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Ofori-Atta engages China to explore aviation sector

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In a significant move aimed at enhancing regional connectivity and boosting trade relations between Ghana and China, Finance Minister Ken Ofori-Atta has announced that Ghana is exploring a strategic partnership with China to establish direct flights between Accra and Guangzhou.

The direct flight route from Accra to Guangzhou is expected to streamline travel and trade activities, and foster closer economic ties between the two nations.

This announcement comes on the heels of Minister Ofori-Atta’s recent official visit to China, where discussions were held on strengthening bilateral relations and exploring avenues for cooperation in various sectors, including aviation. The aviation discussions are being co-led by Ghana’s Embassy in Beijing and the Ministry of Transport.

“We will be collaborating with a major player in China’s aviation industry to explore the provision of aviation services for the West African Region via a direct flight from Accra to Guangzhou to facilitate mobility and commerce between Ghana, the broader West African region, and China,” stated Minister Ofori-Atta in an exclusive interview with the Business & Financial Times.

This initiative aligns with Ghana’s broader economic strategy to leverage partnerships with key international players to drive economic growth and development. Direct flights between Accra and Guangzhou are poised to unlock new opportunities for trade, investment, and tourism, further solidifying Ghana’s position as a strategic hub in the region.

Minister Ofori-Atta further elaborated on the purpose of his delegation’s trip to China, emphasizing the importance of fostering a robust and enduring partnership between Ghana and China. He outlined key objectives, including securing financial support for Ghana’s economic recovery efforts and concluding external bilateral and commercial debt treatment under the G20 common framework.

The Minister commended China’s crucial role in facilitating Ghana’s engagements with international financial institutions, particularly highlighting China’s leadership as co-chair of the Official Creditor Committee (OCC) alongside France. He expressed gratitude for China’s commitment to expedite the completion of the Memorandum of Understanding (MoU) between Ghana and the OCC, a pivotal next step in Ghana’s debt treatment process.

Furthermore, Minister Ofori-Atta underscored the significance of engaging with Chinese businesses to attract foreign direct investment (FDI) into Ghana. He detailed fruitful discussions during the visit, focusing on areas such as infrastructure development, renewable energy projects, technology, aviation services, and industrial growth.

The Minister highlighted several notable outcomes of the trip, including commitments from Chinese authorities to support Ghana’s debt treatment process, discussions on how both countries can deepen collaboration in areas of mutual interests, and how Ghana stands to benefit even more from its longstanding relationship with the Asian country.

Shifting focus to Ghana’s economic outlook for 2024, Minister Ofori-Atta shared positive indicators such as declining inflation, stable currency performance, and increased growth projections. He reiterated the government’s commitment to implementing fiscal reforms and growth strategies aimed at stimulating the economy.

Looking ahead, the Minister outlined forthcoming initiatives, including the launch of a steering committee for the Ghana Mutual Prosperity Partnership, effective implementation of the 2024 Budget, and firm agreements with external creditors to complete Ghana’s Debt Treatment within the next few months.

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Ghana to enjoy 5G internet services from September – Communications Minister

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Minister for Communications and Digitalisation, Ursula Owusu-Ekuful has confirmed that 5G network service will be active in Ghana starting September 2024.

Appearing as a guest on Peace FM’s Kokrokoo morning show on Wednesday, March 20, 2024, the minister was emphatic in her response when the host, Kwame Sefa Kayi questioned her on when the 5th generation of mobile network service will be available for consumers in Ghana.

“Ghana will get a 5G internet connectivity in September 2024,” she stressed.

5G succeeds previous generations of 1G, 2G, 3G and 4G. It represents the latest advancement in wireless technology, offering significantly faster data speeds, lower latency, and increased capacity compared to its predecessors.

Ghana currently runs on 4G which is considered slow and outdated in the face of current technological advancement.

The minister’s confirmation comes on the back of a recent cut in internet services in Ghana and some other West African states.

The incident according to the National Communications Authority (NCA) is a result of some seismic activities which led to a cut in undersea fibre optic cables delivering internet to West Africa.

According to the NCA, the issue will take not less than five weeks to fix. Meanwhile, service providers such as telecommunication networks have switched to alternate sources to give their customers more stable network.

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We need to eat locally produced commodities – Chrysantus Akem –

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Programme Coordinator of Technology for African Agricultural Transformation (TAAT), Chrysantus Akem, has said it is about time Africa consumes food commodities that are locally manufactured.

According to him, towing this path will cut the huge sum of money that goes into the importation of foodstuffs, including rice and poultry, among others.

Speaking at the launch of TAAT Phase II in Accra on Wednesday, March 20, 2024, Mr Akem noted that about US$35 billion is spent every year on the importation of food.

“Eat what you produce and produce what you eat because right now, it is estimated that we are spending about US$35 billion every year importing foods. This has to stop. We have to make sure that these amounts are diverted to other sections of the economy instead of importing food like rice that we can grow,” he said.

Citing Ghana as an example, Chrysantus Akem stated that the government can focus on soybeans as oil can be extracted from this essential commodity for both local use and exportation.

He further pointed out that the TAAT Phase II focuses on five commodities including maize, soybeans, vegetables, and fish.

“Maize is a commodity we know is consumed across the country. The key thing that we’re bringing are high-yielding varieties that can yield 5 to 6 tonnes per hectare compared to the 1 to 2 tonnes per hectare that the varieties are yielding. In addition to that, we also want to encourage the consumption of pro-vitamin A meals so that we can move from food security to nutrition security. That’s the first commodity,” the TAAT Coordinator stated.

He added that, “the next one that we’re bringing in is soybean. Ghana grows a lot of soybeans. We want to focus on soybean to extract oil… The other commodity is vegetables. Vegetables are the new ones we are bringing in… and fish.”

The launch of the Phase II of the Technology for African Agricultural Transformation programme gives researchers, policymakers, farmers, donor partners, and all stakeholders in the agricultural value chain the opportunity to move closer towards achieving greater agricultural productivity and food security in the sub-region.

The initiative aims at supporting countries in the region to improve crop, livestock, and fish productivity.

TAAT Phase II is expected to expand access to adaptive and proven technologies to more than 40 million smallholder farmers across Africa by 2025, as well as, generate an additional 120 million tonnes of food.

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Government committed to paying GH¢6.5bn DACF arrears – Osei-Asare assures

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Outgoing Deputy Finance Minister, Abena Osei-Asare, has acknowledged that the government currently owed arrears due to be paid into the District Assemblies Common Fund (DACF).

She pledged that the government’s commitment to resolving the outstanding debt.

Benjamin Kpodo, Ho Central Member of Parliament, raised the issue of non-payment of statutory allocations into the fund, alleging that a total amount of GH¢6.5 billion was yet to be transmitted.

The MP, who is also the Deputy Ranking Member of the Local Government Committee of Parliament, highlighted that the Ministry of Finance’s delay in releasing funds, in violation of constitutional mandates for quarterly disbursements, has left the Common Fund significantly underfunded.

Speaking in Parliament during discussions on the proposed DACF distribution formula for 2024, Mr Kpodo stressed the urgent need for the government to fulfil its financial obligations to local authorities.

“The Ministry of Finance has been violating the Constitution. Article 252(2) clearly states that the disbursement should be done on a quarterly basis, which they were not doing. As we speak now, the Common Fund is being owed some GH¢3.5 billion over the past two years”, Mr Kpodo said.

“For 2023, the debt has again risen by another GH¢3 billion. So, I don’t know where the Ministry of Finance is keeping the money meant for the District Assemblies Common Fund,” he added.

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