Investors should focus on the enormous opportunities in Ghana’s power sector, according to former president John Mahama’s persuasive arguments.
He says Ghana has a better chance of becoming the power export center of West Africa if the industry receives the proper funding.
On Monday, October 23, Mahama gave a speech at an international business forum hosted by the Ghana-Canada Chamber of Commerce in Alberta, Canada.
He said, “There is space for investment in power. We have seen a lot of investment in power when we liberalised the sector,” he added. “We allowed independent power producers, so several firms have invested in generating plants to produce both for Ghana and export to neighbouring countries.”
“We also have the potential in renewables, mainly solar, wind is not very viable because we are close to the Equator and so solar is the main thing.”
“I guess if we could export sunlight, we could export some to Alberta, and so there is potential for a lot of solar power. Ghana is also an oil-producing country, we produce crude oil and LNG,” Mahama added.
Health officials report that nearly 5,100 Palestinians in the Gaza Strip have lost their lives since Israel initiated an extensive bombing campaign against the besieged enclave, following an attack by Hamas within Israel over two weeks ago.
On Monday, Gaza’s Ministry of Health disclosed that approximately 40 percent of the 5,087 casualties are children.
This revelation coincided with the Israeli army’s announcement of over 300 new air attacks carried out within a 24-hour period.
Palestinian officials stated that more than 400 individuals lost their lives during that timeframe.
In the wake of the conflict, thousands of buildings lie in ruins, and over one million people have been displaced within the territory.
Gaza, under siege and facing severe shortages of water, food, and other essential supplies, remains in a dire humanitarian situation.
As Israeli Prime Minister Benjamin Netanyahu vowed to “erase Hamas,” hostilities continued to intensify throughout the night, with the looming prospect of a full-scale ground invasion.
It is worth noting that Hamas’s earlier attack in southern Israel resulted in the death of at least 1,400 people, predominantly civilians, according to Israeli officials.
The Israeli military declared on Monday that it had attacked “over 320 military targets in the Gaza Strip” in the day preceding.
It said the targets “included tunnels containing Hamas terrorists, dozens of operational command centres” as well as “military compounds and observation posts” used by the Palestinian Islamic Jihad, another armed group.
More than 60 people were killed in the raids during the night, including 17 in a single strike that struck a house in northern Gaza, according to the government media office in Gaza. At least 10 more people were killed in fresh strikes that occurred early on Monday.
Mohammed Abu Sabalah, a resident of Rafah in the south, claimed that on Monday, “a quarter of an hour later there was a bombing” happened after he had returned home from a mosque following dawn prayers.
“We couldn’t see anything because of the thick smoke,” he said, adding, “We thank God that we’ve emerged safe and sound” with “only a few windows and doors destroyed”.
Tala Herzallah, 21, who evacuated to the south following Israel’s order to leave the northern Gaza Strip on October 13, said last night “could not be “described in words”.
“We were literally shaking due to fear. We didn’t know if we would wake up alive or not,” Tala noted, adding that she woke up in the morning to a “series of bombings” nearby.
Israeli forces have gathered near the Gaza border, and smaller units have conducted limited incursions to target Hamas and attempt to rescue captives taken by the group from Israel on October 7. Israel currently estimates the number of captives at 222.
“We were displaced from Tal al-Hawa to Rafah at the request of the Israeli army, and this is what happened to us. My son is a 3-month-old martyr,” the father of a child killed in an attack in Rafah told Al Jazeera.
Hamas confirmed the skirmishes, stating its fighters encountered an Israeli armored unit infiltrating east of Khan Younis in southern Gaza. The group reported that its fighters destroyed some Israeli military equipment.
The United States has released a business advisory on Monday, cautioning companies about potential risks when operating in Uganda.
The advisory pointed to concerns related to the country’s anti-LGBTQ law, which has faced condemnation from numerous countries and international organizations, including the United Nations.
This advisory was jointly issued by multiple U.S. government agencies, including the Departments of State, Labor, Health and Human Services, and Commerce, as well as the U.S. Agency for International Development (USAID).
Uganda’s anti-LGBTQ law, regarded as one of the world’s strictest, was enacted in May. It includes the death penalty for what is termed “aggravated homosexuality,” which encompasses offenses such as transmitting HIV through same-sex relations. The law has triggered strong opposition from Western governments, including the United States, and has jeopardized Uganda’s receipt of significant foreign aid funds.
The legislation also imposes severe penalties for entities, such as media outlets and non-governmental organizations, that are found to be promoting LGBTQ activities. These penalties include heavy fines for supporting LGBTQ causes. Furthermore, the law stipulates life imprisonment for same-sex sexual activity and a 20-year prison sentence for the promotion of homosexuality.
This advisory serves as a warning for businesses regarding the legal environment in Uganda, particularly the potential implications and risks associated with the country’s anti-LGBTQ legislation.
“Uganda’s enactment of the Anti-Homosexuality Act (AHA) on May 29, 2023, further increases restrictions on human rights, to include restrictions on freedoms of expression and peaceful assembly, and exacerbates issues regarding the respect for leases and employment contracts,” the U.S. government’s business advisory said.
Following the law’s passage, the U.S. State Department placed restrictions on Ugandan officials’ ability to travel in June.
Additionally, the State Department revised its travel advisory for Americans visiting Uganda to emphasize the possibility that LGBTQ individuals may face legal action and be sentenced to life in prison or the death penalty in accordance with existing legislation.
Rights organizations claim that a barrage of abuse directed primarily at private individuals against LGBTQ persons has been unleashed by the law.
A delegation led by the Minister for Lands and Natural Resources, Samuel Jinapor, is set to attend the 25th China Mining Conference and Exhibition, scheduled from October 26 to 28, 2023, in Tianjin, China.
This conference, established in 1999, serves as a key global mining forum, bringing together governments, investors, and industry players. With more than 10,000 delegates and 400 exhibitors expected to participate, the event revolves around the theme of “Innovation promotes high-quality development of mining.”
Before the conference, Minister Jinapor will meet with select mining investors on October 24 to present investment opportunities in Ghana’s mining industry. He will also visit operational sites and engage with senior leadership from Chinese mining companies with interests in Ghana, such as the Shandong Gold Group, Chifeng Jilong, and Tianyuan Manganese Industry Group.
Furthermore, on Thursday, Jinapor will join the Chinese Minister for Natural Resources and the chairman of the China Mining Association for the formal opening of the conference. He will partake in a Minister-to-Minister Forum, focusing on developments in the Ghanaian mining industry, with an emphasis on green minerals.
During the country promotion session on Friday, the minister will discuss “Leveraging over a century of mining to enhance value addition for the development of Ghana,” advocating for increased investment in Ghana’s mining industry value chain, particularly in value addition.
This is the first in-person conference since the pandemic, providing an opportunity for Ghana to showcase its mining industry, supporting the country’s post-pandemic recovery. The delegation includes key representatives from the Minerals Commission, the Minerals Income Investment Fund (MIIF), and the parliamentary select committee on mines and energy.
The Trades Union Congress (TUC) of Ghana has committed to advocating for higher wages for workers across both formal and informal sectors.
Their goal is to adjust the minimum wage to better reflect the increasing cost of living, ultimately improving pension benefits.
The TUC seeks to replace the current minimum wage with a living wage in Ghana. Presently, 5.5% of a worker’s salary is deducted each month, with 13% added to the basic salary. This amounts to 18.5%, with 13.5% directed to the Social Security and National Insurance Trust (SSNIT) for tier 1 and 2 pension schemes.
TUC is working to secure a more equitable minimum wage package for all workers in 2024, addressing the country’s salary structure to enhance financial security and retirement planning.
“We have taken into consideration to see how best we can improve salaries for workers so that they can pay a bigger premium to end them a better pension. Salaries in general have been very very low in this country and it started from Adams time, and we have been trying to increase earnings of workers in this country.”
He added “If we want a better pension then our basic salaries must also be big so it is something that the unions are taking into consideration that is why for some time now we have been clamoring for a living wage instead of a minimum wage. Living wage may increase the basic salaries of workers so when they pay their premium it will end them better pension in the future.”
Out of Ghana’s labor force of 11.5 million, 9.9 million are actively employed, and 6.7 million are self-employed. Unfortunately, just 9% of the self-employed have pension coverage, with a mere 0.85% (around 1.2 million individuals) covered under the SSNIT scheme.
To bridge this pension coverage gap, SSNIT, in partnership with the Trades Union Congress (TUC), has initiated the ‘Self Employment Enrollment Drive’ (SEED). The primary goal is to enroll informal sector workers into the pension scheme.
During the launch of the Self Employment Enrollment Drive in Koforidua, Dr. John Ofori Tenkorang, Director General of SSNIT, highlighted the program’s success, noting that informal sector enrollment has increased significantly, rising from 14,000 to 57,000 recently.
Dr. Tenkorang emphasized the importance of these contributions in ensuring the financial well-being of workers and securing additional insurance benefits.
“If they(informal sector workers) too join us and pay their contributions they can have partial income replacement with annual increments till good Lord calls them home, and even when they are working and God forbid they pass away before they attain the age of 60 we realized there are children and other love ones who depend on that person so they automatically get life insurance so when they are no more SSNIT take care of the people they left behind”.
Dr. Koranteng also revealed that “one other benefit that most people don’t know is while you are working if God forbids you were to become invalid meaning you have an accident or sickness and Doctors declare you as permanently disable and unable to engage in any gainful employment irrespective of how old you are SSNIT is supposed to replace the income that you have lost not for one year not for three years but for as long as you live.”
He also said contributors get Health Insurance for free.
The Ghana Water Company Limited (GWCL) revealed it possesses 923,000 meters, serving millions of customers across the nation.
Ing. Dr. Clifford A. Braimah, the Managing Director, disclosed this at the second edition of the company’s ‘Accounting to the People’ event on October 23, 2023, in Accra.
