Kofi Ahovi

NATIONAL MINING POLICY READY BY: JAMES DEKU The Minister for lands and natural resources, Mike Hammah has disclosed that the draft national mining policy which seeks to ensure that mining results a win-win situation for government, local communities and investors is being finalized for cabinet consideration. The Minister who revealed this at the maiden national mining forum organized last week in Accra indicated that this intervention by the ministry is to ensure that mining contributes sustainably to Ghana’s development efforts. He stressed that to complement the mining policy, specific and targeted policies are being initiated to promote diversification of minerals development with greater potential for linkages with other sectors of the economy. He cited the successful implementation of the Extractive Industries Transparency Initiative (EITI), through the publication of revenue flows from the sector as creating an environment for the public to pose the right questions to the ...

By Fred SARPONG The annual inflation (year-on-year) as recorded by the Consumer Price Index (CPI) went up to 9.4% in June 2012, from 9.3% in May 2012, according to Kofi Agyeman-Duah, the acting Deputy Government Statistician in charge of operation. The June 2012 inflation rate recorded 0.1 % points higher than that of the May figure of 9.3%. The CPI measures changes over time in the general price level of goods and services that households acquire for the purpose of consumption. The monthly change for June 2012 was 1.4% which was 0.6 % lower than that of May 2012, which had 2.0%. Negative monthly rates recorded in August, September and October last year and these are as a result of seasonal changes in food prices. The non-food group remains the major contributor to the upward pressure on the general price level. The group recorded a year-on-year inflation rate of 11.9% in June 2012. The non-food group, with a combined weight of 55.09%, had six sub-groups recording year-on-...

By Ebenezer SABUTEY The Ghana Housing Finance Association is collaborating with the Ministry of Water Resources, Works and Housing to have a law on Condominium property in the country. Minister of Water Resources, Works and Housing, E.T Mensah, disclosing this at the meet-the-press series organized by the Ministry of Information in Accra, noted that the ministry is collaborating with its stakeholders to speed up the process to have the legislation enacted into law as soon as possible. E.T Mensah said the ministry has constituted a committee comprising all relevant agencies to revise the country’s building regulations with the aim to provide the country with a building code that will conform to current international best practices and standards. Answering a question posed to him on the current state of the Rent Control Department, he said he has set up a committee to go through the proposed rent law which will enhance the country’s rental structure. “The new law will also be inv...

Delta Air Lines will begin offering in-flight Internet service on its longhaul service to Ghana in early 2013. Delta will install the Wi-Fi service in its international fleet of more than 150 aircraft, which includes Boeing 777, 767, 747, Airbus 330 and transoceanic Boeing 757 aircraft in early 2013. The expanded Wi-Fi service will use satellites to provide coverage internationally and will complement the existing air-to-ground service already provided by Gogo for aircraft flying within the domestic U.S. Delta already operates the world’s largest Wi-Fi-equipped fleet of aircraft with more than 3,000 flights daily, including its entire fleet of 550 domestic mainline aircraft. More than 800 Delta aircraft, including all Delta Connection two-class regional jets, are equipped with in-flight Wi-Fi service offering more than 400,000 customers per day access to the internet above 10,000 feet. The international service will use high-bandwidth Ku-band capacity satellites to provide glo...

A PUBLIC HEALTH ACT AT LAST The long awaited time has come. Finally, Ghana now has legislation in place to control the use of tobacco and its related products in the country. Thanks to the activism of civil society groups and individuals working in the health sector who ensured that the dream of Ghana having laws in place to check public smoking became a reality. It has been a long fight straddling over eight years between the various arms of government that deals with health related issues, legislative drafting, Parliament, and organizations like the Vision for Alternative Development (VALD), Media Alliance in Tobacco Control (MATCO), Coalition of NGOs in Health (CNH) and the Coalition of NGOs in Tobacco Control (CNTC) and sections of the general public and Ghana’s Tobacco Ambassador, Jeorge Kingson. Now Ghana has a law on tobacco use and therefore joins the increasing number of countries which are conforming to the provisions of the World Health Organization’s Framewor...

DE Lage Landen International B.V, a Dutch company with expertise in global leasing and business and consumer finance solutions, has launched its operations in Ghana. With its core business including leasing anything from trailers, medical, agricultural and construction equipment, officials of the company, which is a fully-owned subsidiary of Rabobank Group of the Netherlands, say Ghana is the major step to reaching the African market. To make its presence felt particularly in the automobile industry, the-company is partnering with Rainbow Transport International Limited, a Ghanaian company. At a launching ceremony organised by the Ghana Netherlands Chamber of Commerce, Carl van Zelderen, International Remarketing Manager of the company, said the company's decision to come to Ghana, among other considerations, was to establish its presence in Africa. "We have a very broad portfolio of equipment from dental, agriculture, construction and office equipment for lease," h...

By Jeorge Wilson Kingson Parliament last week amended the Internal Revenue Act to bring into existence the Internal Revenue (Tax Amnesty) Act, 2011. The purpose of the Bill is to grant tax amnesty to persons who have failed to file tax returns or pay taxes as required under the Internal Revenue Act, 2000 (Act 592). Such persons are to be granted amnesty from paying penalties and interests in respect of taxes due payable. The new law specifies the categories of persons who can benefit from the tax amnesty, including persons who register with the Ghana Revenue Authority or the Registrar General’s Department, those who submit returns or amended returns and those who pay taxes assessed and taxes outstanding for the qualifying period. It also provide for the scope of the provision of the amnesty. It makes provision for a tax amnesty for persons who have previously registered with the GRA but have not renewed the registration. It further provide an amnesty for persons who have register...

By Ebenezer SABUTEY As Ghana maintains its tier 2 rating status on human trafficking, according to the 2011 USA Trafficking in Persons Report, it is making additional remarkable accomplishments which include the Ministry of Women and Children’s Affairs national plan of action on human trafficking, currently under review by a committee set up by the ministry. Human trafficking in the country recorded a total of 110 cases under the previous year, with 85under investigation, three persons prosecuted so far and three others convicted, facilitated by the ministry. Juliana Azumah Mensah, Minister for Women and Children’s Affairs, disclosed in an interview that human trafficking is estimated to be the third most profitable illegal economic business, in addition to illicit drugs and arms trafficking. International Labour Organisation (ILO), a global alliance against Forced Labor 2005, estimates that US$32billion total annual profits are generated by the human trafficking industry. US$1...

Gold Coast Securities, a leading financial advisory and investment banking firm, has been awarded the Investment Advisor –Gold Award of the year 2011 at the Ghana Investment Awards held in Accra last weekend. The company has been recognized by Premier Networking Investment Club, organisers of the awards for the contribution made to creating and distributing expert and productive financial advice. Gold Coast Securities is a firm that serves the needs of high and low income individuals, families, businesses and institutions. Each financial solution is tailored to fit unique, individual and often complex needs. Their capabilities have been developed through time and strength. Gold Coast Securities throughout its 19 years of existence has achieved a track record of discipline and integrity in clients’ transactions. Mr. Seth Asante, Managing Director stated: "The awards highlight our outstanding performance across the professional services spectrum and celebrate the best adviso...