daily menu » rate the banner | guess the city | one on oneforums map | privacy policy | DMCA | news magazine

Go Back   SkyscraperCity > Continental Forums > Africa > West Africa > Ghana > Economy & Infrastructure



Reply

 
Thread Tools
Old March 7th, 2012, 11:08 PM   #81
obeeme
Registered User
 
Join Date: Dec 2009
Posts: 460
Likes (Received): 20

Southern Fried Chicken Rebrands

Southern Fried Chicken (SFC) Restaurant has outdoored new cooking techniques to improve its operations in Ghana.Andrew Withers, Chief Executive Officer (CEO) of Southern Fried Chicken, addressing the media, said with the introduction of the new techniques, Ghanaians would enjoy nutritious local and continental meal.

SFC Restaurant, he noted, provides local dishes that are prepared in a hygienic environment by seasoned chefs and professional kitchen staff. The UK-based CEO said, “The lip-licking flavour of every single piece of SFC comes courtesy of extensive refinement of both the products and processes. Succulent pieces of fresh chicken are marinated to give flavour right through to the bone. They are then coated in breading made from the finest ingredients mixed with a unique blend of herbs, spices and exclusive lemon pepper. They are then pressure-fried to perfection.”

The launch of the new cooking techniques was done simultaneously with the re-branding of the restaurant to ensure that Ghanaians enjoy excellent services in healthy surroundings.Commenting on the quick service restaurant industry in the UK, he said it has grown at a more rapid rate than any other sectors and was currently worth around £3.5 million. Major high street retailers have concentrated on the development of three individual products – namely hamburgers, pizza and chicken.

“Now, for the first time, SFC combines all of these top selling items into a single restaurant concept which is perfectly positioned to deliver exactly what the customer wants – convenience, quality, value, etc.” In an interview after the ceremony, Mr. Withers reiterated that SFC uniquely uses local rice, vegetables, poultry and cholesterol-free oil to reduce fat intake.

He stated that globally SFC has about 800 branches and ten branches in Ghana, noting that staff of SFC are trained to be elegant and hospitable in the discharge of their duties
obeeme no está en línea   Reply With Quote

Sponsored Links
 
Old March 7th, 2012, 11:09 PM   #82
obeeme
Registered User
 
Join Date: Dec 2009
Posts: 460
Likes (Received): 20

Samsung Rewards Customers

Samsung mobile and electronics has given a total of US$250,000 in prizes to its customers who participated in the company’s promotion during the AFCON tournament held in Gabon and Equatorial Guinea.

Seventy-six customers won Samsung Galaxy SII and Y phones, and the ultimate winner was rewarded with a 64-inch Plasma TV. Marketing Manager of Samsung, Richard Nunekpeku, said the promotion was part of the company’s sponsorship of the 2012 AFCON.

“As part of the sponsorship of the tournament we decided to run this promotion to reward our loyal customers and football lovers in general, and also to drive consumer participation in the tournament.” He added that all that customers had to do was purchase any Samsung product from any certified shop. They will be given a coupon to enter the weekly draw or can win an instant prize.

“We have given out 800 mobile phones, 500 DVD players, 1000s of ‘T’ Shirts and replica jerseys as instant prizes to customers upon purchase of any product from any accredited shop,” he said. Mr. Nunekpeku added that this is not the only promotion Samsung is running for the year, so all consumers should watch out for the bigger and better ones in coming months.

The last weekly draw held at the Accra Mall saw 19 customers walk away with their prizes which included six Galaxy SII, 12 Galaxy Y phones and a 64-inch Plasma TV. David Bazango of Abeka Lapaz, a civil servant who took home the ultimate prize, said: “I am surprised and happy at the same time.”

He explained that before winning the prize he said he never believed in promotions that are organised by companies and institutions. “But I now believe them for real, and also seize this opportunity to tell everyone that these promotions are true only if they are coming from the accredited source like Samsung,” he said.

He purchased a split air-conditioner from one of the official shops and was given a coupon to enter the draw.
obeeme no está en línea   Reply With Quote
Old March 7th, 2012, 11:12 PM   #83
obeeme
Registered User
 
Join Date: Dec 2009
Posts: 460
Likes (Received): 20

Kotoka International Airport to handle 5.2 million passengers by 2013

Kotoka International Airport (KIA) will undergo expansion that will increase its capacity to handle 5.2 million passengers by next year 2013, a feasibility report prepared by US-based LPA group for the Ghana Airports Company has projected, (an increase of approximately 400 per cent on 2010 figures) and 49,325 tonnes of freight (up from 46,480 in 2010) during the same period.

The expansion works are estimated to cost about $405 million it says.
A global engineering group and airport systems integrator Cavotec which claims it has won an order to supply advanced ground support equipment for the KIA.

According to Cavotec, it won the order worth several million euros for the manufacture, supply and integration of a complete fuel hydrant system at the country’s main airport in conjunction with PW Ghana.
obeeme no está en línea   Reply With Quote
Old March 8th, 2012, 11:31 PM   #84
obeeme
Registered User
 
Join Date: Dec 2009
Posts: 460
Likes (Received): 20

Ghana pledges firm cocoa price for its farmers

Ghana has no plans to cut the price at which it buys cocoa from its farmers in the coming 2012/13 season despite the dive in the world market price of cocoa over the past year, the industry regulator of the world's number two grower said on Thursday.