Dr. Braimah emphasized that multiplying this figure by five means these meters serve over 4,615,000 people.
The company has embraced technological advancements, introducing a drone metering system to simplify meter reading and billing processes, benefiting both customers and GWCL.
In a pilot fly-by meter reading exercise in the Accra West Region, the drone read 477 meters out of 508 smart meters in just 14 minutes.
Utilizing drones for meter reading enhances staff safety, eliminates issues with inaccessible properties, and speeds up the decision-making process.
Dr. Braimah also assured customers that GWCL provides high-quality water meeting ISO standards.
In Ghana, there are over twelve million workers, but only about two million are protected by pension plans, according to Minister of Pensions, Employment, and Labor Relations, Ignatius Baffuor-Awuah, .
Mr. Awuah made this statement during the 55th anniversary celebration of the Ghana Co-operative Credit Unions Association Limited in Koforidua, in the Eastern region.
He urged the credit unions to collaborate with the National Pensions Regulatory Authority to establish a trust scheme, facilitating savings for informal sector workers’ future financial security.
“We have roughly twelve million people working in Ghana but those who are on pensions are less than two million, which means that many of our people reach their pensions without being on any social security system”, Mr Baffuor-Awuah indicated.
“We have together with the National Pensions Regulatory Authority begun programmes to enrol especially all persons within the informal sector of the economy. But I see a window in the credit unions because there are quite a number of informal operators who also are members of credit unions”, he said.
During the event, the association requested that the government grant its members tax exemptions. Dr. Bernard Bingab, the Board Chairman, emphasized that such an exemption would safeguard the investments of credit unions.
Dr Bingab said: “One of my biggest appeals to our government is tax exemptions for co-operatives”.
“Almost all African countries exempt co-operatives from tax. In recent years the Ghana Revenue Authority has clamped down on credit unions asking some to pay as high as one million cedis. Mr. Minister this is totally unwanted”, he noted.
“This is a group that is there to help the country. Monies that we take as credit unions get back to the pool, so, we have difficulty as to why other African countries have exempted co-operatives and yet the credit unions are being asked to pay tax”, he wondered.
Dr Bingab also noted: “As we navigate the future of credit unions, it is important to acknowledge that just as with any evolving industry, there are both threats and opportunities”.
“The threat of cyber-crimes is significant to us. We have recently engaged the Cyber Security Authority to see how they can help us. As credit unions, we see the way to go is technology but there’s a threat of cyber-crime”, he added.
As of October 24, 2023, according to the Bank of Ghana’s interbank forex rates, the Ghana Cedi is trading against the US Dollar at a buying price of 11.4362 and a selling price of 11.4476.
In Accra’s forex bureaus, the US Dollar is being bought at 12.00 and sold at 12.25.
Against the Pound Sterling, the Cedi has a buying price of 13.9819 and a selling price of 13.9970, while in Accra’s forex bureaus, the Pound Sterling is bought at 14.50 and sold at 14.90.
The Euro’s rates are 12.1740 for buying and 12.1851 for selling. In Accra, the Euro is purchased at 12.50 and sold at 12.95.
The South African Rand’s rates are 0.6040 for buying and 0.6046 for selling, and in Accra’s forex bureaus, it’s bought at 0.35 and sold at 0.95.
The Nigerian Naira is traded at a buying price of 71.3535 and a selling price of 73.3672, while in Accra’s forex bureaus, the rate is 8.50 Naira for every 1 Cedi when buying and 14.00 when selling.
Finally, for the CFA, the buying rate is 53.8327 and the selling rate is 53.8818, and in Accra’s forex bureaus, it’s bought at a rate of 17.50 CFA for every 1 Cedi and sold at a rate of 20.00 CFA for every 1 Cedi.
Note that these rates may be different at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
The Greater Accra Regional Chairman of the Association of Ghana Industries (AGI), Tsonam Akpeloo, has expressed anticipation that Finance Minister Ken Ofori-Atta will implement recommendations for boosting the private sector.
He emphasized the need to streamline the current tax system to support local manufacturers and reduce their tax burdens. In an interview with Joy Business, Mr. Akpeloo stated,
“We are saying that we want the current tax regime to be streamlined in order to give room for private local manufacturers to able to thrive and relieve them from all the tax burden”.
“The issue of taxation is very key for us, and we really looking forward for the finance minister to address that. We have had several meetings with him, and we only pray that they would want to implement some of the recommendations for the private sector”.
This statement follows Finance Minister Ken Ofori-Atta’s announcement that the 2024 Budget will introduce programs and initiatives aimed at reducing the high cost of doing business in the country.
Ofori-Atta emphasized that the budget will also tackle concerns related to excessive taxation impacting the private sector.
He added that the government is committed to prioritizing the private sector and creating a conducive environment for its growth.
Judge Rahman Oshodi of the Ikeja Sexual Offenses and Domestic Violence court convicted Doctor Olufemi Olaleye, the medical director of the Optimal Cancer Care Foundation, guilty of raping his wife’s niece on Tuesday.
The victim’s testimony and the medical expert who examined her were deemed believable by the judge.
He went on to say that Olaleye’s confessional admission and his wife’s exchange of emails and WhatsApp chats constituted sufficient evidence against him.
Judge Oshodi claimed that the statement and undertaking the defendant signed at the Anthony Police Station with his attorney Olalekan Buruji and his NBA seal proved that he had been sexually assaulted and forced to suck the victim’s genitalia.
Meharry Medical College, in collaboration with Tennessee Donor Services, has initiated a pioneering program aimed at encouraging aspiring Black and minority doctors to actively participate in organ donation and transplantation.
This innovative initiative also seeks to build trust among patients of color, addressing the issue of transplant inequity.
Throughout the summer, six students, who recently completed their first year at Meharry, had the opportunity to shadow the donor agency. They gained valuable insights into the intricate steps involved in making transplants possible.
Teresa Belledent, a medical student, expressed her enthusiasm for transplants and emphasized the opportunity to offer a second chance at life through organ donation. The students’ roles include identifying potential donors, discussing donation with grieving families, retrieving organs, and facilitating matches for recipients, often spanning hundreds of miles.
Dr. Marty Sellers, the organ agency’s surgeon, provided hands-on training to students in the operating room.
Despite record numbers of transplants in recent years, many individuals still succumb to the lack of available organs, underscoring the urgent need for diversification in organ donation. Inequities in organ transplantation remain a pressing concern, particularly in communities of color.
Teresa Belledent’s experiences in Haiti, where the scarcity of transplant surgeons limits access to lifesaving procedures, underscore the importance of these efforts.
Black Americans face a threefold higher risk of kidney failure compared to white individuals, yet disparities persist in access to transplant lists and receiving organs from living donors.
To bridge this gap, initiatives like Meharry’s aim to bolster diversity among donors, increasing the chances of finding suitable matches for people of color.
Jill Grandas of Tennessee Donor Services underscores the need to close the organ donation gap, while Dr. James Hildreth, from Meharry Medical College, emphasizes the multifaceted nature of the problem. The shortage of African-American and minority transplant surgeons and nephrologists hinders progress.
Exposing students to these critical issues forms a key aspect of the program. As part of their education, students engage with donor families, gaining insights into their motivations for choosing organ donation.
Their most memorable moments often revolve around interactions with grieving families, who generously share their donation experiences.
President of the Concerned Cocoa Farmers Association, Nana Boateng Bonsu, has urged the government to clarify the status of the Ghana Cocoa Board (COCOBOD).
Bonsu emphasizes that this information is crucial for farmers to decide whether to sell their products directly to buyers.
He believes that direct engagement with buyers could yield higher revenues for farmers, rather than relying on government negotiations.
During an interview on JoyNews’ PM Express on October 23, 2023, Mr. Bonsu stated, “If they know COCOBOD has collapsed, we should know so that cocoa farmers can sell their products directly to the buyer to make our money rather than relying on the government because the government has nothing better to offer the farmers.”
Additionally, he highlighted that certain farmers are opting to uproot their cocoa trees and transition to cultivating alternative crops in pursuit of increased earnings.
“Right now, a lot of farmers are cutting down their cocoa trees and shifting to different crops all because they’ve realised that they have been enslaved for so many years,” President of Concerned Cocoa Farmers Association stated.
He also criticized COCOBOD for failing to heed farmers’ concerns and not engaging in any meaningful dialogue with them.
“Cocobod has put wax in their ears and are not listening to the farmers. There’s nothing happening on the ground. There is no dialogue between farmers and Cocobod. Anything that comes to them [Cocobod] and they think it is beneficial to them or us, they just implement. There is nothing like an engagement or ‘let’s sit down with the farmers since they are those on the ground and see what they want’,” he opined.
Nigeria’s Supreme Court commenced the appeal process on Monday, as an opposition candidate seeks to overturn a court’s decision that upheld President Bola Tinubu’s victory in the February elections.
After an extended period of deliberation, a court in September dismissed the applications by Atiku Abubakar of the People’s Democratic Party and Peter Obi of the Labour Party, which sought to annul Tinubu’s victory based on allegations of fraud and irregularities.
Abubakar, who came in second, filed an appeal, contending that the judiciary had made a “serious error” in its judgment.
The seven judges of the Supreme Court are anticipated to render their verdict in the weeks ahead regarding this latest challenge. The Supreme Court holds the ultimate authority in presidential election petitions.
In the February polls, nearly 25 million Nigerians cast their votes in an election that was generally peaceful but marred by counting delays and electronic result transfer failures.
The international community widely accepted the final results, which declared Tinubu as the winner with 37 percent of the vote.
In Nigeria, no legal challenge to a presidential election’s outcome has succeeded since the nation’s return to democracy in 1999.
It’s been 17 days since Hamas launched its horrific attack against Israel, killing over 1,400 Israeli citizens, including defenseless women, children and the elderly. In the aftermath of such unspeakable brutality, the U.S. government and the American people have shared in the grief of families, prayed for the return of loved ones, and rightly declared solidarity with the Israeli people.
