According to the vociferous legislator, this was due to the government’s refusal to settle contractors.
He also added that the contractors have been shocked by the amount of money that the government has expended in the name of the National Cathedral.
Speaking on Citi TV, he said “Since the 14th of March 2022, 10 months after now the contractors have abandoned the project. I have a copy of all the termination letters they served all their workers. They said the government had not been paying them. I have insiders in those companies and they are shocked at the massive figures flying around. And you don’t see the project being executed.”
Meanwhile, the Executive Director of the project, Dr. Paul Opoku-Mensah, on Tuesday, August 30, 2022, confirmed the suspension of work despite the continued presence of contractors and their staff on site.
“We have the contractors and their staff on site, but the work has been suspended. We are hoping that within the next couple of weeks, as part of our fundraising and other initiatives, we can begin work again,” he told a delegation that had come to donate towards the project.
He added thus: “our ability to complete this work keenly depends on Ghanaians supporting it.”
He rallied the Christian faithful to ramp up their support for the project, stressing that it was the surest way to raise needed funds to complete the project.
“The money might be big in terms of volume but if indeed we have 21 million Christians and a million can give us GH₵100 a month for a year, we can easily complete this in time.
“I refuse to believe that we can’t get a million Ghanaians out of the 21 million Christians to support this. I still have faith in the Ghanaian and I am confident that we will do this,” he added.
The station has also reported that talks between the players and the club are almost 90% complete.
It is expected that the club will make an official announcement soon upon completion of paperwork.
The move of McCarthy and Banahene to Bibiani GoldStars will give a big boost to the team as they look to improve their performance in the league.
Both McCarthy and Banahene are experienced players who have played for AshantiGold in the Ghanaian top flight before the ‘Miners’ were demoted to the Division Two League at the start of this campaign.
Michae Osei’s side sits fifth on the Ghana Premier League tanle with 20 points after 13 games and are looking to add experience to his team.
GoldStars will next play Tamale City in week 14 of the league at Aliu Mahama Sports Stadium.
The Ranking Member of the Parliamentary Select Committee on Health, Kwabena Mintah Akandoh, led a tour by some Members of Parliament to project sites meant for the construction of health facilities under the Agenda 111 project.
At one of the sites meant for the project in Kwabenakwa, in the Obuasi East District of the Ashanti Region, the team met bare land being used by quarrymen.
According to Mintah Akandoh, Member of Parliament for Juaboso, although the government had paid the project’s contractor more than $1 million, no work had been completed, and the contractor was not even on-site.
He added that, in addition to the $1 million, records show that the government had also paid subcontractors of the project more than $1 million as of January 2022.
“This is one of the projects that the government pumped the COVID-19 money into. And per our records, they have given this contractor not less than $1 million as at January 2022, and we are in January 2023 and there is no contractor on site.
“There are other sub-contractors who have been paid … Giel Limited has been paid almost $81,000, Concord Consult Limited has been paid about $130,000 and I can see Express Property Company Limited has been paid more than $1 million as far back as January 2022,” he said.
The team also visited other Agenda 111 project sites where little or no work had been done.
The Minority in Parliament wants the government to as a matter of urgency ensure that contractors assigned to the Danfa District Hospital in the Greater Accra Region under the agenda 111 policy return to site to commence work on the project.
The group bemoans that despite the allocation of over 1 million dollars as mobilization fund to the contractors since last year [2022], work is yet to start on the health facility.
During a visit to the proposed site by the minority members on the Health Committee of Parliament, the Ranking Member, Kwabena Mintah Akandoh urged the government to be committed to the project.
“Approximately $1.3 million has been paid to these contractors, and so we were expecting that at least by now we could see some structures on site. But unfortunately, there’s no structure on-site at all.
“And so we are calling on government to immediately find the whereabouts of these companies/contractors. We should see some action at site, because they have been paid,” the Ranking Member on the Health Committee of Parliament fumed.
He lamented the widespread assumption that TVET was only for kids who struggled academically and that TVET was the foundation of the nation’s fast growth goal for job creation.
“We need to get rid with the misconception that TVET is only for mediocre pupils. It is the key to the nation’s development, he remarked.
“We are determined to disabuse the minds of parents and students to overcome the prejudice and misconceptions they have about TVET to move the nation forward.”
Countries with embedded systems of TVET such as Australia and Germany had been successful in maintaining low youth unemployment rates, he noted, and that Ghana would reap the benefits soon as it had begun to pursue that path.
“Skills are important means to increase incomes and sustain livelihoods for the poor. Our economy is largely informal, therefore, it is crucial that skill training is improved to create jobs and shore up revenue.”
Assuring the youth of support, Mr Ansah re-echoed government’s commitment to injecting more resources into TVET as part of efforts to reduce youth unemployment through training.
The move is expected to build a solid foundation for robust technological training and boost enrolment of technical students across the country to sustain the government’s industrial revolution agenda.
Hence the Ghana TVET Service has been introduced to give a new face to technical education to reignite the passion of young men and women in the sector,.
He said the government had also established the first-ever second-cycle TVET applied technology high schools across the country to offer career-based education and industry participation to make it demand driven.
“The programmes will be benchmarked against international best practices and standards. Most importantly, the applied technology high school will build strategic alliances with community, industry, development partners and the government to ensure it is responsive to national needs and expectations of socio-economic transformation.”
Already the Government had designated all new TVET institutions in the country for the programme, Mr Ansah said.
Ghanaian international, Malik Abdul Abubakari is set to sign for AEK Larnaca on loan for the rest of the season.
The talented youngster is joining the Cypriot top-flight side in a move from Swedish giants Malmo FF.
In an official statement from AEK Larnaca, the club on Wednesday said a deal has been agreed upon for the Ghanaian striker to complete his switch.
“Kition Sports Union (AEK) Larnaca announces the agreement in principle with Malmoe FF for the acquisition of the 22-year-old (02/10/2000) Ghanaian striker Abdul Malik Abubakari, on loan until the end of the season,” the club statement from the Cypriot side said.
Today, sources have confirmed that Abdul Malik Abubakari has touched down in Cyprus to join AEK Larnaca.
Since joining Malmo, the forward has scored eight goals after making 38 appearances.
His loan move to AEK Larnaca is to ensure he plays regularly to continue his development.
In the past, the Ghanaian forward played for Casa Pia and HJK Helsinki.
Ghanaians have been cautioned to be on the alert and extra careful when sharing their biodata with third party user and even in their office setting
The situation where some individuals become click freaks on the Internet, subscribing to anything on social media platforms and the Internet can be dangerous to their identity.
These were made known by the commissioner and Executive Director of the Data Protection Commission (DPC) an agency under the Ministry of Communications and digitization, Ms. Patricia Adusei-Poku on the Ultimate breakfast show with Julius Caesar Anadem.
“In these day and age, you should be mindful where your biodata or any form of data ends up. People get on the Internet or social media and subscribe to anything by inputting their personal details there without knowing those platforms too well. This can be dangerous as your data can be used for clandestine purposes that may injury your reputation”, she warned
“Before you come to the realization of some of these things, it’s sometimes too late because your data is in the wrong hands” , the DPC Boss stressed.
She bemoaned the practice where by people receive unsolicited information from institutions where they have never engaged.
“We get feedback from people about unsolicited promotions especially, within the financial sector. Some government workers have complained to us they haven’t subscribed to some of these messages but receive them. You can seek redress if you know the institution that gave out your Data. It is a crime to sell off the data of a person to another institutions without their consent, people can sue if they get to know their data is been misused”, she cautioned.
The Data Protection Commission is celebrating Ghana’s Data protection week on the theme “DATA GOVERNANCE FOR A SAFE DIGITIZED SPACE”.
Globally the day is celebrated on the 28th January, but Ghana has chosen to celebrate a week-long event to create awareness from the 24th of January to the 31st January.
He asserts that purchasing at a premium will result in fuel prices that are higher than those that the government has upheld.
Speaking to Citi News, he said “In fact, the information I have is that the oil they bought is at a premium and not at a discount. So, this narrative that they are going to get cheap oil somewhere is not true. Let me state that there is nothing like cheap oil when it comes to the international oil market. On the contrary, this deal is leading to a premium in terms of pricing.”
“The notion that fuel prices will go down is not true. The other side is that the diesel covers only 25% of our requirement and you see that is not even enough to change the price,” he said.
John Jinapor also called on the government to halt the programme for broader consultations to be held.
Meanwhile, the Head of financial markets at the Bank of Ghana, Stephen Opata, has confirmed that the first consignment from the gold for oil policy is already being sold to the bulk oil distributing companies.
He noted that even though the prices are lower than the ex-pump prices, the impact will not be felt since it is just about 20% of the country’s market needs.
“The product was cleared from the ports today and I know that BOST has started selling. This is just 20% of our market needs from the numbers I have seen the prices are better than what is at the ex-pump prices right now.
“Because this is just 20 percent of our needs, it will not make that much impact as it would if we were to be doing 100 percent of our diesel needs,” he was quoted by myjoyonline.com.
The first consignment of the oil from the gold for oil policy arrived in Ghana on Monday, January 16, 2023.
The 41,000 metric tons of oil from the United Arab Emirates was however discharged to Bulk Oil Storage and Transportation (BOST).
The move is part of the government’s efforts to curb high fuel prices and the lack of enough dollars to purchase oil from the international market.
A former appointee of government, Jones Sarfo Anyamesem has suggested Haruna Iddrisu’s removal from leadership role in Parliament on the side of the National Democratic Congress (NDC) is a punishment.
The NPP man who is a former NABCO coordinator, claims his refusal to throw his support behind Mr. Johnson Asiedu Nketiah candidature in that party’s National Election last month is to prove to him and others that the General Mosquito as affectionately called is now at the helm of the party.
He was speaking on Kumasi-based Ultimate Fm.
“You see, I don’t belong to NDC but any politician will like Haruna in their party. He knows his trade and has acquitted himself with his team. He has created history in Ghana by together with his group creating a hung parliament”
“How do you remove such a person and replace him with losers who we don’t know their track record in the house? Haruna is just being punished for not openly supporting Asiedu Nketia period”, he claimed.
