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Ghana Daily News is an online News portal bringing you comprehensive Business News from all around the world.

Democracy Hub begins nationwide demonstration to
21/09/2024

Democracy Hub begins nationwide demonstration to

Electricity Company of Ghana informs public of power outages in parts of Accra.Source:
28/03/2024

Electricity Company of Ghana informs public of power outages in parts of Accra.
Source:

New London exhibition opens exposing human trafficking from Africa to the United Arab Emirates (UAE) for s*xual exploita...
16/11/2023

New London exhibition opens exposing human trafficking from Africa to the United Arab Emirates (UAE) for s*xual exploitation

PRESS RELEASE

LONDON, United Kingdom, November 16, 2023/ -- A new exhibition is launching in London on 17 November exposing the trafficking of African women for s*xual exploitation in the UAE, entitled: ‘Send Them Home – Stop Human Trafficking’ (https://SendThemHome.co.uk).

The women featured in the exhibition are some of thousands of vulnerable women who arrive in Dubai every year from Nigeria, Ghana, Kenya, and across Africa after being sold false promises of working in well-paid jobs in the UAE. However, when they arrive, many are tricked into forced s*x work. Their passports often confiscated by their traffickers, the women are told that to regain their travel documents – and their freedom – they must pay their employer huge sums by engaging in s*x work.

The exhibition is an immersive journey into the dark and complex world of human trafficking, providing visitors with an opportunity to hear real testimonies from survivors and activists from Africa and around the world.

It is organised by Send Them Home (https://SendThemHome.co.uk), a campaign group helping to repatriate Nigerian and other African women trafficked to the UAE for forced s*x work, and Hope Education Project (https://HopeEducationProject.org), a pilot education programme in Ghana tackling human trafficking at its source.

Angus Thomas, Founder of Send Them Home and Hope Education Project, said:

“This exhibition provides a platform for these important stories to be heard. Like many vulnerable women the world over, they were cruelly manipulated and exploited – with officials seemingly allowing human trafficking to flourish and s*x workers to operate openly in the UAE’s lavish international hotels. Yet in the face of deception, adversity, and abuse, these women have shown incredible strength and bravery. Shining a light on the dark underground world of human trafficking through this immersive exhibition empowers visitors with the knowledge of the survivors’ experiences to recognise and, one day I hope, eradicate human trafficking for good.”

Send Them Home is currently working with the Nigerian National Agency for the Prohibition of Trafficking in Persons (NAPTIP) to repatriate three women trafficked to the UAE for forced s*x work. One of which has just returned to Nigeria, whilst two others are waiting in a safe location in Dubai for their emergency travel documents to be processed and are expected to be leave the UAE in the coming weeks.

Prof. Fatima Waziri-Azi, Director General of Nigeria’s NAPTIP, said:

"Human trafficking doesn't just rob one soul of freedom, but it steals hope from families, shatters friendships, and stains the very fabric of humanity. Since 2018, we have had 146 trafficking victims emanating from the UAE - including potential victims intercepted from airports. The highest number we have seen was in 2022 when we coordinated 63 rescues and repatriations.

“We are working with Send Them Home to rescue more women from the UAE. Next week, we expect to receive three more survivors of human trafficking forced into s*x work to be safely returned to Nigeria.”

The exhibition is open from 17th November to 20th December at 59 Greek Street in Soho, London, UK.

Exhibition details

Open: Daily from 11am to 9pm, 17th November to 20th December

Location: 59 Greek Street, Soho, London, W1D 3DZ

Admission: Free

HELP FOR NIGERIANS TRAFFICKED FOR SEXUAL EXPLOITATION This website is hosted and operated in the United Kingdom and is intended as a resource for Nigerian women trafficked to Dubai to work in the s*x industry. Send Them Home has funds in the UK available for repatriation to Nigeria from the UAE.

India's RMG exports to Middle East and Africa reached US$2.68 billion in 2022-23Source:    Press Release Date: Dubai, UA...
25/10/2023

India's RMG exports to Middle East and Africa reached US$2.68 billion in 2022-23

Source:

Press Release

Date: Dubai, UAE; October 25, 2023

News Highlights:
1. India's RMG exports to the Middle East and Africa region reached US$2.68 billion in the fiscal year 2022-23, and over US$774.5 million in the first seven months of the current fiscal year (2023-24)
2. The UAE was the largest importer of Indian RMG in the Middle East and Africa region in 2022-23, with imports valued at US$1.21 billion
3. The trade show will bring together over 350 top Indian apparel brands, showcasing a diverse array of collections.
4. 'Brands of India' has been meticulously designed to serve as the primary destination for wholesalers, retailers, distributors, importers, and departmental chains from the Middle East and Africa region to conveniently connect with leading Indian apparel brands.
5. The strategic choice of Dubai as the tradeshow's location is purposeful, leveraging the city's global reputation for exceptional infrastructure, connectivity, free trade zones, and business-friendly policies.

