By sending money home to relatives to cater for the sick, pay for education, acquire landed property and feed households, Ghanaians living abroad are building and sustaining the country’s economy.

The importance of remittances from Ghanaians abroad can be seen in the fact that it has outstripped even Overseas Development Assistance (ODA) or international aid.

Notwithstanding the fact that international aid is an important source of external finance for the government budget, the amount remitted into the country is above the total amount of  ODA, consisting of loans and grants from donors.

Many of Ghana’s donors having realised that all non-income Millennium Development Goals (MDGs) are likely to be missed, scaled-up their ODA to Ghana in recent years. ODA now accounts for about 42% of the national budget.

In 2009, the Bank of Ghana reports show that remittance inflows amounted to $1.6 billion, higher than the World Bank’s recorded $1.5 billion and almost 10 times the $114 million recorded by the International Monetary Fund (IMF).

There are over 500,000 Ghanaians living in the UK alone, the British High Commission in Accra has said,  and according to the World Bank, there are 111,000 Ghanaians living in the US, making Ghana the fourth country with the highest number of its citizens living in the US after Nigeria, 211,000, Ethiopia, 140,000 and Egypt, 133,000. About 1000 Ghanaian doctors are living and working in the US.

There are Ghanaians living and working almost in every corner of the world in various capacities who send money home to their relatives.

In 2010, remittances or private unrequited transfers (net) in the year amounted to $2.12 billion, the World Bank Ghana Country office told ghanabusinessnews.com. And that amount exceeds the total volume of ODA that the country received in that year.

According to figures provided to ghanabusinessnews.com by the Public Relations Office of the Ministry of Finance and Economic Planning, in 2010 the total amount of ODA the country received was $1.8 billion.

The breakdown as provided by the Ministry is as follows: Grants – $612 million; and Loans  - $1,242 billion.

Remittance receipts in general, according to a joint publication by the World Bank (WB) and the African Development Bank (AfDB) titled, ‘Leveraging Migration for Africa’, generate large benefits for emigrants’ countries of origin.

“At the macro level, remittances tend to be more stable than other sources of foreign exchange; their variation is often countercyclical, helping sustain consumption and investment during downturns; and they improve sovereign creditworthiness, by increasing the level and stability of foreign exchange receipts,” it says.

At the micro level, it adds, both country studies and cross-country analyses have shown that remittances reduce poverty. They also spur spending on health and education, as a result of both higher household incomes and—according to some studies—the devotion of a larger share of remittances than other income sources to these services.

In addition, the study indicates that remittances provide insurance against adverse shocks by diversifying the sources of household income. For example, a recent study finds that Ethiopian households that receive international remittances are less likely than other households to sell their productive assets, such as livestock, to cope with food shortages.

According to the Migrations Factbook 2011, published by the World Bank, the stock of Ghanaian emigrants in 2010 was 824,900 and the stock of emigrants as percentage of population was 3.4%.

And it listed the following countries as top destinations for Ghanaians; Nigeria, Cote d’Ivoire, the US, UK, Burkina Faso, Italy, Togo, Germany, Canada and Liberia.

On skilled emigration for 2000, the Factbook states that the emigration rate of tertiary-educated Ghanaians was 46.9% of the population, 924 or 37.1% of physicians trained in the country, 1,639 or 55.9% of physicians born in the country. The number of nurses that left the country was 4,766 or 24.1% of nurses born in the country.

The WB, AfDB study says many migrants transfer funds to households in origin countries for the purpose of investment. “Data from household surveys reveal that households receiving international remittances from OECD countries have been making productive investments in land purchases, building houses, businesses, improving the farm, agricultural equipment and other investments (36 percent in Burkina Faso, 55 percent in Kenya, 57 percent in Nigeria, 15 percent in Senegal, and 20 percent in Uganda; figure 4.3). Households receiving transfers from other African migrants in other African countries set up small-scale businesses, such as restaurants and beauty salons. They also invest in housing.”