The NDC has changed its leadership in Parliament replacing Haruna Iddrisu with Dr. Cassiel Ato Forson as the Minority leader.
The changes have been met with some opposition from grassroots members where as some leading members believe it was unnecessary.
The program is also a component of the government’s aim to support private enterprise as a means of encouraging long-term job creation and economic expansion.
Small and medium-sized businesses in specific non-resource-based industries are the focus of the SME High-Growth Challenge Fund, which is a program of the GETP with the goal of boosting their productivity and competitiveness.
Mr Isaac Yankson, the Western Region Trade Officer, told the GNA in an interview that the SME High Growth Programme would focus on high-growth small and medium-size enterprises in selected sectors of the economy.
He added that the Programme would focus strongly on youth and female-owned enterprises, enterprises owned by Persons Living with Disabilities as well as businesses that are into exporting.
Mr. Yankson encouraged SMEs to take advantage of and apply for the grant to shore up productivity and advance economic growth.
National Democratic Congress (NDC) stalwart and former Member of Parliament (MP) for Tamale Central Alhaji Inusah Fuseini has defended the decision of the NDC national leadership to change the leadership of the NDC minority caucus in Parliament. He described the change as forward-looking and not a suggestion of failure on the part of the old leadership.
Speaking on Pan-African TV, Alhaji Inusah argued that the change is a strategic repositioning of the party in that Parliament will become battleground for the NDC as it seeks to wrestle power from the governing New Patriotic Party (NPP) in 2024.
“… Energy will play a critical role in debates in Parliament; Infrastructure will play a critical role in debates…So the reshuffle is simply not to say the old leadership, the leadership of Haruna Iddrisu did not do well. No! Far from it. I have had occasion to tell him[ Haruna Iddrisu] time and again that he had done well. But this reshuffle is forward-looking. What is the goal? The goal is to secure victory, to win, to use Parliament as a battleground to win the minds and hearts of the people of Ghana and engender sympathy towards the NDC for election 2024,” he argued.
He stressed that the change in the national leadership and subsequently the parliamentary leadership of the party is to send a signal of the party’s strategic repositioning given the prevailing circumstances.
“Now that being so, you have to put your best foot forward. Strategic repositioning of the party does not mean that those who were replaced did not do well.
Again strategic repositioning and election of new current executive is to send a signal that this is what NDC is doing: to position people in such a way so that the party cannot lose election 2024. And that is what has been done. And that is why I respect and I support it. And I will defend it anywhere,” he noted on Pan African TV
The new leadership of Parliament for the NDC minority caucus is headed by Cassiel Ato Forson.
The company’s expansion strategy and the demand for pure, unadulterated pineapple juice in those countries, according to Mr. Frederick Kobbyna Acquaah, director of operations at Ekumfi Fruits and Juices Limited, drove the decision.
“We have done all the preparatory works and are now working on our export documents and by the middle of the year we will begin exporting to those markets,” he stated.
Mr Acquaah, who took journalists round the pineapple farms of Ekumfi Fruits and Juices Limited to acquaint themselves with the operations and production processes, said the opportunity to enter the US, UK as well as Dubai markets would help sell Ghana internationally.
He said the company had more than 3000 acres of pineapples in cultivation.
The farms, which are the company’s own pineapple farms, are located at Obri in the Gomoa West, Ekumfi Sardo near Otuam and Ekumfi Edumafa in the Ekumfi District.
The farms to 6,000 acres and subsequently to 12,000 to meet the increasing demand for pineapples for the factory and also for the sustainability of the company.
“The new market we have found in US, UK, and Dubai have also necessitated the increase of our farms,” Mr Acquaah stated.
He dismissed some media reports that the company had collapsed.
Mr Acquaah explained that the company has not shut down, saying the company produced based on demand to maximise economies of scale.
“Whatever we produced has already been sold,” Mr Acquaah said.
He said the company currently produced five various types of ‘Eku Juice’ and plans were advanced to introduce three additional variants.
He explained that the factory, established at a cost of $20 million under the One District, One Factory initiative, had the capacity to process ten tonnes of pineapple per hour which translated to four acres of pineapple farm.
He said the company had more than 1000 workers who mostly were on the farms, adding that the factory had more than 75 professionals.
The Director of Operations said the company was running a double-shift system and the expansion plan would help triple it.
He said the establishment of the factory had helped to create jobs and improve the economy of the area in which the factory was established.
As part of the programme, Mr Acquaah took the journalists round the $10 million Central Citrus Processing Limited at Abura-Asebu in the Abura-Asebu-Kwamankese District.
Mr Acquaah said the Central Citrus Processing Limited was a factory he was “mentoring”.
He said the factory would process citrus oil from the peels of oranges for export, while Ekumfi Fruits and Juices Limited used the pulp for citrus juice.
He said the factory was located in a citrus production enclave and would help address the post-harvest losses of the citrus produced in the area and boost the economies of towns around the factory.
On corporate social investment, Mr Acquaah said the company was delivering on its corporate social responsibility by awarding scholarships and providing sanitation facilities to communities in the catchment area of the company.
The Ekumfi Fruits and Juices Limited was established in 2019, under the One District, One Factory initiative.
Gabby Asare Otchere-Darko, the founder and chairman of the Africa Prosperity Network, has said the African Continental Free Trade Area (AfCFTA) promises economic integration hence its success will be the collective success of the African continent.
Otchere-Darko said Africans must put in every effort to achieve the goals of the AfCFTA.
Speaking at the opening of the maiden Africa Prosperity Dialogues at the Safari Valley Resort in Adukrom in the Eastern Region, he said, “Its [AfCFTA’s] success is our success. If it works, it will significantly boost trade and investments, provide jobs and increase prosperity across the continent, like never before.”
“But, in order for it to work and work for us, the workings of the AfCFTA must be seen and felt from this onset to be for the people of Africa. For our collective ownership and shared benefit, it must be owned by businesses in Africa,” Otchere-Darko said.
He said, “the aggregate value of enterprises and industries across Africa must be networked, coordinated and impactfully leveraged, adding that “that is why, we of the Africa Prosperity Network, are pleased to have created this dedicated platform, the Africa Prosperity Dialogues, as an annual retreat where business leaders, thought leaders, trade associations, development organisations, young and women entrepreneurs, etc., will sit together, think together, plan together, and work together, with urgency, to intensify the efforts towards achieving the goals of AfCFTA.”
Meanwhile, the executive director of the Africa Prosperity Network (APN), Dr Eugene Owusu, welcoming the participants said, “The game-changer [in the development of Africa] will be the speed and scope of AfCFTA. The next two days must not be a celebration but a call to action.”
“It is truly heartwarming to see this assembly of eminent business and policy leaders from across the continent come together around the AfCFTA and to do so with such enthusiasm and vitality.
He said, “The Africa Prosperity Dialogues series have been established as a convening platform for Africa political and business leaders to set and push initiatives to transform Africa with the overarching objectives of achieving prosperity across the continent through in particular enhanced economic cooperation, deeper trade and integration and accelerating impact investment.”
“There is no doubt that this maiden Africa Prosperity Dialogue is taking place against the backdrop of immersed challenges that confront our continent but also exciting opportunities that our continent has to transform itself,” Dr Owusu added.
The maiden series of the Africa Prosperity Dialogues kicked off on Thursday (26 January) and will end on Saturday (28 January). The serial event, also dubbed the Kwahu Summit, involves captains of industry, entrepreneurs, economists, bankers and other business leaders in Africa taking part in three days of discussion about what needs to be done next to expand trade and wealth creation across the continent.
The Africa Prosperity Dialogues is a strategic platform where movers and shakers in the African economy will elevate the objectives of the African Continental Free Trade Agreement (AfCFTA) from ambition to real action.
The summit will be a focused event where African leaders from diverse areas of national endeavour will gather each year to discuss and share experiences on initiatives required for Africa to achieve the goal of shared prosperity and to review the Africa Agenda for Action.
Additionally, it is suspected, in his words, that the Jubilee House supports the exclusion of particular bondholders.
The Finance Ministry appears to be adamant, nevertheless, about the program’s complete inclusion of individual bondholders as well as the 5% coupon in 2023.
He said “Meanwhile, the Finance Ministry is pretty isolated at Cabinet this afternoon. Will be interesting to see whether their nerves will hold as the rest of the government begins to buckle under pressure.”
The Finance Ministry announced that an agreement has been reached with the Ghana Association of Bankers to pay a 5% coupon rate in 2023.
In view of the agreement, the Individual Bondholders Forum reaffirmed its position that they should be exempted from the debt exchange program.
According to them, this agreement will mean that the government may be able to achieve its 80% participation rate for the programme to be successful.
The Right to Information (RTI) Commission has ruled that information on President Akufo-Addo’s travels on both private and state-owned presidential jets, and the accompanying cost incurred, should not be made public.
The Commission said such information falls under the exempted information specified in section 5 of the RTI law. The RTI Commission cited national security concerns for its ruling.
However, on June 24, 2022, while the petition was pending before the RTI Commission, the Director of Communications at the Presidency, Eugene Arhin, shared the president’s itinerary during one of President Akufo-Addo’s travels abroad.
This contradicts the RTI commission’s decision that disclosing the type of flight, the President’s itinerary and the size of the delegation, puts the security of the President at risk and therefore, the information was exempted.
While the president was still on the trip, the Director of Communications released a press statement and, among others, gave details of some of the places the president was yet to go:
“…the President travelled to Belgium on board an Air France commercial flight (AF0584), which departed Accra on Sunday 7:20 PM, made a stop-over in Ouagadougou, Burkina Faso, and then continued to Paris. In fact, all of President Akufo Addo’s 12-member delegation travelled via commercial,” the press statement stated.
It continued: “One such trip to be undertaken by the President, where the Presidential jet is to be used, will be on Sunday, 26th June, where he will travel to Lisbon, Portugal, to attend the 2022 UN Ocean Conference, and return home Wednesday, 29th June,” the statements issued by the Presidency said.
It was in response to allegations the Member of Parliament North Tongu, Samuel Okudzeto Ablakwa, had made that the President had hired a private jet for the trip in question.
