Business

The Ghanaian government has said that it would drastically reduce public spending next year to restore local and international confidence the country’s economy. Ghana will vote in December 2016 to choose new Members of Parliament and an executive President. Ghana’s President, John Mahama said his government will not be coerced by workers for salaries and wages increase because it is an election year. “Often, what happens is that in election year, trade unions and everybody sees that government is in a vulnerable place and so that is where demonstrations and agitations for increased pay begin to happen. Because of the sensitivity of the period and the fear of losing election, government normally will give in to some of these pressures and before you see the budget is over bloated and then when elections are over, the government is installed to start the belt tightening all over again”, he said.

They were many agitations by the labour front in Ghana over increase in salaries and wages last year. This resulted in many strikes and protests against the government. But President Mahama said these agitations against his government last year have toughened his government to contain such pressures. ``It is said that when you kill a goat and you frighten it with knife it doesn’t fear the knife because it is dead already. I have the dead goat syndrome going forward. So we are going to ensure that we have fiscal discipline”, Mr Mahama said.

The Ghanaian leader was addressing the Ghanaian community in Botswana in his three-day State Visit to the Southern Africa country. He assured that the government will maintain fiscal discipline to prevent the country seeking a bailout from the International Monetary Fund (IMF) in future. The IMF agreed a $1 billion economic bailout program with Ghana last month. Ghana is hoping to restore its ailing economy within the next three years on the advice of the IMF. Civil Society Organizations have said that the country’s economy might collapse if emergency measures are not taken by the government to seek external intervention. Critics of the government have said that the current woes of the Ghanaian economy were as a result of the overspending done by the government in the 2012 general elections.

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Ngwa Bertrand

12.Mar.2015

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Philisiwa Sibiwa from the Republic of South Africa has been appointed Executive Director of MTN-Cameroon. Sibiwa takes over from Karl Toriola Olutokun who hailed from the Federal Republic of Nigeria.

The company renewed its operation license in Cameroon on Wednesday in Yaoundé and announced the introduction of the 3 and 4G, over a 15 year period. With a turnover estimated at 300 billion CFA francs in 2014, MTN controls more than 53% of the market of mobile telephones in Cameroon. The South African giant has been operating in Cameroon since 2000.

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Ngwa Bertrand

12.Mar.2015

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The mobile telecom industry in Cameroon will today, March 11, open a new page in its history. The first two mobile operators in Cameroon, MTN and Orange are expected to renew their licenses with the Cameroon government  today and this coming Friday sign a concession agreement which gives them access to mobile value-added services also called third generation 3G .

Cameroon Concord understands that the third generation 3G provides access to a high-capacity Internet connection and allows increased tasks. However, the 3G services will not be readily available throughout the national territory.  As usual with every Cameroonian issue, only key cities such as Yaounde and Douala will enjoy immediately this new innovation. To benefit from the 3G, users must purchase a third generation phone including Applications, the famous "smart phones."  3G was first introduced some six months ago by the third mobile operator in Cameroon, Nexttel.

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Ngwa Bertrand

11.Mar.2015

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According to statistics released by the Civil Aviation Authority in Cameroon,  Camair-co, despite its difficulties, is one of the top three airlines that dominated the skies in 2014 Cameroon Concord has learnt.  Air France carried about 21% of international passenger traffic, followed by Brussels Airlines 13% ,11% Camair-Co, Ethiopian Airlines 8%, and Turkish Airlines 7% , Kenya Airways and Royal Air Morocco 5% each, South African Airways 4%, Air Côte d'Ivoire (3%) the international CEIBA, Cronos Airlines, Equatorial Congo Airlines, Arik Air and Angola Airlines all scoring 2% each.

The Aviation statisticians also revealed that, in 2014, the Douala international airport recorded 72% of passenger traffic as against 27% for Nsimalen Yaounde. A total of approximately 16,542 tons (freight and mail), were transported in the airports of Cameroon against 15 389.4 tonnes in 2013 given an annual growth of 7% in 2014. A of total of 1,222,876 passengers traveled or transited Cameroon in 2014.

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Ngwa Bertrand

11.Mar.2015

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Ngwa Bertrand

09.Mar.2015

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The bank of Central African states (BEAC) which Cameroon is a member has introduced new bank notes into circulation: The more resilient bank notes come in 500,100 and 200 francs denominations.

An official press release from BEAC says the notes have been treated specially to prevent rapid deterioration. They therefore are appealing to the public to get used to the notes and not treat it as counterfeit or with doubts of its authenticity. They further stressed in the press release that despite the new features on the notes (slippery, smooth, shiny and heavier gram), they still possess all the traditional security watermarks as the old notes.

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Ngwa Bertrand

06.Mar.2015

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