The Chief of the Air Staff (CAS), AVM Bekoe, has encouraged eight officers who are embarking on the “Basic Air Traffic Control Course” in South Africa to give their utmost effort and strive for excellence.
He emphasized the importance of this phase in their careers, noting that it would significantly expand their knowledge and expertise.
“I believe that, the exposure you will gain on this course will enhance your skills and enable you to tackle challenging situations with a global perspective. This will enable you to perform your duties effortlessly in ensuring the safety and efficiency of air travel” he underscored.
AVM Bekoe delivered these remarks on Friday, October 6, 2023, during a meeting at the Air Force Headquarters with the eight Air Force officers who are preparing to embark on their overseas “Basic Air Traffic Control Course.”
Furthermore, the CAS emphasized that the officers should recognize the broader scope of their roles, extending beyond the military sphere. He urged them to serve as exemplary ambassadors for their nation while in South Africa.
In response, the officers expressed their heartfelt appreciation to the Chief of the Air Staff for the invaluable opportunity to acquire knowledge that would contribute to their personal growth and professional advancement.
They conveyed their unwavering commitment to remain dedicated to their studies and aspire to become outstanding air traffic controllers.
A visually impaired political activist, Duodu Bulgaria, has seemingly noted that Assin Central MP, Kennedy Agyapong, has a slim chance of being successful in his quest to become the New Patriotic Party’s (NPP) flagbearer and subsequently president of the Republic of Ghana.
In an interview on TV Ghana, the visually impaired historian, who did not point fingers, said Ghana will not be governed by a tyrant, as it would be against the will of God.
According to him, the country deserves to be governed by an individual who accords all the needed respect, irrespective of their background or social standing.
“I don’t want a president who does not respect people. I don’t want a president who would say, that blind person. I don’t want that kind of leadership because the visually impaired are not amputated; we can vote.
“Maybe if you become a flagbearer, there could be some delegates who cannot see. So I don’t want a disrespectful president or someone who talks anyhow. The God I serve, I know he will never give us a tyrant leader. A tyrant will never become the leader of this country,” he said.
Although Duodu Bulgaria did not categorically name an individual, recent commentary in the country’s political space suggests that Ken Agyapong is the man he talks about.
The presidential candidate, due to his track record, is known to be a no-nonsense man who does not mince his words in reaction to an issue he disagrees with.
He has also earned the reputation of going after journalists following his public backlash against Tiger Eye journalist Ahmed Suale.
During the NPP’s super delegates conference, he threatened to give Vice President Dr Mahamudu Bawumia, a presidential candidate, and his boss, President Akufo-Addo a showdown over maltreatment against his agent.
Ahead of the party’s NPP Primaries, the Assin Central MP has had fierce disagreements with the party’s Ashanti Regional Chairman, Antwi Boasiako, popularly known as Chairman Wontumi.
Fixing the Country Movement’s intention to picket at the office of former President John Dramani Mahama over the Airbus scandal has been described as needless by one Baako.
Fixing the Country Movement seeks to embark on such an initiative due to the lack of progress in the Airbus corruption investigations involving the former president.
This comes after the Office of the Special Prosecutor (OSP) was petitioned by Deputy Director of Communication of the governing New Patriotic Party (NPP) Ernest Owusu Bempah to speed up its investigations into the Airbus bribery scandal.
But there has been no update yet, hence the movement’s decision.
Mr Baako believes thronging the office of former President Mahama is a wrong call, as the OSP should rather be held accountable for the progress of the case. He therefore questioned the motive of the protest.
In a message read out by host of Peace FM’s Kokrokoo’s show, Kwame Sefa Kayi, Mr Baako wrote: “Why picket the Office of former President Mahama when your concern is about the pace of investigations into the Airbus saga. Shouldn’t the Office of the Special Prosecutor be your focal point, if any? Picketing the former President’s Office is to embark on a journey to a wrong destination. Needless indeed.”
Background
The Airbus scandal is one of many cases former Special Prosecutor Martin Amidu started investigating.
Former President, John Dramani Mahama and his brother, Samuel Mahama were identified by Mr Amidu as subjects of this inquiry.
Airbus SE, a global aircraft provider based in France, agreed to pay hefty fines totaling more than $3.9 billion to resolve foreign bribery charges.
The charges were brought forth by authorities in the United States, France, and the United Kingdom, stemming from the company’s scheme to bribe government officials and non-governmental airline executives worldwide.
As part of the global resolution, Airbus also entered into a deferred prosecution agreement with the United Kingdom’s Serious Fraud Office (SFO) over bribes paid in several countries, including Ghana.
The investigation revealed that Airbus engaged in a scheme from 2008 to 2015, offering and paying bribes to decision-makers and influencers to gain improper business advantages.
Of particular concern to the movement is the revelation that Airbus employed intermediaries, including renowned British actor Philip Middlemiss and John Mahama’s brother Samuel Adam Mahama, to facilitate the sale of military transport aircraft to Ghana.
The British and American authorities’ court records indicate that Airbus sought to obtain an “undue favor” from a member of the Ghanaian government, identified as “Government Official 1.”
The issue has become topical recently following President Akufo-Addo’s comments at the 2023 Ghana Bar Conference in Cape Coast.
According to the president, former president John Dramani Mahama has been identified as “Government Official No.1” in the scandal.
“Not only are these concepts of “NPP” and “NDC” judges new in our public discourse, they are also extremely dangerous, and represent the most brazen attack on the independence of the judiciary by any allegedly responsible politician of the 4th Republic.
“They provide another reason, if more were needed, why right-thinking citizens should ensure the defeat in 2024 of the man whom the first Special Prosecutor identified as Government Official No.1, in the still unresolved Airbus Bribery Scandal,” President Akufo-Addo said.
Wesley Girls’ High School dealt a huge blow to St. Peter’s SHS on Monday, October 9, in the ongoing 2023 National Science and Maths Quiz (NSMQ).
Wesley Girls’ High School, St. Peter’s SHS and Louis Rutten SHS while at the preliminary stage, fought for a spot at the one-eighth stage.
St. Peter’s SHS, due to its commendable track record, was expected to emerge victorious, but the school fell short.
Nana Adjeiwaa Adjei Twum and Prisca Adwoa Dufe Yeboah of Wesley Girls’ High School rose to the occasion and secured 52 points to move to the next stage of the competition.
St. Peter’s SHS and Louis Rutten SHS ended the contest with 37 and 19 points, respectively.
St. Peter’s SHS has however noted ended its quest to claim this year’s trophy, just like last year.
This is because the 12 top runners-up at the end of the preliminary stage will progress to the one-eighth Stage.
St. Peter’s SHS during the 2022 NSMQ contest was beaten and sent to regionals by St. James Sem. SHS. They were beaten at the one-eighth stage and failed to secure a spot in the quarterfinals.
Musician, Kwame A-Plus, has lashed out at the Head of Corporate Communications, Ghana National Gas Company, Mr Ernest Owusu-Bempah Bonsu, for allegedly orchestrating the unathorised intrusion of UTV.
A group affiliated with the New Patriotic Party (NPP) stormed the UTV studios last Saturday, October 7, 2023, during the live broadcast of its entertainment program, United Showbiz shortly after it commenced.
The show then abruptly went off air while commercials filled the screen. The group trooped in to demand the removal of Kwame A-Plus, from the programme for tearing up a letter said to be from the communication wing of the NPP.
Videos of the incident went viral on social media, with many condemning the intrusion, while others questioned the state of security at the media house.
Reacting to the incident, Kwame A-Plus revealed that he had received word that Ernest Owusu-Bempah led the group to the media house.
Peeved by this news, A-Plus used slanderous words against the Ghana Gas worker and threatened to deal with him should such a thing recur.
“I’ve heard that Ernest Owusu-Bempah was the one who sent the boys here. That is what I’ve heard. I’m just hoping that it is not true. But if it is true, it took him two weeks to organize those people. I came here with three pick-ups of boys. It took me less than 30 minutes to call boys to UTV.
“Owusu Bempah, of you do that thing again I’ll organize boys and I’ll bring them to Ghana Gas. I’m telling you this. When we were campaigning for Akufo-Addo you were an NDC member. You were following Nana Konadu. He is a very stupid boy. When we campaigned for Akufo-Addo you were not part of it.
“And he has been making calls and threats everyday. I’m not afraid of him. I’m warning Owusu Bempah, in this country called Ghana, the very person who attacks NPP is Honourable Kennedy Agyapong. He can call the Vice President and the President tell them that he will give them a show down. And you stupid boy, none of you have been able to attack him and you can come here and think that we are scared of you, he said.
A-Plus issued the threat on UTV after the anauthorised intrusion was addressed.
Meanwhile, the ruling New Patriotic Party (NPP) has distanced itself from the invasion of UTV studios by some of its members.
In response to the brouhaha, the leadership of the New Patriotic Party has rendered an apology to UTV, noting that it would cooperate with the police to investigate the matter.
Director of Communications for the NPP, Richard Ahiagbah, who engaged the press noted that the party did not sanction anyone to go and disrupt the United Showbiz programme.
He is quoted to have said “We think that the attack is unacceptable, and it’s condemnable.”
On the other hand, 16 individuals said to be involved in the attack have been arrested.
Chemu SHS emerged victorious in today’s preliminary stage contest against St. Paul’s SHS, Denu and Hope College in the ongoing 2023 National Science and Maths Quiz (NSMQ).
With a total of 50 points, Chemu has advanced to the one-eighth stage of the contest.
Its closest contender, St. Paul’s SHS, Denu secured 31 points, whereas Hope College ended up with 29.
Chemu SHS was represented by Aphet Fosu Mintah and Justice Sarpong Frimpong.
However note that the 12 top runners-up at the end of the preliminary stage will progress to the one-eighth stage.
How the various rounds went;
End of Round 1
Chemu SHS: 17pts
Hope College: 10pts
St. Paul’s SHS, Denu: 09pts
End of Round 2 (Speed race)
Chemu SHS: 22pts
Hope College: 15pts
St. Paul’s SHS, Denu: 11pts
Problem of the day
Chemu SHS: 09pts
Hope College: 07pts
St. Paul’s SHS, Denu: 07pts
End of Round 4 (True or False)
Chemu SHS: 41pts
St. Paul’s SHS, Denu: 31pts
Hope College: 26pts
End of Contest (Riddles)
Chemu SHS: 50pts
St. Paul’s SHS, Denu: 31pts
Hope College: 29pts
Standing of the Top Runners-up at the Preliminary Stage (Updated – October 8, 2023)
A report by the United Nations Children’s Fund (UNICEF) and the Girls Excellent Movement (GEM) has revealed 45.7% of female students in Senior High School (SHS) between the ages of 11 and 16 were sexually assaulted.
The report, titled: “Sheltered yet Exposed,“ said 54.3% of those girls were between the ages of 17 and 22.
The act of sexual harassment in SHS is often perpetrated by various individuals, including friends, family friends, schoolmates, teachers, and strangers, according to a report. The breakdown of those involved is as follows: friends (24%), family friends (12%), schoolmates (12%), teachers (10%), and strangers (9%).
