Category: General

Market traders in Koforidua in the Eastern region have expressed optimism that the tumbling inflation will finally bring some relief and allow them to offer their products at more affordable rates. According to the traders, this would not benefit them alone but also the consumers, as lower commodity prices would increase purchasing power and stimulate economic growth. In an interview with the Ghana News Agency in the New Juaben South Municipality, the traders said they have been facing the challenge of high inflation for quite some time, resulting in skyrocketing prices of goods and services. They also expressed optimism that business activities would pick up after the Christmas and New Year festivities, as inflation continues to moderate for the fifth consecutive month, reaching 23.2 per cent in December 2023, down from 26.4 per cent in November. According to Prof. Samuel Kobina Annin, the government statistician, the slower inflation in December could be attributed to the decreasing rates of food and n on-food inflation. As a response, some of the traders in Koforidua expressed the urgent need for a reduction in commodity prices to match the recent decrease in the inflation rate. Last May, Ghana secured a $3 billion loan from the International Monetary Fund to help tackle its ongoing economic crisis. The country has been facing challenges such as high inflation, increasing unemployment, and a weakening local currency against major trading currencies, particularly the US dollar. Ghana's annual inflation rate continued to decrease for the fifth consecutive month, with rates of 40.1 per cent in August, 38.1 per cent in September, and 35.2 per cent in October. However, these figures remain much higher than the central bank's target band of 6 to 10 per cent. Ms. Faustina Amoako, a clothes seller, said, 'It will be good if the government keeps taming the price growth and bolstering the currency as the months go by.' While Mr. Kofi Adu, an electrical gadget dealer, noted, 'We have just started the year, and I hope things will improve.' Still, some sellers of perishable goods like tomatoes, onions, and cabbage voiced their worries about the exorbitant cost of transportation involved in moving their products from the farm gates to market centres. According to Madam Hannah Osei, a seller of tomatoes, the recent surge in transport fares has had a negative impact on sales. This is because the increased costs have forced sellers to raise prices on their products, resulting in buyers being unable to purchase them in the desired quantities. She urged the transport operators to lower their fees as inflation drops. Source: Ghana News Agency

The Livelihood and Environment Ghana (LEG), a Sunyani-based environmentally inclined Non-Governmental Organisation (NGO) has issued a month ultimatum to Newmont Ahafo North Mine, to pay outstanding compensation of affected farmers in the Tano North Municipality, Ahafo Region. The NGO, which was registered in 2004 as a research and advocacy institution, promotes community rights and mineral governance, environmental sustainability and sustainable livelihood for marginalised people, including rural women and persons with disabilities. Mr Richard Adjei-Poku, the Executive Director of LEG, said the Organisation would have no other option than to arraign the company in court, if it failed to effect payment of the arrears to the affected farmers by the end of February 2024. Addressing a news conference in Sunyani, Mr Adjei-Poku explained that both Articles 20 (2a) of the 1992 Constitution, and Section 73 (1) of the Minerals and Mining Act, (Act 703, 2006), obliged companies to execute prompt payment of fair and adequate compensation to persons whose property (buildings, crops and lands) shall be affected by mineral mining operations. Additionally, the Compensation and Resettlement Regulation (2012, L.I. 2175 Section 4 (1) also mandated companies to pay property owners within three months after an amount of compensation payable had been agreed by parties, else payment of 10 per cent interest anytime compensation remained unpaid. 'Unfortunately, the Newmont Ahafo North Mine of Newmont Africa continues to be disdainful towards the farmers and laws of Ghana,' he stated. Describing the situation as 'exploitative and defiant,' Mr Adjei-Poku an environmentalist, alleged that Newmont 'failed to pay compensation arrears of the vulnerable farmers in Ahafo North whose compensation packages were manipulated by the same company and its allies'. 'Last year, the government issued an Executive Instrument compelling the concerned farmers in Ahafo North, who rejected Newmont's scanty compensation package, to accept it else they s hall use force to acquire the land'. He said it was a mystery why the government was still paying a deaf ear to the concerns of these vulnerable groups, as the company refused to pay them their arrears. Mr Adjei-Poku also quoted Section 100 (1) of the Minerals and Mining Act (Act 703, 2006), saying, it compelled the government and regulatory bodies to ensure proper implementation and companies' compliance of the mining laws. The United Nations Guiding Principles on Business and Human Rights (UNGPBHR, 2011) also compels governments to regularly review whether the laws are providing the necessary coverage to mining affected people and communities, he stated. Mr Adjei-Poku said it was unfortunate and disturbing that the government and relevant state institutions were all silent as the company breached the key provisions of the 1992 Constitution and the Minerals and Mining Act. He said, 'Newmont Corporation is the world's leading gold mining company, and it has attained this because of their production from Ahafo and Akyem mines in the country,' and called on the law enforcement agencies to ensure that the existing legislations worked for all, not only multinational mining companies. When contacted, Mr Samuel Osei, the Communications and External Relations Manager of the Newmont Ahafo North Project and Newmont Ahafo South Mines, told the Ghana News Agency (GNA) that the company would respond to the concerns soon. Source: Ghana News Agency

