Author Archives: Joshua Amponsem

DEAL 2017 to Spur Amusement Industry in Africa.

DEAL 2017

African millennials are changing their consumer spending patterns, from markets to malls, where they can eat, socialize and get entertained at Family Entertainment Centers (FEC) apart from shopping. Also there have been key amusement parks in Egypt, Nigeria, Tunisia and South Africa which have enticed people around the African region. DEAL 2017 will bring to Africa the largest show in the amusement industry and will provide an effective platform for the stakeholders within the African entertainment and amusement sector, as per International Expo Consults – the organizers of the show. In the wake of growing developments in the African region, it is essential for shows like DEAL to bring key players of the amusement and leisure industry to converge at a focal point to showcase ingenious products which can benefit the market. African tourism has seen a boost is simultaneous to the economic growth being experienced across many parts of the continent. Reports predict that direct contribution of Travel & Tourism to GDP will increase by 4.8% per annum, to USD121.3bn which is approximately 3.2% of GDP by 2026.

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EBAFOSA calls for all inclusive climate action towards food security in Ghana

EBAFOSA

Accra, Monday 20, 2017 — The Ecosystem Based Adaption for Food Security Assembly (EBAFOSA; www.ebafosa.org), established under the auspices of the United Nations Environmental Programme will join the Ministry of Food and Agriculture, and the Ministry for Environment, Science, Technology and Innovation to launch the all-inclusive pan-African framework on food security in Ghana on the 3RD of March, 2017 at the University of Ghana (ISSER Auditorium) from 8:30 to 12:30 pm. The event is expected to bring together key stakeholders in all areas– public and private sectors, educational and research institutions, individuals publics/citizens, community based organizations, international intergovernmental organizations, NGOs, civil society groups, etc. to collaborate in developing and implementing policy solutions to upscale Ecosystem Based Adaptation – driven agriculture and its value chain improvements toward ensuring sustainable inclusive growth in Ghana.

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Clean Energy West Africa Summit Confirms Workshop for Ecowas-Based Clean Energy Start-Ups

In partnership with the Climate Innovation Center, Ghana, the Clean Energy West Africa Summit will host the first incubator workshop in April which will look at how entrepreneurs can build, develop and sustain clean energy businesses.

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Drought is Driving Food Insecurity in East Africa, Says FAO

Strong El Niño weather event that ended only last year and poor erratic rainfall in recent months is driving food prices high causing food insecurity in East Africa region. Local prices of maize, sorghum and other cereals are near or at record levels in swathes of Ethiopia, Kenya, Somalia, South Sudan, Uganda and the United Republic of Tanzania, according to the latest Food Price Monitoring and Analysis Bulletin (FPMA).  Prices of staple cereals have doubled in some town markets within the region. According to FAO senior economist and coordinator of the Global Information and Early Warning System, Mario Zappacosta, “Sharply increasing prices are severely constraining food access for large numbers of households with alarming consequences in terms of food insecurity.”

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IMF Report Indicates Drought in Somalia will decelerate Economic Activities in 2017.

drought in somaliaSomalia has marked important milestones in rebuilding its economy and normalizing relations with international financial institutions, over the past five years. However, IMF’s 2016 IV consultation shows that impact of drought in Somalia will decelerate its economic growth from 3.4 percent to 2.5 percent.

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WWD: A Call for Wetlands Protection.

Happy World Wetlands Day (WWD) to everyone who works to protect global wetlands. Wetlands are the link between land and water, and are some of the most productive ecosystems in the world. Some common names for different types of wetlands are swamp, marsh and bog. To be called a wetland, an area must be filled or soaked with water at least part of the year. As wetlands are continuously threatened by human activities, this is a day to spread awareness on the importance of wetlands and call on more people to join hands in protecting wetlands.

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Things to Look Out for in Choosing a Credit Repair Company

Keeping a good score on your credit history has long been a necessity in progressing financially through many diverse financial services. Credit Repair has then be a solution to keeping a clean credit history and maintaining a good reputation. However, these companies could also jeopardize your legality to credit records. The importance of hiring a credit repair company should first of all focus keeping a legal credit history and also to have a good credit score with no irrelevant information.

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Uganda: Karuma Hydro Power Project Sees Green Light.

The project which is being executed by Uganda Electricity Generation Company (UGECL) and a Chinese company Sinohydro Corporation – as contractor, was anticipated to produce 600MW of hydropower was paused due to recognized cracks in the dam section which posed threat to the project. Stakeholders partnered in finding teams of experts, both local and international to get a solution to the challenge. After several consultations, concrete works have resumed at the project site. Key inputs from the experts included reducing the temperature of the concrete during placement as well as improvement on the placement methods, which demanded the use of agitator trucks. Following that, a cooling plant has been installed on site to ensure concrete is placed at 20 degrees Celsius. Currently, the contractor, Sinohydro, has completed over 95% of the tunneling excavation and is currently concreting the tunnel.

