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Ghana bans export of 2 commodities over food security. But is that enough?

Published

1 year ago

April 12, 2022

In the wake of growing concern about food security globally, Ghana’s Food and Agriculture Ministry has placed a ban on the exportation of soya bean, and maize from the country.

The Ministry said the restrictions are part of measures to ensure food security and increase local poultry and livestock production and revealed that the Plant Protection and Regulatory Services Directorate (PPRSD), has stopped issuing phytosanitary certificates for the export of both commodities.

The Ministry’s Press Secretary, Issah Alhassan explained that the West African country has had challenges meeting its food needs since the outbreak of the global pandemic, Colin-19 in 2020.

“Over the past two years, since the advent of Covid-19, we had to endure a lot of challenges so, in order to ensure that the local demand is met, there was the need to promulgate a law to ensure that any individual that wants to export soybeans from this country has to come for a permit.”

Some countries have been forced to make food policies since the beginning of the ongoing Ukraine/Russia war in February largely because the two countries are major exporters of food, particularly wheat. Recall that slamreportafrica.com reported last month that Egypt’s Prime Minister, Mostafa Madbouly, has announced that the country will diversify its sources of wheat to avoid relying on what he described as “specific sources” for this product.

In Nigeria, Ghana’s West African neighbour, the richest man in Africa and chairman of the Dangote Group, Aliko Dangote of Nigeria, also warned Nigerians to be prepared for an impending food crisis within the next two to three months.

Mr. Dangote, then advised the government to immediately stop the ongoing export of maize abroad by some Nigerians, blaming the development on the ongoing conflict between Russia and Ukraine.

Apart from recent data from the Ghana Statistical Service (GSS) indicating the increasing cost of foodstuff, there have been concerns over a possible food shortage in Ghana.

But how effective can a ban on exportation be in the push to achieve sufficiency in the world today? What if other countries also shut down the exportation of other essential commodities? Who loses?

Related Topics:Featured Ghana Maize Soya bean

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Nigeria’s central bank governor, Godwin Emefiele suspended by President Tinubu

Published

14 hours ago

June 9, 2023

Ifeoluwa Dada

Nigerian president, Bola Tinubu has suspended the country’s central bank governor, Godwin Emefiele.

The office of the Secretary to the Government of the Federation announced the suspension of the Central Bank of Nigeria (CBN) head on Friday evening.

The director of information at the SGF office, Willie Bassey, in a statement, said the suspension was with immediate effect.

The CBN under Emefiele announced new designs of the N200, N500, and N1,000 notes in December. The implementation of the policy was however controversial as it launched an era of cash scarcity which some observers say was targeted at then ruling party’s candidate, Bola Tinubu, and some believe limited his chances.

Tinubu has signalled going in a different direction. During his inauguration speech, he pledged to pursue unification of the exchange rate windows and backed ease of repatriation of funds for foreign investors, policies that have not been favoured by the CBN under Emefiele.

Former president Muhammadu Buhari reappointed Emiefele for a second and final term of five years in 2019. He was appointed by former President Goodluck Jonathan in February 2014, hours after he announced the suspension of his predecessor, Sanusi Lamido.

He was the managing director of top Nigerian bank, Zenith Bank before his appointment .

VenturesNow

Ghana records 32% increase in gold production in 2022

Published

15 hours ago

June 9, 2023

Ifeoluwa Dada

West African country, Ghana has returned to top of gold production on the continent after displacing South Africa following a 32% increase in 2022.

According to the president of the mines chamber, gold output rose to 3.7 million ounces in 2022 from 2.8 million ounces the previous year, as a result of growth in the output of both large and small-scale sectors.

Joshua Mortoti, while addressing members of the Ghana Chamber of Mines at an annual general meeting revealed that “The large-scale gold sub-sector recorded its highest output in the country’s history in 2022.”

He further revealed that the expansion of production at existing mines facilitated the large-scale sector’s gold output up by 13% to 3.1 million ounces last year from 2.7 million ounces in 2021.

Over 77,620 ounces of gold were sold in 2022 under the Domestic Gold Purchase Programme, a scheme launched by the Bank of Ghana to boost reserves.

Mining is a major economic activity in Ghana and a key contributor to the Ghanaian economy. Gold mining accounted for 48.4% of gross merchandise exports in 2020.