Daily Guide Newspaper \u00bb Business<\/title><link \/><title>Newmont Expects Increase In Gold Production<\/title><link \/><title>Vodafone Launches Webbox<\/title><link \/><title>Barclays To Pay \u00a31bn Compensation<\/title><link \/><title>Ghana Fights Deforestation<\/title><link \/><title>MTN Subscriber Base 147.2m<\/title><link \/><title>Ghana Lacks Safeguards For Regulating Oil Industry<\/title><link \/><title>Unilever Posts Strong Results<\/title><link \/><title>uniBank, Western Publications Deepen Relationship<\/title><link \/><title>Agric Key To Africa\u2019s Growth<\/title><link \/><title>\u2018Banks Influence Internet Fraudsters\u2019<\/title><link \/><\/head><\/p>\nhttp:\/\/www.dailyguideghana.com GHANA’S LATEST AND LEADING NEWS NEWSPAPER, PROVIDING DAILY NEWS COVERAGE OF GHANA Wed, 11 May 2011 10:00:08 +0000 en hourly 1 http:\/\/wordpress.org\/?v=3.1.2 http:\/\/www.dailyguideghana.com\/?p=11871 http:\/\/www.dailyguideghana.com\/?p=11871#comments Wed, 11 May 2011 09:17:00 +0000 Nicholas <\/p>\n http:\/\/www.dailyguideghana.com\/?p=11871 \nContinue reading \u2192<\/span>]]><\/p>\n<a href=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/gold_bar.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-11872\" title=\"gold_bar\" src=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/gold_bar.jpg\" alt=\"\" width=\"300\" height=\"282\" \/><\/a><\/p>\nGold bar<\/p>\nNewmont Ghana Gold Limited expects an increase in its annual gold production at the Ahafo mine if new explorations being undertaken yield positive results.<\/p>\nCurrently, the yearly production at the mine is pegged at between 500,000 and 550,000 ounces of gold from four operational pits at Apensu, Subika, Awonsu and Amoma.<\/p>\nKojo Bedu-Addo, External Affairs Manager, said the company embarked on further exploration activities in Ahafo North and that the positive outcome from the field was expected to shore up production once it came on stream.<\/p>\nNewmont is expected to spend about $20 million on drilling at Ahafo North to better appreciate the extent of the Ahafo deposit.<\/p>\nBesides, the company is also undertaking the Subika Expansion to extend the mine life at Ahafo South and there is the possibility of underground development below the ultimate pit and layback potential.<\/p>\n\u201cThe company is looking at the option of an underground operation below the Subika pit. When this becomes successful Subika will be Newmont\u2019s first underground mine,\u201d Agebko Azumah, Communications Manager Newmont Ahafo said.<\/p>\nNewmont generates nearly 10 percent of Ghana\u2019s total exports and 4.5 percent of total Foreign Direct Investment, creating 48,000 direct, indirect and induced jobs.<\/p>\nIn the last two years, the company has spent $269 million about 49 percent of gross revenue on goods and services in the country.<\/p>\nIn 2009 alone, the company provided 99 local Ahafo companies with nearly US$6 million in contracts, supporting more than 400 jobs, Azumah said.<\/p>\nMr. Azumah said the company has so far paid $62 million in royalties since operations started in 2006.<\/p>\nHe said the company spent $17 million on resettlement of over 1,700 households and $16 million on crop compensations. In addition, $22.3 million was spent on livelihood re-establishment in the areas of Agriculture Improvement and Land Access Programme, Vulnerable People\u2019s programme and Skills Development programme, among others. Mr. Azumah said Newmont had put in place elaborate programmes to safeguard and protect the environment from the impact of its operations.<\/p>\nHe said a total of $5.1 million accrued to the Newmont Ahafo Development Foundation (NADeF) as at March 2011 out of which 1.9 million was spent on projects and investment.<\/p>\nUnder the programme, 1,508 scholarships worth $800,000 have been allocated to students across the 10 communities.<\/p>\nThe fund is a product of the Ahafo Social Responsibility Agreement between Newmont and the chiefs and people of host communities of the Ahafo Mine, signed in 2008 under which Newmont sets aside $1 of every ounce of gold and one percent of its annual net profit since the company started production in 2006.<\/p>\n]]> \n http:\/\/www.dailyguideghana.com\/?feed=rss2&p=11871 0 http:\/\/www.dailyguideghana.com\/?p=11868 http:\/\/www.dailyguideghana.com\/?p=11868#comments Wed, 11 May 2011 09:15:04 +0000 Nicholas <\/p>\n http:\/\/www.dailyguideghana.com\/?p=11868 \nContinue reading \u2192<\/span>]]><\/p>\n<a href=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/vodafon_webbox.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-11869\" title=\"vodafon_webbox\" src=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/vodafon_webbox.jpg\" alt=\"\" width=\"280\" height=\"280\" \/><\/a><\/p>\nVodafon Webbox<\/p>\nVodafone Ghana, an operating company of the world\u2019s leading mobile telecommunications giant, Vodafone Plc, has in another industry first launched the Vodafone Webbox in Ghana, which brings affordable internet access to customers\u2019 existing television sets by plugging in a keyboard.<\/p>\nThe Webbox, developed for consumers in emerging markets to bridge the digital divide, provides affordable, ready internet access at homes or workplaces.<\/p>\nThe unique device is suitable for businesses as it aids in training, business presentations, among other data services.<\/p>\nThe introduction of the Webbox is Vodafone\u2019s response to the use of television as a medium to deliver internet services to Ghanaians, including those in the rural communities, who have access to TVs but not computers and laptops and are within the Vodafone\u2019s network coverage areas.<\/p>\nVodafone has therefore satisfied the needs of its customers by providing an innovative all-in one product with great value that also offers the family an exciting experience due to its use on a standard TV set.<\/p>\nThe Web box allows the customer to navigate easily between the core services: Opera Mini 5.1 internet access; SMS and email messaging; internet search and media services including FM radio and a photo and video gallery, as well as video and music players.<\/p>\nThe Opera Mini browser runs over the 2.5G and EDGE mobile networks, compressing data by around 90 per cent and so serving fast-loading internet pages. The browser homepage comes with bookmarks such as news, sport and social networking sites, as well as locally relevant apps such as a job search and application service.<\/p>\nIn addition, the portal comes with some games, a dictionary and a basic text editor. Speaking at the exclusive launch of the product, Carmen Bruce-Annan, Head of Corporate Communications at Vodafone remarked that \u201cwhat we are offering our consumers is a very versatile and affordable product. It features an extensive archive of materials for the benefit of Ghanaians and bringing the internet to the TV- be it at home for the family in schools for education or in small businesses to assist local economic growth. This is a product that offers endless opportunities and delivers our brand promise of empowering our consumers to reach their full potential. \u201d<\/p>\nVodafone Ghana has started selling the Webbox through its retail stores across the country. The Webbox is a Vodafone concept and design, which is developed and manufactured exclusively for Vodafone with partner ZTE.<\/p>\nFrom Business Desk<\/em><\/strong><\/p>\n]]> \n http:\/\/www.dailyguideghana.com\/?feed=rss2&p=11868 0 http:\/\/www.dailyguideghana.com\/?p=11865 http:\/\/www.dailyguideghana.com\/?p=11865#comments Wed, 11 May 2011 09:11:17 +0000 Nicholas <\/p>\n http:\/\/www.dailyguideghana.com\/?p=11865 \nContinue reading \u2192<\/span>]]><\/p>\n<a href=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/bob_diamond.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-11866\" title=\"bob_diamond\" src=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/bob_diamond.jpg\" alt=\"\" width=\"300\" height=\"288\" \/><\/a><\/p>\nBob Diamond<\/p>\nBarclays put aside \u00a31bn ($1.64bn) to compensate people who were wrongly sold insurance and other United Kingdom banks backed down in their fight against accusations of mis-selling.<\/p>\nThe banks said on Monday they would drop a planned appeal against a court ruling which had made them liable to compensation claims over the mis-selling of payment protection insurance, according to Reuters on Monday. Analysts have said the case could cost banks around eight billion pounds ($13.1bn).<\/p>\n\u201cIn the interest of providing certainty for their customers, the banks and the British Bankers\u2019 Association have decided that they do not intend to appeal,\u201d the BBA said in a statement.<\/p>\nBarclays said it would make a one billion pound provision in the second quarter of 2011 to cover the cost of \u201cfuture redress and administration\u201d related to PPI mis-selling.<\/p>\nThe hit to Barclays comes after rival Lloyds last week unveiled a shock \u00a33.2bn charge to cover compensation.<\/p>\n\u201cMany people had already factored in this potential hit to Barclays last week after Lloyds announced its provision,\u201d said Canaccord Genuity analyst Cormac Leech, who has a \u201cbuy\u201d rating on Barclays shares.<\/p>\nBarclays said it had agreed with the Financial Services Authority regulator to contact customers and to assess the situation.<\/p>\n\u201cWe have taken this decision because it is in the best interest of our customers, as well as for Barclays and its shareholders; creating certainty, particularly regarding past issues, is of benefit to all parties,\u201d Barclays Chief Executive, Bob Diamond said in a statement.<\/p>\n\u201cWe don\u2019t always get things right for our customers; when we get them wrong, we apologise and put them right,\u201d he added.<\/p>\nThe payment protection insurance policies were typically taken out alongside a personal loan or mortgage to cover repayments if customers fell ill or lost their jobs.<\/p>\nBut the policies were mis-sold to self-employed or unemployed people, who would not have been able to claim and to consumers who did not realise they were taking out a policy, and last month a court ruled that the banks were at fault.