Ghana Pundit: Korean firm announces plans to build ships in Ghana

Friday, May 14, 2010

Korean firm announces plans to build ships in Ghana

Works and Housing Minister Alban Bagbin

Works and Housing Minister Alban Bagbin

STX Engineering, the Korean Company contracted by government to undertake a multibillion dollar housing project in the country later this year says it intends to venture into other areas.

Its Group Chief Executive D. S. Kang who is on a visit to the country told newsmen after a meeting with the Housing Minister, that they intend to make Ghana the economic Mecca of Africa by investing in a multi-purpose industrial complex that would include cement and steel manufacturing plants, a power generation facility and a technology-training center.

STX, which is also the world’s fourth biggest shipbuilder, also aims to construct ships and platforms for oil exploration companies.

Speaking through an interpreter, the STX boss said the company intends to establish the foundation for industrial infrastructure in the country.

Vice President John Mahama has been to Korea with members of the Minority in Parliament to seal the housing deal estimated at over 200 billion dollars.

Parliament has deferred the agreement after its Select Committee on Finance was unable to complete work on it during the recent recall from recess.

Works and Housing Minister Alban Bagbin however told the visiting STX delegation the bipartisan interest in the project is enough guarantee that the company’s investment is secured.

STX will construct 200 thousand Public Housing Units and 300 luxury pieces for government officials. More than fifty thousand of the homes will be sold directly by government while HFC Bank will mortgage the rest. It is expected that the project will create about 400 thousand jobs.

Source: Joy Business/Myjoyonline.com

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Join Africa for Democracy Now!!!

http://www.causes.com/causes/288492-africa-for-democracy

The people of Tunisia, Egypt, Libya, Djibouti, Cameroon, Gabon are demanding democracy, rule of law and jobs from their leaders. Since January protests have rocked North African states of Tunisia, Egypt and now Libya. Similar protests have also taken place in Cameroon and Gabon.

The protesters have embraced jet fighters, helicopter gunships, armoured carrier assaults, water cannons, tear gas and camel charge. Thousands have died and tens of thousands have been injured. We cannot watch quietly while a part of humanity is being brutalised. The people of Libya, Cameroon and Gabon need our support. They need our prayers,and our encouragement. Our silence means victory for the totalitarian regimes. Let's us support them. This is the time and opportunity to make a difference. Raise your voice against injustice, oppression and dictatorship. Let us support them Now!!!. Join and invite your friends to join.

http://www.causes.com/causes/288492-africa-for-democracy

A message to the Thieves & Tyrants in Africa

HAVE YOU HEARD OF AFRICOM?

WELL, LIKE COLONIALISM AND IMPERIALISM, AFRICOM IS THE NEW UNITED STATES MILITARY PROJECT THAT SEEKS TO ESTABLISH MILITARY BASES ACROSS AFRICA WITH THE SOLE PURPOSE OF SECURING AFRICA'S RESOURCES FOR THE BENEFIT OF US CONSUMERS.

The Question is : Have Africans fail to appreciate sufficiently the bitter pill they swallowed under colonialism? Have Africans forgotten so soon the human and societal damage wreaked on them by Europeans through centuries of slavery, genocide, economic exploitation, cultural manipulation and political domination? Lord A. Adusei

African money stolen so far

Africa has lost $140 billion through corruption in the decades since independence, says Nigeria’s president, Olusegun Obasanjo. The huge sum, largely spirited away by leaders and their associates, was one of the main reasons why Africa’s poverty was so severe.

(BBC News, June 13, 2002)

In May 1997, the French Weekly Newspaper published these stolen assets of African rulers: General Sani Abaca of Nigeria, 120 billion FF (or $20 billion); former Ivorian President H. Boigny, 35 billion FF (or $ 6 billion); General Ibrahim Babangida of Nigeria, 30 billion FF (or $ 5 billion); the late President Mobutu of Zaire, 22 billion FF (or $ 4 billion); President Mousa Traore of Mali, 10.8 billion FF (or $ 2 billion).

