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Ghana.Combusiness Monday 16 Sunday 22 November 2015 * VOL Sponsored by INTEREST rateS TREASURY SECURITIES RATE Money & CURRENCY MARKETS 13/11/-2015 Daily Interbank FX Rates Date: 13/11/2015 Percentage 91 Day Bill 24.0543% 13/11/2015 Buy Sell Inflation Rate Oct... 2015 17.4% 182 Day Bill 25.8504% £(Pound Sterling) Gh¢ 5.7663 Gh¢5.7736 1 Year Note 23.0000% US$ (Dollars) Gh¢ 3.7904 Gh¢ 3.7942 2 Year Fixed Rate Note 23.0000% BoG Policy Rate Sept. 2015 25.00 € (Euro) Gh¢ 4.0754 Gh¢ 4.0783 www.businessdayghana.comBUSINESS Monday 16 Sunday 22 November 2015 * VOL. 2, * NO.81 GH¢ 2 GHANADAY “We’ll not spend beyond the budget”—Terkper warns inance Minister Mr. yond what have been budgeted in parliament last Friday, Mr. “the Electoral Commission and Seth Terkper has reiter- for in 2016 to halt the habit of Terkper emphasized “We will other governance institutions ated that government incurring huge debts after elec- resist the temptation of elec- will be adequately resourced will avoid any move tion years. tion year overspending”. Fthat may result in spending be- Presenting the 2016 budget He, however, added that Continues on page 5 Mr. Seth Terkper, Finance Minister “Over 80,000 jobs ignored” Stories by LAWRENCE SEGBEFIA that Ghana could solve two Mr Danyansah, who is also major economic challenges— aspiring to be a Member of unemployment and housing Parliament for Obuasi East hana’s unem- deficit by injecting the needed warned that the country risks ployment chal- capital required for the housing a housing crisis in the next “ lenges could be industry to make it lucrative. three years if policymakers solved substan- He expressed concerns over fail to clearly outline measures tially by paying the growing unemployment towards averting the situation. attentionG to the housing indus- level among the youth, whose “There is inevitable need for try, which has a value chain energy and competencies he managers of the economy to that can provide meaningful suggested could be directed at start from the urban centres” jobs for over 80,000 unem- the industry to yield optimum he said, where the demand for ployed youth”, The Chief Ex- result. housing is fast outstripping its ecutive Officer of Danywise “Ghana has a housing short- supply at a rate of 17.5 per cent Estate and Construction, Mr. fall of 1.7 million units and this annually. Frank Aboagye Danyansah has is expected to escalate by 2018, “If government does not disclosed to the Business Day. the youth unemployment is support the private sector, it Speaking to the Business also surging; we can engage will be difficult for us to put up Day ahead of a major project to this young and active youth Mr. Frank Aboagye Danyansah, Chief Executive Officer of be undertaken by the company, into the housing industry”, he Danywise Estate and Construction, Mr. Danyansah maintained stressed. Continues on page 5 2 * BusinessDay - Monday 16 Sunday 22 November 2015 BusinessDay -Monday 16 Sunday 22 November 2015 National News 3 Ghana’s GDP reducing due to environmental ECOWAS officials degradation meet over Sahel report from the World Bank indicates that he technical secretariat Ghana is losing close to and coordination plat- 12 per cent of its Gross form of the ECOWAS ADomestic Product (GDP) due Sahel strategy are cur- Trently meeting in Abuja, Nigeria to environmental degradation. This, according to Dr Elias to strengthen synergy of action Ayuk, Director, United Nations and review the implementation University - Institute for Natu- process of the strategy. ral Resources in Africa (UNU- The Sahel strategy aims among INRA) Accra, was due to rapid others, to consolidate regional degradation of both renewable responses to long-term develop- and non-renewable natural ment and stability challenges of resources. Sahel-Saharan zone while pro- Speaking during the opening moting strong political dialogue of the a three day international with both North and Central conference on green economy Africa. in Accra, Dr Ayuk said environ- According to a statement is- mental degradation coupled sued by the Commission, during with climate change was put- the two-day meeting, the officials ting immense pressure on the would identify group leaders of the African Union applauds Ghana five thematic groups-Infrastruc- natural resource base of the countries of the world especially ture, Resilience & Food Security, Education, Advocacy & Research Africa. delegation from the Consolidated People’s Party. context of changes in the interna- Our interest in pursuing of synergy as well as Monitoring & African Union (AU) Mr Yaw Adu-Boahene, a Senior tional community. Evaluation. research and capacity building currently visiting Gha- Technical Adviser of the Union He said: “The proposed long- in the area of green economy The convergence would also na has applauded the and leader of the delegation noted term national development plan provide the opportunity to clarify has been informed by the fact National Development that the participation of Ghana’s will have a chapter devoted solely that environmental degradation the mandate, mission, institu- APlanning