<\/p>\nRoyal Bank of Scotland said last week that it was too early for it to estimate the possible impact but said settling claims could be \u201cmaterial.\u201d<\/p>\n]]> \n http:\/\/www.dailyguideghana.com\/?feed=rss2&p=11865 0 http:\/\/www.dailyguideghana.com\/?p=11862 http:\/\/www.dailyguideghana.com\/?p=11862#comments Wed, 11 May 2011 09:09:20 +0000 Nicholas <\/p>\n http:\/\/www.dailyguideghana.com\/?p=11862 \nContinue reading \u2192<\/span>]]><\/p>\n<a href=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/deforestation.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-11863\" title=\"deforestation\" src=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/deforestation.jpg\" alt=\"\" width=\"300\" height=\"241\" \/><\/a><\/p>\nMike Hammer (right) interacting with Prof. Kofi Awoonor and Dasebre Oseadeeyo Agyeman Babu, who chaired the function, after the launch of the International Forest year<\/p>\nThe activities of illegal chainsaw operators, bad agricultural practices and bush burning are eroding Ghana\u2019s forest cover but the country is adopting various measures to save its forest.<\/p>\nThe Ministry of lands and Natural Resources, in collaboration with the Forestry Commission with support from the nation\u2019s development partners, is addressing unregulated mining, excessive harvesting of wood for fuel and over exploitation of timber which leads to deforestation.<\/p>\nFrom the beginning of the century to date, the country\u2019s 8 million hectors of forest cover has reduced to a mere 1.2 hectors, loosing 65, 000 hectors every year and experts say in the next 25 years Ghana would not have any forest cover at all.<\/p>\nSpeaking at the launch of the International Year of Forests in Accra, Mike Allen Hammah, the Minister of Lands and Natural Resources, said several efforts are being made to address the issue of forest degradation through policy and legislative reforms, capacity building, awareness creation and consultation with major stakeholders in resources management.<\/p>\nThe United Nation\u2019s General Assembly in December 2006 declared year 2011 as the international year of forest to raise awareness on the need to conserve and develop all types of forests for the benefit of the current and future generations.<\/p>\nThemed, \u2018forest for people\u201d nations are expected to embark on various activities to raise awareness in the course of the year about the current challenges in the forest sector and how the trend of deforestation and forest degradation can be reversed.<\/p>\n\u201cGovernment is tackling the chain saw menace by establishing a law enforcement unit that will directly check illegal activities\u201d the Minister said, adding that a national security task force has also been instituted to check the transportation of illegal timber and wood product.<\/p>\nA wood procurement policy, he mentioned, would also be implemented to ensure that only legal wood is procured for government projects<\/p>\nHe asked the public to \u201cdemand timber on the domestic market from verified legal sources, if we are to realize our objective of sustainably managing our forest.\u201d<\/p>\nFlavio Chaves, Natural Resources Management Specialists of the World Bank, said all over the world the forest is depleting at a very fast rate \u201cand if nothing is done about is now future generation will perish\u201d<\/p>\nHe noted that the World Bank has expressed it willingness to support government of Ghana as part of its natural resources and environment management projects through technical and budgetary support.<\/p>\nThe World Bank will provide $3.4 million and another $50 million for the preparation of a climate change strategy and the implementation of forest strategy to reduce forest degradation respectively.<\/p>\nSherry Aryitey, Minister of Environemnt, Science and technology, stated that trees and forest are important in fighting climate change as they absorb carbon for growth and when we destroy them the carbon will be in the atmosphere to contribute to climate change.<\/p>\n\u201cThe fastest way of destroying the world is by destroying the forest.\u201d<\/p>\nForest cover has many benefits as it promotes biodiversity, reduces salinity and soil erosion and protect river.<\/p>\nTrees in the forest have medicinal properties, they act as water filters and improve water quality and the forest also serve as a source of livilhood and food for animals and people.<\/p>\nThe Chief Executive of the Forestry Commission, Samuel Afari Dartey asked people living near forest boundaries to report illegal forest activities, prevent indiscriminate bush burning and adopt farming systems to save the forest.<\/p>\nBy Emelia Ennin Abbey<\/strong><\/em><\/p>\n]]> \n http:\/\/www.dailyguideghana.com\/?feed=rss2&p=11862 0 http:\/\/www.dailyguideghana.com\/?p=11860 http:\/\/www.dailyguideghana.com\/?p=11860#comments Wed, 11 May 2011 09:06:18 +0000 Nicholas <\/p>\n http:\/\/www.dailyguideghana.com\/?p=11860 \nContinue reading \u2192<\/span>]]><\/p>\n<a href=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/04\/mtn.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-10636\" title=\"mtn\" src=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/04\/mtn.jpg\" alt=\"\" width=\"300\" height=\"273\" \/><\/a><\/p>\nMTN Logo<\/p>\nMTN Group Limited, Africa\u2019s largest mobile-phone company, said subscriber numbers rose four percent in the first three months of the year, as the company added customers in Nigeria and Iran.<\/p>\nMTN had 147.2 million subscribers at the end of March, the Johannesburg-based company said in a statement today.<\/p>\nThat compares with 141.6 million in the year ended December 31.<\/p>\nMobile data and mobile money applications bolstered the company\u2019s performance, with mobile money subscribers up 5 percent to 4.6 million, the company said.<\/p>\nMTN\u2019s subscribers rose 4 percent to 40.2 million in Nigeria and 4 percent to 9 million in Ghana. MTN Irancell grew by 5.5 percent to 31.3 million users, the company said.<\/p>\nThe company is facing \u201caggressive\u201d competition and increased regulation in the south and east Africa region, it said.<\/p>\n\u201cThe growth was slower than expected as a result of higher prepaid disconnections due mainly to seasonality,\u201d MTN said.<\/p>\nAverage revenue per user in South Africa decreased by 9 percent to 299 rand ($44.19) while in the prepaid segment average revenue declined 10 percent to 101 rand, the company said. In Nigeria average revenue per user dropped 6 percent to $10.<\/p>\nMeanwhile, the South African mobile operator says it has resolved a fee row with the government of Guinea that resulted in the seizure of its assets.<\/p>\nThe Reuters News Agency quotes an MTN Spokesperson as saying the dispute had been resolved but that it was a matter between them and the government and so can\u2019t give details.<\/p>\nGuinea\u2019s government seized assets belonging to MTN in the row over payment of a fee of 15 million Euros.<\/p>\nA decree signed by Guinea President, Alpha Conde said the government had decided to requisition all personnel, equipment, facilities and assets of the company from May 2, until the dispute is settled.<\/p>\nGuinean authorities had also warned MTN that it would suspend its operator\u2019s licence if a row over payments due to the government after MTN\u2019s 2007 acquisition of a local operator was not resolved by April 29.<\/p>\nMTN, which is Guinea\u2019s leading mobile operator with two million subscribers, operates under the Areeba brand.<\/p>\n]]> \n http:\/\/www.dailyguideghana.com\/?feed=rss2&p=11860 0 http:\/\/www.dailyguideghana.com\/?p=11857 http:\/\/www.dailyguideghana.com\/?p=11857#comments Wed, 11 May 2011 09:04:48 +0000 Nicholas <\/p>\n http:\/\/www.dailyguideghana.com\/?p=11857 \nContinue reading \u2192<\/span>]]><\/p>\n<a href=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/oil.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-11858\" title=\"oil\" src=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/oil.jpg\" alt=\"\" width=\"300\" height=\"251\" \/><\/a><\/p>\nOil<\/p>\nGhana has failed to implement key contracting and environmental safeguards for the country\u2019s fledgling oil and gas industry, a coalition of transparency groups said in a report.<\/p>\nThe West African nation hasn\u2019t publicly disclosed contracts with companies including U.K.-based Tullow Oil Plc (TLW), operator of the country\u2019s offshore Jubilee field and continues to negotiate exploration contracts in private rather than through open tenders, according to the Civil Society Platform on Oil and Gas in Ghana, which is sponsored by Oxfam America, World Bank and the Revenue Watch Institute.<\/p>\n\u201cGhana must follow the examples of Liberia, Peru and Ecuador which disclose their contracts regularly on government websites,\u201d the report said, adding that with closed-door negotiations and wide latitude for government negotiators, there is a risk of corruption.<\/p>\nGhana began production from Jubilee last year and output is expected to reach 120,000 barrels per day, this year.<\/p>\nCompanies including Switzerland-based Vitol Group, Houston-based Vanco Energy Co. and Rome-based Eni SpA (ENI) are among those with exploration permits in the area around Jubilee.<\/p>\nGhana\u2019s environmental agencies aren\u2019t able to properly monitor the industry, as was demonstrated by their response to the spill of oil-based drilling mud by Kosmos Energy Ltd. in 2009 and 2010, the report said.<\/p>\nA government committee recommended Kosmos pay a GH\u00a240 million ($26 million) fine for the discharge, even as it said Ghana\u2019s environmental agency didn\u2019t have \u201cadequate equipment or capacity\u201d to probe spills.<\/p>\nGhana and Kosmos, which is a partner in the Jubilee field and is backed by private equity firms Blackstone Group LP (BX) and Warburg Pincus LLP, settled the matter along with a number of other disputes in December.