The study also shows that the African diaspora has invested in service sector activities, such as import/export companies, telecommunications, and tourism and transport companies (examples include Databank, in Ghana; Geometric Power Limited, in Nigeria; Teylium, in Senegal; and Celtel, in Sudan).

It cited the results of a survey of 302 returnees conducted in 2001 which indicates that more than half of Ghanaian and 23 percent of Ivorian returnees reported returning with more than $5,000 in savings (Black and Castaldo 2007). Both studies indicate that many return migrants invest in business activity and that work experience and the maintenance of communication with friends and family while abroad facilitates the opening a business upon return.

Cassini (2005) concludes, according to the study, that the most successful Ghana-based businesses of Ghanaian migrants were owned by migrants who visited home frequently and developed social networks.

By Emmanuel K. Dogbevi

Dubbed “Azonto Festival GH and UK”, the event will be hosted first in Ghana [home of the Azonto dance] and later in the United Kingdom. The event aims at creating a platform to market made in Ghana brands culturally through the Azonto dance around the globe.

The Chief Executive Officer of FMG, Mr. Moses Frimpong popularly known as Usher acknowledged the need to celebrate the brand and use the opportunity to promote other local brands to the rest of the world.

“The dance must be officially celebrated to make the world know the dance is really from Ghana and use the medium to promote other Ghanaian brands especially in the country’s tourism industry,” he said.

All around the world, countries host dance festivals as a form of promoting tourism in their respective countries. Countries like France, Italy, Spain, Brazil, China, and South Africa just to mention a few have made good use of dance to promote tourism together with other local brands and it is no surprise that these countries are highly ranked in the World Tourism ranking. Obviously due to the millions of revenues generated from the sector each year.

Organisers are set to launch the event on Friday, May 31 this year at the plush Best Western Premier Hotel, at Airport Residential Area in Accra where the line-up to the program will be made known to the public.

“Azonto Festival GH and Uk” is powered by Flash Mob Ghana – an independent entertainment company that specializes in flash mob dance, event organizing and modeling.

To find out more about this reveling event to hit Ghana and the United Kingdom, visit here AZONTO FESTIVAL

The ground caved in at an abandoned pit near the town of Kyekyewere that was said to be popular with illegal miners.

Rescuers removed 16 bodies after the collapse on Monday, police said. It was unclear how many people had been at the mine, but officials said they did not believe anyone else remained trapped.

Ghana is one of the world’s major gold producers.

The country used to be known as the Gold Coast.

Local official Peter Owusu-Ashia told Reuters that another injured miner later died in hospital. This would take the death toll to 17.

Illegal mining is a major concern in Ghana’s mining areas where operators use sophisticated equipment to process the ore.

“It is an abandoned pit that has attracted a lot of illegal miners,” said Mr Owusu-Ashia.

He added that intense efforts had failed to discourage such activities.

More than 120 Chinese nationals were arrested in Ghana as part of a renewed clampdown against illegal mining in March.

Around 100 people were feared dead after an illegal gold mine collapsed after heavy rain in 2010.

The visit is the last of a three leg African tour, having already visited Benin and Niger.

Ahmadinejad was met on arrival at the Kotoka International Airport at 1730 GMT by Ghana’s President John Mahama.

Joy News’ Presidential correspondent Seth Kwame Boateng confirmed the arrival, adding there will be an official dinner in honour of the Iranian leader later Tuesday at the Banquet Hall.

He is scheduled to meet the Speaker of Parliament Doe Adjaho on Wednesday before holding bilateral discussions with the Ghanaian leader.

The Iranian leader was accompanied by an eight-member delegation.

He is also expected to have a public lecture at the Islamic University College in Accra after which he will lay a wreath at the Kwame Nkrumah Mausoleum.

The water situation we’re facing here is a very difficult problem,” she said as she tended customers at a vegetable store in front of her house in Accra. “It’s just that there is no alternative.”

