Author: Chris Kodo

  • Eddie Nartey remarries after, two years after losing wife

    Eddie Nartey remarries after, two years after losing wife


    After experiencing the loss of his wife, Ghanaian actor, director, and producer Eddie Nartey has been fortunate enough to discover love once more, and he joyously sealed this newfound chapter of his life by entering into the bonds of matrimony once again, in a heartwarming traditional marriage ceremony that took place on Saturday, August 12, 2023.

    Photos and videos captured by Sammykay Media from the ceremony captured elated colleague actors who were in attendance.

    Amongst the stars captured at the marriage ceremony are Bismark the joke, James Gardiner, Foster Romanus and many others.

    Eddie Nartey lost his wife, Vida Ohenewaa Nartey some years ago. The sad incident occurred on Sunday, January 24, 2021.

    Fast forward, he is off the market and happy once again.

    Watch video

  • Fukushima nuclear disaster: Protesters demonstrate against Tokyo’s trash plan

    Fukushima nuclear disaster: Protesters demonstrate against Tokyo’s trash plan

    On Saturday, hundreds of South Koreans protested in Seoul against Japan’s controversial plan to discharge purified nuclear wastes into the Pacific Ocean.

    Later this month, Tokyo plans to release the water from the Fukushima nuclear facility, which was damaged by the tsunami.

    It has received UN nuclear watchdog approval, and a South Korean evaluation determined that it complies with global norms.

    But opponents worry that fish would get tainted and marine life will be killed.

    They marched through Seoul’s centre while carrying placards that said “Protect the Pacific Ocean” and “Nuclear Power? “No, thanks.”

    Radiation in the ocean, according to activist Choi Kyoungsook of Korea Radiation Watch, “will eventually destroy the marine ecosystem.”

    She declared, “The sea is for all of us and for mankind, not just the Japanese government.

    The International Atomic Energy Agency (IAEA), which supports Japan’s plan, released a report last month.

    A few days later, South Korea published its own analysis that concluded that water discharge should “not have any meaningful impact on our ocean areas,” according to government minister Bang Moon-kyu.

    Japan has nevertheless come under fire both at home and abroad.

    Groups in the fishing and seafood industries in Japan and the rest of the region have expressed worries about their livelihoods because they think people won’t buy seafood.

    Additionally, a number of overseas specialists have voiced their reservations about the plans, including one in China who reportedly referred to the IAEA assessment as “hasty” in the state-run Global Times newspaper in China.

    There is believed to be more than a million tonnes of treated radioactive water stored at the shut-down plant in northern Tokyo. The water was used to cool the reactors that were wrecked by the terrible earthquake and tsunami in March 2011.

    When Japan first announced its plan to release the water into the ocean, it stated that the procedure would be properly controlled and that the water would be further diluted by seawater before being released.

    Next week, US President Joe Biden will hold a trilateral summit with Prime Ministers of Japan, Yoon Suk Yeol of South Korea, and Fumio Kishida of Japan to address the contentious idea.

    “The governments of South Korea, the US, and Japan should view it as an environmental disaster, rather than a political issue, and agree to block it for future generations,” said Ms. Choi.

  • John Kumah,Ejisu Club 100 provide beds for Ejisu health facilities

    John Kumah,Ejisu Club 100 provide beds for Ejisu health facilities

    MP for the Ejisu constituency in the Ashanti Region,Dr John Kumah, is working together with a team to launch an effort aimed at substituting outdated hospital beds with modern ones within the municipality.


    As a result, the ’EJISU Club 100’ and other engaged stakeholders have donated 100 new hospital beds and mattresses to several medical facilities within the Ejisu municipality.

    Recipients of the generous contribution span clinics, health posts, and CHPS compounds.

    Dr John Jumah, who also is also the Deputy Minister of Finance underscored the pressing need to alleviate the perennial shortage of beds across various hospitals in the municipality.

    During the presentation, Dr Kumah emphasised the paramount importance of this endeavour to enhance the healthcare infrastructure and services within the region.

    This comprehensive approach aims not only to address the current scarcity but also to modernise and elevate the standards of patient care within these medical facilities.

    Dr Jumah took the opportunity to urge the managerial staff of the recipient hospitals to exercise responsible stewardship over the donated items, with a view to extending their longevity and ensuring their sustained utility.

  • China not happy as Taiwan’s vice president intends to visit New York

    China not happy as Taiwan’s vice president intends to visit New York

    Taiwan’s vice president and presidential candidate William Lai‘s passage through the United States was denounced by China’s foreign ministry on Sunday, branding him a “troublemaker through and through.”

    Lai arrived in New York on Saturday before travelling to Paraguay, where he will be present for Santiago Pena’s inauguration as president on August 15. The only diplomatic ally of Taiwan in South America is Paraguay.

    Lai claimed in a statement posted on X (formerly known as Twitter) that he was “happy to arrive” in New York, calling it a “icon of liberty, democracy, and opportunities.”

    Officials from the US government stated that they anticipated Lai’s arrival to go “without incident.”

    A senior administration source told CNN on July 16 that such transits were “fairly common” and that they were “unofficial, in keeping with our US One China policy.”

    In January 2022, Lai last travelled via the US.

    Despite never having had authority over it, Taiwan is nevertheless claimed by China’s ruling Communist Party, which has also maintained its intention to seize the autonomous island by force.

    The Chinese foreign ministry quickly after Lai’s arrival declared that it “firmly opposes” any formal contact between the US and Taiwan as well as any “‘Taiwan independence’ separatists to the US.”

    China issued a statement saying, “China regrets and strongly condemns the US decision to organise the so-called’stopover.

    Lai obstinately maintains his separatist stance for “Taiwan independence.” He is a troublemaker from the inside out,” it went on.

    Additionally, the ministry stated that Taiwan was the “core of the core interests of China” and encouraged the US to uphold the one-China concept, adding that it was “closely following” developments and “would take resolute and strong measures to safeguard its sovereignty and territorial integrity.”

    Since the US and the government of Taiwan do not have formal diplomatic relations, travel by Taiwanese officials to the US is referred to as “transits” rather than “visits” because the stopovers are part of an unofficial trip en route to another location.

    According to Taiwan’s vice foreign minister Alexander Yui, Lai is scheduled to pass through San Francisco on August 16 on his way back to Taipei.

  • Alan’s camp vows to slap any candidate who attempts vote buying

    Alan’s camp vows to slap any candidate who attempts vote buying

    Camp of the former Trades Minister who is now contesting for the flagbearership position of the New Patriotic Party (NPP), Alan Kyerematen, has issued a stern warning to candidates planning to engage in vote buying in the upcoming primaries.

    A former Member of Parliament for Manhyia North and member of the Alan Kyerematen campaign team, Collins Owusu Amankwaa, speaking in an interview on Okay FM’s Ade Kyea Bia on August 12, 2023, praised Alan’s contributions to the NPP, attributing their current status as the ruling party to his efforts as the chairman and chief mobilizer of the party.

    He asserted that Alan’s dedicated service to the party necessitates recognition and urged party delegates to consider his track record when making their decision at the upcoming special delegates congress, scheduled for August 26, 2023.

    “Individuals won’t labour so that others can reap the benefits. Alan Kyerematen, in his capacity as chairman, chief mobilizer, and the driving force behind the party’s advancement, has earned recognition.

    “The current victory stands as a testament to his contributions. Come November, the delegates’ choices will become evident,” he said.

    He expressed concerns about the potential influence of vote-buying tactics during the Congress.

    According to him, Alan Kyerematen’s camp would resist any attempts to manipulate the election results through the use of taxpayer funds to sway votes.

    “Anyone who will say go and vote and come for money, if we see you, we will slap you because a guideline has been established to prohibit vote buying. 

    “So, anybody who will make up his mind that he/she is going to use the taxpayer’s money to influence people …, we will really take action against that person. So, what I am saying is that NPP is not for sale, and democracy is not for sale.

    “We won’t allow anybody to destroy our democracy, never, because if we don’t take care, a time will come when armed robbers will rule this country. So, if anybody brings a Landcruiser with money to influence the election and disregards the guidelines, then that person will suffer.”

    He added, “Let me put it on record that, for this election, we are both spiritually and physically fortified.”

    Alan Kyerematen will contest for the flagbearership slot along with nine other contenders including Vice President Mahamudu Bawumia and Kennedy Agyapong, who are seen as his main challengers.

    The NPP will slash the 10 candidates, who passed the vetting stage, down to five in a preliminary vote (set for August) before the main contest is held in November 2023 to elect a successor to president Nana Addo Dankwa Akufo-Addo as leader of the party.

    The political landscape in Ghana is heating ahead of the 2024 elections. The New Patriotic Party (NPP) and the National Democratic Congress (NDC) are gearing up for a fierce battle among other parties.

    The NPP is determined to defy the traditional eight-year cycle by securing victory once again. The party, which clinched the presidency in 2016 and retained it in 2020, is setting its sights on securing another term in the upcoming elections. 

    Meanwhile, the National Democratic Congress (NDC) is eyeing a comeback. The party, which lost power to the NPP in the previous election, is banking on the leadership of former President John Mahama to spearhead its resurgence. 

  • Joyce Bawa baffled over gov’t’s silence on Cecilia Dapaah scandal 

    Special Aide to former President John Dramani Mahama has raised concerns about the persistent lack of response from the government regarding the scandal involving the former Minister of Sanitation, Cecilia Dapaah.

    Joyce Bawa Mogtari intimates that the absence of a response raises questions about whether the government truly holds a regard for the citizens of Ghana.

    In a tweet on Saturday, August 12, the former Deputy Transport Minister said government has simply lost the fight against corruption. 

    According to her, any government that is serious about the corruption fight would have addressed the public on the issue. 

    “While we continue to wonder how an individual, a Minister of State, will keep such large sums of money at home, when she’s not known to have any other business, is it not surprising that the government has still not addressed the Cecilia Dapaah scandal?”

    “This is unprecedented in our history,” she tweeted. 

    Sources at the Office of the Special Prosecutor on Thursday, August 10, disclosed the amounts of money in the frozen bank accounts of the former minister, Cecilia Abena Dapaah.

    The sources revealed that the OSP tracked $5 million that had hit the account over a period, along with GH¢48 million found in Cecilia Dapaah’s Prudential Bank accounts.

    Also, it found GH¢1 million in investments and GH¢700,000 in cash in her Societe General account.

    Details from Kissi Agyebeng’s Office have revealed that a cash amount of $590,000 was discovered during a search at her Abelemkpe home.

    At the same residence, a sum of ¢2,730,000 in cash was found.

    JoyNews understands the former Minister’s cedi and dollar accounts have been frozen by OSP pending further investigations.

    The OSP on July 26, arrested Cecilia Abena Dapaah and conducted a search in her official residence at Cantonments after it emerged that two house helps had stolen huge amounts of money and some items from her home.

    Her private residence at Abelemkpe in Accra, where the said theft reportedly took place between July and October 2022, was also searched.

    OSP subsequently filed a motion to confirm the seized money it retrieved from the former Minister’s residence and to also confirm the frozen bank accounts.

  • Constructing new BoG headquarters amid crisis isn’t wise – Inusah Fuseini 

    Constructing new BoG headquarters amid crisis isn’t wise – Inusah Fuseini 

    Former Member of Parliament (MP) for Tamale Central, Inusah Fuseini, has voiced his opinion that the Bank of Ghana (BoG) embarking on a new construction project is imprudent given the financial challenges currently faced by the institution.

    He highlighted that the Bank of Ghana bears a fiduciary duty to the citizens of Ghana, as the institution is the collective asset of the entire Ghanaian population.

    Speaking on JoyNews’ Newsfile on Saturday, Mr Fuseini said that decision taken by BoG must be taken prudently and that the bank should be accountable.

    “No one is saying that they conceived the idea of building a bank in 2017, no one has said that, but building the bank in 2021 at the height of our economic and social crisis, was it a prudent decision?

    “That goes to show that the bank has been so mismanaged and the managers of the bank have not exercised prudence in their decision making and that has led us to the situation in which we are,” he said.

    The former Roads and Highways Minister’s assertion follows the BoG’s recent statement that it is spending $250 million to build a new head office because its current office which was built in the 1960s has failed a structural integrity assessment.

    It said, the edifice “is no longer fit for purpose and could not stand any major earth tremors.”

    In a press release on Tuesday, August 9, the central bank explained that “The outcome of the structural integrity work was that the main building does not satisfy the full complement of excess strength required for a building to be considered safe for usage.

    “This means that in the case of a worst-case gravity and wind loading scenario, for example, unusually strong wind, the building may be significantly affected.”

    On the back of this, Mr Fuseini said that it is not prudent for BoG to start the building of a new headquarters after recording a GH¢60.8 billion loss and negative equity of 55 per cent for 2022.

    “The project is ongoing! If you know a project life, there’s a budget for it and the project has a gestation period. The project is still ongoing, the current crisis in which we are, the project is still ongoing. ….. it’s not that the money is sitting in the bank, if the money were sitting in the bank, they wouldn’t have a negative equity of the 55% for 2022,” he said.

    The lawyer emphasised that “At the time the project was starting, no reasonable bank manager would have committed to invest when we were still suffering the ravages of Covid-19 on the economy and the projections said that our economy was going to slow down. No reasonable person would do that, when countries were taking steps to protect the economic fundamentals of their countries.”

    Meanwhile, the Minority in Parliament has called out the Governor of the central bank and his deputies after the lender of last resort reported a ¢60.8 billion loss for 2022.

    The Minority Leader Dr Cassiel Ato Forson has questioned why Dr Ernest Addison is spending $250 million to build a new head office for the central bank at a time the Bank is in financial difficulties.

    He accused the BoG Governor of printing money to finance this project.

  • Calls for resignation of BoG governor, deputies heighten as Kofi Adams joins chorus

    Calls for resignation of BoG governor, deputies heighten as Kofi Adams joins chorus

    Former National Organiser of the opposition National Democratic Congress (NDC) and current Buem Member of Parliament, Kofi Adams, has joined the growing demand for the Bank of Ghana’s governor and deputy governors to step down. This appeal comes in response to allegations of extravagant expenditures that resulted in a staggering GHC60 billion deficit in 2022.

    Mr Adams suggested that the central bank’s irresponsibility has now reached its zenith, leaving no alternative but for those accountable for the chaos to depart, allowing capable individuals to take over and restore financial stability to the institution.

    In a conversation with Selorm Adonoo on The Big Issue program aired on Citi TV and Citi FM, Kofi Adams, the former NDC organizer, expressed that the governor and deputy governors have consistently ignored alerts from the Minority group. He asserted that their ongoing mishandling of the economy has led to the present turmoil, and therefore, they should step down due to their lack of competence.

    “We have reached a point where we cannot let the one that created the mess to continue to be there, and like many economists have said, the economy is not yet recovering and so if the person that caused this mess continues to superintend over the economy, the entire economy will collapse.”

    “It is very clear that many of the things that are being reported today as a result of the economy being in the intensive care unit were known long ago. The Minority raised issues right from the word go and the Bank of Ghana ignored them. We raised issues with the printing of banknotes to support the reckless expenditure of the government.”

    “They have violated the very Act that governs them so what more can we do as a Minority than to ask the governors to leave for a more competent person to come take over and work things around for us,” Mr. Adams further charged.