<\/p>\nPresident John Atta Mills declined to provide details of the settlement at a press conference in January or say whether Kosmos had paid a fine.<\/p>\nThe group praised the passage of an oil revenue management bill by Ghana\u2019s Parliament last month. That bill requires the publication of oil earnings in newspapers and establishes a savings fund to cushion the country against price shocks and establishes a public oversight committee.<\/p>\n\u2014Source: Bloomberg<\/strong><\/em><\/p>\n]]> \n http:\/\/www.dailyguideghana.com\/?feed=rss2&p=11857 0 http:\/\/www.dailyguideghana.com\/?p=11853 http:\/\/www.dailyguideghana.com\/?p=11853#comments Wed, 11 May 2011 09:03:02 +0000 Nicholas <\/p>\n http:\/\/www.dailyguideghana.com\/?p=11853 \nContinue reading \u2192<\/span>]]><\/p>\n<a href=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/david_mureithi.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-11854\" title=\"david_mureithi\" src=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/david_mureithi.jpg\" alt=\"\" width=\"300\" height=\"302\" \/><\/a><\/p>\nDavid Mureithi<\/p>\nUnilever Ghana Limited recorded strong results in 2010 after its revenue grew by 10.6 percent while operating profit inched up by 400 percent.<\/p>\nAccording to the 2010 financial performance, the consumer business recorded strong growth in major categories of home and personal care.<\/p>\nHowever, the food category delivered marginal growth following the refocusing of the portfolio.<\/p>\nThe growth of the consumer business was driven by the strengthening of the company\u2019s distribution network, strong partnership with distributors and increased marketing activities.<\/p>\nWith regard to the plantations, 2010 was good despite lower volumes recorded in the year.<\/p>\nOperating profit for the year was GH\u00a227.4 million as against GH\u00a25.5 million in 2009.<\/p>\nThe marginal gain was on account of improved product mix, stable exchange rate and savings initiatives undertaken by the business.<\/p>\nRestructuring expenses resulted in a cost of GH\u00a24.2 million in the year as against GH\u00a22.3 million in 2009.<\/p>\nAt the company\u2019s annual general meeting, David Mureithi, Managing Director of the company, said the company remains committed to creating long-term sustainable value for all shareholders.<\/p>\nThis, according to him, will be done through the promotion of its brands and strengthening of distribution network.<\/p>\n\u201cOur resolve to improve margins and profitability by reducing cost and improving operational efficiencies would be sustained.\u201d<\/p>\nIn line with the company\u2019s policy of consistent dividend payment in the past five years, a dividend payout of GH\u00a20.2871 per share, a 35 percent increase over the previous year was paid to all shareholders.<\/p>\nBy Charles Nixon Yeboah<\/em><\/strong><\/p>\n]]> \n http:\/\/www.dailyguideghana.com\/?feed=rss2&p=11853 0 http:\/\/www.dailyguideghana.com\/?p=11750 http:\/\/www.dailyguideghana.com\/?p=11750#comments Tue, 10 May 2011 09:52:01 +0000 Nicholas <\/p>\n http:\/\/www.dailyguideghana.com\/?p=11750 \nContinue reading \u2192<\/span>]]><\/p>\n<a href=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/unibank_guide.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-11751\" title=\"unibank_guide\" src=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/unibank_guide.jpg\" alt=\"\" width=\"300\" height=\"251\" \/><\/a><\/p>\nFortune Alimi (right) briefing Ammishaddai Owusu-Amoah (2nd right), Clifford Mettle (2nd left) and Richard Anane about how work goes on in the news room. PIX BY Gifty Lawson<\/p>\nuniBank Ghana Limited has boosted its relationship with Western Publications Limited to enhance the growth of the two entities.<\/p>\nThe Managing Director of the bank, Ammishaddai Owusu-Amoah led a team to visit the offices of Western Publications Limited, publishers of Daily Guide, Business Guide, NewsOne and Young Blazers Guide to cement the existing bond of partnership between the two organizations.<\/p>\nThey used the visit to inform management of Western Publications about the bank\u2019s forthcoming 10th Anniversary celebration, which according to industry watchers, is a \u201ccelebration of phenomenal growth.\u201d<\/p>\nWith only a branch about 10 years ago, the bank can now boast of 13 branches while its deposits grew by 67 per cent from GH\u00a2184.8 million in 2009 to GH\u00a2307.9 million in 2010 in spite of the existence of 44 non-bank financial institutions and 26 universal banks.<\/p>\nAt the same time, it equally created an appreciable portfolio of loans and advances amounting to GH\u00a2220.6 million in 2010, 99 per cent up from the 2009 figure of GH\u00a2110.8 million.<\/p>\nThe CEO, while tracing the journey of the bank so far, unfolded details of the impending celebration, an aspect of which is a medical outreach programme which is planned to benefit selected deprived areas.<\/p>\nDetermined not to rest on their oars, uniBank is set to do more in the banking industry, the CEO hinted. The Managing Director said he and his lieutenants were at Western Publications Limited to express gratitude for the support his outfit has received over the years.<\/p>\nThe first few years in the history of uniBank, he observed were devoted to setting up and developing appropriate softwares, adding that there are plans to establish more branches.<\/p>\nHe invited Daily Guide to join the bank in the journey into the future and promised uniBank\u2019s support for indigenous business.<\/p>\nAlready many small-scale businesses have tapped from the products of the bank to record appreciable growth within a short time of their establishment.<\/p>\nThe MD\/CEO lauded Daily Guide management for the growth the paper has recorded in the past few years and opened its doors for discussions on further business partnership between the two entities.<\/p>\nThe CEO was accompanied by Clifford Mettle, General Manager, Sales and Marketing and Richard Anane, Head of Coporate Affairs.<\/p>\nThe Business Development Manager, Western Publications Limited, Kwame Blay, spoke about the new face of Western Publications Limited, which currently encompasses a number of subsidiaries among them a printing inputs import company.<\/p>\nHe noted that the bank is an important client of Western Publications with many staff holding salary accounts with the financial institution.<\/p>\nThe Editor of Daily Guide, Fortune Alimi expressed his elation about the visit, the first by a top management of the bank to the newspaper house.<\/p>\nHe called for a deepening of the bond between the two establishments as he acknowledged the current uniBank advertisements being carried in the newspaper. The visitors later undertook a facility tour of the company.<\/p>\n\u2026Intensifies Mass Marketing Campaign<\/p>\nuniBank Ghana Limited last Friday continued its mass marketing campaign at Spintex and its environs in the Greater Accra region by selling the bank\u2019s products to numerous Ghanaians there.<\/p>\nThe campaign, initiated by the SME Department, will be extended to other branches.<\/p>\nIt is in line with the bank\u2019s strategy for growth and business development in 2011.<\/p>\nSome relationship managers of the bank offered advisory services and also educated potential customers about some of the bank\u2019s products including electronic products such as uni-alert and uni-mobile.<\/p>\nThey also took the opportunity to sell products such as trade logistics credit since the bank considers Small and Medium-scale Enterprises (SMEs) as its key target. Under the trade logistics credit, the bank will make available high speed trade logistic products to businesses<\/p>\nSamuel Sakyi-Hyde, Head of SME Banking said, \u201cThese campaigns are structured to ensure that the department achieves its target for the year as well as enlarges the bank\u2019s market share of the SME sector to give as a \u2018quantum leap\u2019 in resultant banking and transactional activities.\u201d<\/p>\nThe campaign has been designed to give relationship managers a valuable opportunity to interact with prospective clients within their working environment thereby taking uniBank\u2019s unique products and services to their doorsteps.<\/p>\nAll accounts won during the mass marketing campaign will be assigned to the branches where the campaign took place.<\/p>\nThe campaign is aimed at increasing the SME portfolios of the various branches to generate substantial increase in business activities at the branches.<\/p>\n\u201cSince the bank has the SME industry as one of its key banking target, these campaigns will increase the bank\u2019s recognition and exposure to businesses in the sector,\u201d Mr. Sakyi-Hyde added.<\/p>\nSeveral accounts were opened for new clients by the Relationship Managers and the Direct Sales Officers (DSOs).<\/p>\nSince its inception, uniBank has carved a niche for itself in the SME sector.<\/p>\nIts objective is to ensure the growth of SMEs into big entities that can improve the economy.<\/p>\nBy AR Gomda & Charles Nixon Yeboah<\/em><\/strong><\/p>\n]]> \n http:\/\/www.dailyguideghana.com\/?feed=rss2&p=11750 0 http:\/\/www.dailyguideghana.com\/?p=11747 http:\/\/www.dailyguideghana.com\/?p=11747#comments Tue, 10 May 2011 09:48:58 +0000 Nicholas <\/p>\n http:\/\/www.dailyguideghana.com\/?p=11747 \nContinue reading \u2192<\/span>]]><\/p>\n<a href=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/agric_fare.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-11748\" title=\"agric_fare\" src=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/agric_fare.jpg\" alt=\"\" width=\"300\" height=\"251\" \/><\/a>Government and private sector leaders have stated that\u00a0 with the right policies and investment approaches, the agricultural sector can help invigorate economic growth across Africa.<\/p>\nThey disclosed this at an event organized by the International Fund for Agricultural Development (IFAD) on the sidelines of the World Economic Forum on Africa 2011.<\/p>\nThe conference, \u201cNew challenges, new opportunities: African agriculture in the 21st century,\u201d was jointly held by the South African Institute for International Affairs (SAIIA) and featured the presentation of IFAD\u2019s Rural Poverty Report 2011.