Commission (NDPC) for political parties in the prepara- to Ghana’s position in the global tional structure and operating coupled with climate change its inclusive approach to preparing tion of the plan would help ensure geo-political economy – how it procedures of the Technical Sec- were putting immense pres- a long-term national development continuity and sustainability in affects Ghana and how Ghana can sures on the natural resource retariat of the Platform with the for Ghana. national development across dif- affect it for itself and for Africa. objective of informing members base of the world, he said. The purpose for the visit of the ferent governments. “National development is not The conference dubbed of the Technical Secretariat and delegation is to discuss strategies “This is something other Af- only about what happens within the coordination platform on the “Greening industries and green for domesticating the first 10 years rican countries can learn from our borders but also what happens entrepreneurship promotion preferred implementation prog- of the AU’s 50-year transformation Ghana,” he said. The statement beyond them. We must anticipate ress of the strategy. as a driver of sustainable and agenda, known as Agenda 2063, noted that a delegation from global developments (both eco- inclusive growth in rural Africa” The officials would also be -dis into Ghana’s long-term national Sierra Leone had already visited nomic and political) and prepare cussing the financing modalities of attracted researchers, policy- development plan. the Commission to learn from its for them rather than waiting for makers, civil society organisa- the Action Plan through financing A statement issued in Accra planning experience in a demo- them to happen and then react as instruments, including the Euro- tions among others from all over by Mr David Owusu-Amoah, the cratic environment. we have been doing for decades. Africa to deliberate on issues pean Union Regional Indicative Public Relations Officer of the The delegation is expected to The Director General also ex- Programme and Trust Fund as pertaining to green economy on Commission disclosed that the meet with other government offi- pressed displeasure at the practice the continent. well as to gather comments from delegation made the commenda- cials in preparation for a technical where African governments con- members of the platform on ways He noted that while the Af- tion during a courtesy call on the meeting on Agenda 2063 in Accra gregate in other countries at the rican continent could boost to improve the synergy between Director General of the NDPC, Dr on November 5. behest of leaders of those countries the various initiatives being car- of some of the fastest growing Nii Moi Thompson, at his office According to Mr Adu-Boahene, – such as the India-Africa Summit economies in the world during ried out in the Sahelo-Saharan in Accra. Agenda 2063 should be seen as a and the China-Africa Summit. zone. the last decade, the growth had The Commission is currently unique opportunity to transform He said: “If we want to be not been balanced since pov- The ECOWAS Commission has working with six major political Africa within the next 50 years. respected in world affairs, we developed, in collaboration with erty remained a problem with parties to develop a long-term “The Agenda is expected to be must first respect ourselves-we inequalities also increasing. the West African Monetary Union national development plan that a continental source of inspiration shouldn’t allow ourselves to be Commission and the Permanent These, he said, had been would be binding on successive for the development of national used as shoulder pads by others to accompanied by numerous Interstates Committee for Drought governments yet flexible enough and regional development plans,” project their power on the global Control in the Sahel, a Sahel Strat- environmental problems such to allow political parties to imple- he said. Other members of the del- stage. We must begin to project as air and water pollution, de- egy Document with an Action Plan ment their manifestos towards the egation were: Ms Tsilat Getachew, our own power, and that starts composed of 31 priority projects forestation, desertification, loss achievement of a common nation- a Development Planning Expert; from looking within and believing of biodiversity and so on. estimated at 4.75 billion dollars. al development vision specified in Mr Tichawa Shumba, a Senior in ourselves.” The implementation of the ac- He called on both the public the long-term plan. Policy Officer; and Dr Robert Dr Thompson indicated that and private sectors in Africa to tion plan is scheduled for the pe- The parties are: The Progres- Afriyie, Deputy Head of Mission Africa has a higher per capita in- riod of 2016-2020, and supported work together by making signifi- sive People’s Party; the National at the Ghana Embassy in Addis come than India and an untapped cant investment in the transi- by a Coordination Platform com- Democratic Congress; the New Ababa, Ethiopia.
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