Cocoa futures are trading at just under $2,300 a tonne, about a third down on this time last year when the political conflict in top grower Ivory Coast triggered fears of tight supplies that have since been proven unfounded.

Regulator Cocobod is the sole buyer for the country's cocoa at a fixed rate of 3,280 cedis ($1,930), which at current exchange rates is almost double the price achieved by Ivorian farmers in some regions - a differential which has prompted sustained smuggling of Ivorian cocoa into Ghana.

"There are no plans, nor proposals to reduce the producer price now or at the start of the upcoming season - it'd be difficult to justify that sort of decision and I don't see it happening," said Cocobod spokesman Noah Amenyah.

"The number one objective is to make cocoa farming attractive to our people, including the youth - it's a reward system for them as stakeholders in our drive to significantly improve production," Amenyah
At least 500,000 farmers' families are dependent on cocoa in Ghana. President John Atta Mills is seeking a second term in what is expected to be a tight election race in December.

Ghana has a producer price review committee, comprising representatives of farmers, buyers, Cocobod and the government. They meet ahead of every crop year to recommend the buying price to government, generally around October.

Amenyah said there were safety valves built into the pricing mechanism such as a stabilisation fund used to cushion the effects of price changes on world markets.

Cocoa export profit windfalls are lodged in the fund when market prices are high. This serves as a buffer and provide resources to the government for the payment of producer prices during periods of price falls.

Ivory Coast is seeking to create a similar stabilisation mechanism to guarantee its farmers a minimum price.

But for now its farmgate prices remain highly volatile and exporters and analysts forecast anything up to 145,000 tonnes could be smuggled out of the country in the season to end-April, with most of it bound for Ghana.

Ghana produced a record more than one million tonnes of cocoa last year. Analysts and traders have estimated up to a fifth of that was smuggled in from Ivory Coast, but Cocobod disputes those figures and says the bumper crop was the result of improved farming techniques and favourable weather
obeeme no está en línea   Reply With Quote
Old March 10th, 2012, 12:24 AM   #85
obeeme
Registered User
 
Join Date: Dec 2009
Posts: 460
Likes (Received): 20

MTN predicts data explosion and benefits for Ghana

MTN Ghana CEO, Michael Ikpoki has predicted an explosion in data consumption beginning from this year, and resultant significant economic returns for the country as a whole.

Other industry players made similar predictions in part earlier this year, and Michael Ikpoki told Adom News that was a clear sign that industry players know what’s up, and are preparing not only to get the fair share of the boom, but also to use data to trigger economic growth.

He said in the market like Ghana, where there is 80% mobile penetration and huge amount of multi-simming, the voice aspect of the business starts to slow and that reduces voice revenue for operators so the obvious alternative is data.

“But it is important to point out that data is not just an alternative source of revenue for telcos because it has very important economic implications for the country,” he said.

Mr. Ikpoki explained that Ghana was at an interesting phase of economic growth in terms of investments into the country, and the growth of different industries, which would increase the demand for data.

He noted, for instance, that telecoms has become a tool, not just for voice service but also for supporting the growth of other key industries like mining, oil and gas and other strategic sectors of the economy.

Indeed, the Ghana Statistical Service reported in 2010 that the service sector was the biggest driver of economic growth and the telecom sector alone was the biggest driver of the service sector itself.

Mr. Ikpoki said the expected growth in data consumption has, to a large extent, started with the large-scale industries, but would gradually trickle down to the small and medium scale enterprises because those enterprises would need data consuming systems in order to participate fully in, and maximize their benefits from the expected economic growth.

He said it was therefore very strategic for MTN, for instance, to have landed the 14,500KM WACS (West African Communications System) submarine fibre cable in Ghana at such a time as this.

“We would be deploying the 5.2 terabit WACS to augment the capacity of our three switch/data centres to improve the data quality and experience of our customers, particularly those in the high uptake areas,” he said.

MTN invested some $90 million into the $650 million WACS, which stretches from South Africa to Europe – terminating in London, with landing stations in Ghana, Nigeria, Ivory Coast, Congo, and 11 other countries along the Western and Southern coasts of Africa.

The WACS cable along the caost of Africa, and like others such as Glo One and Main One, is expected to raise the level of internet and broadband availability in Africa, boost Africa’s efforts at bridging the digital divide, and also reinforce Africa’s position as a major player in the digital age.

But some African telecom operators and regulators recently expressed concern over how much fibre capacity would be consumed in Africa, given the high level of illiteracy and the rampant power fluctuations on the continent.

Mr. Ikpoki, however, said last year MTN launched MTN Business, and the focus was to develop customized solutions for both SMEs and large-scale businesses to help them have more efficient practices and grow their businesses better, adding that data would be key in that regard.

“We will develop websites for small businesses (because) research has shown we can help them in that direction - we have a product that helps small business to subscribe to those services, and we have a huge data centre with the capacity to support such set ups,” he said.

