The allocation of a total of 10 iron ore blocks in the Oti Region to selected investors by the Ghana Integrated Iron and Steel Development Corporation (GIISDEC) to undertake geo-scientific studies, commonly known as Mineral Resource Estimation (MRE) is one of the trending stories in the Ghanaian press on Thursday.
The Ghanaian Times reports that a total of 10 iron ore blocks in the Oti Region have been allocated to selected investors by the Ghana Integrated Iron and Steel Development Corporation (GIISDEC) to undertake geo-scientific studies, commonly known as Mineral Resource Estimation (MRE).
MRE encompasses assessing the tonnage, grade, and value of iron ore deposits, which underpins the basis of engagement between GIISDEC and the investors. It is a crucial step in mine development as it bridges the gap between mineral exploration and commodity production.
The 10 selected investors are Africa Exploration and Mining Ghana Limited; Gem Global Ventures; Cloudline Ghana Limited; Q3 Company Limited; Star Steels Limited; Shokram Limited; B5 Plus Limited; Fabrimetal Limited; Planet One Group and MagyaMining and Contract Services Limited.
The Chief Executive of GIISDEC, KwabenaBonsuFordwor, speaking at a durbar of chiefs and people of at Dambai yesterday, said the allocation and demarcation was done in collaboration with the Ministry of Lands and Natural Resources (MLNR) and the Minerals Commission.
The allocated blocks, according to him, were old mines which stretch from the Akpafu range to Akpafu-Todzi towards the hill east of Santrokofi-Benua.
He said that all the blocks were or near the crest of the Santrokofi-Akuapem-Togo Range with the rest being small, with the exception of the largest and most developed mine, Akpafu-Todzi.
He explained that the objective for the initial allocation was to encourage selected investors to invest in geo-scientific studies.
Mr Fordwor said the iron ore deposits in the country, especially the Sheini Hills deposits, when harnessed properly could change the country’s economic fortunes over years.
Board Chairman of GIISDEC, Farouk Aliu Mahama, said the country was in a position to save foreign exchange and strengthen the local currency through the production of iron rods, steel, and related products for consumption and export.
The newspaper says that an amount of GH¢1.09 billion involved in related party transactions by the defunct Micro Finance Institutions (MFIs) and Specialised Deposit-Taking Institutions (SDIs) has been uncovered, the Bank of Ghana (BoG) has said.
It said the amount was uncovered by the Joint Receivers for the defunct Micro Finance Companies and Specialised Deposit-Taking institutions.
The BoG said untraceable investments amounting to GH¢116.7 million had been uncovered by the Joint Receivers and asked for EOCO’s assistance to trace those investments.
The BoG in a document it issued in Accra yesterday titled collaboration with EOCO in the resolution of Banks and Specialised Deposit-Taking Institutions and sighted by the Ghanaian Times, indicated that it had requested for assistance from the Economic and Organised Crime Office (EOCO) for further investigations to aid recovery.
The Bank of Ghana in 2019 revoked the licence of some 347 Microfinance Companies and 23 Savings and Loans and Finance House Companies following the revocation of their licence and put them in receivership.
It said dockets had been prepared on 13 Specialised Deposit and Taking Institutions and forwarded by EOCO to the Attorney General for advice and prosecution.
The BoG mentioned the institutions as CDH Savings and Loans, IFS FS, Midland Savings and Loans, Goldman Capital, MFC, GN Savings and Loans, Legacy Capital Savings and Loans, Express Savings and Loans and UniCredit Savings and Loans.
The rest are Dream Finance Limited, FTS Capital MFC, Cypress MFC, and AdomSika MFC.
With BoG’s clearance, the Receiver collaborated with EOCO to investigate certain transactions relating to the 347 Microfinance Companies and 23 Savings and Loans and Finance House Companies in 2019.
The BoG said it gave clearance to the Joint Receivers of the 347 Microfinance Companies and the 23 Savings and Loans and Finance House Companies to refer some matters to EOCO for criminal investigations.
“The key issues submitted to EOCO are as follows: Hidden assets and or assets in books not found by the Receiver, related party transactions and untraceable investments,” the BoG said.
The Ghanaian Times also reports that the Deputy Minister of Education, Rev. John Ntim Fordjour, has said that the government is determined to train people with the relevant skills needed in the industrial sector for national development.
He asserted that the industrial sector across the globe was going through different forms of transformation, hence the need for government to equip individuals with the needed skills.
Rev. Fordjour said these at the 42nd Edition of the Management Day Celebration by the University of Ghana Business School (UGBS) in Accra yesterday.
The celebration, on the theme “The future of Business Education in Ghana: Building Effective Public Sector Institutions and Health Systems,” was aimed at providing a platform for academia-industry interaction.
“Ghana has a bright future and indeed we need to be able to not only transform the public sector but also the private sector as these two work hand in hand. Education plays a vital role and we are poised to work on the feedback we receive,” he said.
The Head of Civil Service, Mr Nana Kwasi Agyekum Dwamena, noted that the world of business and public administration was going through some form of transformation due to certain challenges such as the COVID-19.
He noted that due to these challenges industries now required of employees to have certain qualities such as agility, emotional intelligence, data analytics, ethical leadership and negotiation skills and time consciousness.
Mr Dwamena therefore charged the school to as a matter of urgency train students to acquire these qualities and also develop educational reforms in that regard.
Speaking on the sub-theme “Building Resilience in Post COVID-19: The Role of the Public and Health Service in Ghana,” the Director of Health, Administration and Support Service of the Ghana Health Service, Dr Ebo Hammond, said Ghana was able to build a strong resilience during the management of the COVID-19 pandemic.
He noted that through its resilient systems, which included the display of strong leadership skills and direction by the President and other measures such as public health orientation, closure of boarders and aviation, adherence to safety protocols and digitisation, the country had been able to manage the pandemic effectively.
Going forward, Dr Hammond urged the country to leverage on the resilient systems developed to be able to effectively manage any further pandemic outbreak.
GIK/APA