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Ghana Is Now Africa’s Top Gold Producer

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Ghana has become the largest Gold producer in Africa, toppling South Africa in a recent data released by the World Bank.

The data copied to the Ghana News Agency said Ghana exported 158 tonnes of gold in 2018, about 15% increase over the previous year.

Ghana has thus dethroned South Africa, which produced 139.3 tonnes and returned to the high volumes of the 1980s.

It said mining firms operating in the country include Newmont Mining Corporation, Gold Fields, Anglogold Ashanti and Asanko Gold.
It noted rural communities in four regions of Ghana currently affected by the environmental damage and pollution associated with destructive artisanal mining and logging practices are to benefit from a scale-up of the Ghana Forest Investment Program.

Ghana Investment Opportunities – Mineral extraction and processing

The World Bank approved an additional financing of $19.39 million to the program last week.

The program is already implementing activities focusing on agricultural drivers of deforestation by working with cocoa farmers and communities to rehabilitate and protect forest reserves.

The additional financing operation aims at complementing these activities by piloting approaches to and benefits of reclamation of mining sites, which will reduce erosion currently polluting public watercourses and engage the private sector in plantation development to reduce pressure on natural forests.

China tops the global pact followed by Australia, Russia and the United States of America.

Source: GNA | Ghana

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Kasapreko Wins Outstanding Alcoholic Beverage Company At WABEA

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Kasapreko Company Limited (KCL), leading indigenous beverage manufacturing entity in Ghana, has been adjudged the Outstanding Alcoholic Beverage Company of the Year at the 2nd edition of West Africa Business Excellence Awards (WABEA).

WABEA 2019

The awards event held in Accra over the weekend saw Kasapreko beat competition from other giants in the alcoholic beverage manufacturing category in the sub-region.

The West Africa Business Excellence Awards (WABEA) provides a platform to recognize individuals and companies that play a significant role in the development of various sectors in the West Africa region to attract investors into West Africa.

The Managing Director, Kasapreko Company Limited, Richard Adjei, commenting on the awards, expressed his gratitude to WABEA for recognizing the great work that has been done over the years as a company to promote business growth and expand the economy.

"We at Kasapreko, this award stands as another landmark and a testimony that we are doing something right. It also serves as a motivation for us to do more as people are looking up to us to succeed so that they can also expand their business," he said.

KCL, the only indigenous beverage manufacturing company with ISO Certification and a member of Ghana Club 100, has won several awards both locally and internationally, including being awarded recently by Ghana revenue Authority (GRA) as the Largest Tax Payer of the Year.

Other recent awards include; “Young Manufacturer of the Year 2018” to Mr. Richard Adjei, CEO of KCL, and “Export Manufacturing Company of the Year” at Ghana Manufacturing Awards.

Mr. Gerald Bonsu, Commercial Director of Kasapreko, speaking to the media after the awards indicated that the company is very grateful for such an award and it is not for Kasapreko but for Ghana as well.
"I thank management and staff of Kasapreko Company limited for the hard work set in place to be recognized not only in Ghana but beyond," he added.

The flagship brand product of KCL, Alomo Bitters is in its 20th anniversary. Alomo Bitters is scientifically proven herbal alcoholic drink that has met all International standards and is selling in many countries across the globe.

KCL's mission is to be a multinational company creating lasting value for stakeholders by producing diversified alcoholic and non-alcoholic beverages from herbal and other traditional blends using first class technology.

Kasapreko is a total beverage company, having on its product line different products such as; mineral water, wine, cider, liquor and whiskey.

The One District One Factory (1D1F) initiative by government has recently adopted Kasapreko's new US$20 million factory expansion project in Kumasi to create jobs and help improve living standard of people.

Kasapreko's products are currently selling in several African countries including, Nigeria, Togo, Benin, Cameroon and Liberia. KCL has also been certified by the Food and Drugs Authority (FDA), of New York to sell their products in malls and shopping centre all over America and on flights as well.

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Government Will Engage Private Sector To Drive Technological Development – Dr. Bawumia

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The Vice President, Dr. Mahamudu Bawumia has reiterated that government will engage the private sector to drive the technological needs of the country.

This, he said will create competition to enable the private sector deliver at a reasonable cost.

Dr. Bawumia was speaking at the Third Africa Leadership Conference organized by the International Advertising Association(IAA) in Accra.

According to him, “the Nana Led government believes in creating the perfect atmosphere for the private sector to develop the technology needed to drive economic development”.

Dr. Bawumia explained that government must play a limited role in competing directly with the private sector but must make the environment comfortable for the private sector to innovate.

This year’s conference which was held under the theme ‘Technology Trends versus consumer choice brought together participants from the advertising industry across the world.

