Friday, 12th August, 2022
Page 10Mr AlbertoCalderon, theGlobal ChiefExecutive Officerof AngloGoldAshanti Ltd, Wednesday saidthe company had invested morethan one billion dollars in Ghanaover the past few years.He said 86 per cent of theinvestments were retained withThe Ashanti RegionalCustoms Division ofthe Ghana RevenueAuthority (GRA)generated a total ofGH184.5 million as revenue atthe end of July 2022.The amount is out of the totaltarget of GH383,913,600.00 forthis year.Mr. Edmund AugustineOmari, Ashanti Regional SectorCommander said the collectionwas behind the target of theregion by 50.1 per cent.He explained this was dueto the inability of the taxpayersto rake in enough incomebecause of the current economicsituation in the country.“The Bulk Oil Storage andTransportation Co Ltd (BOST)our major taxpayer, is notmaking enough,” he explained,and assured management ofworking hard to meet the targetbefore the year ends.Mr Omari, who was speakingat the opening of the 2022Customs Division ManagementRetreat in Kumasi, spoke of lackof logistics and personnel asfactors impeding collection ofrevenues.The five-day meetingis being held on the theme“Simplification of CustomsProcedures in Achieving 2022Revenue Target”.The meeting will amongother things discuss the GRArisk management structure,simplification of bonds andtreaties, overview of terrorismBusinessAngloGold made overone billion dollarsinvestments in Ghanaregistered partner Ghanaiancompanies, while 98 per centof its 4,000 employees wereGhanaians.President Nana Addo DankwaAkufo-Addo, in 2019, re-openedAngloGold’s Obuasi Mine withan initial investment of US$881million after its shutdown in2014.The revamping of the ObuasiGRA-Kumasigenerates GH184.5Mas revenue in Julyin Africa and its effects ontrade (roles and challenges ofthe Customs Division), tradeagreement and its effects onrevenue and the role of postclearance audit in revenuemobilization.The Sector Commanderoutlining the functions of theKumasi collection said theyensure that goods that entered,exited or transited theiroperational areas went throughright customs procedures andprocesses.They also performed directexport, temporal export,voluntary import compliance,free zones and petroleumfunctions.Mr. Omari hinted thatplans were far advanced to setup a checkpoint on the Ejura-Kumasi Road, where intelligencegathered confirmed that it hadbecome a major smuggling routein the Ashanti Region.He, however assured thatthe other existing checkpointslocated at Kubease, Ahenkro,Mankranso, and Mpasatia inthe region would continue toperform their duties effectively.He mentioned that thecheckpoint at Anwiankwantaon the Kumasi-Obuasi roadwhich linked to the Central andWestern Regions needed to berelocated.This was due to the ongoingroad construction whichhad affected their day-to-dayactivities on the stretch.DAILY ANALYST Friday, 12th August, 2022Mine has created employmentfor the indigenes and boostedthe local economy.Mr Calderon announced thiswhen he paid a courtesy callon Mr George Mireku Duker, aDeputy Minister of Lands andNatural Resources in charge ofMines, in Accra, ahead of hismeeting with President Akufo-Addo at the Jubilee House.He said the Mine wouldcontinue to invest in itsshareholders and localcommunities hosting itsoperations to make a differencein the lives of the people.“We invest in many countriesin the world, from Australia,Americas to Africa and I’ve beento many places, and I can saywith certainty that the countryThe Ghana Union ofTraders Association(GUTA) is cautioningthat Ghanaiansmay buy Christmasgoods at much higher prices inDecember this year.Goods, including food itemslike cooking oil, rice, sugar,second-hand clothing, andfrozen foods, as well as nonfooditems such as Christmastrees, ribbons, and balloons fordecorations are mostly importedby members of GUTA.Dr Joseph Obeng, Presidentof the Association, told theGhana News Agency that if theGovernment did not addressthe depreciation of the Cediimmediately, Ghanaians wouldbuy their Christmas goods atexpensive prices.He said: “We would have tobring as much goods as we can,but to tell the truth, our capitalitself has dwindled. It means itwill also affect the volumes oftrade that we do, especially inthe last quarter of the year if thetrend continues.”