He said MTN was currently on a listening campaign, to know from the various businesses what their specific needs are so MTN could customize solutions to meet their needs and ensure that they participated fully in the data boom.

At the individual level, MTN has just recently launched the Vehicle Tracking Service, where users would acquire a SIM-based tracking device from MTN through which they could track the location of their vehicle when they are away from the vehicle; when someone tampers with; and even trace it when it is stolen.

Mr. Ikpoki said the launch of MTN data bundles last year, and the celebration of Internet Festival (I-FEST) month in September last year among other things, were just the beginnings of MTN’s focus on data, and the company made significant inroads towards establishing itself as a data brand.

“Currently we have the best 3G coverage – fastest on the market (comparable to Expresso’s CLIQ) three high capacity data centres and we are preparing to go live with our WACS fibre cable in April/May this year to stamp our position as market leaders in data service as well,” he said.
obeeme no está en línea   Reply With Quote
Old March 10th, 2012, 12:28 AM   #86
obeeme
Registered User
 
Join Date: Dec 2009
Posts: 460
Likes (Received): 20

Ghana gold output to rebound in 2012 - Chamber

Ghana's full-year gold production declined by a few percentage points last year but is expected to rise in 2012, the head of its Chamber of Mines said on Friday.

Ghana is Africa's second largest gold producer after South Africa and produced 2.97 million ounces of gold in 2010. Output was originally seen rising in 2011 but in the end shrunk as a number of firms focused on longer-term maintenance and expansion projects rather than maximising existing production.

"Gold output in 2011 came down 2-3 percent compared to the year before," Ghana Chamber of Mines Chief Executive Tony Aubynn told Reuters, adding details were yet to be finalised.

He said the decline could have been deeper but for the fact that Australian miner Adamus Resources poured its first gold in January last year.

"Two more mines are expected to come on stream this year and we also anticipate that Adamus will be ramping up production during the year - so we are going to see production go up this year," Aubynn forecast.

In the first half of 2011, the country produced 1,497,023 ounces, up three percent on the same period of 2010, with revenues jumping 31 percent to $2.2 billion on the back of higher gold prices
obeeme no está en línea   Reply With Quote
Old March 13th, 2012, 10:38 PM   #87
obeeme
Registered User
 
Join Date: Dec 2009
Posts: 460
Likes (Received): 20

Ghana pledges firm cocoa price for its farmers

Ghana has no plans to cut the price at which it buys cocoa from its farmers in the coming 2012/13 season despite the dive in the world market price of cocoa over the past year, the industry regulator of the world's number two grower said on Thursday.

Cocoa futures are trading at just under $2,300 a tonne, about a third down on this time last year when the political conflict in top grower Ivory Coast triggered fears of tight supplies that have since been proven unfounded.

Regulator Cocobod is the sole buyer for the country's cocoa at a fixed rate of 3,280 cedis, which at current exchange rates is almost double the price achieved by Ivorian farmers in some regions - a differential which has prompted sustained smuggling of Ivorian cocoa into Ghana.

"There are no plans, nor proposals to reduce the producer price now or at the start of the upcoming season - it'd be difficult to justify that sort of decision and I don't see it happening," said Cocobod spokesman Noah Amenyah.

"The number one objective is to make cocoa farming attractive to our people, including the youth - it's a reward system for them as stakeholders in our drive to significantly improve production," Amenyah said.

At least 500,000 farmers' families are dependent on cocoa in Ghana.
Ghana has a producer price review committee, comprising representatives of farmers, buyers, Cocobod and the government. They meet ahead of every crop year to recommend the buying price to government, generally around October.

Amenyah said there were safety valves built into the pricing mechanism such as a stabilisation fund used to cushion the effects of price changes on world markets.

Cocoa export profit windfalls are lodged in the fund when market prices are high. This serves as a buffer and provide resources to the government for the payment of producer prices during periods of price falls.

Ivory Coast is seeking to create a similar stabilisation mechanism to guarantee its farmers a minimum price.

But for now its farmgate prices remain highly volatile and exporters and analysts forecast anything up to 145,000 tonnes could be smuggled out of the country in the season to end-April, with most of it bound for Ghana.

Ghana produced a record more than one million tonnes of cocoa last year. Analysts and traders have estimated up to a fifth of that was smuggled in from Ivory Coast, but Cocobod disputes those figures and says the bumper crop was the result of improved farming techniques and favourable weather
obeeme no está en línea   Reply With Quote
Old March 13th, 2012, 10:43 PM   #88
obeeme
Registered User
 
Join Date: Dec 2009
Posts: 460
Likes (Received): 20

Ghana sharply raises cocoa output forecast

Ghana cocoa regulator Cocobod raised its main crop output forecast to 870,000 tonnes from 770,000 tonnes and now expects the full season to be "in the same region" as last year's record 1 million tonne harvest, an official said on Tuesday.