<\/p>\nTina Joemat-Pettersson, Minister of Agriculture, Forestry and Fisheries of the Republic of South Africa, in a keynote address, noted that well functioning agricultural markets are essential for rural growth and poverty reduction and that modern markets and value chains are bringing new opportunities for smallholder farmers on the continent. \u201cMost rural households are connected with markets, as sellers of produce, buyers of food, or both. However, the extent to which they are involved varies considerably,\u201d she said.<\/p>\n\u201cThe rapid emergence of supermarkets, for example, is spurring the establishment of modern value chains, particularly for high-value foodstuffs. This is not only a source of opportunities for smallholder farmers, but also a means of creating demand for labor and services from other rural people.\u201d<\/p>\nIFAD President, Kanayo F. Nwanze told the audience that while donor support will continue to be important, the continent itself will have to generate the changes that will lead to transformation.<\/p>\nCiting the Rural Poverty Report 2011, he called for national policies and investment approaches to support rural infrastructure development and greater private sector involvement in agriculture.<\/p>\n\u201cThe report shows that many poor people have the capacity and the desire to build better lives for themselves. What they lack is access, opportunity and infrastructure,\u201d he said. \u201cIt is time to stop treating them as charity cases and instead focus on helping them to grow their businesses \u2013 first to achieve food security and then to produce a surplus. By doing this we will allow them to break definitively out of poverty.\u201d<\/p>\nJumanne Abdallah Maghembe, Minister for Agriculture, Food Security and Co-operatives of Tanzania, emphasized the importance of creating a better environment for small farmers to develop their businesses.<\/p>\n\u201cThere is a dire need to invest in smallholders, particularly in creating rural infrastructure to support them as they develop their production capacity. By looking at the realities of regions and villages and tailoring solutions for them, we can transform lives,\u201d he said.<\/p>\nAt a spirited panel discussion moderated by BBC presenter Komla Dumor, panelists offered a range of views and ideas on how to improve the economic climate for agriculture and rural businesses.<\/p>\nThey also discussed how to help smallholder farmers to reduce the risks they face so that they can improve their operations and expand rural education for a more knowledge-intensive agriculture.<\/p>\n\u201cAgricultural production in Africa can be increased by a factor of 10 to 20,\u201d said Agnes Matilda Kalibata, Minister of Agriculture and Animal Resources of the Republic of Rwanda.<\/p>\n\u201cBut to do that we have to educate our banks about supporting smallholders, as well as equipping our rural youth with a better educational system and vocational training.\u201d<\/p>\nAkin Adesina, Vice President of the Alliance for a Green Revolution in Africa (AGRA), emphasized that making smallholder agriculture more profitable is the best way to lift rural people out of poverty and to ensure food security. \u201cWe need to focus on value chains with the goal of getting our young people to see agriculture as a good business for them to be in,\u201d he said.<\/p>\n\u201cAfrica must start using its own resources to make this happen by connecting banks and micro-finance institutions with farmers themselves.\u201d<\/p>\n]]> \n http:\/\/www.dailyguideghana.com\/?feed=rss2&p=11747 0 http:\/\/www.dailyguideghana.com\/?p=11744 http:\/\/www.dailyguideghana.com\/?p=11744#comments Tue, 10 May 2011 09:45:31 +0000 Nicholas <\/p>\n http:\/\/www.dailyguideghana.com\/?p=11744 \nContinue reading \u2192<\/span>]]><\/p>\n<a href=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/paa_kwesi_amissah_arthur.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-11745\" title=\"paa_kwesi_amissah_arthur\" src=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/paa_kwesi_amissah_arthur.jpg\" alt=\"\" width=\"300\" height=\"266\" \/><\/a><\/p>\nPaa Kwesi Amissah Arthur – Governor of BoG<\/p>\nThe former Director of the Economic and Organized Crime Office (EOCO), Alhaji Mohammed Abdullah, has described some banks in the country as \u2018key associates\u2019 who fuel the activities of internet fraudsters.<\/p>\nAlhaji Abdullah stated that some banks connive with the fraudsters in duping foreign investors of millions of US dollars every year, as fraudsters always withdraw money from the banks with ease.<\/p>\nAccording to him, research has established that banks in Ghana get the lion\u2019s share of the booty from the activities of the internet fraudsters.<\/p>\nThe former EOCO boss made the observation at a gathering of some stakeholders in Sunyani.<\/p>\nThe meeting was part of activities marking the 11th Annual National Constitution Week Celebration on the theme, \u201cThe State of Ghana\u2019s Democracy\u201d with corruption as the sub-topic. Alhaji Abdullah said the trend is increasingly becoming an avenue for banks to boost their financial assets, survive in a competitive banking industry, as well as meet the Bank of Ghana\u2019s minimum capital requirement.<\/p>\nHe therefore called on the Central Bank to uncompromisingly scrutinize the dealings of banks to arrest the canker in order to redeem the image of Ghana internationally.<\/p>\nOn political parties\u2019 primaries, he said the level of vote buying by some candidates shows how some Ghanaian politicians are engaged in corruption.<\/p>\nAlhaji Abdullah therefore stressed the need for the phenomenon of vote buying to be discouraged at that level so as to elect credible leaders to manage the affairs of the country.<\/p>\nTouching on local governance, he stated that investigations have also shown that MMDAs are in the league of corrupt institutions in the country.<\/p>\nAccording to Alhaji Abdullah, misappropriation of funds at the Assemblies was seriously affecting development at the local level.<\/p>\nFor her part, the Deputy Chairman of the National Commission on Civic Education (NCCE), Augustina Akosua Akumanyi, raised concerns over how some media practitioners openly declare their political affiliation.<\/p>\nMrs. Akosua Akumanyi was of the view that the practice impacts on journalists sense of neutrality in the fight against corruption.<\/p>\nFrom Vivianna Mensah, Sunyani<\/em><\/strong><\/p>\n]]> \n http:\/\/www.dailyguideghana.com\/?feed=rss2&p=11744 1\n<\/p><\/div>\n<div readability=\"5\"><title>Daily Guide Newspaper \u00bb Business<\/title><link \/><title>Newmont Expects Increase In Gold Production<\/title><link \/><title>Vodafone Launches Webbox<\/title><link \/><title>Barclays To Pay \u00a31bn Compensation<\/title><link \/><title>Ghana Fights Deforestation<\/title><link \/><title>MTN Subscriber Base 147.2m<\/title><link \/><title>Ghana Lacks Safeguards For Regulating Oil Industry<\/title><link \/><title>Unilever Posts Strong Results<\/title><link \/><title>uniBank, Western Publications Deepen Relationship<\/title><link \/><title>Agric Key To Africa\u2019s Growth<\/title><link \/><title>\u2018Banks Influence Internet Fraudsters\u2019<\/title><link \/>\nhttp:\/\/www.dailyguideghana.com GHANA’S LATEST AND LEADING NEWS NEWSPAPER, PROVIDING DAILY NEWS COVERAGE OF GHANA Wed, 11 May 2011 10:00:08 +0000 en hourly 1 http:\/\/wordpress.org\/?v=3.1.2 http:\/\/www.dailyguideghana.com\/?p=11871 http:\/\/www.dailyguideghana.com\/?p=11871#comments Wed, 11 May 2011 09:17:00 +0000 Nicholas <\/p>\n http:\/\/www.dailyguideghana.com\/?p=11871 \nContinue reading \u2192<\/span>]]><\/p>\n<a href=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/gold_bar.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-11872\" title=\"gold_bar\" src=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/gold_bar.jpg\" alt=\"\" width=\"300\" height=\"282\" \/><\/a><\/p>\nGold bar<\/p>\nNewmont Ghana Gold Limited expects an increase in its annual gold production at the Ahafo mine if new explorations being undertaken yield positive results.<\/p>\nCurrently, the yearly production at the mine is pegged at between 500,000 and 550,000 ounces of gold from four operational pits at Apensu, Subika, Awonsu and Amoma.<\/p>\nKojo Bedu-Addo, External Affairs Manager, said the company embarked on further exploration activities in Ahafo North and that the positive outcome from the field was expected to shore up production once it came on stream.<\/p>\nNewmont is expected to spend about $20 million on drilling at Ahafo North to better appreciate the extent of the Ahafo deposit.<\/p>\nBesides, the company is also undertaking the Subika Expansion to extend the mine life at Ahafo South and there is the possibility of underground development below the ultimate pit and layback potential.<\/p>\n\u201cThe company is looking at the option of an underground operation below the Subika pit. When this becomes successful Subika will be Newmont\u2019s first underground mine,\u201d Agebko Azumah, Communications Manager Newmont Ahafo said.<\/p>\nNewmont generates nearly 10 percent of Ghana\u2019s total exports and 4.5 percent of total Foreign Direct Investment, creating 48,000 direct, indirect and induced jobs.<\/p>\nIn the last two years, the company has spent $269 million about 49 percent of gross revenue on goods and services in the country.<\/p>\nIn 2009 alone, the company provided 99 local Ahafo companies with nearly US$6 million in contracts, supporting more than 400 jobs, Azumah said.<\/p>\nMr. Azumah said the company has so far paid $62 million in royalties since operations started in 2006.<\/p>\nHe said the company spent $17 million on resettlement of over 1,700 households and $16 million on crop compensations. In addition, $22.3 million was spent on livelihood re-establishment in the areas of Agriculture Improvement and Land Access Programme, Vulnerable People\u2019s programme and Skills Development programme, among others. Mr. Azumah said Newmont had put in place elaborate programmes to safeguard and protect the environment from the impact of its operations.