Wednesday, 27 November 2024
Monday, 25 November 2024
Saturday, 23 November 2024
Tema=Mpakadan rail line commissioned( Daily Graphic, Saturday, November 23, 2024 Page 1 & 5)
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The
flamboyant ceremony fully compensated for the agony of the April 18, 2024
test-run mishap, which temporarily threw the initial plans out of gear.
Accident
On that
fateful day, one of the newly acquired magnificent trains unexpectedly ran into
a truck which was strangely parked across the railway track during an inaugural
test-run prior to the start of its scheduled operations.
Following
investigations into the matter, the driver of the truck was found guilty of
causing damage to state property, and was, accordingly, sentenced to six
months' imprisonment.
However, the new train eventually embarked on its dream
journey yesterday, with President Akufo-Addo being one of the first passengers
to travel on the railway line.
History
‘The unveiling of the landmark railway line and the fully
air-conditioned DMUs, with a two tier comfortable seating {arrangement for first
class and economy class, and capacity of 255 passengers, marked the return of
the railway enterprise for the movernent of people and goods along the Easter
corridor of Ghana.
‘The construction of the Tema-Mpakadan Railway Line began in
2018 by Afcons infrastructure, financed through an India Export-Import Bank credit
facility at a cost of $447 million. The railway line is the first section of
the Ghana-Burkina Faso interconnectivity project. One of the highlights of the
project is a 300-metre rail bridge across the Volta River, near Senchi. Other facilities
include modem rail stations at Adome, Kpone, Doryumu -JokpanyA-Kodiabe, Shai Hills,
Afienya, Ashaiman, Tema Industrial Area, and Tema Port, as well as two railheads
at Mpakadan and Tema Harbour
Inauguration
‘Speaking at the event, President Akufo-Addo said the
project, conceived under the administration of President John A. Kufuor was a
good example of continuity in government for national development.
He said reducing the reliance on road transport for long
distance freight and passenger movement, the new railway line would address
several critical challenges that had hindered Ghana's development.
‘The President said the new line would significantly
decongest the roads, thereby alleviating the heavy burden that had led to
severe traffic congestion, the rapid deterioration of road infrastructure and
an alarming increase in road accidents
He added that it would enhance the efficiency of port
operations at Tema, minimizing vessel waiting times and container dwelling
times, thereby boosting the competitiveness of Ghana's ports.
“The integration of rail and inland water transport will
also transform trade in agriculture by lowering freight costs, Increasing the
viability of agricultural enterprises along the Volta Lake and facilitating the
seamless movement of {goods and produce to and from northern Ghana and
neighbouring landlocked countries” President Akufo-Addo saId
He described the new railway line as a transformative
intervention to address the pressing issues comprehensively, stressing that
when fully operational, the multimodal network would Link the Tema port to the north-south
transport corridor spanning some 4000 kilometres and open new opportunities for
the movement of fuel, cement, containerized cargo and agricultural produce.
“The economic and social benefits of this project are far-reaching
and transformative. By alleviating the pressure (0n our road network it will extend
the lifeline of vertical routes, including those along the eastern corridor,
while simultaneously lowering the cost of transporting bulk goods, agricultural
produce and containers, thereby enhancing business competitiveness. It will
offer a reliable and cost-effective transportation alterative for passengers in
areas currently underserved by road networks, ensuring greater accessibility
and convenience’ he said
"This project is far more than just a railway line. It
is a lifeline that will empower communities, invigorate businesses and
strengthen industries, ultimately making Ghana more resilient and prosperous,
the President, added,
Achievement
‘The Minister of Railway Development, John-Peter Amewu,
commended President Akufo-Addo for embarking on ‘the longest single rail
project completed since independence.
He indicated that other similar rail activities and
infrastructure undertaken during President Akufo-Addo's tenure from 2017
included the Western Rail Line development projects, which were being developed
in sections such as ‘the 22-kilometre sections from Kojokrom to Manso section
line, which was about 96 per cent complete, the continuation of work on the
section between the port of Takoradi and the Huni Valley, which is about 78
kilometres done.