As I stated in an earlier post, Israel has a right to defend its citizens against such wanton violence, and I fully support President Biden’s call for the United States to support our long-time ally in going after Hamas, dismantling its military capabilities, and facilitating the safe return of hundreds of hostages to their families.
But even as we support Israel, we should also be clear that how Israel prosecutes this fight against Hamas matters. In particular, it matters — as President Biden has repeatedly emphasized — that Israel’s military strategy abides by international law, including those laws that seek to avoid, to every extent possible, the death or suffering of civilian populations. Upholding these values is important for its own sake — because it is morally just and reflects our belief in the inherent value of every human life. Upholding these values is also vital for building alliances and shaping international opinion — all of which are critical for Israel’s long-term security.
This is an enormously difficult task. War is always tragic, and even the most carefully planned military operations often put civilians at risk. As President Biden noted during his recent visit to Israel, America itself has at times fallen short of our higher values when engaged in war, and in the aftermath of 9/11, the U.S. government wasn’t interested in heeding the advice of even our allies when it came to the steps we took to protect ourselves against Al Qaeda. Now, after the systematic massacre of Israeli citizens, a massacre that evokes some of the darkest memories of persecution against the Jewish people, it’s understandable that many Israelis have demanded that their government do whatever it takes to root out Hamas and make sure such attacks never happen again. Moreover, Hamas’ military operations are deeply embedded within Gaza — and its leadership seems to intentionally hide among civilians, thereby endangering the very people they claim to represent.
Still, the world is watching closely as events in the region unfold, and any Israeli military strategy that ignores the human costs could ultimately backfire. Already, thousands of Palestinians have been killed in the bombing of Gaza, many of them children. Hundreds of thousands have been forced from their homes. The Israeli government’s decision to cut off food, water and electricity to a captive civilian population threatens not only to worsen a growing humanitarian crisis; it could further harden Palestinian attitudes for generations, erode global support for Israel, play into the hands of Israel’s enemies, and undermine long term efforts to achieve peace and stability in the region.
It’s therefore important that those of us supporting Israel in its time of need encourage a strategy that can incapacitate Hamas while minimizing further civilian casualties. Israel’s recent shift to allow relief trucks into Gaza, prompted in part by the Biden administration’s behind-the-scenes diplomacy, is an encouraging step, but we need to continue lead the international community in accelerating critical aid and supplies to an increasingly desperate Gaza population. And while the prospects of future peace may seem more distant than ever, we should call on all of the key actors in the region to engage with those Palestinian leaders and organizations that recognize Israel’s right to exist to begin articulating a viable pathway for Palestinians to achieve their legitimate aspirations for self-determination — because that is the best and perhaps only way to achieve the lasting peace and security most Israeli and Palestinian families yearn for.
Finally, in dealing with what is an extraordinarily complex situation where so many people are in pain and passions are understandably running high, all of us need to do our best to put our best values, rather than our worst fears, on display.
That means actively opposing anti-semitism in all its forms, everywhere. It means rejecting efforts to minimize the terrible tragedy that the Israeli people have just endured, as well as the morally-bankrupt suggestion that any cause can somehow justify the deliberate slaughter of innocent people.
It means rejecting anti-Muslim, anti-Arab or anti-Palestinian sentiment. It means refusing to lump all Palestinians with Hamas or other terrorist groups. It means guarding against dehumanizing language towards the people of Gaza, or downplaying Palestinian suffering — whether in Gaza or the West Bank — as irrelevant or illegitimate.
It means recognizing that Israel has every right to exist; that the Jewish people have claim to a secure homeland where they have ancient historical roots; and that there have been instances in which previous Israeli governments made meaningful efforts to resolve the dispute and provide a path for a two-state solution — efforts that were ultimately rebuffed by the other side.
It means acknowledging that Palestinians have also lived in disputed territories for generations; that many of them were not only displaced when Israel was formed but continue to be forcibly displaced by a settler movement that too often has received tacit or explicit support from the Israeli government; that Palestinian leaders who’ve been willing to make concessions for a two-state solution have too often had little to show for their efforts; and that it is possible for people of good will to champion Palestinian rights and oppose certain Israeli government policies in the West Bank and Gaza without being anti-semitic.
Perhaps most of all, it means we should choose not to always assume the worst in those with whom we disagree. In an age of constant rancor, trolling and misinformation on social media, at a time when so many politicians and attention seekers see an advantage in shedding heat rather than light, it may be unrealistic to expect respectful dialogue on any issue — much less on an issue with such high stakes and after so much blood has been spilled. But if we care about keeping open the possibility of peace, security and dignity for future generations of Israeli and Palestinian children — as well as for our own children — then it falls upon all of us to at least make the effort to model, in our own words and actions, the kind of world we want them to inherit.
Cassava could become a major revenue source for the economy, comparable to cocoa, provided it receives proper attention, according to the Deputy Director of Agriculture at the Directorate of Crop Services of the Ministry of Food and Agriculture (MoFA), George Prah, .
Prah noted the substantial local and international demand for cassava and its derivatives. He made these remarks during the launch of the International Cassava Fair (Feira International Da Mandioca or FIMAN) 2023, scheduled for November 21-23, 2023, in Paranavai, Brazil. The Agrihouse Foundation, an NGO that holds the franchise for the event, is organizing the International Cassava Fair.
Ghana currently produces 22 million tonnes of cassava annually, mainly the edible variety for consumption, and the country’s industry consumes about one million tonnes of this cassava.
The government has identified cassava as a key crop under the revamped Planting for Food and Jobs (PFJ) initiative. The PFJ 2.0 plan will establish Cassava Zones in cassava-producing regions, with aggregators offering support to farmers through improved seeds, farm inputs, and the purchase of their produce.
The International Cassava Fair in Brazil aims to expose exhibitors to new technologies and innovations in cassava production and processing, connect cassava farmers with new markets, and facilitate business deals. It also provides an opportunity for participants to explore new agricultural machinery and innovations.
Ivo Pierin, Managing Partner at Podium Alimentos, noted thatBrazilpossesses numerous technologies, machinery, and innovations that could help enhance cassava production, making the location of the fair ideal.
Alberta Nana Akyaa Akosa, Executive Director of Agrihouse Foundation, highlighted that FIMAN has become the largest cassava event in Brazil, with its roots dating back to 2016. The inaugural edition in 2016 featured 61 exhibiting companies and attracted around 4,500 visitors, with the subsequent 2018 edition achieving remarkable success and contributing significantly to the growth and development of the sector.
“Two years later, in 2018, the fair grew even more with 100 companies exhibiting, receiving approximately 5,200 exhibitors,” she stated.
Ms. Akosa outlined various activities planned for the program, including business presentations, exhibitions, panel discussions, and educational trips. Participants can look forward to networking opportunities and business-to-business matchmaking.
Michael Akoto, the Trade Promotion Officer at the Brazilian Embassy, emphasized that Ghana has much to gain from Brazil’s expertise in cassava production and processing.
Ghanaians on social media are commending the Inspector General of Police (IGP), Dr. George Akuffo Dampare, for his adherence to road traffic regulations.
A viral video shows the IGP’s Toyota Highlander coming to a halt at a red traffic light, with his entire entourage following suit.
“The IGP is in traffic. When the light turned red, he did not pass… he stopped with his entire convoy. A whole IGP… God bless the IGP,” the man who took the video can be heard saying.
As soon as the traffic light turned green, the IGP promptly resumed his journey.
According to Section 28 of the Road Traffic Act, 2004 (ACT 683), failure to adhere to the instructions provided by a traffic sign, including a traffic light, constitutes an offense. Offenders may face a summary conviction, with penalties of up to 100 penalty units or a maximum prison sentence of 6 months.
The regulations require road users to be ready to stop when the traffic light signals yellow, come to a halt when it turns red, and proceed when it displays green. However, it is often observed that law enforcement officers, including the police, do not consistently follow these regulations.
The September 2023 Monetary Policy Report by the Bank of Ghana highlights a growth in job advertisements during the first eight months of the year.
The report reveals that in August 2023, there was an increase in the number of job postings in both print and online media compared to the same period in the previous year.
This increase, totaling 2,775 job advertisements, as opposed to 2,467 in 2022, reflects a 12.5 percent year-on-year improvement and serves as a measure of heightened labor demand in the economy.
“On a month-on-month basis, the number of job vacancies increased by 4.2 percent from the 2,662 jobs advertised in July 2023. Cumulatively, for the first eight months of 2023, the total number of advertised jobs went up by 6.6 percent to 22,303 from 20,929 recorded during the same period in 2022,” parts of the report noted.
The report further highlighted that consumer and business confidence surveys conducted in August 2023 conveyed a blend of sentiments.
The Consumer Confidence Index saw a slight decrease, slipping from 87.5 in June 2023 to 86.2 in August 2023. This dip was attributed to factors such as utility tariff adjustments and recent increases in petroleum prices.
Conversely, the business confidence index showed a marginal improvement, rising from 80.0 to 80.3. This uptick was driven by the achievement of short-term goals, positive outlooks on industry prospects due to enhanced consumer demand, and the relative stability of the local currency.
Lawyers representing the former Secretary to the dissolved Inter-Ministerial Committee on Illegal Mining, Charles Cromwell Bissue, have strongly criticized the application from the Office of the Special Prosecutor (OSP) aimed at dismissing their lawsuit, deeming it as “grossly incompetent.”
Lawyer Nana Agyei Baffour Awuah, while urging the Human Rights High Court under the jurisdiction of Justice Nicholas Mensah Abodakpi to reject the OSP’s application, argued that the OSP is attempting to achieve an outcome through the back door, which should be addressed in the substantive suit.
Charles Bissue’s application primarily seeks to enforce his human rights, especially in response to the OSP’s recent actions, including declaring him as wanted.
