APA – Accra (Ghana)
The drop in inflation rate for the second time in a row to 52.8 per cent in February this year from 53.6 per cent in January 2022 is one of the leading stories in the Ghanaian press on Thursday.
The Graphic reports that inflation has declined for the second time in a row.
It fell to 52.8 per cent in February this year from 53.6 per cent in January 2022.
The February 2022 figure was announced by the Government Statistician, Prof. Samuel Kobina Annim on Wednesday.
It means that unlike January when prices of goods and services rose by an average of 53.6 per cent nationwide, they increased by 52.8 per cent in January across the country.
At 52.8 per cent, inflation is still in record high territories although now in a declining trend.
The newspaper says that the Ministry of Finance has called for circumspection on public discussion on its proposal for a more than 88 per cent increase in road tolls.
The ministry said the amounts quoted in its leaked letter to the Ministry of Roads and Highways “are only proposals to be subjected to consultations and approvals at appropriate levels.”
It said in a release issued today, Wednesday that similar consultations would be held with other stakeholders before a concrete decision would be arrived at.
The ministry explained that the letter only sought to convey proposed rates for the tolling of roads and highways to Ministry of Roads and Highway.
It stressed that the reintroduction of road toll was a fiscal policy measure captured in the 2023 Budget Statement and Economic Policy to support revenue generation
It, therefore, called on the media to be circumspect in discussing the issue.
In leaked letter, the Ministry of Finance had proposed that road tolls be raised by an average of 88 per cent as part of efforts towards ensuring a return of the levies that were abolished in November 2022.
As part of the proposal, the ministry want motorbikes to be levied 50pesewas compared to an earlier amount of 10pesewas.
It also wants tolls of salon cars to rise from 50pesewas to GH¢1 while that of Pick-ups and 4X4 vehicles will increase to GH¢1 to GH¢1.50.
Heavy buses are also to be levied GH¢2, up from the previous figure of GH¢1.50, while heavy duty trucks with five or more axles will be asked to pay GH¢3 compared to an earlier fee of GH¢2.
The Ghanaian Times reports that a minimum of $30 billion is needed to develop Ghana’s entire railway network.
However, of the expected amount, the government has so far invested $2 billion into the sector accounting for almost 75 per cent of the country’s 4,000 kilometres railway network, unconstructed.
The Chief Executive Officer (CEO) of the Ghana Railway Development Authority (GRDA), Yaw Owusu, made this known at a stakeholder workshop to discuss Ghana’s 2020 Railway Master Plan, in Accra yesterday.
First developed in 2013 and upgraded in 2020, the Railway Master Plan is the country’s current blueprint for the development of its railway network.
According to the CEO, it was investments made into the sector that had seen projects like the 97-kilometre Tema-Mpakadan railway line which was near completion, the 80-kilometre railway line from Takoradi to Huni Valley via Nsuta and Tarkwa as well as the six-kilometre double line from Kaase to Adum in Kumasi which was ongoing, come into existence.
“Discussions are also far advanced to construct Accra to Nsawam, Achimota to Tema and Eduadin to Obuasi lines. These are all standard gauge rails,” he said.
Mr Owusu said an efficient transportation system was crucial to decentralise and grow the economy, pointing out that althoughthe rail sector was capital-intensive, it had long-term benefits for the nation.
“We just need commitment in terms of our national priorities. We need to find ways to change the narrative of our transportation setup and make railway, a national top priority,” he added.
The CEO expressed the hope that by 2025 when the master plan is reviewed, Ghana would have made significant progress in its rail sector to help relocate commercial activities from already congested urban centres.
“The Chinese are building an average of 1,000 kilometres high speed tracks every year. In our own backyard, Nigeria has constructed a 500-kilometre standard gauge railway line to link Abuja and Lagos.
Kenya has also linked the capital city of Nairobi to the coastal city of Mombasa. It is our turn to link for example, Accra to Kumasi, in the shortest possible time,” he said.
The Deputy Minister of Railway Development, Kwaku Asante-Boateng, said there was the urgent need to find alternative means of funding the railway sector.
“We do not have the money and the railway sector is very capital-intensive. For every one kilometre of railway, we need at least $5million to construct so we need to find ways of getting funds to develop the sector,” he said.
The newspaper says that Ride Hailing Service Provider, Yango, has announced plans of adding thousands of cars to its fleet in Ghana by the end of 2023 to enhance service delivery and client satisfaction.
The company recently entered into a partnership with Leasafric Ghana Plc, a leasing and logistics business in Ghana, which would procure and make vehicles available to operate on Yango’s platform.
The partnership, according to Yango, formed part of its client acquisition and expansion strategy aimed at “ensuring a comfortable and safe travel experience for its customers”.
Commenting on the partnership, Managing Director of Leasafric, Iyke Chiobi, said the mission was to provide customers with “quality leasing and ancillary service solutions to meet their unique needs”.
“This partnership is dear to us, and we will bring to bear our expertise at ensuring superior experience for ride-hailing on the Yango platform. Leasafric’s service delivery is supported by appropriate technology in accordance with world class systems and procedures.
“In the medium to long term, Leasafric will partner Yango in other jurisdictions within the West Africa sub-region where Yango is present,” Mr Chiobi said.
Yango’s Head of Africa, Adeniyi Adebayo, expressed the company’s commitment at ensuring quality and safety on its platform.
“We are devoted to the people of Ghana and intend to expand our business in the country with the help of great partners, such as Leasafric,” he said.
GIK/APA