No Fears - Crude Oil Will Come - President Mills

President John Evans Atta Mills yesterday visited the Tema Oil Refinery (TOR) and assured workers that the government would definitely provide the refinery with the much needed crude oil to facilitate its operations.

“ I am here for one reason: I want crude oil. I want to assure you that you are going to get crude oil to run the refinery,” he said.

Interacting with the workers on the factory premises in Tema, President Mills said the government attached great importance to the activities of the refinery, which he described as one of the pivots of the country’s economic development.

He said the government was sensitive to the plight of the electorate who gave it the mandate to manage the country’s affairs and would not, by any stretch of the imagination, undertake actions which would inflict hardships on them.

According to him, the regular supply of petroleum products to the market was important to industry and manufacturing, for which reason the government would strive at all times to ensure that those products were on the market.

President Mills explained that the government had learnt very hard lessons from the operations of the petroleum sector, stressing that there were so many intrigues in the sector which it had discovered and was dealing with them to ensure that petroleum products were available to Ghanaians throughout the year.

He said the government sympathised with the broad masses of the people whenever there were shortages of fuel on the market and cautioned that individuals and groups of persons whose main intention was to sabotage the efforts of the government in the sector should reconsider their ways and change for the better.

“The government is learning its lessons the hard way, for which reason I want to assure those engaged in all sorts of malpractice in the petroleum sector that they will not get away with their acts which are harming the economy,” he said.

President Mills appealed to the workers to exercise restraint while the government took all the needed measures to address challenges facing the refinery.

The workers enjoined President Mills to take pains to investigate activities at the Ministry of Energy which they believed were the cause of the recent shortage of petroleum products in the country.

They also enjoined him to be watchful of the activities of some of his ministers whom they alleged were sabotaging his efforts to ensure the transformation of the country’s social and economic structures.

Blatter To Seek Re-Election

FIFA President Sepp Blatter told Tuesday's Gazzetta dello Sport that he wants to continue beyond the end of his term in office in 2011.
The 73-year-old has been FIFA President since 1998 when he replaced Brazilian Joao Havelange at the head of the top post in world football.

In 2007 he was re-elected for the third time but the Swiss says he's not ready to stop just yet.
"I haven't finished my mission in football, I need more time," he told the Gazzetta dello Sport.

"I hope in 2011 the Congress will show faith in me. Otherwise I'll return to my village, Visp, and take part in bocce (an Italian game from the boules family closely related to bowls and petanque) tournaments," he said.

"There's a beautiful covered bocciodrome (stadium for playing bocce) but I love big stadiums. Football is my life."

Blatter has had an often controversial tenure as FIFA President, introducing new laws such as the silver and then golden goals, banning matches being played at high altitude and stopping the World Cup winners from gaining direct entry into the following tournament.

His original election and subsequent tenure have also been beset by allegations of corruption.

— AFP

Obuasi Assembly Rejects Ghana@50 Cups

THE Obuasi Municipal Assembly has refused to accept 15,949 Ghana@50 souvenir cups delivered by Able Import and Export which is based in Teshie/Nungua in Accra.

Announcing the decision at a press conference, the Obuasi Municipal Chief Executive (MCE), Mr John Alexander Ackon, explained that on October 16, 2009, the driver of a cargo vehicle, with registration number GT 6104 B, reported at his office with a letter and a waybill from Able Import and Export of Teshie/Nungua, Accra, to deliver Ghana@50 souvenir cups to the assembly.

He stressed that the assembly refused to take the items owing to the ongoing probe into the Ghana@50 celebrations and recent developments but emphasised that his outfit was waiting for a directive from the Ministry of Local Government, the Commission of Enquiry into the Ghana@50 celebrations and the Ashanti Regional Co-ordinating Council.

Mr Ackon added that the assembly already had 3,750 of the Ghana@50 souvenir cups in stock which were yet to be distributed and, therefore, the delivery of an additional 15,949 pieces would not be necessary.

He said he could not understand why the cups should be delivered long after the celebration had ended, with no records to that effect.

University Of Education Turns Away 2,707 Students

The University of Education, Winneba, has turned away 2,707 qualified applicants at its Kumasi and Mampong campuses due to limited facilities and resources.

Out of the number, 2,460 qualified for admission at the College of Technology Education (Kumasi Campus) while 247 were for the College of Agriculture Education (Mampong Campus).

“It was a painful decision to take but the circumstances demanded it,” Prof Akwasi Asabere-Ameyaw, Vice Chancellor of the university, said at separate matriculation ceremonies at the two campuses last Saturday.

At the Kumasi Campus, 1622 fresh students comprising 1507 males and 584 females registered and were accordingly matriculated while the Mampong campus matriculated 359 students 52 of whom are females to undertake various undergraduate and post graduate programmes.

Speaking at the ceremonies, the vice-chancellor observed that even though the two colleges had achieved a lot within the few years they had been in existence, they still faced challenges especially in respect of decent residential and office accommodation for staff, student accommodation, lecture theatres, laboratories and other teaching and learning facilities.