<\/p>\nHe said a total of $5.1 million accrued to the Newmont Ahafo Development Foundation (NADeF) as at March 2011 out of which 1.9 million was spent on projects and investment.<\/p>\nUnder the programme, 1,508 scholarships worth $800,000 have been allocated to students across the 10 communities.<\/p>\nThe fund is a product of the Ahafo Social Responsibility Agreement between Newmont and the chiefs and people of host communities of the Ahafo Mine, signed in 2008 under which Newmont sets aside $1 of every ounce of gold and one percent of its annual net profit since the company started production in 2006.<\/p>\n]]> \n http:\/\/www.dailyguideghana.com\/?feed=rss2&p=11871 0 http:\/\/www.dailyguideghana.com\/?p=11868 http:\/\/www.dailyguideghana.com\/?p=11868#comments Wed, 11 May 2011 09:15:04 +0000 Nicholas <\/p>\n http:\/\/www.dailyguideghana.com\/?p=11868 \nContinue reading \u2192<\/span>]]><\/p>\n<a href=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/vodafon_webbox.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-11869\" title=\"vodafon_webbox\" src=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/vodafon_webbox.jpg\" alt=\"\" width=\"280\" height=\"280\" \/><\/a><\/p>\nVodafon Webbox<\/p>\nVodafone Ghana, an operating company of the world\u2019s leading mobile telecommunications giant, Vodafone Plc, has in another industry first launched the Vodafone Webbox in Ghana, which brings affordable internet access to customers\u2019 existing television sets by plugging in a keyboard.<\/p>\nThe Webbox, developed for consumers in emerging markets to bridge the digital divide, provides affordable, ready internet access at homes or workplaces.<\/p>\nThe unique device is suitable for businesses as it aids in training, business presentations, among other data services.<\/p>\nThe introduction of the Webbox is Vodafone\u2019s response to the use of television as a medium to deliver internet services to Ghanaians, including those in the rural communities, who have access to TVs but not computers and laptops and are within the Vodafone\u2019s network coverage areas.<\/p>\nVodafone has therefore satisfied the needs of its customers by providing an innovative all-in one product with great value that also offers the family an exciting experience due to its use on a standard TV set.<\/p>\nThe Web box allows the customer to navigate easily between the core services: Opera Mini 5.1 internet access; SMS and email messaging; internet search and media services including FM radio and a photo and video gallery, as well as video and music players.<\/p>\nThe Opera Mini browser runs over the 2.5G and EDGE mobile networks, compressing data by around 90 per cent and so serving fast-loading internet pages. The browser homepage comes with bookmarks such as news, sport and social networking sites, as well as locally relevant apps such as a job search and application service.<\/p>\nIn addition, the portal comes with some games, a dictionary and a basic text editor. Speaking at the exclusive launch of the product, Carmen Bruce-Annan, Head of Corporate Communications at Vodafone remarked that \u201cwhat we are offering our consumers is a very versatile and affordable product. It features an extensive archive of materials for the benefit of Ghanaians and bringing the internet to the TV- be it at home for the family in schools for education or in small businesses to assist local economic growth. This is a product that offers endless opportunities and delivers our brand promise of empowering our consumers to reach their full potential. \u201d<\/p>\nVodafone Ghana has started selling the Webbox through its retail stores across the country. The Webbox is a Vodafone concept and design, which is developed and manufactured exclusively for Vodafone with partner ZTE.<\/p>\nFrom Business Desk<\/em><\/strong><\/p>\n]]> \n http:\/\/www.dailyguideghana.com\/?feed=rss2&p=11868 0 http:\/\/www.dailyguideghana.com\/?p=11865 http:\/\/www.dailyguideghana.com\/?p=11865#comments Wed, 11 May 2011 09:11:17 +0000 Nicholas <\/p>\n http:\/\/www.dailyguideghana.com\/?p=11865 \nContinue reading \u2192<\/span>]]><\/p>\n<a href=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/bob_diamond.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-11866\" title=\"bob_diamond\" src=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/bob_diamond.jpg\" alt=\"\" width=\"300\" height=\"288\" \/><\/a><\/p>\nBob Diamond<\/p>\nBarclays put aside \u00a31bn ($1.64bn) to compensate people who were wrongly sold insurance and other United Kingdom banks backed down in their fight against accusations of mis-selling.<\/p>\nThe banks said on Monday they would drop a planned appeal against a court ruling which had made them liable to compensation claims over the mis-selling of payment protection insurance, according to Reuters on Monday. Analysts have said the case could cost banks around eight billion pounds ($13.1bn).<\/p>\n\u201cIn the interest of providing certainty for their customers, the banks and the British Bankers\u2019 Association have decided that they do not intend to appeal,\u201d the BBA said in a statement.<\/p>\nBarclays said it would make a one billion pound provision in the second quarter of 2011 to cover the cost of \u201cfuture redress and administration\u201d related to PPI mis-selling.<\/p>\nThe hit to Barclays comes after rival Lloyds last week unveiled a shock \u00a33.2bn charge to cover compensation.<\/p>\n\u201cMany people had already factored in this potential hit to Barclays last week after Lloyds announced its provision,\u201d said Canaccord Genuity analyst Cormac Leech, who has a \u201cbuy\u201d rating on Barclays shares.<\/p>\nBarclays said it had agreed with the Financial Services Authority regulator to contact customers and to assess the situation.<\/p>\n\u201cWe have taken this decision because it is in the best interest of our customers, as well as for Barclays and its shareholders; creating certainty, particularly regarding past issues, is of benefit to all parties,\u201d Barclays Chief Executive, Bob Diamond said in a statement.<\/p>\n\u201cWe don\u2019t always get things right for our customers; when we get them wrong, we apologise and put them right,\u201d he added.<\/p>\nThe payment protection insurance policies were typically taken out alongside a personal loan or mortgage to cover repayments if customers fell ill or lost their jobs.<\/p>\nBut the policies were mis-sold to self-employed or unemployed people, who would not have been able to claim and to consumers who did not realise they were taking out a policy, and last month a court ruled that the banks were at fault.<\/p>\nRoyal Bank of Scotland said last week that it was too early for it to estimate the possible impact but said settling claims could be \u201cmaterial.\u201d<\/p>\n]]> \n http:\/\/www.dailyguideghana.com\/?feed=rss2&p=11865 0 http:\/\/www.dailyguideghana.com\/?p=11862 http:\/\/www.dailyguideghana.com\/?p=11862#comments Wed, 11 May 2011 09:09:20 +0000 Nicholas <\/p>\n http:\/\/www.dailyguideghana.com\/?p=11862 \nContinue reading \u2192<\/span>]]><\/p>\n<a href=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/deforestation.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-11863\" title=\"deforestation\" src=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/deforestation.jpg\" alt=\"\" width=\"300\" height=\"241\" \/><\/a><\/p>\nMike Hammer (right) interacting with Prof. Kofi Awoonor and Dasebre Oseadeeyo Agyeman Babu, who chaired the function, after the launch of the International Forest year<\/p>\nThe activities of illegal chainsaw operators, bad agricultural practices and bush burning are eroding Ghana\u2019s forest cover but the country is adopting various measures to save its forest.<\/p>\nThe Ministry of lands and Natural Resources, in collaboration with the Forestry Commission with support from the nation\u2019s development partners, is addressing unregulated mining, excessive harvesting of wood for fuel and over exploitation of timber which leads to deforestation.<\/p>\nFrom the beginning of the century to date, the country\u2019s 8 million hectors of forest cover has reduced to a mere 1.2 hectors, loosing 65, 000 hectors every year and experts say in the next 25 years Ghana would not have any forest cover at all.<\/p>\nSpeaking at the launch of the International Year of Forests in Accra, Mike Allen Hammah, the Minister of Lands and Natural Resources, said several efforts are being made to address the issue of forest degradation through policy and legislative reforms, capacity building, awareness creation and consultation with major stakeholders in resources management.<\/p>\nThe United Nation\u2019s General Assembly in December 2006 declared year 2011 as the international year of forest to raise awareness on the need to conserve and develop all types of forests for the benefit of the current and future generations.<\/p>\nThemed, \u2018forest for people\u201d nations are expected to embark on various activities to raise awareness in the course of the year about the current challenges in the forest sector and how the trend of deforestation and forest degradation can be reversed.<\/p>\n\u201cGovernment is tackling the chain saw menace by establishing a law enforcement unit that will directly check illegal activities\u201d the Minister said, adding that a national security task force has also been instituted to check the transportation of illegal timber and wood product.<\/p>\nA wood procurement policy, he mentioned, would also be implemented to ensure that only legal wood is procured for government projects<\/p>\nHe asked the public to \u201cdemand timber on the domestic market from verified legal sources, if we are to realize our objective of sustainably managing our forest.