  • 14 million Sudanese children in urgent need of humanitarian assistance – UNICEF

    14 million Sudanese children in urgent need of humanitarian assistance – UNICEF

    The UN children’s agency said on Friday that 14 million children in Sudan are in “dire need” of humanitarian assistance as the country’s hunger crisis is being exacerbated by a deadly conflict there.

    “The figures are astounding. According to Ted Chaiban, deputy executive director of UNICEF, “nearly 14 million children, or roughly every child in Colombia, France, Germany, or Thailand, are in urgent need of humanitarian assistance.”

    According to him, more than 1.7 million children in Sudan have been ejected from their homes and are now at risk of famine, disease, violence, and family division.

    The 1.9 million children who were previously displaced in Sudan prior to this most recent crises are added to by this.

    “Three million children under the age of five are underweight, and 700,000 of them are at serious danger for severe acute malnutrition and death. Chaiban continued, “1.7 million infants under the age of one are at risk of skipping important immunisations, increasing the likelihood of disease outbreaks.

    According to UNICEF, at least 435 children have died and more than 2,025 have been injured in the Sudan violence since it started in the middle of April.

    The UN issued a warning on Thursday that over 20 million people in Sudan are suffering from extreme hunger, a number that has nearly doubled since last year.

  • US sends massive amount of stolen treasures back to Italy

    US sends massive amount of stolen treasures back to Italy

    More than 250 historic relics that were stolen from Italy have been returned by the US to that country.

    The objects had been stolen and sold to US museums and private collectors in the 1990s, according to the art unit of Italy’s police force.

    A few of the priceless antiques are pots, paintings, and sculptures that date back as far as 3,000 years.

    Numerous mosaics have a market value in the tens of millions of euros.

    The oldest artefact is from the Villanovan period (1000–750 BC), while others are from the Etruscan civilization (800–200 BC), Magna Graecia (750–400 BC), and Imperial Rome (27 BC–476 AD).

    A handful of the antiquities appeared to have been offered to the Menil Collection, a museum in Houston, Texas, after the majority of them had been stolen in the 1990s and sold through a number of dealers.

    The Menil Collection, according to the Italian Ministry of Culture, houses the objects, although a museum representative disputes this and claims they have never been a part of the collection.

    The spokeswoman claimed that the museum had been asked to donate the antiquities but turned them down in favour of directing the donor to Italy’s ministry of culture.

    After police discovered that the artefacts came from unauthorised excavations of ancient sites, the ministry claimed that the owner of the collection “spontaneously” returned the items.

    According to a separate statement from the ministry, 145 of the returned treasures were the result of a bankruptcy proceeding against English antiques merchant Robin Symes, who gathered thousands of items as part of an unlawful trading network.

    Italy has a lengthy history of looking for stolen antiques and artefacts that have been bought by private collectors and sold to museums.

    In September 2022, New York returned to Italy stolen artwork valued at $19 million (£16 million), including a $3 million-plus marble head of the goddess Athena from the year 200 BC.

  • Franklin Cudjoe calls for surcharge of persons responsible for BoG’s GHC60bn loss  

    Franklin Cudjoe calls for surcharge of persons responsible for BoG’s GHC60bn loss  

    President of Imani Africa, a policy think tank, Franklin Cudjoe, is urging that individuals accountable for the Bank of Ghana’s GHC60 billion loss in 2022 should face surcharges as a means to recover the funds.

    Mr Cudjoe criticised the Central Bank for displaying negligence and neglecting its responsibilities, factors he believes were responsible for the incurred loss.

    “If you are suggesting to us that because you supported the government and so the loss should be taken, then you are simply saying that your fundamental duty as an independent arbiter in disputes among government institutions should be thrown to the dogs.”

    He told Selorm Adonoo on The Big Issue on Citi TV that it is standard practice to surcharge individuals responsible for financial infractions in an audit and so it will be prudent for the conversation about the resignation of the Central Bank’s governor and his deputies to also gravitate toward surcharging them and any other person responsible for the losses.

    “The auditors were quite clear about the mandate of the Bank and as to why all these infractions are coming out tells me one thing, that the right procedures were not adopted by the central bank and if that is the case, why are we running around to get a solution? What I know is that if you are audited as an independent organization and certain infractions are found, you are surcharged, so my point is, are we not supposed to be looking in that direction as well?”

    “This should go beyond calls that people should resign, I think we must also find out if some surcharging will be done because this is substantial money.”

  • Non-OPEC oil supply to rise 1.5 mb/d in 2023

    Non-OPEC oil supply to rise 1.5 mb/d in 2023

    The Organisation of the Petroleum Exporting Countries (OPEC) says, its Non-OPEC oil supply is expected to expand by 1.5 million barrels per day (mb/d) in 2023.

    This is a slight upward revision from the previous assessment of 1.4mb/d.

    This was gathered from OPEC Monthly Oil Market Report for August.

    Non-OPEC oil producers are crude oil-producing nations outside of the OPEC group and shale oil producers.

    The Organisation of the Petroleum Exporting Countries (OPEC) estimates that the increase in its Non-OPEC oil supply will be around 1.5 million barrels per day (mb/d) in 2023, which is a slight improvement from the earlier prediction of 1.4 mb/d.
    This data was taken from the August OPEC Monthly Oil Market Report.
    Countries that produce crude oil outside of the OPEC alliance are referred to as non-OPEC oil producers, which also includes shale oil producers.

    Some of the top oil-producing countries are non-OPEC nations and these include U.S. which is the number one producer as well as Canada and China.

    The report said the main drivers of oil supply growth for 2023 were expected to be the U.S, Brazil, Norway, Kazakhstan Guyana and China, while the largest decline was expected from Russia.

    It said there remained uncertainties associated with U.S shale oil output potential and unplanned maintenance in 2023.

    According to the report, for 2024, non-OPEC oil production is projected to grow by 1.4 mb/d, unchanged from the previous assessment.

    “For 2024, the main drivers for liquids supply growth are expected to be the U.S, Canada, Guyana, Brazil, Norway and Kazakhstan, mainly due to existing project ramp-ups.

    “The largest declines are expected from Mexico and Azerbaijan.

    “OPEC NGLs and non-conventional liquids are forecast to grow by 46 thousand barrels per day (tb/d) in 2023 to an average of 5.4 mb/d and by another 65 tb/d to an average of 5.5 mb/d in 2024,” it said.

    The report said in July, OPEC-13 crude oil production decreased by 836 tb/d month-on-month (m-o-m) to an average of 27.31 mb/d, according to available secondary sources.

    The report further revealed that its World Oil Demand in 2023 was expected to grow by 2.4 million barrels per day (mb/d), unchanged from July’s assessment.

    It said upward revisions to the first quarter of 2023, based on actual data received for the Organisation for Economic Cooperation and Development (OECD) America and OECD Europe, was completely offset by downward revisions to 2Q23, mainly in Europe and Other Asia.

    “In the OECD region, oil demand in 2023 is anticipated to rise by 74 thousand barrels per day (tb/d), to an average of 46.0 mb/d.

    “While in the non-OECD region, total oil demand is anticipated to rise by nearly 2.4 mb/d, to average 56.0 mb/d,” the report said.

    It stated that for 2024, world oil demand was forecast to grow by a healthy 2.2 mb/d, unchanged from the previous assessment.

    According to the report, the OECD is anticipated to expand by about 0.3 mb/d, with OECD Americas contributing the largest increase.

    It added that the non-OECD was set to drive growth, increasing by around 2.0 mb/d, with China, the Middle East and Other Asia contributing the largest share, with further support from India, Latin America, and Africa.

  • Health trainees threaten firm action against govt if outstanding 2-year allowances aren’t settled

    Health trainees threaten firm action against govt if outstanding 2-year allowances aren’t settled

    The Coalition of Health Trainees, in a move that underlines their growing frustration, has issued a firm six-day ultimatum to the government to settle unpaid allowances. 

    Conveying their exasperation, Emmanuel Awuku, the General Secretary of the coalition, stated in an interview that they had exhibited considerable patience while anticipating the arrival of their allowances. Nevertheless, their patience is diminishing rapidly, and they are ready to resort to more severe actions if their requests remain unaddressed.

    “We may consider resorting to a much louder step upon our next interaction if the long-awaited alert is not received in the next six days. We shall therefore urge everyone involved in this to do the needful so we can also play our part in the seat of Moses to calm down our nerves,” he stated.

    He emphasised that the financial strain caused by the withheld allowances was significantly impacting the trainees across the entire country, adding that the allowances were crucial in sustaining their educational pursuits.

    “All health trainees have the constitutional right to receive allowances and the trainees in the schools of hygiene across the country are no exception. However, it is becoming as if this is not the case at all. We as hygiene trainees haven’t received any of such monies for two years now for some and 10 months for others.”

    “This we have observed is becoming a culture because anytime it is time for the payment of our allowances, the students’ leadership on our side will have to travel to and fro engaging stakeholders with their limited resources,” he further said.

  • I’m not ready to explain my exit from Highly Spiritual record label – Lasmid

    I’m not ready to explain my exit from Highly Spiritual record label – Lasmid

    Lasmid, a previous artist under the Highly Spiritual music record label, maintains that he is not prepared to elaborate on the specific details of the events that unfolded between him and his former manager, resulting in his departure.

    “I’m not ready to talk about what exactly happened”, Lasmid said in an interview with Kingdom FM monitored by MyNewsGH.com.

    When pushed further, he stressed, “Nothing has happened and there is nothing behind his decision to part ways with the label.

    Kaywa in an earlier interview expressed his disappointment in Lasmid saying,

    “Someone like Lasmid, after investing and pushing to put him to the next level, he decided to leave. If I talk about the investment, you will know it really went deep. Lasmid is someone I really love a lot, so I personally tried to push him. Someone like Drew will even accuse me of using their money to push this guy, but I still went ahead because I knew the potential he had.”

    According to the Highly Spiritual Music boss, after Lasmid’s song, “Friday Night” became a hit, he expressed his eagerness to renew their contract but the latter developed cold feet.

    Kaywa said Lasmid had a change of mind and sought legal advice, which eventually led to what he described as outrageous demands and the further termination of their relationship.

    Kaywa believes that Lasmid’s decision to leave the label was influenced by his association with other artistes who may have influenced his thinking and the perception that he had become too big for the label.

  • David Oscar reacts to DKB over ‘blatant lies’

    David Oscar reacts to DKB over ‘blatant lies’

    Ghanaian comedian, David Oscar Dogbe has reacted to DKB’s claim that he betrayed him.

    During an appearance on Joy Prime’s morning show, comedian DKB conveyed his dissatisfaction regarding the ill-treatment he received from his colleague David Oscar, despite his dedicated endeavours to nurture Oscar’s professional growth.

    DKB again added that Oscar did not only betray him but also tried to destroy his career.

    He said “People I helped to become who they are by God’s grace connived to bring me down. The most painful one was David Oscar. I behaved like a soldier, stood behind him, fought Charterhouse so aggressively, and made Charterhouse my enemy, of which I didn’t care, only for David Oscar to later turn against me because I made him fight Charterhouse. It was painful.”

    But in a swift response to DKB, David Oscar took to his Facebook page to refute what he has said.

    According to him, all that DKB said are blatant lies, and at the right time, he will also come out with the truth when given the opportunity.

    He wrote “Greetings my people, kindly permit me to share this story here with you. Read it carefully and make your notes, for at the right time (God willing), when I am also given the opportunity by the same website or media outlet (If they wish to, since I’m still alive and can be reached for my comments anytime).

    “I will also point out to you the blatant lies that have been published in this story about me.

    “For now, though, I am busily working towards my show Reggae Spot Music Festival which comes off in my home city of KOFORIDUA in November. #Medaase ????????, he added.

  • Man, 32, evades authorities after assaulting girlfriend, her sister, and mother 

    Man, 32, evades authorities after assaulting girlfriend, her sister, and mother 

    Authorities in the Western North region are actively searching for Rojer Addoquaye, a 32-year-old individual, following accusations of assaulting his girlfriend, her sister, and mother. This altercation stemmed from a disagreement involving unreturned late-night phone calls and suspicions of infidelity.

    As per a report aired on Onua FM’s Midday News on August 11, 2023, Addoquaye reportedly approached Abigail Kyerematen, his 22-year-old girlfriend who is a student in a Senior High School (SHS), and accused her of being unfaithful. He attributed her lack of response to his nocturnal phone calls to this suspicion.

    The news coverage provided a comprehensive account that Addoquaye subsequently went to Abigail’s house to collect certain items he had bought for her. This visit led to the situation escalating into a physical clash, during which all three members of Abigail’s family were allegedly subjected to physical assault.

    Providing her perspective on the incident in the aforementioned report, Abigail shared, “I was sleeping in the room and he called me, so we talked and I told him that I was sleeping…and he said he came to my house around 11 pm to knock on my door but I couldn’t hear because I was asleep, so I didn’t open the door…

    “Yesterday evening I was in the house when he came to ask me why I couldn’t pick his calls at night, and that, is it because I was having an affair with a man in the room?”

    Abigail continued, “He bought a phone for me, so he said he was coming for the phone. I told him that if he is coming for the phone, then he should allow me to remove my SIM card and give the phone back to him.

    “He was struggling with us in the house…and he really beat us—myself, my sister, and my mother…he even damaged the phone. He also damaged a TV in the room.”

  • Russia shoots down drones in Crimea as explosions heard at Kerch bridge

    Russia shoots down drones in Crimea as explosions heard at Kerch bridge

    There have reportedly been explosions along the Kerch Bridge in Crimea, which connects Russia with the occupied area.

    Russian-appointed officials assert that they shot down two drones in the vicinity and that no bridge damage has occurred, despite the temporary suspension of traffic.

    Smoke can be seen erupting from the bridge in a video of it.

    The report was released after Russian troops overnight destroyed 20 drones over Crimea.

    The ministry announced in a Telegram message that 14 drones were shot down by Russian air defences and an additional six were electronically jammed. There were no reported injuries or damage.

    The drone strikes on Moscow, the capital of Russia, lasted three days in a row before the nocturnal attacks.

    Drone attacks on Russia have little clear military benefit for Ukraine after more than 17 months of hostilities, but the tactic has succeeded in unsettling Russians and making the war’s repercussions real to them.

    Drone strikes on Moscow and Crimea, which Russia took from Ukraine in 2014 and which the majority of the world viewed as illegitimate, have risen in recent weeks.

    Officials in Kiev have not acknowledged or denied any involvement by Ukraine in the attempted strikes.

    In a separate incident, Russia asserted that a nighttime counterattack had allowed it to retake control of the town of Urozhaine in eastern Ukraine’s Luhansk area.

    According to Oleh Syniehubov, the regional governor, a 73-year-old woman was killed early on Saturday morning during Russian shelling of Ukraine’s north-eastern Kharkiv area.

    Ihor Klymenko, the minister of internal affairs for Ukraine, reported that a guided Russian aerial bomb struck the city of Orikhiv in the country’s partially controlled southern Zaporizhzhia region, killing one police officer and injuring 12 others.

    He claimed that four of the injured also included police officers.

    Since Russia began its full-scale invasion in February 2022, the city of Odesa on Ukraine’s Black Sea coast has opened a number of beaches.

    Six beaches, according to Odesa Governor Oleh Kiper, are open, but he emphasised that it is not permitted to enter beaches when there is an air raid alert.