Ghana’s $35 billion economy, where growth is set to outpace the sub-Saharan African average for a sixth year, has attracted new residents to the capital city with the promise of jobs and education. Many arrivals find Accra’s crumbling infrastructure hasn’t kept up as water shortages routinely leave taps dry.

“Supply cannot meet the increasing demand,” Kweku Botwe, acting managing director of the state-owned Ghana Water Co., said in an interview. “Investment had stagnated so much over the past 40 to 50 years that you’re no more dealing with the urgent situation, but with the emergency.” The company can’t account for 55 percent of the water it produces, he said.

The problem is compounded by a nationwide crisis in electricity production, which the water company needs to operate its treatment plants, and broken equipment that can take months to repair, he said. President John Dramani Mahama said in a speech on March 6 in Accra that the country is “burdened with a major energy and water crisis.”

‘Shining Star’

Marking its 56th anniversary of independence, Mahama said Ghana is seen as “Africa’s shining star.” While other nations were mired in wars, the country “was busy building institutions to reinforce our democracy,” he said.

Ghana’s democratic label is limited to its achievements in political stability, rather than extending to meeting the needs of its people, said Robert Darko Osei, a research fellow at the University of Ghana’s Institute of Statistical, Social and Economic Research.

“A lot more is expected of the nation in the area of providing basic amenities,” he said. The lack of water is forcing manufacturers to cut jobs as they halt production and pay more to get water from sources other than the state utility, Osei said. Neither the electricity nor the water companies are being properly managed by the government, he said.

“Can we say as a nation that we are seriously confronting our water and energy problems?” Osei asked. “I am not sure.”

Human Development

Water issues are at the forefront of challenges facing urban Africa, which will see a 66 percent population increase to 1.2 billion people by 2050, according to the United Nations. The region is underperforming the UN’s Millennium Development Goals on water and sanitation, said Ibrahim Musah, the Accra-based head of policy and partnership at nonprofit WaterAid.

Ghana ranks 135 out of 186 countries on the 2012 UN’s Human Development Index, which measures indicators such as life expectancy, education and income. Ghana places behind countries including Cape Verde, Namibia and Botswana.

Almost a quarter of the city’s population doesn’t get water directly from taps, according to Patrick Apoyah, a consultant with the Accra-based Coalition of NGOs in Water and Sanitation. Nationally, the figure is 37 percent, Botwe said.

Suburban Sprawl

While most Accra neighborhoods that are attached to the utility’s network are supposed to get water pumped in about three times a week, Botwe said poor infrastructure and unreliable electricity keep that from always happening. The pace of growth means that houses are being built in sprawling suburbs like Atter’s neighborhood of Adenta, 20 kilometers (12.4 miles) from the city center, where pipelines don’t reach.

She pays 35 cedis ($18) every three days to fill a water- storage tank at her home. It’s a backup to the well, which runs low during the dry season. Another 2 cedis is paid each day for purified water for drinking, said Atter, who arrived 10 years ago from the Eastern region town of Akosombo.

Tanker-truck water may be contaminated and lead to diseases such as cholera, which killed 31 people in the city last year, Apoyah said.

“You see one tanker that can go and deliver drinking water to households,” he said. “The next trip, it is on its way to carry dam water to a construction site.”

Companies are also using tanker-supplied water. Ayrton Drug Manufacturing Ltd. (AYRTN), a unit of Johannesburg-based Adcock Ingram Holdings Ltd. (AIP), bought 12,000 gallons from tankers in February, said Chief Financial Officer Joseph Yaro Abaah.

“When water doesn’t run for some time we fall on tanker supplies to feed our first factory,” he said. The drug maker operates two factories in Accra.

Early Start

The shortage has been a boon for Hong Kong-based Zoomlion Heavy Industry Science and Technology Co.’s unit in the country, which operates a waste-management service. It has doubled its water-tanker vehicle network to 50 in the first two months of 2013, said Robert Coleman, an Accra-based company spokesman.