However, the OSPis contesting this request. During the court session on Monday, October 23, Charles Bissue’s lead lawyer raised a preliminary legal objection against the OSP’s notice, filed on August 1, which sought to use the court’s inherent jurisdiction to summarily dismiss his client’s application filed on June 16.
Women in the informal sector of the Ada East and Ada West District in the Greater Accra Region have received capacity-building training to combat various cybercrimes and fraud-related activities.
Radio Ada, a community radio station located in the Ada East District, collaborated with Penplusbyte to organize a one-day training program on October 18, 2023.
The training aimed to provide women with knowledge about fraudulent activities and strategies to protect themselves from individual wrongdoers and their tactics.
Miss Theodora William Anti, the Executive Director of the Foundation for Security and Development Africa (FOSDA), served as a resource person at the event.
She emphasized that the world is continuously evolving, and fraud perpetrators are enhancing their skills through the internet and various social media platforms.
Therefore, it is crucial for women to remain vigilant regarding online information and social media platforms.
“Fraudsters rely on the weakness of social media users, so everyone must keep their personal information or details secret. Desist from responding to mobile network promotion messages you don’t personally take part in. Fraudsters create accounts using the names of prominent such as MPs to dupe innocent people for money so verify such information so that you don’t fall prey to these fraudsters”, she admonished.
She concluded that women can exploit the internet and social media to revamp their business. “In our capacity as businesswomen in the informal sector, we can market our business on social media to attract more customers”, she encouraged.
Mr. Gedion Amarnor Dzeagu, the Head of Programs at Radio Ada, emphasized that women in Ghana play a significant role, contributing to 70% of the country’s economic growth. As a result, understanding how fraudsters exploit technology to harm businesses online is of paramount importance.
He further elaborated that the constitution underscores the importance of making information available to everyone, which is the central focus of the capacity-building training. Mr. Dzeagu pointed out that women in the informal sector are particularly vulnerable to cyber threats, with potentially devastating consequences, making them more susceptible than other segments of society. This underscores the need for media to serve as educators in providing solutions to these challenges.
“Penplubyte targets women because the information available to women gets to the children, men, and others in the home. We also engaged them in local languages to ensure adequate understanding of the content of our training,” he explained.
The training program covered various aspects, equipping participants with the skills to protect themselves from mobile money fraud, effectively utilize the internet for business promotion, and distinguish between authentic and counterfeit information online.
Those who took part in the training represented a diverse range of professions, including market women, traders, fishmongers, farmers, and shop operators.
Nigeria’s government has avoided a potentially massive $11 billion payout after a London judge ruled that an arbitration award, related to a failed gas deal and awarded to a hedge-fund backed firm, was secured fraudulently.
The judge found that the substantial arbitration award in favor of Process & Industrial Development Ltd. (P&ID), a firm with hedge fund backing, was tainted by bribes. “The awards were obtained by fraud,” Judge Robin Knowles stated in a ruling on Monday.
The case, according to the judge, serves as a striking example of what some individuals are willing to do for financial gain. He described them as individuals driven by greed, ready to engage in corruption without contemplating the harm it would cause, including harm to the people of Nigeria.
This ruling, subject to potential appeal in the UK, comes as a relief to Africa’s largest crude oil producer. The Nigerian economy is grappling with double-digit inflation and declining oil revenues, and an adverse ruling could have added a considerable financial burden to the country. Nigeria has seen its debt increase nearly eightfold in the past eight years, reaching over $110 billion.
While Nigeria’s allegations of widespread bribery concerning the gas deal and attempts to buy off lawyers representing the country in winning the arbitration award in 2017 did not entirely hold, the judge acknowledged the presence of irregularities in the award. This could pave the way for the court to nullify the award, relieving Nigeria from facing this substantial financial liability.
Spokespeople for Nigeria, as well as lawyers for P&ID and its founders, did not provide immediate responses to requests for comments.
At the heart of this legal battle is a failed 2010 gas deal between Nigeria and P&ID, a British Virgin Islands-registered firm founded by two Irish businessmen. This agreement resulted in an initial $6.6 billion arbitration award for P&ID, which has now grown to over $11 billion with accumulated interest.
In its pursuit of avoiding the significant payout, Nigeria alleged “bribery of epic and industrial scale” related to the gas deal and in attempts to influence the lawyers representing the country during the arbitration process in 2017. The country’s lawyer, Mark Howard, stated during the trial in March that no one who had witnessed the factual evidence could have missed the “stench of corruption.”
While not all of Nigeria’s allegations were accepted by the court, the judge recognized the irregularities in the award, providing a pathway for the court to invalidate the award’s enforceability.
Among the potential beneficiaries of the award if P&ID had succeeded in receiving the full amount were the Richard Deitz-led hedge fund VR Capital Group Ltd., two UK lawyers, P&ID’s founder, and two missing witnesses.
“We completely deny that there was any corruption,” David Wolfson, P&ID’s lawyer, previously said. Nigeria came up with fabricated evidence to lay a “forensic trap” for the court to rule against the award.
Over 70 young individuals were detained by security forces in northeastern Nigeria on Saturday, accused of arranging a same-sex wedding in a country where such unions are illegal, and violence against the LGBT+ community is pervasive.
Same-sex marriage is prohibited in Nigeria, subject to a 2014 law that imposes a 14-year prison sentence for violations.
Buhari Saad, the spokesperson for the Nigeria Security and Civil Defence Corps (NSCDC) in Gombe State, a government-affiliated paramilitary organization, stated, “We apprehended 76 suspected homosexuals at a birthday party organized by one of them who was due to marry his fiancé at the event.”
The detained group includes 59 men and 17 women.
Legal representation for those arrested was not immediately available for comment or confirmation.
Intimidation of the LGBT+ community is widespread in Nigeria, and security forces have conducted numerous raids on gatherings they suspect involve same-sex weddings in recent years. However, none of those arrested have been convicted.
In August, police arrested over a hundred men in a similar situation in southeastern Nigeria.
Amnesty International, a human rights organization, has called for an end to what it terms a “witch-hunt.”
“In a society where corruption is endemic, the law prohibiting same-sex relationships is increasingly being used for harassment, extortion and blackmail by law enforcement officials and other members of the public”, it also condemned.
In December, the Islamic police, known as Hisbah, arrested 19 men and women in their twenties in Kano, the largest city in northern Nigeria, on allegations of arranging a same-sex wedding. The suspects were detained briefly and subsequently released without facing legal proceedings.
Gombe State, where the recent arrests occurred, is among the northern states with a Muslim-majority population where Islamic Sharia law is applied in conjunction with federal and state legal systems.
Under Sharia law, homosexual relationships are subject to the death penalty, although this punishment has never been implemented in northern Nigeria.
The NSCDC spokesperson did not clarify whether the individuals detained on Saturday would be prosecuted under Sharia law or the regular legal system.
Member of the National Democratic Party (NPP)’s communications team, Lawrence Kwesi Antwi, has conveyed his dissatisfaction with the resignation of Eastwood Anaba and Duncan Williams from the National Cathedral Board.
In his view, these two individuals are exceptional spiritual leaders who should have remained steadfast in overseeing the operations of the National Cathedral at every stage.
Consequently, choosing to resign because of gov’t failure to appoint an independent accounting firm to conduct a comprehensive audit is equivalent to forsaking the divine mission.
“If you want to probe into accountability and you haven’t been able to achieve that purpose, why do you abandon it. You are fighting for God, ” Mr Lawrence Kwesi Antwi told the media.
Founder and General Overseer of United Denominations of Action Chapel Churches Worldwide, Archbishop Nicholas Duncan-Williams, and President of Eastwood Anaba Ministries, Rev. Eastwood Anaba, tendered their resignations from the Board of Trustees overseeing the construction of the National Cathedral.
In a collaborative statement issued by Archbishop Duncan-Williams and Rev. Anaba, they have expounded that their decision to resign is a result of the government’s failure to engage an independent auditing firm for a comprehensive examination of all public funds directed towards the National Cathedral project.
Back on January 23, this year, the two religious leaders had urged for the immediate suspension of the project, along with the initiation of a financial audit.
At that time, they underscored that their call was prompted by the numerous controversies associated with the venture.
They believed that the suspension would have created an avenue for transparency and accountability to be delivered to the Ghanaian populace.
In a memorandum submitted to the Board of Trustees, they had requested an impartial audit of the project’s financial outlays.
In their most recent joint statement, the clergy members assert that their request has received limited attention, prompting them to take the decision to step down from the project’s board.
“We, therefore, regret that as a matter of conscience and faith, we hereby submit to you our resignation from the Board of Trustees of the National Cathedral. We honourably assure you, as we assured the Board of Trustees in January 2023 with the submission of our Resolution, that our action in no way impugns the vision or intent of The National Cathedral, but rather ensures that it is advanced and built on a foundation of integrity, efficiency and quality while garnering and maintaining public trust and support,” a part of their statement read.
The Bank of Ghana’s Interbank forex rates today, October 23, 2023, indicate that the Ghana Cedi is trading against the dollar at a buying price of 11.4158 and a selling price of 11.4272.
At a Forex bureau in Accra, the dollar is being bought at a rate of 11.95 and sold at 12.25.
Against the Pound Sterling, the Cedi is trading at a buying price of 13.8576 and a selling price of 13.8726. At a Forex Bureau in Accra, the pound sterling is being bought at a rate of 14.45 and sold at a rate of 14.95.
The Euro is trading at a buying price of 12.0837 and a selling price of 12.0958. At a Forex Bureau in Accra, the Euro is being bought at a rate of 12.45 and sold at a rate of 12.95. The South African Rand is trading at a buying price of 0.6016 and a selling price of 0.6019.
At a Forex bureau in Accra, the South African Rand is being bought at a rate of 0.35 and sold at a rate of 0.95. The Nigerian Naira is trading at a buying price of 67.7932 and a selling price of 70.9189.
At a Forex bureau in Accra, the Nigerian Naira is being bought at a rate of 9.00 Naira for every 1 Cedi and sold at a rate of 14.00.
