Ghana Trade - Official SME Product Portal and Web Gallery

News

Digital Property Address System Goes Live Wednesday

The national digital Property Address System, which is expected to make it easier to find locations in the country and boost emergency service delivery, will be launched on Wednesday, October 18, 2017. It is also to aid government policies, planning and offer accurate data for service delivery.

Vokacom, a Ghanaian information technology firm, designed the system and it is partnering the Ghana Post Company Limited to roll it out, with the National Information Technology Agency (NITA), expected to host the data.

The system

The system is location-based and it is expected to provide an effective means of addressing every location and place in the country, including undeveloped parcels of land, using an information technology application (app).

The app will generate a unique code for every property or location in Ghana, using the Global Positioning System (GPS) technology.

A national address registry will be imbedded into the system to enable individuals to validate their home and business addresses for easy direction and identification purposes.

Launch

President Nana Addo Dankwa Akufo-Addo and Vice-President Mahamudu Bawumia are expected to grace the launch of the system, a precursor to the National Identification Authority’s Ghana card, a national identification card.

The system will be a major turnaround for a country that was last mapped in 1974 and lacks an efficient addressing system which has become a serious impediment to development and planning.

The Land Administration Project (LAP), which began in 2003, has been able to map only 10 per cent of the country’s landmass.

Benefits

The Chief Commercial Officer of Ghana Post, Mr Jonathan Ansah, said the digital address system would bring the needed change that would be of enormous benefit to the Ghanaian economy.

“It is expected that everything we do, going forward, will change and it will create more opportunities for the youth who are technologically savvy,” he said.

With the snail mail service such as Ghana Post facing stiff competition from the Internet, Mr Ansah said the new system was a “new opportunity for us to grow our business and also be efficient and productive.”

“The letter box is becoming irrelevant. There are many youth today who do not care if the post office exists or not but this system allows Ghana Post to interact directly with the consumer at his or her convenience and location.

“With our e-commerce platform, website that has online shopping modules, all you need to do is to shop and enter your digital address there, and we know exactly where to drop the parcel at your doorstep and convenience,” he explained.

The future

Mr Ansah said in future, state institutions, including the NIA, Social Security and National Insurance Trust (SSNIT), the Driver and Vehicle Licensing Authority (DVLA) and other institutions that dealt with public data would have to synchronise and use one database owned by Ghana Post.

Background

Vice-President Bawumia in February this year announced the government’s determination to have a digital property addressing system, as well as a national identification system by the end of the year.

One minute read

The national digital Property Address System is expected to be available for public use on Wednesday, October 18, 2017 when the President, Nana Addo Dankwa Akufo-Addo, launches it in Accra.

Designed by VOKACOM, a Ghanaian firm, and deployed in partnership with the Ghana Post Company Ltd and the National Information Technology Agency (NITA), the system would make it easier to find locations across the country and facilitate the work of emergency services.

We Are Optimistic About Achieving Economic Targets - Oppong Nkrumah

The government is on the path to achieving an ambitious gross domestic product (GDP) growth of 6.3 per cent and reducing the fiscal deficit to 6.5 per cent despite revenue shortfalls.

A Deputy Minister of Information, Mr Kojo Oppong Nkrumah, said in an interview on the sidelines of the ongoing IMF/World bank annual meetings in Washington, USA, that the government would not spend beyond its planned expenditure.

“We are matching our expenditure to revenue and the Public Financial Management Act (PFMA) also places a check on us not to overspend,” he said.

There have been concerns that the government will miss its growth targets due to revenue shortfalls and an IMF forecast of 5.9 per cent.

This is because provisional fiscal data for the first seven months of the year show that total revenue and grants amounted to GH¢20.8 billion, which is 10.3 per cent of GDP, compared with a target of GH¢24.0 billion or 11.3 per cent of GDP.

Again, the total expenditures and arrears clearance stood at GH¢28.8 billion, which is 14.3 per cent of GDP against a target of GH¢32.3 billion, which is also 16.0 per cent of GDP.

The revenue performance has been undermined by low import levels, slower pace of implementing specific tax measures, revision to tax assessments, and a sluggish non-oil real sector.

Tax worries

The fact that the government has abolished some taxes but is yet to find innovative ways to reintroduce tax nets and bring in more revenue is worrying.

However, Mr Oppong Nkrumah allayed those fears, saying the government would strengthen the implementation of revenue measures to ensure that revenue targets were met.

“What we are aiming to achieve is to restore the credibility of government forecasts by setting realistic goals so that we do not routinely miss our targets,” the deputy minister said.