He consequently appealed to the government and civil society to come to the aid of the university. In spite of the challenges, Prof Asabere-Ameyaw stated that the university had put in place measures to ensure that the university achieved its vision.

“The university is positioned to provide the training needs of all categories of persons who aspire to become great teachers and is poised to provide at its best what can be described in any part of the world as excellent teacher education.”

Prof Asabere-Ameyaw indicated that the university was committed to ensuring that students who enrolled on its programmes maintained academic excellence to become competent in their professions.

The vice chancellor asked the students to take their studies seriously to enable them to come out fully qualified to meet the challenges in their profession.

“Whether or not our mission to produce excellent, well-grounded teachers who will meet the challenges of our time is fully realised will largely depend on how well you take advantage of the opportunities the university offers,” he told the students.

Meanwhile, the College of Agriculture Education (Mampong Campus) of the University of Education Winneba, has sacked seven second-year students for poor academic work.

A statement from the office of the assistant registrar’s office of the college said 10 others have been put on probation and asked to improve on their performance or get the sack.

Gold Price Hits Record High

The price of gold has hit a new all-time high. The precious metal reached a record high of more than $1,050 an ounce at the close of business yesterday.

It is the third record-setting price in as many days. Last Wednesday the price closed at $1,048.40 per ounce.
The greenback is commonly seen as the world's reserve currency. Low interest rates and the US government's massive economic support package have weakened the dollar, contributing to the high price in the metal.

Those who would typically have invested in that currency are looking for other places to put their money where it will, they hope, gain value.

A lot of the investment into gold is coming from institutions such as hedge funds - whose money needs to go somewhere.
When banks are offering very low rates of interest on savings - and money can be borrowed extremely cheaply - gold becomes attractive, observers say.

Gold is seen as a hedge against inflation. Right now, inflation is pretty low, but mounting worries about potential inflation in 2010 may be enticing more investors to the precious metal.

Gold has a "primeval" quality argues Adrian Ash of UK online gold exchange, BullionVault.com (which makes its money when customers buy and sell gold).

He says that while it is essentially a "lump of metal with little purpose", gold tends to hold its value over the long term and is not anchored to the value of cash.

This means that people are drawn to it in uncertain times, Mr Ash adds, though he cautions the price can be volatile.
In Western cultures, individuals buying into gold as an investment remains relatively rare. It is not the kind of advice you are likely to get from a financial adviser, for example.

However, in countries such as China and India, buying gold as in investment is more common. And at this time of year, in the run-up to the Diwali festival, there is a seasonal increase in gold purchases because the metal is traditionally given as a gift.

Indian farmers are also big gold customers at this time of year - seeing it as a way of keep their profits safe after harvest - free from threat of currency fluctuations.

Kosmos Enters Accord With ExxonMobil

Kosmos Energy, one of the major partners in Ghana’s offshore Jubilee oilfields, is reported to have entered into an exclusive binding agreement with ExxonMobil for the sale of its assets in Ghana, a source close to the parties disclosed to the Daily Graphic last night.

Kosmos discovered oil in Ghana in July 2007 and is currently drilling for more oil in the West Cape Three Points offshore area.
The company also heads the Jubilee Development Integrated Project Team with the responsibility of successfully implementing its fast-track development plan for production of oil in the last quarter of next year.

Kosmos is known for its focus on finding oil and transferring its long-term development to more experienced deepwater operators.
Sources close to the parties say the transaction will be a win-win for both parties, as well as the country.

It will provide the Government of Ghana with an increased role in the Jubilee Project and the West Cape Three Points and Deepwater Tano blocks. The government has indicated its desire to increase its stake in the Jubilee Oilfields.

Industry experts have described the choice of ExxonMobil as hugely significant and far-sighted, given the unmatched technical skills, expertise, experience and technology the company has in the upstream petroleum sector, including deep water offshore operations in West Africa.

ExxonMobil will significantly strengthen the current contractor consortium and complement existing operating capability provided by the other major partners Tullow and Anadarko.

This is crucial since the Jubilee Field development is the first of many phases of a very large, highly complex and expensive oil and gas exploitation effort over the coming years.

As one close watcher of the industry puts it, “buying the asset is one thing, but the ability to fund its development is another”.
International press reports on the transaction concerning the entry of ExxonMobil into the emerging Ghana petroleum industry, quoting industry analysts, have been very positive.

ExxonMobil also offers expertise in other sectors of the petroleum industry, including downstream, and specifically refining.

Kosmos has long promised that its legacy to the government and people of Ghana would include identifying a company to take over from it, which will play a leading, long-term, full cycle role in optimising the exploitation of the oil and gas deposits in a manner that benefits the country.

ExxonMobil will bring to the project the largest integrated oil and gas company in the world and many experts are of the view that this ensures Ghana’s energy future is in the safest hands.

