lauded the initiators of the May school and called for classification of participants as well as decentralization of the cent res of the programme to enable PCG ministers across the country to benefit.
Mr Seth Terkper, Deputy Minister of Finance said it was a laudable initiative which sought to bring ministers abreast with the principles and practice of management in the various forms.
"Indeed the course is very relevant especially in this era of national austerity as well as the global financial and economic crisis", he added.
Thursday, January 29, 2009
Pay attention to the hotel industry
Accra, Ghana-Professor Stephen Adei, former Rector of the Ghana Institute of Management and Public Administration (GIMPA) on Thursday noted that although the hotel industry contributed 10 per cent of the country’s Gross Domestic Product, little attention had been paid to its development.
“State-owned hotels like the Ambassador, Atlantic and Continental have all collapsed and Ghana is now relying on private hotels which do not meet international standards,” he said.
Prof. Adei who was speaking at the National Council meeting of the Ghana Hotels Association therefore lauded private hoteliers for their contribution in generating both local and foreign income to support the development of the country.
“I urge you to work in unity and put your resources together, establish a co-operative bank that would enable you to have access to credit facilities to grow the industry.”
Prof. Adei called for excellent management practice and training of staff to raise the face of the industry in the country and tasked government to simplify taxes on hotels.
“It is time for the government to look on the SME in the hotel industry as national assets and come out with a comprehensive incentive package,” he said.
Nana Kofi Adjei Twinin I, National President of the Association, said it was looking at human resource development and capacity building to ensure quality and efficient service delivery.
He said the industry would continue to work to meet the current service standards required by the Ghana tourist board.
“Currently the association has submitted a proposal document for strengthening and harmonizing the operations of the hotels association,” Nana Twinin said.
Mr Martin Mireku, Executive Director, Ghana Tourist Board, said the promotion of tourism could not be effective without a committed and vigorous private and public partnership, adding “there is the need for us to cooperate to achieve the excellence the industry is striving for”.
He said recent inspections carried out by the Board revealed poor kitchen hygiene, housekeeping and supervision, inadequate provision of mandatory furnishing and unskilled staff coupled with lack of professionalism.
Mr Mireku therefore urged hoteliers to keep to standards adding that the tourism industry was dynamic.
“State-owned hotels like the Ambassador, Atlantic and Continental have all collapsed and Ghana is now relying on private hotels which do not meet international standards,” he said.
Prof. Adei who was speaking at the National Council meeting of the Ghana Hotels Association therefore lauded private hoteliers for their contribution in generating both local and foreign income to support the development of the country.
“I urge you to work in unity and put your resources together, establish a co-operative bank that would enable you to have access to credit facilities to grow the industry.”
Prof. Adei called for excellent management practice and training of staff to raise the face of the industry in the country and tasked government to simplify taxes on hotels.
“It is time for the government to look on the SME in the hotel industry as national assets and come out with a comprehensive incentive package,” he said.
Nana Kofi Adjei Twinin I, National President of the Association, said it was looking at human resource development and capacity building to ensure quality and efficient service delivery.
He said the industry would continue to work to meet the current service standards required by the Ghana tourist board.
“Currently the association has submitted a proposal document for strengthening and harmonizing the operations of the hotels association,” Nana Twinin said.
Mr Martin Mireku, Executive Director, Ghana Tourist Board, said the promotion of tourism could not be effective without a committed and vigorous private and public partnership, adding “there is the need for us to cooperate to achieve the excellence the industry is striving for”.
He said recent inspections carried out by the Board revealed poor kitchen hygiene, housekeeping and supervision, inadequate provision of mandatory furnishing and unskilled staff coupled with lack of professionalism.
Mr Mireku therefore urged hoteliers to keep to standards adding that the tourism industry was dynamic.
Monday, November 17, 2008
Train relevant manpower to achieve golden age of business
Accra, Ghana-Dr Augustine Quashigah, Head of the Social Studies Department, University of Education, Winneba on Saturday said achieving the golden age of business required the training of relevant manpower to develop the country’s economy.
He therefore urged institutions and government to channel more resources and facilities into business related training schools to churn out products that would help realized the dream.
Dr Quashigah said this at the launching of the seventieth anniversary of the Keta Business Senior High School, which was on the theme: ’70 years of Quality Education, Prospects, Challenges and the Way Forward’.
He called on the students to eschew laziness, indiscipline; examination mal-practices and rather become studious in the pursuit of their academic goals for a better future.