India's ready-made garment (RMG) exports to the Middle East and Africa region reached US$2.68 billion in the fiscal year 2022-23, and over US$774.5 million in the first seven months of the current fiscal year (2023-24), according to a recent report by the Research & Promotion Department of the Apparel Export Promotion Council (AEPC).

The total RMG exports from India to GCC countries was reported to be US$1.83 billion on year 2022-23 and over US$541 million up to July 2023.

To capitalize on the growing RMG export market to the Middle East and Africa region, the Clothing Manufacturers Association of India (CMAI) is hosting a prestigious B2B trade show called 'Brands of India' at the Dubai World Trade Centre in Halls 6 & 7 from November 27-29, 2023.

The United Arab Emirates (UAE) was the largest importer of Indian RMG in the Middle East and Africa region in 2022-23, with imports valued at US$1.21 billion. During the first seven months of 2023-24, UAE imports of Indian RMG reached US$368.78 million.

Supported by the Embassy of India, the Dubai Textile Merchants Association (TEXMAS), Dubai Chamber International, and Readymade Garments Merchants Group Dubai, 'Brands of India' is set to be India's largest apparel brands show in the Middle East. The trade show will bring together over 350 top Indian apparel brands, showcasing a diverse array of collections encompassing Indian ethnic wear, Western wear, and Fusion Wear across Men's wear, Women's wear, and Kid's wear categories.

'Brands of India' has been meticulously designed to serve as the primary destination for wholesalers, retailers, distributors, importers, and departmental chains from the Middle East and Africa region to conveniently connect with leading Indian apparel brands. The trade show will feature over 350 brands in Men's wear, Women's wear, and Kid's wear occupying 255 stalls and spread across 70,000 sq. ft. area at the Dubai World Trade Centre.

Renowned brands such as Louis Philippe, BIBA, Soch, Stori, Cover Story, Sin, Ancestry, Indifusion, Touch, Dollar, Gini and Jony, Rachna Udyog, Siyaram, A-La Mode, Nostrum, Body Mark, and many others are participating in the show.

Mr Rajesh Masand, President of CMAI says, “The 'Brands of India' trade show is a timely and important initiative for the Indian apparel industry. The Middle East & Africa are key export markets for our products, and this event will provide a unique platform for Indian brands to showcase their latest collections to a global audience of buyers. We are confident that the show will be a success and will help to further boost India's RMG exports to the region.”

Mr Jayesh Shah, Vice President of CMAI says, “The 'Brands of India' trade show is a testament to the growing strength and vitality of the Indian apparel industry. We are excited to bring together over 350 top Indian apparel brands under one roof to showcase their diverse and innovative collections to the world. The show is expected to attract a large number of buyers from the Middle East and Africa region, and we are confident that it will generate significant business opportunities for Indian brands. We are also grateful for the support of the Embassy of India and the Dubai Textile Merchants Association in making this event possible.”

“Indian apparel brands have attained competitive pricing while adhering to international quality standards. However, currently, a majority of India's apparel exports are produced under the labels of buyers. Hence, there was a pressing need to establish a platform for the robust promotion of Indian apparel brands in the global marketplace. Aligned with the Government of India's 'Make in India' and 'Atmanirbhar Bharat' initiatives, the Brands of India show by CMAI represents a significant stride in offering the initial platform for both National and Regional apparel brands to venture into international opportunities.” Mr Rahul Mehta, Chief Mentor, CMAI, further added.

'Brands of India' promises an immersive experience where visitors can connect with Indian apparel brands and manufacturers, fostering new business relationships and exploring potential collaborations for mutual growth.

The strategic choice of Dubai as the tradeshow's location is purposeful, leveraging the city's global reputation for exceptional infrastructure, connectivity, free trade zones, and business-friendly policies, making it the optimal epicentre for international trade.