Madam Juliana Ama Kplorfia, Founder and Executive Director of GEM, disclosed these findings at a stakeholder engagement event held in Accra. The event, organized by the Center for Social Justice (CSJ) with support from the Friedrich Ebert Stiftung, Ghana, aimed to address sexual harassment in SHS and the roles of various stakeholders.
Madam Kplorfia further revealed that other groups contributing to sexual assault against female students in SHS included uncles, cousins, neighbors, fathers, and father-in-laws.
The report also highlighted that besides sexual assaults, female students also experienced other forms of gender-based violence, such as physical assault, bullying, verbal assault, and harassment.
Madam Kplorfia emphasized that the main reasons females fell victim to these various forms of assault were academic, financial, and mental challenges. She noted that many victims suffered from depression, trauma, bipolar disorder, anxiety, and panic attacks, which sometimes led to them dropping out of school.
She called on the Ministry of Education and the Ghana Education Service to adequately resource the counseling units in schools to effectively address these issues. Madam Kplorfia also urged parents and guardians to closely monitor female students in schools and ensure they had positive role models, as some became targets of sexual assaults due to negative influences.
Furthermore, she appealed to the government to make medical reports for rape and sexual harassment free of charge and advocated for the removal of taxes on sanitary pads, suggesting that they should be supplied to schools at no cost.
The 2023 National Science and Maths Quiz (NSMQ) is presently in its preliminary phase, where exceptional schools vie for a spot in the one-eighth stage.
One of the three competitions this morning features Achimota School, Notre Dame Girls’ SHS and St. Francis Girls’ SHS.
Achimota School is recognized as formidable among the three due to its previous appearances in the senior stage of the contest.
A JoyNews exposé has unveiled a cartel comprising individuals who work for the Electricity Company of Ghana (ECG) and security personnel engaged in the fabrication of documents to illicitly sell unapproved meters to potential consumers.
The group inflates prices. A meter, which costs a little over GH¢800, is being sold for as much as GH¢2,500.
In this exposé, conducted by JoyNews’ Kwetey Nartey, it was revealed how the actions of these individuals enable certain power consumers to enjoy electricity without ECG’s knowledge in various parts of the country.
This revelation follows concerns raised by Samuel Dubik, the Managing Director of ECG, who highlighted that illegal power connections result in power consumers losing GH¢2.8 billion.
Due to a convoluted process and a shortage of meters, fraudulent practices and syndicates have emerged. These groups are primarily composed of intermediaries, some corrupt ECG employees, contractors hired by the power distributor, and even private security guards stationed at ECG offices.
Their illicit activities have resulted in the widespread proliferation of counterfeit meters throughout the country.
Kofi Danso, the Ashanti Regional Revenue Protection Manager, acknowledges that the use of fake meters has become a major challenge that they are tirelessly working to combat.
A recent initiative aimed at registering and linking meters to the ECG database in the Kwabenya district uncovered a staggering 15,000 users who were consuming electricity without contributing any payment to the state. This revelation has left the Managing Director of ECG, Samuel Dubik Mahama, deeply concerned.
While ECG’s losses are estimated at GH¢2.8 billion due to illegal power connections, the culprits behind this detrimental activity have managed to remain largely anonymous.
In an effort to shed light on the issue, the investigative team from JoyNews visited ECG offices in three regions to assess the extent of this problem.
During a visit to the Accra East Regional Office and the sub-transmission office near Makola, Kwetey Nartey encountered Abraham, an ECG employee working in the meter department. He disclosed that a meter, typically priced at GH¢800, would cost me GH¢2,000.
Abraham also showed documents he had processed for another customer and was willing to transfer them to him, provided he paid the specified amount.
IG: What was the price you quoted for the meter you are trading?
Abraham: It will cost you GH¢2,000.
IG: Is it possible to reduce the amount being charged?
Abraham: No
IG: In what form should the transaction take? I will pay GH¢1,500, and pay the balance when the meter is fixed.
Abraham: That shouldn’t be a challenge.
Abraham advised that if he followed the established process, he would have to wait for almost a year to get the meter.
He, however, promised that he could assist get a meter if one paid just a little more than the statutory fees to him.
He boasts of helping many individuals struggling to secure such meters at ECG offices. In Abraham’s confession, three prospective customers will soon be beneficiaries of these meters he is working on after they paid GH¢2,000.
Abraham: These meters belong to other prospective consumers. There are challenges with the network connection, that problem has been persisting for some time now. If I don’t fix it before I hand over the meter to the customer, they will struggle with purchasing power. I will give you an official receipt, I don’t like swindling people I deal with.
Abraham is not the sole individual involved in the meter supply business. At the Kwabenya office of the ECG, there is another individual identified as Jerry who operates within this trade.
This is the exact district where the ECG identified over 15,000 customers who were using power illegally. Jerry promised he would help acquire a meter. He asked the investigator to pay GH¢2500.
After part payment was made to Jerry, he delved a bit deeper into how he gets meters for people like me who are in dire need of a meter but are unable to wait for months before they would be assigned one.
Jerry: I have explained the challenges with the system already.
IG: I would be glad if you reduced the cost being charged.
Jerry: When I deal with anyone I encounter, I want to deal with them in a mutually beneficial way. Securing a meter in recent times, is quite difficult. I will make sure I get you a functional meter.
IG: I would appreciate it if you would reduce the amount being charged to me. At least take GH¢200 off it. When will I get the meter?
Jerry: Give me two weeks, and come for it.
Jerry and his accomplices transfer the transaction details of another prospective customer to those offering to pay more for meters.
Jerry: I need more money to facilitate the process.
IG: How much would you need?
Jerry: Make an additional GHc500 cedis on the initial money you have given.
IG: I will provide the balance payment when I come for it.
Jerry: That wouldn’t be helpful. I need to fast-track it.
IG: Would I get the receipts for the transaction?
Jerry: No, it would be in someone’s name.
At the Achimota ECG office, I came across this ECG contractor he gave his name as Sammy. He blamed the difficulty in acquiring meters on the shortages in the system. He also charges at least GH¢2,500 to provide separate meters.
Sammy: There is a colleague who has a single phase meter, but, he is charging GH¢2,500.
IG: I was informed the amount usually charged is GH¢1,500.
Sammy: The meters are scarce. Who is your brother? Is he an electrician?
IG: Yes.
Sammy: He requested three sets of meters and payments have been made already. The only challenge is, we haven’t received supplies yet. With regard to the meter I am making reference to, the individual will fix it for you in no time.
The meter he is transferring to your home belongs to someone. Acquiring a meter through the right process takes quite some time, if only you are willing to wait, you can explore that option.
IG: If I want to use the right process to acquire the meter, how much am I likely to spend? Sammy: You will pay at least GH¢1,500.
IG: How long will it take for me to get such a meter?
Sammy: I wouldn’t be able to say, you can only count on hope because it doesn’t take much effort to process the documents requesting for a meter.
IG: Why are we facing this challenge with meter shortage?
Sammy: We have an inefficient head leading ECG. How can a 33-year-old young man lead the ECG and run it efficiently?
In the Eastern regional capital of Koforidua. This middle-aged man gave his name as Seth at the ECG office there. He charges GH¢1,500 for the unauthorized meter.
He claims GH¢1,200 of the money goes into processing and documentation and the remaining GH¢300 pay persons he described as his superiors who facilitate the acquisition.
Seth: I need to pay some monies to the boss at the helm of affairs to facilitate the speedy release of the meter for you. I prefer working diligently and being rewarded afterwards.
IG: I would want to know how much it will cost in entirety to secure a meter.
Seth: What work do you do?
IG: I am a teacher at one of the private schools.
Seth: Make a budget for GH¢1,500.
The suspects in this trading of fake meters stretch beyond the staff of ECG and the Energy Commission. At the ECG Ashanti SBU headquarters, the chief security officer who gave his name as George is in charge of the cartel there.
He said acquiring a meter can be a difficult task if one attempts to follow due process. He tells me he can secure a separate meter for me at a fee of GH¢2,000. This money, he claims, is paid to officials of ECG to facilitate the process.
George: How early do you need the meter?
IG: Would a month be an adequate time to get it?
George: It is not possible for me to get you a meter in a month.
IG: Would six months be enough time?
George: That should work perfectly for me.
IG: How much will it cost me then?
George: You will pay GH¢2,000.
IG: I will be glad if you can reduce the price for me.
George: That wouldn’t be possible. I don’t want to run into trouble for taking monies that cannot sufficiently do the work.
IG: How should the payment be affected?
George: Pay it in full.
After learning of the faces behind the fake meter trade and their mode of operation, I have returned to the Accra East Regional Office and sub-transmission office.
I paid the full amount requested by Abraham. He dispatched one of his team members, Simon Atanga, to fix a meter at the pseudo location I provided them. Within hours, I had a separate meter that was powering the electrical gadgets in this makeshift room.
IG: When should I expect a bill to be paid for the power I will use?
Simon: The meter reader will be here to take the readings.
IG: When exactly should I expect to see him?
Simon: Two months’ time.
I enquired from Simon while he was fixing the meter, when should I expect a bill to be brought for me to pay. He said two months, the meter readers will be right here to take the details.
The day the meter reader was supposed to show up was June 15th. However, close monitoring revealed that no meter reader was assigned to conduct this business. I removed the meter after three months of free electricity.
Meanwhile, the Managing Director of ECG, Samuel Dubik, has expressed his disappointment in the actions of his staff members but pledged to thoroughly investigate the matter. He assured that those found responsible would face appropriate sanctions.
Additionally, this investigation received partial support from the Ghana Integrity Initiative.
The Ministry of Information has strongly condemned the unauthorised intrusion on UTV studios that occurred during a live broadcast on Saturday evening by some members said to be part of the New Patriotic Party (NPP).
A press statement signed by the Minister of Information, Kojo Oppong Nkrumah and copied to JoyNews on Sunday, October 8 said, “the right to free expression and the freedom of the media are key pillars of our democracy and must be fiercely protected.”
Mr. Oppong-Nkrumah also stated that the Ministry reported the incident to the Ghana Police Service when the Media Monitoring Centre was alerted to an unauthorized intrusion into the studio by a group of individuals seeking to voice their discontent with the content of the live program.
“The Police subsequently arrested 16 persons at the premises of UTV, and investigations are currently ongoing,” the statement added.
The Minister used the opportunity to “encourage the media, especially broadcast media show hosts and panelists, to do their utmost to help promote national cohesion even as they exercise their fundamental freedoms.”
The attack on UTV has triggered widespread condemnation among the Ghanaian populace, prompting calls for swift and decisive action to hold those responsible accountable.
In response, the Ghana Police Service has already apprehended 16 individuals implicated in the attack.
This incident unfolded during the broadcast of the United Showbiz program. As the show commenced, an abrupt and disruptive commotion disrupted the proceedings, leaving viewers both surprised and concerned.