Though the office of the president gave details of a trip that was still pending, the RTI Commission ruled that information Manasseh was seeking about a past trip on similar issues could not be released.
Manasseh Azure Awuni, in December 2021, requested information on the procurement process used in selecting the companies from which the presidency rented private jets for the president’s travels as well as the cost of renting the private jets between May and September 2021.
The Editor-in-Chief of The Fourth Estate also wanted a copy of the assessment report which declared the current presidential jet technically unfit for use by the president for which the presidency resorted to the renting of private jets. The request also wanted to know the number of people who travelled with the president.
In a response on January 19, 2022, the Chief of Staff, Akosua Frema Osei-Opare, commended The Fourth Estate for its use of the RTI law. She, however, said the information requested was exempted according to the RTI law.
“Your request for access to information on the president’s travel has been carefully considered and I have found that the information requested falls within the kinds of information classified as “exempt from disclosure” by the RTI Act as the information requests relate to:
The movement and travels of the president, the Commander-In-Chief of the Ghana Armed Forces, which information is a matter of national security.
Information on the processes leading to the choice by the President of a specific aircraft for his travels and the manner of those travels; and
The presidential jet is part of the equipment of the Ghana Armed Forces and thus, its use is part of the defence mechanisms of the Republic.
“The Information requested is, therefore, exempt under sections 5(1) (b)(ii),9(1)(a) and (9)(2) of the RTI Act.
Unsatisfied with the response, Manasseh wrote an internal appeal to President Akufo-Addo on February 10, 2022, for a review of the Chief of Staff’s decision. This step was in accordance with section 31 of the RTI Act, 2019 (Act 989).
He argued that despite the Chief of Staff’s reference to section 5(1) of the RTI Act, section 5(2) of the Act states that “Information which contains factual or statistical data is not exempt information.”
“Section 5(2) therefore excludes parts of our request, especially the portions relating to numbers, costs, and statistics, from being exempt,” he stated.
“Moreover, the issue concerning the president’s hiring and travels in a private jet is an issue of public interest that has generated fierce debates and discussions in parliament, the media, and among the general public,” the appeal to the president stated.
It continued: “For many citizens, the issue borders on the abuse of authority by the president, and neglect in the performance of his official function of protecting the public purse, especially when the state has a functioning presidential jet in Dassault Falcon 900-EXE, which is being used by some heads of States in the West African sub-region. My request, therefore, relates to the public interest and abuse of authority, in accordance with section 17(1)(d)(e), which states:
“‘Despite a provision of this Act on information exempt from disclosure, information is not exempt from disclosure if the disclosure of the information reveals evidence of:
(d)an abuse of authority or a neglect in the performance of an official function;
or (e) any other matter of public interest and the benefits of disclosure clearly outweigh the harm or danger that the disclosure will cause.’”
The appeal to the President said the response of the Chief of Staff failed to prove that disclosing the cost of the private jet rented by the president, and the procurement processes leading to that could jeopardise the security of the president.
More than 15 days later, the president failed to respond to the internal review application as required by the RTI law. This necessitated an appeal to the RTI Commission on the matter.
RTI Commission’s ruling
It said a critical assessment of the requests by “the applicant [Manasseh Awuni Azure] shows that responses to those requests, in one way or the other, reveal information about the President’s movement: the number of people he normally travels with, the type of aircraft that is normally hired for his travels and the companies whose aircraft are normally hired and the movement of the presidential jet.”
It added: “All these are things that pertain to the President’s security, the security of his movements, the security of the officers he travels with; all feeding into national security or security of the State. Information in that respect should therefore be exempt from disclosure in accordance with sections 5(1)(b)(ii) and 9 (1)(a), (2) of Act 989,” the commission’s ruling said.
The ruling came 10 months after Manasseh Azure Awuni petitioned the Commission on the presidency’s refusal to disclose information on the cost of renting private jets for the president’s foreign travels, the procurement processes and the size of entourage which had become subject of intense public debate.
The Commission said aside from grounding its ruling in Section 5 of the RTI law, the responses the Minister of National Security, Albert Kan Dapaah, gave Parliament in December 2021, affirmed its argument that the information be exempted from disclosure to the public.
The National Minister had told Parliament that “recent official travels to France, Belgium, and South Africa by President Akufo-Addo are paid for out of the operational funds from the Ministry of National Security. Mr Speaker, payments out of the ministry’s operational funds are glued with rules of confidentiality and state secrecy and it is not the normal practice…to make the suggested disclosures.”
Manasseh had argued to the commission that the information had statistical value and was, therefore, not exempted.
The RTI Commission said although the cost of the President’s travel was statistical data, which should be permissible under Act 989, its view “is that where those figures tell on the security of the President and his entourage, and therefore the national security of the State, those ‘figures’ or statistical information ought to be exempted from disclosure under Act 989 per sections 5(1) (b)(ii),9(1)(a), (2)).’’
The list of 13 exemptions in Section 5 of the Act includes information relating to law enforcement and public safety and security of the state, information prepared for the president, vice president or cabinet. Others are matters affecting international relations and information relating to economic or any other interest.
Do other countries disclose the cost of their president’s travel?
The demand for transparency and accountability about presidential travels and subsequent disclosure is not new. In other democracies, including countries in southern Africa and North America, governments have been open to parliamentary enquiries and right to information requests on the matter.
South Africa
In November 2011, South Africa’s Minister of Defence and Military Veterans, Lindiwe Sisulu, told Parliament that former South African President, Jacob Zuma’s, trip to the United States of America in September 2011 cost the public purse R6.3 million(the equivalent of $732,558).
Botswana
Botswana also ticked the box of transparency for presidential travels. In August 2022, the Ministry for State President told lawmakers that President Mokgweetsi Masisi spent P18 million ($1,401,660) on his official trips to 26 countries including Ghana.
United States
In the United States of America, the Government’s Accountability Office disclosed in January 2019 that President Donald Trump’s four trips to Mar-a-Lago from February 3, 2017, to March 5, 2017, cost a little over US$13 million.
“We estimate that federal agencies incurred costs of about $13.6 million,” the office said.
Through a freedom of information request, Judicial Watch, a non-governmental organisation in the United States which promotes transparency and accountability went to court and obtained information that former American President Barack Obama’s travel expenses for his eight years in office cost the US taxpayer $96,938,882.51.
Canada
In Canada, the Department of National Defence pegged Prime Minister, Justine Trudeau’s cost of travel on a two-day trip in August 2020 at Can$54,115.08. This information was made available through a freedom of information request.
In its report, the A-G said the state spent US$607,419.02 out of US$4,049,460.12 for the purchase of 26 ambulances but the vehicles were never delivered.
Also, it said staff of the Information Ministry were paid an unapproved amount of GH¢151,500 as COVID-19 insurance.
Furthermore, $81 million worth of vaccines were not delivered.
RE- AUDIT OF THE GOVERNMENT OF GHANA COVID-19 EXPENDITURE FOR THE PERIOD MARCH 2020 TO JUNE 2022
The Ministry of Finance takes note of the Auditor General’s report on the government of Ghana’s Covid-19 expenditure for the period March 2020 to June 2022, issued on 30th December 2022.
2. The Ministry wishes to commend the Auditor General on the publication of the Special Audit Report of the Government of Ghana Covid-19 expenditure which was commissioned by the Minister for Finance on 14th July 2022 and the timely release of the Audit report.
3. The Ministry wishes to provide the following background and clarifications to some aspects of the report, with the objective of enhancing public appreciation of the issues raised in the report:
a. The audit report confirms total resources mobilized for the Covid-19 response over the period March 2020 to June 2022 at GH¢21,844,189,185.24.
b. As indicated on page 7, paragraph 18 of the report, the funds mobilized were to address the following two key interventions:
i. finance direct Covid-19 intervention expenditures; and
ii. support the funding gap in the budget which was occasioned by the Covid-19 pandemic and its effects on revenue mobilization.
c. Hence, as reported on page 11, paragraph 31 of the report, the 53.8% and 46.2% spent on direct Covid-19 interventions and for general budget support respectively were consistent with the mandate approved by Parliament.
d. The Ministry of Finance coordinated the mobilization and disbursement of funds for the Covid-19 responses by the Government in accordance with the Public Financial Management Act, to ensure the timely release of funds to save lives, livelihoods, and property.
4. The Ministry welcomes the Auditor General’s report and wishes to assure the public that, steps are being taken to address all issues. The following interventions are currently being pursued by the Ministry:
a. Meetings are being organised to engage with the implementing Agencies to evaluate actions taken to implement the audit recommendations in the audit report.
b. Preparation of an Emergency Expenditure Management Guideline. This guideline will provide the government with administrative protocols in times of emergency such as the Covid-19 pandemic to ensure compliance with relevant PFM regulations whiles providing timely responses.
5. The Ministry of Finance will continue to apply its best efforts to enforce and enhance expenditure management and accountability to ensure proper utilization of tax revenue to the full benefit of citizens using established budgetary and accountability systems in Government.
Olympique de Marseille is interested in Ernest Nuamah according to Footballghana
Marseille representatives recently observed the 19-year-old Ghanaian attacker, who has scored five goals and provided four assists in 16 Danish Superliga games.
Under contract until June 2026, he is valued at 1.5 million euros according to Transfermarkt.
Nuamah started his career with Right to Dream Academy before joining FC Nordsjælland in January 2022.
He made his debut on 10 April 2022 when he came on in the 67th minute for Magnus Kofod Andersen to score an 84th-minute goal in a 2–2 draw to Aarhus GF. He was adjudged as the team’s man of the match at the end of the match.
Ernest Nuamah was included in Ghana’s 55 man provisional squad ahead of the 2022 World Cup. This was the first time the youngster has received a call up to the senior national side.
Nuamah has been tipped for greatness by football pundits in Denmark.
The Eastern Region branch of the Ghana Referees Association, has threatened to boycott the regions second division matches, which is set to kick start this weekend due to poor allowances.
In statement signed by all District Referee Managers sighted by BrytSports, the referees are not willing to honour the division two league games if their allowances are not reviewed by the RFA.