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Kenya to hold Summit on Economic Innovation in Africa Organized by The Economist

Kenya will hold a summit on the 1st of February organized by The Economist Events on the theme ‘Driving economic and health-care innovation for tomorrow’s Africa’. The summit which will be held at the Radisson Blu Hotel, Nairobi, will converge local and international delegates sourced from the private sector, the business community, African governments, media and international bodies to explore how African economies can effectively innovate and navigate through the challenges experienced in health care, infant health, infrastructure, productivity, education and make changes in their already established systems.

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Inaugural Susuk Transaction – $150m Issued by an African Entity.

A leading pan-African multilateral development finance institution and project developer, Africa Finance Corporation (AFC), has issued its maiden Sukuk – which the highest-rated Sukuk issuance from an African institution. After attracting high levels of investor interest, the initial target of 100 million USD was more than twice oversubscribed, resulting in the transaction being upsized to 150 million USD and a final order book of approximately 230 million USD. The transaction represents the first Sukuk to be issued by an African supranational entity, and also the first Sukuk transaction in 2017.

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UK to Strengthen Investment in South Africa as it Prepares to Leave EU

Last week, Dr Rob Davies – Minister of Trade and Industry, met with Dr Liam Fox – International Trade Secretary, in London for bilateral talks on trade and economic relations. This furthers an existing high-level engagement between the United Kingdom and South Africa.  In 2015, bilateral trade in goods and services between the UK and South Africa stood at £7.6 billion with UK exports of goods and services increasing by 25% over the past 10 years while South Africa’s export has increased over 5% on an annual basis over the past 10 years – making South Africa the third biggest trading partner for the UK in the Commonwealth.

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Vivo Energy and Orange Money announce Pan-African partnership.

A pan-African partnership covering nine countries (Botswana, Burkina Faso, Côte d’Ivoire, Guinea, Madagascar, Mali, Mauritius, Senegal and Tunisia) where Vivo Energy and   Orange Money is available, has been signed allowing Orange Money customers to cash in and cash out money from their Orange Money account and pay in any Shell service station operated by Vivo Energy (www.VivoEnergy.com). This offers Orange Money customers an access to a network of over 1,000 Shell service stations to transact from, while Shell customers will be able to pay for their fuel using Orange Money. The agreement further provides the customers of both companies a convenience and secured mode of payment which will also save time and money on their payment transactions.

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WEF Report Indicate High Inequality Rate in Nigeria, South Africa, and US

World Economic Forum (WEF) report on ‘inclusive development index’  shows United States of America, Nigeria, South Africa, Brazil, Ireland, Japan, and Mexico have inclusive-development rankings that fall below their GDP per capita rankings. What this means is that, despite the economic growth witnessed in these countries, there is inequality in the share of the economic growth or prosperity.  The United States had the largest gap existing between the countries GDP per capita rankings and the inclusive-development rankings. This urgently calls for a change in policies which restricts fairs hare of economic growth, employment, and increased profits.

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Liquefied Natural Gas Demand Turns Export Nations into Import Destinations

Demand for Liquefied Natural Gas (LNG) in some countries with the Middle East and North Africa region has been on rising demand making setting a high task for suppliers. Over the past decade, demand for LNG in Egypt, and Dubai, Jordan, Kuwait, and Pakistan has risen significantly reaching a current demand of 20.8 million tonnes per annum in 2016. Egypt’s demand has been very crucial leading the country to set up a scheme which awards huge tenders for short-term and medium-term supplies – attracting imports to handle demand deficits. The once known oil economies and exporters now importing liquefied natural gas. According to Platt, this is very bad and allows new entrants in the region to use short-term purchasing strategies, which is creating additional liquidity.

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GHANA: Active Citizen Discuss “Ban on Plastics”

Dumpsite Dominated with Polythene Bags Set on Fire to Burn. Akrofuom, Ghana.

A number of active citizens from all parts of Ghana gather to discuss whether the country should place a complete ban on plastic bags.

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Nations Aiding Ethiopia Should Strengthen Advocacy Not Infrastructural Development

Staying in touch with family, and friends in Ethiopia is quiet tougher than you would assume for a quick developing country with such great name for its capital – Addis Ababa. The state of emergency declared by the country has made living more difficult for most residents but particularly expatriates and tourists. The shutdown of some social media platforms and other media platforms after conflicts in public gatherings posing threat to both tourists and locals, has made it difficult for majority of youth to stay in touch with their global networks.

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Ghana’s Tema Oil Refinery Expansion Increase Daily Production to 65,000 Barrels

Picture source: www.tor.com.gh

Ghana’s Tema Oil Refinery which is a major crude oil refinery in the country has announced that it will be increasing its everyday production capacity from its reported initial capacity of 45,000 barrels of crude oil to a daily production capacity of 65,000 barrels. This announcement follows a recent expansion of processing units at the oil refinery which has been tested successfully to give assurance of the capacity of the Crude Distillation Unit to produce the anticipated 65,000 barrels per day. Accordingly, this increased capacity will mean enhanced operations for the Tema Oil Refinery in the production of fuels and its related products.

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