    Since Moscow cancelled a historic grain deal last month amid Kyiv’s relentless efforts to retake its occupied territories, the strategic port and major hub for grain exports has been repeatedly targeted by missile and drone attacks, and Russian mines have frequently washed up on the city’s beaches.

  • Tory Lanez issues a statement following his 10-year sentence

    Tory Lanez issues a statement following his 10-year sentence

    Canadian rapper Tory Lanez has maintained his innocence after he was sentenced to a decade in jail for shooting Megan Thee Stallion in the foot.

    The rapper asserted that he has been wrongfully convicted and stands firm in his refusal “to apologize for something that I did not do.”

    Lanez was found guilty on charges of assault with a semiautomatic firearm, possessing a concealed and loaded firearm in a vehicle, and negligently discharging a firearm.

    Despite the verdict, Lanez maintains his innocence and has addressed the issue in a heartfelt message.

    Addressing his supporters, Lanez expressed,

    “To The Umbrellas,

    I have never let a hard time intimidate me

    I will never never let no jail time eliminate me

    Regardless of how they try to spin my words, I have always maintained my innocence and I always will.

    This week in court I took responsibility for all verbal and intimate moments that I shared with the parties involved….

    That’s it.

    In no way shape or form was I apologizing for the charges l’m being wrongfully convicted of. I remain on the stance that I refuse to apologize for something that I did not do.

    I’ve faced adversity my whole life and every time it looked like I would lose, I came out on top. This is nothing but another moment where my back is against the wall and I refuse to stop fighting till I come out victorious.

    Tough times don’t last, tough people do.

    To my family, friends and umbrellas thank you for your continued support.

    See you soon.”

    The 31-year-old rapper was given the sentence in the Los Angeles Superior Court on Tuesday for shooting the Savage hitmaker in both feet after a party in July 2020.

  • Six people killed and 51 others rescued after migrant boat capsized in English Channel

    Six people killed and 51 others rescued after migrant boat capsized in English Channel

    A boat transporting asylum seekers capsized in the English Channel, killing six people.

    Following a coordinated operation by the British and French coastguards, 51 persons have been saved.

    Although the severity of the other injuries is unknown, several individuals were observed being carried off a lifeboat at Dover, Kent, on stretchers.

    The RNLI reported that a lifeboat crew launched immediately before 4:00 BST.

    According to France’s Maritime Prefecture of the Channel and the North Sea, up to six persons were transported by helicopter to a hospital in Calais, where one person was later declared dead.

    According to a local prosecutor who spoke to AFP news agency, the first casualty was an Afghan male between the ages of 25 and 30.

    According to a volunteer on board, migrants were using their shoes to bale water out of the sinking boat.

    There were too many people on the boat, Anne Thorel remarked in reference to her group’s 54 lifesaving efforts that included one woman.

    15,826 persons had used a small boat to cross the Channel as of August 10.

    It is expected that Suella Braverman, the home secretary, will preside over a meeting with Border Force representatives.

    This morning, Ms. Braverman will meet with Small Boats Operational Command Gold.

    Her ‘thoughts and prayers’ were with the people impacted by the tragedy in the Channel, she continued.

    According to a spokeswoman for the UK government, “We are aware of an incident in the Channel.” A coordinated response is being developed by HM Coastguard, and more details will be given as soon as possible.

    In addition to Folkestone and Langdon Bay coastguard rescue teams, the Dover Royal National Lifeboat Institution (RNLI) crew and South East Coast Ambulance have been dispatched to assist.

    Natalie Elphicke, a Dover MP, stated that the episode demonstrated the necessity for combined patrols on the French coast.

    The French authorities should, she argued, “clearly” prevent these crammed-to-capacity death traps from ever leaving the French shore.

    The Refugee Council’s chief executive, Enver Solomon, hailed the rescues for their efforts while pleading with the UK government to create a “orderly and humane asylum system.”

    Stephen Kinnock, a shadow immigration minister, called the most recent occurrence “an appalling, deeply shocking tragedy.”

    “We need to halt these crossings and take down the nefarious people smugglers.”

    He stated on Twitter that “there can be no more headline-chasing gimmicks or madcap schemes that just make everything worse.”

    The prosecutor’s office in Boulogne has started an inquiry.

  • Russia cautions ECOWAS against using force

    Russia cautions ECOWAS against using force

    Following the announcement by regional organisation ECOWAS that it would build a standby force, Russia issued a warning that military intervention in Niger would result in a “protracted confrontation.”

    The Russian foreign ministry warned that such an intervention would cause instability throughout the Sahel region.

    formally supporting the coup. Russia does not.

    The US, meanwhile, which supports efforts to reinstate ousted leader Mohammed Bazoum, claims that its Wagner mercenary force is profiting from the unrest.

    At a French military installation close to the capital of Niamey on Friday, coup sympathisers demonstrated with some carrying Russian flags and yelling “down with France, down with ECOWAS.”

    In Niger, military outposts operated by the US and France have been used to start operations against Islamist groups elsewhere in the area.

    According to reports, military representatives from Ecowas nations will meet on Saturday to develop plans for a military intervention.

    However, Nigeria’s President Bola Tinubu declared on Thursday that “no option is taken off the table, including the use of force as a last resort.” The bloc has stated that it is still open to finding a diplomatic solution to the problem.

    The US has urged the junta to step down and allow the restoration of the nation’s democratic constitution without expressly endorsing military intervention.

    The most recent declarations from Ecowas leaders have received no response from the Niger junta.

    Fears are mounting for Mr. Bazoum’s health and safety as he is being held captive since the military overthrew the government on July 26.

    According to Josep Borrell, the head of EU foreign policy, he and his family had been “deprived of food, electricity, and medical care for several days.”

    Volker Turk, the UN’s commissioner for human rights, stated that he had reliable information that the custody conditions “could amount to inhuman and degrading treatment”.

    According to the rights organisation Human Rights Watch, Mr. Bazoum informed them last week that he and his family were subjected to “inhuman and cruel” treatment.

    According to Mr. Bazoum, “My son is sick, has a serious heart condition, and needs to see a doctor,” he told them, according to HRW.

  • Ukraine dismisses conscription officers for accepting bribes

    Ukraine dismisses conscription officers for accepting bribes

    In an anti-corruption operation, conscription officials in Ukraine who were accused of accepting bribes and smuggling people out of the country were fired.

    More than 30 people are charged with crimes, according to Volodymyr Zelensky, who also announced the removal of all regional officials in charge of military conscription.

    Bribery, in his words, is “high treason” during a time of war.

    It occurs as Ukraine’s counteroffensive operation continues and attempts are made to strengthen the military forces.

    Allegations of corruption “pose a threat to Ukraine’s national security and undermine confidence in state institutions,” according to a statement from the president’s office.

    It said that people with military experience who have undergone vetting by the intelligence service will be chosen to serve as replacement officials.

    One of the accusations, according to Mr. Zelensky in a video shared on social media, is that officials helped persons eligible to be called up to fight leave Ukraine or accepted cash and cryptocurrency bribes from officials.

    All men in Ukraine who are physically capable of fighting over the age of 18 are eligible for conscription, and the majority of adult men under the age of 60 are forbidden from leaving the country.

    He announced, “We are dismissing all regional military commissars.”

    “People who understand exactly what war is and why cynicism and bribery during a time of war is high treason” should administer this system.

    He stated that the system of conscription “is not working decently” and added, “The way they treat warriors, the way they treat their duties, it’s just immoral.”

    After an assessment of the local army offices, the corruption was discovered.

    According to Mr. Zelensky, violations against regional officials have been discovered all around the nation, and 112 criminal processes have been opened against 33 suspects.

    Despite not disclosing the number of deaths among their troops since the invasion in February 2022, Russia and Ukraine have both been aggressively recruiting new troops.

    The Zelensky administration has recently begun a new anti-corruption campaign.

    Ukraine has a long history of corruption in the public sector, and eliminating it is one of the requirements for joining Western institutions like the European Union.

    Ukraine is ranked 116th out of 180 nations in Transparency International’s Corruption Perceptions Index, but because to recent improvements, it is now in a much better place.

  • 17-year-old suspect pleaded not-guilty in relation to hate crime

    17-year-old suspect pleaded not-guilty in relation to hate crime

    The 17-year-old defendant pleaded not guilty to charges of second-degree murder in the context of a hate crime after fatally stabbing a gay man in New York.

    On 29 July, O’Shae Sibley and his pals were voguing at a petrol station in Brooklyn when a fight with some teens started.

    Before the suspect stabbed Mr. Sibley in the chest, according to the prosecution, the minors allegedly screamed homophobic and racist epithets.

    The attacker, charged as an adult, might spend the rest of their lives behind bars.

    He was identified as Dmitriy Popov, a final-year student at a nearby secondary school, at his first court appearance on Friday.

    His attorney, Mark Pollard, told reporters that “nothing about his past or history shows that he’s the kind of person to commit this crime.”

    He implied that his client might claim he acted in self-defense while denying that his client had uttered any insults.

    The prosecution wants to show that the suspect’s “targeted” and “senseless” conduct were motivated by prejudice towards Black people and LGBT people.

    Brooklyn District Attorney Eric Gonzalez stated during a news conference on Thursday, “We’re going to stand up for Mr. Sibley, for the right he had to dance and be exuberant, for the right he had not to stop dancing because it offended someone else.”

    Hate crimes affect the victim, but they also affect the community. It deprives not just the family but also the entire community of their sense of security.

    A skilled dancer and choreographer named Mr Sibley and his companions were leaving the beach when they stopped at a petrol station in the Midwood neighbourhood of Brooklyn.

    They were dancing to songs from Renaissance, a Beyoncé album that is regarded as a love letter to black gay dance culture, while at the petrol station. Voguing is a dance style connected to artistic expression and resistance in LGBT communities.

    The two sides of a heated argument can be seen walking away in the surveillance video before Mr. Sibley comes and confronts the 17-year-old with his phone before lunging at him.

    The teenager allegedly stabbed Mr. Sibley in plain sight of the cameras, according to the prosecution, who also said they did not think Mr. Sibley’s actions “caused for someone to take a weapon and do what was done in this case.”

    In response to a murder, protests and candlelight vigils with voguing have been conducted in New York, Los Angeles, and other cities.

    A murder that has touched a nerve within the LGBT community has sparked protests and vigils in New York, Los Angeles, and other cities.

    At Mr. Sibley’s funeral, held on Tuesday in a historic opera house in his birthplace of Philadelphia, about 200 people paid their respects.

    Otis Pena, a close friend who was at the petrol station, said of O’Shae, “He had the power to touch everyone’s heart, whoever met him.” For many of us in our community, O’Shae was a guiding light.

    Others praised Mr. Sibley’s career in dance, which began when he was three years old and included teaching at the Alvin Ailey American Dance Theatre and performing with the Philadelphia Dance Company.

    The dancing group declared that it has created a scholarship in his honour “to inspire other students to follow their dreams, like he did.”

  • 7 alternatives to breast feeding for nursing mothers

    7 alternatives to breast feeding for nursing mothers

    For nursing mothers who are unable or choose not to breastfeed, there are alternative feeding options available for their babies. These alternatives include:

    1. Formula Feeding: Commercial infant formula is designed to provide the necessary nutrients for a baby’s growth and development. There are various types of infant formulas available, such as cow’s milk-based, soy-based, and specialized formulas for specific dietary needs.
    2. Expressed Breast Milk: Mothers can use a breast pump to express their breast milk and feed it to their baby using a bottle. This allows the baby to benefit from the nutritional content of breast milk while providing the flexibility of bottle feeding.
    3. Donor Milk: Donor breast milk from a milk bank can be used if a mother’s own breast milk is unavailable or insufficient. Donor milk is rigorously screened and pasteurized to ensure safety.
    4. Cup Feeding: This involves using a small cup to feed the baby expressed breast milk or formula. It’s an alternative to bottle feeding and can help prevent nipple confusion for breastfed babies.
    5. Syringe Feeding: A syringe without a needle can be used to feed small amounts of milk to a baby. This method is often used for premature or very young babies.
    6. Finger Feeding: A clean finger with a small amount of milk on it can be used to feed a baby. This method can be useful for babies who are having difficulty latching onto the breast or bottle.
    7. Tube Feeding: In cases where babies are unable to feed orally due to medical conditions, a small tube can be placed through the nose or mouth into the stomach for feeding.

    It’s important for nursing mothers to consult with healthcare professionals, such as pediatricians or lactation consultants, to determine the best feeding option for their specific situation. Every baby’s needs are unique, and the chosen feeding method should prioritize the baby’s health and well-being.

  • Amerado and I are not on the same level though we’ve both won VGMA Best Rapper – Lyrical Joe

    Amerado and I are not on the same level though we’ve both won VGMA Best Rapper – Lyrical Joe

    Ghanaian rap artist Lyrical Joe, also known as LJ, has shared insights into his musical journey in tandem with fellow rapper Amerado.

    Despite both artists having clinched the esteemed Vodafone Ghana Music Awards (VGMAs) for best rapper, LJ clarified that they don’t necessarily align on the same artistic plane.

    In an interview with Ameyaw TV, he acknowledged that they are both award-winning rappers, but he believes they are not equal in terms of their rapping abilities. LJ highlighted that winning the VGMA Best Rap Performance Award is a significant achievement that requires a lot of skill.

    So, while they both have one award each, their rapping styles and skills set them apart. In his words, ” We are both award-winning rappers, as for that one I agree, but when it comes to rapping, we are not equal. oh yes, I mean it’s not just anyone that can win VGMA’s best rap performance award, it takes a whole lot. So if it comes to that place, I have one and he also has one but when it comes to rappers, are we the same? No, I’m on a whole different lane.”

    The tension between LJ and Amerado started in 2022, when they traded some diss tracks. The disagreement began with Eno Barony’s song “The Finish Line,” where Amerado took a shot at LJ, claiming to be a more dominant figure in the rap scene.

    This was after LJ had won the Best Rap Performance award at VGMA 2022, a recognition that some fans expected Amerado to receive, given his win at the 2022 3Music Awards.

    Amerado’s comment did not sit well with LJ, who responded with a freestyle where he challenged Amerado’s sense of superiority and criticized his craft.

  • Biden’s son being investigated by special counsel

    Biden’s son being investigated by special counsel

    The US attorney general has declared that a special counsel with expanded authority will now be looking into Joe Biden‘s son Hunter.

    David Weiss, the federal prosecutor who has already brought charges in the case, now has more respect due to Merrick Garland.

    The president’s son’s plea agreement on tax and gun charges was rejected earlier this month.

    The investigation of Hunter Biden‘s financial transactions is being pushed for by Republicans.

    Mr. Garland indicated that he was making the decision in response to a request made by Mr. Weiss earlier this week in a shocking revelation at the Department of Justice on Friday.

    The new classification will provide the prosecutor additional tools to carry out the investigation and perhaps file charges outside of Delaware.

    When the special counsel’s job is complete, Mr. Garland said a report will be produced, and the justice department will make as much of it public as is practical.

    “The appointment of Mr. Weiss reinforces for the American people the department’s commitment to both independence and accountability in particularly sensitive matters,” Mr. Garland said at a news conference.

    Chris Clark, Hunter Biden’s attorney, responded in a statement, saying, “We are confident that when all of these manoeuvres are over, my client will have resolution and will be successfully moving on with his life.”