They demand the payment of their transportation and an increase of their allowances from GHC100 to at least GHC150.
Below is the statement from the Referees department:
Legon Cities Communications Director, Kwame Dwomoh-Agyemang, says the Royals are hoping to win more games at home in the second round of the 2022/23 Ghana Premier League.
He is looking forward to an improved performance from his team ahead of their home game against Bechem United at El Wak Stadium week 14 of the Ghana Premier League.
Speaking to Citi Sports, Dwomoh-Agyemang expressed satisfaction with the team’s performance so far.
“It’s pretty decent. I mean we’ve been able to pick up 17 points. The only thing that probably would worry everyone associated with the club is the number of wins that we have picked up at home this season,” he said.
“It appears we’ve picked up more even on the road than at home and I believe that…hopefully in the second round we are going to pick a lot more points at home and a couple on the road so it would enhance our standings on the league log.”
Legon Cities are currently in tenth place in the league with 17 points, while Bechem United are in sixth with 20 points.
Manchester City manager Pep Guardiola believes Premier League leaders Arsenal are benefitting from the patience showed to Mikel Arteta in his early years in charge of the Gunners.
Arteta worked as Guardiola’s assistant at City for three-and-a-half years before taking his first senior managerial role in London in 2019. The Spaniard had immediate success in winning the 2020 FA Cup, but failed to break into the Premier League’s top four in any of his first three seasons. Now Arsenal are well on course to end a 19-year wait to win a league title as they lead City by five points and have a game in hand on Guardiola’s men.
The two clubs go head to head for the first of three games in the next few months in the FA Cup fourth round this Friday. “I had the feeling. We knew it when he was here,” said Guardiola on Arteta’s coaching ability. “The biggest compliment for Arsenal as well, is for backing him in the bad moments and trusting him, and keeping him and relying on him. “At the end, you need time, you need investment and the results are there. It is a challenge for us to challenge them.”
During Guardiola’s reign in Manchester, City have dominated English football, winning four Premier League titles among nine major trophies. But he has tried to light a fire under his players in recent weeks to revive the hunger that has brought so much success. Guardiola has even used Arsenal’s desire during the first half of the season as the example for his side to match.
“A team with 50 points in one leg (half of the season) is the best. We have to prove how far away or how close we are,” added Guardiola on Friday’s cup clash. “I encourage them to look themselves. When they are not happy for many reasons, the only way is to perform better. “Think in the past is the past. What happened in the past is the past. We get the salary for what we will do in the future. Extend the contract, what we’re going to do in the future. The past is done.”
In his remarks, Dr. Prempeh made the point that Ghana’s energy sector infrastructure, when viewed in the context of the global energy value chain, is not immune to cyber-attacks. As a result, it is imperative to make conscious efforts to fight these crimes because the crippling and destruction of this infrastructure would have a catastrophic effect on our country’s economy.
He further indicated his recognition of the need for effective cybersecurity control in the energy sector. “This, I believe will help us quickly detect and prevent potential cyber incidents and minimize their impacts, even when they occur,” he said
“As sector Minister, I remain committed to synergizing our efforts with the Cyber Security Authority (CSA) for a smooth implementation process,” he said
He continued” the cyberspace of the energy sector is one that is very important as far as guarding the sanctity of the work we do is concerned. We are thus, prioritizing it with all the seriousness we can muster”
The committee is chaired by Deputy Energy Minister, Hon. Andrew Mercer with support from the Director General of the Cyber Security Authority, Dr Albert Antwi Boasiako.
He was speaking at a media engagement by the headline sponsor of the Ghana Women’s Premier League in Accra.
Present at the program were Diana Adu Asare, Marketing Manager of Malta Guinness, and Wilmar Amo-Osae, Brands Manager of Malta Guinness.
Others included Cleopatra Nketia, Jerry Dugbartey, and Christian Mensah, Management Committee Members of the Women’s Premier League Board.
“FIFA said that women’s football is the football that is one for the future and has room for growth. I am sure when you talk about men’s football there is nothing new there. But there is space in women’s football for a lot innovation and a lot of growth,” he said.
“So it is only right that we channel our energies our resources into women’s football. From the perspective of the Ghana Football Association and indeed the message from the executive council of the association is that we will continue to invest in our women’s game,”
The News Conference is the second to be organized by the group after what it described as an unsuccessful attempt to meet the Energy Commission for further deliberations. Members of the Association, which include those from Kumasi, joined their counterparts in Accra to register their displeasure over the intention to ban used electronics.
Members who wore mostly red said a ban on the products will further worsen the economic situation of the country.
It was a charged atmosphere minutes before the leadership of the group addressed the media.
Chairperson of the Association, Daniel Asare, said their checks on the sale of a home-used items revealed it is a standard practice the world over and wondered why not Ghana.
He said a major concern raised by the Energy Commission is regulation and asked the Commission to channel its energies to that area.
President of GUTA, Dr Joseph Obeng said the newness of a product does not necessarily make it quality, adding that consumers are best placed to make such a determination.
He was hopeful the second-hand market will continue to thrive even in the face of challenges and encouraged dealers to deal with only quality products.
The ban on the importation of second-hand products which initially covered two products has been revised to cover 17 other products such as computers, electric kettles, industrial fans, microwave ovens, rice cookers, washing machines, Solar panel television sets and monitors among other products.
The group said the charge is for all Ghanaians to rise and add their voice to ensure the policy is not implemented.
The tenure of the Member of Parliament for Tamale South, Haruna Iddrisu, as Minority Leader in Ghana’s parliament may well be over for now, but that cannot be without some of the huge impacts his administration chalked in the last six years.
Having become the Minority Leader in 2017 after the current government, led by President Nana Addo Dankwa Akufo-Addo, took over political office, the outspoken former leader of parliament has been in the news for many good and bad things.
However, in this GhanaWeb article, we take a look at some seven major achievements that were chalked under his tenure.
This life is made available via JoyNews and elaborated on by this news portal. Here they are:
NDC Speaker of Parliament from the Minority side:
It was the kind of news that took the entire nation by surprise when it emerged that, for the first time in Ghana’s history, the person who had been elected to be the Speaker of Parliament was from the minority side of the House.
Alban Bagbin, who had not long ago said his goodbyes to contesting the seat of the Nadowli/Kaleo constituency ( the seat he held from 1992 until 2020), beat the more incumbent Prof. Aaron Mike Oquaye to become the Speaker of Parliament.
His election coincided with the historic 8th Parliament of Ghana, which is the first hung Parliament ever in the country, with a split of 137 seats each on both sides of the House.
However, the only independent Member of Parliament, who is also currently the Second Deputy Speaker of Parliament, Andrew Asiamah Amoako of the Fomena constituency, was elected to vote with the New Patriotic Party (NPP).
The election of Alban Bagbin as Ghana’s Speaker of Parliament remains, perhaps, the biggest achievement of the Haruna Iddrisu administration.
Rejection of 2022 budget:
On November 26, 2021, the Haruna Iddrisu-led minority in parliament chalked up another first when they rejected the 2022 Budget Statement and Economic Policy that was presented to the House.
The statement was presented by the Minister of Finance, Ken Ofori-Atta.
On the day, parliament was expected to bring a finality to its debate of the budget, and eventually approve it, but things spiralled differently.
In a turn of events, the Majority MPs staged a walkout of the House, leaving only members of the National Democratic Congress (NDC) side to decide on the budget.
They eventually voted for the rejection of the budget, making it the first time such a thing had happened in the country.
However, days later, there was a reverse move by the Majority when they resumed sitting. They overturned the earlier decision of the Speaker of Parliament, who was absent on that day, led by the First Deputy Speaker of Parliament and a member of the NPP, Joseph Osei-Owusu.
Got E-Levy rate reduced from 1.75% to 1.5%:
Through the influence of the Minority, the initially proposed 1.75% Electronic Transfer Levy (E-Levy) that was presented to parliament, was reduced to 1.5%.
The E-Levy, which has since become law, allows for the government to tax all digital money platforms, such as Mobile Money services, a tax on all transactions made.
The E-Levy, which was a controversial bill before parliament for a very long time, has recently been reviewed further to 1%.
Blocked government from fully financing National Cathedral:
On Wednesday, December 14, 2022, parliament’s Trades and Industry Committee suspended the approval process for an amount of GH¢80 million allocated for the construction of the National Cathedral.
The allocation was the first time an amount had been explicitly made in lieu of the project, with previous disbursements made out of the Contingency Fund.
According to Minister of Finance, Ken Ofori-Atta, over GH¢330 million has so far been expended from the Fund.
The 2023 allocation was made in respect of the Ministry of Tourism (MoT), but the Committee’s said the previous disbursements will need to be justified along with the new allocation for the budgeted sum to be approved.
Tamale Central Member of Parliament, Ibrahim Murtala Mohammed, who disclosed the development to Accra-based JoyNews on December 13, said the suspension will be in place till justification for the allocation is made.
“What the Committee decided was that we cannot just approve this GH¢80 million, we must know how the other GH¢339 million was spent. What did it constitute?
“The GH¢80 million you want us to approve, how did it find space in the budget line of the Ministry of Tourism when the Minister and the directors could not speak to the questions we were asking? What constitutes the GH¢80 million, they should give us a breakdown,” he stressed.
Probe into COVID-19 expenditure:
On Thursday, June 2, 2022, Haruna Iddrisu led the Minority in Parliament to demand that a probe be made into the expenditure that has been made so far in the country’s fight against the Coronavirus.
According to him, the Minority is vindicated by the fact that a leading member of the NPP publicly disclosed that COVID funds were shared among party executives.
His comment followed claims that some COVID-19 monies had been shared among NPP members.
”As much as we feel vindicated, we also feel equally scandalised by emerging reports by leading members of the NPP in particular, a leading Vice-Chair called Felicia Tetteh, who is publicly reported to have said that COVID monies were shared among party leadership, constituencies, regional and for my purposes, I add national,” he said in a press conference.
Haruna Iddrisu further stated their demand for an immediate investigation into the matter.
