Gov`t to restructure timber industry

The Government of Ghana is embarking on a number of policies, aimed at restructuring the timber industry, to make it the hub for tertiary processing of wood products in the sub-region, whilst eliminating illegal logging.
Among the policies embarked upon by the government include the intensification of its plantations development programme, through the implementation of the National Forest Plantation Development Programme (NFPDP), aimed at securing the raw material base of the timber industry.
This programme also seeks to fill the timber supply and demand gap in the country, while restoring degraded forest areas, in line with the country’s land policy.
Government is also aiming to embark on further domestic processing of plantation timber, to enable the country shift from the commodity market in wood products, to that of value-added processing industry.
The Minister for Lands, Forestry and Mines, Mrs. Esther Obeng Dapaah, made these known when she addressed a group of media practitioners in Accra, on the occasion of the launch of the first Timber Industry Awards, with the theme, “100 years of forestry; projecting excellence in a complex and challenging industry.”
According to her, government desirous of achieving its aim of making the country the gateway to Africa was leaving no stone unturned, in all sectors of the economy.
To this effect, she said, government had adopted a holistic approach to natural resource management, through the Natural Resource Environmental and Governance (NREG) programme, to strengthen natural resources, and environmental governance.
This, she said, would ensure that natural resources contribute to greater wealth and sustainable economic growth of the country.
The Chief Executive of the Forestry Commission of Ghana, Professor Nii Ashie Kotey, observed that even though the performance of his outfit was marred by lots of challenges, it had over the years made significant gains, and has thus contributed its quota to the socio-economic development of the country. “In spite of the many challenges confronting the Forestry Commission, in pursuit of its assigned responsibilities, the industry has stayed as a major foreign exchange earner, and a source of employment in the economy, over the last century, with figures rising and averaging around US$180 million annually,” he said.

Maritime Pollution Bill underway

Concerned about the environmental hazards on our waterways, the Ghana Maritime Authority (GMA) has taken a bold initiative to formulate a Maritime Pollution Bill to address the issue. The Bill that was finalized for consideration by the Government is being updated to include laws relating to new developments such as the oil and gas projects, including the new conventions recently adopted by the International Maritime Organisation (IMO). The Bill, if it becomes an Act would give the Authority the needed legal power to deal effectively with problems that may arise in the implementation of the oil and gas projects in the country. In addition to the Bill, a draft legislation on inland waterways based on the IMO is currently being finalized by the Authority for passage by Parliament. This draft legislation aims to create a regulatory framework for the enforcement of safety measures on the inland waterways of the country. This was disclosed in Accra by Professor Christopher Ameyaw Akumfi, Minister of Ports, Harbours and Railways at the celebration of the World Maritime Day by the GMA. The World Maritime Day which is celebrated by the International Maritime Community seeks to bring to the attention of the general public the challenges of the maritime industry and achievements realized through international trade. The theme for this year's celebration is “IMO, 60 years in Shipping Service”. The formulation of new policies by the Authority is to position itself to meet the challenges of the future, so as to make it competitive on the international market. The Authority, in collaboration with the Regional Maritime University has also instituted training programmes for seafarers to be trained on the basis of the IMO courses, and in accordance with relevant International Conventions, such as the IMO International Convention on Standards of Training, Certification and Watch keeping for seafarers (STCW). The Chief Advisor to President Kufuor, Mrs. Mary Chinery-Hesse, in her address urged the GMA to quickly submit the draft legal instruments and sanction regimes to enable Government introduce sanity in the shipping industry. Her concern stemmed from the fact that some players in the shipping industry were abusing the system by introducing unjustifiable charges on exporters and importers. “This trend, I must say is adversely affecting Government efforts aimed at making Ghana an investment destination in the sub-region”, she noted. She assured the Authority of government's continuous support in its quest to make the industry more effective.