The sharp upward revision is due to improved rainfall in the world's No. 2 cocoa grower, Cocobod Deputy Chief Executive in Charge of Agronomy and Quality Control Yaw Adu-Ampomah indicates.
obeeme no está en línea   Reply With Quote
Old March 15th, 2012, 12:29 AM   #89
obeeme
Registered User
 
Join Date: Dec 2009
Posts: 460
Likes (Received): 20

Mining companies proceeds with production despite uncertainties

Chief Executive Officer of Ghana Chamber of Mines, has said some mining companies were proceeding with their production in spite of the uncertainties and the business risks associated with the industry.

Government in the 2012 Budget announced an increase in corporate tax on mining companies to 35 per cent from 25 per cent and a 10 per cent windfall tax on mining profits to be introduced.

The Government recently set up a team to review and re-negotiate stability agreements it had entered into with some mining companies to ensure that the country derived maximum benefits from its resources

“Most companies are willing to expand their operations which will invariably bring value to the mining industry. This would bring value to the country,” Dr Aubynn said during a presentation to a German Business Delegation to Ghana.

He said while a couple of companies in the mining industry were in distress in spite of the relatively high gold price, most companies had been able to play down the global down turn very well and the Chamber expected this to continue.

Dr Aubynn said the emphasis on fiscal receipts directly from the industry did not reflect on the total benefits of mining to the economy.

The country, he said, should adopt a policy to identify and develop all downstream and upstream activities linked to the mining industry for which the country had a competitive advantage to create value multipliers.

Dr Aubynn said based on data gathered by Supply Managers, it could well be possible to increase mining sector spending on Ghanaian manufactured products in the long term by 66 per cent from around $120 million per annum to $200 million dollars.

“The multiplier effect of this growth on the Ghana economy would be many times the current increase in direct expenditure,” he said.

In this direction, he said, a Memorandum of Understanding had been signed between the Chamber, Minerals Commission and IFC to define the roles and responsibilities of each of the parties in the development of a National Local Content Programme.

He said the mining sector would continue to play its lead role as a major export earner and contributor to the country’s balance of payment, accounting for nearly half of the country’s gross export revenue.
obeeme no está en línea   Reply With Quote
Old March 15th, 2012, 12:31 AM   #90
obeeme
Registered User
 
Join Date: Dec 2009
Posts: 460
Likes (Received): 20

Perseus blames tax 'disease' for profit drop

PERSEUS Mining has blamed the spread to West Africa of the Canberra "disease" of increased taxation of the resources industry for a 10-15 per cent fall in its market value since November.

The company is increasing gold production at its Edikan mine in Ghana, where corporate taxation of the mining industry has risen in stages from the standard 25 per cent corporate rate to 35 per cent.

Speaking at an investor briefing in Melbourne yesterday, Perseus managing director Mark Calderwood said the "disease that started in Canberra is spreading" to West Africa.

His pointed reference to the Gillard government's proposed mining tax on iron ore and coal came as other West African nations seek to increase the government take from the resources sector. Mr Calderwood suggesting the World Bank and the International Monetary Fund had been encouraging the moves.

Mr Calderwood said the start date for the windfall tax in Ghana was still unknown, but it had "clearly been frustrating for investors".
One aspect of the mining scene in West Africa that did not give him concern was security of tenure -- one of the exceptions being Guinea, where both Rio Tinto and BHP have projects.

Perseus was trading at $3.30 a share in November. Yesterday, it closed at $2.52 -- a value loss since November of 23 per cent, indicating more factors at play than the West African tax grab.

Analysts said the market could be waiting for confirmation that Edikan was hitting its targets as it worked up to forecast gold production of 225,000 ounces this year and as much as 290,000 ounces next year.

Perseus is also planning to become a gold producer in the Ivory Coast from the high-grade Sissingue deposit.

The development of Sissingue would establish Perseus as a 450,000-500,000 ounce a year producer, one of the biggest on the ASX. That growth has made it a perennial favourite to be taken over by one of the other big gold producers that also have operations in Ghana-Ivory Coast.

Mr Calderwood said any takeover bid would have to be friendly. "It has all been quiet" on that front since Canada's Kinross Gold revealed its 2010 Red Back Mining acquisition was a dud.

"The big boys are scared senseless about another Kinross," Mr Calderwood said. Perseus itself is looking to add another project to follow on from Sissingue. The new project could come from its own exploration efforts or through joint ventures
obeeme no está en línea   Reply With Quote
Old March 15th, 2012, 12:33 AM   #91
obeeme
Registered User
 
Join Date: Dec 2009
Posts: 460
Likes (Received): 20

Ghana’s inflation rate slows to 8.6% in February 2012

The rate of Ghana’s inflation slowed down marginally to 8.6 per cent in February from 8.7 per cent in January 2012, helped by lower average food inflation, the Ghana Statistical Service said on Wednesday.

“Even though the food component accounted for 4.3 per cent inflation, individual items have high inflation rates. All in all we have some stability,” Dr Philomena Nyarko, Acting Government Statistician, said at the press conference.

Food inflation rate slipped to 4.3 per cent in February compared to non-food inflation rate of 11.2 per cent, which is more than two and half times the food inflation rate.