Some selected overseas buyers will be provided with privilege facilities such as one-night complimentary hotel stay, pre-fixed one-on-one meetings with participants of interest in Men's wear, Women's wear and Kids wear - casuals, ethnic and western formals, Arabic interpreter on request, access to on-site VIP lounge, and much more.

Some of the leading names to visit the Brands of India show include Lulu Group, Landmark Group, Apparel Group, Yellow Flower Group, Snow White Garments, BMA International, City Centre & Bait Awladona Co. (Kuwait) to name a few.

This trade show is a timely initiative by CMAI, as the RMG export market is growing rapidly. It is a unique opportunity for Indian apparel brands to showcase their products to a global audience and explore new business opportunities.

Visa waiver between Ghana and South Africa to begin November 1, 2023.Press Release. Source:Ministry of Foreign Affairs a...
13/10/2023

Visa waiver between Ghana and South Africa to begin November 1, 2023.

Press Release.
Source:Ministry of Foreign Affairs and Regional Integration Ghana.

Africa Data Centres, The U.S. International Development Finance Corporation (DFC) sign statement reaffirming ongoing par...
13/10/2023

Africa Data Centres, The U.S. International Development Finance Corporation (DFC) sign statement reaffirming ongoing partnership for Ghana facility investment of $300 million

PRESS RELEASE

ACCRA, Ghana, October 13, 2023/ -- The DFC and Africa Data Centres (www.AfricaDataCentres.com) have signed a statement reaffirming their shared commitment to strengthen ICT infrastructure in Africa and Africa Data Centres’ intent to mobilise part of its existing DFC-financing commitment of $300 million to construct a first-of-its-kind data centre in Ghana; The investment is part of the organisation’s plan to strengthen ICT infrastructure in Africa; Opening doors to the new data centre facility reiterates the Ghanaian government’s intention to cultivate the potential of the country’s technology industry.

Africa Data Centres, a business of Cassava Technologies group, is pleased to announce that it has signed a statement reaffirming its ongoing partnership to strengthen ICT infrastructure in Africa with the U.S. International Development Finance Corporation (DFC). The statement marks DFC’s continued interest in supporting Africa Data Centres’ expansion in countries eligible for DFC financing, including Ghana, where Africa Data Centres intends to mobilise funds from its existing DFC financing commitment of $300 million to develop a first-of-its-kind data centre that will provide up to 30MW of IT load.

According to Hardy Pemhiwa, President and Chief Executive Officer of Cassava Technologies, “Over the past decade, Ghana has embarked on a transformative journey, and one area that is seeing significant focus is its burgeoning technology sector. With a youthful and dynamic population, a government that provides support, and a thriving startup ecosystem, Ghana is well-positioned to emerge as a prominent technology hub within the next five years.”

DFC CEO Scott Nathan said, “DFC’s support for Africa Data Centres is a demonstration of our commitment to 21st century infrastructure, and the United States’ commitment to supporting safe, secure, and trusted ICT infrastructure that connects communities to the opportunities of the global marketplace. Markets with trusted technology and dependable data storage can become magnets for businesses that create jobs and opportunities in high-growth sectors. As this planned facility becomes operational, it will help to enable development and economic growth for communities across Ghana.”

Ghana must continue attracting investment in infrastructure to secure its position as an up-and-coming technology hub in the coming five years. This statement is a step towards achieving this objective. Leaders from the DFC, Africa Data Centres, and the government celebrated their ongoing commitment to strengthen ICT infrastructure in Ghana.

With this statement, Africa Data Centres has reiterated its ethos of leaving no African behind. Ghana will benefit enormously from the new data centre, as it will allow for locally generated data not to leave the country’s borders. Additionally, the presence of local data centres will attract even more investment from international digital entities to help the country achieve its digital ambitions.

Public Private Partnerships are integral to all economies' overall development and expansion. This partnership between Africa Data Centres and DFC highlights the key role that technology will play in ensuring that Ghana continues its upward trajectory of becoming a digital economy. “The Ghanaian government has astutely recognised the potential of the technology industry and has taken proactive measures to ensure its growth,” concluded Pemhiwa.