Mr Amewu added that the government was also financing the
development of a new sixkilometre standard gauge line in Kumasi, between Adum
and Kaase, as part of the Western Line Development Project.
‘The Hohoe Member of Parliament said the government had
since 2017 been investing in the development of local capacity to maintain and
sustain the rail system for the benefit of future generations, following the
upgrade of the railway taining school in Sekondi and had since begun providing
training to over 1,000 youthful Ghanaians and other nationals from and within
the sub-region.
‘The school, he said, now awarded degrees and certificates
to successful graduates through collaborative efforts by the Ministry of
Railway Development and the Ministry of Mines and Technology in Tarkwa,
Key strategy
‘The Chief Executive Officer of the Ghana Railway
Development Authority, Yaw Owusu, sold one of the key strategies of the Tema-Mpakadan
project was to build an intermodal transport system to link Tema Port to the Mpakadan
Port.
That, he said, would ensure that imported goods in
containers would be loaded onto trains and transferred from ‘the trans onto
barges at the Mpakadan Port to be ferried 1o the ports in the Northam part of
Ghana and subsequently transported on train and by road to neighbouring
countries of Burkina Faso and Niger.
Mr. Owusu said traditionally, railway lines were built in
anticipation of a demographic and economic growth, and ‘therefore, invited
business communities to take advantage of the incredible and viable project by
siting businesses
India-Ghana relationship
‘The Indian High Commissioner to Ghana, Manish Gupta, said
the commissioning of the railway line was the single largest project
implemented under the government-to-government development partnership in Ghana
and ‘commended President Akufe-Addo for the realization of what he termed a
flagship project.
He said India had been a long-standing partner in Ghana's
developmental journey and his country remained steadfast in its commitment
towards the country’s economic development, adding that Indian companies had invested
nearly $2 billion, with about $1 billion in lines of credit, buyers’ credit,
during the last two decades.
He said India was among the leading trade partners and a
source of foreign direct investment in this country.
Appeal
‘The Stool Secretary of the Tema Traditional Council , Ni
Shipi Amarh Somponu Il, said the expansion of the harbour and the volume of
cargo handling had increased, hence the construction of the railway line was an
indication that Ghana was prepared to make good use of the harbour to transport
goods to its neighbouring landlocked countries.
Nii Somponu ii renewed the council’s appeal to the
government for the construction of a sea defense wall at Awudum in Tema New
Town to forestall the gradual erosion of the lands as a result of the Tema
Harbour Expansion Programme.
Writer's email benjamin glover@graphic-com.gh
Wednesday, 20 November 2024
Monday, 18 November 2024
Wednesday, 13 November 2024
Monday, 11 November 2024
Thursday, 7 November 2024
Vision FC coach warns Hearts of Oak as they clash tomorrow(Daily Graphic, Thursday, November 7, 2024 Page 43)
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Determined to secure a victory, Agyemang revealed that Vision FC would employ a new approach specifically tailored to counter Hearts of Oak, signalling a shift from their usual game plans.
Ouattara in Tema
Hearts of Oak’s Ivorian Coach, Aboubakar Ouattara, was spotted observing Vision FC's last match against Aduana FC, likely hoping to gain insights into their tactics. In response, Agyemang expressed confidence that Hearts would face a different side altogether.
"We adapt our strategy based on our opponent. So, while he watched our game, what he'll see on Friday will be entirely different," Agyemang stated, hinting at an unpredictable style that could make it difficult for Hearts to anticipate their moves.
Former Hearts players
Vision FC’s lineup includes former Hearts players like deputy coach Hamza Obeng and striker Issah Akuka Issifu, whose inside knowledge of the Phobians might give Vision FC an edge.
Despite Hearts of Oak’s recent 2-0 win over Medeama, Agyemang remains optimistic about a strong showing from his side.
Currently, Vision FC sits 11th on the league table with 11 points while Hearts of Oak are slightly ahead in 8th place with 12 points. With both teams eager for victory, tomorrow’s clash promises an exciting battle for fans at the Legon Sports Stadium.
