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Inside May 28, 2018 .qxp_Layout 1 5/24/18 9:26 PM Page 7 24TH MAY 2018 THURSDAY CURRENCY PARIS CODE BUYING SELLING US Dollar USDGHS 4.4149 4.4193 RATES Pound Sterling GBPGHS 5.9107 5.9183 Euro GBPGHS 5.1843 5.1888 10 DAILY HERITAGE MONDAY, MAY 28, 2018 WWW.DAILYHERITAGE.COM.GH Ghanaians show low interest in GHEITI reports BY ROSEMOND BOATENG ADDAI rosemond.adjetey@yahoo.com MEMBERS OF the Ghana Extractive Industries Transparency Initiative (GHEITI) have expressed worry about the level of interest that Ghanaians show in their reports when published. Dr Steve Manteaw, Co-Founder for GHEITI, in his presentation at a two-day workshop organised by German Development Corporation (GTZ)in collaboration with GHEITI and Institute of Financial and Economic Journalists (IFEJ), most Ghanaians were ignorant about the activities of GHEITI, a situation he described as worrying. He blamed the cause of low interest in GHEITI on its failure in publishing the report in two years because of donors’ inability to release funds on time and also political influence in the 2016 election. He urged journalists to continuously enlighten Ghanaians more on the extractive industry in order to update them on how the monies are used in the development of the country. Dr Manteaw, highlighting on the 2016 EITI validation of Ghana EITI, said its purpose was to assess performance, and promote dialogue and learning at the country level. “Identify opportunities for mainstreaming EITI implementation in government systems and informing public debate; safeguard the integrity of the EITI by holding all EITI implementing countries to the same global standard,” he said. He added that the EITI Board agreed on a schedule to assess all countries against the 2016 Standard by January 2019. He said 11 validations, including Ghana, began in 2016 and the first validation which was held in Azerbaijan was finalized in October 2016. Mr Kweku Boa-Amponsem, Co- Manager of Boas and Associates, in his presentation, explained that EITI is an international initiative among governments, companies and civil society groups to promote transparency in the flow of revenues from extractive companies to host country government based on a set of criteria for transparent reporting on the revenue streams and other benefits. He said the purpose of the initiative is to encourage greater transparency in the extractive sector and would enable citizens to make informed demands for the fair and sustainable use of revenues generated through the exploitation of natural resources. “The EITI requires implementing countries to prepare and publish an annual report disclosing company payments and government revenues from the extractive sector. Mr Boa-Amponsem pointed out that the report covers an overview of the mining sector in Ghana in terms of exploration, production • A section of IFEJ members at the workshop and exports; beneficial ownership; contract transparency; state participation in the extractive sector; revenue collection, including reconciliation and allocation; social and economic spending; and the outcomes and impact of the EITI in Ghana. Giving the overview of the mining industry in Ghana, the manager said Ghana is endowed with substantial mineral resources and has a well established mining sector, which has grown considerably in recent years to represent an important pillar of the Ghanaian economy. He added that the country has large-scale mining companies producing gold, diamonds, bauxite and manganese. “ The mining sector contributed GH¢1.24billion of the country Gross Domestic Product and minerals make up 31% total exports, of which gold contributes about 96% of the total mineral exports in 2015. Gold remains the leading mineral in revenue generation,” he said. He said in 2015, a total of GH¢485.63 million was paid as minerals royalties, which represents a 3.24% increase over the 2014 value of GH¢470.37 million. For observation of the mining sector, the manager said some revenue streams found in the Ghana Revenue Authority (GRA) database, including capital gains tax inspection fee, management and technical services, registration fees, other royalties gift tax, dividend tax, interest tax commission tax, rent tax, penalties, airport tax and N.F.S.L/N.R.L (arrears), were in aggregated format and were therefore excluded in determining materiality threshold for reporting entities. Mr Boa-Amponsem, in his observations on oil and gas, said as at December 31, 2015, a total amount of US$69.61million was outstanding to be paid into the Petroleum Holding Fund. He explained that of the total amount, US$ 68.96 million represents amounts due from the Ghana Gas Company Limited for gas sold to them by Ghana National Petroleum Corporation (GNPC) and US$650,127 surface rental fees unpaid by various entities. He added that distributions of the relevant portions of petroleum revenue to GNPC for the 28th and 29th liftings were made more than three working days after receipts of the petroleum revenue into Petroleum Holdings Fund in contravention of the requirements of Act 893. Recommendations He recommended that the government needed to review the policy of acquiring a non-contributory shareholding in all mining enterprises, if the purpose for instituting that measure was to earn extra income; which may be replaced with a more reliable source of revenue. He added that all payments should be attributed correctly in order to facilitate matching of payments to the appropriate companies. “This will also assist in ensuring the materiality determinations are properly made, as all the extractive entities will have the full complement of their payments,” he advised. Mr Boa-Amponsem advised that GRA data base system should be designed to ensure that any revenue stream could be provided in disaggregated format and also for specific sector of the economy. He said, “This will assist in effectively analyzing the revenues obtained by the government.” For the oil and gas, the manager advised that more monies assessed as due to the petroleum funds be promptly collected and any late payments should attract interest as stipulated by section 3(4) of the PRMA. He also said the distribution of petroleum revenue be made in accordance with the provisions contained in Act 893.
