Vice President, Dr Mahamudu Bawumia, has challenged the secretariat of the African Continental Free Trade Agreement (AfCFTA) to move quickly to implement ‘Open skies’ across member countries to facilitate easy movement of goods and services within member countries. According to him, Africans are anxious to see the successful implementation of the trade pact since it’s a game changer for the development of African economies. The Vice President also charged African countries that are yet to sign and ratify the agreement to do so immediately. Speaking at the maiden ‘Africa Trade Roundtable’ on the implementation of the African Continental Free Trade Area organized by the Centre for African Legal Studies at the UPSA Law School, Dr. Bawumia said the successful implementation will not only boost the economic integration of African countries, but it will also be key to the long-term survival of African businesses recovering from the adverse effects of the pandemic. “I would like to ask the AfCFTA secretariat to move quickly. Africans don’t want to see this as a paper once again signed. We want to see implementation, we want to see that this agreement is bringing real change. And for that matter, I’m challenging the AfCFTA secretariat and the Secretary General to move quickly, for example the implementation of ‘open skies’ across the African continent, so that we can fly easily among ourselves. This is in the context of service protocol,” he noted. The Vice President also said the immense benefits of AfCFTA would not be fully achieved if AU Member States, and other stakeholders, such as the private sector, civil society organisation and the academic community, do not put in complimentary measures for the successful implementation of the AfCFTA. Secretary General of the African Continental Free Trade Agreement, Wamkele Mene, said “we have now for the first time established a forum for resolution of trade investment, intellectual property right dispute. Through this protocol on dispute settlement, it will function like any other court of law.” “A complainant can bring their dispute and the dispute settlement body will consider the merit of the dispute and we will establish a panel which is what we call the court of first instincts. If you don’t like the ruling of the panel, you have a right to take it on a review,” he stated. The ‘Africa Trade Roundtable’ on the implementation of the African Continental Free Trade Area brought together intra-African trade experts, government officials, international trade and commercial law experts to discuss pertinent issues, arising out of the implementation of AfCFTA. Source: MyJoyOnline
Under the theme “Ghana’s Brown Gold: Sustaining Investments & Leveraging AfCFTA”, the event is purposed to highlight the opportunities along the cocoa value chain that can be leveraged by investors, as well as sensitize industry players on valuable commercial opportunities offered by the African Continental Free Trade Agreement (AfCFTA). Along with key stakeholders such as the Ghana Cocoa Board (COCOBOD), Cocoa Value Addition Artisans Association of Ghana (COVAAAGH), Niche Cocoa Industry Ltd, their deliberations will border on the current policy interventions being rolled out by government to foster the growth of the sector, and how the sector can be further enhanced. By generating about US$2 billion annually in foreign exchange, cocoa continues to play an important role in Ghana’s economy, serving as a major contributor to government’s revenue. The industry employs about 800,000 farm families and has grossly expanded economic activities in rural communities. In spite of the immense contribution of this agricultural commodity, the issue of ‘cocoa value addition’ has lingered on for years. Successive governments have thus, made it a national goal in their bid to enhance earnings from the industry, in order to optimize the vast potential of the cocoa value chain. According to the CEO of GIPC, Yofi Grant, the volatility of cocoa prices in the international market, makes it imperative for industry players to add value to cocoa produce. He further opines that, while Ghana is open to welcoming more investors into the industry, there is concerted effort in partnering investors seeking to industrialize the cocoa sector and add value to the cocoa beans. Meanwhile, Cocobod has stressed the need for multi-stakeholder partnerships in advancing the cocoa industry, as they seek joint efforts for planting and harvesting, purchases, collection and bagging, haulage, warehousing (partially) pests and disease control, research and development and external marketing, quality assurance, and processing. The GIPC’s Cocoa Value Chain Investment Meeting will therefore encourage business-to-business engagements between local and foreign industry players, in upscaling the sector.
She said there is the need to begin teaching innovation at the lower levels of education up to the university and a departure from the ’chew and pour” system to develop a framework that will enable the students to explore. Miss Anatu added that universities should begin to look at designing programmes that are marketable to the business community. “Our society is a reflection of what you put in,“ she emphasis. She said this at the first in a series of innovation seminars organized by the Innovation Communication Department of the University for Development Studies (UDS) Nyankpala. According to her, innovative technology creates new knowledge that enables one to create jobs and maximises time. Miss Anatu said another problem is politicians lack the expertise to lead the quest towards developing the environment for business to strive. She, however, called for collaboration between entrepreneurs to build big brands that can compete with the rest of the world. Miss Anatu called on governments to develop business hubs to unearth new talents by teaching the youth about innovative businesses, support them with startup funds. Source: MyJoyOnline
However, the country continued to enjoy trade surplus since first achieving that in 2018. The trade balance that is the difference between exports and imports stood at $759 million in April 2021. Compared to same period last year, the trade balance was $1.0 billion, that is equivalent to 1.3% of GDP Total exports was estimated at $5.13 billion in the first four months of this year, whilst total imports including oil stood at $4.37 billion. For exports, the country earned $1.8 billion from gold, $1.2 billion from cocoa and $1.14 billion from oil respectively. Oil had witnessed growth in exports because of the increase in oil prices, which is hovering around $65 on the international market. Ghana’s Gross International Reserves however hit $10.9 billion in April 2021, from $8.6 billion recorded in December 2020. Ghana records trade surplus of $2bn in 2020 Despite the impact of coronavirus pandemic on global economies, Ghana recorded a trade surplus of $2.015 billion in 2020, data from the Bank of Ghana has revealed. This was equivalent to 3.0% of Gross Domestic Product. According to the Bank of Ghana’s January Summary of Economic and Financial Data, total exports was estimated at $14.45 billion, whilst total imports was $12.43 billion. But comparing it to 2019, the country earned $15.6 billion from exports, whereas imports was $13.4 billion. Source: MyJoyOnline
