1 District 1 Medicinal Garden for exporting 100% organic Medicinal products

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President Nana Addo Dankwa Akufo-Addo has launched the first warehouse under the One-District-One-Warehouse programme.

It is recalled that Mr Akufo-Addo said at Goaso in the Brong Ahafo Region on Wednesday, 19 April at the launch of the Planting for Food and Jobs programme that his government was going to build one warehouse in each of the 216 districts across the country.

“Government intends to construct a 1000 metric tonne capacity warehouse in each of the 216 districts. The purpose of these warehouses will be to handle produce as well as to store the anticipated surpluses under the Planting for Food and Jobs campaign,” he said.

Accordingly, the President on Wednesday, October 18 launched the first warehouse in Ejura in the Ashanti Region.

The President during the launch said among other things that, “…this will not only minimize post-harvest losses” but “will help address poor farming practices”.

He continued: “It will further address the challenges of pricing,” adding: “Government will accelerate the construction of the warehouse and be equipped" with the right tools.

Time for me to get you some few billions

Bit coins , global currency

One global currency

Dr Dimitri Sanga, Director, United Nations Economic Commission for Africa (UNECA) Sub Regional Office for West Africa (ECA SRO/WA), has said only a potent political will emanating from the headship of the sub-regional grouping could leverage the aspirations of a single-currency regime for the zone in earnest. 

He said the economic considerations of unmet convergence criteria, which continue to stampede efforts for a single monetary currency zone for the Economic Community of West African States (ECOWAS), was likely to dislodge the 2020 target of a rollout of a single tariff policy. 

“It is imperative that head of states of the bloc reconsider taking a political decision to whip all member countries in line towards leveraging the policy of a single or common currency,” Dr Sanga said in an interview with the Ghana News Agency on the sideline of the launch of the Network of Economic Journalists for West Africa (NEJWA) by UNECA in Dakar recently. 

He said two main issues have emerged, which are the comfort being enjoyed by an already medium of exchange for the francophone bloc against the largest economy in the sub-region and in Africa, led by Nigeria, which needed attention going forward. 

Dr Sanga said the West African Economic and Monitoring Union (UEMOA), representing the CFA or the francophone bloc, in the majority is up against the rest of different currency states, including Ghana, Liberia and Nigeria. 

He said the UEMOA comfort stems from stable currency, pegged to the Euro with the zone expressing uncertainty of joining a new monetary zone, whose future cannot be guaranteed. 

“Nigeria’s economy represents more than 75 percent of the GDP of West Africa, meaning macro-economic stability of Nigeria is key in the determination and the rollout of a single currency regime.” 

Dr Sanga said ECA’s findings attest that not all convergence criteria were met in the case of the EU before gravitating to gaining a common currency, insisting that this is a political matter, which should be replicated by ECOWAS.

He called on member states to add value to primary products and diversify their economies, moving away from traditional commodities like oil for Nigeria, cocoa for Ghana and Cote D’Ivoire, Niger for Uranium among others. 

Dr Sanga said Nigeria could move into agriculture, ICT and the Nollywood entertainment industry as a good product for diversification, which is adding a lot to gross domestic product (GDP). 

On the Economic Partnership Agreement (EPAs) he said the principle is to engender industrialization and rapid development across board taking cognizance of processing primary commodities within ECOWAS with estimated population of 374 million, according to the United Nations. 

He said its policy to open the European market 100 percent to African countries and 75 percent to products from the European markets under the agreement was apt but indicated that many partner countries would not meet the conditions as they trade in fewer commodities that are mostly in raw state. 

The Director said meeting the aspirations of EPA meant that value be added to the commodities being traded with the EU and “it is hoped that countries will trade among themselves raising transaction portfolios with the ideal situation being signing the EPA as a bloc than country-by-country signatures.” 

He said “Even when the EU market is opened 150 percent; the maximum benefit will elude Africa as entrepreneurs in Europe are already positioned and would flood the markets in Africa with their finished products. 

Dr Sanga said “The maxim, in unity, there is strength, must apply for the signing of the EPA agreements.”

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Swiss African Oil Company Hold Talks With presidents Of Keta

The Swiss African Oil Company has been awarded a contract for seismic exploration in the Volta Basin.

The company is to do some feasibility studies along the Volta coast to find out if oil can be drilled in the area.

For this reason the Swiss African Oil Company, in collaboration with the Ghana National Petroleum Corporation, held a stakeholders engagement to sensitize indigenes along the Coast in the Volta region on the long term benefits they will derive from oil exploration.

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MP Dagbi who is the representative to the Swiss African Oil Company said they are currently explaining the process to the people and the benefits that would be derived when the drilling starts.

‘’We have to find the oil before even thinking of drilling which is the seimic exploration so that issues could be addressed on the drilling and any other  issue’’ Mr Dagbui explained.

Swiss African Oil Company exploration and production license to explore and produce petroleum resources in the Keta Delta basin.

The license makes them the legal owners of the Keta Delta block, located in the Volta Region.

The acquisition makes Swiss African Oil the first to explore for oil onshore Ghana.

The Keta Delta block license was awarded following ratification by Parliament of a joint venture between the Government of Ghana, the Ghana National Petroleum Corporation, and Swiss African Oil Company Limited.

The new block covers an area of 3,000 square kilometers and it is envisaged that the operations would provide employment and stimulate local development in the region.

According to the senior officer of environmental and health safety at the GNPC, Madam Philomena Donkor the consultation is to educate the people on the project and the benefits they will derive from it.

Madam Donkor said that, the turnout was good and the aim was met. She explained that, the fishermen will not be compensated because the exercise is only drilling and this according to her will not affect their work.  

Mad Donkor said that  the people are happy about the process and they hope to have a lasting working relationship with the communities visited

Communities in the Ketu and Keta municipalities with over 700 people took part in the stakeholder’s forum aimed at sensitising the public on the oil exploration.

A member of the delegation from the Swiss oil company who is also a native of Alakple in the Keta municipality Mawuli Aspalin Dagbi said she was impressed by the response of the people and that Volta Region has a lot of resources that needs to be used