Business News of Monday, 4 September 2023

Source: Rex Mainoo Yeboah, ISD, Contributor

Maritime rating agencies should be circumspect in their reportage - Akufo-Addo

President Akufo-Addo (M) inspecting some work done President Akufo-Addo (M) inspecting some work done

President Nana Addo Dankwa Akufo-Addo has urged International Maritime rating agencies to be mindful of the implications of inaccurate reportage that impacts negatively African countries' participation in global trade.

President Akufo-Addo, who expressed worry about the skewed and inaccurate reportage on the safety and security of the Gulf of Guinea, said while past efforts had brought relative calm to the waters of Africa some entities continue to paint a grooming picture of events in the Gulf of Guinea.

Speaking at the launch of the National Integrated Maritime Strategy of Ghana and the International Maritime Defence Exhibition and Conference in Accra on Tuesday, the President disclosed that Ghana's maritime domain had not recorded any incident of piracy since 2022.

That, President Akufo-Addo attributed to the concerted efforts of the Ghana Navy and other key maritime stakeholders.

The National Integrated Maritime Strategy (NIMS) has been developed by a multi-agency Ghanaian team at a crucial moment where there is a burgeoning awareness of the contribution of oceans to sustainable development.

The Strategy is intended to chart viable courses of action towards addressing these issues to ensure that Ghana's maritime domain is globally considered safe and secure, with strong blue economy sectors that not only generate substantial national income but also improve the living standards of people.

The NIMS has been developed with six strategic objectives — to strengthen the framework for maritime governance; ensure the safety and security of Ghana's maritime domain; develop a thriving blue economy; protect Ghana’s marine and coastal environment; promote capacity-building, research, awareness and knowledge-sharing in the maritime domain and develop dynamic and diversified regional and international cooperation.

President Akufo-Addo said the government has commenced equipping the Navy with drones, coastal radars, real-time surveillance, and tracking protocols to improve maritime domain awareness.

He assured that the government would continue to support the maritime authority and the entire maritime industry with policies, equipment, training, and resources as part of maritime security capacity building.

All these investments, according to the President, are geared towards developing a blue economy, adding that Ghana is taking steps to strengthen maritime governance and also harmonise activities in the maritime sector.

The President was joined at the event by the Minister of National Security, Kan Dapaah, Minister of Transport, Kwaku Ofori Asiamah, Chief of Naval Staff, Rear Admiral, Issah Yakubu among other important state officials and private sector players.