The broadcast abruptly went off the airwaves, replaced by commercials, but subsequent online videos shed light on the unsettling disturbance. A group claiming affiliation with the New Patriotic Party (NPP) reportedly stormed the UTV studios during the live broadcast. Their primary demand was an apology from one of the panelists, A-Plus, accompanied by threats.
In the aftermath of the incident, the show’s host, MzGee, issued an apology to the viewers for the disruption.
Alleged NPP thugs have stormed the studios of UTV to attack Kwame A Plus and other guests ahead of the UnitedShowbiz program. pic.twitter.com/KKQDEN6yuU
A bus transporting student-athletes from second-cycle schools in the lower mid-zone of the Volta Region experienced a fire incident at the Akatsi Agbedrafor junction last Saturday.
Fortunately, no students were harmed during the incident, but they did lose their belongings. Regrettably, the bus, which was the property of Akatsi Senior High Technical School, was completely destroyed.
The incident occurred as the student-athletes from the lower mid-south zone had gathered for the 47th inter-zonal festival held in Sogakpe.
The games concluded on Friday, October 6, 2023, with their return journey scheduled for Saturday, October 7, 2023.
Upon reaching the Akatsi Agbedrafor junction, the bus experienced a mechanical malfunction, resulting in a fire. Thankfully, all occupants were able to safely evacuate the bus without any injuries.
Notably, the student-athletes on board the bus represented Zone 9, comprising approximately ten schools.
A bus carrying athletes from the Second Cycle Schools Inter-Zonal Sports Festivals in Sogakope caught fire in Akatsi.
The late former Member of Parliament for the Ningo-Prampram constituency, E.T. Mensah, will have his remains repatriated from South Africa to Ghana on Tuesday, October 10, 2023.
Following this, a brief ceremony will be held before his body is transported to the morgue. This information was conveyed through a statement released by the Kley Abodo family on Saturday.
E.T. Mensah, who passed away at the age of 77 in South Africa last week, had been battling with poor health for some time.
Enoch Teye Mensah, born on May 17, 1946, served as a Minister for Education and held the position of a Member of Parliament in Ghana from January 1997 until January 2017.
He was affectionately known as ET Mensah and was married with seven children. Prior to his passing, he held the position of Greater Accra Regional representative on the Council of State.
Read the full statement below:
KLEY ABODO FAMILY OF PRAMPRAM, GREATER ACCRA REGION
Saturday, 7th October 2023. Prampram-Accra PRESS STATEMENT: DEATH OF HON. ENOCH TEYE MENSAH
The head of the KLEY ABODO Family of Prampram, formally announces the demise of Hon. Enoch Teye Mensah popularly known as E.T. Mensah which sad event happened on Monday, 2nd October 2023 at 1:30 am in the Republic of South Africa aged 77-years.
The late Hon. E.T. Mensah until his demise was a member of the Council of State, he was also the first National Youth Organizer of the NDC and a former Member of Parliament-(MP) for Ningo-Prampram Constituency from January 1997 to January 2017, a former Chief Executive of the Accra Metropolitan Assembly, a former minister for Youth and Sports, Employment and Social Welfare, Water Resources, Works and Housing.
His mortal remains will be received in the Country on Tuesday, 10th October 2023 at 9:15 pm at the Kotoka International Airport by the family to be conveyed to the morgue after a brief ceremony.
Further details will be duly communicated. End. Hon. Simon Kweku Tetteh, (Family Spokesperson) 0277180720, 0243180720 CC: All Media Houses
Fitch Solutions has revealed that the Ghanaian cedi is anticipated to strengthen by approximately 1.0% against the US dollar in 2024 in its latest Country Risk report on Ghana.
This projected gain positions it as one of the top-performing currencies in Africa during that timeframe.
According to the UK-based firm, the government is expected to make significant headway in the restructuring of Ghana’s external debt through the G20 Common Framework by the second quarter of 2024. This development is predicted to bolster investor confidence in Ghanaian assets, stimulate capital inflows, and provide essential support to the strength of the cedi.
“We forecast that the exchange rate will strengthen by roughly 1% in 2024 as we believe that the authorities will make progress regarding the restructuring of Ghana’s external debt under the G20 Common Framework”.
“Indeed, we anticipate that a deal will be reached around quarter 2 2024-quarter 3 2024, which will improve investor sentiment towards Ghanaian assets, drive capital inflows and provide support to the cedi.
In the past week, the Ghanaian cedi experienced a slight devaluation against the US dollar, attributed to increased domestic demand and the overall global strengthening of the US dollar.
However, a timely announcement by the International Monetary Fund Mission Team regarding a staff-level agreement with the Ghanaian government is anticipated to significantly boost investor confidence and enhance the country’s balance of payments in the future. This agreement will result in an additional $600 million inflow.
Forecasts indicate that by the end of 2024, the local currency is expected to depreciate by approximately 11.50% against the US dollar in the retail market, reaching a rate of ¢11.60 to one US dollar. This projected depreciation is notably lower than the approximately 40% devaluation observed in 2023.
Amidst the recent escalation of tensions between Israel and Palestine concerning the Gaza Strip, the Ghanaian government has reiterated its support for Israel following a deadly attack by Hamas militants on southern Israel.
Hamas militants from the Gaza Strip reportedly crossed into southern Israel, launching an assault on innocent Israeli civilians.
Israel has reported over 600 casualties and 100 abductions in the wake of these attacks.
Meanwhile, in Gaza, Palestinian officials have stated that at least 313 people have lost their lives due to retaliatory Israeli airstrikes.
In a statement released on Sunday, October 8 by Ghana’s Foreign Affairs Ministry, the government said, “Ghana unequivocally condemns the attacks and calls on the Hamas leadership to immediately cease the attacks and withdraw its militants from southern Israel.”
“While Ghana affirms its support for Israel’s right to exist and defend itself, it calls on the Israeli government to exercise restraint in its response to Hamas attacks” the statement noted.
However, the government of Ghana has issued a call for both sides involved in the Israeli-Palestinian conflict to come back to the negotiating table.
For the laudable actions of the A-ensonga Hearts Foundation, its founder, Kenndicta A-ensonga Ajene, has been nominated for the EMY Africa Youth Changemaker Award.
Today, we take a glimpse at the many works undertaken by the foundation. Pictures, they say, tell a thousand stories.
In June of this year, the Foundation extended its support to the Kunkua D/A Primary and Kindergarten (KG) Schools, situated in Kunkua within the Bongo District of the Upper East Region.
Here, the Foundation embarked on a significant project: the construction of a borehole. This borehole project was initiated in response to a specific request from the school’s management to the NGO.
Today, this borehole serves not only the 303 students attending the school but also neighboring educational institutions, including Kunkua Junior High School.
Also, A-ensonga Hearts commissioned a second borehole for Gowrie Primary and JHS.
On July 1, 2023, A-ensonga Hearts Foundation completed and donated 102 dual desks to Nabissi Primary School.
204 kids can now sit on a desk instead of the floor to learn and study for their future.
The acting President of the Sunyani Traditional Council, Nana Kwaku Sarbeng II, has expressed admiration for Vice President Mahamudu Bawumia’s conduct and demeanor in both his national and personal roles.
Nana Kwaku Sarbeng II referred to Dr. Bawumia as a “fine, fine gentleman” deserving of the accolades he receives.
Nana Sarbeng II praised the Vice President during Dr. Bawumia’s visit to events commemorating the official One Week observance for the late Nana Bosoma Asor Nkrawiri II, the Paramount Chief of the Sunyani Traditional Area, on behalf of the Sunyani Traditional Council.
Despite the Council not having officially informed the government of the chief’s passing and funeral arrangements, Dr. Bawumia visited the chiefs to offer his condolences as part of his nationwide engagements with NPP delegates in preparation for the party’s upcoming Presidential Primaries.
The Paramount Queen mother of the Sunyani Traditional Area, Nana Akosua Duaa Asor Sika Brayie II and other members of the Sunyani Traditional Council commended government for the ongoing developments in the area, and urged Dr Bawumia to remain focused and help to deliver on the promises made to Ghanaians.
“Since I have known Dr Bawumia, I have never seen him insult or attack anyone. I have never seen him even angry. He is a fine, fine gentleman, and I strongly hope that his prayers and wishes will be granted,” he added.
Vice President Bawumia was accompanied by the MP for Sunyani West who also doubles as Minister for Employment and Labour Relations, Hon Ignatius Baffuor Awuah; Minister for Health and MP for Dormaa Central, Hon Kwaku Agyemang Manu; Bono Regional Minister Hon Justina Owusu Banahene, and other party and government officials.
The late Nana Nkrawiri Ii, who ascended the throne on March 17, 1980 was born on Friday May 31, 1946 and passed on to glory aged 76 in July 2022.
President of the Ghana Network of Persons Living with HIV and AIDS, (NAP+ Ghana), Elsie Ayeh, has called on the government to scrap the various taxes placed on anti-retroviral drugs donated to Ghana.
AU Tax, ECOWAS Tax, and COVID-19 Tax have been placed on the drugs currently at the port, she said.
According to her, it is unacceptable for the government to tax drugs that the country receives as donations.
“We are calling on the government to remove that tax waiver. We know that the medication is free. Free in the sense that they were donated. Why should our country tax those medications that have come in free? That is what we don’t understand,” she said in an interview on JoyNews’ The Pulse on October 6, 2023.
“Is that tax more important than the number of PLHIV who are virally suppressed at this time who have to continue taking their medication so that we remain healthy, we don’t transmit HIV and we also enable our country to reach that target that we are all heading towards? That is AIDS-free population by 2030. We don’t want the new infections coming on board,” she further stated.
Her concern comes at a time when there is a shortage of anti-retroviral medication, specifically the Abacavir Lamivudine regimen, which is vital for Persons Living with HIV (PLHIV) nationwide.
‘We are just to go to the facility and get our medication, and that is what we confidently do every time we have to go to the clinic. And we know that these medications are at the harbour. We had talked about it, made moves to ensure that the medications were now okay for us to access but then surprisingly, it came as a surprise 2 days ago when we heard at Korle-Bu there were no medications, Abacavir Lamivudine regimen especially the which we know is among those drugs still at the harbour. Our members can’t do anything,” Elsie Ayeh said.
A total of 354,927 people live with HIV AIDS. And out of this figure, 115,235 are males, while 239,692 are females
On the matter, Director General or the Ghana Aids Commission, Dr Stephen Kyeremeh Atuahene has entreated the Ghana Health Service (GHS) to prioritize the HIV commodities to get them released immediately.
“Because there are several containers of various health commodities at the port which are in the same category of non-clearance. So it is very necessary.”
“Any break in supply of anti-retroviral medicines to people living with HIV is a serious risk to their lives and we should not do anything to undermine their lives,” he warned.
Director General of the Ghana Aids Commission, Dr Stephen Kyeremeh Atuahene, has noted that the lives of 354,927 Ghanaians are at risk owing to the shortage of anti-retroviral medication, specifically the Abacavir Lamivudine regimen, which is vital for Persons Living with HIV (PLHIV) nationwide.