Growth last year slumped to an estimated 3.6 per cent, the lowest in decades. Until 2014, Ghana’s economy was one of Africa’s most dynamic, but struggled to overcome the impact of lower prices for its gold and oil exports, and fiscal problems.

The deficit was a sign of the country’s struggle to tame its national finances with help from a $918 million International Monetary Fund programme set to end next year.

IMF concerns

Nonetheless, the IMF Executive Board, led by Mr Tao Zhang, in its August staff report, said the government was committed to macroeconomic stability, fiscal discipline and an ambitious reform agenda.

Decisive implementation of these policies and reforms would allow Ghana to reap its economic potential and achieve higher and more inclusive growth rates.

“The authorities have taken some encouraging steps and the economy is showing signs of recovery. As risks remain tilted to the downside, careful fiscal management will be required to achieve the 2017 programme targets and reverse the unfavourable debt dynamics.

Additional efforts are needed to address revenue shortfalls, while expenditure control measures should be fully enforced to contain current spending, and prevent the recurrence of domestic arrears.

Ongoing fiscal consolidation and implementation of the medium-term debt management strategy will be key to further reducing domestic refinancing risks,” the report said.

“Fiscal consolidation efforts will need to be anchored in wide-ranging structural fiscal reforms, so that consolidation gains can be sustained over the medium term. These include measures to broaden the tax base and enhance tax compliance and public financial management, especially considering the large unpaid commitments accumulated in 2016.

The IMF also cautions that as inflation decelerates, the Bank of Ghana (BoG) should be vigilant in order to bring inflation back to target.

Strengthening credibility

The IMF wants the central bank to strengthen the credibility of the inflation-targeting framework, which will benefit from efforts in the development of the foreign exchange market. The central bank should also continue its policy on zero financing of the government.

It, however, commended the government for making significant progress in the implementation of the banking system road map, in particular, through the approval of time bound recapitalisation plans for banks found to be undercapitalised, and the resolution of two insolvent banks.

It wants further steps to strengthen the supervisory and regulatory framework, reduce outstanding liquidity assistance, and buttress the microfinance sector to help build a more robust financial sector that is well positioned to support growth and promote financial inclusion.

More Articles...

  1. YEA Goes On Ghana Integrated Financial Management Information System
  2. Let’s Support Individuals In Our Communities – MP’s Wife
  3. Why The CID Boss Was Fired...
  4. National Security Meets Parliament Over Libya ISIS Report
  5. President Akufo-Addo is set to create more districts to ensure a smooth administration of the country. DAILY GUIDE is reliably informed that about 30 municipalities and districts are going to be created, barring any last-minute hitches. A source said so
  6. More Districts Coming
  7. The President of the Republic of Cote d’Ivoire, His Excellency Alassane Ouattara, will from today begin a two-day official visit to Ghana. The purpose of the visit is to deepen further the already strong relations that exist between the two countries, as
  8. President Alassane Ouattara Begins Two-Day Visit To Ghana Today
  9. No Room For Compromise – Prez Nana Addo
  10. We Never Accused Otumfuo Of Money Laundering – GhIB
  11. Omanhene Defends Punishing Journalist
  12. Stay Away From Bimbilla Chieftaincy' – Regent To Gov’t
  13. Ablakwa’s ISIS Claims Is 18 months 'Old Rubbish' – Dr Aning
  14. Ghana’s Economy Too Difficult To Understand – ISSER Fellow
  15. Workers Choke Metro Mass Wage Bill But Company Suspends Plans To Lay Off 1,200
  16. FDA Destroys 4,500 Cartons Of Rotten “Asahi Mackerel”
  17. Germany Supports Ghana With €100 Million For Renewable Energy Expansion
  18. Auditing Must Go Beyond Mere Bureaucratic Procedures – Minister
  19. Gas Explosion: Government Asked To Be Proactive
  20. Asantehene's Name Pops Up in £350,000 Bank Case In UK
  21. Exton Cubic Sues Lands Minister Over Withdrawal Of Mining Permits
  22. Govt To Introduce Electronic Visa -VEEP
  23. Free SHS Is A Revolution - Daasebre Prof. Oti Boateng
  24. 13 Delta Force Members To Face Fresh Charge
  25. Gas Explodes In Bakery At Mankessim
  26. I Fought Against Siting Of Filling Station Near UPSA... But NPA Did Not Act – Joshua Alabi
  27. We Must Find A “Lasting Solution” To Gas Explosion – Prez Akufo-Addo
  28. ‘Minister Has No Power To Ban Small-Scale Mining’
  29. AFC earmarks $700m for Africa’s natural resource transformation
  30. Government to maintain cocoa producer prices for 2017/2018 season