The food and non-alcoholic beverages group has been recording single digit inflation rate since January 2011 while the non-food inflation has remained stable between 11.1 per cent and 12.4 per cent since February.

Movements in inflation rates within the last 12 months were relatively stable. The highest inflation rate recorded in February 2011 was 9.2 per cent and the lowest 8.4 per cent in September last year.

Dr Nyarko said with current trends, it would be difficult to tell what the outlook for inflation over the next few months.

The monthly change for February 2012 was 1.5 per cent compared to 2.2 per cent in January.

Six groups in the non-food component recorded double-digit year-on-year inflation rates with transport and miscellaneous goods and services registering relatively high rates of 17 per cent and 16.2 per cent respectively. Recreation and culture, clothing and footwear, furnishings and household equipment registered rates between 12.2 per cent and 14.1 per cent.

Inflation rate in the regions ranged from 5.3 per cent in Upper East and Upper West regions to 13.2 per cent in Central Region.

Central, Western and Ashanti regions recorded inflation rates above the national rate of 8.6 per cent.
obeeme no está en línea   Reply With Quote
Old March 17th, 2012, 12:08 AM   #92
obeeme
Registered User
 
Join Date: Dec 2009
Posts: 460
Likes (Received): 20

BOST to construct petroleum terminal at Atwereboanda

The Bulk Oil Storage and Transportation (BOST) Company Limited is to construct a petroleum terminal at Atwereboanda in the Ahanta West District in the Western Region.

The 200-million dollar facility that would store Liquified Petroleum Gas (LPG) and other petroleum products, would be built with part of Chinese loan facility.

Three hundred acres of land has been acquired for the project that is expected to take off before the end of the year, and it would take about 24 months to complete.

Dr. Yaw Akoto, Managing Director of BOST announced this during a courtesy call on Mr. Joseph Dofoyenah, Ahanta West District Chief Executive, at Agona-Nkwanta.

He said the terminal would receive LPG from the proposed Ghana Gas Facility at Atuabo for transportation to BOST branches in the country.

Dr. Akoto also paid a courtesy call on Nana Kwesi Aboagye VII, Chief of Pumpunie at Atwereboanda and visited the project site, accompanied by the DCE and officials of BOST.

Mr Dofoyenah said the terminal would be constructed with state of the art equipment and would be a “Flagship” for the Western Region.

He said the company was negotiating with the Lands Commission on the terms of payment of the land, which is estimated at 4 million Ghana Cedis.**
obeeme no está en línea   Reply With Quote
Old March 17th, 2012, 12:11 AM   #93
obeeme
Registered User
 
Join Date: Dec 2009
Posts: 460
Likes (Received): 20

Kosmos Energy Announces Further Appraisal Success at Enyenra Oil Field Offshore Ghana

Kosmos Energy announced today that the Enyenra-4A appraisal well, located in the Deepwater Tano Block offshore Ghana, has successfully encountered substantial light oil in multiple good quality reservoirs. Full analysis of well results, including wireline logs, fluid samples and reservoir pressures, indicate that the Enyenra-4A well encountered 32 meters (105 feet) of net oil pay.

The well is located approximately 7 kilometers (4.3 miles) south of the Enyenra-2A well and nearly 21 kilometers (13 miles) south of Enyenra-3A. Pressure data from the well demonstrates that the oil is in static communication with the other wells, indicating a continuous oil column of approximately 600 meters (1,970 feet).

Darrell McKenna, Chief Operating Officer, stated, "The Enyenra-4A well was a very positive result for Kosmos, as we confirmed a significant downdip extension of the field and encountered more net pay at this location than our pre drill expectations. We have now proved static communication in the reservoirs over 13 miles apart. Additional appraisal activities at the field will include the monitoring of pressure gauges, which have been deployed in multiple wells to determine dynamic communication. Success at Enyenra-4A further enhances the momentum behind our drive in submission of a plan of development."

The Ocean Olympia rig drilled Enyenra-4A to a total depth of 4,174 meters (13,695 feet) in water of 1,878 meters (6,160 feet). Prior to submitting a plan of development for the Tweneboa, Enyenra, and Ntomme project, which is expected in the third quarter of 2012, a drill stem test of the oil zone at the Ntomme-2A well on the Deepwater Tano Block will be performed. Injectivity tests are currently underway at Enyenra-4A to provide important information for the design of the water injection system.

Kosmos Energy currently holds an 18 percent interest in the Deepwater Tano Block offshore Ghana. The Company’s partners include Tullow Oil plc (49.95 percent), Anadarko Petroleum Corporation (18 percent), Sabre Oil & Gas Holdings Ltd. (4.05 percent), and the Ghana National Petroleum Corporation (10 percent carried). Kosmos Energy recently exercised a right to acquire the interest of Sabre Oil & Gas Holdings Ltd. in the Deepwater Tano Block. After closing of the transaction, the Company’s interest will increase to 22.05 percent.
obeeme no está en línea   Reply With Quote
Old March 20th, 2012, 12:26 AM   #94
obeeme
Registered User
 
Join Date: Dec 2009
Posts: 460
Likes (Received): 20

Virgin Atlantic launches 5th frequency flight at awards ceremony in Accra

As Virgin Atlantic celebrates its second year anniversary of operations in Ghana, the airline has announced that it will now fly 5 times a week between Accra and London. The announcement was made by Mr Nick Taylor, Regional Country Manager (West Africa) at a dinner and awards ceremony in Accra, to honour top trade agents and partners.