Dr. Bawumia used Ghana’s recent achievements in the technology space as a good example that African countries can emulate by reserving the area for the private sector.

Recounting how Ghana has used technology in recent times to solve some challenges at the ports and in the health sector, Dr. Bawumia encouraged African countries to pool their resources to solve common problems since most of them are trans-border.

He maintained that the Nana Addo government is ready to partner other African countries on the continent to drive economic changes through technology.

Source: GhanaWeb.

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Cultivation Of 200-Acre Avocado Plantation Begins In Abuakwa Under 1D1F.

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A 200-acre avocado plantation is under cultivation in Abuakwa in the Eastern Region, the first phase of an agro-processing project under the One-District-One-Factory (1D1F) programme.

Project champions, Akuapem Gold Agro Processing Limited, has targeted to cultivate 2,000 acres of three varieties of avocado within the next year and scale it up to 10,000 acres within the next five years

The construction of the factory, the second phase of the agro project, has started. The factory will have a processing capacity of six to eight tonnes per hour, according to the Chairman of Akuapem Gold, Albert Wilson.

On Monday, May 20, Okyehene, Osagyefuo Amoatia Ofori Panin, led top dignitaries in the agric-value chain to inaugurate the avocado cultivation and process project.

Minister for Agriculture, Dr Owusu Afriyie Akoto; National Coordinator of the 1D1F, Gifty Ohene-Konadu; CEO of the Middle Belt Development Authority, Joe Danquah among others were among those present.

Speaking at the project inauguration, Mr Wilson said the long-term objectives of the wholly-owned Ghanaian company fits within the targets of the government’s 1D1F programme.

“The project rationale is many folds and the realization of the corporate goals of Akuapen Gold will mean a significant contribution to the social economic development of Ghana.

“Among the several significant benefits that nation will derive from the company are: employment generation both direct and indirect, assured market for similar crop producers within the catchment area and beyond poverty reduction, positive impact of our inter-crops for the food security needs of the country, sustainable foreign exchange reserves from exports, contribution to the training of rural youth in agriculture…the aggregate of all these contribute to real development,” he said.

The project is expected to create least 5,000 direct and indirect jobs when it becomes fully functional.

The siting of the project in Abuakwa in the Eastern Region, Mr Wilson explained is because of the favourable agro-environment for the cultivation of avocado.

The Agric Minister said avocado, which he called “a wonder crop” is fast gaining a reputation as a new commercial crop globally and touted the Abuakwa avocado project as timely.

“Avocado is a crop of the future…the total of world trade in avocado is over $16 billion and it’s growing at a very fast rate at nearly 10% per annum,” the Minister said.

Akuapem Gold’s avocado cultivation and processing project is being funded by Ghana Exim Bank

1D1F progress so far

According to figures presented by the government, some 181 factories have so far been rolled out under the 1D1F programme since its launch in 2017.

Fifty-seven of them are currently operating, while 22 are still under construction. Government says 33 factories that are being financed by seven local banks will commence implementation before the end of 2019.

Another 56 being small-scale processing facilities and financed by the African Development Bank (AfDB), will commence before the end of 2019. $200,000 has been earmarked for each of the 56 projects.

The 56 small-scale processing facilities will be owned by youth groups who will be trained to manage the facilities.

Source: GhanaWeb

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Gov’t Considering Tax On Mobile Money – George Andah

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Deputy Minister of Communications George Andah has said that government is strongly considering slapping a tax on the fees and commissions mobile money companies earn from individual transactions.

Mr. Andah speaking at the Ghana Digital Roadmap levent ast week said it should be possible for government to explore revenue opportunities in the mobile money ecosystem suggesting that the mobile money companies should brace up for possible taxation.

While taxing mobile money has been a thorny issue, Mr. Andah’s comments suggest that government is purposely targeting the income the mobile money companies earn from doing individual transactions.

“I think the focus is to understand the value of money that the mobile money operators are making. So, the transactions, cash in-cash out, those monies that the operators are making, government should be able to tax that money.

“As to whether the actual transactions being made by subscribers should be taxed, we have not started that discussion. But as far as the money they are making from subscribers for transactions they are doing and they are not reporting that as taxable income, we should be able to understand and tax them,” the Deputy Minister said.

The Deputy Minister’s suggestion comes on the back of weak domestic revenue performance, pushing government to look at other sources to boost revenue.

The use of mobile money continues to grow every day with last year data mobile money grew by 43.2 percent from the previous year, with transaction value hitting over GH¢233billion.

It has even overtaken cheques as the largest payment system in the country, as the value of cheque transactions last year was GH¢203 billion – a sure sign of the looming threats the OBG report has highlighted.

Source: CitiBusinessNews

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