For the CFA, it is trading at a buying price of 54.2301 and a selling price of 54.2844. At a Forex bureau in Accra, CFA is being bought at a rate of 17.50 CFA for every 1 Cedi and sold at a rate of 20.00 CFA for every 1 Cedi.
Member of Parliament for Klottey Korle, Dr. Zanetor Agyeman-Rawlings, has extended a helping hand to residents affected by the recent Akosombo Dam spillage.
She conducted a visit to several flood-impacted areas, including Sogakope, Vume, Sokpoe, Dabala, and other communities in the South Tongu District. These communities have been facing severe challenges caused by the rising waters in the Volta River, resulting from the controlled release of water from the Akosombo Dam.
Dr. Agyeman-Rawlings’ relief efforts comprised blankets, clothing, food, clean drinking water, and hygiene supplies, all intended to provide vital assistance to those displaced by the flooding. Furthermore, she ensured the availability of essential medical provisions to guarantee uninterrupted healthcare services in the region.
During the distribution of relief items, Dr. Agyeman-Rawlings conveyed her deep concern and sympathy for the affected residents, stating, “It is truly heart-wrenching to witness the suffering of our people in the wake of this devastating flood. As their representative, I believe it is my duty to offer assistance during these trying times.”
The legislator also emphasized the importance of a collaborative effort to address the aftermath of the floods, saying, “We are working closely with local authorities and organizations to provide immediate relief and to formulate long-term strategies for mitigating the impact of such disasters in the future.”
The communities grappling with flooding expressed profound appreciation for Dr. Zanetor Agyeman-Rawlings’ prompt intervention during this challenging period.
The controlled release of water from the Akosombo and Kpong Dams, initiated on September 15, 2023, was deemed necessary due to heavy rainfall in the Volta River catchment. This precipitation led to a swift increase in water levels in the Akosombo Dam.
The spillage was essential to prevent the dam from overtopping and to safeguard its integrity. By early October, the water level had continued to surge, surpassing the dam’s maximum operating level of 276 feet.
Subsequently, the Volta River Authority (VRA) raised the spill rate beginning on October 9, 2023, which resulted in flooding across various communities in the North, South, and Central Tongu Districts and the Ada East District.
Throughout this period, senior officials from the VRA and the National Disaster Management Organization (NADMO) have been actively present in the affected areas. They have been assessing the impact of the spill and providing relief items. Additionally, they have conducted educational outreach efforts to promote safety within these communities.
The VRA and NADMO have prioritized evacuating affected individuals to secure locations at higher elevations, ensuring their safety during these trying times.
The Kenyan currency reached an unprecedented low of 150 shillings per US dollar, exacerbating the economic challenges in the heavily indebted East African nation marred by inflation, according to data from the Central Bank.
The Kenyan shilling’s depreciation has been rapidly accelerating, losing nearly 24% of its value against the dollar over the past year.
This decline has been attributed to the strengthening of the US currency, driven by recent Middle East crises that have spurred investment in safe-haven assets and the attractive yields on US Treasury bonds.
Consequently, rising import costs and mounting national debt, which stood at over 10,100 billion shillings at the end of June, are posing significant economic challenges for Kenya.
Repaying this debt, including obligations to China, is becoming increasingly burdensome for the government, as it will soon have to begin debt servicing in July.
Ghana’s economy could indeed be adversely affected by the Israel-Hamas conflict. The ongoing tensions in the Middle East have the potential to disrupt the global supply of goods and services, including products that Ghana imports, such as foodstuffs.
If the conflict persists, Ghana may experience the economic ripple effects. Dr. Mohammed Amin Adam, Minister of State at the Finance Ministry, acknowledged the likelihood of this impact.
He further said, “This (Israel-Hamas War) is an event that could engulf the whole world. To the extent that it affects global supply of goods we import. Some of our goods including even the foods that we eat from other countries, Israel exports grains, one of the largest, and that could affect global happenings. To the extent that the goods that are heavily imported into this country will certainly affect us as well.”
“It is too early to say that the effect is here, but there is always the transmission mechanism through which global happenings affect countries like Ghana,” Dr Amin Adam pointed out.
Hamas militants from the Gaza Strip reportedly infiltrated southern Israel, targeting Israeli civilians. Reports indicate that more than 600 Israelis have lost their lives, and around 100 have been kidnapped in these attacks.
In response to these actions, Israeli forces have carried out retaliatory air strikes in Gaza, resulting in at least 313 casualties, according to Palestinian officials.
Despite the escalating situation, the Israeli Mission in Ghana has emphasized that it is not yet time for immediate evacuation. They have committed to ensuring the safety of all individuals, including Ghanaian citizens residing in the affected region.
On the other hand, the Government of Ghana has strongly condemned the ongoing attacks by Hamas on Israel. In an official press release issued on October 8, 2023, the Ministry of Foreign Affairs and Regional Integration called on Hamas to cease its attacks immediately and withdraw its militants from southern Israel.
The Ghanaian government also urged the Israeli government to exercise restraint in responding to these attacks.
Director of Research at the Institute of Economic Affairs (IEA), Dr. John Kwakye, has made a clear appeal to Ghanaians, urging them to stand against any new mining contracts that do not incorporate local mineral refinement.
He emphatically stated that the time has come for Ghana to enhance the value of its minerals, thereby increasing the country’s foreign exchange earnings.
This augmentation in foreign exchange earnings, he highlighted, will bolster the strength of the local currency, the Cedi.
In a tweet sighted by GhanaWeb Business, Dr John Kwakye stated that, “Ghanaians must oppose all new mining contracts that do not include refinement locally. We have to start adding value to our minerals to increase our forex earnings to shore up the cedi.”
This follows the Government of Ghana’s recent approval of a 15-year mining lease to Barari DV Ghana Limited, a subsidiary of Atlantic Lithium Limited, allowing them to initiate lithium mining operations at Ewoyaa in the Central Region. The $250 million project is set to begin production by 2025.
The lease agreement, signed by the Minister of Lands and Natural Resources, Samuel Abu Jinapor, in Accra on October 19, 2023, covers an area of approximately 42.63 square kilometers. Compliant with the country’s Green Minerals Policy, the mining lease entails an increase in royalties, upping them from the standard 5 percent to 10 percent.
Furthermore, the state’s free carried interest has been elevated from 10 percent to 13 percent. The government will also secure an additional six percent share in the mining company through the Minerals Income Investment Fund (MIIF) and 3.06 percent shares in the holding company, which is publicly listed on the Australian and London Stock exchanges.
This development aligns with the policy presented to Parliament on July 13, 2022, by the Lands and Natural Resources Minister on behalf of President Akufo-Addo. The policy’s primary focus is to ensure that the exploitation of green minerals benefits the people of Ghana. Subsequently, the policy was submitted to Cabinet, receiving approval on July 27, 2023, after substantial deliberation and critique.
Key features of the policy include an increase in royalty rates, raising Ghanaian participation in green mineral operations to a minimum of 30 percent, an emphasis on enhanced local content, local participation, including listing on the Ghana Stock Exchange, and promoting value addition and beneficiation.
Based on these policies, the government initiated negotiations with Atlantic Lithium.
https://t.co/vcdSbn3m2G. Ghanaians must oppose all new mining contracts that do not include refinement locally. We have to start adding value to our minerals to increase our forex earnings to shore up the cedi.
At least 28 individuals lost their lives in a devastating boat capsize incident on the Congo River in Equateur province, as reported by local authorities on Sunday.
The ill-fated boat had embarked on its journey from Ngondo, a location situated approximately 74 miles (120 kilometers) from the provincial capital, Mbandaka. Tragically, it met with disaster on Saturday night when it crashed in Bolomba village, as revealed by Didon Ifete, the territory’s administrator, during a state radio broadcast.
Approximately 200 passengers were successfully rescued, but an unknown number remained unaccounted for, he noted.
This unfortunate incident marked the second boat wreck on the Congo River in Equateur province within the span of a week. Just a few days earlier, on October 14, another boat capsized, resulting in the loss of at least 47 lives and the disappearance of over 70 others.
The Congo River and the nation’s lakes are frequently marred by boating mishaps, primarily due to the widespread use of makeshift boats that are often overloaded. In the absence of reliable roads and due to cost considerations, a significant portion of the population in the northwest of the country relies on river travel as a primary mode of transportation.
In an attempt to prevent such accidents, the Congolese government has enforced a nationwide ban on nighttime river travel. However, many individuals continue to defy this directive.
a prospective New Patriotic Party (NPP) flagbearer, Kennedy Ohene Agyapong, has strongly asserted that the party’s electoral successes are intricately linked to his involvement and contributions.
In an interview with Tamale FM, the Assin Central Member of Parliament disclosed that, despite financial incentives to step aside from the race, he remains unwaveringly loyal to the party.
He maintains the conviction that the NPP’s electoral prospects would suffer significantly without his active participation.
“…without me, the NPP can’t win elections. Do you know how many people are begging me? You know, the money that they’ve offered me to step down? If I step down, we will lose. With the sacrifices the party people have made, I cannot selfishly take that amount of money and leave them to their fate,” he stated.
Kennedy Agyapong conveyed his worries about the party’s possible neglect of him, underscoring the interdependence of their achievements.
“How can NPP dump me? If they dump me, they will go into opposition. We all need each other.”
He also exposed his resolute commitment to avoid being used and cast aside by the party, a fate that has befallen individuals in the past.
“You see, NPP will always want to use you and dump you. I will not allow them to dump me anymore; I won’t do it. I will not sacrifice for NPP, for my children, my family, and generations to be humiliated,” he declared.
Director of Research at the Institute of Economic Affairs (IEA), Dr. John Kwakye, has expressed his concerns about the continued approval of what he characterizes as “colonial-type contracts” by the government in recent times.