IMF Reaches Staff-Level Agreement on the First Review of the Extended Credit Facility and Conducts Discussions of the 20...
06/10/2023

IMF Reaches Staff-Level Agreement on the First Review of the Extended Credit Facility and Conducts Discussions of the 2023 Article IV Consultation with Ghana

FOR IMMEDIATE RELEASE

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF's Executive Board for discussion and decision.
IMF staff and the Ghanaian authorities have reached staff-level agreement on economic policies and reforms to conclude the first review of the 36-month ECF-supported program. Performance with respect to the program’s targets and reform objectives has been very strong.
Ghana will have access to about US$600 million in financing once the review is approved by IMF Management and formally completed by the IMF Executive Board. To ensure timely completion of the review, the country needs official creditors to quickly reach agreement on a debt treatment in line with the financing assurances they provided in May 2023.
The authorities’ strong policy and reform commitment under the program is bearing fruit, and signs of economic stabilization are emerging. Growth in 2023 has proven more resilient than initially envisaged, inflation has declined, the fiscal and external positions have improved, and the exchange rate has stabilized.

Accra, October 6, 2023: An International Monetary Fund (IMF) staff team, led by Mr. Stéphane Roudet, Mission Chief for Ghana, held meetings in Accra from September 25 to October 6, 2023, to discuss progress on reforms and the authorities’ policy priorities in the context of the first review of Ghana’s three-year program under the Extended Credit Facility. The arrangement was approved by the IMF Executive Board for a total amount of SDR 2.242 billion (US$ 3 billion) on May 17, 2023. The team also conducted the 2023 Article IV consultation.

At the end of the mission, Mr. Roudet issued the following statement:

“I’m very pleased to announce that the IMF staff and Ghanaian authorities have reached a staff-level agreement on the first review of Ghana’s economic program under the Extended Credit Facility arrangement. This staff-level agreement is subject to IMF Management approval and Executive Board consideration once the necessary financing assurances have been received. An agreement with official creditors on a debt treatment in line with program parameters would provide the needed financing assurances. Upon completion of the Executive Board review, Ghana would have access to SDR 451.4 million (about US$ 600 million), bringing the total IMF financial support disbursed under the arrangement, since May 2023, to SDR 902.8 million (about US$1,200 million).

“Faced with an acute economic and financial crisis, the authorities have adjusted macroeconomic policies, successfully completed their domestic debt restructuring operation, and launched wide-ranging reforms. These actions are already generating positive results, as growth in 2023 has proven more resilient than initially envisaged, inflation has declined, the fiscal and external positions have improved, and the exchange rate has stabilized.

“Consistent with the authorities’ commitments under the Fund-supported program, fiscal performance has been strong, and Ghana is on track to lower the fiscal primary deficit on a commitment basis by about 4 percentage points of GDP in 2023. Spending has remained within program limits. To help mitigate the impact of the crisis on the most vulnerable population, the authorities have significantly expanded social protection programs. On the revenue side, Ghana has met its non-oil revenue mobilization target. Ambitious structural fiscal reforms are bolstering domestic revenues, improving spending efficiency, strengthening public financial and debt management, and enhancing transparency.

“In light of Ghana’s compelling performance under the Fund-supported program, the critical next step is to secure an agreement with official creditors on the terms of a debt treatment consistent with the IMF Executive Board-approved program parameters and debt targets. We urge official creditors to move forward and agree on an appropriate debt treatment in line with the financing assurances they provided in May 2023.”

IMF staff held meetings with Vice President Bawumia, Finance Minister Ofori-Atta, and Bank of Ghana Governor Addison, and their teams, as well as representatives from various government agencies. The IMF team also engaged with other stakeholders. Staff would like to express their gratitude to the Ghanaian authorities and other counterparts for their continued open and constructive engagement.

Press Release by the NCCE on recent arrests by the Ghana Police on   Democracy Hub demonstrators.
26/09/2023

Press Release by the NCCE on recent arrests by the Ghana Police on Democracy Hub demonstrators.

NPP Statement on the resignation of Alan Kyerematen from the party.
25/09/2023

NPP Statement on the resignation of Alan Kyerematen from the party.

Arise Ghana organises Occupy Bank of Ghana Demonstration. Date: Tuesday October 3, 2023.Converging Point: Obra Spot, Cir...
24/09/2023

Arise Ghana organises Occupy Bank of Ghana Demonstration.
Date: Tuesday October 3, 2023.
Converging Point: Obra Spot, Circle.

FixtheCountry Protest Protest 🪧 Day 3. Venue: Meeting at 37 Trotro Station. Date: 23rd September, 2023. Source:
23/09/2023

FixtheCountry Protest Protest 🪧 Day 3.
Venue: Meeting at 37 Trotro Station.
Date: 23rd September, 2023.
Source:

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