Burkina Shippers Council opens office in Ghana to boost transit trade

office complex would enhance the Shippers Council’s operations and help it deliver on its mandate.

The mandate includes ensuring regular supply of products and goods to Burkina Faso in the best conditions pertaining to cost, speed, and security.

The Council also assists shippers and protects their interests, which contributes to the competitiveness of Burkinabe export products on the international market, among others.

Mr Frederick Obeng Adom, Ghana’s Deputy Minister of Transport, called for a strengthened collaboration toward the shared objectives of both countries.

This is line with the African Continental Free Trade Area (AfCFTA) objectives, which aimed at, but not limited to, reducing poverty and shared prosperity among member

Cfao

ity also offers a wide array of services throughout its network, including after-sales and OEM parts.

Firmly focused on the future in partnership with Mercedes-Benz, CFAO Mobility is this year preparing for the launch of progressive and intelligent all-electric models in the Mercedes-EQ range and the construction of a fully self-sufficient dealership in Mauritius to rise to environmental challenges and meet the growing expectations of a demanding clientele.

open mind about the trajectory of inflation, including by avoiding an over-simplified transitory narrative that risks obfuscating the real issues facing the US economy.

“Transitory” is a comforting notion suggesting a short-lived, reversible phenomenon. Critically, the concept assumes away the need to adjust behaviors. After all, if an inflation scare is only temporary, the best way to deal with it is simply to wait it out (or, to use a policy and market term, “look through it”). That is why this narrative is particularly dangerous. By encouraging complacency and inertia, it could exacerbate an already serious problem and make it harder to solve.

The US Federal Reserve’s initial response to rising inflation is a case in point. In 2021, the world’s most powerful and influential central bank rushed to characterize higher inflation as transitory. It doubled down on this approach even after the data went against it, refusing to pivot for too long.

The Fed’s repeated mischaracterization delayed crucial policy responses at a time when the persistence of inflation was starting to influence corporate price-setting and workers’ wage demands. As a result, the Fed not only lost credibility but also inflicted unnecessary pain on millions of American households, particularly the most vul- countries. Mrs Sandra Opoku, the Director of Tema Port, gave the assurance that the Ghana Ports and Harbours Authority (GPHA) would continuously improve on all measures to sustain the transit trade.

The GPHA began with the provision of lands to the transit representatives to build offices and warehouses to support their administrative and operational activities.

She said in a bid to reduce the cost of doing business in Ghana, especially for the transit customers, the GPHA granted rebates on its cargo volumes, and 21 days rent-free for all transit cargo, with automated ports processes to reduce delays.

Source: GNA

Plans are also underway to open other dealerships in Africa—all completely self-sufficient and green thanks to the use of solar panels, in line with the Group’s goal of achieving carbon neutrality by halving its emissions by 2030.

The CFAO Group, Corporation For Africa & Overseas, contributes to growth and industrialisation in Africa while catering to the continent’s emerging middle class. With a revenue of over €6.9 billion, access to 47 of the 54 coun- nerable segments of the population. While a few economists have never given up on the transitory inflation thesis, the vast majority already realized last year that it was a regrettable analytical and policy error. That makes the current re-emergence of this narrative even more perplexing.

A recent article in Politico noted that “There is also at least some reason to believe that [the economists and policymakers] who assured [Americans] that inflation would be transitory, including Fed Chair Jerome Powell, might have been kind-of-sort-of right, though the transitory period was just longer and uglier than expected.”

This is unfortunate. Not only does it force a time dimension on an inherently behavioral concept, but it also ignores the fact that the Fed’s initially fumbled response forced it into one of the most aggressive, front-loaded series of interest-rate hikes ever, including four consecutive 75-basis-point increases. Moreover, while US inflation has been slowing, it is dangerous to suggest that the problem is behind us.

Looking ahead to the rest of the year and early 2024, three possibilities stand out for me. The first is orderly disinflation, also known by critics as “immaculate disinflation.” In this scenar- tries on the continent, and nearly 21,000 employees, CFAO is a key player in mobility, healthcare, consumer goods, infrastructure and energy.

Vodafone Ghana's 101 year-old customer receives wonderful Vodafone package to connect with greatgrandchild!

The Group partners with leading international brands and covers the entire value chain – imports, production, distribution – in line with the highest quality standards, drawing on 170 years of hands-on knowledge and local expertise.