“When exchange rate goesup, inflation goes up, interestrate and all the indicators oftrading go up, it will definitelyaffect the final pricing then itwill affect the final consumerwho already is suffering,” heemphasised.Dr Obeng noted that theworking capital of manymembers of GUTA, the country’sumbrella body of traders(importers and exporters),continued to deplete due to thedepreciation of the Cedi againstthe Dollar amid high interestrates on loans.The President said that:“It could be recalled that sinceDecember 2021 when the dollarwas GHS6.4, our working capitalthat welcomes us the most andgives us support is Ghana,” MrCalderon stated.Mr Duker, on his part,gave the assurance that theGovernment would continue tocreate an enabling environmentfor the large-scale miningcompanies to thrive and ensurea win-win situation.He said government’sdealing with the large-scalemining companies would behas been depleted by 40 percent. Now that the dollar hasreached GHS9, our worst fear isthat we are now going to makeChristmas orders from oursuppliers, which may aggravatethe situation.”He said that the importbusiness had become“gloomy and pathetic” as themultinationals have taken over,and their efforts to start lookingfor goods to export to supportthe economy had not yielded theexpected result.He, therefore, called onthe Government to amendthe country’s investmentlaw on foreign retail tradeand wholesale to make themultinationals deposit theircapital fund in Ghana fortransfers.“We believe that thegovernment should have fullcontrol of management of ournational resources as well as thecapability to solve this problemin the shortest possible time,” DrObeng, said.anchored on transparency andaccountability by providing thenecessary information to them.He said AngloGold Ghanaremained an integral part of thegovernment’s mining drive andwould continue to support it.“The leadership of yourmen here are doing so well andthey have shown quality andcompetence in the company’soperations,” Mr Duker said.GUTA cautions public of increasein prices of goods at ChristmasInflationary pressures andother factors have compoundedthe economic hardship inGhana whose economy was oncedescribed by the InternationalMonetary Fund (IMF) as thefastest growing economy in sub-Saharan Africa.This has made theGovernment to initiatediscussions with the IMF tosupport Ghana’s homegrowneconomic programme to restoremacroeconomic stability, anchordebt sustainability, and promoteinclusive and sustainablegrowth.Meanwhile, the PresidentNana Addo Dankwa Akufo-Addohad said that the Governmentwas determined to work hard toturn the economy around.The President said that withthe measures put in place by theGovernment: “I am confidentthat we will revive and revitalisethe economy and put ournation back on the path of rapideconomic growth.”
DAILY ANALYSTFriday, 12th August, 2022 Page 11Caf President PatriceMotsepe has statedthat they are goingto listen to divergentviews regarding theAfrica Super League.Motsepe launched the SuperLeague on Wednesday in Arusha,Tanzania, at Caf’s 44th generalassembly.Although the African footballadministrator has confidence inthe new competition, opposingvoices have been raised, and oneof the opponents is the SouthAfrican Football Players Union(Safpu), which termed it anill-conceived and unworkableidea."Part of our job is to engageand to consult with all stakeholders,”Motsepe told BBCAfrica Sport.“And sometimes it's moreimportant to listen to those whohave got different views and alsothose who disagree with you."I think some of them feelthat we haven't spoken to them.We couldn't have spoken to everybody.It's impossible. We willengage with all of them."Motsepe has always stressedthat the Super League is an avenueto source more funds for theAfrican football competitions."I want to be in a situationwhere there's competitionamong all the leagues, and Iwant the Champions League toeven get more prize money, andto be competitive," he added.Motsepe:Impossible to talkto everyone aboutSuper League"My objective is to get moneyfor football infrastructure, forplayers, club owners, stakeholders.We are talking about anythingbetween $250m to $300mevery year," Motsepe explained."If you look at the numbers,we are talking about $2.5m foreach of the 24 clubs to use, tohelp with transport and accommodationbut also to buyplayers."On her part, Simba’s chiefexecutive officer, Barbara Gonzalez,highlighted what she thinksare the benefits of the inauguraltournament."This is going to change theface of African football as weknow it in terms of investment,exposure, and marketing overall,"Gonzalez said."As one of the leading footballclubs in the region, we'reextremely excited about this."Fifa President Giani Infantino,who was present duringthe Super League launch, addedhis voice on the idea that hasattracted divergent views acrossthe continent."Well, first of all, the AfricanSuper League is a completelydifferent proposition than whatwas proposed in Europe, whichwas a kind of a breakaway thingoutside of the structures," Infantinoexplained."This is done within thestructure within Caf, withinFifa, within the football pyramidstructure."Former Accra Hearts ofOak striker, Kofi Kordzihas said that he willunder circumstancereturn to the club afterhe was "humiliated" in thepublic space.Accra Hearts of Oak describedKofi Kordzi and five other playersas surplus to requirement whenthey announced their decisionto release them.Despite his release from theclub, Accra Hearts of Oak areyet to give him his letter as hewas told that some clubs haveexpressed interest in him so willnot make him leave for free.Asked if he would return tothe club, Kofi Kordzi told SaddickAdams that there is no amountof money that will compel himto wear the Phobian jersey againbecause of how he was treated.