Dr. Kwakye argues that such contracts primarily benefit foreign entities and the government itself. His comments come in response to the approval of the first lithium mining lease to Barari DV Ghana Ltd, a subsidiary of the Australia-based Atlantic Lithium.
In a tweet that was spotted by GhanaWeb Business, Dr. Kwakye called on the Ghanaian parliament to reject the agreement between the Government of Ghana and Barari DV Ghana Limited. He disputed the claim made by the Minister of Lands and Natural Resources, Samuel Abu Jinapor, that the deal was favorable for the country.
“What do our leaders take us for. Why are they still signing colonial-type contracts that favour foreigners and themselves? Parliament must reject it,” he queried.
He further said, “The terms of this license are not as favourable as the Minister would want us to believe. Where is the local – refining component the President promised us? Parliament should reject it!”
The $250-Million Ewoyaa Project in Central Region Set to Commence Production by 2025″
The Ewoyaa project, with an estimated value of $250 million, is located in the Mfantseman Municipality within the Central Region. It is anticipated to commence production activities in 2025.
On October 19, 2023, the Minister of Lands and Natural Resources, Samuel Abu Jinapor, officially signed a 15-year lease agreement with the company in Accra. This lease agreement encompasses an area of approximately 42.63 square kilometers.
Minister Jinapor clarified that the mining lease is in alignment with Ghana’s Green Minerals Policy. The terms of the lease involve an increase in royalty rates, rising from the standard 5 percent to 10 percent. Additionally, the state’s free carried interest has been raised from 10 percent to 13 percent.
Furthermore, the government, facilitated by the Minerals Income Investment Fund (MIIF), will acquire an additional 6 percent stake in the mining company and 3.06 percent in the holding company, which is listed on the Australian and London Stock exchanges.
It’s worth noting that on July 13, 2022, the Minister of Lands and Natural Resources, acting on behalf of President Akufo-Addo, presented a policy statement to Parliament outlining the development and management of green minerals. This policy aims to ensure that the exploitation of these resources benefits the people of Ghana.
Following its presentation to Parliament, the policy was submitted to Cabinet, where it underwent extensive deliberation and critique before receiving approval on July 27, 2023.
Some of the key components of this policy include higher royalty rates, increased Ghanaian participation in green mineral operations to a minimum of 30 percent, strengthened local content and local participation, including the listing on the Ghana Stock Exchange, and a focus on value addition and beneficiation.
In line with these policy directives, the government initiated negotiations with Atlantic Lithium for the Ewoyaa project.
The governor of Nigeria’s central Kogi state, Yahaya Bello, has refuted allegations that he was the target of an assassination attempt during an incident on the bustling Lokoja-Abuja highway.
Initially, his spokesperson, Kingsley Fanwo, was quoted by local media as stating that unidentified gunmen, attired in military uniforms, had launched an attack on Governor Bello’s convoy on a Sunday.
Fanwo reported that the assailants ambushed the governor’s convoy, opening fire indiscriminately at his vehicle. However, in a subsequent statement, Governor Bello categorically dismissed these claims as false and urged the public to disregard them.
According to the governor, the incident was merely a “fracas” involving his security team and soldiers responsible for patrolling the highway.
Tanzania has recently finalized a 30-year port management agreement with the United Arab Emirates (UAE), a decision that has stirred significant controversy and opposition.
This landmark agreement entrusts Dubai Port (DP) World with the management of four berths or quays at Dar es Salaam, which happens to be Tanzania’s largest port. In addition to these four berths, DP World will engage in a collaborative effort with the Tanzania Ports Authority to oversee three more berths within the port’s premises.
A notable component of this partnership is DP World’s commitment to investing $250 million (£205 million) for the upgrading of the port’s infrastructure over the span of the next five years. This substantial investment aims to enhance the port’s capabilities and modernize its facilities.
However, the deal has not been without its share of criticism and opposition. Several activists, concerned citizens, and members of the opposition in Tanzania have raised objections to the agreement, claiming that it disproportionately favors the Emirati company at the expense of Tanzanian interests.
In response to the public outcry, the Tanzanian government has taken a controversial step by detaining over 22 individuals who were vocal in their opposition to the deal. While some have since been released, the situation has raised concerns, and human rights organization Amnesty International has been monitoring the developments closely.
Tanzanian authorities have defended the agreement, emphasizing that it does not encompass all port operations in the country. They assert that they retain the prerogative to terminate the contracts at any time if deemed necessary, further underscoring that the deal is expected to bolster national revenue and enhance overall efficiency within the port operations.
Despite the controversy and opposing voices, the Tanzanian government remains resolute in its pursuit of this port management agreement with the UAE as a crucial step towards economic development and progress.
For the second consecutive day, aid convoys have entered Gaza from Egypt as Israel continues its intensified airstrikes in the conflict sparked by Hamas’s attack.
On Sunday, seventeen aid trucks crossed into the Gaza Strip to provide essential assistance to the besieged Palestinian territory.
The conflict has left Gaza in dire need, with extensive damage and limited access to vital supplies.
The United Nations expressed concern after the first convoy of 20 trucks passed through on Saturday, estimating that the aid delivered was only 4% of Gaza’s daily imports before the war began.
They emphasized that a significantly larger number of aid trucks, at least 100 per day, is required to meet the needs of the 2.4 million Gazans, half of whom are children, who have been deprived of essential supplies
Executive Chairman of the Food and Beverage Association of Ghana, John Awuni, expresses concern over high taxes and inflation’s impact on cost of living”
“In a press release addressing the escalating concerns, John Awuni, the Executive Chairman of the Food and Beverage Association of Ghana, criticized the high taxes levied on goods and services within the country.
With the current inflation rate reaching 38.1% for September, the cost of living has become increasingly burdensome for the majority of Ghanaians.
Awuni emphasized that imposing excessive taxes on the citizens is not the solution to the current economic challenges.
He argued that if higher taxation were the key to Ghana’s economic development, the nation would have achieved progress with lower living costs and other benefits for its citizens.
“If higher taxes were the key to our economic development, Ghana would have been really developed with citizens enjoying a lower cost of living among others,” Executive Chairman of the Food and Beverage Association of Ghana, John Awuni stated.
In 2020, the local economy faced a severe downturn following the outbreak of the coronavirus pandemic, which left it in a precarious state. The situation persisted for some time, and it was further exacerbated by the Russia-Ukraine war.
To address high inflation and stabilize the economy, the government decided on July 1, 2022, to seek a $3 billion financial bailout program from the International Monetary Fund (IMF).
Subsequently, an IMF team arrived in the country between July 6 and July 13, 2022, to engage with Ghanaian authorities regarding potential economic support.
A staff-level agreement between the Government of Ghana and the IMF was reached in December 2022. On May 17, 2023, the IMF’s executive board approved Ghana’s $3 billion loan facility.
The first installment of $600 million was received by the Bank of Ghana (BoG) on Friday, May 19, 2023.
The government has stated that the IMF program is designed to restore macroeconomic stability and ensure debt sustainability, among other objectives.
The Deputy Minister of Transport, Alhassan Tampuli, has revealed that several international airlines have submitted applications to establish direct flight routes to Ghana’s Kotoka International Airport.
Speaking during the 90th-anniversary celebrations of Air France held at the French Ambassador’s residence in Ghana, the Deputy Minister of Transport stated, “We have received applications from Spain and Italy from airlines interested in establishing direct flights to Accra.”
Additionally, when discussing the ongoing developments at the Kumasi International Airport, the minister indicated that the government has fast-tracked construction at the Kumasi International Airport to accommodate these airlines once their applications are granted.
“The work on aviation infrastructure is only targeted at the Kumasi Airport, but all the regional facilities as well as Kotoka International Airport…We are also targeting work at Domestic terminals as well,” the Deputy Minister of Transport said.
Hassan Tampuli also emphasized the government’s unwavering dedication to transforming Ghana into a central hub for regional and international airline operations, as well as a premier destination for passenger travel.
Presently, Kotoka International Airport serves as the gateway for 23 international and regional flights.
In the domestic aviation sector, Ghana boasts three domestic airlines, namely Africa World Airlines (AWA), PassionAir, and GIAN AIR.
Convener for aggrieved Menzgold customers, Fredrick Forson, has raised concerns over the GH¢5 million reportedly handed over to the police by the Chief Executive Officer of the now-defunct gold dealership firm, Menzgold, noting that the funds have been sent to the Bank of Ghana without any explanation.
Forson mentioned that the customers have not received any information from the police regarding the purpose of this money.
He stated in an interview with Citi News that a meeting with the Ghana Police Service is scheduled for Monday, October 23, 2023, to address the release of the GH¢5 million
“He deposited GH¢5 million at the CID headquarters and per our checks, that money has been sent to the Bank of Ghana…We are yet to be briefed on the note accompanying the money and as of now, we don’t know what he actually wants the money to be used for,” Convener for Aggrieved Menzgold customers said.
“The case is in the High Court now and I am sure the police if any action is taken at all, has to come from the Attorney General, but until we meet with the police, I will not know what he wants the money to be used for,” he added.
However, Menzgold, in an official statement, announced that the transfer of funds to the police was intended to expedite the disbursement of funds to verified clients as part of the settlement process.
Your money is gone after 1 month – NAM1 to customers
NAM1, on August 21, 2023, issued a clear warning that customers failing to verify their documents within the timeframe of August 14, 2023, to September 16, 2023, would forfeit their investments.
He emphatically emphasized that once the one-month grace period for customers to complete the verification process had elapsed, there would be no recourse for Menzgold clients to reclaim their locked-up funds.
Speaking on a Twitter Space monitored by GhanaWeb Business, Nana Appiah Mensah said, “If you don’t pass DD [due diligence] nothing can be upheld or sustained.”
“It is going through the verification process, just get a card, there is a user instruction behind the card. log on to https://www.payboy.com,” he stated.
In 2018, the Securities and Exchange Commission (SEC) directed Menzgold to halt its public gold trading activities.