A total of 354,927 people live with HIV AIDS. And out of this figure, 115,235 are males while 239,692 are females.
The Ghana Network of Persons Living with HIV (NAP+ Ghana) has reported that their members are encountering difficulties in accessing this crucial medication at hospitals throughout the country.
This report has been confirmed by the Ghana Aids Commission, who have now called on the Ghana Health Service to take immediate steps to address the problem.
The drugs needed are said to be locked up at the port. Hence Dr Stephen Kyeremeh Atuahene, has entreated the Ghana Health Service to prioritize the HIV commodities to get them released immediately by making the necessary payment.
“Because there are several containers of various health commodities at the port which are in the same category of non-clearance. So it is very necessary,” he said.
He warned that “any break in supply of anti-retroviral medicines to people living with HIV is a serious risk to their lives and we should not do anything to undermine their lives.”
Meanwhile, President of the Ghana Network of Persons Living with HIV and AIDS, NAP+, Elsie Ayeh, says her members are currently unable to take any effective step as the matter is beyond them.
She registered her displeasure over the taxes placed on the drugs. According to her, it is unacceptable as the country receives these drugs as donation.
AU Tax, ECOWAS Tax and COVID-19 Tax have been placed on the drugs currently at the port, she said.
“Our members can’t do anything. We are calling on the government to remove that tax waiver. We know that the medication is free. Free in the sense that they were donated. Why should our country tax those medications that have come in free. That is what we don’t understand,” she said.
She continued: “Is that tax more important than the number of PLHIV who are virally suppressed at this time who have to continue taking their medication so that we remain healthy, we don’t transmit HIV and we also enable our country to reach that target that we are all heading towards. That is AIDS free population by 2030. We don’t want the new infections coming on board.”
Kennedy Agyapong, a presidential aspirant for the New Patriotic Party (NPP) has noted that he holds no grudge against the party’s Ashanti Regional Chairman, Bernard Antwi Boasiako over his threat to have him arrested.
Bernard Antwi Boasiako, also known as Chairman Wontumi, has issued a warning, stating that he will seek the arrest of Kennedy Agyapong if he continues to make threats against his life.
During a press conference held in Kumasi, Chairman Wontumi expressed concern that the threats made by the Member of Parliament for Assin Central against the late Tiger Eye PI journalist, Ahmed Suale, had ultimately resulted in Suale’s death. As a result, Chairman Wontumi takes Agyapong’s threats seriously.
This development comes in the wake of Kennedy Agyapong’s accusations during his “Showdown Walk” event in Kumasi, where he alleged that Chairman Wontumi and the Vice President were responsible for undermining the NPP.
Mr. Kennedy Agyapong also dared the Ashanti regional chairman of the NPP and stated that he would give him a “showdown.”
The contention between the two individuals was raised during an interview on Starr FM.
When reminded by host Bola Ray of Chairman Wontumi’s threat to have him arrested, he said, “I forgive him.”
He, however, expressed disappointment over Chairman Wontumi’s decision to seek police assistance.
“I thought a bold man will always say that if you challenge me again or threaten me, I’m also going to face you. But if you resort to the police, it means you are a coward. Case closed. We are not going to talk about it again. I’d never call the police. I will come face-to-face and give you a showdown,” he said.
Presidential aspirant for the New Patriotic Party (NPP), Kennedy Agyapong, has cited corruption as one of the many problems the country is currently facing.
On how to tackle the canker, Mr Agyapong indicated that he would implement an approach similar to that of former Nigerian President Buhari.
This measure would entail providing a 6-month ultimatum for corrupt individuals to surrender themselves to the relevant enforcement agencies and return the monies stolen.
Following the expiration of the deadline, he notes that anyone caught will face the law.
“To be honest, my approach will be Buhari’s own. Anybody who feels that he has stolen Ghana’s money should bring it. We will give you 6 months, and if we find you, you will face the law,” he noted.
The Assin Central MP made this known in a series of tweets today on how to ensure Ghana sees significant development.
To be honest, my approach will be Buhari’s own. Anybody who feels that he has stolen Ghana’s money should bring it
We will give you 6 months, and if we find you, you will face the law.
The Minority Members in Parliament will henceforth treat the Governor of the Bank of Ghana (BoG), Dr Ernest Addsion as a person of no influence.
Minority Chief Whip, Governs Kwame Agbodza, says this decision is in response to Dr Addison’s “hooligans” term against #OccupyBoG protestors demanding his removal from office.
“He described us as hooligans, so we shall show him who hooligans are. Any business concerning the Bank of Ghana will be treated differently. We will prove to him that what we did in terms of the peaceful demonstration is in line with our democratic dispensation,” he said.
“As for us in parliament, we take note of what he is saying…Parliament will resume shortly and we have a few ideas as to how we are going to deal with the Governor. But as far as we are concerned, he is a persona non-grata and we shall treat him like that,” he added.
Dr. Addison has been cited in an interview with centralbanking.com, where he reportedly asserted that he had no intentions of resigning despite the Minority’s call for his resignation.
Dr. Ernest Addison, the Governor of the Bank of Ghana, was conspicuously absent when a delegation from the #OccupyBoG protest arrived at the institution’s premises to deliver a petition.
On October 3, 2023, a substantial group of Ghanaians, led by the Minority in Parliament, took to the streets to demand the removal of Dr. Ernest Addison, who stands accused of mismanaging the Central Bank.
The demonstrators initiated their march from Obra Spot at Kwame Nkrumah Circle, concluding at Independence Square.
Subsequently, a delegation composed of prominent NDC MPs, including Minority Leader Dr. Cassiel Ato Forson, and notable NDC figures such as National Chairman Asiedu Nketiah, proceeded to the Central Bank’s premises to submit their petition.
However, upon arrival, they were met by Wing Commander Kwame Asare Boateng (retired), the Head of Security at the Central Bank, who relayed the information that Dr. Addison was engaged with a team from the International Monetary Fund (IMF) and could not be present.
Dr. Ato Forson, the Minority Leader, expressed his dissatisfaction, deeming it a blatant disregard by the BoG Governor towards Parliament and the people of Ghana. In response, he declined to present the petition to Wing Commander Kwame Asare Boateng (retired) and declared that another protest would be organized in the days to come.
In reaction to this development, Dr. Addison asserted that “The Minority in parliament have many channels to channel their grievances in civilised societies, not through demonstrations in the streets as hooligans.”
The Minority Chief Whip says his side will adopt a stern stance toward the Governor whose remarks he deemed “unfortunate” and “loose.”
According to him, he is not to be blamed since he is under protection from his accomplices in government.
He added that “he [Dr Addison] should know that even under the best protection under the current government, a day will come that he will face proper justice of the people of this country.
“So he can be laughing at us [Minority] today, but I don’t want anybody to be discouraged. The use of peaceful protest must still be part of our political journey so that we don’t take up alternative routes that may jeopardise our democracy.”
Presidential aspirant for the New Patriotic Party (NPP), Kennedy Agyapong, is updating citizens on the measures he seeks to undertake to aid in the growth of the country if given the nod.
He hopes to address issues of tribalism, politicization, corruption, and food security.
On how to tackle corruption, Mr Agyapong indicated that he would implement an approach similar to that of former Nigerian President Buhari, where he would give the culprits a 6-month ultimatum to surrender.
For the Assin Central MP, Ghana is capable of feeding the entire continent.
Here are Ken Agyapong’s recent tweets for the past three hours:
The excessive tribalism and politicization won’t help our development. It must stop!
Assin Central Member of Parliament, Kennedy Agyapong, has denied claims suggesting that he plans to exit the ruling New Patriotic Party (NPP).
Private legal practitioner, Maurice Ampaw, has asserted that Kennedy Agyapong will part ways with the ruling New Patriotic Party following the much-anticipated presidential primaries slated for November 4.
According to Lawyer Ampaw, the presidential aspirant would only exit the ruling party if he failed to emerge as a flagbearer at the end of the day.
He noted that recent actions by Mr Agyapong indicate to him that he will join Alan Kyerematen who recently exited the ruling party owing to challenges with the electoral processes to elect a flagbearer, among others.
“I can tell you on authority that he doesn’t want to be part of NPP. He has decided, per his actions, show that if you don’t vote for him on November 4, he will leave the party and follow Alan,” he said.
In recent times, there has been bad blood between Mr Agyapong and some members of the NPP including Ashanti Regional Chairman of the New Patriotic Party (NPP), Bernard Antwi Boasiako popularly known as Chairman Wontumi.
Chairman Wontumi at a press conference in Kumasi earlier on Wednesday, threatened to cause the arrest of Kennedy Agyapong if he “threatens” him again.
In spite of all these developments, Mr Agyapong noted that he remains a member of the party, and a proud one at that.
He made this known during an interview on Starr FM.
“I am not disassociating myself from the NPP. I am still a proud NPP,” he said.
The Police Service is in search of an armed robber who operates alone in some parts of the country’s capital, Accra.
The Service in a statement, noted that its intelligence teams have been working on the matter for sometime now to get the suspect arrested and face justice.
“We will surely get him,” the Police assured.
The Police’s remarks follow CCTV footage of the robber circulating on social media. The robber surveyed the home while wielding a gun.
Meanwhile, the Police says additional security measures have also been deployed in the affected communities to prevent similar incidents.
POLICE ON MANHUNT FOR A LONE ROBBER OPERATING IN SOME PARTS OF ACCRA
The Police would like to assure the public that CCTV footages of a lone robber circulating on social media is a matter already being investigated by the Police. pic.twitter.com/AMgjBAAiVh
Presidential aspirant for the New Patriotic Party (NPP), Kennedy Agyapong, has noted that overhauling the mindset of Ghanaians will be the very first step he takes as president.
He communicated this planned initiative via a Twitter post on October 6.
He wrote: “The very day I am sworn in as president, the minds of Ghanaians will be reset.”
In earlier and subsequent tweets, the Assin Central MP spoke on a number of issues he believes are derailing the country’s progress.
He made mention of tribalism, politicization, lack of continuity and corruption.
“The excessive tribalism and politicization won’t help our development. It must stop!”
“Continuity is important for us to move in this country.”
On how to tackle corruption, Mr Agyapong indicated that he would implement an approach similar to that of former Nigerian President Buhari, where he would give the culprits a 6-month ultimatum to surrender.
Following the expiration of the deadline, he notes that anyone caught will face the law.
“To be honest, my approach will be Buhari’s own. Anybody who feels that he has stolen Ghana’s money should bring it We will give you 6 months, and if we find you, you will face the law,” he noted.
Heartfelt condolences and tributes are pouring in following the passing of Cathy, the cherished wife of Sir Alex Ferguson.
Cathy, who reached the age of 84, married the legendary Manchester United figure Alex in 1966, and their enduring companionship lasted a lifetime.
