Press zooms in on Foreign Minister’s drive to showcase Ghana in Italy, others

APA – Accra (Ghana)
The visit of the Minister of Foreign Affairs and Regional Integration, Shirley Ayorkor Botchwey, to Italy for strategic diplomatic collaboration to showcase Ghana in Italy with a focus on trade and investment is one of the leading stories in Ghanaian press on Thursday.
The Graphic reports that the Minister of Foreign Affairs and Regional Integration, Shirley Ayorkor Botchwey, was welcomed to Rome by Ghana’s Ambassador to Italy, Merene Botsio Benyah, in a strategic diplomatic collaboration to showcase Ghana in Italy, with a focus on trade and investment.
Speaking during the national day celebration to commemorate Ghana’s 66th independence at the Cavalieri Waldorf Astoria hotel in Rome, the Foreign Minister said the year 2022 was indelible in many ways, with the effects of the COVID-19 pandemic and the ongoing global economic challenges.
She said these had inflicted various hardships globally, but the Government of Ghana is determined to address the impact of the global economic downturn.
“Government has since instituted a number of interventions to resolve these concerns and we remain confident that we will see the results of relief and recovery very soon. As His Excellency the President of the Republic has always reiterated, this too shall pass”, she said.
According to Ms Botchwey, it is noteworthy, that under the leadership of President Akufo-Addo the country is witnessing significant economic transformation with various programmes such as Free Senior High School Education, One District One Factory, and Planting for Food and Jobs.
“Indeed our economic growth rebounded making Ghana among the fastest growing economies in the world for three years in a row … We expect the year 2023 to be one of hope and joy.”
Speaking at the event which brought together more than 300 patrons, Ghana’s Ambassador to Italy, Merene Botsio Benyah, called on Ghanaians to unite and rally behind the government’s impactful economic transformational programmes, in order to help realize the country’s aspirations.
Ambassador Botsio Benyah spoke about “Ghana’s conducive and investor friendly business environment, with a vibrant private sector which is well positioned for mutually beneficial commercial partnerships with international companies.”
The Ambassador said that government’s ongoing programmes had positioned Ghana as a “frontier for industrialisation and manufacturing in the region.”
In his remarks, the Director for Sub-Saharan Africa at the Italian Ministry of Foreign Affairs and International Cooperation, Giuseppe Mistretta commended the Ghana Mission for the national day celebration.
He also commended Ghana for hosting the AfCFTA Secretariat describing it as “a game changer” for the continent and the rest of the world.
The newspaper says that Energy Minister, Dr. Matthew Opoku Prempeh, has revealed that crude condensate worth $2.5m has gone missing from the Tema Oil Refinery (TOR).
Dr. Prempeh stated that the deal he secured for TOR in the premix sector has left the funds unaccounted for.
“I gave TOR a new business opportunity in the premix fuel market that all the condensate from Ghana Gas should be used for making premix fuel. The last time I heard, Over 2.5 million dollars worth of condensate had gone missing from TOR,” he said.
He assured the public that the government is doing everything possible to revive the refinery following an appeal by workers. However, workers are calling for the dismissal of the Managing Director, Jerry K. Hinson, over allegations made against him.
The General Transport Petroleum Chemical Workers Union (GTPCWU) has announced their intention to picket at the Jubilee House, Ministry of Energy, and other strategic locations.
In response, Mr. Hinson in a letter warned workers that any illegal strike action or picketing will be dealt with according to the law, citing clauses 168-171 of the Labour Act.
“Kindly be aware of the illegality of any such actions under clauses 168- 1 71 of the Labour Act and the consequences thereunder for participants/staff involved. Please be aware of section 171 in particular which emphasises the term “picketing” which is only lawful in furtherance of a lawful strike/industrial action,” he said.
The Ghanaian Times reports that Ghana’s economy expanded by 3.1 per cent in 2022 against 5.1 per cent recorded in 2021 driven by the services sector and mining and quarrying.
In value terms, the growth, including oil, is estimated at GH¢610.2 billion and without oil is GH¢179.96 billion at current prices.
The growth, which is provisional, was driven by the services sector, contributing 44.9 per cent of the annual GDP growth and mining and quarrying.
The Government Statistician, Professor Samuel K. Annim, speaking at a ceremony in Accra yesterday to release the provisional data on the 2022 quarter and annual Gross Domestic Product estimates, said mining and quarrying under industry drove the overall GDP growth recorded in 2022.
He explained that the gold sub-sector, which recorded 32 per cent, drove the growth in the industry.
Professor Annim stated that the services sector contributed almost half of the GDP growth in 2022 estimated at GH¢256.4 billion.
He said the services sector recorded a year-on-year GDP growth rate of 5.5 per cent estimated at GH¢256.4 billion.
However, the Government Statistician said compared with the GDP growth last year, the services sector GDP growth dipped by 3.9 per cent from 9.4 per cent in 2021 to 5.5 per cent in 2022.
“The Information and Communication sub-sector recorded the highest year-on-year GDP growth rate of 19.7 per cent, education 10.2 per cent and health and social services at 9.2 per cent drove the growth recorded by the services sector in 2022,” said.
He said while the professional, administrative and support services sub-sectors under services contracted by 10.9 per cent.
Prof. Annim said agriculture expanded by 4.2 per cent in 2020 at a nominal value of GH¢119.4 billion, compared with the 8.5 per cent in 2021, and the growth was influenced by the fishing sub-sector.
The newspaper says that country’s year–on-year Producer Price Inflation (PPI) provisionally fell to 43.7 per cent in March from 50.8 per cent in February, the Ghana Statistical Service has said.
It said the monthly producer inflation in March stood at 1.7 per cent.
Data provided by the GSS said industry recorded the highest rate of inflation in March at 43.3 per cent compared with the 57.9 per cent recorded in February.
The GSS said the construction sector recoded year-on-year inflation rate of 18.8 per cent from 21.1 per cent of the figure recorded in February.
It said the PPI for the services sector rose to 18.0 per cent in March from 13.4 per cent in February.
“For the sub-sectors, transportation and storage recorded the highest year-on-year PPI of 59.3 per cent. Electricity and gas at 57.5 per cent, accommodation and food services recorded 47.0 per cent, with PPI higher than the national average producer inflation of 43.7 per cent,” the GSS said.
The data said the PPI for the mining support service activities rose to 56.9 per cent in March from 52.0 per cent in February, PPI for mining of metal ores fell to 52.5 per cent in March from 70.0 per cent in February, and PPI for the extraction of crude oil and natural gas fell to 15.5 in March from 44.1 per cent in February.
The GSS said the manufacture of pharmaceuticals, medicinal chemical and botanical prod-ucts drove the PPI rate in the manufacturing sector with a rate of 98.6 per cent in March from 108.7 per cent in February, and the manufacture of coke and refined products at the rate of 94.0 per cent.
For the construction sector, the data said construction of buildings recorded PPI rate of 41.5 per cent in March from 49.7 per cent in February, and civil engineering recorded PPI of 10.6 in March from 11.0 per cent in February, while PPI for specialised construction activities rose to 6.4 in March from 6.0 in February.
The GSS said in the services sector, the PPI for the information service activities rose to 177.6 per cent in March from 111.6 per cent in February.
GIK/APA