\u201d<\/p>\nFlavio Chaves, Natural Resources Management Specialists of the World Bank, said all over the world the forest is depleting at a very fast rate \u201cand if nothing is done about is now future generation will perish\u201d<\/p>\nHe noted that the World Bank has expressed it willingness to support government of Ghana as part of its natural resources and environment management projects through technical and budgetary support.<\/p>\nThe World Bank will provide $3.4 million and another $50 million for the preparation of a climate change strategy and the implementation of forest strategy to reduce forest degradation respectively.<\/p>\nSherry Aryitey, Minister of Environemnt, Science and technology, stated that trees and forest are important in fighting climate change as they absorb carbon for growth and when we destroy them the carbon will be in the atmosphere to contribute to climate change.<\/p>\n\u201cThe fastest way of destroying the world is by destroying the forest.\u201d<\/p>\nForest cover has many benefits as it promotes biodiversity, reduces salinity and soil erosion and protect river.<\/p>\nTrees in the forest have medicinal properties, they act as water filters and improve water quality and the forest also serve as a source of livilhood and food for animals and people.<\/p>\nThe Chief Executive of the Forestry Commission, Samuel Afari Dartey asked people living near forest boundaries to report illegal forest activities, prevent indiscriminate bush burning and adopt farming systems to save the forest.<\/p>\nBy Emelia Ennin Abbey<\/strong><\/em><\/p>\n]]> \n http:\/\/www.dailyguideghana.com\/?feed=rss2&p=11862 0 http:\/\/www.dailyguideghana.com\/?p=11860 http:\/\/www.dailyguideghana.com\/?p=11860#comments Wed, 11 May 2011 09:06:18 +0000 Nicholas <\/p>\n http:\/\/www.dailyguideghana.com\/?p=11860 \nContinue reading \u2192<\/span>]]><\/p>\n<a href=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/04\/mtn.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-10636\" title=\"mtn\" src=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/04\/mtn.jpg\" alt=\"\" width=\"300\" height=\"273\" \/><\/a><\/p>\nMTN Logo<\/p>\nMTN Group Limited, Africa\u2019s largest mobile-phone company, said subscriber numbers rose four percent in the first three months of the year, as the company added customers in Nigeria and Iran.<\/p>\nMTN had 147.2 million subscribers at the end of March, the Johannesburg-based company said in a statement today.<\/p>\nThat compares with 141.6 million in the year ended December 31.<\/p>\nMobile data and mobile money applications bolstered the company\u2019s performance, with mobile money subscribers up 5 percent to 4.6 million, the company said.<\/p>\nMTN\u2019s subscribers rose 4 percent to 40.2 million in Nigeria and 4 percent to 9 million in Ghana. MTN Irancell grew by 5.5 percent to 31.3 million users, the company said.<\/p>\nThe company is facing \u201caggressive\u201d competition and increased regulation in the south and east Africa region, it said.<\/p>\n\u201cThe growth was slower than expected as a result of higher prepaid disconnections due mainly to seasonality,\u201d MTN said.<\/p>\nAverage revenue per user in South Africa decreased by 9 percent to 299 rand ($44.19) while in the prepaid segment average revenue declined 10 percent to 101 rand, the company said. In Nigeria average revenue per user dropped 6 percent to $10.<\/p>\nMeanwhile, the South African mobile operator says it has resolved a fee row with the government of Guinea that resulted in the seizure of its assets.<\/p>\nThe Reuters News Agency quotes an MTN Spokesperson as saying the dispute had been resolved but that it was a matter between them and the government and so can\u2019t give details.<\/p>\nGuinea\u2019s government seized assets belonging to MTN in the row over payment of a fee of 15 million Euros.<\/p>\nA decree signed by Guinea President, Alpha Conde said the government had decided to requisition all personnel, equipment, facilities and assets of the company from May 2, until the dispute is settled.<\/p>\nGuinean authorities had also warned MTN that it would suspend its operator\u2019s licence if a row over payments due to the government after MTN\u2019s 2007 acquisition of a local operator was not resolved by April 29.<\/p>\nMTN, which is Guinea\u2019s leading mobile operator with two million subscribers, operates under the Areeba brand.<\/p>\n]]> \n http:\/\/www.dailyguideghana.com\/?feed=rss2&p=11860 0 http:\/\/www.dailyguideghana.com\/?p=11857 http:\/\/www.dailyguideghana.com\/?p=11857#comments Wed, 11 May 2011 09:04:48 +0000 Nicholas <\/p>\n http:\/\/www.dailyguideghana.com\/?p=11857 \nContinue reading \u2192<\/span>]]><\/p>\n<a href=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/oil.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-11858\" title=\"oil\" src=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/oil.jpg\" alt=\"\" width=\"300\" height=\"251\" \/><\/a><\/p>\nOil<\/p>\nGhana has failed to implement key contracting and environmental safeguards for the country\u2019s fledgling oil and gas industry, a coalition of transparency groups said in a report.<\/p>\nThe West African nation hasn\u2019t publicly disclosed contracts with companies including U.K.-based Tullow Oil Plc (TLW), operator of the country\u2019s offshore Jubilee field and continues to negotiate exploration contracts in private rather than through open tenders, according to the Civil Society Platform on Oil and Gas in Ghana, which is sponsored by Oxfam America, World Bank and the Revenue Watch Institute.<\/p>\n\u201cGhana must follow the examples of Liberia, Peru and Ecuador which disclose their contracts regularly on government websites,\u201d the report said, adding that with closed-door negotiations and wide latitude for government negotiators, there is a risk of corruption.<\/p>\nGhana began production from Jubilee last year and output is expected to reach 120,000 barrels per day, this year.<\/p>\nCompanies including Switzerland-based Vitol Group, Houston-based Vanco Energy Co. and Rome-based Eni SpA (ENI) are among those with exploration permits in the area around Jubilee.<\/p>\nGhana\u2019s environmental agencies aren\u2019t able to properly monitor the industry, as was demonstrated by their response to the spill of oil-based drilling mud by Kosmos Energy Ltd. in 2009 and 2010, the report said.<\/p>\nA government committee recommended Kosmos pay a GH\u00a240 million ($26 million) fine for the discharge, even as it said Ghana\u2019s environmental agency didn\u2019t have \u201cadequate equipment or capacity\u201d to probe spills.<\/p>\nGhana and Kosmos, which is a partner in the Jubilee field and is backed by private equity firms Blackstone Group LP (BX) and Warburg Pincus LLP, settled the matter along with a number of other disputes in December.<\/p>\nPresident John Atta Mills declined to provide details of the settlement at a press conference in January or say whether Kosmos had paid a fine.<\/p>\nThe group praised the passage of an oil revenue management bill by Ghana\u2019s Parliament last month. That bill requires the publication of oil earnings in newspapers and establishes a savings fund to cushion the country against price shocks and establishes a public oversight committee.<\/p>\n\u2014Source: Bloomberg<\/strong><\/em><\/p>\n]]> \n http:\/\/www.dailyguideghana.com\/?feed=rss2&p=11857 0 http:\/\/www.dailyguideghana.com\/?p=11853 http:\/\/www.dailyguideghana.com\/?p=11853#comments Wed, 11 May 2011 09:03:02 +0000 Nicholas <\/p>\n http:\/\/www.dailyguideghana.com\/?p=11853 \nContinue reading \u2192<\/span>]]><\/p>\n<a href=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/david_mureithi.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-11854\" title=\"david_mureithi\" src=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/david_mureithi.jpg\" alt=\"\" width=\"300\" height=\"302\" \/><\/a><\/p>\nDavid Mureithi<\/p>\nUnilever Ghana Limited recorded strong results in 2010 after its revenue grew by 10.6 percent while operating profit inched up by 400 percent.<\/p>\nAccording to the 2010 financial performance, the consumer business recorded strong growth in major categories of home and personal care.<\/p>\nHowever, the food category delivered marginal growth following the refocusing of the portfolio.<\/p>\nThe growth of the consumer business was driven by the strengthening of the company\u2019s distribution network, strong partnership with distributors and increased marketing activities.<\/p>\nWith regard to the plantations, 2010 was good despite lower volumes recorded in the year.<\/p>\nOperating profit for the year was GH\u00a227.4 million as against GH\u00a25.5 million in 2009.<\/p>\nThe marginal gain was on account of improved product mix, stable exchange rate and savings initiatives undertaken by the business.<\/p>\nRestructuring expenses resulted in a cost of GH\u00a24.2 million in the year as against GH\u00a22.3 million in 2009.<\/p>\nAt the company\u2019s annual general meeting, David Mureithi, Managing Director of the company, said the company remains committed to creating long-term sustainable value for all shareholders.<\/p>\nThis, according to him, will be done through the promotion of its brands and strengthening of distribution network.<\/p>\n\u201cOur resolve to improve margins and profitability by reducing cost and improving operational efficiencies would be sustained.\u201d<\/p>\nIn line with the company\u2019s policy of consistent dividend payment in the past five years, a dividend payout of GH\u00a20.2871 per share, a 35 percent increase over the previous year was paid to all shareholders.<\/p>\nBy Charles Nixon Yeboah<\/em><\/strong><\/p>\n]]> \n http:\/\/www.dailyguideghana.com\/?feed=rss2&p=11853 0 http:\/\/www.dailyguideghana.com\/?p=11750 http:\/\/www.dailyguideghana.com\/?p=11750#comments Tue, 10 May 2011 09:52:01 +0000 Nicholas <\/p>\n http:\/\/www.dailyguideghana.com\/?p=11750 \nContinue reading \u2192<\/span>]]><\/p>\n<a href=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/unibank_guide.