A statement on behalf of the Ferguson family said: “We are deeply saddened to confirm the passing yesterday of Lady Cathy Ferguson, survived by her husband, three sons, two sisters, 12 grandchildren and one great-grandchild. The family asks for privacy at this time.”
Cathy initially crossed paths with the former Manchester United manager, who is now 81 years old, in 1964 when he was just 23 years old. They subsequently tied the knot shortly after in 1966.
The couple has three sons: Mark, born in 1968, and twin boys, football manager Darren and Jason, born in 1972. Additionally, they have been blessed with 12 grandchildren.
Everyone at Manchester United sends our heartfelt condolences to Sir Alex Ferguson and his family on the passing of Lady Cathy.
Lady Cathy was a beloved wife, mother, sister, grandmother and great-grandmother, and a tower of strength for Sir Alex throughout his career.
The Domestic Tax Revenue Division (DTRD) of the Ghana Revenue Authority (GRA) is hopeful of generating GH¢60 million in betting tax by the end of the football season (UEFA Champions League).
Commissioner responsible for the DTRD, Edward Gyambra, made this projection after announcing that GRA generated GH¢15 million from the newly implemented betting tax within a one-month period.
“During the first month of implementation, we averaged GH¢20 million for the GGR. As for the withholding tax, we’ve just started the betting season, but during the lean season, we averaged GH¢15 million. We anticipate this to quadruple by May.”
The Ghana Revenue Authority (GRA) has introduced a 10% withholding tax on betting, with the goal of generating approximately GH¢400 million in additional government revenue.
The tax measure took effect from August 15, 2023.
This tax measure has sparked mixed opinions among the public. While some segments of the population oppose the tax, certain government officials, including Suame MP Osei Kyei-Mensah-Bonsu, support its implementation.
The Domestic Tax Revenue Division (DTRD) of the Ghana Revenue Authority (GRA) noted that it has generated GH¢15 million from the newly implemented betting tax within a one-month period.
The tax collection agency is optimistic that this figure will increase to GH¢60 million by the conclusion of the football season (UEFA Champions League).
The Commissioner responsible for the DTRD, Edward Gyambra, has conveyed his confidence in the Authority’s ability to surpass its revenue targets by the end of the year.
“We have two streams of taxes: the gross revenue tax and the withholding tax,” he explained.
“During the first month of implementation, we averaged GH¢20 million for the GGR. As for the withholding tax, we’ve just started the betting season, but during the lean season, we averaged GH¢15 million. We anticipate this to quadruple by May.”
The Ghana Revenue Authority (GRA) has implemented a 10% withholding tax on betting, aiming to generate around GH¢400 million in additional government revenue.
The tax measure took effect from August 15, 2023.
This tax measure has received divided opinions from the public. While a section of the general public is against the tax, some government officials, such as the Suame MP, Osei Kyei-Mensah-Bonsu support the implementation of the tax.
On Friday, October 6, 2023, a fuel tanker experienced a fire incident in Ayensukrom No.2, a community near Bogoso in the Prestea Huni-Valley Municipality of the Western Region.
The occurrence transpired around 9:45 AM, as reported by Francis Abeiku Yankah, the Director of the National Disaster Management Organization (NADMO).
According to Yankah, the fire initiated when the tanker’s dashboard caught fire following an impact with a speed ramp. Fortunately, the tanker’s driver escaped unscathed and promptly alerted residents in the nearby town to take refuge in a nearby village.
The driver safely parked the tanker, which was transporting diesel. Local residents joined efforts, offering water to help extinguish the fire before firefighting personnel arrived on the scene.
Firefighters succeeded in dousing the flames after approximately two hours, although the incident had already caused substantial damage to the tanker.
Thankfully, there were no reported injuries resulting from the incident. Nevertheless, the fire caused significant disruptions to the local traffic flow.
As a result, the road remained closed for several hours while firefighting teams worked diligently to extinguish the fire and address the aftermath of the incident.
The Asokwa Circuit Court has issued a 20-year prison sentence to the main suspect involved in the murder of a 35-year-old businesswoman in Sokoban, as reported by citinewsroom.com.
However, it is important to clarify that this sentencing pertains to a separate case in which the individual was found guilty of stealing a mobile phone and an amount of GHC 167,666.
The court convicted the suspect on two counts of theft after being charged with the unlawful appropriation of a mobile phone valued at four thousand Ghana cedis and the misappropriation of GHC 167,666 in cash, which belonged to the complainant, Gloria Morrison.
Gloria Morrison, a businesswoman residing in Bantama within the Kumasi Metropolitan Assembly of the Ashanti region, was the victim in this case.
Police investigations revealed that the suspect, identified as Allister John, had previously worked alongside the complainant at a Bantama hotel as a receptionist in 2022.
He left his position but returned to the establishment in July 2023.
Upon his reemployment at the hotel, Gloria Morrison requested Allister John’s assistance in adjusting her mobile phone’s settings.
However, instead of providing the requested help, he absconded with the phone. Subsequently, he gained access to the phone and utilized its mobile app to withdraw the sum of GHC 167,666 from the complainant’s bank account.
During the sentencing proceedings at the Asokwa Circuit Court on Friday, October 6th, the court took several factors into account. Notably, it acknowledged that the convict had no previous convictions at the time of sentencing.
Her Honor, Vida Yeboah, the presiding judge, also considered the convict’s age and the fact that he admitted to the charges, thereby saving the court’s time.
For the first count of stealing, involving the phone valued at GHC 4,000, Allister John received a 20-year prison sentence.
Additionally, he was sentenced to 20 years for the second count of stealing, related to the GHC 167,666 he withdrew from the complainant’s bank account using the mobile app. Both sentences are to be served concurrently.
During the court proceedings, the convict, Allister John, broke into tears, knelt down, and implored the court to reconsider the sentencing.
However, the court firmly stated that the ruling had already been rendered, and no further adjustments could be made.
Consequently, he was escorted out of the courtroom.
End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country.
The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board.
Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF’s Executive Board for discussion and decision.
– IMF staff and the Ghanaian authorities have reached staff-level agreement on economic policies and reforms to conclude the first review of the 36-month ECF-supported program. Performance with respect to the program’s targets and reform objectives has been very strong.
– Ghana will have access to about US$600 million in financing once the review is approved by IMF Management and formally completed by the IMF Executive Board. To ensure timely completion of the review, the country needs official creditors to quickly reach agreement on a debt treatment in line with the financing assurances they provided in May 2023.
– The authorities’ strong policy and reform commitment under the program is bearing fruit, and signs of economic stabilization are emerging. Growth in 2023 has proven more resilient than initially envisaged, inflation has declined, the fiscal and external positions have improved, and the exchange rate has stabilized.
Accra, Ghana: An International Monetary Fund (IMF) staff team, led by Mr. Stéphane Roudet, Mission Chief for Ghana, held meetings in Accra from September 25 to October 6, 2023, to discuss progress on reforms and the authorities’ policy priorities in the context of the first review of Ghana’s three-year program under the Extended Credit Facility. The arrangement was approved by the IMF Executive Board for a total amount of SDR 2.242 billion (US$ 3 billion) on May 17, 2023. The team also conducted the 2023 Article IV consultation.
At the end of the mission, Mr. Roudet issued the following statement:
“I’m very pleased to announce that the IMF staff and Ghanaian authorities have reached a staff-level agreement on the first review of Ghana’s economic program under the Extended Credit Facility arrangement. This staff-level agreement is subject to IMF Management approval and Executive Board consideration once the necessary financing assurances have been received. An agreement with official creditors on a debt treatment in line with program parameters would provide the needed financing assurances. Upon completion of the Executive Board review, Ghana would have access to SDR 451.4 million (about US$ 600 million), bringing the total IMF financial support disbursed under the arrangement, since May 2023, to SDR 902.8 million (about US$1,200 million).
“Faced with an acute economic and financial crisis, the authorities have adjusted macroeconomic policies, successfully completed their domestic debt restructuring operation, and launched wide-ranging reforms. These actions are already generating positive results, as growth in 2023 has proven more resilient than initially envisaged, inflation has declined, the fiscal and external positions have improved, and the exchange rate has stabilized.
“Consistent with the authorities’ commitments under the Fund-supported program, fiscal performance has been strong, and Ghana is on track to lower the fiscal primary deficit on a commitment basis by about 4 percentage points of GDP in 2023. Spending has remained within program limits. To help mitigate the impact of the crisis on the most vulnerable population, the authorities have significantly expanded social protection programs. On the revenue side, Ghana has met its non-oil revenue mobilization target. Ambitious structural fiscal reforms are bolstering domestic revenues, improving spending efficiency, strengthening public financial and debt management, and enhancing transparency.
“In light of Ghana’s compelling performance under the Fund-supported program, the critical next step is to secure an agreement with official creditors on the terms of a debt treatment consistent with the IMF Executive Board-approved program parameters and debt targets. We urge official creditors to move forward and agree on an appropriate debt treatment in line with the financing assurances they provided in May 2023.”
IMF staff held meetings with Vice President Bawumia, Finance Minister Ofori-Atta, and Bank of Ghana Governor Addison, and their teams, as well as representatives from various government agencies. The IMF team also engaged with other stakeholders. Staff would like to express their gratitude to the Ghanaian authorities and other counterparts for their continued open and constructive engagement.
The International Monetary Fund (IMF) has reached a staff-level agreement with Ghanaian authorities after conducting comprehensive discussions in Accra from September 25 to October 6, 2023.
The discussions centered on assessing progress in implementing reforms and policy priorities as part of Ghana’s economic program under the Extended Credit Facility.
This agreement, which is subject to approval by IMF Management and consideration by the Executive Board following the receipt of necessary financing assurances, marks a significant milestone in Ghana’s efforts to stabilize its economy.
Following the Executive Board’s review, Ghana is poised to access approximately US$600 million, augmenting the total financial support provided by the IMF to around US$1.2 billion since May 2023.
In the face of a severe economic and financial crisis, Ghanaian authorities have undertaken critical macroeconomic adjustments, successfully concluded a domestic debt restructuring operation, and initiated extensive reforms. These efforts have yielded positive results, including stronger-than-expected economic growth, reduced inflation, improved fiscal and external positions, and stabilization of exchange rates in 2023.
In line with commitments under the Fund-supported program, Ghana has demonstrated robust fiscal performance, working towards a significant reduction in the fiscal primary deficit by approximately 4 percentage points of GDP in 2023. Fiscal spending has adhered to program limits, with a focus on expanding social protection programs to support the most vulnerable segments of the population. Ghana has also met its non-oil revenue mobilization target.
To sustain these achievements, the next critical step involves securing an agreement with official creditors on debt treatment terms consistent with the IMF Executive Board-approved program parameters and debt targets. The IMF calls on official creditors to expedite this process, aligning it with the financing assurances provided in May 2023.
Throughout the discussions, meetings were held with key figures, including Vice President Bawumia, Finance Minister Ofori-Atta, and Bank of Ghana Governor Addison, along with their respective teams. The IMF team also engaged with various government agencies and stakeholders, expressing gratitude for their cooperative and transparent collaboration.
