Zain Communications Network, a mobile communications company, has donated GHc 2,500.00 to the Dakpema Educational Fund in Tamale. The Company also donated assorted Zain products to the Dakpema Traditional Council.

The donation is to support the Dakpema (Chief of Tamale) to award scholarship to brilliant but needy students in the community.

Mr. Philip Sowah, Country Director of Zain Communications said the donation formed part of the company's "Build our nations programme", which was a vital part of its corporate social responsibility programme. He said one of the core objectives of the Company was to create a sense of belonging with the people it served, adding that, it was as a result of this that, the Company had adopted a grassroots approach to developing education, health, arts and culture in the country.

He said Zain had recently added its ground breaking borderless one network service to the "wonderful world" it had already created for its subscribers.

Na Mohammed Alhassan Dawuni, the Dakpema, stressed the importance of education and said it was for this reason that he established the education fund to support brilliant but needy students. He said, he however realized that there could be no meaningful education in an environment without peace, and had therefore initiated a peace process to bring the youth together to promote peace in the Tamale Metropolis.

He commended Zain for its commitment to the development of education in the country and called on other organizations to emulate the example.

Oil Palm industry calls for palm fruit price fixing

Mr Fiifi Ampong, Secretary and Public Relations Officer of the Benso, Adum Banso, Benso Oil Palm Plantation (BOPP) Smallholders' Association (BABBSA), has appealed to the government to establish a board to fix the price for palm fruits.

Speaking at BABBSA's Annual General Meeting last weekend, he said this would enable farmers to get what is due them financially. Mr Ampong said there was no standard price for palm fruits and companies bought fruits at different prices and sometimes at a loss to farmers who have invested so much into growing the fruits.

He said the board should be tasked to review the price of palm fruits annually to bring it in line with the international price of the commodity. Mr Ampong also appealed to the government to subsidize the price of fertilizers to enable farmers to increase their yield.

AngloGold Ashanti Advocates Responsible Partnership

Ghana's biggest gold produce, AngloGold Ashanti, with an annual average output of 550,000 ounces from its two operating mines is putting in place new strategies that have been informed by mistakes and lessons from the past to ensure a more mutually beneficial future for the country and the company.

This was disclosed by the CEO of AngloGold Ashanti, Mr. Mark Cutifani at the first of a series of annual lectures on business in Africa , a collaboration between the Institute of African Studies in Legon and AngloGold Ashanti.

According to him, even though companies competing for and seeking to develop Ghana's natural resources must deliver a model that supports the development of Ghanaians, there was the need for African governments to provide an environment where businesses can invest in confidence.

In a presentation titled The Role Of The Mineral Industry In The Economic Development Of Africa, Pathway To A Better Model, Mr. Cutifani said AngloGold Ashanti 'acknowledges that we have not been good listeners with respect to Ghana, its traditions and its way of doing business.' He explained that his company had previously managed its businesses through government structures and was currently looking to work through traditional leadership as well.

He said that AngloGold Ashanti and other mining companies would contribute more to the development of their host countries through a willingness to accommodate flexible revenue models, particularly when commodity prices exceed the scope of revenue resource models.

ECOBANK Ghana guarantees letters of credit

ECOBANK Ghana Limited has raised letters of credit (LC) worth $54 million to enable the Tema Oil Refinery take delivery of 997, 000 barrels of crude oil for refining in Ghana.

This follows intense negotiations with Sahara Energy in Nigeria, who after conveying crude to the Tema Harbour was waiting for the LC that will serve as guarantee that Ghana will pay for the delivery of the crude oil. The LCs will cover more than 80% of the cargo that has been brought.

For the LCs to be provided, Tema Oil Refinery had to put its documents in order; this was after the Ghana Commercial Bank had failed to raise the LCs. Also, the refinery is also indebted to the Bank to the tune of $600 million. As such, after discussions between the ECOBANK Ghana, and the Ministries of Finance and Economic Planning, and Energy ECOBANK Ghana has now agreed to provide the LCs.

ECOBANK Ghana and its parent company, ECOBANK Development Corporation, were in June this year contracted by the government to restructure Tema Oil Refinery's debt to enable it commence regular operations.