“We have demand we’re not able to meet,” he said in an interview last month. Sheila Eduaful, manager for the company’s cabin business, said tanker drivers start work by 4 a.m. each day, two hours earlier than they usually do.

The Ghana Water Co. is working with foreign investors to boost output, Botwe said. Denys NV of Belgium is building a 341 million-euro ($438 million) treatment plant, reservoir and intake pipes at Asutsuare in the Central region, which borders Greater Accra. Befesa Agua Ltd., a Spanish and Ghanaian company, is spending $115 million to desalinate 13 million gallons of water a day at the eastern suburb of Teshie, Botwe said.

A $273 million project to expand the treatment plant at Kpong in the east, with new transmission lines and a booster station, will add 40 million gallons daily to the city’s supply, he said.

Father of Six

Growth in Ghana, which the finance ministry forecasts at 8 percent this year, accelerated after the December 2010 start of oil exports. Suburbs began cropping up in areas far beyond the reach of the water company, Botwe said.

Mohammed Dauda, a driver for a pharmacy in Accra, migrated to the region in 2005 to seek work. The father of six lives in a three-bedroom house with his family and without pipe-borne water, he said in an interview in January.

They use well water for bathing, washing and cooking, spending 2.0 cedis a day on water for drinking in 30 plastic bags that hold 500 milliliters (0.13 gallons) each. Because of a lack of water to simply flush their toilet, Dauda’s family uses a public stall, paying 0.80 cedi per use.

“Without regular flow of water it is difficult to use the water closet; we’d have to buy Poly Tank water at these times that the well is not flowing,” said Dauda, 48, using the common brand name for plastic water-storage containers. “We are not happy with using well water for cooking because you can’t guarantee it’s kept from pollutants. I wish we had money like the rich in this area to depend solely on Poly Tank water.”

Women, Children

Lack of water in Accra affects women and children most, Musah said. At Nima, Chorkor and Mamobi, all suburbs of the city where most households are not connected to the utility, they wake up early in the morning and can take an hour to fetch water for the family.

“The children are late for school and it affects their performance,” he said. Women who prepare food for a living may struggle to be ready for their customers. “That means her livelihood is affected; if she has children then there is difficulty looking after them.”

Governments in Africa need to increase investment and build up the capacity of water companies with more staff and equipment, Musah said. Urban planning also should factor in utilities, Apoyah said.

“Water should always go ahead of residential and infrastructural development,” he said. “The areas that we are yet to even build, at the outskirts, water extension should have been there. The current situation where growth is leading the supply of water is not the best.”

To contact the reporter on this story: Moses Mozart Dzawu in Accra atmdzawu@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin atasguazzin@bloomberg.net

About African Fashion Week

African Fashion Week Toronto is a platform for existing and emerging designers inspired by African culture and design. AFWT is designed to attract, entertain, and educate an audience on everything African.

AFWT will define style, class, music, and arts, along with our mission to merge the prestigious fashion industry with some of the top elite designers influenced by the African culture and the community at large. AFWT have planned a series of city-wide events that will enhance diversity, public awareness, image and involvement of African Fashion within our local, national and international communities.

The African population is one of the largest and fastest growing demographics in Canada especially within Ontario. The influence of African culture (fashion, art, music and food) can been seen in many mainstream brands and we feel that Toronto is the natural next step in this progression given the growing popularity of African focused festivals in the heart of this city.

Schedule of Events

The anticipated schedule for this annual event will include:

 Fierce runway shows

 Student Design competitions

 Hands-on workshops

 Informative seminars (presented by www.africafashionguide.com)

 Fanciful exhibits & Multicultural vendors

 Festive meet-n-greet parties

AFWT will play host to local and international celebrities, presenters, top models, entertainers and most importantly the existing and emerging designers from Canada and around the world. African Fashion Week Toronto will leave an indelible impression on every one who attends.

For more information, contact Anita Aboagye at:

647 608 2523, 647 622 8973

www.afwt.ca

https://www.facebook.com/AFRIFASHWEEKTDOT

http://instagram.com/africanfashionweek

https://twitter.com/africanfashweek

According to Ghana Business News, 18 percent of the retailers surveyed identified South Africa as their first choice among African countries they could expand operations.