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-11751\" title=\"unibank_guide\" src=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/unibank_guide.jpg\" alt=\"\" width=\"300\" height=\"251\" \/><\/a><\/p>\nFortune Alimi (right) briefing Ammishaddai Owusu-Amoah (2nd right), Clifford Mettle (2nd left) and Richard Anane about how work goes on in the news room. PIX BY Gifty Lawson<\/p>\nuniBank Ghana Limited has boosted its relationship with Western Publications Limited to enhance the growth of the two entities.<\/p>\nThe Managing Director of the bank, Ammishaddai Owusu-Amoah led a team to visit the offices of Western Publications Limited, publishers of Daily Guide, Business Guide, NewsOne and Young Blazers Guide to cement the existing bond of partnership between the two organizations.<\/p>\nThey used the visit to inform management of Western Publications about the bank\u2019s forthcoming 10th Anniversary celebration, which according to industry watchers, is a \u201ccelebration of phenomenal growth.\u201d<\/p>\nWith only a branch about 10 years ago, the bank can now boast of 13 branches while its deposits grew by 67 per cent from GH\u00a2184.8 million in 2009 to GH\u00a2307.9 million in 2010 in spite of the existence of 44 non-bank financial institutions and 26 universal banks.<\/p>\nAt the same time, it equally created an appreciable portfolio of loans and advances amounting to GH\u00a2220.6 million in 2010, 99 per cent up from the 2009 figure of GH\u00a2110.8 million.<\/p>\nThe CEO, while tracing the journey of the bank so far, unfolded details of the impending celebration, an aspect of which is a medical outreach programme which is planned to benefit selected deprived areas.<\/p>\nDetermined not to rest on their oars, uniBank is set to do more in the banking industry, the CEO hinted. The Managing Director said he and his lieutenants were at Western Publications Limited to express gratitude for the support his outfit has received over the years.<\/p>\nThe first few years in the history of uniBank, he observed were devoted to setting up and developing appropriate softwares, adding that there are plans to establish more branches.<\/p>\nHe invited Daily Guide to join the bank in the journey into the future and promised uniBank\u2019s support for indigenous business.<\/p>\nAlready many small-scale businesses have tapped from the products of the bank to record appreciable growth within a short time of their establishment.<\/p>\nThe MD\/CEO lauded Daily Guide management for the growth the paper has recorded in the past few years and opened its doors for discussions on further business partnership between the two entities.<\/p>\nThe CEO was accompanied by Clifford Mettle, General Manager, Sales and Marketing and Richard Anane, Head of Coporate Affairs.<\/p>\nThe Business Development Manager, Western Publications Limited, Kwame Blay, spoke about the new face of Western Publications Limited, which currently encompasses a number of subsidiaries among them a printing inputs import company.<\/p>\nHe noted that the bank is an important client of Western Publications with many staff holding salary accounts with the financial institution.<\/p>\nThe Editor of Daily Guide, Fortune Alimi expressed his elation about the visit, the first by a top management of the bank to the newspaper house.<\/p>\nHe called for a deepening of the bond between the two establishments as he acknowledged the current uniBank advertisements being carried in the newspaper. The visitors later undertook a facility tour of the company.<\/p>\n\u2026Intensifies Mass Marketing Campaign<\/p>\nuniBank Ghana Limited last Friday continued its mass marketing campaign at Spintex and its environs in the Greater Accra region by selling the bank\u2019s products to numerous Ghanaians there.<\/p>\nThe campaign, initiated by the SME Department, will be extended to other branches.<\/p>\nIt is in line with the bank\u2019s strategy for growth and business development in 2011.<\/p>\nSome relationship managers of the bank offered advisory services and also educated potential customers about some of the bank\u2019s products including electronic products such as uni-alert and uni-mobile.<\/p>\nThey also took the opportunity to sell products such as trade logistics credit since the bank considers Small and Medium-scale Enterprises (SMEs) as its key target. Under the trade logistics credit, the bank will make available high speed trade logistic products to businesses<\/p>\nSamuel Sakyi-Hyde, Head of SME Banking said, \u201cThese campaigns are structured to ensure that the department achieves its target for the year as well as enlarges the bank\u2019s market share of the SME sector to give as a \u2018quantum leap\u2019 in resultant banking and transactional activities.\u201d<\/p>\nThe campaign has been designed to give relationship managers a valuable opportunity to interact with prospective clients within their working environment thereby taking uniBank\u2019s unique products and services to their doorsteps.<\/p>\nAll accounts won during the mass marketing campaign will be assigned to the branches where the campaign took place.<\/p>\nThe campaign is aimed at increasing the SME portfolios of the various branches to generate substantial increase in business activities at the branches.<\/p>\n\u201cSince the bank has the SME industry as one of its key banking target, these campaigns will increase the bank\u2019s recognition and exposure to businesses in the sector,\u201d Mr. Sakyi-Hyde added.<\/p>\nSeveral accounts were opened for new clients by the Relationship Managers and the Direct Sales Officers (DSOs).<\/p>\nSince its inception, uniBank has carved a niche for itself in the SME sector.<\/p>\nIts objective is to ensure the growth of SMEs into big entities that can improve the economy.<\/p>\nBy AR Gomda & Charles Nixon Yeboah<\/em><\/strong><\/p>\n]]> \n http:\/\/www.dailyguideghana.com\/?feed=rss2&p=11750 0 http:\/\/www.dailyguideghana.com\/?p=11747 http:\/\/www.dailyguideghana.com\/?p=11747#comments Tue, 10 May 2011 09:48:58 +0000 Nicholas <\/p>\n http:\/\/www.dailyguideghana.com\/?p=11747 \nContinue reading \u2192<\/span>]]><\/p>\n<a href=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/agric_fare.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-11748\" title=\"agric_fare\" src=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/agric_fare.jpg\" alt=\"\" width=\"300\" height=\"251\" \/><\/a>Government and private sector leaders have stated that\u00a0 with the right policies and investment approaches, the agricultural sector can help invigorate economic growth across Africa.<\/p>\nThey disclosed this at an event organized by the International Fund for Agricultural Development (IFAD) on the sidelines of the World Economic Forum on Africa 2011.<\/p>\nThe conference, \u201cNew challenges, new opportunities: African agriculture in the 21st century,\u201d was jointly held by the South African Institute for International Affairs (SAIIA) and featured the presentation of IFAD\u2019s Rural Poverty Report 2011.<\/p>\nTina Joemat-Pettersson, Minister of Agriculture, Forestry and Fisheries of the Republic of South Africa, in a keynote address, noted that well functioning agricultural markets are essential for rural growth and poverty reduction and that modern markets and value chains are bringing new opportunities for smallholder farmers on the continent. \u201cMost rural households are connected with markets, as sellers of produce, buyers of food, or both. However, the extent to which they are involved varies considerably,\u201d she said.<\/p>\n\u201cThe rapid emergence of supermarkets, for example, is spurring the establishment of modern value chains, particularly for high-value foodstuffs. This is not only a source of opportunities for smallholder farmers, but also a means of creating demand for labor and services from other rural people.\u201d<\/p>\nIFAD President, Kanayo F. Nwanze told the audience that while donor support will continue to be important, the continent itself will have to generate the changes that will lead to transformation.<\/p>\nCiting the Rural Poverty Report 2011, he called for national policies and investment approaches to support rural infrastructure development and greater private sector involvement in agriculture.<\/p>\n\u201cThe report shows that many poor people have the capacity and the desire to build better lives for themselves. What they lack is access, opportunity and infrastructure,\u201d he said. \u201cIt is time to stop treating them as charity cases and instead focus on helping them to grow their businesses \u2013 first to achieve food security and then to produce a surplus. By doing this we will allow them to break definitively out of poverty.\u201d<\/p>\nJumanne Abdallah Maghembe, Minister for Agriculture, Food Security and Co-operatives of Tanzania, emphasized the importance of creating a better environment for small farmers to develop their businesses.<\/p>\n\u201cThere is a dire need to invest in smallholders, particularly in creating rural infrastructure to support them as they develop their production capacity. By looking at the realities of regions and villages and tailoring solutions for them, we can transform lives,\u201d he said.<\/p>\nAt a spirited panel discussion moderated by BBC presenter Komla Dumor, panelists offered a range of views and ideas on how to improve the economic climate for agriculture and rural businesses.<\/p>\nThey also discussed how to help smallholder farmers to reduce the risks they face so that they can improve their operations and expand rural education for a more knowledge-intensive agriculture.<\/p>\n\u201cAgricultural production in Africa can be increased by a factor of 10 to 20,\u201d said Agnes Matilda Kalibata, Minister of Agriculture and Animal Resources of the Republic of Rwanda.<\/p>\n\u201cBut to do that we have to educate our banks about supporting smallholders, as well as equipping our rural youth with a better educational system and vocational training.\u201d<\/p>\nAkin Adesina, Vice President of the Alliance for a Green Revolution in Africa (AGRA), emphasized that making smallholder agriculture more profitable is the best way to lift rural people out of poverty and to ensure food security. \u201cWe need to focus on value chains with the goal of getting our young people to see agriculture as a good business for them to be in,\u201d he said.