Tuesday, 5 November 2024
TDC Ghana Ltd declares GH¢3m dividend to govt (Graphic Business, Tuesday, November5, 2024 Page 8)
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TDC Ghana Ltd has declared a total dividend of GH¢3 million to the government for the 2023 financial year.
The Chairman of the Board of the company, Kofi Brako, announced this at the Fourth Annual General Meeting (AGM) of the company
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The declaration of the dividend follows an impressive financial perfomance, which saw shareholder's fund grow by 19.9% from GH¢378.2 million in 2022 to GH¢453.47 million in 2023.
Return on equity for the same period was 12.1%, compared to 9.9% recorded in 2022.
Mr Brako said he was optimistic that the growth would continue to boost shareholder confidence in the company's performance and prospects for the future.
Urban redevelopment
He said the company's in-filling project at Tema Community 1 site Three was progressing, stressing that phase three of the project designed to provide 40 units of two-bedroom apartments was scheduled to commence soon.
Mr Brako commended the management of TDC for its outstanding performance during the year under review and for winning seven prestigious awards, including the most consistent dividend-paying state-owned enterprise for the year 2023 in the public enterprises league table, as well as the best internal Audit Unit state-owned enterprise category for the year 2023.
Strides
The Managing Director of TDC Ghana Ltd, Alice Abena Ofori-Atta, in a report, said the consistent depreciation of the cedi against major foreign currencies throughout the year remained one of the major constraints to real estate development for property developers and prospective homeowners.
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That notwithstanding, she said the company persevered and sustained transformation and growth in its business operations.
She said TDC currently had several ongoing projects, adding that the pilot phase of the nationwide mortgage financing programme aimed at reducing the housing deficit and providing affordable housing for low-to-middle –to middle-income earners at Community 22 in collaboration with the National Homeownership Fund had been completed.
Ms Ofori-Atta said 405 of such housing units made up of one, two and three-bedroom apartments and townhouses had been completed with works currently ongoing under phase three of that project to deliver a total of 123 two and three-bedroom apartments and six detached three-bedroom townhouses, expected to be completed by December 2024.
She said in line with
TDC’s new mandate of extending to other parts of the country, the
company in collaboration with the National Homeownership Fund, has
initiated the construction of detached houses, roads and infrastructure
at Manya-Jorpanya in the Shai-Osudoku District with the first set of 50
two and four-bedroom houses
expected to be completed in November this year.
Consistency
The Minister of Public Enterprises, Joseph Cudjoe, said TDC Ghana Ltd has consistently proven to be profitable and had thus laid a foundation for a kickoff in the housing sector.
He urged the management of the company to explore opportunities that exist in the capital market by leveraging their expertise to attract private and corporate partners to create wealth.
He also urged the board and management to explore new business lines such as property management and quantity surveying services with the resources and expertise at their disposal to generate more revenue.
Stock exchange
The Acting Director General of the State Interests and Governance Authority (SIGA), John Boadu, commended the TDC for its outstanding performance during the year under review, adding that based on the solid foundations laid by the company, the government was prepared to reduce its stake (shares) to enable the Ghanaian citizens to be part of the TDC’s transformative and excellent performing state-owned enterprise status via the stock exchange.
The Minister of Works and Housing, Kojo Oppong Nkrumah, in a speech read on his behalf by the Chief Director of the ministry, Reverend Stephen Yaw Osei, urged TDC to adopt sustainable building practices by increasing the use of locally sourced materials to help reduce the reliance of imported resources and also open up avenues for accessing green financing, a move that aligns with the national sustainability goals.
Writer’s email: Benjamin.glover@graphic.com.gh
via: https://www.graphic.com.gh/business/business-news/tdc-ghana-ltd-declares-ghc3m-dividend-to-govt.html
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THE Minister of the Interior, Mr Cletus Avoka and the Director General of the Ghana Immigration Service, Mrs Elizabeth Adjei, have jointly c...