    The probe has already been ongoing for five years, Mr. Clark noted.

    In 2018, former President Donald Trump chose Mr. Weiss to fill the position of US attorney in Delaware. Soon after, in 2019, he began an investigation into claims that Hunter Biden had engaged in criminal activity.

    According to the US Attorney’s Office in Delaware, Hunter Biden has since been charged with two misdemeanour tax offences for allegedly failing to pay income taxes in 2017 and 2018, years in which he made more than $1.5 million (£1.1 million).

    He is also accused of taking illegal narcotics and having a gun in his possession, which is a felony.

    Hunter Biden earlier made a deal with the prosecution to accept guilt to the firearms violation and to the tax charges in order to avoid going to jail.

    Judge Maryellen Noreika of the US District Court rejected the agreement due to its “non standard terms” and the “unusual” character of the suggested resolution for the gun accusation.

    Hunter Biden has since attempted to reach a plea agreement with the prosecution, but to no avail. In a court document filed on Friday, Mr. Weiss’s legal team stated that they now anticipate that the matter will go to trial and that they may bring additional, more serious accusations in California or Washington, DC.

    Republicans want the president and the younger Mr. Biden to both face additional criminal charges. They assert that Mr. Biden benefited financially from his son’s business ventures in China and the Ukraine.

    Speaker of the House Kevin McCarthy stated that regardless of the special counsel’s appointment, the Republican-led body would still be looking into the president and his son.

    He shared the worry of several Republicans who felt that Mr. Weiss’s investigation had not been aggressive enough.

    Other Republicans have questioned whether the push to relocate the trial from Delaware, where it had been overseen by Ms Noreika, a Trump appointee, was an effort to find a legal setting more accommodating to the Bidens.

    The White House dismissed the charges as “insane conspiracy theories” and denied Mr. Biden’s involvement in his son’s business dealings.

    Mr. Weiss has been looking at this issue for years. He has not yet discovered any proof that Hunter Biden’s business interests have profited from his father’s position as president.

    The special counsel’s appointment, together with the potential for further charges that might result in a jury trial, almost guarantees that the investigation into Hunter Biden will continue well into the 2024 presidential election cycle, if not past the actual election day. White House officials will continue to be distracted by it even if they had hoped for a resolution not long ago.

    However, the decision on Friday might help dispel some of the conservative arguments that the US has two sets of justice—one for Republicans and one for the Bidens.

  • Enough is enough! – BoG provokes strong reaction from Minority

    Enough is enough! – BoG provokes strong reaction from Minority

    The Parliamentary Minority has reacted to the Bank of Ghana’s reply regarding their 2022 released annual report and financial statements.

    As per the Minority, the response from the Bank of Ghana fails to tackle the primary concern, which revolves around the printing of money by BoG on behalf of the Akufo-Addo/Bawumia/NPP administration in 2021 and 2022. This, according to them, directly violates Section 30 of the Bank of Ghana (Amendment) Act, 2016 (ACT 918).

    The Minority observed that within the statement, the Bank of Ghana fails to provide any plausible rationale for producing a significant sum of GHC35 billion in 2021 and GHC42 billion in 2022 to support the Akufo-Addo/Bawumia/NPP administration. This action, they emphasized, directly violates their governing legislation.

    The Minority in a statement signed by its leader, Dr Cassiel Ato Forson described as an indisputable fact, that the amount of monies printed by BoG for the Akufo-Addo/Bawumia government both in 2021 and 2022 far exceeds the legally acceptable threshold of 5% of the previous fiscal years’ total revenue.

    This the Minority alleged the central bank did without cognizance of the legal duty imposed on the Governor of BoG to inform the Minister of Finance, who is required upon notification from the Governor of BoG to notify Parliament of the attainment of the 5% threshold and/or the setting of a new limit of government’s borrowing.

    The statement indicated that the facts show that BoG acted as law unto itself by willfully engaging in the illegal printing of monies to finance the Akufo-Addo/Bawumia/NPP government both in 2021 and 2022.

    It said the illegal conduct of the Governor of BoG constitutes a criminal offense under section 67 of the Bank of Ghana Act and cannot be wished away by the flimsy justifications mounted by the Bank in the multiple press statements they have issued in the last couple of days.

    Read details of the Minority’s full statement below:

    PRESS STATEMENT

    For Immediate Release

    August 11, 2023

    RE: RESPONSE TO PARLIAMENT’S MINORITY GROUP ON BANK OF GHANA’S 2022 PUBLISHED ANNUAL REPORT AND FINANCIAL STATEMENTS

    The NDC Caucus in Parliament has noted with dismay a press statement from the Bank of Ghana dated 9th August 2023 which purports to respond to our press conference on the above-subject held on 8th August, 2023.

    In the said press statement, the Bank of Ghana attempts to shamelessly justify its recklessness and mismanagement which resulted in the huge losses of GHS60.8 billion and the negative equity of GHS55.1 billion it recorded in the year 2022.

    As a matter of fact, the Bank of Ghana’s unsigned press statement, is full of deliberate distortions and flimsy justifications which do not address the serious matters that were raised in our Moment of Truth presser last Tuesday.

    The Minority caucus hereby responds as follows:

    1. The referenced Bank of Ghana’s statement does not address the most fundamental issue which has to do with the printing of money by BOG for the Akufo-Addo/Bawumia/NPP government in 2021 and 2022 in clear contravention of Section 30 of the Bank of Ghana (Amendment) Act, 2016 (ACT 918). Indeed, throughout the statement, BOG does not and could not have offered any reasonable justification for printing a whopping GHS35 billion in 2021 and GHS42 billion in 2022 to finance the Akufo-Addo/Bawumia/NPP government, in clear breach of their governing law.

    It is an indisputable fact, that the amount of monies printed by BOG for the reckless Akufo-Addo/Bawumia government both in 2021 and 2022 far exceeds the legally acceptable threshold of 5% of the previous fiscal years’ total revenue.

    This the Bank did without cognizance of the legal duty imposed on the Governor of BOG to inform the Minister of Finance, who is required upon notification from the Governor of BOG to notify Parliament of the attainment of the 5% threshold and/or the setting of a new limit of government’s borrowing.

    Indeed, the facts show that BOG acted as law unto itself by willfully engaging in the illegal printing of monies to finance the recklessness of the Akufo-Addo/Bawumia/NPP government both in 2021 and 2022.

    This illegal conduct of the Governor of BOG constitutes a criminal offense under section 67 of the Bank of Ghana Act and cannot be wished away by the flimsy justifications mounted by the Bank in the multiple press statements they have issued in the last couple of days.

    As a matter of fact, contrary to claims by the Governor of the Central Bank and his deputies that they were committed to promoting a cash-lite economy, they have been printing higher denominations of new GHS100 and GHS200 notes.

    This together with the large injections of money into the economy caused currency-outside-banks to increase from GH¢14 billion in 2019 to GHȼ31.4 billion by 2022, representing an increase of over 124%.

    Strangely, while the BoG kept increasing its policy rate and undertaking these injections at the same time, they knew very well that their actions could spike inflation and result in the Bank incurring significant costs.

    As a direct consequence of the illegal printing of monies by the Bank of Ghana, the rate of inflation in the country spiraled to hyper levels last year, when Ghana recorded a record-high inflation rate of 54.1% in December 2022.

    It bears reminding the Bank of Ghana that according to a recent World Bank report, this hyperinflation which was mainly occasioned by their recklessness and mismanagement, pushed over 850,000 people into poverty.

    It is therefore totally irresponsible for the managers of the Bank of Ghana to conveniently ignore these serious legal infractions which have brought untold hardships on Ghanaians and rather engage in flimsy justifications and needless equalizations.

    2. Secondly, on the very important issue of the illegal write-off of about GHS48 billion debt owed by the government to the Bank of Ghana, the explanation canvassed by the Central Bank in its statement of 9th August, 2023 is untenable, as it has no legal basis whatsoever.

    The Bank of Ghana ought to know, that the mere reference to Government’s intention to engage in a domestic debt exchange program (DDEP) as communicated by the Finance Minister in the 2023 budget statement to Parliament, does not and cannot justify the bank’s breach of section 53 of the Public Financial Management Act, 2016.

    For emphasis, a mere declaration of intent to Parliament by the government to engage in debt restructuring does not amount to a resolution or approval by Parliament for BOG to write-off public funds. Neither does the IFRS accounting standard referred to by the Bank of Ghana permit the writing-off of public funds without Parliamentary approval.

    We wish to state unequivocally for the records, that at no point has the Finance Minister presented a report to Parliament informing the house of the attainment of the 5% borrowing threshold or the setting of a new limit of government borrowing as required by section 30 of the Bank of Ghana Act. Nor has the Finance Minister sought the approval of Parliament for BOG to write-off any public funds, as required by section 53 of Public Financial Management Act 2016 (Act, 918).

    The Bank of Ghana must do the needful by immediately reinstating the illegally written off liability of Government and stop the baseless justifications they are mounting.

    3. It is instructive to note that, the Bank of Ghana has for the first time admitted that Ghana’s present economic malaise has been accessioned by a “culmination of fiscal overruns and debt distress” which resulted in Ghana losing access to both domestic and international markets, with its attendant credit rating downgrades, high currency depreciation, hyperinflation among others.

    It is worthy of note, that for the first time, the Governor of the Bank of Ghana has effectively confessed, that COVID-19 and the Russia Ukraine war are not the main causes of our present economic woes as a country, but rather “fiscal overruns and debt distress” starting from 2019.

    This confession by the Bank of Ghana, confirms the NDC’s long-held view that the economic mess we have on our hands is the product of the reckless borrowing and expenditures of the Akufo-Addo/Bawumia/NPP government.

    Sadly, instead of advising the government to embark on the needed fiscal reforms and adjustments, the Bank of Ghana confesses that they decided to fund the recklessness of the government by engaging in the illegal printing of monies for the government, part of which they have illegally written off without recourse to Parliament.

    The managers of the Bank of Ghana must recognise that the economic difficulties it alludes to in its statement of 9th August, 2023 are all self-inflicted and cannot be reasonable justification for the palpable illegalities they have engaged in and the unprecedented mess they have created.

    4. Additionally, we wish to make the point, that none of the explanations put forward by the Bank of Ghana in its press statement of 9th August, 2023 can rationalize or justify the outrageous operational expenditures they engaged in 2022, as reported by their Auditors in the 2022 Annual Report and Financial Statements of the Bank.

    We maintain, that despite the high rate of inflation and currency depreciation recorded last year as a result of the recklessness of BOG and the Akufo-Addo/Bawumia/NPP government, it was unconscionable and unacceptable for BOG to have spent a staggering GHS131.6 million on vehicle maintenance; GHS67.9 million on computer-related expenses; GHS97.4 million on foreign and domestic travels; GHS32 million on communication expenses; and GHS357.9 million on banking supervision, in 2022 alone.

    We say so because the severe economic difficulties the nation has been plunged into by the Akufo-Addo/Bawumia government with the abetment of BOG, calls for prudence and austerity by all state institutions including the Central Bank.

    It is totally reprehensible, that the fees of the very Directors who have supervised this mess were increased by about 80% in the year 2022 alone.

    5. Even more bizarre is the contrived justification for the new BOG head office which is costing the taxpayer a colossal $250 million (GHS3 billion) at this time of excruciating hardships for the nation.

    The excuse that the current Bank of Ghana Head office is not earthquake resistant is most ridiculous to say the least.

    We need not remind the Bank of Ghana that previous Governors and Directors of the bank maximized the operations and profit of the bank from that same old facility by deploying more reasonable options of relocating aspects of the bank’s operations to the Cedi House and another facility of the Bank on the Spintex Road.

    The question BOG must answer is that; if at the time the Bank of Ghana recorded successive years of profit under NDC/Mahama government (2012-2016), the managers of the bank did not consider a new office complex an urgent priority but rather invested in the construction of the BOG hospital to support the healthcare needs of the country, how can BOG prioritize a new $250 million dollar office complex at a time it has recorded an unprecedented loss of GHS60.8 billion and a negative equity of GHS55.1 billion?

    It is instructive to note, that the cost of the ill-timed new head office complex the BOG is rapidly putting up is four times the cost of the ultramodern Ecobank Head Office building and six times the cost of Kempinski hotel in Accra.

    In fact, our conservative estimates show that the cost of the new head office complex the BOG is putting up can build at least, 3,750 new six (6)-unit classroom blocks to expand access to education or at least 3,500 CHP compounds to improve the access to health care delivery in the country.

    It is also instructive to note, that the cost of the new Bank of Ghana head office complex is more than the capital expenditure allocation of the Ministry of Roads and Highways and the Ministry of Transport put together.

    Clearly, the outrageously expensive new head office complex of BOG is a misplaced priority. There can be absolutely no justification whatsoever for this profligacy at a time the Bank of Ghana must be concerned about its immediate recapitalization.

    6. In the BOG press release dated August 9, 2023 the Governor stated that “This financial outcome has very little implication for the operations of the Bank of Ghana as supported by evidence from other Central banks”.

    This statement is completely erroneous and must be treated with utmost contempt. The truth of the matter is that the Central banks BOG is referring to, did not underwrite the insolvency or bankruptcy of their Governments. Neither did they violate their governing laws with impunity as BOG has done. Hence, they would have space to absorb temporary losses unlike BOG.

    The unprecedented losses incurred by BOG counts for various reasons and must not be taken lightly at all.

    The BOG must understand that losses can reduce its gravitas and authority in supervising the financial sector. Also, losses can limit its ability to engage in effective monetary operations and impair its ability to use moral suasion in the discharge of its mandate.

    7. In their press statement of August 1, 2023, BOG referred to a statement by the external auditors that “even though BOG would have a significant negative equity based on the huge impairment from 2022, structures are in place to ensure that the BOG remains policy solvent and well able to deliver on its primary mandate”.

    This is clearly a misleading statement because it assumes that government would be able to recapitalize BOG over time and that the achievement of macroeconomic stability would in turn restore policy solvency to BOG.

    As BOG itself stated, “the inability to cover costs and build sufficient buffers over the long term may require capital injection from the government which can undermine its independence and credibility of monetary policy and also affect public confidence in the Central bank’s operations”.

    We must be mindful of government’s fiscal difficulties, hence the possibility that it may now be able to recapitalize BOG any time soon.

    Also, there could be exogenous shocks that can impact the economy going forward which can result in macroeconomic instability and a continued depreciation of the cedi, for which BOG could experience huge losses again.

    Therefore, the assessment of the External Auditors that the Central Bank will continue to remain policy solvent and discharge its mandate effectively should not be taken as a guarantee at all.

    Again, the impression should not be created as though BOG’s source of funding its operations is infinite. As BOG itself stated in its statement dated August 1, 2023, “a Central bank policy solvency is the ongoing ability to fund and implement operations in line with the policy aims for which it has independent responsibility without recourse to the government. Therefore, policy solvency requires sufficient realized revenues to cover costs and to build longer-term capital reserves allowing for independent and appropriate policy decisions”.

    8. Again, in their press statement dated August 1, 2023, BOG engaged in some unnecessary equalization by referring to other Central banks (not its peers) that have operated with negative equity. It also raised the issue of whether there is a difference between insolvency and negative equity; and, whether other Central banks (again not its peers) made losses in 2022.

    The fact remains that the countries cited by BOG are all advanced industrialized countries with different economic structures.