Beware of milk products imported from China

The Food and Drugs Board (FDB) on Tuesday, in Accra, has issued a stern warning to consumers to beware of milk products imported into the country from China. The directive from the FDB was on the backdrop of the current food safety alert on contamination of milk products from China that contains melamine. Melamine is an industrial nitrogen chemical compound used to make plastic and sometimes used as a fertilizer. Several babies in China have fallen ill with some reported deaths, after suffering acute kidney failure, after been fed with formula milk contaminated with the industrial chemical melamine. The fatalities, according to BBC are far higher than was previously admitted by the Chinese authorities. The Chemical, melamine is manufactured by Sanlu, which is partly owned by New Zealand's Fonterra Cooperative. Affected products of Chinese origins, according to the FDB, include infant formulae powdered milk, liquid milk, candies, lollipops, cookies, cakes, milk tablets, yoghurt drinks, biscuits, toffees, chocolates, cream crackers and egg rolls, including any other product that contains milk as part of its ingredients which is of Chinese origin. According to the FDB, importers who might have shipped any of the affected products prior to this notice would have their goods confiscated and investigated at the port, before release to the owner. “When you are buying things, be careful and check the label embossed on it. We are not saying that every product from China is under suspicion, but what we are saying is that those milk products from China are under suspicion”, noted Mr. Emmanuel Kyeremateng Agyarko, Chief Executive Officer of the FDB, in an interaction with a group of media practitioners.

Lufthansa gets new General Manager

Lufthansa Passenger Airlines Ghana, over the weekend in Accra, introduced its new General Manager, Mr. Yannick Aplogan, to the public. His duties take effect from July 1st this year. Mr. Aplogan first joined the company (Lufthansa) in 1990, after the completion of his studies, and served in various functions in the operations department of the Charles-de-Gaulle airport in Paris. He had been with the company since then, until in 2002, when he crossed camp to join Swiss International Airlines, as General Manager in Doula, Cameroon, where he remained until June this year. Mr. Aplogan is French citizen, and hails from Benin, West Africa. “I am especially proud that Mr. Yannick Aplogan is heading the Lufthansa team in Ghana, having taken over the responsibility on July 1st. He brings in expertise from his past positions at Lufthansa, and as Swiss Country Manager in Douala. “I am sure that under his guidance, the Lufthansa team in Ghana will soar to new heights,” noted Mr. Herbert Reichle, Lufthansa General Manager Nigeria and Managing Director West Africa, when he officially introduced Mr. Aplogan to the public.

UT Financial Services goes public

23 September 2008Posted to the web 23 September 2008

UT Financial Services has at last launched its eagerly anticipated Initial Public Offer (IPO), to float 90, 293, 3000 ordinary shares, representing 40% shares of the company, on the Ghana Stock Exchange to raise some US$27 million.
The listing of the company on the exchange, will give it a market capitalisation of GH¢63,219,750, while making a strategic entry into the stock market, with a price earning ratio of 14.25, which is lower than all but one of the eight other financial services industry stocks, listed on the stock exchange. The offer is aimed at giving exceptional value to the Ghanaian public, and provides them the opportunity to share the success story, through the creation of wealth from dividend flow, and shareholder value creation.
By going public, P. K. Amoabeng and J. N. Nsonamoah, the two original shareholders of the company (50% each), will shed 40% of their stake, equivalent to 30,293,000 shares, with an additional 10,000,000 shares offer, to increase the capital of the economy.
The Chief Executive Officer (CEO) of UT Financial Services, Prince Kofi Amoabeng, reiterated that since the liquidity of the exchange left much to be desired, "the only way out, is to have a lot more shares, so that we can have shares trading everyday, so that free market determines the prices. That is why UT has taken the leap to enhance the liquidity of the shares, and the stock exchange in general."
He said UT was determined to build on its core values, of growing businesses and to meet the demands of the people, indicating that monies raised from the IPO, would be used to supplement their operations, strengthen their balance sheet, and expand its resource base, for funding of new loans.
Mr. Ken Ofori Atta, Managing Director of Data Bank, indicated that UT's decision to go public bore the testimony of the genius of the Ghanaian entrepreneur.
He intimated that the success of UT on the GSE, would be spurred greatly by the vibrant Ghanaian economy, together with the able and visionary leadership of the company, but not without a word of advice for his bosom friend (Kofi Amoabeng), when he quoted Shakespeare's:
There is a tide in the affairs of men. Which, taken at the flood, leads on to fortune; Omitted, all the voyage of their life Is bound in shallows and in miseries. On such a full sea are we now afloat, And we must take the current when it serves,
Or lose our ventures," as he moves out to the market with all its hostilities. UT Financial Services will be the first to trade on the newly-automated system of the GSE.
The superiority of UT's financial performance, compared to other financial services/firms, is reflected in the company's second place ranking in the Ghana Club 100, the elite grouping of the country's top 100 corporations, as assessed by the Ghana Investment Promotion Center.
UT was also adjudged the 2nd most respected company, in the maiden most respected CEO and company, while the CEO, Prince Kofi Amoabeng, was voted the most respected CEO by his peers.All these coupled with the strong year on performance of the company, has generated strong anticipation among stock market investors, and market watchers who have predicted that the IPO could be over-subscribed.