Member of Parliament for Assin Central, Kennedy Agyapong, has expressed the belief that the good looks of former Trade Minister Alan Kyerematen will have a broad appeal to the public.
Consequently, he anticipates that many individuals will be influenced to vote for Mr Kyerematen during the 2024 elections.
The presidential aspirant for the New Patriotic Party (NPP) made this assertion during an interview on Starr FM. In his submission, he shared a real-life story where a lady he wanted to woo voted for the late former President Jerry John Rawlings due to his looks.
“I was chasing a girl in Legon who was doing her masters. I was staying at Madina Redco flat. I am NPP. She was going to vote for Rawlings, so I asked why, and she said the man is handsome. Simple. Her reason for going to vote for Rawlings is that he is handsome.
“I am telling you (in politics looks play a role) and Alan has that personality and he is loved by people who don’t like Ken Agyapong’ style,” he said.
“Alan is calm. So Alan can sweep, those who want a handsome man. Vice President is also handsome nice but this time is not his time,” the Assin Central MP added.
Meanwhile, Mr Kyerematen has shot down claims suggesting the irrelevance of Mr Kyerematen in the NPP.
“Anyone who says Alan is not relevant to the NPP so he should go means he doesn’t like the party,” he noted.
According to him, Mr Kyerematen will poll about 10 to 15 percent of the total votes cast in the 2024 elections.
Presidential aspirant for the New Patriotic Party (NPP), Kennedy Agyapong, is confident of a strong showing by former Trade Minister Alan Kyerematen during the 2024 general elections.
Mr Kyerematen announced his exit from the NPP on September 25, revealing his decision to run as an independent candidate ahead of the country’s next polls.
Some politicians have cast doubt on a good performance by the former Trade Minister. But Mr Kennedy Agyapong thinks otherwise.
During an interview on Starr FM, the Assin Central MP noted that Mr Kyerematen will poll about 10 to 15 percent of the total votes cast.
Mr Agyapong conveyed that Alan Kyerematen’s personality will get a significant number of people voting for him.
“Alan’s personality, besides being an Ashanti, people love him. The way he is. With all due respect to Osofo Kyereabosom. He was not a politician, we didn’t know him. He came and got three percent. How can you say that Alan will not get 10-15 percent. Oh, of course.”
In response to the likes of Dr Nyaho Nyaho-Tamakloe, Paul Adom-Otchere, who share opposing views, Mr Agyapong said “They don’t get it.”
“I am a grassroots man.. It is a big problem to us. I am telling you. Anybody who says Alan is not relevant to the NPP so he should go means he doesn’t like the party,” he added.
Founding member of the ruling New Patriotic Party (NPP), Dr Nyaho Nyaho-Tamakloe has expressed doubts about Alan Kwadwo Kyerematen’s chances of winning the 2024 presidential election.
Speaking on JoyFM, Dr Nyaho-Tamakloe explained that when Mr Kyerematen announced his resignation from the NPP, he indicated establishing a movement which will be led and powered by the youth of Ghana.
However, he expressed disbelief about whether the Ghanaian youth actually supports the vision and the movement established by Mr Kyerematen.
“No, no, and no again. What even interested me was the fact that he was calling on the youth of Ghana. He says the movement belongs to the youth. Now, if you have the minds of the youth, they would have seen it long ago,” he said.
Finance Minister Ken Ofori-Atta has noted that the local currency has been relatively stable so far this year against foreign currencies.
At a news conference hosted by the Ministry of Finance, the Bank of Ghana, and the International Monetary Fund (IMF) today on Ghana’s bailout, the Finance Minister indicated that from January till date, the cedi has depreciated by 23.5%.
“The Ghana cedi has remained relatively stable from the beginning of the year till date, depreciating culminative by 23.5 percent over the period. But that really is essentially a huge jump in January, and basically since February to date, about 2.5 percent creating the kind of stability that is required for businesses and for confidence to be built up,” he said.
He continued: “So the impression over this period, February to now is only 3.1 percent.
On October 6, 2023, as per the Bank of Ghana’s Interbank forex rates, the cedi is trading against the US dollar with a buying price of GHS11.2193 and a selling price of GHS11.2305.
At the forex bureau, the dollar is being purchased at a rate of GHS11.65 and sold at GHS11.95.
With regards to the fiscal front, Mr Ken Ofori-Atta stated that the primary balance on a commitment basis for the half-year 2023 was a surplus of about 2 billion of the target of 4 billion.
This, he said, was driven in part by strong non-oil domestic revenues and rationalized spending.
Also, non-oil public revenue for the period was 50.1 billion, compared to the program target of 49.8 billion.
The Ministry of Finance, Bank of Ghana and the International Monetary Fund (IMF) today held a news conference to address Ghana’s bailout.
Finance Minister Ken Ofori-Atta, Bank of Ghana Governor, Dr Ernest Addison and Stéphane Roudet, Mission Chief at IMF for Ghana took turns to address the press.
Ahead of the conference, Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), has expressed a positive outlook on Ghana’s economy, acknowledging a substantial improvement in the country’s economic standing over the last month.
Georgieva expressed her strong hope for the disbursement of a $600 million second tranche of IMF funds, slated for November, underscoring its significance in fostering confidence in Ghana’s economic stability.
Ghana is currently facing a scarcity of anti-retroviral medication, specifically the Abacavir Lamivudine regimen, which is vital for Persons Living with HIV (PLHIV) nationwide.
The Ghana Network of Persons Living with HIV (NAP+ Ghana) has reported that their members are encountering difficulties in accessing this crucial medication at hospitals throughout the country.
The Abacavir Lamivudine regimen is one of the several drug regimens essential for PLHIV to maintain viral suppression, ensure their well-being, and enable Ghana to reduce new HIV infections, ultimately striving to end AIDS by 2030.
“Our members across Ghana reported a shortage of the adult dose of ABACAVIR LAMIVUDINE in August this year,” the group said.
In a statement highlighting the medication shortage issue, NAP+ Ghana disclosed that the anti-retroviral medicines, which arrived in Ghana in July, are currently held at the country’s port, pending the approval of a tax waiver by the finance ministry.
“The anti-retroviral medication had been bought with donor funds and at no cost to the Country and should not attract tax. Meanwhile, they are being held until AU TAX, ECOWAS TAX and COVID-19 TAX are paid before we can access our medication,” NAP+ Ghana said.
As a result of the shortage of Abacavir/Lamivudine for adults, some Persons Living with HIV (PLHIV) are being placed on the Tenofovir Lamivudine Dolutegravir (TLD) regimen instead.
“Of utmost concern is that some persons who are put on Abacavir/Lamivudine which is stuck at the harbour, are persons who had kidney and liver problems while on the TLD regimen. One of our members has not been on medication for 4 months due to a shortage of Abacavir/Lamivudine in her facility.
“Our investigations revealed that in some facilities, prescribers give Abacavir/Lamivudine medication meant for children to adults. Therefore, instead of one tablet a day, they have to take five tablets in the morning and five tablets in the evening, of the children’s dose,” the group said.
NAP+ Ghana issued a warning that if the medications continue to be delayed at the port, there is a risk of the disease developing resistance to the anti-retroviral drugs, and individuals on the Tenofovir Lamivudine Dolutegravir (TLD) regimen may experience severe liver and kidney problems.
It added that some members have gone off their medications totally and this “can spell doom.”
“We entreat all radio and television stations; traditional media and stakeholders to join the Network of Persons Living with HIV to call on the government for an immediate waiver of all taxes and release of medications at the harbor,” the group appealed.
The Ministry of Roads and Highways has issued a directive prohibiting heavy-duty vehicle drivers from utilizing the Doli Bridge near Bole in the Savannah Region.
The bridge, which serves as a link between the Upper West Region and the southern part of Ghana, was severely damaged by heavy rainfall on September 17, 2023.
Minister of Roads and Highways, Kwesi Amoako-Attah, conducted an inspection of the damaged bridge on September 19 and assured the public that repairs would be completed within a week.
However, after temporary repairs were carried out, an accident involving an articulated truck once again disrupted the road on Thursday.
The truck’s obstruction impeded both vehicular and pedestrian movement on the temporary connection designated for buses and smaller vehicles.
The Public Relations Officer for the Roads Ministry, Nasir Ahmed Yartey, clarified that the temporary connection was intended solely for buses and smaller vehicles, emphasizing that heavy-duty vehicles should continue to use the alternative route.
“We are calling on heavy-duty drivers not to use that section of the road. They should still use the diverted route that we created on the road, and the Regional Minister for the Savannah Region issued a press release asking the police to implement these directives to make sure that no heavy-duty vehicle crosses that section of the road, because it is very important that heavy-duty vehicles don’t use that section of the road,” Mr. Yartey said.
Mr. Yartey added that contractors are mobilizing to reconstruct the bridge permanently.
“In the meantime, the contractor is on site mobilizing to make sure that the construction of the main bridge is done in earnest and is finished in good time so that the road can be permanently reinstated. But as we do that, it is going to take some time because it is concrete work that we are going to do.”
The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has expressed her strong anticipation of the upcoming disbursement of a $600 million second tranche of IMF funds, scheduled for November.
She emphasized the importance of this disbursement in instilling confidence in Ghana’s economic stability.
Georgieva acknowledged a favorable outlook for Ghana’s economy, noting significant improvements in the country’s economic performance over the past month.
“Ghana is doing actually quite well. You have seen that their position has improved over the last month, and the economy is in a much better place. I would very much hope that we can have the disbursement,” she said referring to a $600 million tranche of IMF money.
Ghana recently secured a $3 billion IMF support package and is currently undergoing its first program review, with the conclusion of the review expected in November.
During an interview, Georgieva also touched upon the advancements achieved by Zambia and Ghana, both of which experienced debt defaults but are currently making notable progress under their respective IMF programs.
Furthermore, she offered guidance to Tunisia, suggesting that although immediate restructuring may not be imperative, the country should swiftly implement measures to strengthen its economy.
The Fisheries Ministry has revoked the licenses of 14 vessels operating in Ghanaian waters due to their violation of the country’s fishing regulations.
Deputy Fisheries and Aquaculture Minister, Moses Anim, has stated that this action is in the best interest of the nation.
“We are saying that they should have taken authorisation before leaving so the Fisheries Commission is engaging, and we are saying they should put up their transcoding so that we can know where they are so long as they are in Ghana’s waters so that we know their activities. Also, we have to label them as IEU vessels and use their IMO number which they cannot change as we label them as IEU vessels,” he said.
Ghana’s fishing industry is a significant employer, providing livelihoods for over 2.7 million people. In 2021, the country recorded fish exports worth over US$150 million, marking a 75% increase compared to 2020.
However, the Environmental Justice Foundation reports that Ghana suffers annual losses of approximately US$100 million due to illegal, unregulated, and underreported fishing activities. These detrimental practices include the use of unauthorized fishing gear, light fishing, discarding fish at sea, employing explosives like dynamite for fishing, and engaging in transhipment at sea, commonly referred to as “Saiko.”
