Category: Business

The Kumasi Metropolitan Assembly (KMA) was able to mobilize a total of GH?51,778,102.56 as revenue for 2022, as against its target of GH?54,200,000.00.

This represents 95.53 per cent of the revenue budget for 2022.

The current performance, however, is a one hundred percent increment of the revenue accrued in the previous year, 2021, which was GH? 22.3 million.

Mr. Samuel Pyne, the Metropolitan Chief Executive (MCE), described the Assembly’s performance as great, taking into account the economic difficulties during the year under review.

He was speaking at the first ordinary meeting of the fourth session of the eighth KMA in Kumasi.

According to Mr Pyne, the increased revenue mobilization was achieved through innovative and strategic measures such as the setting up of a monitoring team to conduct pre-audits, which helped significantly to reduce revenue leakages.

Again, the Assembly’s data center was completed and equipped with logistics to support and enhance prompt service delivery, he added.

The KMA Revenue Reporting System (KRRS) was developed and currently, all revenue centers are using it to report on all internally generated funds collected for the Assembly.

On the Assembly’s expenditure, the MCE said a total of GH?47,751,510.60 was spent on compensation, goods and services, grants and assets in 2022.

Mr. Pyne said on its resolve to build resilience and achieve the sustainable development goals, the assembly was embarking on the implementation of some selected projects and programme in line with the guidelines of the National Development Planning Commission.

The Assembly is currently undertaking 27 projects in education, roads, water and sanitation and governance.

Mr. Pyne said KMA was still in talks with the International Municipal Investment Fund to secure support for the construction of the Krofrom Market, a multi-Storey car park and rapid transit system in the city.

Source: Ghana News Agency

Angolan State has recovered around USD6 billion as part of the ongoing asset recovery process, both at home and abroad, the Deputy Attorney General Inocência Pinto said on Tuesday.

The Public Prosecutor’s Office magistrate also confirmed the seizure of around USD 21 billion from overseas.

The magistrate said that the Angolan State adopted a set of measures to combat cross-border economic and financial organised crime.

The measures, she said, include gathering evidence, breaking professional secrecy and confiscating assets in favour of the State.

Speaking at Workshop on Seizure and Management of Confiscated Assets, Inocência Pinto hailed the results, adding that the move encourages Angola to carry on the actions aimed at preventing and repressing bad practices in the management of the public purse.

The magistrate said it was a challenge to discuss the model adopted by Angola, known as the traditional or diffuse model, which gives priority to the creation of a trustee.

According to the magistrate, the National Asset Recovery Service has been working with several competent institutions for managing recovered assets, such as the General Treasury of Justice, the National Institute for State Assets and Holdings (IGAPE).

In turn, the representative of the United Nations Office on Drugs and Crime (UNODC), Manuela Carneiro, hailed the cooperation of the European Union (EU) in Angola in terms of support and fund the project and the continued effort to fight money laundering and organised crime in the country.

She stressed the commitment of the Italian Embassy and Government to agreed to support and strengthen bilateral cooperation, at the request of the OPG, as well as the facilitation and organisation of this event, which will allow the sharing of knowledge and experience between experts from both countries.

Whereas, Paulo Barroso Simões, representative of the EU, stressed that international institutions were increasingly aware of the situation in each country and efforts are being made to effectively combat organised crime.

He said that Angola and the EU had made strategic international political commitments, with a view to promoting sustainable policies, “and it is up to us, to implement them concretely.

The official noted that with the support of the United Nations Office on Drugs and Crime (UNODC), “we intend to bring to the beneficiary services expertise of the highest level, in order to share the most recent and effective capacities available”.

Gabriel Magnini, representative of the Italian Embassy in Angola, noted that the event testifies, once again, the commitment of the Angolan authorities in the fight against corruption and illicit financial flows.

Source: Angola Press News Agency (APNA)

President of the MPLA said Tuesday that the Executive has structuring projects in its portfolio that will have a great impact on the economic and social development of the country and on the increase in the supply of jobs.

João Lourenço, who is also President of the Republic, was speaking at the IV Ordinary Session of the Central Committee of the MPLA, which, among other matters, will debate the “Impact of Public Policies on the life of Youth”.

He highlighted that among the scheduled achievements are the entry into operation, at the end of the current year, of the Dr António Agostinho Neto International Airport, the completion, next year, of Porto do Caio in Cabinda, the construction of the new airports in Cabinda and Mbanza Congo and the Caculo Cabaça Hydroelectric Dam.

He added, as works to be completed, the Cabinda, Soyo and Lobito refineries, 17 tertiary hospitals in several provinces, as well as the General Pedalé, University, Main Military, Oncology, Specialized-burn-units and Ophthalmology hospitals, all in Luanda.

He also said that the complete rehabilitation of Américo Boavida Hospital will be carried out and that the programme to combat drought in southern Angola will be fully implemented, focusing on the provinces of Cunene, Namibe and Huíla, including the water solution for Lubango city (Huila).

João Lourenço said that the start of the Bita and Quilonga projects is scheduled to overcome the water deficit in Luanda and 11 University infrastructures will be built in the country.

He believes that such programmes will considerably increase job opportunities for young people, encouraging them to better serve their country on all fronts.

At party level, the President of the MPLA reported a greater appreciation of youth, with the enlargement of the composition of the Central Committee, in the belief that they could become leaders committed to the country.

He recommended work to ensure that young people, dedicated to work, will become the rulers of the future, without vices and excessive ambitions.

He urged the need to extend the militant work to the mobilisation of civil society and representative organisations of young people, students, women, workers, athletes, artists and composers, churches, among others.

