Ghana seeks 1.2 billion dollars Chinese support for strategic projects

Ghana is seeking 1.2 billion dollars Chinese development support towards the implementation of a number of strategic projects to help speed up the pace of the country's economic progress, Mr Andrew Awuni, Press Secretary to the President, said on Friday.

The projects include the Bui Dam, construction of a backbone for the telecommunication network and rural electrification. China has already advanced 50 million dollars for the telecommunication backbone project.

Mr Awuni told a press briefing that Ghana had presented the Chinese authorities with the project proposals and that these would come up for discussion during the China-Africa Heads of State Summit to be held in Beijing from November 3-5.

President John Agyekum Kufuor would join about 48 other African leaders at the Summit at which China would present its programme for investment and financial support to Africa for the next five years and the specific areas it would be ready to give support.

The meeting would also discuss international politics, trade, economic and cultural development. Mr Awuni said from China, President Kufuor would attend the first ever Korea-Africa summit to be hosted by President Roh Moo-Hyun from November 7-9.

He said Ghana and Korea would engage in bilateral talks on greater economic co-operation and trade. President Kufuor would meet the United Nations Secretary-General-designate, Mr Ban Ki-Moon.

Mr Awuni said the two countries would consider co-operation on the expansion and divestiture of the Tema Oil Refinery and the building of new thermal plant to generate more energy.

President Kufuor would also pay a two-day working visit to Japan to confer with Prime Minister Shinzo Abe and meet with Ms Sadoko Ogata, President of JICA, as well as the presidents of Japan External Trade Organisation and Japan Chocolate and Cocoa Associations.GNA

President Kufuor inaugurates a bus for Central Regional Coordinating Council

President John Agyekum Kufuor, on Saturday inaugurated a 33-seater bus valued at 632 million cedis, for the Central Regional Coordinating Council (CRCC) in Cape Coast.

He commended the council for the foresight and urged them to ensure that it was maintained regularly to prolong its life span.

President Kufuor called on other regional coordinating councils to emulate their example.

The bus purchased with funds from the District Assemblies Common Fund would be used to monitor projects being undertaken in the region under the fund.

It would also be used as a staff bus to ensure punctuality at work. Nana Ato Arthur Central Regional Minister, briefing newsmen later said it was purchased to reduce fuel consumption by the monitoring team that used more than six vehicles for their operations.

“With the bus it would be more convenient and easier for the team to operate efficiently and effectively,” he added. Nana Arthur pledged to ensure the bus was well maintained.

In another development, President Kufuor joined mourners at the burial and final funeral rites of Madam Monica Woode, mother of Nana Kodwo Conduah VI, Omanhene of Edina Traditional Area at Elmina.

He later paid a courtesy call on Nana Conduah at his palace. Nana Conduah expressed appreciation to President Kufuor and his entourage for mourning with the bereaved family saying “ This is an honour for me, my late mother and the family.”

Madam Woode, alias Auntie Ama Gyefuaw 65, died on Monday July 31, at the Central Regional Hospital after a short illness. She left behind five children, 10 grandchildren and 15 great grand children.

Military High Command cautions Rawlings

Ghana’s Military High Command on Friday said the Ghana Armed Forces would continue to be loyal to the state and government of the day as the case was during the rule of former President Rawlings, a statement from the Military High Command said on Friday.

"We have no other option than to team up with other security services to protect the integrity and stability of our dear nation as well as the democratic dispensation being enjoyed by all Ghanaians, irrespective of their political affiliations, ethnicity and religious beliefs".


The statement was in response to a press conference the former President held on Thursday in Accra when he reacted to certain allegations President John Kufour made against him at a rally at Offinso in the Asahanti Region.


It said the High Command had noted the comments the former President made that, “he expects the Commanders to go to the Minister and tell him that his policies or other directives are not favourable to the military and cannot work hence he should change them” or words to that effect.


The statement signed by Colonel E. W. K. Nibo, Director of Public relations, Armed Forces said, “The Ghana Armed Forces would like to appeal to the former President to stop drawing it into the political utterances that appears to be the order of the day anytime he has a bone to pick with the government.


“He should allow the military to do its work as enshrined in the constitution of our dear country just as it did for him in the past". The statement expressed concern that, "such statements coming from him as a former Commander-in-Chief tend to undermine the Command, discipline, esprit de corps, teamwork and professionalism of the Armed Forces, which do not augur well for peace and stability of the country."


In as much as the former President is entitled to his opinion, the Military High Command finds it unfortunate that as a former Commander-in-Chief of the Armed Forces, such comments should be coming from him, since he is very familiar with the code of conduct of the military".


The High Command of the Armed Forces “respects him as its former Commander in Chief and would therefore expect his comments about the military to be circumspect by urging the military to continue to do the good work it has been doing rather than subjecting it to public ridicule, contempt and embarrassment", the statement said.
GNA

Total Petroleum Ghana and Total Ghana Limited merge

Shareholders of Total Petroleum Ghana Limited (formerly Mobil Oil Ghana Ltd) and Total Ghana Limited at separate meetings on Friday approved the merger of the two companies, Mr. Felix Majekodunmi, Managing Director of Petroleum Ghana Limited announced on Friday in Accra.


Mr Majekodunmi told a press conference that as part of the merger agreement, Total Ghana Limited would be put into members’ voluntary liquidation and the whole of its undertaking and assets will be transferred to Total Petroleum Ghana Limited.


Total Petroleum Ghana Limited would thus issue new shares to the shareholders of Total Ghana Limited in line with the rights of the shareholders in the liquidation. Mr Majekodunmi said the merged company’s name will be Total Petroleum Ghana Limited and would remain quoted on the Ghana Stock Exchange. The merged company will occupy a leadership position in Ghana with an estimated market share of 28 per cent and a network of 225 service stations across the country.


“Synergies derived from rationalization of depots administrative and marketing operations will increase efficiency, reduce operating cost, consequently increasing profitability and shareholder value,” Mr Majekodunmi said.
He stressed that the benefits of the synergies would enable Total Petroleum Ghana Limited to competitively satisfy the ever challenging and increasing needs of its customers whilst putting safety first at all times. Touching on redundancies as result of the merger, Mr Majekodunmi said 46 employees had been affected because of the rationalization of assets and operations of the two companies.


Management and representatives of staff of both companies, he said, had amicably negotiated redundancy packages of the affected employees, a package which had received the approval of the Labour Department of the Ministry of Manpower, Youth and Employment for implementation. Mr Majekodunmi reiterated Total Petroleum Ghana Limited commitment to providing quality products, reliable and efficient service to its customers.


Besides, he said, the merged company would continue to be alive to its corporate social responsibilities while contributing positively to the economic growth of the country. Mr Majekodunmi was upbeat about the performance of the shares of the new company, saying once the results of the synergies began to manifest it would push share prices up. Total occupies a strong position in Africa with downstream operations in over 58 countries with about 3,800 branded service stations and shares in seven refineries.
GNA