“That in fact makes our call for an imminent investigation of the highly anomalous COVID expenditure spending to be probed. We now can understand why a motion by the Minority in Parliament to probe COVID by an institution which should be the most fundamental institution and guardian of the public purse, parliament, will dismiss the motion even at birth by actors of the New Patriotic Party political administration,” he added.
In August 2022, the probe eventually started.
Ken Ofori-Atta dragged before a vote of censure committee:
After several attempts to get the Minister of Finance, Ken Ofori-Atta, to resign, the Minority, led by Haruna Iddrisu and Dr. Cassiel Ato Forson (the new Minority Leader), initiate a parliamentary process to remove the minister.
He was eventually dragged before an ad hoc committee that was set up by the Speaker of Parliament, Alban Bagbin, to look into the vote of censure motion brought before the House.
It become another historic moment, seeing that in the history of the country, this was only the second time that a minister of state was facing a vote of censure.
The Speaker of Parliament, after reviewing the report presented to him by the committee called for a vote to be taken on the motion.
The Majority however staged a walkout, leaving their colleagues on the other side of the House to deliberate alone, but they were unable to get the motion passed because they failed to make up the needed numbers to pass it.
The vote of censure eventually failed.
Blocked the controversial Agyapa deal:
The government of Ghana, through Ken Ofori-Atta, presented a deal to parliament that the Minority fought vehemently against.
Known as the Agyapa deal, the government sought to securitise Ghana’s mineral resources for development.
However, with strong resistance from the Minority, led by Dr. Cassiel Ato Forson, the deal has since been suspended.
The government has however been making unsuccessful attempts to reintroduce it in parliament.
Ghana Premier League side, King Faisal Football Club has announced the signing of Nasiru Osman to strengthen the squad of the team.
The Kumasi-based club had a slow start to the season but has gradually picked up and looking to steadily climb the league standings.
Taking advantage of the January transfer window to strengthen the squad of the team, King Faisal has today confirmed the acquisition of the defender.
Nasiru Osman has joined the club from fellow Ghana Premier League side Berekum Chelsea.
“We are delighted to announce the signing of Nasiru Osman Ebla! The versatile defender joins on a permanent deal from Berekum Chelsea,” an official club statement from King Faisal said on Thursday,
Controversial slay queen, Deborah Adablah has put her spec of men out there in the heat of her case with Deacon Nimako.
The wild slay queen claims she is tired of sex and money and wants her man to invest in her intellectually.
According to her, money is a must – you should be well to do financially to qualify to be her partner. And apart from that, you should be able to invest in her intellectually.
Wild Deborah Adablah has said she is tired of men coming to the table with just money and s3x, she’s looking out for more. She should walk out of that relationship not with her head but with massive knowledge.
Her video comes after she sued her sugar daddy (married man) over refusal to take care of her.
Additionally, SOEs must work with the State and Interest and Governance Authority, SIGA, to check for and eventually clear out all backlogs of audits for specific agencies.
She pleaded with the CEOs to always keep the Assets Register and Land Titles current.
The Chief of Staff made the point in Accra while she received from SIGA and the Ghana Audit Service the Joint Report Technical Report on the 2021 Audit Infractions, for onward transmission to President Akufo Addo.
The report came on the heels of a directive by President Akufo Addo after he held a meeting with Boards Chairpersons and CEOs of Specified Entities on October 3, 2022, where he charged SIGA and the Attorney General, AG’s Office to investigate the cause of the infractions of Entities cited in the 2021 Audit Report and make recommendations per the law.
Infractions amounting to 17.4 billion Cedis were flagged by the Auditor-General in its latest report.
He disclosed that SIGA intends to work with Governing Bodies of Specified Entities to develop asset revaluation policies for best practices in accounting.
The Minister for Public Enterprises, Joseph Cudjoe, Deputy Auditor General, Godfred Addison, Frank Mante of the Public Procurement Authority, Mac-Effort Adadey of the Controller and Accountant General’s Department among others were present at the presentation of the Joint Committee Report on the 2021 Audit Infractions.
Chief of Staff, Akosua Frema Osei-Opare, and Ambassador Edward Boateng, Director General of SIGA later held a closed-door meeting with the CEOs and the Monitoring Agencies to chart the way forward.
Government hints of possible sanctions meted out to non-compliant Specified Entities
A young man believed to be in his 30s popularly known as “Candy” has been butchered to death by a gang at Krofrom in the Ashanti regional Capital, Kumasi.
The unfortunate incident occurred at about 6:30 pm on Wednesday, January 25, 2023 according to the Presiding member of the Kumasi Metropolitan Assembly (KMA).
Patrick Kwame Frimpong, Assembly member for the Krofrom East Electoral area in an interview with EIB said the victim was butchered multiple times by the gang sustaining deep cutlass wounds.
The victim was rushed to a private hospital in Krofrom and later referred to the Komfo Anokye Teaching Hospital (KATH) before being confirmed dead by the medics.
The KMA Presiding member said the gang allegedly attacked and killed “Candy” in retaliation for his involvement in an attack on their colleague exactly a year ago yesterday.
He described the deceased as a troublesome “gagster” who was nuisance to the community.
The police have arrested two of the gang members believed to have murdered the young man. The suspects are currently in police custody assisting investigations ‘’ he disclosed.
The lifeless body of the deceased has been deposited at the Komfo Anokye Teaching Hospital morgue for autopsy and subsequent preservation.
Burnley confirmed on social media the signing of South African international Lyle Foster, who came from Westerlo. However, what caught the eye most was the way it was announced, as the club used a scene from Shrek to get the message out.
The English sides are the ones who are leading this January transfer market. After big spenders from the Premier League, with Chelsea leading the way, this has also encouraged deals to be done in the Championship.
Now, leadersBurnley have announced the arrival of South African internationalLyle Foster. The footballer left Belgian football and his Westerlo side to join the British outfit. However, what was the most interesting was the way they announced it.
The club posted a video in which they edited a dialogue from Shrek, which shows three players lined up in mirrors, with one about to be picked. Apart from Foster, the one who ended up being chosen, Messi and Ronaldo were also there but the film’s character rejected them.
“From the moment I heard Burnley were interested, my head and heart were here at the club. I’m so happy to be here now. It’s a dream for me“, the player said in an official club statement.
The African Continental Free Trade Area (AfCFTA) offers economic integration; therefore, its success will be the collective triumph of the African continent, according to Gabby Asare Otchere-Darko, the founder and chairman of the Africa Prosperity Network.
Africans, according to Otchere-Darko, must make every effort to fulfill the objectives of the AfCFTA.
He added, “Its [AfCFTA’s] success is our success,” at the beginning of the inaugural Africa Prosperity Dialogues at the Safari Valley Resort in Adukrom in the Eastern Region. If it succeeds, it will greatly expand trade and investments, create jobs, and bring unprecedented prosperity to the entire continent.
“But, in order for it to work and work for us, the workings of the AfCFTA must be seen and felt from this onset to be for the people of Africa. For our collective ownership and shared benefit, it must be owned by businesses in Africa,” Otchere-Darko said.
Meanwhile, the executive director of the Africa Prosperity Network (APN), Dr Eugene Owusu, welcoming the participants said, “The game-changer [in the development of Africa] will be the speed and scope of AfCFTA. The next two days must not be a celebration but a call to action.”
“It is truly heartwarming to see this assembly of eminent business and policy leaders from across the continent come together around the AfCFTA and to do so with such enthusiasm and vitality.
He said, “The Africa Prosperity Dialogues series have been established as a convening platform for Africa political and business leaders to set and push initiatives to transform Africa with the overarching objectives of achieving prosperity across the continent through in particular enhanced economic cooperation, deeper trade and integration and accelerating impact investment.”
“There is no doubt that this maiden Africa Prosperity Dialogue is taking place against the backdrop of immersed challenges that confront our continent but also exciting opportunities that our continent has to transform itself,” Dr Owusu added.
The maiden series of the Africa Prosperity Dialogues kicked off on Thursday (26 January) and will end on Saturday (28 January). The serial event, also dubbed the Kwahu Summit, involves captains of industry, entrepreneurs, economists, bankers and other business leaders in Africa taking part in three days of discussion about what needs to be done next to expand trade and wealth creation across the continent.
The Africa Prosperity Dialogues is a strategic platform where movers and shakers in the African economy will elevate the objectives of the African Continental Free Trade Agreement (AfCFTA) from ambition to real action.
The summit will be a focused event where African leaders from diverse areas of national endeavour will gather each year to discuss and share experiences on initiatives required for Africa to achieve the goal of shared prosperity and to review the Africa Agenda for Action.
The family of a 44-year-old woman who was allegedly physically assaulted by her husband, a National Security operative, is calling on the Inspector General of Police to come to their aid to ensure that the man is prosecuted.
The woman, Habiba Halid, who is now seeking refuge in her family house at Ablekuma Oduman, explained in an interview with GhOne TV that her husband, Ibrahim Mohammed, alias Figo, beat her up because she was chatting with an online friend.
She explained that on the day she was assaulted (January 20, 2023), the man walked in on her having a chat on her phone with the said friend on Facebook.
Confronted, she told him that the person she was chatting with was only a friend she knows on the microblogging site and that he was not even in the country.
She continued that he actually followed up to chat with the person to confirm but he returned not convinced by the answers he received.
Habiba, a mother of 4, added that her husband then threatened her life.
“I’m feeling pains all over my body and my head. My teeth; I can’t chew food properly. I have never cheated on him since we got married; I have never. He was even asking, who is that friend and where did I meet him? I said I just met him on Facebook. And he asked me where is the friend living and I said the friend is not even in Ghana; he’s just a friend.
“And he confronted the guy and the guy told him that we are just friends. He used a knife to threaten me too, so, he said I should pack my things if I don’t want to be dead in his house,” she narrated.
According to Habiba, who currently has blood clots in both eyes and on her left shoulder following the severe punching her husband, Ibrahim Mohammed, gave her, the assault started long before their marriage 10 years ago.
She also accused him of insecurity and non-communication, adding that this compelled her to fall on friends on social media for companionship.
“Men used to approach me and so he got jealous and then he started doing those things. Even before this one happened, he used to beat me… when people wanted to help me, he scared them away,” she added.