Ghana’s leading export destination, the European Union (EU), has issued warnings to the country regarding these illegal practices, classifying them as Illegal, Unreported, and Unregulated (IUU) fishing.
In 2013, Ghana received its initial yellow card from the EU, but it was later lifted after two years when the government enacted new legislation and established a comprehensive fisheries management plan known as the Marine Fisheries Management Plan [2015 to 2019].
However, this respite was temporary, as the EU contended that despite Ghana’s development of robust policies against illegal fishing in 2015, they were not effectively implemented or enforced, allowing the situation to deteriorate. Consequently, Ghana received a second yellow card from the EU in 2021.
To address these issues and evade further sanctions, Ghana has introduced a new Marine Fisheries Management Plan [2022 – 2026].
The Minister of Education, Dr. Yaw Osei Adutwum, has dismissed assertions of a teacher shortage in the country. He stated that there is an ample supply of teachers, with many awaiting their postings to educational institutions.
Dr. Adutwum conveyed this message during the National Teachers Day celebration held in Takoradi, Western Region, on Thursday, October 5.
“And we can forever put to rest this illusion that there is a shortage when there is no shortage. There are so many people who are waiting to be posted to go and teach and when we get clearance we will do that. We are one of the few countries in the world where you can get 100 teachers today if you want them.”
This contradicts comments by the Registrar of the National Teaching Council (NTC), Dr. Christian Addai-Poku, who has voiced concerns about the high attrition rate in Ghana’s education sector, emphasizing the potential threat it poses to the nation’s future development.
Dr. Christian Addai-Poku revealed that over 10,000 Ghanaian teachers, all possessing Ghana Teacher Licenses, have been granted certification to work in the United Kingdom (UK). Remarkably, these certifications were issued without requiring additional assessments, such as the qualified teacher status test, by the UK government.
He pointed out that the majority of teachers leaving the country are specialized in science and maths, underscoring the demand for Ghanaian educators in the global job market and raising questions about the impact on Ghana’s education system due to the migration of qualified teachers.
These concerns were raised by Dr. Addai-Poku during his welcome address on the first day of a two-day symposium leading up to this year’s Ghana Teacher Prize in Takoradi, Western Region.
Dr. Addai-Poku disclosed that slightly over 16,000 Ghanaian teachers applied to the UK Department of Education for employment.
The symposium served as a gathering for education practitioners, academics, and policymakers to discuss crucial issues in the education sector. It provided a significant platform for various agencies to engage with participants on vital policy matters and allowed schools to showcase innovations emerging from their institutions.
Moreover, the symposium facilitated discussions related to the theme of this year’s World Teachers Day celebration, allowing award winners to showcase what set them apart and led to their national recognition.
The Registrar highlighted that despite the country producing a substantial number of qualified teachers annually, the persistently high attrition rate results in an ongoing shortage of teachers nationwide.
In response to this growing concern, Dr. Christian Addai-Poku appealed to the government and relevant stakeholders to implement appropriate measures addressing the high attrition rate in the education sector, aiming to avert the imminent danger posed by this trend.
The Minister of Education, Dr. Yaw Osei Adutwum, has disclosed that the government is contemplating providing transfer grants to incentivize teachers who are willing to accept postings in underserved communities.
Dr. Adutwum explained that this initiative aims to address the teacher-student ratio in the country.
During the National Teachers Day celebration in Takoradi, Western Region, Dr. Adutwum emphasized that Ghana does not have a shortage of teachers.
“If there is a need to pay transfer grants, we will pay it so that teachers can go to the places that need them the most. And we can forever put to rest this illusion that there is a shortage when there is no shortage. There are so many people who are waiting to be posted to go and teach and when we get clearance we will do that. We are one of the few countries in the world where you can get 100 teachers today if you want them.”
This comes after the Registrar of the National Teaching Council (NTC), Dr. Christian Addai-Poku, voiced his concerns about the high attrition rate in Ghana’s education sector, emphasizing the potential threat it poses to the nation’s future development.
Dr. Christian Addai-Poku revealed that over 10,000 Ghanaian teachers, all possessing Ghana Teacher Licenses, have been granted certification to work in the United Kingdom (UK). Remarkably, these certifications were issued without requiring additional assessments, such as the qualified teacher status test, by the UK government.
He pointed out that the majority of teachers leaving the country are specialized in science and maths, underscoring the demand for Ghanaian educators in the global job market and raising questions about the impact on Ghana’s education system due to the migration of qualified teachers.
These concerns were raised by Dr. Addai-Poku during his welcome address on the first day of a two-day symposium leading up to this year’s Ghana Teacher Prize in Takoradi, Western Region.
Dr. Addai-Poku disclosed that slightly over 16,000 Ghanaian teachers applied to the UK Department of Education for employment.
The symposium served as a gathering for education practitioners, academics, and policymakers to discuss crucial issues in the education sector. It provided a significant platform for various agencies to engage with participants on vital policy matters and allowed schools to showcase innovations emerging from their institutions.
Moreover, the symposium facilitated discussions related to the theme of this year’s World Teachers Day celebration, allowing award winners to showcase what set them apart and led to their national recognition.
The Registrar highlighted that despite the country producing a substantial number of qualified teachers annually, the persistently high attrition rate results in an ongoing shortage of teachers nationwide.
In response to this growing concern, Dr. Christian Addai-Poku appealed to the government and relevant stakeholders to implement appropriate measures addressing the high attrition rate in the education sector, aiming to avert the imminent danger posed by this trend.
Korle-Bu Teaching Hospital Chief Executive Officer, Dr. Opoku Ware Ampomah, has revealed that the facility would require a monthly subsidy of GH₵961,000 to sustain the current charges of dialysis treatment without any further increments.
This follows the public outcry over the recent increase in dialysis treatment costs for renal patients at the hospital.
The discussion surrounding dialysis treatment has gained significant attention in the past week, mainly due to the unsuccessful attempt by the Korle-Bu Teaching Hospital to implement a 100% price hike for dialysis treatment.
The hospital attributed the price increase to the removal of tax and import duty exemptions. According to KBTH, if they were to maintain the previous charges, the dialysis facility would face imminent closure in a matter of days.
Speaking on Kidney Health Matters on Joy News on Thursday, October 5, Dr. Ampomah said, “We have a GH₵4 million deficit, and then if we are to run at full capacity, we will need about GH₵961,000 subsidy every month to be able to maintain the current prices because of the numbers that we are doing. We are doing about 2000 dialysis.”
“Either government provides that subsidy or we are allowed some reasonable increase so that’s the kind of discussions we are having.”
He mentions that the facility is also relying on the generosity of individuals and corporate entities in Ghana to share some of the financial burden.
“We are also looking for other Ghanaians because First Sky Group has done tremendously well by providing free dialysis by paying for 250 patients to have two sessions of dialysis every week throughout the year free of charge. So, other individuals and corporate Ghana can also join to ease the burden on the government “he noted.
Based on current research findings, Dr. Kwame Asiedu Sarpong, a pharmacist and Research Fellow at the Center for Democratic Development, CDD-Ghana, estimates that approximately 13% to 17% of Ghana’s population, translating to roughly 4 million to 5.2 million citizens, are experiencing some form of renal function impairment.
Researchers suggest that within this segment of the population, about 15,000 to 19,500 individuals should be undergoing dialysis.
However, the available data indicates that only approximately 2,000 people are currently receiving dialysis treatment. This leaves between 13,000 and 17,500 individuals without access to treatment, often resorting to alternative forms of care and seeking renal assistance only when their condition becomes acute. This lack of timely access to treatment significantly affects their quality of life and life expectancy.
Nationwide, there are approximately 300 dialysis machines, with the majority located in the Greater Accra and Ashanti Regions. Alarmingly, four regions in Ghana do not have a single dialysis machine, forcing citizens in these regions to travel significant distances to seek essential care.
The cost of dialysis in Ghana varies from GH₵300 to GH₵1,000 per session, with a median cost of GH₵400 in government and quasi-government health facilities (ranging from GH₵300 to GH₵600).
On average, patients typically require three sessions per week, amounting to approximately GHC1,200 weekly simply to sustain their lives.
If additional routine medications are necessary, an extra cost of GHC435 per week is incurred, resulting in a weekly expense of GHC1,635 for the patient, assuming they have no underlying conditions such as hypertension or diabetes.
This translates to an annual cost of GH₵85,020 or GH₵7,085 per month to stay alive through dialysis treatment. It is important to note that according to the Ghana Statistical Service, 70% of working Ghanaians earn less than GH₵3,000 per month or GH₵36,000 per year. Consequently, should these workers or their dependents require dialysis, they would need 2.4 times their annual salary just to afford the necessary treatment to stay alive.
The Ghana Revenue Authority (GRA) has come forward to justify its decision to levy taxes on individuals such as bloggers, brand influencers, and MCs who earn income in the digital space. Taxing earnings generated online has been a topic of global discussion, including in Ghana.
While conventional sources of income are relatively straightforward to tax, digital earnings present unique challenges. The GRA’s move to consider taxing bloggers and similar entities has raised various concerns.
However, Edward Gyambra, the Commissioner responsible for the domestic tax revenue division of the GRA, clarified in an interview with Citi News that this expansion of the tax base does not entail the creation of a new tax. Instead, he asserted that it is equitable for businesses generating income to contribute their fair share to the national revenue.
He further elucidated that the GRA’s objective is to broaden the tax base to encompass all businesses, regardless of whether they operate in the digital realm or offline.
“Some people doing business online is something that is on the blog globally and if you remember last year, we also launched our e-commerce taxation and as part of getting online people to pay taxes all these players will be brought to book to ensure that they also pay their bit of taxes to the country.”
“We are expanding the tax net, and it doesn’t mean we are introducing a new tax. If you are generating income from any business, that income is taxable and so if you sit behind your computer and create content and generate income from that, we will tax that income,” he added.
Taylor Swift’s concert film, “Eras Tour,” has achieved remarkable success, grossing over $100 million in advance ticket sales globally a week before its cinema release.
AMC, the distributor, noted an extraordinary demand for the film, which broke records for one-day sales in less than 24 hours. This milestone positions it as the most profitable concert film ever, surpassing Justin Bieber’s “Never Say Never,” which made $99 million in 2011.
Taylor Swift’s ongoing global tour, slated to run until late 2024, is on track to become the largest in history, with stadium ticket sales potentially reaching $1.4 billion.
This would eclipse Elton John’s record for his farewell tour. The “Eras Tour” film is set to hit cinemas in over 100 countries next Friday, and analysts predict it could generate an additional $100 million in box office revenue in North America during its opening weekend.
In 2021, five films, including “Barbie,” “The Super Mario Bros. Movie,” and “Spider-Man: Across the Spider-Verse,” achieved over $100 million in their North American debuts.
AMC is also handling the distribution of Beyonce’s Renaissance tour movie, scheduled for release in December. Taylor Swift has had a record-breaking year, becoming the first artist in history to have songs in every slot of the top 10 US singles chart.