ExxonMobil is financially fully capable with a very strong balance sheet, which provides access to substantial, low cost of capital for future funding of the very significant development costs.

In addition, ExxonMobil is known to take a very long-term view and is expected to bring other benefits to Ghana.

The company has demonstrated elsewhere in Africa its strong focus on social and environmental responsibility, as well as a deep commitment to the training and development of the host country’s people in support of early indigenisation of the local oil and gas industry.

The decision of ExxonMobil to invest in Ghana confirms the importance of the country as an emerging major oil and gas producer and exporter and demonstrates that Ghana is an attractive investment destination.

Ghana is being watched keenly by industry players, many of whom see its actions as critical if the oil experience is to change for the better in Africa. The early conclusion of this transaction is likely to provide a significant vote of confidence in the government of Ghana.

Students Need Protection From Sexual Abuse

A legal practitioner, Mrs Hillary Gbedemah, has advocated the institutionalisation of policies on sexual behaviour in schools to protect the rights of girls and the youth.

She said it was necessary for students to keep abreast of laws that protected against sexual misconduct, in order not to compromise their morals and also help them engage in the right processes of mediation.

“The youth should claim their rights and you can only do that if you are knowledgeable and assert your rights,” she said.
She was speaking at the Institute of Professional Studies (IPS) ‘Mmaa Nkomo’ on “Promoting women’s rights and gender equality” in Accra.

The IPS ‘Mmaa Nkommo’ is an initiative of the Abantu for Development, a gender advocacy organisation, to create a platform to mentor female students and encourage them to participate in governance and decision-making.

The programme was sponsored by Abantu for development in collaboration with ActionAid Ghana.
Touching on the topic: “Promoting Women’s Rights and Gender Equality Using the Existing Structures”, Mrs Gbedemah said society must actively promote measures to ensure the education of girls and increase literacy among women, especially in the rural areas, to enable them to assert their rights.

“Ensure the active promotion of all human rights for women and girls, including the right to development by raising awareness or enacting legislation where necessary,” she added.

She said parents needed to desist from coercing their children into submission, since it culminated in making them timid and compromised on issues even when they had to protest to harassment against them.

Mrs Gbedemah, who is also the Rector of the Law Institute, said international and national laws stipulated that all human beings were born free and equal and needed to have the same rights and freedoms irrespective of race, colour and sex.
She said women had equal rights as men and it was therefore disheartening to see women living under exploitation, discrimination or violence on the basis of education, employment, health or access to education.

The Senior Programme Officer of Abantu for Development, Mrs Hamida Harrison, who spoke on “increasing women’s representation in decision-making: the role of affirmative action policy,” said women’s inequality found expression in areas of politics, leadership, economics and social development.

She said that was due to inadequate representation and participation of African women in decision-making, and encouraged more young women to pursue higher education, get into the governance process and become a mouthpiece for other underprivileged women.

The IPS Women’s Commissioner, Ms Emma Asante, said the programme had been very educative and very encouraging to the students.

Help Africa Deal With Financial Problems - President Mills

President John Evans Atta Mills yesterday stressed the need for rich countries to put in more effort to meet existing commitments to aid and debt reduction to African economies.

He said they should also accelerate disbursement of and access to existing financial facilities in order to ease the impact of the global financial crisis on African economies.

"Unfortunately, the current global trading system discriminates against developing countries, hinders their participation in the global economy and damages the earning opportunities of farmers and rural communities in poor countries," he stressed

In his address to the UN General Assembly during its 64th session, President Mills said trade-distorting subsidies, as well as tariff and non-tariff barriers instituted by most advanced countries, had denied market access to African products.

It was on the theme: “Effective Response to global crises, strengthening multilateralism and dialogue among civilisation for international peace, security and development."

He said sustained economic growth required that poor countries increased their exports to the rich countries. President Mills told the world leaders that his government had made a giant stride aimed at mitigating the impact of the global financial crisis on the country's economy.

He said fiscal restraint had been exercised in response to the crisis, including cutting down public spending and shifting the balance from recurrent expenditure to infrastructure investment.

"For developing countries like Ghana, a meaningful liberalisation must be accompanied by predictable access to markets, eliminating abuse of anti-dumping measures and the reduction of tariff and non-tariff barriers," he said. President Mills said in the face of all these developments, Africa acknowledged that its efforts at achieving

sustainable, social and economic development essentially depended on "our commitment to good governance".
He said in spite of the difficult challenges, leaders across the continent had embraced democratic values, except in a few cases, where narrow self-interest of leaders were threatening the commendable gains of the last decades.

"We are also confronted with grave risks posed by climate change to environmental, social and economic development. The need for concrete, timely and decisive measures to enable us to cope with this large man-made problem is obvious and must not be deferred any longer," the President stressed.

President Mills said rather than being discouraged by those shortcomings, Ghana remained unwavering in the conviction that though daunting, the challenge to the comity of nations could be surmounted through innovative, bold, realistic and achievable decisions.