The SEC cited Menzgold’s participation in acquiring and storing gold collectibles from the public, along with issuing contracts promising assured returns to clients, all without possessing the necessary license from the Commission.
This action was taken in violation of “section 109 of Act 929, with repercussions stipulated under section 2016 (I) of the same Act,” as outlined by the SEC.
Media personality Abena Moet has made a bold promise that if Stonebwoy wins a Grammy award, she will eagerly disrobe and greet him at the airport.
She expressed her immense excitement at the prospect of the dancehall musician winning the highly coveted Grammy award.
Abena Moet’s commitment follows Stonebwoy’s submission of his Fifth-Dimension album for consideration by the Grammy Academy.
While reporting this news on the Neat FM Entertainment show, she made this enthusiastic statement.
“Global Music Record label has congratulated our own superstar, Stonebwoy, for his Grammy consideration. If Stonebwoy wins a Grammy award, I’ll go naked to meet him at the airport. I mean it, I will be waving my breast put the award on it, and take it home.”
She continued by defining what she meant by a Grammy nomination and consideration.
In her words, “There is a difference between Grammy consideration and nomination but the consideration alone isn’t easy. Because consideration means that they’ve considered you as a potential nominee. So his latest Fifth Dimension Album has been considered at the 66th Grammy Awards.”
“So if he gets a nomination, some of the categories he could get consideration include, Best Global Music Album, Best Reggae album, and also the Best African Music Performance. This means he could even get three nominations,” said Abena Moet.
Nigerian singer Davido was bestowed with a chieftaincy title in Delta State. He received a king-like title a few days ago during a promotional visit to “Asaba Stadium” for his upcoming concert.
The superstar recently celebrated the birth of twins with his wife, Chioma, following the tragic loss of their son, who drowned in a pool in their Lagos apartment.
In addition to his personal news, Davido has submitted his latest song, “Feel,” for consideration at the Grammy Awards, aiming for a nomination in the “Best International Flow” category.
Merely a month after publicly announcing his separation from his wife, Bunmi, actor Bolanle Ninalowo has shared that he has discovered love once again.
He has reached out to his fans, seeking their suggestions on the best approach to take with this new love interest who has captured his heart.
Expressing his need to move forward, Bolanle emphasized that he has only one life to live. On his Instagram page, he posted, “Where are my Dr. Love’s.. I peeped her, How do I say hi!! Do I slide in her DM, do I ask her out on a date? Heck, I don’t even know what it feels like anymore! But these new wavy feelings tho! The heart is tingling, I feel a beat coming.”
Last month, Ninalowo publicly announced the dissolution of his marriage, stating that he and his wife had decided to go their separate ways due to irreconcilable differences.
Ghanaian rapper, Edem, has voiced his apprehension regarding the prevalence of gatekeepers within the entertainment industry.
He contends that these gatekeepers frequently impede the advancement of artists they are not inclined to support, often making decisions driven by emotion rather than logic.
During an interview on Metro TV, Edem disclosed that the Ghanaian entertainment landscape predominantly thrives on the exchange of favors rather than monetary value.
Many stakeholders prioritize assistance with the expectation of reciprocal favors, rather than emphasizing financial transactions.
Edem underscored the necessity for the industry to transition towards a more financially oriented discourse to encourage individuals to take their roles more seriously.
“We’re in a space where people are more emotional than value-oriented. The gatekeepers feel that if I don’t agree with you, then it means that I should use my tools. And that’s because we are not in a space where we exchange a lot of monetary value. It’s a lot of help, and I think I can do this for you and get a favor in return.
“And I think when we move away from there and begin to make sure everything is about a money conversation, then people will be more serious because you wouldn’t be a gatekeeper and I won’t offer you anything. But you know that even though I’m a gatekeeper, when I bring a million dollars for the artiste, I’m also making some,” he said.
Edem also related an incident in which he saw a gatekeeper obstructing Dancehall artist Shatta Wale’s performance at an event by claiming there wouldn’t be enough demand for tickets. The gatekeeper, on the other hand, suggested a preferred artist.
“I’ve seen a conversation between a gatekeeper and a group of people who wanted to bring Shatta Wale to an event. The person straight up told them, ‘You know what this stadium event is 20 Ghana cedis, so he wouldn’t be able to sell out.’ Immediately, the gatekeeper brought in an artistE of their interest.” he stated.
Additionally, Edem said he had seen budgets giving $5,000 to international DJs—a number he thought had never before been given to a Ghanaian DJ.
He maintained that he would be happy to provide proof of these crimes when the time came.
“And my name also came up in that meeting without a person knowing that I was in the back of that conversation. And so I saw it. And I’ve seen budgets where people here are giving outsiders $5,000, a budget for a DJ. I don’t know which Ghanaian DJ has been paid that money before, so the gatekeeper stuff is real. “And all what I’m saying if somebody doubts me, I have screenshots,” he revealed.
Talentedcomedian and music executive, Bright Okpocha, known as Basketmouth, has expressed his concern over the significantly increased costs of music video production in Nigeria.
He mentioned that the industry-standard fee was originally 7 – 7.5 million Naira, but it has now surged to 27 – 30 million Naira.
As a result of the escalated costs, he opted for a low-budget video for ‘Party,’ the leading track from his upcoming album, ‘Uburu.’
Basketmouth highlighted that, had he not worked with a reduced budget, he would have had to allocate a substantial sum of around N25 million or more to produce a standard video.
He conveyed these observations during a recent interview with The Beat 99.9 FM in Lagos.
He said, “The visual we have for my song ‘Party’ with Peruzzi is not an official video. It’s just like a holdup because I did not know that the economy has hit us that bad. 2 years ago, I used to make videos for 7 – 7.5 million Naira. Now, it is 27 – 30 million Naira.
“I’m an Igbo man so the first thing I thought about was, ‘Okay Bright, if you’re spending N25m on visuals, it’s for uptick, right? Then do a holdup video, do something for uptick as well.’”
Medeama SC head coach, Evans Adotey, has revealed that he asks himself questions on how to combine playing in three different competitions.
The Ghana champions will be taking part in the group stage of the CAF Champions League as well as trying to defend the Ghana Premier League title and fighting for honors in the Ghana FA Cup.
Ahead of their league game against Dreams FC this weekend, Adotey said he questions himself on how to go about all three competitions but added that his focus now is on the league.
“I keep asking myself questions as to how to go by the three slots, but as a coach, we need to look at the situation one at a time, so as I’m speaking, all focus is on the Betpawa League.
“Come this weekend, Medeama is getting ready to play as a guest of Dreams FC so preparation is intact as I speak.”
Accra Lions’ Head Coach, Ibrahim Tanko, has expressed deep concern about his team’s inability to secure a victory at home since the commencement of the 2023/24 Ghana Premier League season.
This concern arose following the team’s Week 6 match against Real Tamale United, which ended in a 3-1 loss for the Lions.
In a post-match interview, Coach Ibrahim Tanko lamented the poor performance of his team at home, emphasizing the unfortunate fact that they have failed to secure a win in all three home games played so far this season.
“It’s very unfortunate for us. We have played three games here and zero points. That is very bad for us,” Coach Ibrahim Tanko said.
Despite his concerns, the Accra Lions’ manager remains optimistic that his team will make progress and soon begin to secure victories.
He assures fans that the team will maintain its dedication in training and rectify any errors as the league progresses.
“But we are a young team and we have to keep on working and hope that we find a win soon. We are a young team. We have to continue working and definitely better times will come. I will talk to the players, we will watch the videos, and correct our mistakes. That’s the best way to go,” Coach Ibrahim Tanko said.
Former Ghanaian international, John Paintsil, has advised the Black Stars to exercise caution when facing Cape Verde and Mozambique rather than Egypt.
Ghana has been grouped with these nations in Group B for the upcoming 2023 Africa Cup of Nations (AFCON) to be hosted in Ivory Coast next year, alongside seven-time African champions, Egypt.
Despite sharing the group with Egypt, Paintsil believes that Ghana should primarily concentrate on the underdog status of Cape Verde and Mozambique, rather than being overly concerned about the potential threat posed by the Egyptian team.
The former West Ham United defender emphasized that it is essential not to overemphasize Egypt’s perceived strength.
“It’s a very good group and looking at Ghana’s form now, the last time they lost a match was during the World Cup which they have kept till now and the Egypt we knew is not the same Egypt we see today so for me Ghana stand a chance of coming out of the group,” Paintsil, who represented Ghana in six AFCON tournaments between 2002 and 2013 told Graphic Sports.
”For me, the other two teams — take Egypt out — are the most dangerous teams. Cape Verde and Mozambique are the teams that can pose a threat to Ghana because it is very difficult to play against these teams,” he added.
In the meantime, the Black Stars are set to kick off their campaign with a match against Cape Verde at the Stade Felix Houphouet-Boigny in Abidjan on January 14, 2024. Their second group game will see them face the seven-time tournament champions, Egypt, also at the Stade Felix Houphouet-Boigny in the Ivorian capital on January 18, 2024.
The final group match, coinciding with another group fixture, is scheduled against Mozambique at the Stade Alassane Ouattara in Abidjan four days later. The Black Stars aspire to end a four-decade-long drought by clinching the ultimate title at the upcoming tournament in Cote d’Ivoire next year. The last time Ghana secured victory at the Africa Cup of Nations was in 1982.
The 34th edition of this premier African sporting event will be held from January 13 to February 11, 2024, across various cities including Abidjan, Yamoussoukro, Bouake, San Pedro, and Korhogo.
West Ham United manager, David Moyes, has suggested that Mohammed Kudus is on the verge of earning a starting position in the English Premier League.
Moyes made this statement in anticipation of their upcoming Premier League encounter against Aston Villa at Villa Park later today.
Despite delivering an impressive performance in the Europa League, the 23-year-old Ghanaian has yet to secure a starting role in the Premier League.