Inside May 28, 2018 .qxp_Layout 1 5/24/18 9:26 PM Page 8 WWW.DAILYHERITAGE.COM.GH DAILY HERITAGE MONDAY, MAY 28, 2018 11 Politics Do not mind anything that anyone tells you about anyone else. Judge everyone and everything for yourself —Henry James AU Day: prioritise implementation of ACDEG to enhance fight against corruption BY MFWA MAY 25 of every year is observed as African Union (AU) day. It is a day set aside to commemorate the formation of the Organisation of African Unity (OAU), which was later replaced by the AU. The theme for this year’s celebration is ‘Winning the Fight against Corruption: A Sustainable Path to Africa’s Transformation.’ Corruption in Africa, as observed by the 2016 African Governance Report IV, is one of the major impediments to structural transformation on the continent. The report identifies weak governance structure and institutions as one of the main determinants of corruption on the continent and thus threatening prospects for positive outcomes of transformation. According to the 2018 Corruption Perception Index by Transparency International, African countries are among the top 10 most corrupt countries in the world with Somalia leading in the ranking. The index suggests a direct correlation between the abject levels of poverty and the high prevalence of corruption. This reality is a flagrant contradiction with the ideals espoused in the African Charter on Democracy, Elections and Governance (ACDEG). The Charter as a road map for the promotion of good governance on the continent enjoins State Parties to institutionalise good economic and corporate governance through the prevention and combating of corruption and related offences among other things (Article 33 Clause 3). As the continent marks AU day today, the 14-member consortium of Civil Society Organisations working to create awareness and empower citizens to demand for implementation of the ACDEG calls on governments on the continent to prioritise the implementation of the ACDEG as part of efforts to ensure good governance. The consortium also urges the media in Africa to join the crusade in creating awareness and popularising the ACDEG among African citizens to empower them to demand good governance practices on the continent. The 14 consortium of Civil Society Organisations is made up of ActionAid Ghana, ActionAid Nigeria, ActionAid Sierra Leone, ActionAid Zambia, ActionAid Zimbabwe, ActionAid Tanzania, ActionAid Uganda, ActionAid Mozambique, and ActionAid Denmark. The others are Media Foundation for West Africa, Mass Public Opinion Institute, West African Civil Society Forum, East African Civil Society Organisations' Forum and SADC Council of Non-Governmental Organisation (SADC – CNGO). The project, ‘Mobilising Civil Society Support for Implementation of the African Governance Architecture’ is being implemented with funding support from the European Commission. Minority not involved in $89m Kelni GVG deal — Haruna Iddrisu BY KENT MENSAH THE MINORITY Leader Haruna Iddrisu has distanced himself from any negotiation or transaction leading to the $89 million Kelni GVG deal with the Ministry of Communication. The MP for Tamale South also stressed none of his charges has been part of the deal following a report by Starrfmonline.com that a top opposition MP is behind the controversial deal. Policy think-tank IMANI Africa has been at the forefront campaigning against the deal, arguing the contract which was signed on December 27, 2017 is a duplication of jobs and a needless drain on the country’s scarce resources. The Communication Ministry whose minister Mrs Ursula Owusu-Ekuful is under pressure to •Haruna Iddrisu, MP and Minority Leader step aside for investigation into the issue has rebuffed IMANI’s claims, saying the contract is giving tax payers value for money. Reacting to the story in a statement, Mr. Iddrisu said: “I wish to state for the records that neither myself as the “Minority Leader nor any of my colleagues on the Minority” work with or for the Ministry of Communications nor the National Communications Authority. We have also not been part of any negotiation or transaction with Kelni GVG as being reported.” Below is the full statement: My attention has been drawn to a story making the rounds on Ghanaweb.com and attributed to Starrfmonlinc.com with the headline “Top Opposition MP behind $89M Kelni GVG deal. I wish to state for the records that neither myself as the “Minority Leader nor any of my colleagues on the Minority” work with or for the Ministry of Communications nor the National Communications Authority. We have also not been part of any negotiation or transaction with Kelni GVG as being reported. The public should ignore the malicious story as palpable falsehood and a wicked diversionary attempt to damage our hard earned reputations. The government should take full responsibility for the actions on the contract. We would not accept any attempt to smear us by the publishers and demand an immediate retraction and apology. We have also instructed our lawyers to take the necessary action if the publishers fail to do the needful.
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May 28

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