On Ghana’s role in peacekeeping, the President said Ghana, as one of the oldest and consistent troop contributing countries, deemed it a matter of honour and privilege to be associated with the success story of the UN.

"It is for this reason that we applaud and renew our support for the reform process which has so far yielded fruitful dividends, although further improvements are required if we are to achieve the ultimate goal," he said.

On the 15th anniversary of the adoption of the 1995 Beijing Declaration and Platform for Action, which falls next year, President Mills said the huge gap between policy and practice and the uneven progress in implementing the international commitments on gender equality and empowerment of women heightened the importance of creating an enabling environment, through a more coherent, integrated and multi-sectoral approach.

He said over the years, Ghana had spared no effort in the implementation of those goals and objectives, adding that the Government was actively pursuing an affirmative action policy which sought to ensure 40 per cent representation of women in decision-making positions.

"We have made gains to this end as lucidly testified by the appointment of the first female Speaker of Parliament, female minister with responsibility for Women and Children’s Affairs, and females as ministers of Justice and Attorney-General; Trade and Industry; Environment and Science; Information, and Tourism, as well as many female deputy ministers.

President Mills, however, noted with regret that conflicts, particularly in the developing world, had robbed the continent of the opportunity to improve the circumstances of its people, stressing that sustainable development could only be achieved in an international environment characterised by peace and security.

"Ghana, therefore, wishes to reiterate her commitment to the ideals of the UN and will continue to live up to its charter obligations and together with member states assist this organisation in its task of maintaining global peace and security," President Mills said.

He said Ghana believed that the UN remained the ideal multilateral instrument available for maintaining international peace and security and for promoting a fruitful international co-operation.

GH¢170,001 Embezzled - Korle-Bu Suspends 11 Revenue Collectors

The management of the Korle-Bu Teaching Hospital has suspended 11 of its revenue collectors for allegedly embezzling GH¢170,001.61 between January, 2007 and June, 2008. The alleged embezzlement was uncovered following a special audit into the accounts books of the hospital after some anomalies were detected by Egyaboaful Anan-Kakabaah, the Director of Finance of the hospital.The Chief Executive of the hospital, Professor Nii Otu Nartey, then commissioned a special investigation co-ordinated by Mr Anan-Kakabaah with the Internal Audit Agency into the accounts books of the hospital, which resulted in the findings.The team is still looking into the cases of other revenue collectors and this might raise the amount embezzled.The 11 revenue collectors, who have all been suspended following alleged acts of impropriety against them, are Charles Acheampong Mensah, GH¢38,431.35; Mark Tanlongo, GH¢34,098.01; Judith Belinda Degboe, GH¢19,585.34; Francis Mensah Sam, GH¢16,927.22; Joseph Aryee, GH¢16,560.65 and Portia Quansah, GH¢9,070.32.The rest are Florence Mensah, GH¢9,492.26; John Edem B. Tamakloe, GH¢7,728.17; Charles Campbell, GH¢6,544.03; Christoph Kumapley, GH¢5,433.03, and Ebenezer Neequaye, GH¢4,928.29.They are also to face a disciplinary committee set up by the management of the hospital. The police are also to take over the criminal aspects of the financial scandal.Narrating how the revenue collectors perpetrated the crime, Prof. Nartey told the Daily Graphic that the revenue collectors put a hard paper between the original receipt and the third copy to write the real name of a patient as it appeared on the Admission & Discharge (A & D) book at the wards/units on the original receipt copy.He said the perpetrators would then use a fictitious name on the third copy, which was for monitoring and reconciliation purposes.According to him, on the third copy, they would then issue amounts which were far lower than the amount recorded in the A & D books and pocket the difference.Citing an example, Prof. Nartey said after allegedly collecting GH¢178.06 from a patient on December 4, 2007, a revenue collector at the Maternity Ward paid only GH¢6 into Korle Bu’s accounts and issued a receipt in the name of a non-existent patient which was different from the record in the A & D book.He said the revenue collector then allegedly pocketed the difference of GH¢172.06. The Chief Executive said that was how the rest of the others allegedly perpetrated the crimes.He said in reconciling the accounts, it was detected that the names in the A & D books did not correspond with the names in the receipts issued against them.Most often, he said, the duplicate copy, which should also be kept in a box, could not be traced. Prof. Nartey said the investigations had been widened to cover other areas of the hospital especially the monitoring and reconciliation units.He said in addition to handing over revenue collection to Merchant Bank so as to seal any loopholes in revenue collection, the management had also decided to decentralise the monitoring and reconciliation units to the various sub-budget management concepts (BMCs) of the hospital.Prof. Nartey gave the assurance that Korle Bu would take stern action against any staff member who engaged in pilfering of revenue at the hospital.He said management would also maximise the collection and judicious use of the hospital's revenue to improve upon services to patients.Prof. Nartey said management would ensure that all those who had taken monies from the hospital’s revenue repay them and the appropriate sanctions taken against the culprits.