Kudus scored his first goal in the English topflight league as a substitute in the 2-2 draw against Newcastle United after joining West Ham from Ajax Amsterdam during the summer transfer window.
“He is very close to playing,” he said, as quoted by whufc.com. “But to be fair to him, he was close when he arrived. Sometimes players come in at different levels of fitness and you need time to figure out where they are at, but Mo could play now and he has been playing.
“He’s been playing for Ghana and he came off the bench [against Newcastle] and made a brilliant impact for us, and that’s what we need. We need more than eleven players. We need a group of players who, when called on, can make a difference,” he added.
A deadly clash in the Ashanti Region involving groups from the Pankrono and Adabraka communities resulted in the tragic killing of a 27-year-old man in Tafo-Pankrono.
The victim, Owusu Banahene, passed away on October 18, shortly after he was discovered near a public toilet in the area and rushed to the hospital.
Although the police are presently investigating the exact cause of his death, the deceased’s family suspects it may be related to an ongoing conflict between rival youth from Adabraka and Pankrono.
Owusu Banahene’s untimely demise, particularly since he had plans to return abroad on Friday, has stirred strong emotions within the Pankrono community.
His family is demanding the apprehension and prosecution of all individuals involved in the incident that led to his tragic death.
Insiders from these communities have cited increasing drug abuse among the youth as a contributing factor to the recurring conflicts.
They express frustration with the continuous clashes and the apparent absence of resolution, noting that these issues have persisted for generations.
The residents being furious and disheartened by the incident,stated “we will not let it slide unless one of them dies too. The deceased was set to travel to Canada today, and all the necessary preparations were in place. The next day, he was fatally stabbed over a neighborhood dispute.”
Despite their attempts to engage the police, they believe that those accountable for the disruptions frequently manage to evade appropriate repercussions.
For the time being, the police have taken charge of the Pankrono and Adabraka communities to prevent potential retaliatory actions.
Speaker of Parliament, Alban Bagbin, has characterized the ongoing ambulance case trial and the prosecution of the Minority Leader, Dr. Cassiel Ato Forson, as a form of ‘persecution.’
In his view, this represents a risky undertaking by the government, one that may or may not yield success. While the Speaker does not condone violations of Ghanaian laws, he advocates for their equitable application rather than selectively targeting political adversaries.
Mr. Bagbin shared these remarks during his visit to the family of the late former Majority Leader, Felix Kwasi Owusu-Adjepong, to express his condolences on Thursday, October 19.
“The Minority Leader, unfortunately, is being persecuted so on a number of these occasions he can’t be with us because he is appearing in court, as of now, he is in court being tried. It is not that we don’t want the rule of law to apply, we all want it to apply, but where prosecution is just a gamble, ‘I may win or I may not win, but let me do it’, I will not prescribe that for any politician because as a leader you always have to take the risk, you could get it right, you could get it catastrophically wrong.”
Speaker Bagbin
“Could you be prosecuted because of that? Then there will be tribulation, nobody will have the courage to come out boldly and take decisions where things are really hard.”
“These are some of the things that we have to take on board as we continue to work together in Ghana. It happens all over the world, it is not only in Ghana, these things happen worldwide, you can go to the UK and, the US, and they don’t go into prosecution, there are other ways of handling these things. He has been absent the day we were going to President Kufuor’s place he was in court, and today too he is in court.”
In the meantime, the former Finance Minister, Seth Terkper, appeared in court on Thursday, October 19, to provide testimony on behalf of the defendants.
During his appearance at the Economic and Financial Court in Accra, he confirmed that he had granted full authorization to his then Deputy, Dr. Cassiel Ato Forson, to correspond with the Bank of Ghana.
This correspondence aimed to request the establishment of Letters of Credit in favor of Big Sea General Trading Ltd of Dubai, for the procurement of 30 ambulances.
Former Finance Minister, Seth Terkper
During his testimony in the case, Mr. Terkper informed the Court that the authorization for the accused to initiate the request for Letters of Credit (LCs) was granted during a special management meeting that he presided over at the Finance Ministry.
He explained that this directive was issued in response to a legal opinion from the Attorney General and the Ministry’s legal department. The objective was to ensure the execution of a contract between the Government of Ghana and Big Sea, which involved the supply of 200 ambulances. This measure was taken to prevent the government from incurring a judgment debt in case Big Sea initiated legal action due to substantial delays and breaches of the contract.
Mr. Terkper refuted claims made by the current Attorney General that Dr. Ato Forson had set up the LCs without proper justification and authorization, stating that such allegations were baseless.
Background Dr. Ato Forson, along with two co-accused individuals, Sylvester Anemana, a former director of the Ministry of Health, and businessman Richard Jakpa, are currently facing trial on charges of alleged financial loss in relation to the procurement of ambulances during Dr. Forson’s tenure as Deputy Finance Minister.
The Attorney General asserts that the state incurred a loss of €2.37 million as a result of the purchase of these ambulances, which were later found to be defective. All three defendants have entered pleas of not guilty.
Chief Justice Gertrude Torkornoo has provided counsel to the recently inducted lawyers, encouraging them to uphold the ethical principles of the legal field and exemplify the expected conduct of legal professionals.
Commemorating the 60th induction ceremony for 1097 new lawyers who passed the bar exams at the Accra International Conference Centre, Justice Torkornoo underscored that their integrity would play a pivotal role in shaping their achievements in the legal profession.
She conveyed, “As lawyers, you will need to be part of the conduit through which justice is served and delivered in this complex environment.”
The Chief Justice emphasized that lawyers’ communication, active listening, information management, and relationship skills will define the legacies they establish in their professional journeys. She stressed that a lawyer’s personal reputation is their most invaluable asset.
Additionally, she encouraged all legal practitioners to construct a robust career based on trust, honesty, and a steadfast commitment to the ethical principles of the legal field.
Former General Secretary of the Christian Council of Ghana, Rev. Dr. Kwabena Opuni-Frimpong, insists that the consultants responsible for the Akosombo Dam spillage must be held accountable for the extent of the damage.
The Volta River Authority (VRA) initiated the controlled water release from the Akosombo and Kpong Dams on September 15, 2023, in response to a continuous increase in the inflow pattern and water level of the Akosombo reservoir.
The spillage has resulted in thousands of residents in South Tongu, North Tongu, Central Tongu, Asuogyaman, and various other areas witnessing the submersion of their homes.
Rev. Dr. Opuni Frimpong told Citi News in an interview that: “we need to find out who were the consultants who did the feasibility studies and which impacts were they expecting for this spillage.”
“And I believe some people must accept responsibility for what people are going through at the moment in parts of Ghana. We need to let people take responsibility for their actions. We cannot let this pass,” the man of God said.
The Ghana Revenue Authority has clarified its stance on imposing taxes for the mining company transferring ownership of two helicopters to the Kwame Nkrumah University of Science and Technology (KNUST).
The authority’s rationale behind this decision is to prevent tax evasion and dissuade other organizations from pursuing similar practices.
It was outlined that the helicopters were initially brought into the country under the Temporary Admission Regime, exempt from tax payments at the time. However, with the transfer of ownership to a new entity, in this instance, KNUST, the company is now liable for taxes.
Read the full statement below
For the incident in question, the mining firm brought in the two helicopters in 2020 under the Temporary Admission Regime, which requires that they be re-exported after the agreed period.
If the firm wishes to transfer the ownership of the helicopters to a third party (Kwame Nkrumah University of Science and Technology), they are required to pay the appropriate taxes and duties before handing them over to KNUST.
This will prevent the possible abuse of the Temporary Admissions Regime by importers who apply for the waiver of duties but resort to donating the equipment as scrap as a way of evading payment of taxes.
The attention of Management of the Ghana Revenue Authority (GRA) has been drawn to an online publication on, “GRA halts two helicopter ‘gifts’ to KNUST over taxes” Management of GRA would like to use this opportunity to react as follows:
1. Section 75 of the Customs Act 2015, (Act 891) refers to temporary admission, as a Customs procedure that allows goods to be temporarily brought into the country for a specific purpose without the payment of import duties or taxes. This procedure is designed to facilitate international trade, reduce cost, and promote temporary cross-border activities.
2. Goods that are temporarily admitted into the country under this regime are expected to be re-exported within a certain timeframe, usually 90 days or a specific period for activities such as trade shows, exhibitions, repairs, or other temporary uses. Appropriate documentation, including a Customs declaration, is required to initiate the temporary admission process. These documents specify the intended use and the expected re-exportation date. Failure to meet this deadline will result in the payment of the “suspended” import duties and taxes.
3. The Customs Division requires a guarantee / security such as an insurance bond or deposit, to ensure revenue is not lost if the goods or items in question are not re-exported.
4. All countries including Ghana, impose restrictions on the types of goods that can be temporarily admitted and the purposes for which they can be used. As such, Customs procedures for temporary admission come with conditions that vary from country to country. Non-compliance with the terms of temporary admission can further result in sanctions, such as fines or forfeiture of the goods to the State.
5. For the incident in question, the mining firm brought in the two helicopters in 2020 under the Temporary Admission Regime, which requires that they be re-exported after the agreed period. If the firm wishes to transfer the ownership of the helicopters to a third party (Kwame Nkrumah University of Science and Technology), they are required to pay the appropriate taxes and duties before handing them over to KNUST. This will prevent the possible abuse of the Temporary Admissions Regime by importers who apply for the waiver of duties but resort to donating the equipment as scrap as a way of evading payment of taxes.
6. Furthermore, KNUST has not imported any equipment into the country and therefore is not liable for import duty or taxes.
7. Management of GRA further uses this opportunity to entreat all importers and the general public to comply with the Tax Laws and procedures to ensure smooth trade facilitation and maximizing revenue for national development. GRA is also committed to supporting Government’s agenda of enhancing education at all levels and would do all it can within its mandate to support education. FLORENCE ASANTE (MRS.) ASSISTANT COMMISSIONER, COMMUNICATION & PUBLIC AFFAIRS