    Moreover, those countries did not finance their respective governments excessively, as BOG has done since 2019. Nor did they underwrite the insolvency of their governments like BOG has done.

    BOG should rather pay heed and listen to criticisms and stop the window dressing of the dire straits it finds itself in. BOG should accept that the Bank is at a historic low and request immediate help to coerce government to prioritize re-financing the Bank as a matter of urgency.

    CONCLUSION

    There is no gainsaying the fact that, the Governor, his deputies and directors of BOG have compromised their independence and made their continuous stay in office untenable.

    Their failed attempt to cite non-best practice as justification for their recklessness and mismanagement is most irresponsible to say the least, and yet another reason why they should pack out of the Bank of Ghana immediately

    The fate of BOG now hangs solely on the ability of the bankrupt Akufo-Addo/Bawumia/NPP Government to recapitalize it.

    In fact, it will take the nation more than 20 years to fix the mess that the current managers of BOG have created and move the bank from its current negative GHS55.1 billion equity to positive equity.

    There is an urgent need for BOG’s internal operations to be reviewed to ensure that no losses would be posted or repeated this year.

    The Governor, his deputies and entire Board have failed the nation and must resign without delay to begin the process of saving the BOG.

    Enough is enough!

    **END**

    DR. CASSIEL ATO FORSON, MP

    MINORITY LEADER

    THURSDAY, AUGUST 10, 2023

    ACCRA

  • Oil removed from abandoned ‘time bomb’ tanker off Yemen

    Oil removed from abandoned ‘time bomb’ tanker off Yemen

    Oil from a “floating time bomb” oil ship that was abandoned at sea in the Red Sea has been successfully removed, according to the UN.

    After a battle broke out in Yemen in 2015, the ship was abandoned there with more than a million barrels of oil still inside.

    The failing FSO Safer was anticipated to explode or disintegrate, resulting in a significant leak.

    The UN declared that an environmental catastrophe had been avoided, but it is unclear how the sale of the oil will be agreed upon by the warring parties.

    The international community, according to German Foreign Minister Annalena Baerbock, “defused a floating time bomb and prevented a potentially enormous environmental and health disaster.”

    To secure the rotting ship and purchase another tanker to transport the recovered oil, the UN organised a $120 million (£95 million) fundraising effort.

    The relocation in a body of water where naval mines were rumoured to be present took 18 days to complete.

    When it was abandoned at sea in 1976, the FSO Safer was carrying more oil than was lost in the Exxon Valdez catastrophe of 1989.

    It is anchored close to the Ras Isa oil port, which is under the opposition Houthi movement’s control in Yemen.

    The gang is still engaged in combat with a Saudi-led coalition in a war that has left much of the nation in ruins.

    The onerous work of decontaminating and scrapping the vessel is about to start, but it may be even more difficult to decide what will happen to the recovered oil, which is mostly controlled by the Yemeni state business SEPOC.

    There is no agreement on how the proceeds from the sale of the oil will be distributed among the combatants.

    Administrator of the UN’s development project Achim Steiner stated: “The best resolution to the story will be when that oil truly gets sold and completely departs the region.

  • Kafui Danku criticizes NPP govt for being charged GHC1000 at the salon

    Kafui Danku criticizes NPP govt for being charged GHC1000 at the salon

    Actress Kafui Danku accuses the NPP administration of imposing a GHC1000 fee on her when she visited an East Legon salon to have her hair braided.

    Kafui shared her terrible salon experience in a Facebook post earlier today explaining how the salon owner was rude and upset because her guest didn’t say hello.

    She expressed her disbelief at the bad treatment and how she was charged over 1000 Ghs for braids even though she was willing to pay.

    She also mentioned feeling sorry for the young girls working in such a poorly managed salon. Kafui also took a moment to express her frustration by adding that she blames the NPP government for her experience.

    “I can’t get over the bad experience I had yesterday at Braid Lounge in East Legon.” That woman is rude and the worst service provider I’ve encountered. She charged me 1000 plus GHS for braids, which I was willing to pay but had issues just because my guest didn’t say hello ! “Anokwa ! “Truly, I pity those young girls working in such a lousy salon!I went to church today o, so I’ll leave it here.“Who even charges 1000 GHS for common braids! “For such charges, service should be top-notch

    . “I blame the NPP government for all this.

  • Private Sector overtakes Public Sector in SSNIT Membership – Director General reveals

    Private Sector overtakes Public Sector in SSNIT Membership – Director General reveals

    Private sector membership in the Social Security and National Insurance Trust (SSNIT) has now exceeded that of public sector employees, as confirmed by SSNIT authorities.

    During the 2023 Employers’ Breakfast Meeting, Dr John Ofori-Tenkorang, the Director General, made this announcement.

    This event marked the fourth installment of a sequence of Employers’ meetings organized by SSNIT since 2019.

    The event was attended by employers, and was on the theme “Providing Pension for all, the role of the Employer”.

    He told journalists that private sector contributors represents 62.57 per cent of the total number of contributors currently.

    He said the active private sector contributors of the SSNIT Scheme currently stood at 1,207,111, constituting 62.57 per cent, while the public sector contributors stood at 694,436, representing 36.01 per cent, and the self-employed at 27,501, constituting 1.43 per cent.

    He further indicated that SSNIT is working to build more capital buffers in the next couple of years.

    This he explained is to ensure the sustainability of the Trust,

    “We had some headwinds vis-a-vis dividends from the banks last year. But we believe this is temporary and the next couple of years we will be back to trend.”

    He said “SSNIT will keep faith with contributors and ensure that when pension fall due we pay them,” he said.

    Ms. Pearl Nana Ama Darko, Director-General, Operations and Benefits, stated in her welcome address that these meetings have been highly informative and have generated important feedback for the Trust.

    She also stated that the sessions had strengthened the interaction between management and the employees.

    “I must say that we are very proud of you and your continuous commitment to ensure that your workers have futures that are fulfilling and reflective of the sacrifices they made during their work lives. Your consistent payments of their monthly social security contributions will ensure that they receive pensions when they retire due to old age or if become permanently invalid,” she said.

    SSNIT she said has made some significant strides on the service delivery front, with the support of the staff.

    “With your support, we were able to a large extent, implement the SSNIT and GhanaCard numbers merger, which has improved the Trust’s identification system, enhanced onboarding of new Members and eliminated costs of printing new cards. In the long term, the merger will greatly facilitate the ease of doing business with the Trust, improve contributions collection and claims processing.”

    We also introduced an electronic payment platform known as ssnitpay in addition to the existing payment channels to facilitate contribution payment. 

    Now, employers can validate their Contribution Reports, generate Payment Advice and make payments in the comfort of their offices via Mobile Money (using the USSD code 7119#); direct debit (through www.portal.ssnit.org.gh) and at any of our 20 partner banks. 

    You don’t have to visit a SSNIT Branch or wait till the 14th of the ensuing month before paying contributions. I encourage you to use the electronic payment platform and enjoy the convenience. Remember, contribution payments made through Mobile Money are E-Levy exempt.,” she added.

  • Niamey filled with fear and fury as ECOWAS threatens to use force

    Niamey filled with fear and fury as ECOWAS threatens to use force

    In Niamey, the capital of Niger, Zara Kada offers servings of rice, fish, and vegetables to her patrons who are seated on wooden benches. The widowed mother of seven depends on this company for her survival, but it is in jeopardy due to the rise in food costs caused by the economic sanctions that were put in place when the military took over.

    “The price of cooking oil has gone up in addition to that of rice. In just one week, there has been an increase of 2,500F CFA ($4: £3), she explains as she stands beside her modest food stand. This is an issue for us because there will be no profits, only loses if I cook the rice and I can’t sell it.

    Mohamed Bazoum, the nation’s democratically elected president, was ousted by the Niger army two weeks ago, drawing strong international criticism.

    The sixth military takeover in the region in just three years is being resisted by the Economic Community of West African States (ECOWAS).

    Abdel Fatau Musah, the head of Ecowas security, tells the BBC, “We are drawing the line in the sand.”

    He states that there is a virus and wonders whose country would be the next if we do not resolutely halt what has occurred there.

    Therefore, Ecowas reacted swiftly by stopping all financial transactions and electricity supply. In a particularly severe step for the landlocked Niger, ECOWAS also closed its land borders, preventing vital imports.

    Following a second emergency conference on the Niger situation, regional leaders have now ordered the creation of a military force on standby, ready to invade the nation should the military maintain its hold on power.

    Real rage at the responses of the regional governments and the prospect of military intervention can be seen on the streets of Niamey.

    The Niger soldiers are prepared to defend their nation from any type of invasion. They may rely on having the backing of the general public as well as its allies. We’re prepared,” declares Bana Ibrahim.

    The 46-year-old is one of the unit’s leaders. The self-defense unit was formed in response to the Ecowas statement.

    We are here to defend our country because the country is being attacked by ECOWAS mercenaries, says Moudi Moussa, another member of the force. They are what I refer to as mercenaries working for [French President Emmanuel] Macron. Therefore, we are here to defend Niger and its people.

    Since the coup, businesses like Ms. Kada’s have suffered, while Ibrahim Souleymane’s is doing better.

    He selects white, blue, and red pieces of cloth from his crowded tailor shop to represent the Russian tricolour.

    “I began making flags when the [General] Tchiani coup was about to happen. For Russia in particular. Because they use it to assist our fighters who have seized control, a lot of people come to buy it, he claims.

    Even though the flags of Russia and France, the previous colonial power in Niger, share the same colours, some people’s opinions of the two European nations couldn’t be more dissimilar.

    “Because we are at war with France, people buy it [the Russian flag]. The military wants to put an end to France’s long history of causing us issues, says Mr. Souleymane.

    The coup has sparked widespread anti-French sentiment throughout the nation. Paris is accused of unfairly profiting from Niger’s natural wealth while the majority of the population lives in poverty and continuing to exercise undue influence there even after independence.

    Moscow has developed tight ties with the nearby countries of Mali and Burkina Faso, two other former French possessions that have recently experienced military coups. Through its propaganda channels, Russia is portrayed as a superior ally for African nations.

    As a result of its diminished reputation among the populace in several francophone nations, France is now supporting ECOWAS’ unpopular action in Niger.

    The Parisian administration issued a statement in which it “affirms its full support for all the conclusions” of the meeting this week.

    As Mr. Bazoum was a close ally of both the US and France and permitted them to have military bases in the country to help fight Islamist insurgents who are targeting the entire Sahel region of West Africa, regional heads of state are being accused on social media networks of serving the interests of Western powers.

    Ecowas has been charged with being influenced by France by protesters.

    But what are the chances that ECOWAS will follow through on its threat to employ force?

    According to West Africa analyst Marie-Roger Biloa, “They still say it’s on the table, but I think it’s up for negotiation.”

    There are many people who oppose the military option, which will prove to be quite delicate. Even past Nigerian leaders and prime ministers are pleading with you not to assault their nation militarily. The populace will suffer greatly as a result.

    Ms. Biloa thinks that in order to prevent additional coups on the continent, particularly in cases where military elites might take advantage of the inadequacies of civilian authority to gain power, regional leaders will need to find a solution.

    She claims that African governments are struggling to meet the requirements of the populace.

    “You have a vast population that is extremely young, unemployed, and uncertain of the future. You can always find supporters for you when you oust the incumbent in this political environment.

    Ms Kada is concerned that an ECOWAS invasion could unleash a dangerous Pandora’s Box on her nation from her food stall back in Niamey.

    Conflicts like this one are difficult to predict because we only know how they begin.

  • Policy solvency at risk as Bank of Ghana faces GHC55bn equity deficit

    Policy solvency at risk as Bank of Ghana faces GHC55bn equity deficit

    Policy solvency constitutes a vital element in the management of central banks, embodying their capacity to uphold and reestablish financial stability while effectively carrying out their policy objectives.

    The recent financial outcomes of the Bank of Ghana have revealed notable instances of mismanagement, notably a substantial operating deficit of GHC60.81 billion in the year 2022. Within this article, we will delve into the concept of policy solvency, make parallels with the practices of other central banks to underscore exemplary approaches, and pinpoint avenues for enhancement within the Bank of Ghana.

    Understanding policy solvency

    Policy solvency is a fundamental concept that lies at the core of a central bank’s operations and responsibilities. It refers to the ability of a central bank to effectively implement its monetary policies while maintaining financial stability and credibility. A solvent central bank possesses the capacity to manage its balance sheet efficiently, meet its financial obligations, and instill confidence in the financial markets and the broader economy.

    Central banks are key institutions entrusted with the task of formulating and implementing monetary policies that influence the money supply, interest rates, and overall economic activity. They serve as the backbone of a country’s financial system, playing a pivotal role in regulating banks and financial institutions, overseeing payment systems, and safeguarding the stability of the nation’s currency.

    Policy solvency is vital as it ensures that a central bank can fulfill its mandate of promoting price stability, fostering economic growth, and maintaining financial integrity. By effectively managing its balance sheet, a solvent central bank can navigate economic fluctuations, manage risk exposure, and address potential financial crises.

    A central bank’s balance sheet comprises assets and liabilities, with assets including foreign reserves, government securities, loans and gold reserves. On the liabilities side, it includes currency in circulation, deposits from banks, and government deposits. Policy solvency depends on the bank’s ability to maintain a robust and sustainable balance sheet, ensuring that assets are of high quality and can withstand adverse economic conditions.

    A solvent central bank is better equipped to respond to various economic challenges, such as inflationary pressures, exchange rate fluctuations, and financial market volatility. It can adjust its monetary policy tools – such as open market operations, reserve requirements, and interest rates – to achieve its policy objectives effectively.

    The credibility of a central bank is closely linked to its policy solvency. A financially sound institution that manages its affairs prudently instills confidence in market participants, investors, and the public. Credibility fosters predictability, which is essential for economic agents to make informed decisions and plan for the future. A credible central bank enjoys greater policy effectiveness, as its announcements and actions are trusted and taken seriously.

    During times of economic crisis or uncertainty, policy solvency becomes even more crucial. A solvent central bank can act as a stabilising force, providing liquidity and support to the financial system, ensuring the smooth functioning of payment systems, and mitigating systemic risks.

    Impact analysis

    The Bank of Ghana, as indicated in its financial statement, possesses total assets amounting to GHC118.68billion for the bank and GHC125.97billion for the group. These assets include cash and balances with correspondent banks, gold reserves, balances with IMF, securities, loans and advances, and other investments, among others. The bank’s financial standing reflects its capacity to manage its balance sheet efficiently and meet financial obligations, essential traits for maintaining policy solvency.

    In contrast, the bank’s total liabilities amount to GHC173.80billion for the bank and GH¢179.90billion for the group. These liabilities consist of deposits, derivative financial liability, bridge facilities, liabilities under the money market, allocations of special drawing rights, liabilities to IMF, lease liabilities, and other financial obligations. Maintaining a balanced and sustainable liability structure is critical for ensuring policy solvency and safeguarding financial stability.

    The Bank of Ghana’s shareholders’ funds indicate an equity attributable to equity holders of the bank at negative GHC55.12billion, whereas non-controlling interests contribute GHC591.43million. This demonstrates that the bank’s equity position requires careful management and improvement to enhance policy solvency and restore financial stability.