Mr Taylor and Mrs Tosan Woode, Head – Sales and Marketing (Ghana), were both excited about the new service expected to kick off on March 23. They described the addition as a much needed increase in flight frequencies to reflect the growing trust of travelers in the airline over the period.

The ceremony saw the presentation of Certificates to top trade agents including: Accra Air Travel Centre Ltd , BCD Travel Ghana , Doscar Travel and Tours Ltd , Eurotour Ghana Ltd, Kessben Travel and Tour Ltd , Keymeb Travel and Tours, Kumasi Travel Agency Ltd , Litina Travel and Tours Ltd, Satguru Travel and Tours Services and Skylife Travel and Tours Ltd . The rest were Skyresources Travel and Tours Ltd , Special T Travels Ltd , Stellar Travel Ghana Ltd, Sunlife Travel and Tours Ltd, Timewise Expo Travel and Tours , Travel Bureau Ltd , Travel House Ltd Ghana , Travel Matters Limited , Travel Zone Ltd Ghana ,and Yoshiken Travel and Tours .

Woodfields Energy And Cirrus Oil Limited, Chase Petroleum Oil Limited, Zenith Bank Ghana Limited, Akwaba Limited and Glico Group Of Companies Limited also received certificates as supportive corporate; while the Most Supportive Corporate Award went to PW Ghana Limited. Litina Travel & Tours Limited won the Most Improved Travel Agency Award starting with low but steady volumes of seat sales and capacity but within months of getting on board our platform, gradually grew to becoming the 3rd best performer with year to date revenues constantly hitting the top five in every category.

Other award winners were: Best In Class (Economy) – Kessben Travel & Tour Limited; Best In Class (Premium Economy) – Stellar Travel Ghana Limited; Best In Class (Upper Class) – Stellar Travel Ghana Limited; New Comers Award - Travel Zone Limited Ghana; Travel Agency of the Year – Kessben Travel & Tour Limited; and Country Managers Award – Doscar Travel & Tours Limited.

After the presentation of awards Chief John Adebanjo (Group Africa Representative Virgin) officially launched the 5th frequency flights with a short closing remarks and the popping of champagne.

In typical Virgin Atlantic style, guests were treated to a delightful menu of African, Chinese and continental dishes, drinks and cocktails. For starters, there was the choice of Goat pepper soup, Caesar salad, and brown and white bread rolls with butter. The main meal included sated beef jollof rice, plain rice with petit pois, moin moin, trio of swallow (mini eba, pounded yam or semo), efo riro, charcoal grilled chicken, fresh catfish soup and dodo under the African menu.

The continental menu included, cake of lamb and mashed potato with wine sauce, sole fish with sauce rose, homemade tagliatelle with fresh basil, and steamed mixed vegetables. While the Chinese menu included Egg and vegetable fried rice, Singapore fried noodles, beef in oyster sauce, and schezuan chicken. To seal off the gastronomical delight guests rounded it off with Tiger nut pudding, rum and mint flavored cocktail, chocolate mayonnaise sponge with hot chocolate sauce, and cheddar cheese and crackers for dessert.
obeeme no está en línea   Reply With Quote
Old March 21st, 2012, 12:42 AM   #95
obeeme
Registered User
 
Join Date: Dec 2009
Posts: 460
Likes (Received): 20

First National Grabs Universal Licence

First National Savings & Loans Limited (FNSL) is expected to commence full operations as a universal bank by June this year.

Komevor Tettegah, acting General Manager, FNSL, who made this known recently at the annual get-together and family awards for customers in Accra, said FNSL had attained all the necessary requirements to operate as a universal bank.

Noting that the company’s capital base grew from GH¢7 million to GH¢20 million, he added that the company’s partner investors increased the amount to GH¢60 million as required by the Bank of Ghana (BoG).

Mr. Tettegah said FNSL would expand its operations beyond Ghana in addition to entrenching its presence in the country.

“We aim at becoming a “People’s Bank” where our customers, such as traders, farmers, students, workers and small scale business entrepreneurs everywhere in Ghana, will be provided with efficient banking services”.

In all, 21 customers were awarded with special electrical appliances, souvenirs and special two-day treats at any Coconut Grove Regency hotel in the country.

The acting MD advised Ghanaians to develop a positive attitude towards local financial institutions to enable them grow and expand their businesses so as to create employment.

He further expressed worry about how Ghanaians chose to patronize the services of foreign banks over local financial institutions.

FNSL, among others, offers emergency commercial loans for clearing goods at the port, payroll loans for salaried workers, auto loans as well as the introduction of bullion van services for easy cash deposit by customers.

Mr. Tettegah noted that all branches of FNSL would be networked to engage in money transfer services.

Established in 2006, FNSL currently has 48 branches in all the 10 regions with a customer base of over 180,000.