That is according to the Member of Parliament for Kwesimintsim and Vice Chairman of the Select Committee on Education, Dr Prince Hamid Armah. Contributing to a statement on the floor of Parliament, Dr Armah stated the jobs and skills project currently being implemented by the government will ensure the training of master craftsmen and women, as well as apprentices who will be supported financially to create jobs and to boost the economy. Even though TVET has the potential to transform Ghana’s economy, the Kwesimintsim law maker said governments over the years have paid little attention to the sector. “Mr Speaker, if you look at our school system, there are two pathways, the grammar type and the TVET sector. Yet we have focused attention over the years on the grammar type at the expense of TVET. There has been serious and significant investment in the Grammar type without a commensurate investment in TVET,” he stated. He noted that the resplendent attires worn by the law makers are handiworks of products of TVET and a lot could be achieved by them if they are given the needed support. He said given the “pervasive influence” of TVET on the economy and its potential to address unemployment issues, it is important to strengthen the TVET service provision, something, he said the government has started doing. “Quite remarkably, the NPP government, under the leadership of his President Akufo-Addo, has since 2017 initiated several policy interventions to address these problems.” He cited the passage of the Pre-tertiary Education Act, which he said will now streamline all activities of pre-tertiary TVET institutions and bring them under the Ministry of Education. This will also help to ensure standardization of all TVET education and certification, he pointed out. Dr Armah, who is also the immediate past Director General of the National Council for Curriculum and Assessment, (NaCCA), cited the apparent confusion in the pathways for TVET as a major disincentive for students. Unlike the grammar type students who have a clearer pathway right from primary, senior high, to tertiary, that of TVET is a little “checkered and cumbersome,” Dr Armah noted. “There is the need for us to align the current national vocational training qualification to the national qualification training framework for the grammar type so that there can be a direct link so that if one decides to move from stenography into the grammar type school, for example, you know exactly where the person can start from,” he stated. He was happy the Education Ministry has initiated the process of developing a national qualification process to fill in the gaps. Source: Myjoyonline.com
Accra, Ghana, 29 July 2021 – Mövenpick Ambassador Hotel Accra, as part of its 10th year anniversary celebration, embarked on a blood donation drive in collaboration with the Accra Technical University to boost up the National Blood Bank’s blood supply. Recently, the Ghana National Blood Service (NBS) has lamented on shortfalls in achieving a hundred percent voluntary blood donations nationwide. The COVID-19 pandemic has been noted as a key contributing factor in the ongoing struggle to receive voluntary blood donations. However, Mr. Victor Israel, Donor Recruitment Officer with the NBS, cited the importance of sensitising the public and educating them on the values of donating blood. “Blood donation is priceless”, he said. “You cannot quantify health. Once you donate, the first thing you receive is the health check-up to check if the donor has enough blood. They are screened for health-related issues and have their blood pressure checked as well so, the benefits, apart from the core value of saving a life, are endless”. The upscale hotel, located in Accra Central, undertakes blood donation annually with its team members under its strategic corporate social responsibility initiatives, drawing on the hotel’s mandate to encourage mindful sustainability and community welfare. “Not only are we intimately involved in the lives of our guests, we are committed to the welfare of communities within which we find ourselves”, said Deborah Lee-Ann Sivertsen, General Manager of the Mövenpick Ambassador Hotel Accra. “Seeing how these students have turned out for today’s exercise reminds me of what I was like back in school as well. They, along with our team members, are lifesavers and their desire to donate blood goes a long way to save the lives of friends, family and citizens at large. Making moments with those in need is always our collective goal”, she said. Over a hundred pints of blood were gathered after the successful exercise and to thank donors for their generosity, goodie bags were distributed containing non-perishable foods, stationery and t-shirts from the hotel as well as the Ghana National Blood Service. The Mövenpick Ambassador Hotel Accra recently launched its 10-year anniversary celebrating a decade of ‘doing the ordinary in extraordinary ways’. After the Ambassador Hotel, completely rebuilt under the global Swiss brand reopened in 2011, it has remained a beacon of excellence in the hospitality sector of Ghana hosting several high-level delegations and events while maintaining their health and safety as a priority. The hotel will continue to roll out a series of events leading up to the climax of the anniversary in November giving people the opportunity to be up close and personal with the brand whilst winning several prizes, enjoying offers and having dreams come true. For further information, please contact: Theodora M. Yebuah Asst. Marketing Manager Write an Email About Mövenpick Hotels & Resorts: Mövenpick Hotels & Resorts makes moments by doing ordinary things in an extraordinary way. Providing an upscale, relaxed and uncomplicated guest experience, Mövenpick recognises that small gestures make a big difference. Whether it is chocolate hour every afternoon, customised sleep technology to ensure a restful night or specially created fun and healthy kids’ menus, Mövenpick creates a human and warm environment for guests, business partners and employees. Committed to sustainable practices and caring for its local communities, Mövenpick is the most Green Globe certified hotel brand in the world. Founded in Switzerland in 1973, but with a heritage of food and beverage excellence stretching back to the 1940s, Mövenpick holds a growing portfolio of more than 80 hotels in 24 countries. Mövenpick is part of AccorHotels, a world-leading travel and lifestyle group which invites travellers to feel welcome at more than 4,500 hotels, resorts and residences, along with some 10,000 of the finest private homes around the globe.