Switzerland assists Ghana`s electricity

Ghana and Switzerland have signed a 13-million dollar financial agreement on Wednesday. It is to improve energy distribution and good financial governance. Under the deal, 12 million dollars will be used to implement structural changes in the electricity sector.The Minister of State for finance and Economic Planning, Anthony Akoto-Osei signed for Ghana and Swiss Ambassador to Ghana, Nicholas Lang, initialed on behalf of his country. The agreement is also meant to provide the Public Utilities and Regulatory Commission (PURC) with technical support and to expand the national grid in the Central region to reduce poverty.The second agreement worth one million dollars under the Good Financial Governance Programme will focus on assisting the Tax Policy Unit at the Ministry of Finance and Economic Planning. This will however mobilise national resources for financing development programmes.The funding will enable the Tax Policy Unit to better position itself to develop a pro-growth and pro-poor tax policy framework to reduce economic distortions related to taxation and strengthen the domestic resource base.”The Swiss support aligns itself with the Ghana Energy Development and Access Project of the World Bank, and presents a case of good practice of donor harmonization and alignment with the needs of Ghana, which are both important topics of discussion during the week’s High Level Forum on Aid Effectiveness,” Lang said.”This trilateral cooperation is another proof of Switzerland’s strong intention to reduce transaction cost for all parties concerned and to deliver support as efficiently as possible,” he added. The Swiss government has assisted Ghana in the areas of macroeconomic support, infrastructure financing as well as trade and private sector promotion.

Angola opposition want fresh polls

Four opposition parties in Angola want fresh polls held after chaos erupted in some parts of the country during Friday`s Parliamentary elections – the nation`s first in 16 years. They contend that ballot control was inadequate and many people were prevented from voting. Polls have officially closed.Turn out was impressive as most Angolans were voting for the first time since the end of the civil war in nearly three-decade. Many polling stations especially in the seaside capital Luanda, experienced a chaotic start but tempers calmed down afterwards.The main opposition party – UNITA – has described the polls as a sham. “The process has collapsed,” Isaias Samakuva, president of UNITA told AFP. He said a new vote was the only solution.”What we want is the cancellation of this election,” added Sindiangani Mbimbi, who leads the Party for Development, Progress and National Alliance of Angola (PDP-ANA).”For us, this election has been a political theatre… We wanted a credible and peaceful process where all the parties would have equal chances, but in this type of bad joke all the rules have been trampled on.”226 seats are up for grabs as 10 political parties battle for a place in Parliament. Results are not expected to be released for at least a week, the Reuters news agency reported.

Oil Deal Between SA and Venezuela

An oil deal has been reached between South Africa and Venezuela. The South Americans are to supply crude oil to the Southern African country as part of a new agreement to strengthen their cooperation. Petro SA based in South Africa will process the supply for consumption.When Hugo Chavez of Venezuela visited Thabo Mbeki of South Africa this week he signed the deal. According to an e-news report, Chavez said the agreement was important for the two countries as it would boost their economies adding that this was an example of Southern nations partnering in a new strategic.“It will be a wonderful day when the first Venezuelan tanker will stop by and leave oil for South Africa,” he said further calling upon the SA firm to explore oil resources in his country.Mbeki was quoted by a BBC report as saying the partnership would help reduce the costs of energy. Meanwhile, media reports say that a massive investment in new energy in South Africa is needed to prevent more power cuts.An investment of at least 1 trillion rand (£72bn) is needed to secure a reliable electricity supply. The Southern African country has been facing blackouts recently which some experts have said could disturb the upcoming 2010 World Cup.