Swine flu : Five So Far Test Positive

Five people have so far tested positive for the H1N1 influenza (swine flu) in Ghana, prompting officials of the Ghana Health Service (GHS) to push their call for preventive measures higher.While the first two patients have been treated and discharged, the latest patients, made up of three people in a family of four, are currently quarantined in their home and receiving treatment from health professionals.Confirming this in Accra yesterday, the Director-General of the Ghana Health Service (GHS), Dr Elias K. Sory, noted that there was the need for intensive education on the issue.Without disclosing the identities of the three patients, Dr Sory said a man, an expatriate, arrived in the country four days ago and allegedly transmitted the virus to the wife and one of their two children who were living in the country.He commended the man, who he said had cold, and suspecting that it could be the deadly H1N1 influenza, quickly reported to a health facility where a series of tests confirmed the presence of the virus.Dr Sory explained that the second child had so far not presented symptoms of the disease, but was under surveillance.The Health Director-General observed that all the swine flu cases the country had recorded seemed to have been transmitted from people who had spent time outside but added that there was the possibility of people getting it from others within. He pointed out that although the disease was airborne, people could prevent contracting it if they became cautious, adding that “people should stay away from those who suffer from cold and also wash their hands with soap as often as possible”.To those who suffer from symptoms of influenza (cold), Dr Sory said they would do society a lot of good if they covered their mouths while coughing or sneezing and also stay away from others, since one might not know whether it was swine flu or an ordinary cold.He also advised that people presenting symptoms similar to that of cold should not treat it at home but visit health facilities for proper diagnosis and early treatment.He gave the assurance that the H1N1 influenza could be treated when detected early. He reiterated an earlier statement that the health authorities had been vigilant and, with support from the World Health Organisation (WHO), had put in place measures to tackle the disease in the hospitals.Swine flu is a deadly respiratory disease caused by a strain of the influenza type A virus known as H1N1. The virus is spread from person to person, probably in much the same way that regular seasonal influenza viruses spread.The symptoms of the novel H1N1 flu virus in people are similar to the symptoms of flu and include fever, cough, sore throat, runny or stuffy nose, body aches, headache, chills and fatigue. A significant number of people who have been infected with this virus have also reported diarrhoea and vomiting. The H1N1 viruses are not spread by food. One cannot get infected with HIN1 virus from eating pork or pork products.As there is no vaccine available right now to protect against the novel H1N1 virus, there are everyday actions that can help prevent the spread of germs that cause respiratory illnesses like influenza.One needs to take these everyday steps to protect his or her health: Cover your nose and mouth with a tissue when you cough or sneeze; throw the tissue in the trash after you use it; wash your hands often with soap and water, especially after you cough or sneeze (alcohol-based hand cleaners are also effective) and avoid touching your eyes, nose or mouth.Other precautionary measures are that one has to avoid close contact with sick people.