Other names mentioned by the French Weekly were President Henri Bedie of Ivory Coast, 2 billion FF (or $300 million); President Denis N'guesso of Congo, 1.2 billion FF (or $200 million); President Omar Bongo of Gabon, 0.5 billion FF (or $ $80 million); President Paul Biya of Cameroon, 450 million FF (or $70 million); President Haile Mariam of Ethiopia, 200 million FF (or $30 million); and President Hissene Habre of Chad,20 million FF (or $3 million). Bear in mind that this list does not reflect the actual amount of money stolen out of Africa by these dictators. Factually, the mentioned figures had changed significantly since the French Weekly article was published in 1997. There are now new African billionaires and millionaires, including indicted former Liberian President Charles Taylor, President Gabassinga Eyadema of Togo, former Liberian Warlord Alhaji Kromah, former Ghanaian dictator Jerry J. Rawlings, and the late President Samuel Doe of Liberia; a host of African government ministers would make an updated list. While returning funds stolen out of Africa is the right thing to do, efforts must be made by the West and responsible African governments {i.e. the government of Botswana, etc.} to alter international banking laws that will make it difficult for Africa's government officials and corrupt business personalities to transfer huge funds into western banks. The measure was first proposed following the September 11, 2001 attacks but was rebuffed
by western financial institutions. Again, we need to revisit this issue: the terrorists could use the thieves in Africa's government Ministries to transfer money into western bank accounts—the money could be used at a later time for terrorists' activities.

(Paul Japheth Sunwabe) Paul Japheth Sunwabe (a native of Liberia) is a graduate student of World Politics at The Catholic University of America. He is also the co-founder and President of Freedom and International Justice, a Washington DC based inclusive political organization seeking democracy, social justice and economic reforms in Africa. For this and subsequent articles, please visit www.freedomjusticef54.org/articles/

A major shift in funding development in Africa is accelerating. Major donors have been urging African governments to eradicate corruption or face cuts in aid. (African Recovery, by Sam Chege)

Despite the country’s abundant natural resources, including copper, gold and diamonds, the people of the Democratic Republic of Congo continue to sink further into poverty. Meanwhile, Mobutu, the late president who died in 1997, amassed a personal fortune of $5 billion, which was deposited in Swiss banks. (CNN world news, September 7, 1997). After more than three years of legal wrangling, the Nigerian government has finally achieved a major breakthrough in it’s efforts to recoup a substantial amount of money looted by the former president, General Sani Abacha. The money was stored in Swiss bank accounts. Abacha, who died of an apparent heart attack in 1998, had been accused of stealing nearly $3 billion from state funds in a series of staggering revelations of how he and his immediate family personalized Nigeria’s treasury. (This DAY, May 30, 2002)

An excellent way to get rich quick is to be the ex-wife of an ex-president. This is what Mrs. Vera Chiluba is claiming from ex president Chiluba in her application to Ndola High Court: She wants US$2.5 billion in a lump sum, and claims she can prove he has the funds available. She also requires maintenance for their nine children, none of whom are in gainful employment. She also needs a share in 6 properties in Ndola and a commercial farm in Chi samba. Also she needs a new executive Mercedes Benz 500 (or 600), a new Land Cruiser, a new Nissan Patrol, drivers as well and a court order for the return of 400 cattle, sheep and goats which are still at State Lodge.This was taken from the Zambia Post and was also reported in The Zambia Society Newsletter compiled by the glamorous Maggie Currie. Are African presidents the only ones so clever in accumulating wealth so quickly? Even ex president Marcos of the Philippines didn’t get hold of such huge amounts in such a short time. (Elias Georgopoullos, Saturday, April 27, 2002 at 12:52:22 PDT)

The French journal, ‘L’Evenement du jeudi published an article stating that the president of Cameroon, Paul Biya, is worth more than $45 billion FCA, money gleaned from the sales of petroleum. Mr. Biya has not refuted these claims.(Post watch Fact File report by Ntemfac Ofeae, undated).

The late president Mobutu of the Democratic Republic of Congo holds the record for financial plunder and national ruin. It is estimated that he stole $4 billion, leaving the country poorer than he found it, with ruined infrastructure and no formal economy to speak of. A close second to Mobutu is the late dictator of Nigeria, Sani Abacha, whose rule left 70 percent of Nigeria’s 120 million people living on less than one dollar per day. In Kenya, the Daniel Arap Moi dictatorship must be given credit for the systematic destruction of what used to be Africa’s economic showcase from the 1960s through the 70s. The authoritative Africa Confidential put Moi’s external bank holdings at $3 billion. In the so-called Goldenberg scandal, the Moi regime bolted with an estimated $1 biliion from its own central bank (12 percent of the national’s GDP), setting off a spiral of inflation, economic stagnation, unemployment, crime, ruined agricultural sector and decaying public services. (Testimony on the social and political costs of the theft of public funds by African Dictators: US House of Representatives Committee on Financial Services by Michael Chege, University of Florida, May 9, 2002)