By Mohamed A. El-Erian

io, inflation continues to come down steadily toward the Fed’s 2% target without damaging US economic growth and jobs. The dynamics involve primarily a labor market that avoids excessive wage increases while continuing to anchor strong economic activity. Given what else is going on in the economy, I would put the probability of this scenario at 25%. The second scenario is one in which inflation becomes sticky. The inflation rate continues to decrease but then gets stuck at 3-4% over the second half of this year as goods prices stop declining and services inflation persists. This would force the Fed to choose between crushing the economy to get inflation down to its 2% target, adjusting the target rate to make it more consistent with changing supply conditions, or waiting to see whether the US can live with stable 3-4% inflation. I do not know what the Fed would choose in such a case, but I would put the probability of such sticky inflation at 50%, so I hope it has given this scenario some thought. Lastly, there is the possibility of what we can label “U inflation”:

In a heart-warming moment, Madam Rosina Attoh-Korkoi Konuah, a beloved Vodafone Ghana customer for over 25 years, was gifted with the power of connection on her 101st birthday. The Vodafone team, accompanied by an exquisite bouquet of fresh fruit, presented Madam Rosina with a brand-new smartphone loaded with airtime and data, to enable her to easily prices head back up late this year and into 2024, as a fully-recovered Chinese economy and the strong US labor market simultaneously drive persistent services inflation and higher goods prices. I would put the probability of this outcome at 25%.

This is not just about multiple scenarios with no single one dominating. It is also about probabilities that must be viewed with caution.

Former US Secretary of the Treasury Lawrence H. Summers captured well the prevailing mood among many economists: “It’s as difficult an economy to read as I can remember,” he recently said.

This sense of uncertainty is evident in the short-term outlook for economic activity, prices, and monetary policy, as well as long-term structural shifts like the clean-energy transition, the rewir ing of global supply chains, and the changing nature of globaliza tion. Heightened geopolitical ten sions also play a role.

Whatever happens, the worst thing we can do is fall back into complacency. Powell, after cham pioning “transitory inflation” for too long, is now warning against it.

“There has been an expectation that [inflation] will go away quickly and painlessly and I don’t think communicate with her great-grandchild who she’s yet to meet, and to stay connected with family and friends.

As the Vodafone team entered Madam Rosina's room to make their presentation, the room was instantly filled with warmth, laughter and the sound of a family connected by love and community.

Angela Mensah-Poku, Vodafone Ghana’s Director for Digital Transformation and Commercial Operations said, "Madam Rosina is an that’s at all guaranteed,” he said recently. “The base case, for me, is that it will take some time. And we will have to do more rate increases…” old student of Achimota School and has been a loyal customer of Vodafone’s for over 25 years –since the days of Ghana Telecom. From our conversations with her, we learned that she wanted to see her great-grandchild who had been born recently. Both mother and child live abroad, and Rosina was unable to see them because she did not have a way to connect. That’s why we wanted to gift her with a special Vodafone Package and help her connect with her family in a new way.”

Simplistic economic narratives, especially comforting ones that entice those looking for shortcuts, often mislead much more than enlighten. This was the case with the transitory inflation narrative that, while discredited in 2021-22, is now reemerging. It is also the case with those who are predicting with a high degree of confidence a US recession (I am not in that camp), only to dismiss it as “short and shallow” in order to regain their economic comfort zone.

A joyous Rosina said the gesture was a demonstration of the company’s commitment to appreciating its long-serving customers.

"She has been a loyal customer for so long, and it is an honour to have her as part of the Vodafone family," said Shirley Konadu Kyere, Vodafone’s Customer Loyalty Manager, who was present during the visit. "She always has a warm smile and kind words for us, and we’re glad we could do something special for her." For close to 14 years, Vodafone Ghana has been present in the very fabric of Ghanaian culture and way of life; delivering innovative customer-centric solutions and empowering its 7.1 million customers. With unwavering commitment to the needs of customers, Vodafone continues to lead the way in providing unsurpassed customer experiences. Speaking at her home, and amidst her surprise, Madam Rosina expressed her joy and appreciation for the gesture shown by Vodafone. She further encouraged everyone to prioritize staying connected with their loved ones and thanked Vodafone for making it possible for her to do same.

Madam Rosina’s daughter, Sarah, spoke to the Vodafone Ghana team, saying, "She had a lovely day! She was so happy and had us in stitches with her stories. She showed off her presents to everyone who cared to see! Thank you so much for everything." The Vodafone team set up Madam Rosina's new phone and helped her make her very first video call to see her granddaughter. The Vodafone Ghana team urged loyal customers to expect more rewards, visits, and engagements in the coming months.