On the part of her family, where she is currently seeking refuge at, they want the law to take its course.
They appealed that the police will come in and ensure that they get justice for their sister and relative.
“Right now, we are only pleading with the IGP; we want him to intervene for us because we don’t know what is going to happen,” one of her relatives told GhOne TV.
The matter has since been reported to the Amasaman branch of the Domestic Violence and Victim Support Unit (DOVVSU) of the Ghana Police Service for legal action.
Participating agencies include the Minerals Commission, Precious Minerals Marketing Company, Minerals Development Fund, Ghana Integrated Iron and Steel Development Corporation, Ghana Survey Authority, and Ghana Integrated Aluminium Development Corporation.
Every head of agency is supposed to make a presentation on his/her Action Plan for the year and outline measures put in place to achieving them.
The retreat will enable the heads to take stock of the previous year’s activities and engage in in-depth discussions on issues pertaining to their sectors, challenges and prospects.
The feedback received would feed into the Ministry’s main retreat slated at the end of the first quarter of the year.
The Deputy Minister said the platform would allow the heads to fine-tune the key performance indicators set for them and help them to meet targets.
He, therefore, entreated them to work closely with one another to achieve the Ministry’s objectives.
Professor Peter Agbesinyale, the Chief Director of the Ministry, urged the agencies to work towards improving upon last year’s performance and meet their targets for this year.
Rapper Medikal has risen to the defence of president Nana Addo Dankwa Akufo-Addo who he believes is doing his best to salvage the country’s economic crisis.
According to Medikal, he is slow to judge or rebuke president Akufo-Addo because “he is somebody’s father” adding that “maybe he’s trying his best to solve the crisis but things are not that easy on his side.”
In an interview with Abeiku Santana in January 2023, the ‘Omo ada’ hit-maker mentioned that although he has been equally effected by the current economic crisis, he (Medikal) will not be quick to cast all the blame on the country’s leadership.
“I am equally faced with the hardship in this country but I feel like, I am not sure the president is happy with how things are going. I feel he can do better but maybe he’s trying his best to solve the crisis but things are not that easy on his side.
“I feel like the president is indeed not happy about how things are going. It is not the case that I am also not feeling the heat or witnessing what Ghanaians are going through. I see that but I don’t think the president is wicked or evil at heart to watch his people suffer,” he explained.
Medikal however, gave reasons why he hasn’t joined the tall list of celebrities to criticize the ‘poor performance’ of the current government.
“I won’t condemn him because he is somebody’s father and I won’t go condemning him and asking why he’s not doing this or that. For all you know, he is really trying his best…they will tell you that it is an economic crisis. That is beyond you and me, we can’t do nothing about it,” he disclosed in the interview monitored by GhanaWeb.
The Lands Ministry of the government has been defending the Adenta Amrahia Dairy Farmlands from encroachers.
The Ministry is making progress by working with different families to make sure that the lands are transferred to the pre-acquisition owners in a peaceful and legal manner.
Despite these efforts, some unscrupulous individuals have been erecting unauthorised structures on the land with impunity.
In view of that, Owusu-Bio tasked the Divisional Police Command to ensure that there was no further encroachment on the lands until it was handed over to the rightful owners.
“Get bulldozers and demolish all these walls as soon as possible,” the Deputy Lands Minister told the Divisional Police Commander.
Owusu-Bio gave the directives when he paid a working visit to the Amrahia Dairy Farmlands in the Adenta-Nkwantanang Municipality on Wednesday, to inspect the progress of work in demarcating the Lands and hand them over to the rightful owners.
He urged the Police to protect the surveyors who would demarcate portions of the lands and ensure that no intruder or land guards distract their work.
Owusu-Bio also instructed the surveyors to commence work as soon as practicable and mount up boundary pillars to properly demarcate the lands, urging them to involve the various families to ensure peaceful work and transparency.
“Make sure that all pillars mounted are coloured to bring clarity of ownership and boundaries, so that “Family A” does not end up working into “Family B” lands,” the Deputy Minister said.
The Adenta Divisional Police Commander, Mr Abraham Acquaye, on his part, assured the Deputy Minister that the Police would commence work, and re-assemble the Chiefs to inform them once again about the final leg of creating land boundaries.
Maxwell Adu-Nsarfoa, Technical Director at the Lands Ministry, took the Police Commander through the map, showing him the areas that would be demarcated and boundaries to serve as a guideline for their work.
“The surveyor will provide the route for the boundaries and provide bulldozers to open up the boundaries after which the pillars will be mounted to give way for smooth operations,” he stated.
The Technical Director stated that the government had not officially handed over any portion of the lands to any family and, therefore, after the demarcation exercise, anyone who tried to claim ownership of the lands would be treated as an intruder and dealt with accordingly.
He claims that the purpose of this gathering is to accelerate the implementation of the African Continental Free Trade Agreement through a solution-driven approach.
He claimed that, regrettably, the story of this stunning continent has been one of poverty, conflict, bad government, corruption, and underdevelopment in the majority of the globe.
“The time has come for Africa and Africans to define our own narrative. We cannot allow poverty and underdevelopment to be the destiny of Africa, a continent so blessed with every natural resource imaginable – oil, gas, minerals, and sunshine.”
“We have approximately 65% of all available arable land available to feed 9 billion people globally by 2050 and we are home to the most youthful population in the world.”
“We have everything we need to transform Africa into a global powerhouse of the future,” he said.
This, he said is largely due to the “colonial” economic model characterised by small individual economies, fragmented and disconnected regional markets, over-reliance and low productive capacities that we have practised for 60 years.
“As growing economies, we often struggle to attract much-needed investments.
“However, with the collaborated strength from all 55 Member States, we have a population of 1.2 billion, the majority of whom are young, and a GDP of US$ 2.5 trillion, making Africa the eighth (8th) largest economy in the world,” he said.
He noted that this positions Africa as an attractive investment destination. “With the right investment, we will be able to sustain economic growth and create the job opportunities that the continent desperately needs,” he added.
The Vice President admitted that AfCFTA is a real game-changer, and once fully realised: “We can increase intra-African trade by some US$ 35 billion and reduce external imports by some US$ 10 billion annually.
“This will mean more opportunities for growth for our small businesses and the potential to lift more than three million people out of poverty.”
He made this call at the Kwahu Summit ongoing at the Safari Valley in the Eastern Region.
He explained that like the vision of our forebears, the African Continental Free Trade Area has set the stage for Africa’s industrialisation drive, but, it will take concrete, strategic actions by governments and businesses on the continent, the right mix of policies, a greater sense of purpose for more robust intra-African trade to happen to support economic diversification and the much-needed industrialisation of the continent.
To bring about the transformation needed, he proposed three broad areas that need to be prioritised.
First is the need for smart investments in critical infrastructure. “As a continent, we need to produce and trade our way out of poverty and underdevelopment, and we cannot do that without investing in smart infrastructure across the continent.
“While the last decades have seen some positive investments, there is the need for additional resources to finance the ‘arteries for trade’, which include the physical infrastructure such as roads, rail, and energy; digital infrastructure such as data centres to facilitate the digital transformation and financial infrastructure to allow for integrated financial markets.
“These investments will be critical to delivering the success of the AfCFTA.”
The second is to unleash productive capacities across the continent.
With that Dr Bawumia explained that “We must create platforms for knowledge brokerage and access to information on critical products and services on the continent to allow 445 million small businesses across the continent to plug into the value chains of these mega industries.”
For his part, the founder and Chairman of Africa Prosperity Network, the organisers of the Africa Prosperity Dialogues, Mr Gabby Otchere-Darko thanked all the participants for choosing to be part of this historic gathering.
According to him, this is historic because Africa is creating the right environment for the private sector to join forces to assert a leading voice and play the leadership role in how best and how fast the continent can build and drive a vibrant, single market in Africa and for the shared prosperity of Africa’s nearly 1.4 billion citizens.
He revealed that next month, Africa’s political leaders will once again meet in Addis Ababa, to talk about the continent’s common destiny.
“Our voices here in Adukrom should resonate in Ethiopia. This year, incidentally, marks the 60th anniversary of the Organisation of African Unity, which was set up to promote the unity and solidarity of the African States.”
Nigerian actress and PDP deputy governorship candidate in Lagos State, Funke Akindele, was allegedly chased out of the Ikosi market while campaigning.
She was said to have been chased out of the fruit market by a group of people suspected to be thugs on Tuesday, January 24, 2023.
The PDP governorship candidate, Abdul-Azeez Adediran, aka Jandor, stated during an interview with NAN, that their campaign was cut short due to the unfortunate incident.
Jandor also revealed that a security team member was stabbed while others, including journalists, were injured.
PDP Lagos spokesperson, Hakeem Amode, has also alleged that the local government chairperson sent the hoodlums to disrupt their campaign.
He said: “Usually when we go to the market, Funke Akindele goes to the market to speak with the Market women, and we know it is our right to be able to talk freely, a campaign to anybody
“The local government chairperson came into the market, used her car to block and brought a bunch of thugs to attack us in Kosofe local government, which is very, very sad; it is unbelievable we are not allowed to speak to people freely.
“Under the new electoral act, we are free to campaign anywhere; this is Lagos, where we should be able to talk to everybody without intimidation or discrimination. That should not even happen.”
Experts who made this judgment claim that it has become important given the ratio of external to domestic debt because the economy could further deteriorate if the nation does not advocate for a cancellation or better restructuring plan to decrease the DDEP burden.
“I think the domestic sector debt is 42 percent while external debt is 58 percent, which is substantial. I think the government’s attention should be more toward seeking a better deal on the international side while managing the situation domestically; because if we get the domestic one wrong, whatever deal we get externally will not be enough to turn things around,” Tax and Fiscal policy Expert Dr Alex Ampaabeng said.
For the Country Director of ActionAid Ghana, John Nkaw, the call is to ensure the less privileged are not unjustly affected by the economic crisis.
“ActionAid views the call for debt cancellation as a rights issue. The resource-poor people in hard-to-reach communities who are already facing the harsh economic impacts should not be unjustly further impacted because of a collective decision by the country,” he said.