Two candidates Issam Lahmer and Fatma Bel Kilani will represent the locality of El Hancha in the Sfax 1 constituency in the runoff local elections. The two candidates obtained 460 votes and 331 votes, respectively, in the first round. Issam Lahmar promised to speed up the opening of the local hospital in El Hancha, upgrade infrastructure, provide subsidised fodder for farmers, create communitarian companies, encourage investment and set up a single window for administrative services. For her part, candidate Fatma Bel Kilani pledged to boost youth employment, support farmers and set up a single window for administrative services. Ten candidates from the five imadas of Ennasr, Sidi Hassan Belhaj, Bir ChaSba, El Hancha and Merkez Saleh are vying for the El Hancha delegation in the runoff. Source: Agence Tunis Afrique Presse

The Ho Municipal Assembly has begun processes to install Closed Circuit Cameras (CCTVs) at the Ho Central Market as part of measures to address growing security and sanitation challenges. This would enable the monitoring of security and refuse management in the market, which presently remains a challenge. A recent expose' by the Ghana News Agency highlighted the need to ensure more prudent mechanisms for keeping the commercial centre free of refuse, while also revealing the use of some mentally challenged persons as waste movers, who were dumping in newly built yet-to-be commissioned stores. Mr. Lawrence Senya, Municipal Environmental Health Officer, told the Ghana News Agency that the surveillance infrastructure, would also help to address the issue of criminals, causing further desecration of the new market complex. He said his outfit would collaborate with the Social Welfare Department and other relevant stakeholders to keep the mentally challenged out of the market, noting the non-existence of a desi gnated holding centre in the Municipality for such individuals. Structures at the market including gates, would be installed to secure the facility and address defaecation and urination, while behavioural challenges would be dealt with appropriately. Mr Senya spoke of the lack of a public address system for the market, affecting ground communication, and said plans were in place to install a horn system soon. He however said Police and City guards maintained their beats at the market and had spot fines ongoing to help discourage insanitary practices. The Environmental Health department would also engage the market leadership in working together to pursue effective sanitation. Other measures including the decongestion of the roads and passageways in and around the market would be implemented to aid sanitation management. Mr Senya explained that the construction of various modern waste processing facilities in the Municipality would drastically reduce the environmental hazards of waste. He said the prese nt allocation of 20 refuse skips to the Municipality was inadequate and that more would be required as a multi-million cedi integrated recycling and compost plant for the Region neared completion. He mentioned the increase in the number of private waste companies establishing in the Municipality, which he said would surely boost sanitation outcomes in the shortest possible time. Source: Ghana News Agency

Market traders in Koforidua in the Eastern region have expressed optimism that the tumbling inflation will finally bring some relief and allow them to offer their products at more affordable rates. According to the traders, this would not benefit them alone but also the consumers, as lower commodity prices would increase purchasing power and stimulate economic growth. In an interview with the Ghana News Agency in the New Juaben South Municipality, the traders said they have been facing the challenge of high inflation for quite some time, resulting in skyrocketing prices of goods and services. They also expressed optimism that business activities would pick up after the Christmas and New Year festivities, as inflation continues to moderate for the fifth consecutive month, reaching 23.2 per cent in December 2023, down from 26.4 per cent in November. According to Prof. Samuel Kobina Annin, the government statistician, the slower inflation in December could be attributed to the decreasing rates of food and n on-food inflation. As a response, some of the traders in Koforidua expressed the urgent need for a reduction in commodity prices to match the recent decrease in the inflation rate. Last May, Ghana secured a $3 billion loan from the International Monetary Fund to help tackle its ongoing economic crisis. The country has been facing challenges such as high inflation, increasing unemployment, and a weakening local currency against major trading currencies, particularly the US dollar. Ghana's annual inflation rate continued to decrease for the fifth consecutive month, with rates of 40.1 per cent in August, 38.1 per cent in September, and 35.2 per cent in October. However, these figures remain much higher than the central bank's target band of 6 to 10 per cent. Ms. Faustina Amoako, a clothes seller, said, 'It will be good if the government keeps taming the price growth and bolstering the currency as the months go by.' While Mr. Kofi Adu, an electrical gadget dealer, noted, 'We have just started the year, and I hope things will improve.' Still, some sellers of perishable goods like tomatoes, onions, and cabbage voiced their worries about the exorbitant cost of transportation involved in moving their products from the farm gates to market centres. According to Madam Hannah Osei, a seller of tomatoes, the recent surge in transport fares has had a negative impact on sales. This is because the increased costs have forced sellers to raise prices on their products, resulting in buyers being unable to purchase them in the desired quantities. She urged the transport operators to lower their fees as inflation drops. Source: Ghana News Agency