It is poised to increase its branch network to 50 by the end of this year.
obeeme no está en línea   Reply With Quote
Old March 22nd, 2012, 06:54 AM   #96
obeeme
Registered User
 
Join Date: Dec 2009
Posts: 460
Likes (Received): 20

Saudi Airlines Cargo To Launch Freighters To Ghana

Saudi Airlines Cargo will launch a weekly freighter flight to Accra in Ghana, starting March 25.

The new service will use the airline’s B747 freighters, a statement from the company said.

“Ghana is an emerging market with enormous business potential for air cargo. The addition of this new destination will help us to increase our activities in Africa, where we already operate scheduled B747 freighters from Saudi Arabia to Nairobi, Lagos, Addis Ababa, N'djamena, Khartoum and Johannesburg," said Peter Scholten, vice president commercial at Saudi Airlines Cargo.

“The commencement of the new Saudi operation coincides with the opening of a new perishable cargo centre, maintaining the high quality of the fruit and vegetable supply chain. Together with the forthcoming construction of a major new cargo terminal and hub operation, opening up 11 West/Central African destinations with scheduled cargo feeder services, we see new opportunities for this new service to Accra,” he said.

Located in West Africa, Ghana's principal airport serves as the aviation hub of the sub-region. The country's export traffic consists mainly of perishables (fruit/vegetables), with bulk of over 2,000 tonnes per month destined for the European market, followed by the Middle Eastern market.

Saudi Airlines Cargo operates scheduled services with 12 freighters and sells the belly-capacity on 140 passenger aircraft for Saudi Arabian Airlines spanning a rapidly expanding global network of 225 destinations.

The cargo airline also provides cost -effective and practical worldwide charter flight solutions from a growing fleet of dedicated charter aircraft.
obeeme no está en línea   Reply With Quote
Old March 23rd, 2012, 11:15 PM   #97
obeeme
Registered User
 
Join Date: Dec 2009
Posts: 460
Likes (Received): 20

Newmont Ghana is the most outstanding corporate taxpayer

Newmont Gold Ghana Limited has been presented with the most outstanding taxpayer award for 2011, for its compliance and commitment to paying the right taxes due government.

In 2011, Newmont Ghana paid over $152 million (GH¢ 241 million) in taxes to the Internal Ghana Revenue Authority (GRA), and it included corporate tax, income tax, stabilisation levy and withholding tax.

The GRA therefore cited Newmont Ghana as “demonstrating good corporate citizenship in the prompt payment of its taxes,” a statement from Newmont Ghana said.

“We appreciate being recognized by the GRA for our commitment to this aspect of our business and we look forward to continue to work with the Government and affected communities to enhance the long-term benefits of our operations to Ghana and Ghanaians,” the statement quoted Mr Dave Schummer, Senior Vice President, Africa Operations as saying.

Meanwhile a study by Prof Ethan Kapstein, a renowned political economist and sustainable development expert, showed that in 2009, Newmont Ghana’s Ahafo Mine was a major contributor to Ghana's economy.

It said the Ahafo Mine alone generated nearly 10% of the nation's total exports (USD 528 MM), about 4.5% of its total foreign direct investment in 2009, directly and indirectly supported about USD 174m of Value Added…, created some 48,000 jobs in Ghana, and played a significant developmental role in the communities around the Ahafo mine.

“The Ahafo Mine also provided 99 local companies with nearly USD$ 6 million in contracts and thereby supported more than 400 jobs, not including direct mine employment,” it said.

In 2006, Newmont Ghana in partnership with 10 communities around the Ahafo Mine area signed an agreement to contribute US$1 per ounce of gold sold and 1% of annual net profit from its mining operation into a Fund for the sustainable development of the company’s host communities.

The Fund, the Newmont Ahafo Development Foundation (NADeF), has so far accumulated about US$8million for sustainable development projects including community libraries, schools, teachers’ quarters and micro-credit schemes the Ahafo Mine’s 10 host communities.

NADeF has awarded scholarships worth GHC2,026,279.01 to 2,335 tertiary and second cycle students from communities around Newmont’s operations pursuing various programs across the country.

The company has also instituted comprehensive social investment programs at all its project areas here in Ghana in the areas of Education, Health care, Infrastructure, Job training and Small business development.
obeeme no está en línea   Reply With Quote
Old March 24th, 2012, 08:30 PM   #98
obeeme
Registered User
 
Join Date: Dec 2009
Posts: 460
Likes (Received): 20

ACCESS Bank absorbs Intercontinental Bank

Access Bank (Ghana) Limited has announced that it has successfully completed the absorption of employees of Intercontinental Bank Ghana (“IBG”) following the Bank of Ghana approval on March 5, 2012, for the merger of the two banks into a single entity.

About 90% of IBG employees have accepted their absorption into Access Bank Ghana and are now fully absorbed into the combined entity.

Commenting on the employee absorption exercise, Mr. Dolapo Ogundimu, Managing Director of Access Bank Ghana said the bank was delighted that over 395 out of the total 448 employees of “IBG” employees “have successfully boarded the Access train”.

He said the step marks a significant milestone in re-shaping the business and accelerating its growth and expansion over the next few years.