She surpassed Drake, who previously held the record of nine top 10 singles concurrently in September 2021. The Beatles held a similar record in 1964 with eight singles in the top 10.
In August, Spotify announced that Swift had set another record as the first female artist to reach 100 million monthly listeners on the platform.
This achievement followed her release of the re-recorded album “Speak Now (Taylor’s Version),” which topped the charts in the US and UK. Swift will soon release her next re-recorded album, “1989 (Taylor’s Version),” as part of her efforts to regain ownership of her original recordings.
The Ghana Tertiary Education Commission (GTEC) has announced a temporary halt to the processing of new accreditation applications for academic programs in all public universities, including technical universities.
This suspension will take effect immediately and remain in place until January 1, 2024.
It’s important to note that this suspension does not apply to the University of Environment and Sustainable Development (UESD) located in Somanya, Eastern Region.
GTEC’s decision is motivated by the necessity to improve the accreditation process due to ongoing non-compliance by certain institutions with the country’s accreditation requirements.
A communication to all public universities, signed and issued by the Director of Accreditation of GTEC, John Dadzie Mensah, stated that “any public university that submits new programme accreditation application for consideration by the commission post-December 31, 2023, must demonstrate a clean sheet of programmes in good standing (having valid accreditation status) before the new one is admitted.”
Contrary to the directive, Mr. Mensah acknowledged that a majority of public universities were, in fact, performing well in terms of their accreditation processes, especially those offering a smaller number of programs.
Explaining the rationale behind this decision, Mr. Mensah cited public apprehension arising from recent releases of the Auditor-General’s Reports, which had raised concerns regarding the accreditation status of certain programs offered by public universities.
“This has made it necessary to take a pause to evaluate the situation to inform practice on the part of both the regulator and the institutions.”
“Although the break is for only three months, we appreciate how it may negatively impact the operations of the affected institutions,” he said, in an interview with Daily Graphic, describing it as a necessary evil.
He explained that “programmes are submitted at different times for accreditation, and so, the accreditation periods overlap.”
“Active and non-active accreditation status of programmes of an institution will, therefore, overlap always,” Mr Mensah further explained.
He explained that this situation implied that programs were continuously in need of re-accreditation as their accreditation periods expired. Simultaneously, while some programs were undergoing approval for accreditation or re-accreditation, new applications were being received for fresh accreditation or re-accreditation.
“That is why every institution is encouraged to initiate the re-accreditation process one full year before the active accreditation expires, mindful of the fact that the quality assurance processes leading to the granting of accreditation take time,” he said.
Mr. Mensah expressed his belief that strict adherence to the policy would effectively reduce the occurrence of overlaps.
“It, therefore, has very few programmes with none near expiry as far as accreditation status is concerned. The UESD, a new tertiary institution, is exempted because it is starting operation from scratch.”
“As a baby institution, it is being encouraged to introduce more programmes to be firm on the ground,” Mr Mensah said.
Ghana, which has received a $3 billion International Monetary Fund (IMF) support package, is currently in the midst of its inaugural program evaluation, scheduled to wrap up by November, according to the Managing Director of the IMF, Kristalina Georgieva.
During a comprehensive interview, Georgieva expressed her positive outlook regarding Ghana’s economic advancements, highlighting a significant upturn in the country’s financial situation in the past month.
Additionally, in her discussion, Kristalina Georgieva commented on the progress being made by Zambia and Ghana, both of which have experienced debt defaults, within their respective IMF programs.
She also noted that while Tunisia doesn’t require a restructuring at this point, the country should take prompt actions to strengthen its economy.
“Ghana is doing actually quite well. You have seen that their position has improved over the last month, the economy is in a much better place.
“I would very much hope that we can have the disbursement,” she said referring to a $600 million tranche of IMF money that’s due to be disbursed in November.
“That is part of the confidence building that we are projecting,” she said regarding Ghana’s economic stability.
In her broader comments, Georgieva underscored the importance of tackling unsustainable debt crises as a “high-priority” issue.
She offered a defense of the G20 Common Framework for debt resolution, even in the face of criticism regarding its perceived slow response in providing relief to eligible nations.
Georgieva noted that as more countries seek assistance, the process has become more streamlined, with Chad, Zambia, Sri Lanka, and Ghana all showcasing shorter timeframes for achieving progress.
She highlighted specific examples, noting that Chad took 11 months from the initial staff-level agreement to financial assurances, Zambia accomplished this in nine months, Sri Lanka in six months, and Ghana in just five months.
“I hear lots of people saying, oh this doesn’t work,” she said.
“My question to them is, ok, you forget about it. What do you have instead?”
In the meantime, the IMF Managing Director emphasized that Egypt’s precious reserves will continue to dwindle unless the country opts for another currency devaluation. She commended other measures that Egypt, the IMF’s second-largest borrower, has taken to address its struggling economy.
Since early 2022, Egypt has devalued its currency three times, resulting in a nearly 50% depreciation against the US dollar.
Georgieva argued that delaying another devaluation is only postponing the inevitable, and the longer Egypt refrains from taking this step, the more challenging the situation will become.
“The sooner we can reach an agreement on the road map for this the better,” she said.
“The issue here is very simple. Egypt would bleed reserves protecting the pound and neither the country nor overall the environment is such that this is desirable. That’s a problem that has to be solved.”
Egypt’s net international reserves experienced a decline last year, reaching their lowest point since 2017, before showing signs of stability in recent months and reaching $35 billion in September. However, this figure remains more than one-fifth lower than its peak in 2020.
The decision to maintain the stability of the Egyptian pound has come at a cost, as it has led to a depletion of foreign exchange in the economy through a reduction in commercial banks’ net foreign assets. In August, these assets shrank by over 5%, reaching $13.1 billion, as calculated by HC Research based in Cairo.
Nevertheless, Kristalina Georgieva mentioned that progress is being made in the IMF’s assessment under Egypt’s $3 billion rescue program.
“In the last couple of days there have been some constructive engagements,” the IMF head said ahead of a speech she made in Abidjan, Ivory Coast.
“There will be more systematic work of our team with Egypt. So stay tuned. Let’s see what would come out in the next weeks.”
Egypt’s long-term foreign debt rating was downgraded late Thursday by Moody’s to Caa1 from B3, seven levels into junk.
The ratings agency cited the government’s “worsening debt affordability trend and the persistence of foreign currency shortages in the face of increasing external debt service payments over the next two years.”
The economic situation in Tunisia, another North African country facing challenges, is not as severe as some others, but it still requires immediate attention to finalize the agreements related to a $1.9 billion rescue package from the IMF, according to Georgieva.
A debt restructuring is not required as “they are not yet hanging at the cliff,” she said.
Nevertheless “the sooner the country takes some measures to strengthen their fiscal position, to strengthen their overall economic performance the better.”
Egypt and Tunisia are grappling with some of the highest bond yields globally, highlighting investor caution towards holding their debt. Egypt’s dollar notes yield an average of 18.5%, as per Bloomberg indexes, while a Tunisian bond maturing in 2025 is trading at a yield of over 40%.
Moving to the southern part of the continent, Zambia and Ghana, both countries that have experienced debt defaults, are in line to receive additional support, as stated by Georgieva.
She noted that a memorandum of understanding with Zambia’s bilateral creditors has been tentatively agreed upon and will be signed once a few remaining details are resolved.
Additionally, in recognition of the challenges faced by many of the world’s poorest nations in repaying debt, Georgieva expressed her support for the concept of suspending debt payments when countries are hit by climate-related disasters.
“I’m very much in favour of including clauses in debt, be it bonds or loans, that put debt service suspension in place. So if a natural disaster happens, the country is not forced to choose between saving lives and paying creditors,” she said.
“We all need to think about how we go about debt service in a world of more frequent and devastating climate disasters.”
Former National Democratic Congress (NDC) Central Regional Chairman, Bernard Allotey Jacobs, is of the firm belief that former member of the New Patriotic Party (NPP), Alan Kyerematen, has a meager following.
According to Mr Allotey Jacobs, he came to this conclusion following a recent video of Alan Kyerematen.
He noted that the former Trade Minister who seeks to contest the 2024 presidential election as an independent candidate was in Bantama canvassing support.
Mr Kyerematen was with a group comprising eight men, he said. In his account, Mr Allotey Jacobs stated that upon arrival at a lorry station, the group of boys chanted, “Here he is.”
Engaging in discussions on Peace FM’s Kokrokoo show, Mr Allotey Jacobs expressed pessimism about Mr Kyerematen’s following. He does not expect much from the former Trade Minister owing to this.
“Yesterday, I saw a video about Alan Kyerematen. He was around Dr Kokofu’s constituency, Bantama, and about six boys were behind him. About two boys preceeded him. At the lorry station, they introduced him to those there, chanting, Here he is. Herh butterfly. There is a saying that were the wind blows is where I go. That is my advice,” he said.
Private legal practitioner, Maurice Ampaw, has asserted that Assin Central MP, Kennedy Agyapong, will part ways with the ruling New Patriotic Party following the much-anticipated presidential primaries slated for November 4.
According to Lawyer Ampaw, the presidential aspirant would only exit the ruling party if he fails to emerge flagbearer at the end of the day.
He noted that recent actions by Mr Agyapong indicate to him that he join Alan Kyerematen who recently exited the ruling party owing to challenges with the electoral processes to elect a flagbearer, among others.
“I can tell you on authority that he doesn’t want to be part of NPP. He has decided, per his actions, show that if you don’t vote for him on November 4, he will leave the party and follow Alan,” he said.
In recent times, there has been bad blood between Mr Agyapong and some members of the NPP including Ashanti Regional Chairman of the New Patriotic Party (NPP), Bernard Antwi Boasiako popularly known as Chairman Wontumi.
Chairman Wontumi at a press conference in Kumasi earlier on Wednesday threatened to cause the arrest of Kennedy Agyapong if he “threatens” him again.
But Kennedy Agyapong’s campaign team in the Ashanti Region has called the bluff of Bernard Antwi Boasiako, over his threat to cause the arrest of the flagbearer aspirant.
Meanwhile, a member of the National Democratic Congress’ (NDC) communication team, Kwadwo Danquah, has also projected that Mr Kennedy Agyapong will leave the NPP.
According to Mr Kwadwo Danquah, he expects Mr Agaypong to follow the footsteps of former Trade Minister Alan Kyerematen owing to the alleged maltreatment meted out to them by the leadership of the ruling party.
The Eastern Regional Communications Office made the prediction during an interview on Power FM on September 26, 2023.
“When they go to their office, they go for Kan Dapaah’s boys to come and beat them and destroy their cars. That is what they did to Alan and for that, he has resigned from the party. That thing Akufo-Addo is doing may cause the downfall of the NPP. Mark my words today, Ken Agyapong will also go independent. He will resign and go independent.”
“I am the Eastern Regional Communications Officer; I am saying it on your platform. Today is 26th September 2023, I’m saying after they conclude the November primaries, Kennedy Agyapong will go independent.”