“Ghana and Kenya were the second and third choices with 6 percent and 4 percent respectively,” Barclays Bank said.

The sampled British retailers indicated “Africa’s burgeoning middle class followed by the take up of mobile technology” as the reason for their interest in the continent.

Richard Lowe, Head of Retail & Wholesale at Barclays, said “Many of the trends which have driven the economic development of emerging economies in Asia and South America are beginning to take hold in Africa. Its rapidly expanding middle class increasingly need goods and services which cannot be catered for domestically, providing a golden opportunity for internationally-minded retailers. This is a truly ‘ground floor’ moment in many African economies.”

The acquisition of South Africa-based Massmart, Africa’s largest wholesaler, by American giant Walmart, proves the seriousness with which global retailers are now taking the continent.

The report by Barclays Bank stated: “Nearly a quarter of retailers surveyed stated that Africa will be the new retail growth story within a decade, with first mover advantage (33 percent) considered to be the most important consideration when expanding.”

The research showed that only 21 percent of retailers interviewed said they currently generate sales on the continent, adding “of those which do, more than half (53 percent) say South Africa is their top market.”

It also listed Chad, Congo, Morocco and Nigeria, as other African markets which currently provide revenues for British retailers.

source: http://www.ventures-africa.com

Africa Fashion Week London 2013 will see over 100 African designers and exhibitors showcasing their designs at the event, taking place in the impressive Truman Brewery space, just off Brick Lane. This years’ AFWL is set to be bigger and better than ever, and will be the largest fashion event in Europe dedicated to African and African-inspired fashion. Organisers are expecting over 25,000 people to attend the event over the course of the three days.

Menaye, who made her debut as AFWL Ambassador at last year’s event, won the Miss Universe Ghana pageant back in 2004. She has since used her international profile to back many causes close to her heart, including supporting talent from the world of fashion in her home country of Ghana and throughout Africa.

Throughout her own modelling career, Menaye has walked catwalks and featured in magazines from North America, Europe and Africa, including in publications such as Vogue, Vanity Fair and Maxim. She continues to use her attendance at high profile events around the world to champion designs both inspired by and made in Africa.

On her appointment as AFWL Ambassador 2013, Menaye said:

“I am so excited to be chosen as an ambassador for the African Fashion Week London for a second year running and know that it will be the biggest and brightest showcase of the beautiful fashion from our continent to date! Fashion has given us all the opportunity to share our different cultures and styles with the rest of the world and this year I am looking forward to seeing bold and original designs that really define the spirit and creativity of Africa.” Menaye, who is married to AC Milan and Ghana Black Stars footballer, Sulley Muntari, also runs the Menaye Charity Organisation which provides hundreds of children in her native Ghana with access to free, quality education. Both Sulley and Menaye also support several other education, arts and sports programmes throughout Ghana, the UK and Italy.

Ronke Ademiluyi, the founder and CEO of AFWL welcomed Menaye Donkor Muntari back to AFWL with these words:

“We are delighted to welcome back Menaye as an ambassador for AFWL 2013. Not only a glamorous role model for young African women, Menaye is also a proud champion of African fashion and an inspiration philantrophist. We truly appreciate having her as an ambassador for the second year running and look forward to working with her towards the success of our event.”

Menaye Donkor Muntari will be working closely with Regina Manneh, The Face of Africa Fashion Week London 2013, ahead of the event With Mrs. Fifi Ejindu, the Nigeria-­‐based architect and businesswoman and Yinka Shonibare MBE, the London-­‐based globally celebrated Nigerian fine artist as patrons, this year’s event once again promises to be a huge success.

With still a few spaces left for runway and exhibition space, Africa Fashion Week London 2013 is accepting applications from designers who wish to showcase on the runway and/or exhibit their merchandise over the three-day exhibition.