    Perception-wise, the Bank of Ghana’s financial position, as evident from its Consolidated and Separate Statement of Financial Position, may influence how other central banks view its stability and credibility. A central bank’s financial health is a crucial factor when establishing relationships, engaging in currency swaps, or collaborating on monetary policy initiatives. A weakened financial position might lead to concerns about counter party risk, potentially affecting the willingness of other central banks to engage in transactions or partnerships.

    Practically, the Bank of Ghana’s financial position can impact the terms and conditions of transactions with other central banks. The ability to negotiate favourable terms, such as interest rates in currency swaps or the terms of collaborative agreements, may be affected by the Bank of Ghana’s perceived financial stability. Central banks often engage in transactions to manage liquidity, stabilise currency values, or address economic challenges. A central bank with a strong financial position is better positioned to influence and manage such transactions effectively.

    Furthermore, a weaker financial position could limit the Bank of Ghana’s capacity to provide financial assistance or participate in initiatives led by other central banks, potentially impacting its influence within regional or international financial networks. The financial strength of a central bank contributes to its overall influence and ability to contribute meaningfully to discussions and decisions on global monetary matters.

    Conclusion

    Policy solvency remains a pivotal aspect of effective central bank management. By analysing the financial positions of central banks like the Bank of Ghana, alongside other central banks in similar economies, policy-makers can gain valuable insights into best practices and identify areas of improvement. 

    As central banks continue to navigate economic fluctuations and global challenges, maintaining strong policy solvency is essential to fulfill their mandate of promoting price stability, fostering economic growth, and safeguarding financial integrity for the benefit of their respective nations and economies.

  • John Dumelo plans to drive from Ghana to South Africa

    John Dumelo plans to drive from Ghana to South Africa


    The actor turned politician, John Dumelo, has announced his plan to embark on a journey driving from Ghana to South Africa.

    In a Twitter post, he said “I want to drive from Ghana to South Africa.”

    His reactions come after Wanderlust Ghana, a group of 13 adventurous Ghanaians embarked on a 10,000KM road trip from Accra to London.

    They started the expedition of driving from one continent to the other from Accra on Sunday, July 23, 2023, through Aburi, Nsawam, Kumasi, and Sunyani to Dormaa and then entered Cote d’Ivoire via Golokrom.

    They started the journey as a group of 12 people and are using five different Ghanaian registered vehicles, a Mercedez Benz G-Wagon, two Toyota Landcruisers (V8), Lexus RX 350, and a Ford F150, Raptor.

    The number of persons gradually dropped on their drive due to other reasons, however, the historic journey continued with the others on board.

    The group averagely drove about 800km to 900km in a day.

    The adventurous group made it to Monaco by Friday, August 4, 2023, having moved through five African countries, Cote d’Ivoire, Mali, Senegal, Mauritania, and Morocco, and entered Europe by ferry on the Mediterranean to Algeciras in Spain, before driving to Barcelona via Valencia.

  • EU, IMF directs COCOBOD to halt road projects

    EU, IMF directs COCOBOD to halt road projects

    Ghana Cocoa Board (COCOBOD) has announced its intention to cease the construction of cocoa roads after the ongoing projects are finished.

    The Cocoa Road Programme was launched by COCOBOD with the aim of resolving transportation difficulties related to delivering agricultural inputs to cocoa farmers and streamlining the evacuation of cocoa beans.

    During the 50th Anniversary Celebration symposium of the Cocoa Clinic, CEO Joseph Boahen Aidoo conveyed that this change in policy originates from discussions held with the European Union and the International Monetary Fund (IMF).

    Both entities, he said, questioned COCOBOD’s involvement in road construction, urging a focus on core functions.

    “The EU sent a team last year to do due diligence on sustainable production and when they came, they wanted to know why COCOBOD was involved in cocoa roads construction because it is not a core business of COCOBOD, and they insisted that we take that venture out of our equation; and, of course, the IMF is also saying the same thing”.

    “They say that we can continue with what we are currently constructing and not start new ones”, Mr Boahen said.

    He also outlined plans for establishing healthcare centres in cocoa-growing communities to enhance medical accessibility for farmers, citing instances of arduous journeys for healthcare as a driving factor.

    “I have had the experience where a woman, who was in labour and couldn’t deliver, had to be carried in a hammock and travelled over 28 kilometres and couldn’t survive.

    “And, when we look at the countryside to see how our cocoa farmers struggle to access health delivery, you will be touched to do something; and that is why, as an institution, it is important to bring health services and facilities as closer to these farmers as possible”.

  • Judge Chuktan cautions Trump from making ‘inflammatory’ statements prior to trial

    Judge Chuktan cautions Trump from making ‘inflammatory’ statements prior to trial

    A federal court has cautioned former US President Donald Trump from making “inflammatory” comments that could taint the jury pool before his trial for attempting to rig the 2020 election results.

    Judge Tanya Chuktan, however, said that Mr. Trump can publicly release some of the non-sensitive information that prosecutors disclose to his legal team.

    The special counsel had voiced concern that Mr. Trump may leak classified information and threaten witnesses; the decision on Friday was a setback for him.

    The judge stated that the historic case was proceeding normally during a 90-minute hearing in Washington, DC.

    He is facing criminal charges. He will be subject to restrictions, just like every other defendant, she said.

    The fact that the defendant is running for office won’t give him any more or less freedom than any other defendant in a criminal case, according to the statement.

    The legal team for the former president and federal prosecutors are engaged in a number of court disputes, some of which Mr. Trump is permitted to discuss in public.

  • How a threat from passenger rendered this driver blind

    How a threat from passenger rendered this driver blind

    A driver of a passenger bus (locally known as trotro) in the Ashanti Region has recounted how he lost his sight completely weeks after engaging in a verbal argument with a passenger who issued a threat, telling him to wait and witness the outcome.

    Isaac Moro, also known as Atimbila, discussed his unfortunate situation on the “Sompa Asem Mp3 Nipa” program of Kumasi-based Sompa FM, during a broadcast earlier this week.

    Atimbila, originally from Bolgatanga but currently living in New Suame, Kumasi, expressed that he was pleading with the individual he had a short argument with to forgive him and grant him the opportunity to recover from his blindness.

    Narrating the sequence of events to the show host, he said: “I worked with my conductor early July picking passengers at Shell Station but because we are not running a regular station route we were headed for the Otumfuo roundabout, apparently, this elderly man was the only passenger yet to alight as he was heading for Kejetia.”

    Atimbila said he saw the altercation between the man and his conductor but “I kept mute as he spoke with the mate.”

    He stressed that his intervention came as the mate kept begging the man at a point he agreed to alight. “I intervened … and then he said we will see, so I appealed to him over his choice of words, he left the mate and told me to wait that I will see, when he got down.

    “I said, what will I see, is he going to kill me or that I should wait and see what? He said he had given me until July ending, I will see what will happen and that as he leaves to Accra, I will not see him again.

    “I called his bluff because we are always fighting passengers,” he added.

    In recounting how the problem with his eye started, he said he had almost forgotten the episode and thought he was suffering an eye condition known as ‘apollo.”

    “So, on 27th of July, I had one eye becoming watery as if I had apollo. The following morning it had worsened but I still went to work with my conductor because I could see clearly with the other eye, by 6pm I found that the other eye was problematic.

    “I spoke to the station chairman and he also said it was a case of apollo. The following morning, I woke up and tried opening my eyes, I couldn’t see at all but I knew it was morning,” he submitted.

    He said his old woman had been struggling with him since he went blind, which situation he believes is entirely because of the episode.

    He extended an appeal to the public to try to find the aggrieved man to show mercy and allow me to be healed.

  • Will Smith’s wife grows new hair after suffering from alopecia

    Will Smith’s wife grows new hair after suffering from alopecia

    Jada Pinkett Smith appears to be actively working to change public perception and discourse about her condition in light of the recent controversy surrounding her hair loss at the 2022 Academy Awards.

    The 51-year-old mother is on a journey to defeat her raging battle with alopecia, a medical condition in which a person experiences hair loss.

    Pinkett Smith took to her Instagram account to post two pictures of herself; the first shows herself bald and the second shows some dark hair sprouting on her head.

    “This here hair is act’n like it’s try’n a make a comeback,” the actress wrote in the caption. “Still have some trouble spots but — we’ll see.”

    Her family hasn’t taken jokes made about her medical condition lightly. Last year at the Academy Awards, Will Smith slapped comedian Chris Rock after he passed a joke about Pinkett Smith’s hair loss. The incident attracted backlash but raised awareness of Pinkett Smith’s medical condition. Though Will Smith has apologized for his actions, he has been banned from participating in the Oscars for the next 10 years.

    Pinkett Smith has been candid about her struggle with alopecia. In a Facebook Watch talk show episode, she shared her distressing experience of finding clumps of hair falling out and how it prompted her to cut her hair.

    Despite medical tests, the root cause of her alopecia remains elusive, though stress is a suspected factor.

  • Hawaii fires: Death toll from Maui wildfires reaches 80

    Hawaii fires: Death toll from Maui wildfires reaches 80

    Officials report that 80 people have now been confirmed dead as a result of wildfires on the Hawaiian island of Maui.

    In what is now the worst natural disaster to hit a US state, there are worries that the numbers will continue to grow.

    Firefighters have been battling fires in a number of locations, including the historic town of Lahaina, which has been completely destroyed.

    A “comprehensive review” of how the authorities handled the wildfires has been announced by Hawaii‘s attorney general.

    It occurs as concerns over whether officials notified people quickly enough grow.

    For the first time since flames quickly rushed through early this week, razing most of the coastal town’s rich heritage and two million visitors annually, state officials reopened Lahaina to those with proof of residency on Friday.

    Cars were backed up bumper to bumper on the Honoapiilani Highway, one of the only accessible ways to Lahaina, with people standing next to trucks crammed full of supplies including water, petrol, diapers, and toilet paper.

    But shortly after it was opened, all traffic on the route save for emergency vehicles was stopped.

    Police were called in to deal with a “situation,” authorities informed the BBC, although they declined to provide further details.

    Even though police did not confirm it, evacuated Lahaina homeowners later claimed they thought their homes had been looted.

    Families remained in a mile-long queue for hours after the closure.

    Residents would encounter “destruction like they’ve never seen in their lives,” Governor Josh Green had already warned.

    And for many of the Lahaina refugees, the damage still waiting is too much to bear.

    The Tacderan family’s 23 stranded members gathered with family in Paukukalo, a coastal area east of Lahaina, to assess the damage.

    One of them, Bryan Aguiran, 26, stayed in Lahaina for the duration of the fire’s deadliest parts, dousing the flames with big buckets of water and miraculously saved his family’s home.

    But he is unwilling to return.

    He added that he hasn’t been able to sleep and that every time he closed his eyes, Armageddon appeared.

    “Lahaina will never be the same,” he declared.

    Like many other Maui locals, he expressed concern about how much higher the death toll will go.

    These worries were heightened on Friday night when residents of Kaanapali, which is located north of Lahaina, were told to leave because a fire had broken out near a fueling station that had been built up. In about two hours, Maui, it was under control. Maui official added

    Lahaina and Kaanapali in West Maui are still without water and electricity. In the area, search teams are still seeking for wildfire casualties.

    In the water is included. According to the Coast Guard, 17 individuals have so far been recovered alive from the water close to the harbour of the town. Everybody was said to be in stable condition.

    However, Gabe Lucy, a Maui-based tour guide, told the BBC that he was hearing horrifying stories.

    “People were jumping in the water, and I think for a lot of them the fire wrapped around so quickly that the only way to escape was go down to the water’s edge,” said Mr. Lucy, whose boats were called in to help.

    He continued by saying that they were “picking up four-year-olds and putting them on surfboards and pulling them out” and that he had heard tales of “bodies on the rocks”.

    The damage brought on by wildfires on the island of Maui will take many years to heal, according to the authorities. In Lahaina alone, more than a thousand buildings have been destroyed.

    For Maui’s residents, many of whom depend on the service employment provided by the tourism industry, the enormous destruction is a further source of stress.

    On Friday, Governor Josh Green forewarned Hawaiians that what they discovered in Lahaina would be challenging.

    “Lahaina is a severely damaged area. The governor, who paid a visit to the town on Thursday, warned that they will witness destruction unlike anything they had ever seen. “Be very careful and safe.”

    On Maui, there are currently six shelters for those who have been displaced, and officials have stated that they are creating a plan to accommodate them in hotels and vacation rentals.

    Donations have been pouring in lately.

    Many affluent people, including Jeff Bezos, the founder of Amazon, reside on the island. To aid the fire victims, he and his partner Lauren Sanchez have contributed $100 million (£79 million).

    Tuesday night saw the start of wildfires on the Big Island and Maui islands of Hawaii. Although the reason is still unknown, after the fire started, hurricane gusts and dry weather contributed to its spread.

  • I was bullied in school – Prof Kwaku Dumor

    I was bullied in school – Prof Kwaku Dumor

    Prof. Ernest Kwaku Dumor, the Founding Executive Secretary of the National Identification Authority (NIA), has opened up about his personal experience as a victim of bullying during his time in school.

    During an interview on JoyNews’ Personality Profile program on Friday, he recounted that while he was a student at Bishop Herman College, he faced significant mistreatment and maltreatment.

    “When I got to Bishop Herman College, there were few of my seniors who were taught by my father in elementary school. And because of my father’s attitude towards discipline, these young boys were disciplined so I became a victim when I came to Bishop Herman,” he said.

    Recalling the sequence of events that led to the bullying, he shared that when he first arrived at the boarding house, he had a pillow with an embroidery that read “Meva do,” signifying “I have arrived.”

    He said one of his seniors who was disciplined by his father during elementary upon seeing the embroidery was furious and questioned him “You have arrived for what?”

    According to him, since then, the senior subjected him to severe maltreatment.

    Prof Kwaku Dumor said there was no way of escape from the bullying, adding that the only escape plan he hatched was to pack his belongings and leave the school.

    However, one fateful day when he was being bullied by his senior, a friend came to his rescue.

    “I had a friend – a wonderful friend who was much bigger and tougher and when I was being maltreated, he came from nowhere to rescue me and this senior was so embarrassed that someone who was his junior had to discipline him and he saved my life,” he narrated.

    As a result, Prof Kwaku Dumor said he is strongly opposed to bullying in schools.

    He explained that physical maltreatment does not bring about change but rather makes people defiant.

    He added that in cases “where the bullying is out of the way, it can drive people crazy.”

    According to him, although during his time at Bishop Herman College, there was some sort of bullying, “many of our seniors were quite accommodating and encouraging.”

  • Nigerian physicians terminate strike

    Nigerian physicians terminate strike

    The National Association of Resident Doctors (Nard), which represents resident physicians in Nigeria, has called off its strike; work will resume on Saturday.

    Dr. Emeka Orji, the association’s president, told the BBC that when the government approved the 2023 Medical Residency Training Fund and officials evaluated doctors’ proposals for solutions to alleviate the impact of the brain drain in government hospitals, the doctors will resume their work.

    These are their two main needs, according to Orji, and they will evaluate any advancements made in two weeks.

    On July 26, resident doctors—who constitute up more than 60% of the medical staff at Nigeria’s public hospitals—took a sick day.


  • Niger defence summit in West Africa postponed

    Niger defence summit in West Africa postponed

    The West African chiefs of defence staff conference that was scheduled to discuss the coup in Niger has been abruptly postponed.