<\/p>\n\u201cAfrica must start using its own resources to make this happen by connecting banks and micro-finance institutions with farmers themselves.\u201d<\/p>\n]]> \n http:\/\/www.dailyguideghana.com\/?feed=rss2&p=11747 0 http:\/\/www.dailyguideghana.com\/?p=11744 http:\/\/www.dailyguideghana.com\/?p=11744#comments Tue, 10 May 2011 09:45:31 +0000 Nicholas <\/p>\n http:\/\/www.dailyguideghana.com\/?p=11744 \nContinue reading \u2192<\/span>]]><\/p>\n<a href=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/paa_kwesi_amissah_arthur.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-11745\" title=\"paa_kwesi_amissah_arthur\" src=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/paa_kwesi_amissah_arthur.jpg\" alt=\"\" width=\"300\" height=\"266\" \/><\/a><\/p>\nPaa Kwesi Amissah Arthur – Governor of BoG<\/p>\nThe former Director of the Economic and Organized Crime Office (EOCO), Alhaji Mohammed Abdullah, has described some banks in the country as \u2018key associates\u2019 who fuel the activities of internet fraudsters.<\/p>\nAlhaji Abdullah stated that some banks connive with the fraudsters in duping foreign investors of millions of US dollars every year, as fraudsters always withdraw money from the banks with ease.<\/p>\nAccording to him, research has established that banks in Ghana get the lion\u2019s share of the booty from the activities of the internet fraudsters.<\/p>\nThe former EOCO boss made the observation at a gathering of some stakeholders in Sunyani.<\/p>\nThe meeting was part of activities marking the 11th Annual National Constitution Week Celebration on the theme, \u201cThe State of Ghana\u2019s Democracy\u201d with corruption as the sub-topic. Alhaji Abdullah said the trend is increasingly becoming an avenue for banks to boost their financial assets, survive in a competitive banking industry, as well as meet the Bank of Ghana\u2019s minimum capital requirement.<\/p>\nHe therefore called on the Central Bank to uncompromisingly scrutinize the dealings of banks to arrest the canker in order to redeem the image of Ghana internationally.<\/p>\nOn political parties\u2019 primaries, he said the level of vote buying by some candidates shows how some Ghanaian politicians are engaged in corruption.<\/p>\nAlhaji Abdullah therefore stressed the need for the phenomenon of vote buying to be discouraged at that level so as to elect credible leaders to manage the affairs of the country.<\/p>\nTouching on local governance, he stated that investigations have also shown that MMDAs are in the league of corrupt institutions in the country.<\/p>\nAccording to Alhaji Abdullah, misappropriation of funds at the Assemblies was seriously affecting development at the local level.<\/p>\nFor her part, the Deputy Chairman of the National Commission on Civic Education (NCCE), Augustina Akosua Akumanyi, raised concerns over how some media practitioners openly declare their political affiliation.<\/p>\nMrs. Akosua Akumanyi was of the view that the practice impacts on journalists sense of neutrality in the fight against corruption.<\/p>\nFrom Vivianna Mensah, Sunyani<\/em><\/strong><\/p>\n]]> \n http:\/\/www.dailyguideghana.com\/?feed=rss2&p=11744 1\n<\/p><\/div>\n<\/p>\nMore: \n<a target=\"_blank\" href=\"http:\/\/www.dailyguideghana.com\/?feed=rss2&cat=19\" title=\"Daily Guide Newspaper \u00bb Business\" rel=\"noopener noreferrer\">Daily Guide Newspaper \u00bb Business<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Daily Guide Newspaper \u00bb Business Newmont Expects Increase In Gold Production Vodafone Launches Webbox Barclays To Pay \u00a31bn Compensation Ghana Fights Deforestation MTN Subscriber Base 147.2m Ghana Lacks Safeguards For Regulating Oil Industry Unilever Posts Strong Results uniBank, Western Publications Deepen Relationship Agric Key To Africa\u2019s Growth \u2018Banks Influence Internet Fraudsters\u2019 http:\/\/www.dailyguideghana.com GHANA’S LATEST AND LEADING NEWS NEWSPAPER, PROVIDING DAILY NEWS COVERAGE OF GHANA Wed, 11 May 2011 10:00:08 +0000 en hourly 1 http:\/\/wordpress.org\/?v=3.1.2 http:\/\/www.dailyguideghana.com\/?p=11871 http:\/\/www.dailyguideghana.com\/?p=11871#comments Wed, 11 May 2011 09:17:00 +0000 Nicholas http:\/\/www.dailyguideghana.com\/?p=11871 Continue reading \u2192 ]]> Gold bar Newmont Ghana Gold Limited expects an increase in its annual gold production at the Ahafo mine if new explorations being undertaken yield positive results. Currently, the yearly production at the mine is pegged at between 500,000 and 550,000 ounces of gold from four operational pits at Apensu, Subika, Awonsu and Amoma. Kojo Bedu-Addo, External Affairs Manager, said the company embarked on further exploration activities in Ahafo North and that the positive outcome from the field was expected to shore up production once it came on stream<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-421388","post","type-post","status-publish","format-standard"],"yoast_head":"\n<title>Daily Guide Newspaper \u00bb Business - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/05\/11\/daily-guide-newspaper-business-2\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Daily Guide Newspaper \u00bb Business - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Daily Guide Newspaper \u00bb Business Newmont Expects Increase In Gold Production Vodafone Launches Webbox Barclays To Pay \u00a31bn Compensation Ghana Fights Deforestation MTN Subscriber Base 147.2m Ghana Lacks Safeguards For Regulating Oil Industry Unilever Posts Strong Results uniBank, Western Publications Deepen Relationship Agric Key To Africa\u2019s Growth \u2018Banks Influence Internet Fraudsters\u2019 http:\/\/www.dailyguideghana.com GHANA'S LATEST AND LEADING NEWS NEWSPAPER, PROVIDING DAILY NEWS COVERAGE OF GHANA Wed, 11 May 2011 10:00:08 +0000 en hourly 1 http:\/\/wordpress.org\/?v=3.1.2 http:\/\/www.dailyguideghana.com\/?p=11871 http:\/\/www.dailyguideghana.com\/?p=11871#comments Wed, 11 May 2011 09:17:00 +0000 Nicholas http:\/\/www.dailyguideghana.com\/?p=11871 Continue reading \u2192 ]]> Gold bar Newmont Ghana Gold Limited expects an increase in its annual gold production at the Ahafo mine if new explorations being undertaken yield positive results. Currently, the yearly production at the mine is pegged at between 500,000 and 550,000 ounces of gold from four operational pits at Apensu, Subika, Awonsu and Amoma. Kojo Bedu-Addo, External Affairs Manager, said the company embarked on further exploration activities in Ahafo North and that the positive outcome from the field was expected to shore up production once it came on stream\" \/>\n<meta name=\"twitter:image\" content=\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/gold_bar.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"49 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/05\/11\/daily-guide-newspaper-business-2\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/05\/11\/daily-guide-newspaper-business-2\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Daily Guide Newspaper \u00bb Business\",\"datePublished\":\"2011-05-11T10:07:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/05\/11\/daily-guide-newspaper-business-2\/\"},\"wordCount\":9741,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/05\/11\/daily-guide-newspaper-business-2\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/gold_bar.jpg\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/05\/11\/daily-guide-newspaper-business-2\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/05\/11\/daily-guide-newspaper-business-2\/\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/05\/11\/daily-guide-newspaper-business-2\/\",\"name\":\"Daily Guide Newspaper \u00bb Business - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/05\/11\/daily-guide-newspaper-business-2\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/05\/11\/daily-guide-newspaper-business-2\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/gold_bar.jpg\",\"datePublished\":\"2011-05-11T10:07:32+00:00\",\"author\":{\"@id\":\"\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/05\/11\/daily-guide-newspaper-business-2\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/05\/11\/daily-guide-newspaper-business-2\/#primaryimage\",\"url\":\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/gold_bar.jpg\",\"contentUrl\":\"http:\/\/www.dailyguideghana.com\/wp-content\/uploads\/2011\/05\/gold_bar.jpg\"},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/#website\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.ghanamma.com\/2011\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n","yoast_head_json":{"title":"Daily Guide Newspaper \u00bb Business - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2011\/05\/11\/daily-guide-newspaper-business-2\/","twitter_card":"summary_large_image","twitter_title":"Daily Guide Newspaper \u00bb Business - Ghanamma.com","twitter_description":"Daily Guide Newspaper \u00bb Business Newmont Expects Increase In Gold Production Vodafone Launches Webbox Barclays To Pay \u00a31bn Compensation Ghana Fights Deforestation MTN Subscriber Base 147.2m Ghana Lacks Safeguards For Regulating Oil Industry Unilever Posts Strong Results uniBank, Western Publications Deepen Relationship Agric Key To Africa\u2019s Growth \u2018Banks Influence Internet Fraudsters\u2019 http:\/\/www.dailyguideghana.com GHANA'S LATEST AND LEADING NEWS NEWSPAPER, PROVIDING DAILY NEWS COVERAGE OF GHANA Wed, 11 May 2011 10:00:08 +0000 en hourly 1 http:\/\/wordpress.org\/?v=3.1.2 http:\/\/www.dailyguideghana.com\/?p=11871 http:\/\/www.dailyguideghana.com\/?p=11871#comments Wed, 11 May 2011 09:17:00 +0000 Nicholas http:\/\/www.dailyguideghana.com\/?p=11871 Continue reading \u2192 ]]> Gold bar Newmont Ghana Gold Limited expects an increase in its annual gold production at the Ahafo mine if new explorations being undertaken yield positive results. Currently, the yearly production at the mine is pegged at between 500,000 and 550,000 ounces of gold from four operational pits at Apensu, Subika, Awonsu and Amoma. 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