They made these remarks at ActionAid’s virtual discussion that came at the back of a Ghanaian group of civil society organisations’ concerns, calling on international lenders to cancel some of the country’s debt to make it sustainable.
While the experts – including Vitus Azeem, a tax justice and anti-corruption campaigner, and Bernard Anaba, a policy analyst at Integrated Social Development Centre (ISODEC) – side with the call and spell out other options, they hold that it is about time the country took up the responsibility to stay financially prudent.
Dr Alex Ampaabeng said loopholes such as poor revenue performance, mismanagement and high expenditure must be sealed to reduce the frequent rate at which the country finds itself in debt, and also to sustain the economy.
“We are here because of low revenue performance. Crucially, areas that should generate the needed revenue, the government is not tackling. Tax exemptions have been skyrocketing. By the IMF’s estimation, Ghana loses four to five percent of its GDP in tax exemptions. That is equivalent to about US$ 3 billion to US$ 4 billion every year.
“Property taxation is key, but the government still does not have a better way of raising revenue through properties. The government even went ahead to cancel road tolls when the country was heading toward danger. Also, we are in 2023 and economic activities have been digitalised – but what has been the government’s approach on taxing digital companies as is being done by other countries?” he lamented.
The experts are of the view that priorities must be given to key sectors of the economy to ensure that such are not deprived of the resources needed to thrive and to also protect the vulnerable in society. They also reiterated the need to cut down the size of government through reshuffling or merging to reduce public expenditure.
Stonebwoy, a celebrated Ghanaian dancehall artiste, has made an astonishing revelation about how Asamoah Gyan paid for his surgery in Germany seven years ago.
On May 7, 2016, Stonebwoy, originally known as Livingstone Etse Satekla, underwent knee surgery in Germany to correct an anomaly that left him limping.
The Bhim Nation president had to undergo surgery on his knee to correct the abnormality, and it was the Black Stars’ all-time top scorer, Asamoah Gyan, who came through for the musician.
On the seventh anniversary of his treatment, the 2015 BET Awards winner took to social media to thank Asamoah Gyan for covering his surgery costs.
“Asamoah Gyan, you came through for me around this same time 7 years ago. You decided to take my surgery cost, I’m forever Grateful,” Stonebwoy tweeted.
Asamoah Gyan who was also shocked replied saying, “Oh woooow. 7 years already? I’m happy to be part of this. It’s all from the heart.”
According to Stonebwoy, he will never forget Asamoah Gyan’s kind gesture because it occurred five months after he lost his mother.
During his performance at Kwahu over the weekend, the ‘Top Skanka’ crooner was spotted having a knee bandage on before giving out an astonishing performance.
Stonebwoy’s right leg was left deformed after he was involved in an accident some 22 years ago. The same accident, according to reports, took away his twin brother’s life.
Despite the challenges, Stonebwoy has never allowed his condition to deny him the chance of living his dream as a musician.
Sixty members of Parliament on the Minority side on Wednesday rejected the decision by the National Executive of the National Democratic Congress (NDC) to change their leadership.
The MPs gave vim to their stance by appending their signatures to a petition seeking a reversal of the decision to remove Haruna Iddrisu, James Klutse Avedzi and Muntaka Mubarak from the party’s leadership in the House.
Ellembelle MP, Kofi Armah Buah is expected to replace James Klutse Avedzi as Deputy Minority Leader.
Kwame Agbodza becomes the Chief Whip for the opposition side and will be deputised by Banda MP, Ahmed Ibrahim and Ada legislator, Comfort Doyo Ghansah respectively.
But the sixty MPs disagree with the party leadership’s decision. thus have called for further consulation.
Its Executive Director Dr. John Kwakye explained that while savings of GH24billion per annum could be realized from a 10% expenditure cut across the medium-term budget – from 2023 to 2026 – which is estimated to range between GH191billion and GH285billion, a similar value could be saved with targetted spending in specific areas. The report was anchored on fiscal measures – expenditure cuts and ambitious revenue mobilization as well as the need for burden sharing.
This will help government raise GH¢45billion every year between now and 2026, which will ensure the economy – particularly the financial sector – is spared from crippling shocks while providing the Treasury space to re-profile the nation’s debt.
While describing it as a “sensitive subject”, the Institute suggested that significant reductions in public sector compensations – projected at GH¢45billion in 2023 and rising to GH¢70.4billion by 2026 – could also provide much-needed fiscal space going forward.
“There is considerable room to reduce this item. However, it is not just about cutting pay – which may not even be enough in living or economic terms. There is need for a complete review of the system for public sector salaries, allowances, retirement benefits, etc. Doing so will foster fiscal and debt sustainability,” Dr. Kwakye noted.
In addition, the IEA recommended renegotiating Power Purchase Agreements (PPAs) with Independent Power Producers – targetting about half of the annual payments in the medium-term, which it says should save some GH¢12billion annually.
“Infrastructure is an essential item in the budget, given its large deficit in the country. However, in the current situation where government is struggling to pay its debt, it cannot at the same time afford the expense to deliver needed infrastructure,” the Institute noted; adding that infrastructure spending, if reduced by a third in the medium-term, could save as much as GH¢4.9billion yearly.
Other areas of focus to scale back expenditure include goods and services, energy sector debt transfers, the Office of Government Machinery and some flagship programmes.
Revenue mobilisation
While expenditure is being curtailed, revenue must also be enhanced as an added fiscal measure, the IEA noted.
Chief among them is a sweeping hike in the base tax rates for corporate entities, particularly those operating in the extractive, telecommunication and financial sectors; a move the IEA said would raise an additional GH¢15billion annually.
Reacting to concerns that such a move would overburden businesses already operating in a high inflation environment and possibly lead to the exodus of some well-established players, Dr. Kwakye insisted that current rates are among the lowest among the country’s competitors.
Other measures tabled include the introduction of an e-commerce levy to complement the electronic-levy, as well as enforcing laws on property taxes and tax exemptions.
A visiting Fellow at the IEA, Prof. Alexander Bilson Darku, emphasised that these proposals are meant to accompany the DDEP and not necessarily replace it.
He however noted that if the measures were implemented, they would allow for more favourable terms under the Programme: including shorter maturity periods for the new bonds and a new coupon regime of 8 to 12 percent, versus the current term which is capped at 10.65 percent.
“With the huge gains expected from the suggested fiscal measures, if they are implemented in full or even with partial implementation, it may render the gains projected under the DDEP not fully needed and a new version with less ‘haircut’ to bondholders could be introduced,” he opined.
The IEA’s recommendations are likely to find their way into discussions by the technical committee set up by Ministry of Finance, together with representatives from the Individual Bondholders Forum (IBF) to explore viable alternatives to the Programme’s existing terms.
The committee – formed after a meeting between the Finance Minister Ken Ofori Atta and leadership of the IBF on Wednesday, January 18, 2023 – is to, among other things, seek fiscal space in the 2023 budget to allow for exempting the most vulnerable classes of investors.
There has been a division among members of the group following a reshuffle of its leadership by the national executives of the National Democratic Congress NDC.
Speaking to journalists after a meeting with leadership of the NDC, the Minority Leader, Dr. Cassiel Ato Forson assured of a collaboration with the former leaders of the caucus to deliver on their mandate in Parliament.
“We have just come out of a very successful meeting with the leadership of the party. We are going to deliver on our mandate. ”
“And as has been agreed with the leadership of the party, there will be series of activities that will be undertaken beginning from today. We will have our maiden meeting with our leadership and the party leadership on Tuesday,” he added.
The NDC earlier this week replaced Minority Leader Haruna Iddrisu with Dr. Cassiel Ato Forson.
Emmanuel Armah-Kofi Buah, MP for Ellembelle also replaced Ketu North MP, James Klutse Avedzi as the Deputy Minority Leader while Kwame Governs Agbodza replaced Asawase MP, Muntaka Mubarak as the Minority Chief Whip.
Several NDC MPs including MP for Bolgatanga East, Dominic Ayine, and Tamale Central MP, Murtala Muhammed later described the leadership changes as undemocratic and deeply worrying, after they claimed they were not consulted prior to the change.
Some 44 MPs signed a petition to reject the decision of the party. The 44 members believe the decision by the party is unfair and unpopular.
However, some 77 MPs have also reportedly signed a different petition to endorse the decision of the party.
As compared to yesterday’s trading of a buying price of 10.3998 and a selling price of 10.4102. At a forex bureau in Accra, the dollar is being bought at a rate of 12.30 and sold at a rate of 12.90.
Against the Pound Sterling, the Cedi is trading at a buying price of 12.8645 and a selling price of 12.8785 as compared to yesterday’s trading of a buying price of 12.8042 and a selling price of 12.8181.
The Euro is trading at a buying price of 11.3464 and a selling price of 11.3567 as compared to yesterday’s trading of a buying price of 11.3102 and a selling price of 11.3204.
At a forex bureau in Accra, Euro is being bought at a rate of 12.55 and sold at a rate of 13.55.
The South African Rand is trading at a buying price of 0.6062 and a selling price of 0.6068 as compared to yesterday’s trading of a buying price of 0.6037 and a selling price of 0.6041.
At a forex bureau in Accra, South African Rand is being bought at a rate of 0.50 and sold at a rate of 1.10.
The Nigerian Naira is trading at a buying price of 44.2595 and a selling price of 44.3354 as compared to yesterday’s trading at a buying price of 44.2979 and a selling price of 44.3479.
At a forex bureau in Accra, Nigerian Naira is being bought at a rate of 14.50 Naira for every 1 Cedi and sold at a rate of 19.50.
Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.
Dr Ato Forson on Thursday promised to do everything within his power to unite the caucus before he eventually assumes his position on February 7 when Parliament resumes from recess.
But addressing the press on Thursday, Muntaka Mubarak said the new leadership should be patient and allow consultations to take place between the minority caucus and the party executives.
Muntaka also revealed that discussions between the former Minority Leader, Haruna Iddrisu and newly appointed Minority Leader, Cassiel Ato Forson were not fruitful.
His comment contradicts claims by Dr Ato Forson who said on Thursday that he had held fruitful discussions with his former leader following his appointment by the party.
