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Saturday 13 August 2022

AngloGold Invests Over One Billion Dollars In Ghana

 Mr Alberto Calderon, the Global Chief Executive Officer of AngloGold Ashanti Ltd, Wednesday said the company had invested more than one billion dollars in Ghana over the past few years.



He said 86 per cent of the investments were retained with registered partner Ghanaian companies, while 98 per cent of its 4,000 employees were Ghanaians.

President Nana Addo Dankwa Akufo-Addo, 2019, re-opened AngloGold’s Obuasi Mine with an initial investment of US$881 million after its shutdown in 2014.

The revamping of the Obuasi Mine has created employment for the indigenes and boosted the local economy.

Mr Calderon announced this when he paid a courtesy call on Mr George Mireku Duker, a Deputy Minister of Lands and Natural Resources in charge of Mines, in Accra, ahead of his meeting with President Akufo-Addo at the Jubilee House.

He said the Mine would continue to invest in its shareholders and local communities hosting its operations to make a difference in the lives of the people.

“We invest in many countries in the world, from Australia, Americas to Africa and I’ve been to many places, and I can say with certainty that the country that welcomes us the most and gives us support is Ghana,” Mr Calderon stated.

Mr Duker, on his part, gave the assurance that the Government would continue to create an enabling environment for the large-scale mining companies to thrive and ensure a win-win situation.

He said the government’s dealing with the large-scale mining companies would be anchored on transparency and accountability by providing the necessary information to them.

He said AngloGold Ghana remained an integral part of the government’s mining drive and would continue to support it.

“The leadership of your men here are doing so well and they have shown quality and competence in the company’s operations,” Mr Duker said.

Source: GNA

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Kenya Elections 2022: Why The Count Is Taking So Long

 Kenyans still do not know who their next president will be more than 48 hours after polls closed.



Election head Wafula Chebukati has urged people to be patient and not to panic that media houses are releasing differing tallies.
Each organisation is making calculations based on its own manual entry of data from more than 46,000 polling stations.
But it is only the electoral commission that can declare the winner.

The media’s tallies show that the two leading candidates – Raila Odinga and William Ruto – are neck and neck.

“There should be no panic about the differences we are seeing on the media screens. The results are from the same public portal; the approach [of each broadcaster] is different,” Mr Chebukati, the chairperson of the Independent Electoral and Boundaries Commission (IEBC), said.

He said at the end of the tallying the results should look “similar”.

Why is it taking so long?

Teams of journalists working for various outlets are engaged in the laborious task of uploading the figures received from each of the polling stations one-by-one. Each media house is doing it a different speed and choosing the polling stations in a different order.

When it comes to the IEBC, on top of compiling the results, officials need to verify each one – another time-consuming task.

Officials are currently comparing the results the commission received in the form of a photograph from the polling stations with the actual results sheet, which is being hand-delivered to the tallying centre in the capital, Nairobi.
This is to ensure that both results match and a key reason why things are taking so long.

Counting in some polling stations was also delayed and travel to Nairobi, especially by agents from far-flung areas, could be further factors in slowing things down.

How are Kenyans feeling?

There is a sense of anxiety in the country as disputed elections in the past have led to violence or the whole process being cancelled.

Following the 2007 vote, at least 1,200 people were killed and 600,000 fled their homes following claims of a stolen election.

In 2017, huge logistical errors led the Supreme Court to annul the result and order the presidential poll to be re-run. Officials are under pressure to get things right this time.

The country often grinds to a halt during elections, activities across the country have slowed and schools remain closed at least until next week on Monday. In Nairobi’s central business district, the usually busy streets are mostly deserted.

Allegations of election rigging are as old as the country. It was part of politics even before multiparty elections were re-introduced in the 1990s, but the push for free and fair elections has never faltered.

After the violence that followed the 2007 election, political parties and activists argued for the use of technology instead of physical registers, which could be easily manipulated, to verify voters.

This year’s election is the third time technology has been used but it has yet to deliver an election that has not been challenged in the courts.

Early reports, however, suggest that the electoral commission may have finally achieve this elusive goal with this election.

When will we know the result?

At the pace of the counting is ongoing, the local media is likely to finish tallying provisional results before the end of Friday.

If there is a clear leader of the race, celebrations are likely to break out.

However, only the electoral commission can declare a winner after comparing and verifying the results.

The electoral commission has seven days after the election day to declare the result.

To win the presidential race in the first round, a candidate needs:

-more than half of all the votes cast across the country

-at least 25% of the votes cast in a minimum of 24 counties.

Otherwise, voting goes to a second round which by law has to happen by 8 September.

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Zimbabwe To Launch Cheaper Gold Coins

 Zimbabwe’s central bank is to introduce lower denominations of gold coins to allow ordinary people to purchase them, according to the state-owned newspaper The Herald.



Last month, the country introduced gold coins priced at the international market rate for an ounce of gold plus 5% for production costs. An ounce of gold is currently worth about $1,795 (£1,500).

Some 4,475 coins have been sold so far, according to the Herald.

The coins were meant to ease the demand for the US dollar and maintain the value of the local currency after annual inflation topped 256% in July.

The local Zimbabwean dollar exchanged at 108.66 to the US dollar at the beginning of the year, but has tumbled to 481.85 to the dollar in August.

Zimbabwe uses two main currencies, the US and the Zimbabwe dollar, but most people prefer to exchange their local dollars for foreign currency to maintain value.

It has caused a shortage of the US currency and driven exchange rates up.

The central bank says that the smaller denominations of coins worth about $180 each will be released in November.

The coins are available to buy at approved banks and are tradeable locally.

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