Veep Inaugurates Access Bank, Ghana

The Vice-President, Mr John Dramani Mahama, has urged financial institutions to expand credit facilities to small and medium-scale enterprises (SMEs) since they have the productive energies to propel the growth of the country’s economy.“It is on the shoulders of this sector that we can leverage the productive energies to accelerate the growth of this economy,” he said.Mr Mahama made the call when he inaugurated Access Bank (Ghana) Limited, a new financial institution, into the Ghanaian banking industry in Accra yesterday.Access Bank (Ghana) Ltd is a subsidiary of Access Bank Plc, a fully-fledged financial services provider in Nigeria with banking subsidiaries in the United Kingdom (UK) and eight other African countries, including Ghana. It is ranked 10th in Africa with $5.6 billion total assets as at March 2009 and total shareholder’s funds of $1.3 billion.Mr Mahama said global recession and imprudent management of the economy in recent times had created adverse economic conditions, which had increased the default rate of the SMEs.That, he said, had left many of the banks holding significant stocks of bad debts from SMEs.The Vice-President, therefore, urged the financial institutions not to renege on their core duty of providing credit facilities to SMEs.“The government is committed to an efficient management of the economy by creating conditions in which SMEs can thrive and grow.”Mr Mahama said for now, the central bank was not eager to see an increase in the number of new banks, and indicated that the way to go was to encourage mergers that would create stronger banks with a bigger capacity to finance the accelerated growth of the economy.“This would stop us going cup in hand to the multilateral and bilateral donors seeking financing for our budgets every year,” he said.Besides, he said the merger of financial institutions would ensure free movement of capital in the sub-region, and charged management of Access Bank to play a role in that regard.Mr Mahama said a harmonised payment would enable Africa to meet some of the competition from other sub-regional groupings in Europe and Asia which benefited from the synergies accruing from their harmonious payment systems.Mr Mahama commended Access Bank for its determination to play an active role in key sectors of the economy such as oil and gas, telecommunications, construction, cocoa and manufacturing to accelerate the growth of the country’s economy and create wealth for local businesses and individuals.The Minister of Finance and Economic Planning, Dr Kwabena Duffuor, in a speech read on his behalf, charged financial institutions not to focus too much on the oil and gas sector to the neglect of the agriculture sector.He said agriculture was the pillar of the country’s economy since 60 per cent of Ghanaians depended on the sector.Dr Duffour said the government would continue to motivate financial institutions to facilitate access to credit to SMEs to stimulate the country’s economic growth.The Governor of the Bank of Ghana, Dr Paul Acquah, said the financial sector had been undergoing a wide range of reforms focused on transforming the industry and developing a robust and fundamentally sound financial sector with universal banks as the core.According to him, the sector had seen a rapid growth in terms of number of institutions, deposits and branch networks, which, he said, had increased from 332 in 2003 to about 660 at present.Additionally, Dr Acquah said the expansion of the loan portfolio had also seen an appreciable growth where products offered by banks were becoming increasingly diversified to better serve the needs of customers, adding that “total assets of the banking system has increased ten-fold from GH¢1,866.4 million in 2002 to GH¢11,706.2 million in June 2009”.Key contributory factors to this growth, he said, included legislation such as the Anti-Money Laundering Act (2008), the Credit Reporting Act and the Borrowers and Lenders Act, which he assured should serve to minimise the incidence of default and encourage respect for contractual obligations in the credit system.More important, Dr Acquah said the Non-Banking and Financial Institutions (NBFI) Law, passed last year, had been designed to regulate the whole range of financial and micro-credit institutions actively involved in financial intermediation.The Chairman of Access Bank, Mr Herbert Wigwe, said the bank had shareholders funds in excess of US$1.6 billion and an asset base of over US$10 billion as at March 31, 2009.He said the bank had been acknowledged worldwide for its high ethical standards and adoption of best practices in every facet of its operations.Notable among key priorities, he said, was a multi-million dollar partnership with the International Finance Corporation (IFC), the private arm of the World Bank, for the development of women-owned businesses under the Gender Empowerment Programme.This initiative, he explained, would cater for the business needs of women entrepreneurs as it aimed to increase contribution of women to the national economy.“We are here to work hand in hand with the people of Ghana to foster development in all facets of the economy.” he assured, and implored all Ghanaians to give the bank an opportunity to partner the government in the country’s development agenda.

Ministry To Introduce Biometric Passports Soon

The Ministry of Foreign Affairs and Regional Integration will soon announce a new timetable for the introduction of biometric passports in Ghana.It said initial plans to introduce them on July 7, this year, were aborted as a result of the challenges encountered with the process.The sector Minister, Alhaji Mohammed Mumuni, who announced this when he took his turn at the “Meet-the-Press” series in Accra yesterday, gave the assurance that Ghana would beat the 2010 deadline set by the International Civil Aviation Authority (ICAO) for countries to use biometric passports.A biometric passport is a combined paper and electronic identity document that uses biometrics to authenticate the identity of travellers. The minister explained that apart from conforming with the rest of the world, biometric passports would also help to deal with the problem of non-Ghanaians accessing Ghanaian passports and also the forgery and the fraud associated with the current system.Alhaji Mumuni said two initiatives by the previous administration to introduce biometric passports and an e-passport were stalled, but said the present administration had decided to reactivate a contract signed between the past government and the Buck Press to make sure that things were done quickly to beat the deadline.He said the Passport Office faced a series of challenges, including inadequate computers and working accoutrements to facilitate easy processing and keeping of documents.On when Ghana expected the United Nations to decide on its request for a claim to the extended continental shelf, which will see the expansion of Ghana’s exclusive economic zone, Alhaji Mumuni said Ghana could not put a time frame on its request but had to wait till the UN decided.On whether Ghana would effect the arrest of Omar Al-Bashir, the Sudanese Leader, should he arrive in the country today in response to the arrest warrant issued by the International Criminal Court (ICC), the minister answered in the negative.He said although Ghana was a signatory to the Rome Statutory establishing the ICC, it would not turn its back on the African Union (AU), which decided that it could not arrest the Sudanese leader.He explained that such a position did not, however, mean that Ghana did not accept the authority of the ICC, except that it had to go by the decision of the AU.Alhaji Mumuni said the pursuit of peace and security would continue to be given high priority in the conduct of Ghana’s foreign policy as they were essential for growth and prosperity.He said the government recognised the contribution of Ghanaians abroad to the national economy and would, therefore, facilitate and encourage them for purposes of supporting monetary stability and engendering economic growth.He, however, appealed to Ghanaians seeking to travel abroad to acquire the requisite entry permits and visas of destination countries before embarking on their trips.He said Ghana had had to receive deportations from countries such as the US, the UK, the Netherlands, Saudi Arabia, Spain, Algeria, Morocco and Libya, from where recently 540 Ghanaians were deported.The minister expressed worry over the challenges facing Ghana’s missions abroad, including office accommodation, which had resulted in threats of ejection of the missions in Dakar and Luanda.He said within the constraints of the budget of the ministry, an average of $5 million was generated from consular fees and other charges.Alhaji Mumuni pledged the commitment of the ministry to discharge its traditional duties effectively and efficiently towards projecting a positive image of the country abroad.