“Football is played with theheart but before God and maneven if Hearts of Oak give mebillions of dollars I can’t be ableto play for them again,” Kordzitold Accra-based Angel FM.Kofi Kordzi scored 7 goals inthe 2021/2022 Ghana PremierLeague for the Phobians.BBC broadcaster, JohnBennett has said newBlack Stars player,Tariq Lamptey willmake significantimpact for the Black Stars at the2022 World Cup.The Brighton and HoveSportsI will never wear the PhobianTariq Lamptey will makeWorld Cup - BBC journalistAlbion defender is set to play forthe Black Stars at the 2022 FIFAWorld Cup after completing hisnationality switch in June 2022.Speaking with Gold TalkSport,Bennett said he cannot wait towatch the British-born Ghanaianin Ghana colours.“I can’t wait to see him [TariqLamptey] in the Black Stars shirtahead of the [FIFA] World Cup,"he said.“I think he can really make adifference down the right-handside for Ghana,” he added.Following Ghana'squalification for the 2022 FIFAWorld Cup, five players switchednationalities to play for the BlackStars.The players include InakiWilliams, Tariq Lamptey, StephanAmbrosius, Ransford Yeboah, andPatric Pfeiffer.Mohammed Salisu, who hadrequested more time to settle inat Southampton, has also agreedto play for Ghana.The aforementioned playerswill be available during the nextinternational break in September2022.The 2022 FIFA World Cup willcommence on Monday, November21 and end on Sunday, December18, 2022.Ghana are in World CupGroup H with Uruguay, Portugal,and South Korea.The Black Stars will begintheir World Cup campaignagainst Portugal on November24, followed by South Korea onNovember 28.They will wrap up their groupstage games against Uruguayon December 2 at the Al JanoubStadium in Al Wakra.
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Page 10
Mr Alberto
Calderon, the
Global Chief
Executive Officer
of AngloGold
Ashanti Ltd, Wednesday said
the company had invested more
than one billion dollars in Ghana
over the past few years.
He said 86 per cent of the
investments were retained with
The Ashanti Regional
Customs Division of
the Ghana Revenue
Authority (GRA)
generated a total of
GH184.5 million as revenue at
the end of July 2022.
The amount is out of the total
target of GH383,913,600.00 for
this year.
Mr. Edmund Augustine
Omari, Ashanti Regional Sector
Commander said the collection
was behind the target of the
region by 50.1 per cent.
He explained this was due
to the inability of the taxpayers
to rake in enough income
because of the current economic
situation in the country.
“The Bulk Oil Storage and
Transportation Co Ltd (BOST)
our major taxpayer, is not
making enough,” he explained,
and assured management of
working hard to meet the target
before the year ends.
Mr Omari, who was speaking
at the opening of the 2022
Customs Division Management
Retreat in Kumasi, spoke of lack
of logistics and personnel as
factors impeding collection of
revenues.
The five-day meeting
is being held on the theme
“Simplification of Customs
Procedures in Achieving 2022
Revenue Target”.
The meeting will among
other things discuss the GRA
risk management structure,
simplification of bonds and
treaties, overview of terrorism
Business
AngloGold made over
one billion dollars
investments in Ghana
registered partner Ghanaian
companies, while 98 per cent
of its 4,000 employees were
Ghanaians.
President Nana Addo Dankwa
Akufo-Addo, in 2019, re-opened
AngloGold’s Obuasi Mine with
an initial investment of US$881
million after its shutdown in
2014.
The revamping of the Obuasi
GRA-Kumasi
generates GH184.5M
as revenue in July
in Africa and its effects on
trade (roles and challenges of
the Customs Division), trade
agreement and its effects on
revenue and the role of post
clearance audit in revenue
mobilization.
The Sector Commander
outlining the functions of the
Kumasi collection said they
ensure that goods that entered,
exited or transited their
operational areas went through
right customs procedures and
processes.
They also performed direct
export, temporal export,
voluntary import compliance,
free zones and petroleum
functions.