    The regional organisation, Ecowas, had scheduled the talks, which were supposed to take place on Saturday in Accra, Ghana.

    The delay was not explained. The activation of a military force in standby to restore civilian government in Niger was ordered by West African leaders on Thursday.

    Friday in Niamey, large groups of coup sympathisers rallied close to a French military post to protest Ecowas and France.

    The family of the ousted president of Niger has drawn the deep concern of US Secretary of State Antony Blinken, who claims they are being imprisoned in deplorable circumstances.

  • Voltarians call me their favorite after Rawlings – Alan Kyerematen

    Voltarians call me their favorite after Rawlings – Alan Kyerematen

    Aspiring New Patriotic Party (NPP) Flagbearer Alan Kyerematen has given party delegates the unwavering assurance that, should he be chosen to lead the party in the 2024 general elections, a resounding victory can be anticipated over the opposition National Democratic Congress (NDC).

    According to the former Minister of Trade and Industry, the party requires a candidate capable of securing votes even from the opposition’s stronghold areas, notably the Volta region.

    Alan Cash, as he’s widely known, believes he is the right candidate who can be in a nip-and-tuck race against the NDC to ensure the NPP actualises its mantra, ‘break the eight’.

    He says his recent tour in the Volta region’s capital, Ho, saw a mammoth welcome and jamboree, affirming their love for him.

    Addressing delegates in Besoro, Ashanti region, Mr. Kyerematen emphasized that the residents of the region have pledged their support to vote the NPP into power if he becomes the chosen presidential candidate.

    “The Volta region is the stronghold of the NDC. We need to elect someone who can beat the opposition there. When I went to the Volta region, they told me after the demise of J.J. Rawlings, I am their new favorite,” he said.

    The former minister also assured delegates of amassing votes in the swing regions including Western, Central and Greater Accra regions.

    The Ashanti region has been the voting powerhouse of the ruling New Patriotic Party since the inception of the Fourth Republic.

    In the last elections, the region voted over 1.5 million to elect the then Presidential candidate, Nana Akufo-Addo into his second term in office.

    Mr. Kyerematen contends he can amass more votes for the party from the region if elected as flagbearer.

    “I can win 2 million votes for the party in the Ashanti region. This can help the party make a landslide win against the NDC in the 2024 elections,” he assured delegates

    Meanwhile, Deputy Railway Development Minister, Kwaku Asante-Boateng, has expressed his dissatisfaction at how some members of the Bawumia camp blatantly snubbed him during a campaign visit to constituencies in the Asante Akyem area.

    The Member of Parliament for the Asante Akyem South Constituency says he is hurt by the actions of the Bawumia camp who saw him as an outlier.

    He has thus announced his loyalty to Alan Kyerematen, describing him as a brother.

    “When Vice President Bawumia came to Asakari, we decided to go and welcome him and some members of his team who were aboard a bus, none of them greeted me when I extended a handshake. You can’t disrespect me and expect me to join your campaign. I am hurt by their actions. Alan Kyerematen is my brother, I can’t denounce him. If Alan wins or not, I will support him. If I don’t support him, his campaign would be worthless. They’re not accepting me as one of theirs, why should I waste my time with them?” he said.

    There was a rousing welcome by delegates and pro-Alan supporters as the former Trades Minister began his tour in the region, paying a courtesy call on the Paramount Chief of Ejisu where he hails from.

    Nana Afrane Okese IV blessed the flagbearer hopeful, throwing a challenge to his detractors over Mr. Kyerematen’s victory in the upcoming party election.

  • Seven people killed as mosque falls in Nigeria

    Seven people killed as mosque falls in Nigeria

    At least seven people were killed when a mosque in the Nigerian city of Zaria collapsed during Friday prayers.

    There have been numerous injuries. A local authority estimated that there were hundreds of devotees present.

    Rescue teams have started digging through the debris.

    In one of the walls, a break was noticed on Thursday, the Emir of Zaria told the local media.

  • Contractor abandons Kenyasi-Hwidiem road project,despite full payment

    Contractor abandons Kenyasi-Hwidiem road project,despite full payment

    The youth residing in Kenyase, a community situated within the Ahafo region, have expressed their intention to initiate a demonstration as a response to the actions of a contractor responsible for a road project within their locality.

    This contractor, despite having received complete payments as stipulated in the contract agreement, has chosen to abandon the project site, leaving the work incomplete and the community in a state of dissatisfaction and frustration, prompting the youth to contemplate taking to the streets to voice their grievances through a protest.

    The Contractor, Kofi Job Construction Limited was fully paid 95.4 million cedis for the upgrade of Hwidiem-Kenyase road by Newmont Ghana Gold Ahafo Mine.

    But, a visit by some members of the Journalists from Business Advocacy to the community, saw the absence of the contractor on site after reconstructing nearly 60% of the road with asphalt.

    Buildings along the Kenyase-Hwidiem road are losing their original paintings as dust and mud from the stretch discolour their identities.

    Economic activities along the untarred portions of the road are grinding to a halt with some local shops closing down.

    A hairdresser at Hwidiem, Mercy Ebedawo has had to deal with the dusty road for three months now.

    “The dusty really worries us. It’s better today. When the tricycle pass here they pollute the air with lots of dust. We always have catarrh,” she said.

    It was a great relief for traders and road users when the reconstruction of the 8.2 km road commenced in 2022 with full sponsorship from Newmont Ghana Gold Limited.

    The project, awarded to Kofi Job Construction, was originally estimated at GH₵70.3 million but halted in the early parts of the year.

    JoyNews sources indicate the contractor demanded additional payments following inflationary pressures and the worsening road conditions.

    This saw a re-evaluation of the contract cost to GH₵95.4 million to be absorbed by Newmont.

    Sources at the mine indicate a full payment of cost was subsequently made to the contractor through the Ministry of Roads and Highways.

    This is corroborated by the Akwamuhene of Kenyase No. 2, Nana Owusu Boadu Ayeboafo.

    Acting President, Kenyasi No. 2 Traditional Council – Nana Owusu Boadu Ayeboafo

    “We went for a meeting where Newmont informed us they’ve paid the contractor the new costs. But after payment we haven’t seen the contractor on sight again,” he said.

    The project is presently only halfway completed with no sight of the contractor’s equipment on site for continuation.

    “The stones on the road are cutting through our car tyres. It’s bringing a lot of problems to us. We have to service the car every two weeks,” Eric Ofori, a driver said.

    Mercy alludes that: “Many shops along the stretch have had to close down. Because of the dust, the shops here are opened only during market days”.

    The road is an important stretch linking Kenyase and adjoining communities to the main Kumasi-Goaso road.

    Nana Boadu Ayeboafo slammed the Ghana Highways Authority for allowing full payment to the contractor without completing the work.

    “We have never heard this before, that Ghana Highways Authority knows that the contractor has not completed the project, but you help raise certificates for Newmont to pay. We are advising them that they should not allow this to happen again because we have never heard of this anywhere before,” he lamented.

    Youth in the communities are incensed by the abrupt abandonment of the road project, threatening to stage protests against the local government in demand for the completion of works.

    Ahafo-Kenyase No. 2 Youth Development Leader, Abdul Karim Yeboah says the residents are unhappy with the development.

    “Newmont has said in front of the regional minister, and we’ve seen documents confirming that the contractor has been paid. We will demonstrate to whoever is responsible to ensure that this road is fixed” he said.

  • Rent Control warns landlords against increase in tenant’s rent without permission

    Rent Control warns landlords against increase in tenant’s rent without permission

    The Rent Control Department has restated that landlords committing the act of raising rent without obtaining approval from the department are engaging in an offense.

    Public Relations Officer of the Department, Emmanuel Kporsu, informed Nyankonton Mu Nsem on Rainbow Radio 87.5Fm that they have received numerous reports from tenants who have informed them about their landlords’ intentions to evict them due to their inability to afford the increased rent.

    Kporsu emphasized that according to the law, landlords are obligated to communicate with the Department, providing a rationale for their intention to increase the rent.

    He said that if the landlord renovates the facility for any reason and intends to raise the rent as a result, the department must first approve it.

    He explained that the law also requires the department to approve landlords every two years to raise rent in line with the country’s economic situation.

    ”There are a number of landlords who raise rent without seeking permission from the department. Before we approve the increase, we must inspect the building to ensure that it is fair. A landlord cannot raise rent without our permission.”

    Emmanuel Kporsu emphasised that it would be unfair for a landlord to raise the rent when no significant renovations had been completed.

    ”You cannot stay in your little corner and raise the rent because you own the building. There are laws, and the rent law is not one of them. Several tenants have come to us to report this problem. Rent cannot be raised every six months or once a year. It must be approved first, and it can only be done every two years or when something significant has changed about the facility.”

  • China has wealth of genomic data at its disposal

    China has wealth of genomic data at its disposal

    Better cancer treatments, increased longevity, ground-breaking drugs and vaccinations are just a few of the possible rewards up for grabs in the rapidly-emerging international competition to develop the biosciences.

    And considering that its enormous population of 1.4 billion people can supply a goldmine of data, China has been investing enormous sums of money in its quest to become the dominant power.

    The government is now conducting a “national genetic survey” to gather data about and exercise more authority over these resources, say experts. Vast amounts of this data already exist in biobanks and research centres around the nation.

    In contrast to the numerous Western countries that have vowed to give up information for global exchange, authorities have also tightened limitations on international access to this data in recent years.

    The country’s genetic resources are now governed by new laws that went into effect in July. These laws include the national survey and limitations on access from abroad.

    Some scientists have cautioned that this genetic hoarding, however, may make international scientific collaboration more challenging and may even work against China.

    “The government realises there is tremendous economic potential in this region, so they want to have a very tight grip on it, but… Joy Y. Zhang, the director of the Centre for Global Science and Epistemic Justice, stated that for China to reach its full potential, international cooperation is necessary. Throughout the creation of the new regulations, Zhang attended consultation sessions.

    She said, “Right now, a gold mine is right outside your door, but you don’t know how to mine it.

    There is a lot at stake: the genetic building blocks that make up our bodies could lead to discoveries that have an impact on everything from national defence and biosafety to health care and the economy.

    Chinese scientists and authorities have emphasised recently how genetic information could be helpful in studying and treating diseases, developing pharmaceuticals and medical devices, and understanding how genes affect longevity or how birth defects are formed. This is especially important given China’s impending demographic crisis as its workforce ages and its birth rate declines.

    Due to the large number of people and its “healthy and long-lived populations,” the nation’s DNA might also be a “strategic resource and a treasure trove,” according to officials. However, scientists caution that each country’s genetic population is valuable in its own manner.

    With publicly traded biopharma businesses worth hundreds of billions of dollars, new research centres have sprung up all around China, reflecting this increased concentration. According to Chinese scholars, the government claimed that their database, which had about 44 million entries, was the largest in the world in 2015.

    In its most recent five-year strategy plan, the government named biotechnology as one of the “strategic emerging industries” the nation will concentrate on developing. The ruling Communist Party has thrown its support behind the boom.

    In 2021, Anna Puglisi, head of biotechnology programmes at Georgetown’s Centre for Security and Emerging Technology, said before a US Senate hearing on national security that “China has amassed the largest genomic holdings of anywhere in the world.”

    Understanding what genes do is “one of the most important questions in the next generation of both medicine and also biological research,” Puglisi continued. They have an advantage in solving some of those challenges because they have access to that kind of data, both from within their own country and from other parts of the globe.

    There are indications that the United States, who has long been China’s opponent in terms of technology, regional sway, military might, and economic might, is beginning to feel the squeeze. Think tanks and research organisations have issued a number of publications warning that the US may lose its competitive advantage.

    Others, though, say that closing that gap might take years. Additionally, Zhang noted that China’s current databases are dispersed and disorganised, which presents a problem that the government is currently striving to solve.

    According to Zhang, China’s biobanking, or the gathering of biological samples, is still in its “embryonic stage” and is “very fragmented.”

    To begin with, she added, it’s challenging to transfer data even within the country, such as when attempting to access data banks in several provinces with various legal frameworks. Additionally, a lot of smaller institutions lack the infrastructure needed to collect, catalogue, and preserve genetic material in a form that makes it “useful in scientific research.”

    “Running a biobank costs a lot of money, and it’s a waste of resources not to be able to use the data or material that has been collected,” she added.

    With the recently passed laws, which build upon a prior set of regulations announced in 2019, China hopes to better assess this data. One of the most significant breakthroughs is the description of a “national survey of human genetic resources,” which, according to Zhang, intends to standardise and centralise the data already collected from institutions and research centres.

    According to the new regulations, the survey will be conducted every five years, with provincial officials gathering data in respective districts and presenting it to the national scientific ministry. The regulations give special consideration to “important genetic families” and inhabitants of “specific regions,” such as those with inherited illnesses or “special physical characteristics or adaptive traits.”

    The published regulations, however, are ambiguous and provide few details about the survey’s methodology or scope, including the institutions or data that would be used.

    Katherine Wang, a partner at the international law firm Ropes & Grey who specialises in bio sciences, claimed the science ministry hadn’t yet identified the “contents or areas of focus of this exercise.”

    But she also noted that the poll would probably “involve analysis of data already captured by the (ministry),” such as details on significant genetic pedigrees provided by “organisations and individuals” – as well as “newly collected data.”

    According to Wang, the ministry would probably compile a “catalogue of significant genetic pedigrees” and examine the security of outgoing data transfers that are pertinent.

    The adoption of the regulations is accompanied by concerns about how to safeguard people’s privacy in the biodata era, particularly in a nation with extensive digital surveillance.

    According to the rules, genetic resource collection in China must abide by an ethical evaluation, have “written informed consent,” and protect the “privacy rights” of donors.

    However, a number of recent events have brought attention to the danger of data breaches.

    For example, a sizable online database containing the private data of up to one billion Chinese residents was left exposed and available to the public for more than a year before an anonymous user proposed to sell the information in 2022.

    The international community has long expressed concern about China’s use of genetic information in law enforcement, particularly in the wake of revelations that authorities were gathering DNA samples and other biometric information from millions of residents in the far-western region of Xinijang, which is home to the Muslim Uyghur community and other ethnic minorities. China has long been accused of violating human rights in Xinjiang, a claim it has vehemently refuted.

    However, these worries are not new, and several experts acknowledged that the national genetic survey appears to be more focused on scientific research than other objectives.

    According to Wang, “the government has long wanted to have better awareness over significant genetic pedigrees and significant genetic resources about minority races. Therefore, in this situation, I believe the survey is attempting to give the government a tool or method by which to demonstrate that visibility.

    Finally, the human genome has been deciphered. Here’s why this finding changes everything.

    To the consternation of some scientists who fear the loss of global collaboration, China is eager to protect its people’s genes as DNA is increasingly viewed as a valuable natural resource like oil or land.

    To prevent them from exploiting it for “typical commercial purposes” like genome sequencing services, Wang said, the first 2019 laws barred foreign firms from obtaining Chinese genetic material or transmitting such material abroad.

    Clinical studies and other research collaborations are still permitted, but they are subject to much stricter regulations, requiring “foreign parties” and their Chinese partners to notify the authorities and obtain government approval. The new regulations also stipulate that security reviews may be required in certain situations.

    The adjustments coincide with a rise in national security emphasis under Chinese President Xi Jinping, with Beijing tightening legislation on a number of priority issues, from counter-espionage to biosecurity.