“Although all IBG employees have been offered job opportunities with no diminution in their terms and conditions of service, we are aware that a few have not accepted the offer and have petitioned the National Labour Commission demanding severance pay. Access Bank has maintained a fair, objective and transparent process during the business combination, in line with international best practice. As such, the Bank remains committed to working with the Labour Commission and all other relevant bodies to uphold the laws of the land and address any residual issues arising from the merger”.

Mr. Ogundimu added that “there are enough jobs for everyone and therefore does not see the need to terminate anybody’s employment. Access Bank has in the course of the entire process been keen to ensure that no employee of “IBG” is worse off as a result of the merger.”

A statement issued by Access Bank said the “merger creates a formidable Ghanaian financial institution ranked amongst the top 7 in the banking industry by most metrics. With over 39 branch offices and 43 ATMs spread across the country, Access Bank Ghana is leveraging its geographical network to showcase its expertise in Treasury, Cash Management, Trade Finance and Technology driven banking solutions.”

“Last week the Bank completed its rebranding exercise at all the Intercontinental Bank branches across the country, and is currently deploying technology driven banking solutions to further enhance the quality of service at these locations. Banking hours have also been extended from 4pm to 5pm each day to afford customers more time during the day to transact business.”
obeeme no está en línea   Reply With Quote
Old March 27th, 2012, 08:54 AM   #99
obeeme
Registered User
 
Join Date: Dec 2009
Posts: 460
Likes (Received): 20

Dun & Bradstreet receives full license to operate in Ghana

The latest Credit Reference bureau Dun & Bradstreet is hoping to capitalize on its international experience to succeed in the market.

Dun & Bradstreet (D&B) received its full operational license from the Bank of Ghana last Friday, joining the likes of XDS Data and Hudson Price Data Solutions.

Credit Reference Bureaus usually store information on the credit worthiness of customers who borrow or do business with financial institutions such as banks non-bank financial institutions among others.

The fledgling industry is already faced with inaccurate data challenges but D&B is optimistic its inclusion will bring enough competition to sanitize the system.

In a statement released by the company and sent to Citi Business News, Dun & Bradstreet expressed its excitement about launching business operations in the Ghanaian market.

“The main objective of this credit bureau is to provide information on the credit repayment trends of individuals and companies. The credit bureau will allow financial institutions to make an inquiry or check on a consumer or commercial entity before approving any form of credit or deciding on whether to sustain the credit granted. The credit bureau aggregates information among participating member financial institutions to provide the credit decision-maker with a more complete risk profile to enhance their risk mitigation capabilities.

The credit bureau will become a key player in the lending business as it will provide financial institutions with a better risk management tool and the bank customers will be better evaluated on their credit worthiness.

From the experience of credit bureaus in other countries, it was found that over time, borrowers stand to benefit from faster credit applications processing, faster disbursement of loans, fairer assessment and better adjusted quantum according to their more informed assessments.

Credit bureaus have long existed and are considered an integral part of the credit approval processes in a majority of developed economies such as those in North and South America, Australasia, Europe and Asia. Countries like New Zealand and Hong Kong have adopted credit bureaus since the 1980s while bureaus in the U.S. go back to the 1960s. Within the African region, D&B has implemented bureaus in countries like Egypt, Nigeria and Libya.

“D&B is pleased to launch business operations in Ghana and will work on creating a sustainable financial infrastructure in Ghana.

Our experience with government and private credit bureaus across the world has facilitated us in building this robust bureau for Ghana”, says Miguel Llenas, Executive Vice President at D&B
obeeme no está en línea   Reply With Quote
Old March 27th, 2012, 08:56 AM   #100
obeeme
Registered User
 
Join Date: Dec 2009
Posts: 460
Likes (Received): 20

Ecobank profit for last year surges

Strong revenue growth has seen ECOBANK record an appreciable jump in its profit for last year.

Revenue shot-up by 30 percent as a result of good earnings from its business.

The bank saw a substantial growth in deposits, assets, loans advanced to customers and a huge leap in returns to shareholders.

Profit after tax went up by 20 percent to 72.3 million Ghana cedis.

Ecobank’s expenses however went up substantially due to some cost in opening new branches.

Samuel Ashitey Adjei Managing Director of ECOBANK attributed the revenue growth to “the three main business segments- corporate, domestic and capital.”

“I think all three segments contributed equally because we tried to balance performance."

He was hopeful the performance will be sustained this year because the business module remains virtually the same.
obeeme no está en línea   Reply With Quote


Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT +2. The time now is 01:15 PM.


Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
Feedback Buttons provided by Advanced Post Thanks / Like v3.2.5 (Pro) - vBulletin Mods & Addons Copyright © 2014 DragonByte Technologies Ltd.

vBulletin Optimisation provided by vB Optimise (Pro) - vBulletin Mods & Addons Copyright © 2014 DragonByte Technologies Ltd.

SkyscraperCity ☆ In Urbanity We trust ☆ about us | privacy policy | DMCA policy

Hosted by Blacksun, dedicated to this site too!
Forum server management by DaiTengu