According to Muntaka, the Tamale South MP was “irritated” during the said meeting and outlined certain measures that needed to be taken which Muntaka claims were ignored by the MP for Ajumako-Enyam-Essiam.’
“I can tell you that the meeting was not fruitful. He mentioned some measures that they had to take, but that was not done. I can tell you that he was irritated at the meeting,” Muntaka said during a press conference on Thursday.
He also admonished the new leadership not to be in a hurry to assume their position but rather ensure that the necessary consultations are held between the NDC and the Minority caucus.
Some NDC MPs have petitioned the party leadership over recent changes on their front bench in the lawmaking house.
The legislators believe the reshuffling is premature and does not augur well for the opposition party going into the next elections given the lack of consultation.
Addressing the media on Thursday, January 26, 2023, at the behest of the NDC parliamentarians, MP for Zebilla East and former Majority Leader, Cletus Apul Avoka stressed that only a decision arrived at after broad deliberations will be accepted.
“The basis for our prayer is that the party suspends the reshuffling as indicated by the General Secretary until such a time that a holistic meeting of stakeholders with consultations before a decision is taken.”
“It is on this backdrop that the national executives of the party a few weeks ago decided that all appointees in the party and parliament should remain in office after we conclude the parliamentary and presidential primaries. We are therefore surprised that the reshuffling is reaching the caucus in Parliament. We think that this is premature.”
The Member of Parliament for Zebila, Cletus Avoka, has stated that technically, Haruna Iddrisu is still the Minority Leader.
He explained that since parliament is not currently in session, any new move that indicates that there is a new takeover cannot be in play, making it untenable that a new person has taken over.
Speaking alongside the MP for Asawase, Mohammed-Mubarak Muntaka, who has been ousted as the Minority Chief Whip, at a press conference to react to the new decision of the National Democratic Congress (NDC), he explained that since parliament isn’t in session, it makes that new decision a murky one.
On Tuesday, January 24, 2022, the NDC sent a letter signed by its General Secretary, Asiedu Nketiah, to the Speaker of Parliament, announcing a major shakeup in its leadership in parliament.
In the letter, the party named Dr. Cassiel Ato Forson as the new minority, to be deputised by Emmanuel Armah Kofi Buah.
The new Minority Chief Whip has been named Kwame Governs Agbodza, while the two Deputy Chief Whips: Ahmed Ibrahim and Comfort Doyoe Cudjoe-Ghansah, were retained.
With a net worth of $11.9 billion, according to the Bloomberg Billionaires Index, Smith is the richest Black billionaire in the United States, and the second-wealthiest Black person in the world, trailing Africa’s richest man Aliko Dangote who is presently worth $19 billion.
In the past year, Smith’s net worth has increased by $2.95 billion, from $8.9 billion on Jan. 25, 2022, to $11.9 billion at the time of this report, making him the 162nd richest man in the world according to data retrieved by Billionaires.Africa.
His $11.9-billion fortune is made up of his 50-percent stake in Vista Equity Partners, which is valued at $3.9 billion, and another $8 billion from his personal assets in the private equity firm.
With more than $50 billion in assets and a yearly return of 22 percent since its inception in 2000, Vista Equity Partners has quickly grown into an industry leader and is one of the most active private equity investors in the technology sector.
Under Smith’s leadership, the firm continues to leverage its cash holdings and the recent decrease in the valuation of technology companies to take up stakes in companies with enormous economic potential.
In the first half of 2022, Vista Equity added 11 new portfolio companies and closed 18 add-on transactions across its Flagship, Foundation, Endeavor, and Perennial funds.
Recently, Vista Equity entered into a definitive agreement to acquire Duck Creek Technologies, an innovative provider of intelligent solutions for the property and casualty insurance industry.
The all-cash transaction is valued at $2.6 billion and will see Duck Creek shareholders receive $19 per share, representing a 46-percent premium to Duck Creek’s closing stock price on Jan. 6, 2023, the last full trading day prior to the transaction announcement.
Smith’s success and net worth are a testament to his strategic investments in software and technology companies through Vista Equity Partners. He continues to prove his worth in the industry and is a shining example of the potential for wealth creation in the technology sector.
The Domestic Debt Exchange Programme (DDEP) extension expectedly provided some holders with an opportunity to rebalance their portfolios, as well as allow investors time to decide whether or not to participate in the Programme.
Instructively, investors’ preferences shifted toward short and long-term papers – with February 2023 coupons of 16.50 percent being actively traded and settling at 46.97 percent, while August- 2039 with coupons of 20.20 percent cleared at 42.12 percent.
As the Debt Exchange Programme deadline draws near, market activity is expected to be muted this week as investor mull over participation in the market. This will be dependent on government’s updated memorandum for the DDEP. The upcoming deadline will also be a key factor to watch as the market continues to evolve.
Despite this, the market appears to be optimistic about the future as investors continue to show interest in long-term papers.
In order to help the country obtain US$3billion in economic aid from the International Monetary Fund, government aims to have 80 percent of investors participate in the DDEP.
Through the Paris Club – a group of creditor nations, the Treasury is corresponding with bilateral creditors as well; in an effort to secure a restructuring agreement before the end of February. Members of the Paris Club have agreed to set up a committee of creditors to talk about debt-relief options for Ghana.
S&P downgraded Ghana’s Eurobond for January 2026 from CC to D [selected default] – since government did not pay the coupon due on January 18 as a result of the nation’s decision to stop making interest payments on its external debt last month. Ghana failed to pay the required US$40.63million in interest on the January 2026 maturity.
Uncertainty strains risk appetite in primary market
The Treasury fell short of its auction target last week, with investors tendering only GH¢1.93billion across the 91 to 364-day bills – missing the target size of GH¢2.42billion. This resulted in a deficit of 20 percent.
The total bids accepted were insufficient to cover the GH¢2.22billion worth of bills that matured on Monday, January 23, 2023 – resulting in a deficit of 13 percent.
Uncertainty surrounding the Debt Exchange Programme appears to have strained risk-appetite on the market. Despite the Finance Minister’s reassurance that Treasury bills are excluded from the Programme, investors remain cautious.
Treasury yields were also erratic last week, with the 91-day bill surging by 17 basis points (bps) to 35.63 percent. In contrast, the 182 and 364-day bills fell by 2bps and 36bps to settle at 35.81 percent and 35.56 percent respectively.
The Treasury plans to raise a total amount of GH¢1.28billion across the 91- to 364-day bills next week, in order to refinance a sum of GH¢1.07billion in short-term papers due next week. The auction is scheduled for Friday, January 27, 2023.
The market anticipates that the Treasury will meet its target in the upcoming auction, given the smaller target size. However, a further downside in money market yields is expected.
The market continues to be uncertain and investors are keeping a close eye on developments, particularly regarding the controversial Debt Exchange Programme. Government’s efforts to reduce the country’s debt burden are commendable, but investors must also be mindful of the potential risks and uncertainties that come with it.
The next few weeks will be crucial in determining the primary market’s direction during the coming months.
According to him, the Minister of Energy declared the unitization under the Petroleum Exploration and Production Act 2016.
Speaking at a public lecture on Energy Transition at the University of Ghana’s 75th anniversary, he stated that, “the Afina discovery which has been made by Springfield, an indigenous Ghanaian company has been declared unitized by the Minister of Energy with ENI-Sankofa Gye Nyame field, pursuant to Section 34, sub-section 1 of the Petroleum Exploration and Production Act 2016.”
The Institute for Energy Security (IES), stated that “the country is likely to miss a huge opportunity to rake in billions of Dollars from the upstream petroleum sector” if the deal is prolonged.
The IES’ projection was due to the delay on the part of Eni Ghana Exploration and Production Limited (ENI) and Springfield E&P (Springfield) to cooperate, to unitise the Afina and Sankofa fields.
He also commended Springfield for being the first Ghanaian indigenous exploration company to make a discovery in oil and gas.
“This story proves that the Ghanaian can make it,” he added.
All the over 7,000 lockable shops in the market are connected by one meter.
The traders since the commissioning of the market for business have demanded that separate meters be provided for each store.
Some of the traders have shut down their stores as more of them are contemplating closing down due to what they describe as exorbitant electricity bills.
He said he had met with the market queens and their followers, the various trader’s associations, and also the Kumasi Mayor and his team as well as the Board of the market on the meter issue.
The Minister said he will be meeting with the Electricity Company of Ghana (ECG), the Ministry of Energy as well as other stakeholders to deliberate on the procurement of the meters.
Mr Botwe expressed confidence that the concerns of the traders regarding the individual meters will be resolved very soon as he works with the ECG to procure the meters.
The Former Minority Chief Whip, Muntaka Mubarak has revealed that the leadership of the National Democratic Congress (NDC) in Parliament was never consulted ahead of the changes in the frontbench.
At a press conference, the Asawase legislator insisted the assertions that there were comprehensive discussions ahead of the move are false.
Addressing journalists, he said, “at no such meeting was there any agenda to discuss this.”
“It is clear that it is a letter, yes, was written by the General Secretary but the decision may just be just the decision of a few people in the party,” he added.
The NDC reshuffled its leadership in Parliament by appointing Ajumako Enyam Essiam legislator, Dr Cassiel Ato Forson as the new Minority Leader.
In the shake-up, MP for Ketu North, James Klutse Avedzi, and the MP for Asawase, Muntaka Mubarak, lost their positions as Minority leader, Deputy Minority leader and Minority Chief Whip respectively.
They have been replaced by the MP for Ajumako-Enyam-Essiam, Dr. Cassiel Ato Forson, MP for Ellembelle, Emmanuel Kofi Buah and MP for Adaklu, Kwame Agbodza as Minority leader, Deputy Minority leader and Minority Chief Whip respectively.
But the development has not gone down well with Mr Muntaka despite a meeting scheduled for Tuesday, January 31, 2023, between the Minority and the party leadership to settle some differences.
“I heard some of the officers saying that some elders were sent to talk to us. I will be happy to be mentioned which elder was set to talk to me. Because nobody was sent to talk to me,” he narrated.
The MP was in the company of Zebilla East legislator, Cletus Avoka who described the new appointments as premature and demanded the suspension of same.