National Cardio Centre To Be Relocated

Prof. Frimpong-Boateng said, the National Cardiothoracic Centre is seeking $25 million to relocate and build a Cardiothoracic Hospital for Ghana.Designs of the new cardiothoracic hospital have already been completed.A paediatric heart wing that will focus on the care of children with congenital and acquired cardiovascular disease and other specialised units will be included in the new hospital.The centre is now seeking 200 acres to start the project. Addressing a press conference to launch the 20th anniversary celebrations of the centre in Accra yesterday, the outgoing Director of the centre, Professor Kwabena Frimpong-Boateng, explained that the centre in Korle Bu was getting overcrowded and, therefore, stressed the need to relocate to a new site.He explained that as more staff members were trained in cardiovascular care, sub-speciality training became a more realistic approach to attain cutting-edge efficiency.He cited, for instance, that the centre introduced a Video Assisted Thorascopy Surgery (VATS) service that allowed surgeons to do certain selected cardiothoracic cases without the chest being opened.“I wish to call on Ghanaians to help make this project a reality. You built the present facility and I believe that you can build the new one as well. Yes we can,” he stated.Prof. Frimpong-Boateng said the centre had set a high standard in health institution construction, departmental organisation as well as training and management of hospital personnel, achievements that could not be ignored or wished away.He said he wanted the success of the centre to inspire others, especially the youth of Ghana, to strive for excellence.“If heart surgery, which is perhaps the most complex of the surgical disciplines, in terms of equipment inputs and training requirements of personnel, has been made possible in Ghana by Ghanaians with our own resources and management skills, then it should be possible for us as a people to excel in all areas of our national life,” he said.“From my own personal observation, the public health delivery system is collapsing, and if nothing is done to arrest the factors contributing to the decay, in about 10 years, there will be no system to write about,” he said.The major problem he identified was the attitude of health workers toward public property, saying that several factors fed into the malaise as there was very little commitment to growth and development of public institutions.Prof. Frimpong-Boateng said celebration of the 20th anniversary should serve as a springboard for strategic thinking into the future.“From a sole crusader and a few supporting staff 20 years ago, the staff strength has grown to over 130 in all categories.I am particularly happy and blessed to see that there are now six other qualified and motivated heart surgeons who are ready to keep the torch I lit 20 years ago burning,” he stated.Prof. Frimpong-Boateng said there were major factors that militated against the establishment of centres of excellence in the third world.Those factors, he said, included attitudinal issues, lack of trained personnel or requisite human resource, lack of facilities, poor maintenance culture and poor remuneration of workers.Based on those factors, he said, there was the need to let members of staff realise that Ghanaian medical personnel had the capacity to establish symbols of medical excellence without depending on others, saying that any assistance, if at all necessary, should not make Ghanaians dependent on perpetual infusion of foreign aid and expertise.Prof. Frimpong-Boateng said the most important factor in the success story of the centre was the human capital as continuous education and further training of personnel were taken seriously.He said the centre was now the site for the practical training for the Peri-operative and Critical Nursing Training Programme of the Ministry of Health and also accredited by the West African College of Surgeons as the Centre of Excellence for the training of cardiothoracic surgeons, cardiac anaesthetists and cardiologists for the West African sub-region.