AngloGold Ashanti moves to protect Obuasi mine

23 September 2008Posted to the web 23 September 2008

Anglo Gold Ashanti has mounted a security operation with a combined team of Ghana Armed Forces and the Ghana Police Service which began at Obuasi in the Ashanti Region on Thursday to combat illegal miners.
The move by the company (Anglo Gold Ashanti) is to protect its Obuasi mine from the activities of illegal miners, popularly known as galamsay operators who have consistently been torpedoing the smooth operations of the company.
The activities of illegal miners in the Obuasi concession has rendered the company to incur loss running into millions of dollars.
"The Obuasi Mine has experienced ongoing security incidents relating to the activities of groups and individuals engaged in illegal mining in the area, including the invasion of our underground facilities, setting alight of cables, drilling and blasting without recourse to safety and environmental impacts, and the use of stolen explosives. These miners have destroyed national installations and company owned underground infrastructure, and threatened and brutalised AngloGold Ashanti personnel who attempt to interfere in their activities", noted John Owusu, Corporate Affairs Manager of AngloGold Ashanti in a statement issued and released in Accra.
According to Mr. Owusu, the activities of the illegal miners was posing dangers to the company's operations and its personnel, a situation he said can no more be tolerated.
"By way of a long-term response, AngloGold Ashanti intends to upgrade its security capacity, in order to be able to secure its property adequately in the future. Where required we will take appropriate action, in accordance with international human rights standards, to remove illegal miners from our premises and, if circumstances require it, hand them over to the police for action to be taken against them in terms of the law", he added.

Zoomlion to employ 4,000 health inspectors

22 September 2008Posted to the web 22 September 2008

The government's burden of bringing environmental sanitation to the doorsteps of the citizenry would be a thing of the past, as the nation's number one waste management experts, ZoomLion Ghana Limited (ZL), is recruiting 4,000 health inspectors, to ensure the realisation of this dream, to rid the country off filth.
The health inspectors, to be known as sanitation guards, would help environmental health workers in the country, in their quest to keep the communities clean.
The Communications Manager of ZL, Isabella Gyau Orhin, recently disclosed this at the launch of the national campaign for improved environmental sanitation at Nsawam, in the Eastern Region.
The recruitment of sanitation guards, according to the Communications Manager, was at the backdrop of falling environmental sanitation standards, which has resulted in the springing-up of many diseases in the country.
The campaign christened "Tin-ton-tan, ye ni efi to nkwanta a yapae" (literally meaning: we have forever parted ways with filth), aims at preventing diseases through improved sanitation in hospitals and homes.
It also seeks to conscientise Ghanaians, to eliminate filth in their various communities, whilst improving on their health and sanitary facilities.
The work of community health inspectors had over the years experienced some setbacks, which emanates from lack of resources (human and infrastructure) and funding.
It was therefore welcome news to the nation, as it was battling with controlling filth in the communities, and also sites for the dumping of waste. "At long last, when I sleep, I can close my eyes, because this initiative from ZoomLion is going to bring back the concept of communal labour in our various communities," recounted Nana Bo Ababio, Nsawamhene, who was Chairman of the occasion.
The national campaign on environmental sanitation was a collaborative effort, which involved various agencies, including the National Health Insurance Authority (NHIA), Ministry of Local Government and Rural Development (MLGRD), Ministry of Manpower and Employment/National Youth Employment Programme (MME/NYEP) and the Ministry of Health, and Ghana Health Services.
It is estimated by the World Health Organisation (WHO) that every hour, a hundred African children die from diarrhoea, and recommended that most lives could be saved through better access to sanitation and improved basic hygiene.
The Deputy Minister of Health, Mr. Abraham Dwuma Odoom, in his address, noted that nature was now paying back Ghanaians in their own coin, because of their negative activities on the environment.
"Today, the health of our people is in jeopardy, because we have over the years, taken the elements that sustain our life for granted. Through human activities, we have defiled the environment, and destroyed the purity and sanctity of these elements. We are now paying a heavy toll in terms of increase in the number of diseases and deaths," he said.He, therefore, urged Ghanaians to refrain from their negative activities on the environment, in order to ensure a clean sustainable development in the country.