Mr. Omari hinted that
plans were far advanced to set
up a checkpoint on the Ejura-
Kumasi Road, where intelligence
gathered confirmed that it had
become a major smuggling route
in the Ashanti Region.
He, however assured that
the other existing checkpoints
located at Kubease, Ahenkro,
Mankranso, and Mpasatia in
the region would continue to
perform their duties effectively.
He mentioned that the
checkpoint at Anwiankwanta
on the Kumasi-Obuasi road
which linked to the Central and
Western Regions needed to be
relocated.
This was due to the ongoing
road construction which
had affected their day-to-day
activities on the stretch.
DAILY ANALYST Friday, 12th August, 2022
Mine has created employment
for the indigenes and boosted
the local economy.
Mr Calderon announced this
when he paid a courtesy call
on Mr George Mireku Duker, a
Deputy Minister of Lands and
Natural Resources in charge of
Mines, in Accra, ahead of his
meeting with President Akufo-
Addo at the Jubilee House.
He said the Mine would
continue to invest in its
shareholders and local
communities hosting its
operations to make a difference
in the lives of the people.
“We invest in many countries
in the world, from Australia,
Americas to Africa and I’ve been
to many places, and I can say
with certainty that the country
The Ghana Union of
Traders Association
(GUTA) is cautioning
that Ghanaians
may buy Christmas
goods at much higher prices in
December this year.
Goods, including food items
like cooking oil, rice, sugar,
second-hand clothing, and
frozen foods, as well as nonfood
items such as Christmas
trees, ribbons, and balloons for
decorations are mostly imported
by members of GUTA.
Dr Joseph Obeng, President
of the Association, told the
Ghana News Agency that if the
Government did not address
the depreciation of the Cedi
immediately, Ghanaians would
buy their Christmas goods at
expensive prices.
He said: “We would have to
bring as much goods as we can,
but to tell the truth, our capital
itself has dwindled. It means it
will also affect the volumes of
trade that we do, especially in
the last quarter of the year if the
trend continues.”
“When exchange rate goes
up, inflation goes up, interest
rate and all the indicators of
trading go up, it will definitely
affect the final pricing then it
will affect the final consumer
who already is suffering,” he
emphasised.
Dr Obeng noted that the
working capital of many
members of GUTA, the country’s
umbrella body of traders
(importers and exporters),
continued to deplete due to the
depreciation of the Cedi against
the Dollar amid high interest
rates on loans.
The President said that:
“It could be recalled that since
December 2021 when the dollar
was GHS6.4, our working capital
that welcomes us the most and
gives us support is Ghana,” Mr
Calderon stated.
Mr Duker, on his part,
gave the assurance that the
Government would continue to
create an enabling environment
for the large-scale mining
companies to thrive and ensure
a win-win situation.
He said government’s
dealing with the large-scale
mining companies would be
has been depleted by 40 per
cent. Now that the dollar has
reached GHS9, our worst fear is
that we are now going to make
Christmas orders from our
suppliers, which may aggravate
the situation.”
He said that the import
business had become
“gloomy and pathetic” as the
multinationals have taken over,
and their efforts to start looking
for goods to export to support
the economy had not yielded the
expected result.
He, therefore, called on
the Government to amend
the country’s investment
law on foreign retail trade
and wholesale to make the
multinationals deposit their
capital fund in Ghana for
transfers.
“We believe that the
government should have full
control of management of our
national resources as well as the
capability to solve this problem
in the shortest possible time,” Dr
Obeng, said.
anchored on transparency and
accountability by providing the
necessary information to them.
He said AngloGold Ghana
remained an integral part of the
government’s mining drive and
would continue to support it.
“The leadership of your
men here are doing so well and
they have shown quality and
competence in the company’s
operations,” Mr Duker said.
GUTA cautions public of increase
in prices of goods at Christmas
Inflationary pressures and
other factors have compounded
the economic hardship in
Ghana whose economy was once
described by the International
Monetary Fund (IMF) as the
fastest growing economy in sub-
Saharan Africa.
This has made the
Government to initiate
discussions with the IMF to
support Ghana’s homegrown
economic programme to restore
macroeconomic stability, anchor
debt sustainability, and promote
inclusive and sustainable
growth.
Meanwhile, the President
Nana Addo Dankwa Akufo-Addo
had said that the Government
was determined to work hard to
turn the economy around.
The President said that with
the measures put in place by the
Government: “I am confident
that we will revive and revitalise
the economy and put our
nation back on the path of rapid
economic growth.”
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