    The method to managing human genetic resources is so strict that it “basically grants Chinese nationals based in China exclusive access to conduct this research,” according to Zhang, the director of the global science centre.

    This strategy is justified for a number of reasons.

    Tighter regulations are required, according to officials, to stop “the illegal outflow” of Chinese genetic material. This may be a result of the infamous case involving a Harvard scientist who was accused of taking genetic samples from poor Chinese farmers without their informed consent around the turn of the century, Zhang said.

    Chinese authorities also highlight He Jiankui as an example of unethical behaviour. He was highly criticised for making the first gene-edited infants in the world in China in 2018.

    China also wants to achieve what some experts refer to as “genomic sovereignty,” or total control over the genetic resources in their nation.

    There are rules governing the use and transfer of genetic material in many other nations, but few are as stringent as China’s.

    For instance, the UK Biobank, a government-backed database, offers anonymized genetic information from UK citizens to “researchers around the world who use it to make new scientific discoveries,” according to the biobank’s website.

    Similar to this, the National Institutes of Health (NIH) of the US government maintains a database of genomic data produced by NIH-funded research, to which qualified scientists from across the world can apply. On its website, the National Institutes of Health (NIH) refers to genomic data as a “critical shared resource,” noting that “timely sharing of research results can accelerate discoveries” that are advantageous to the greater scientific community.

    Zhang noted that China seemed to have taken the complete opposite tack. China is shutting down because it only wants to focus inward and keep things home.

    This may have larger effects on scientists’ capacity to collaborate with global peers, given the decline in US-China cooperation brought on by escalating political tensions and the isolation of Chinese researchers during the Covid-19 outbreak. All of this might ultimately undermine China’s efforts to push boundaries and outperform rivals.

    Chinese life sciences are a significant global force, but they are not yet a superpower. It still depends on international collaborations in many cutting-edge fields, said Zhang.

    She continued, “Today, scientific progress looks extremely different from what it did only a few decades ago. We’re talking about huge data, we’re talking about mining the data. Furthermore, limiting access in this situation would be detrimental to China.

  • GES to guide BECE candidates on school selection on Aug 18

    GES to guide BECE candidates on school selection on Aug 18


    On August 18, 2023, the Ghana Education Service (GES) is scheduled to provide information and guidance to candidates who took the Basic Education Certificate Examination (BECE) this year. The focus will be on the criteria for selecting Senior High Schools.


    Between August 23 and September 4, 2023, the process of school selection will take place across regional, district education directorates, and schools.

    The GES in a statement signed by the Head of Public Relations Unit, Cassandra Twum Ampofo, said, “Management of Ghana Education Service (GES) wishes to inform the general public, particularly Parents, Candidates and Teachers that the sensitization and education on this year’s guidelines for school selection into Senior High Schools will commence Friday 18th August 2023.”

    “This exercise will take place in all the respective Regional, District Education Directorates and schools. Management further informs stakeholders that the selection of schools is scheduled from 23rd August to 4 September 2023”.

    The Head of the Public Relations Unit said candidates will be offered the opportunity to text a short code to confirm their school choices before actual placement.

    “There would be an opportunity for candidates to text to a short code and confirm their school choices before actual Placement will be done. Details of the shortcode will be made available in due course”.

    The BECE which started Monday, August 7, ended Friday, August 11.

  • Asamoah Gyan’s camp denounces NPP Bortianor Parliamentary  bid flyer

    Asamoah Gyan’s camp denounces NPP Bortianor Parliamentary  bid flyer

    A circulating photo of a billboard aiming to confirm the potential parliamentary candidacy of renowned Ghanaian footballer Asamoah Gyan within the New Patriotic Party for the Bortianor Ngleshie-Amanfro constituency has been swiftly refuted by Samuel Anim Addo, a recognized representative of the footballer and entrepreneur.

    In an interview, Anim Addo labeled the reports as false, confirming Asamoah Gyan’s earlier position that he is currently not pursuing any political position.

    When GhanaWeb reached out regarding the widely circulated photo on different social media platforms, Sammy Anim replied with a succinct “It’s false.”

    Despite repeated denials by Asamoah Gyan, his name continues to be linked with the Bortianor Ngleshie-Amanfro seat owing to his stardom status, benevolent works, and alleged affiliations with the governing New Patriotic Party.

    The incumbent Member of Parliament of the area, Sylvester Tetteh appeared to have given some substance to the rumors when he was quoted as saying that the camp of Vice President, Dr Mahamudu Bawumia is seeking to replace him with Asamoah Gyan due to his affiliations with NPP flagbearer hopeful, Alan Kyeremanten.

    A quote attributed to Sylvester Tetteh which went viral on various social media platforms mentions him to be hitting out at the Bawumia team for attempting to use legendary Ghanaian footballer, Asamoah Gyan to unseat him.

    ‘Gideon Boako and his likes are in my constituency, supporting Asamoah Gyan to contest me in our upcoming primaries just because I support Alan Kyerematen. But they should know that I’m a son of the land and I’m ready for their diabolic plans,” he is claimed to have said.

    This comment infuriated a leading member of the Bawumia camp, Dr Gideon Boako who fired back.

    Dr. Boakoa denied the accusations, stating that he has not met Asamoah Gyan in person and that he is hurt by the allegations.

    “So this is how the likes of Sylvester Tetteh and supporters of Alan Kyeremanten want to run their campaign. I have never spoken to or met Baby Jet in person before. I have no idea he even wants to contest for parliamentary elections, let alone go and support him. SMH,” he said in reply to Sylvester Tetteh’s accusations.

  • Chinese officials welcomed by Western leaders to Ukraine peace talks

    Chinese officials welcomed by Western leaders to Ukraine peace talks

    Chinese representatives attending a meeting in Jeddah, Saudi Arabia, last weekend gave European diplomats some little solace. The goal of the gathering was to settle the Ukrainian issue peacefully.

    Although Beijing maintained its posture of neutrality, some sources contend that Beijing’s mere attendance at a meeting to which Russia claims it was not invited sent a signal to the world that it was unwilling to publicly align with Russia against the West.

    Putin, the president of Russia, may not have gotten everything he wanted, but even a little success in the zero-sum game of diplomacy is cause for celebration.

    A senior EU source told CNN, “We never anticipated China to go totally to the Western stance, but sponsoring this conference will be a significant disappointment to Russia.

    “In our opinion, China is actively interacting with the West, speaking with the Ukrainians, and rebuffing Russia. The official said, “We truly appreciate that. This opinion is shared by other European sources.

    Even if China’s involvement in world affairs may be a setback for Russia, Western allies continue to be wary of China, in part because the two nations continue to have close economic, diplomatic, and security relations.

    Beijing hasn’t given the impression that it is cutting back on relations with Russia, despite the delegation’s attendance in Jeddah. A day after the Jeddah negotiations ended, China’s top diplomat, Wang Yi, called his Russian counterpart, Sergey Lavrov, and reiterated Beijing’s “impartiality” in the crisis.

    Throughout the conflict, the military of the two nations have continued to train together. Last week, a naval patrol was conducted off the coast of Alaska. According to Russian media, Putin will also travel to China in October after accepting Xi Jinping’s invitation in March.

    The same senior EU source recognised that Beijing has few reasons to want to end the war outside of its relationships with trading partners. “From their viewpoint, the US, its main opponent, is preoccupied, and Russia has grown even more into a subordinate partner. The only drawback is how it influences others’ perceptions of China.

    It’s no secret that China and Europe have a strained relationship. That, according to officials, is problematic for Chinese leaders who see European countries as targets in Beijing and Washington’s struggle for global supremacy.

    It’s also no secret that China’s tight ties to Russia, along with Beijing’s unwillingness to denounce Moscow’s full-scale invasion, have unnerved a number of European nations, particularly those that are geographically close to Russia, and caused them to reevaluate how Europe should interact with China.

    According to a European security source, “China’s main goal is to maintain ambiguity in the European position so they don’t go as far as the US would like.” “Retaining economic ties makes it more difficult for hawks to distance Europe from China. Jeddah may have been a response to Russia’s efforts to bring Europe closer to the US. China will feel compelled to get involved in Ukraine again.

    Policy fellow at the European Council on Foreign Relations Alicja Bachulska concurs:

    “China’s recent actions unquestionably involve PR damage management. China is waiting to act, and it will do so as long as it can. Attending this kind of meeting fits in very well with this plan, especially if Russia is not present. For everyone who still has the foolish belief that China can make a difference, it makes for fantastic headlines.

    In short, the EU’s most challenging but crucial international relationship hasn’t changed in Brussels as a result of China coming to the table.

    According to several officials who spoke with CNN, the relationship with China is currently in a state of stasis as it tries to strike a balance between what Europe needs and what Europe wants.

    Despite its dependence on China, Europe still imports far more from that country than it does. The trade imbalance increased significantly from 2020 to 2022, reaching €396 billion ($436 billion).

    This has occurred despite Europe’s reluctance to ratify official treaties and agreements. Because China has penalised members of the European Parliament for criticising China’s human rights record, the Comprehensive Agreement on Investment, which was negotiated for nearly ten years before a basic agreement was reached, is on hold.

    The official position of Europe towards China has likewise altered, and as of 2019, it officially recognises Beijing as a “systemic rival.” In an effort to counter China’s hegemony in Eurasia, Brussels has launched distinct strategic actions since 2019.

    According to a CNN interview with an EU official, Brussels has not yet “solidified” its stance on China. “A Jeddah-style declaration is nice, but it won’t change the rules of the game. Since the beginning of the war, we have wished for China to act in this manner.

    The official emphasised that even positive actions like these are eventually judged in light of other actions like Beijing’s regard for human rights, its aggressive posture towards Taiwan, and its purported involvement in corporate espionage. In that sense, Brussels’ varied complaints against Beijing can be seen through yet another lens when it comes to China’s actions or inactivity in regard to Ukraine.

    It’s this conflicting reality—China is needed by Europe for some things, but it’s also seen as a security danger and a bad actor on the international stage—that makes things so difficult.

    In fact, despite the tense nature of their relations, Ursula von der Leyen, the president of the European Commission, as well as the leaders of France, Germany, and Spain, have all recently visited China.

    In areas like climate change, setting the pace for emerging technology, and establishing a free-standing foreign policy, Brussels has set itself lofty goals. The EU chose a third option in which the US would continue to be its principal ally but closer commercial connections with China were established because it did not want to choose between the two major powers of the East and West.

    In doing so, it intended to persuade China to adopt European viewpoints on a variety of issues, including human rights, the rules-based international order, and climate change.

    European leaders in 2023 are aware of China’s significant security risks and the dangers of becoming unduly dependent on China. But they also acknowledge that they could need China’s assistance to accomplish their grandiose goals.

    Future society will be heavily dependent on items like inexpensive electric cars, solar panels, and steel for wind farms. Sam Goodman from the China Strategic Risks Institute argues that China can create these items at a low cost and already has a good start in terms of being a significant supplier for the global market.

    Additionally, Goodman points out that given the current economic situation for Europe, smaller governments may be more susceptible to the allure of Chinese funding for significant infrastructure projects.

    “China has historically been keen to buy up or heavily invest in European infrastructure projects, be they nuclear power stations, roads, or water companies,” he said. “European nations have recently become less enthusiastic about this, but it might be tempting for countries with weak economies to accept some money as a temporary fix.”

    Wide-ranging security issues have been raised by officials on numerous occasions. Senior EU security officials told CNN that China continues to be the main source of cyberattacks, with the majority of them concentrating on business espionage.

    Others say that Europe doesn’t want to end up in the same position it did with Russia in terms of relying on one provider so heavily for energy or other resources, especially in the event China becomes even more forceful in its own backyard and goes from systemic rival to full-blown international pariah, as seen with Putin’s Moscow.

    Between these fears over security, Europe’s international ambitions and China’s global ambitions, it might seem hard to pin down exactly what either side want from their future relationship.

    “I don’t believe China has given up on Europe just yet. According to Charles Parton, a former first counsellor to the EU delegation in Beijing, “it hopes it can still influence the decisions of enough European nations to prevent America from fleeing in the struggle over new technology.”

    “They have recently lost on things like Huawei and will be desperate to remain competitive on semiconductors, AI, and all the things that will matter a lot in the coming years,” the author continues.

    More challenges arise for Europe. According to officials, Brussels is steadfast in defying Washington’s demands to entirely cut off relations with China while treading the fine line of the US remaining its closest partner. They assert that it will collaborate with China on some of the most significant global challenges at the same time as aiming to achieve its global goals without becoming unduly dependent on China.

    It’s an ambitious strategy, but one that mostly leaves its own destiny up to chance. Or, at the very least, in the control of a nation that has seen its standing as a partner with Europe considerably decline over the past ten years.

  • David Oscar wanted to destroy me – DKB

    David Oscar wanted to destroy me – DKB

    Comedian Derick Kobina Bonney, well known as DKB, has expressed displeasure at how badly he was treated by his colleague, David Oscar, despite his efforts in developing Oscar’s career.

    Speaking on Joy Prime’s morning show, the comedian claimed that people he has supported in the advancement of their careers conspired against him, but David Oscar’s betrayal was the most hurtful one.

    Comedian Derick Kobina Bonney, also known as DKB, has voiced his dissatisfaction with the way he was mistreated by his fellow comedian, David Oscar. This comes despite DKB’s significant contributions to the development of Oscar’s career.

    This, according to him, is due to how effortlessly he has helped establish the comedian/musician’s career.

    “People I helped to become who they are by God’s grace connived to bring me down. The most painful one was David Oscar. I behaved like a soldier, stood behind him, fought Charterhouse so aggressively, and made Charterhouse my enemy, of which I didn’t care, only for David Oscar to later turn against me because I made him fight Charterhouse. It was painful,” he told Roselyn Felli.

    The comedian continued by saying that David Oscar intended to ruin his career.

    “He moved from one radio station to another, wanting to demonise and destroy me.”

    He stated that even though Oscar was not his biological brother, he loved him and treated him as such.

    Although he has no bad intentions towards Oscar, DKB promises to threaten him anytime he (Oscar) tries to text or call.

    The two comedians have been on bad terms since 2018 after David Oscar labelled him as a ‘fraudster’.

  • BECE candidate school selection process scheduled from August 23 to September 4

    BECE candidate school selection process scheduled from August 23 to September 4

    The Ministry of Education (MoE) has declared the initiation of the process for school selection for the 2023 Basic Education Certificate Examination (BECE) participants.

    In a statement issued on Friday, 11 August 2023, signed by its spokesperson Kwasi Kwarteng, the Ministry revealed that it has developed an informative video that elaborates on the school selection guidelines in order to provide clarity and guidelines on the school selection process. 

    “The video will be featured within schools and extensively broadcast on various television networks across the country. The video and the selection form will also be accessible on the official website of the Free Senior High School Secretariat,” the GES indicated.

    Thus the in “School Showing of Selection Guidelines Video will start on August 21 to August 25 2023” with the specific date and time communicated to candidates by their Junior High School (JHS) headteachers.

    While the “School Selection period has been scheduled from August 23 to September 4 2023. This is the period where you get the selection forms complete and submit them to your JHS head teacher,” the statement added.

    Meanwhile, this year’s BECE has ended. The examination ended on Friday, August 11, 2023, across all centres in the country.