Recent surveys carried out by the World Bank in a series of developing countries to compare budget allocations to actual spending at the facility level have confirmed that resources are not allocated according to underlying budget decision. In Uganda and Tanzania, large parts of funds were diverted elsewhere or for private gain. (U4 Utstein Anti corruption resource website) Peter Machungwa, Home Affairs Minister, Godden Mandandi, Works and supply Minister were arrested on Tuesday night in connection with the disappearance of $2 billion in government funds.(Business Day, October 24, 2002) Paul Tembo, former deputy minister of Finance, was shot dead in his home hours before testifying in corruption trial of three cabinet ministers. (BBC News, July 9, 2001). Zambian police and politicians have been identified to be the worst corrupt elements in the country. (AllAfrica.com, March 1, 2001)

SOURC :TRACEAID

ARCHIVE: 2006 - 2004 CORRUPTION BRIEFS

Africa Stolen Assets in Western Banks

For example, in 1997, the French Weekly Newspaper published these stolen assets of African rulers: General Sani Abaca of Nigeria, 120 billion FF (or $20 billion); former Ivorian President H. Boigny, 35 billion FF (or $ 6 billion); General Ibrahim Babangida of Nigeria, 30 billion FF (or $ 5 billion); the late President Mobutu of Zaire, 22 billion FF (or $ 4 billion); President Mousa Traore of Mali, 10.8 billion FF (or $ 2 billion).

Other names mentioned by the French Weekly were President Henri Bedie of Ivory Coast, 2 billion FF (or 300 million); President Denis N'guesso of Congo, 1.2 billion FF (or 200 million); President Omar Bongo of Gabon, 0.5 billion FF (or $ $80 million); President Paul Biya of Cameroon, 450 million FF (or $70 million); President Haile Mariam of Ethiopia, 200 million FF (or $30 million); and President Hissene Habre of Chad, 20 million FF (or $3 million). Bear in mind that this list does not reflect the actual amount of money stolen out of Africa by these dictators. Factually, the mentioned figures had changed significantly since the French Weekly article was published in 1997. There are now new African billionaires and millionaires, including indicted former Liberian President Charles Taylor, President Gabassinga Eyadema of Togo, former Liberian Warlord Alhaji Kromah, former Ghanaian dictator Jerry J. Rawlings, and the late President Samuel Doe of Liberia; a host of African government ministers would make an updated list. While returning funds stolen out of Africa is the right thing to do, efforts must be made by the West and responsible African governments {i.e. the government of Botswana, etc.} to alter international banking laws that will make it difficult for Africa's government officials and corrupt business personalities to transfer huge funds into western banks. The measure was first proposed following the September 11, 2001 attacks but was rebuffed by western financial institutions. Again, we need to revisit this issue: the terrorists could use the thieves in Africa's government Ministries to transfer money into western bank accounts—the money could be used at a later time for terrorists' activities

Arap Moi's Loots

The Kroll report revealed an intricate network of companies that were used to transfer billions of shillings to foreign countries like the United Kingdom, Australia, Switzerland, the Cayman Islands and Brunei among other countries using shell companies and dummy trusts registered in safe havens. The report also revealed the individuals and wealthy families who were behind the siphoning of enormous amounts of money out of the country and the banks that were involved. The Kroll report described in detail the assets owned by various politically connected families and individuals in a total of 28 countries across the world including hotels and residences in South Africa and the United States, a 10 000 ha ranch in Australia,3 hotels in London, a 4million pound house in Surrey and a 2million pound penthouse flat in Knightsbridge

Mother Ghana

I love Ghana, my mother land. Ghana is my only home. I must protect its people, its culture, its peace, its economy and its democracy and our children's children so that future generations will live to enjoy every aspect of the country.

Yes there are many tribes, languages, dialects and cultures but we are all Ghanaians. There is no tribe but Ghana. There is no political party but Ghana. Peace and unity is what we need to build the country. Politicians and political parties will come and go but Ghana will remain. So if we build it well today, our children will live to bless us. Together we stand divided we fall.

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