In the international political domain, the MPLA leader reiterated the defence of an unconditional ceasefire and the start of negotiations between the parties directly involved in the conflict between Russia and Ukraine, for the establishment of a lasting peace between the two countries.

João Lourenço considers that lasting peace for Europe also implies direct negotiations between Russia and NATO, between Russia and the European Union.

“Europe can no longer be the epicenter of a new world war. We need to save Europe to save the world”, underlined the Head of State.

He advises that the US and China, due to the influence they enjoy, put aside what separates them and concert diplomatic actions aimed at resolving this conflict in Europe, in the sense of safeguarding world peace and security.

The president stated that the party must follow with due attention the latest events taking place in the world and that herald a return to the Cold War or even the design of a scenario worse than that of World War II, with alignments formed by two antagonistic axes.

Source: Angola Press News Agency (APNA)

Authorities charged with the fight against the sale of contraband petroleum products in the East region of Cameroon have raised concerns over the increase in the commercialization of the product.

A recent crackdown on dealers in the activity in that part of the country led to the confiscation of over 14,000 liters of illicit fuel, which authorities have said, accounts for the disruption of the production chain of petroleum products in Cameroon.

Health concerns constitute part of the worries raised. “Petroleum products are not supposed to be sold to consumers in containers and drums” Mr. Boussop, a member of the National Brigade for Petroleum Products in the East region indicates. He further discloses that the circulation is usually at its peak during weekends.

“During weekends, this activity intensifies,” the official says this makes them go as far as the Adamawa region in their control. “We go right up to Meiganga in the Adamawa region and Garoua-Boulai in the East region. Our aim is to completely solve this activity” Mr. Boussop notes.

As part of the measures taken already in the fight, a filling station in Garoua-Boulai has been sealed for selling contraband fuel. The authorities in the East region say moves of this nature will “help protect the government’s economic strategy”.

Source: Cameroon News Agency

More than 500 delegates are expected from all over the world to participate in the 53rd General Assembly of the World Trade Centres Association (WTCA) in Accra.

The General Assembly (GA 2023) will entail conferences, networking cocktails, Business to Business matchmaking and field trips.

Mr Edem Kofi Yevutsey, the Executive Director of World Trade Centre, Accra, updating the media on preparations for the conference, said there would be business delegations from at least 14 African countries.

The event is on the theme: ‘Towards African Economic Integration and enhanced Global Presence.’

The GA is typically a meeting of World Trade Centres and their business delegations, who then come together to explore new partnerships and opportunities towards meeting the World Trade Centres Association’s objective of delivering prosperity through trade and investment.

World Trade Centre Accra is part of a global network of more than 300 World Trade Centres worldwide, and headquartered in New York.

He said the business participations from across Africa, Asia, America and Europe would make GA 2023 a truly global event, creating an immense opportunities for beneficial partnerships, global business development, brand exposure and networking.

‘Currently, close to 400 delegates have registered from 64 countries,’ he said.

He said participating entities/companies could expect to benefit from partnerships for business growth and economic development, foreign direct investment and actionable insights.

The Executive Director said the GA 2023 was unique because it was the first time the GA was being held in sub-Saharan Africa.

‘ It also marks the return to physical GA’s for the Association after the GA’s in 2021 and 2022 were held virtually due to COVID,’ he said.

Mr Yevutsey said GA 2023 was happening at a crucial time when the African market was undergoing amalgamation due to the Africa Continental Free Trade Area agreement.

He said GA 2023 would be the largest gathering of investors, business executives and public sector decision-makers in Africa.

Partners include Africa Continental Free Trade Area Secretariat, Africa Export and Import Bank, Ministry of Foreign Affairs and Regional Integration, Namibia Investment Promotion and Development Board, Netherlands Africa Business Council, United Airlines, Delta Airlines, Ghana Tourism Authority and World Trade Centres around the world.

Source: Ghana News Agency

Mr William Kpormatsi, a Parliamentary primaries aspirant in the Akatsi South Constituency of the Volta Region is to facilitate the establishment of a welfare fund, business support programmes to members of the National Democratic Congress (NDC) in the area.

Mr Kpormatsi, who is also a financial and business investment expert and Chief Executive of W-Life Ventures, has said the welfare fund, with seed money of GHC400,000,00 would be exclusive to party executives from the branch to constituency as well as party elders in the constituency to cater for their health, social and financial needs.

Mr Kpormatsi gave the hint in an interview with the Ghana News Agency ahead of the Saturday, May 13 Parliamentary and Presidential primaries.

‘This I believe, would be a way of showing appreciation for their service to the party.’

Mr Kpormatsi indicated that he would create another business support programme dubbed ‘Kpormatsi Business Support Programme’ with seed money of GHC 200,000 to support startups, and medium and small-scale businesses meant to empower all executives to become self-sufficient.

On the safety and security of individuals and businesses, Mr Kpormatsi said he would engage Chiefs, youth groups, security agencies, opinion leaders, the clergy, and Assembly members to deliberate extensively on finding a lasting solution to the high records of criminal activities in the area over the years.

‘Akatsi shall be noted for development and progress rather than the crime. Change is crucial,’ he said.

He also pledged to continue investing in education, health, agriculture, and others if given the nod to represent the NDC and the people of Akatsi South in Parliament.

Mr Kpormatsi, who is highly recognised for his benevolence over the years, is making a third appearance after two failed attempts.

He is among two other candidates namely, Lawyer Bernard Ahiafor, the incumbent Member of Parliament who is seeking a fourth term slot, and Mr Samuel Benedict Nugblega, Director of Human Resource at the Christian Health Association of Ghana (CHAG) who is also making his second appearance.

Source: Ghana News Agency