Ghana Will Produce 240,000 Barrels Of Oil Per Day - Minister

Dr Kwabena Donkor - Deputy Minister of EnergyThe country will produce 240,000 barrels of oil and 240,000 million standard cubic feet of gas per day under the second phase of the Jubilee Field project which is expected to commence in 2013, the Deputy Minister of Energy, Dr Kwabena Donkor, has disclosed.According to him, “the appraisals so far conducted indicate that the Jubilee Field contains expected recoverable reserves of about 800 million barrels of light crude, with an upside potential of about three billion barrels”.Dr Donkor, who made this known when he opened a two-day seminar on oil and gas for youth activists in Accra last Saturday, said there were greater prospects for the discovery of more oil.The event, which was on the theme, “Oil and Gas Exploration in Ghana: Opportunities and Threats for the Youth”, was organised by the Youth Network for Human Rights and Democracy and the Friedrich Ebert Stiftung (FES).Dr Donkor said under Phase One of the Jubilee Field project, 120,000 barrels of oil and 120,000 million standard cubic feet of dry gas per day would be produced next year. He said the discovery of oil and gas in commercial quantities provided the country an immense opportunity to effectively improve its economy, for which reason all sectors of the economy were positioning themselves for the take-off into the new economic horizon created by the oil and gas discoveries.“There are many who are sceptical and are asking whether the oil and gas find will be a curse for Ghana, as it has been the case in some African countries. Whether the oil and gas discoveries will be a curse or a blessing will depend on the collective will of the people of Ghana,” he said.Dr Donkor said with the discoveries, a number of opportunities were knocking at the doors of the youth at the various stages of the oil and gas industry in the upstream, midstream and downstream activities.These, he said, were drilling services, production maintenance service, geological services, engineering, fabrication and construction.In addition, he said, opportunities existed in sectors such as insurance, food and beverages, transportation, health and safety, banking and financial services, as well as seismic.He said it was, therefore, up to the youth to take advantage of the opportunities and urged educational institutions to position themselves by introducing programmes that had relevance to the market being created by the oil and gas find.He said as a result of the oil threats, the government, on coming into office, withdrew the Petroleum Bill from Parliament for further review and broader stockholder participation before re-submission to Parliament.“Though the production horizon of the oil in the Jubilee Field may be short (20 years), the ministry is leaving no stone unturned in ensuring that the necessary legislation and institutions are put in place to ensure that the benefits of the oil find in our time will also extend to those yet unborn,” Dr Donkor emphasised.The Executive Director of the Youth Network for Human Rights and Democracy, Mr Prosper Hoetu, said the organisation was a youth-oriented one committed to building the capacities of young people for good governance, peace building and conflict prevention towards consolidating democracy in the country.He said the country’s discovery of oil and gas in commercial quantities came as good news in the midst of its socio-economic challenges, saying that when they were managed properly, oil and gas could be a major source of socio-economic transformation.The Programmes Co-ordinator of the FES, Mr Danaa Nantogmah, said while oil discovery had been regarded as a blessing, in Africa “it is often associated with the resource curse phenomenon”.The objective of the seminar, he said, was to provide basic knowledge and understanding of the emerging oil and gas industry.Mr Nantogmah expressed the hope that the seminar would provide a platform for youth leaders and activists to devise strategies to effectively engage the government and other stakeholders in developing and implementing a national oil and gas policy that would safeguard the environment and prevent political corruption and violent conflict.

Oil Production To Start Next Year - Tullow

Oil drilling RigTullow Ghana Limited, one of the companies involved in oil exploration in the country, has reaffirmed its commitment to start producing oil by the last quarter of next year.It said it was working diligently and feverishly to produce first-class quality products. The company is expected to produce 120,000 barrels of oil a day when it starts production.The Vice-President of External Affairs and Corporate Social Responsibility of Tullow Ghana, Ms Rosalind Kainyah, made this known when she led a three-member delegation to pay a courtesy call on the Managing Director of the Graphic Communications Group Limited, Mr Ibraham Awal, in Accra yesterday.The other members of the delegation were Mr Kofi Esson, the Government and External Relations Manager, and Okyeame Ampadu-Agyei, the Corporate Social Responsibility (CSR) Manager.Tullow Oil Plc is one of Europe’s leading independent exploration and production companies operating a balanced worldwide portfolio which stretches across Africa, Europe, South Asia and South America. The company is a versatile and balanced group with a portfolio of quality oil and gas assets managed by a team with excellent technical, commercial and financial skills.Its exploratory successes in the Jubilee and adjoining fields have made Ghana one of Tullow’s most important concessions.Ms Kainyah said the company was committed to improving the lot of the people in its area of operation to ensure that they led better lives.According to her, the company would not only provide employment opportunities for the people, but also equip them and small and medium enterprises (SMEs) with the requisite training.She explained that oil revenue would be used for the benefit of the people and described the discovery of oil in the country as a blessing.Ms Kainyah said the company would engage in sound environmental practices and indicated that its environmental impact assessment (EIA) would be made public next week by the Environmental Protection Agency (EPA).Mr Awal urged Tullow Ghana to learn from the problems some oil exploration companies were facing in other countries to avoid confrontation with the local people.He pledged the commitment of the GCGL to partner and work with the company and urged it to take advantage of the GCGL’s newspapers to do business in the country.According to him, the GCGL had 85 per cent of the market share, of which Tullow could take advantage as it operated in the country, adding that it should not wait until there were problems.He said G-Pak, a subsidiary of the GCGL, was also available for the printing of high quality labels.For his part, Mr Esson said the company was sponsoring 14 members of staff of the Ghana National Petroleum Corporation (GNPC) to pursue practical studies in various disciplines in oil and gas exploration and production, adding that 10 of them were into petroleum engineering.Tullow has interests in two exploration licences offshore Ghana — Deepwater Tano and West Cape Three Points.Both blocks lie in deep water and in 2007 two successful exploration wells located a substantial discovery which straddles the boundary between the two blocks, known as the Jubilee Field.In 2008, an accelerated Jubilee appraisal and development programme commenced on the field. The first appraisal well, Mahogany-2, was drilled in May, followed by the Hyedua-2 and Mahogany-3 wells at the end of 2008. The results from these wells indicated that Jubilee is a continuous stratigraphic trap with combined hydrocarbon columns in excess of 600 metres.