Mr Winfred Frealar Kwamivi, National President of the Old Students Association said quality education was the foundation for shaping every individual, “However quality education comes with its challenges ranging from infrastructure development and learning resources and Ketabusco is no exception”.
He noted that the school was faced with numerous challenges that were tampering teaching and learning in the school, “this long hall and the wooden structure has been our cherished mother which accommodated us over the years”.
Mr Kwamivi said despite the challenges, the school had become the centre of attraction in industry, business organizations and tertiary institutions, “this is due to the can do spirited irrespective of the lack of infrastructure”.
He urged the old students to come on board and assist the students in the provision of infrastructure for the school, “Let us re-brand our school and give the future generation a hope”.
Mr Augustine Akpakli, Headmaster of the school said though the school was the second oldest in the Volta region, it lacked adequate facilities and infrastructure that ensured quality education.
He noted that presently the school lacked a library block, typing pool, home economics block, dormitories, science laboratory, and staff bungalows adding, “The administration block which was started more than 10 years ago is still not completed”. Mr Akpakli the achievement of the school with its limited facilities should inspire all stakeholders to continue to strive hard to improve upon the facilities in the school, “The school indeed needs urgent attention”.
He therefore urged institutions and government to channel more resources and facilities into business related training schools to churn out products that would help realized the dream.
Dr Quashigah said this at the launching of the seventieth anniversary of the Keta Business Senior High School, which was on the theme: ’70 years of Quality Education, Prospects, Challenges and the Way Forward’.
He called on the students to eschew laziness, indiscipline; examination mal-practices and rather become studious in the pursuit of their academic goals for a better future.
Mr Winfred Frealar Kwamivi, National President of the Old Students Association said quality education was the foundation for shaping every individual, “However quality education comes with its challenges ranging from infrastructure development and learning resources and Ketabusco is no exception”.
He noted that the school was faced with numerous challenges that were tampering teaching and learning in the school, “this long hall and the wooden structure has been our cherished mother which accommodated us over the years”.
Mr Kwamivi said despite the challenges, the school had become the centre of attraction in industry, business organizations and tertiary institutions, “this is due to the can do spirited irrespective of the lack of infrastructure”.
He urged the old students to come on board and assist the students in the provision of infrastructure for the school, “Let us re-brand our school and give the future generation a hope”.
Mr Augustine Akpakli, Headmaster of the school said though the school was the second oldest in the Volta region, it lacked adequate facilities and infrastructure that ensured quality education.
He noted that presently the school lacked a library block, typing pool, home economics block, dormitories, science laboratory, and staff bungalows adding, “The administration block which was started more than 10 years ago is still not completed”. Mr Akpakli the achievement of the school with its limited facilities should inspire all stakeholders to continue to strive hard to improve upon the facilities in the school, “The school indeed needs urgent attention”.
Friday, October 31, 2008
poverty stilla problem in rural areas
Accra, Ghana - Mr. Ernest Debrah, Minister of Food and Agriculture, on Thursday said though human resource development and capacity building programme had led to increased food supplies and crop yields, poverty still remained a major problem among rural population.He said the challenge was for stakeholders to develop strategies that more clearly addressed the needs of the poor and ensured that they benefited.Mr. Debrah said this at the launch of the first Edikanfo Progressive Foundation/Communicating America Education Programme (EPF/CAEP) National Agriculture Human Resource Development and Exchange Programme, a collaborative programme between the ministry and Edikanfo Foundations, an NGO to expose Ghanaian farmers to international best practices. He said the pov erty reduction strategy recognized agriculture as a sector with the greatest potential to reduce poverty. "We recognise the fact that poverty reduction will only be achieved through appropriate actions - a combination of activities to increase production and productivity."Mr Debrah said the youth in modern agriculture programme was also to provide gainful employment for the unemployed and underemployed particularly those in the rural areas. He noted other challenges facing the sector as finance and mechanisation. "My ministry is pursuing vigorous policies to enhance farmers' access to timely mechanised services." Mr Debrah urged young farmers, agriculture students and ministry to take advantage of the opportunities that the programme offered to develop themselves.Mr Patrick Kwabena Arthur, Coordinator, EPF said developing effective strategies to unlock the potential of Ghanaian agriculture was crucial to achieve the country's growth and poverty reduction goals. He said the foundation had supported development interventions through advocacy, education and training, among others. Mr Arthur said the exchange programme would offer Ghanaian farmers valuable experience in specified areas, improve communication skills to ensure personal growth and development.
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