Video guest: Josephine Mwangi

December 2017
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EDITO
Sunday, 17 December 2017

Minister for Foreign Affairs and Trade Promotion Carmelo Abela announced the opening of a Maltese high commission or embassy in Sub-Saharan Africa soon - Malta’s first mission in this African region which will open “a trade gateway to this part of Africa”. The Minister said there are three countries under consideration and the final decision will be announced next month. During a press conference marking the first 100 days of this legislature and Minister Abela taking up his new brief, the Minister explained that trade promotion was an obvious addition to the Foreign Affairs brief after internationally-respected Finch Ratings upgraded Malta to ‘A+’, “meaning Malta has the right environment to do business”. The hard-working and dedicated staff at Maltese embassies and high commissions abroad, including non-resident ambassadors, are building on their solid diplomatic relationships to increase business interactions, the minister said.

A total of 25 banks and 66 bidders took part in this year’s cocoa purchases loan arrangement with Ghana Cocoa Board (COCOBOD), Chief Executive Officer (CEO) Joseph Boahen Aidoo has said. COCOBOD realised $1.3 billion from the syndicated loan facility to buy cocoa beans for the 2017/2018 crop season at an interest of 0.65 percent. The signing ceremony, which took place in Paris, France on Wednesday 20 September, marked the 25th anniversary of Ghana’s engagement in soft commodity financing on the international market. Mr Aidoo, who addressed the media in Accra Wednesday via a telephone interview from Paris shortly after signing of the deal, described it as one of the best interest rates.

In order to promote socio-economic activities in Niger Delta and promote peace through increased access to safe and sustainable water supply, the European Union has released 20 million euros to the region. ‎This was revealed recently in Uyo, the Akwa-Ibom State capital during a media dialogue on Water, Sanitation and Hygiene (WASH) by UNICEF WASH specialist, Engr. Moustapha Niang. He said the project which is called the Niger Delta Support Project (NDSP) is a five-year project aimed at mitigating the conflict in the Niger-delta region by addressing causes of non-availability of potable water and bring lasting solutions.

The Executive Secretary of the Ghana Free Zones Board (GFZB), Mr Michael Okyere Baafi, says the board has positioned itself to learn about best practices from other international investment promotion agencies in the world. He explained that in fulfilment of its mandate, the GFZB needed to be abreast of global investment trends and the flow of capital around investment destinations and develop the right partnerships to attract the needed strategic investments. Mr Baafi was speaking to the Graphic Business after a delegation of the GFZB met with officials of CzechInvest, the investment promotion agency of the Czech Republic, om Monday 25 September to share insights into how to attract foreign direct investments around the world.

Discussions at the joint meeting on Development Finance Co-operation held in Brussels of the African, Caribbean, and Pacific Group of States (ACP) and the Organisation for Economic Co-operation and Development (OECD) underscored the need for unlocking complementary finance flows from a broader range of sources to tap into available resources. A statement from the Department of Information on September 28 said Fiji's head of mission to the EU based in Brussels, ambassador Deo Saran chaired a session on international tax collaboration and updated the participants on relevant domestic and international actions, including in the area of climate change.