This follows the arrest of eight community members for their roles in the destruction of non-indigenous people’s property at Mande in Buipe.
During the altercation, one individual was shot.
On Monday, January 16, 2023, the driver is said to have taken some protesters to the police station.
The youth, who were protesting the alleged enskinment of a chief, who is a non-indigene, in the suburb, also stomped the Palace of the Yagbonwura demanding the release of the persons who were arrested.
Calm has since been restored to the town, however, the youth have said if the Police go ahead with their alleged intention to arrest the Public Relations Officer (PRO) of the Gonjaland Youth Association, the worse may occur.
Accusing Mr. Twum Barimah Koranteng of “disintegrating, destroying, tearing apart and ravaging” Yilo Krobo, Nene Nanekey Terkpertey Ofori Agor IX at a press conference at Somanya on Sunday, January 15th, 2023 said the NPP first vice chairman was holding the people of Somanya hostage and thereby depriving the municipal of its much-needed development.
“He is really doing great harm to our land and people… he has labelled himself as Somanya champion and he is really misbehaving and infiltrating into very sensitive areas within Yilo Klo,” noted parts of a statement read by the chief at the press conference.”
Citing various incidents allegedly perpetrated by Mr. Barimah, Nene Agor accused the politician of being the mastermind behind an attack on the youth of Okperpiem on 15th November 2021 which led to four persons being injured.
He blamed the continuous acts of lawlessness on the Somanya police who have failed to act on the numerous complaints reported to them pertaining to these incidents.
Also accusing him of instigating clashes in some chieftaincy issues in Yilo Krobo despite not being an indigene of the area, Nene Agor said, “Twum Barimah Koranteng is the brain behind the Konor chieftaincy problems at Sra. He has money to sponsor the illegality and forcing his preferred choices on the unsuspecting people of Yilo Krobo as traditional leaders.”
According to him, some chiefs were dependent on the politician for survival and hence were aiding his deeds.
The traditional leader also called on indigenes of Yilo Krobo not to allow themselves to be divided by the actions of persons he called “outsiders”.
He also cautioned Mr. Twum Barimah “to send his activities out of Krobo chieftaincy problems,” and “stop infiltrating into places that he’s not needed.”
Nene Agor threatened to organize a demonstration against the politician if he did not put a stop to his illegitimate activities in the Okper area.
Mr. Twum Barimah Koranteng when contacted to respond to the allegations denied comment on the grounds that he had referred the issue to his legal team for advice and would respond at the appropriate time.
According to him, the public have the right to ask questions about the project because, 6 years after the construction of the project started and after using $30 million of public funds, they can only see a huge pit in the centre of Accra, citinewroom.com reports.
Heward-Mills, who is reported to have made these remarks in a letter he wrote to the Board of Trustees and Executive Director of the National Cathedral, added that Ghanaians deserve some answers to the questions they have raised.
“I am a firm believer in the president’s vision. I believe that the public can see and is questioning the fact that we have spent almost six years since the sod-cutting of this project as well as over $30m (thirty million dollars) of public funds, to excavate a massive pit in the centre of the city.
The pastor also raised some concerns about payments made to stakeholders involved in the cathedral project.
“Continuing to pay contractors $40,000 (forty thousand dollars) a month as we wait to procure a huge loan in this hostile atmosphere sounds dicey to me. I do believe that almost six years down the line, we need to look at a different approach to achieve our goal of building God’s house in Ghana,” he said.
He also said that the fund-raising methods used by the supervisors of the project did not yield much result, with some of the programmes organised to raise funds costing more than the monies raised.
“I suggest another form of fund-raising where we would be guaranteed more donations from denominations, churches, individuals, businessmen and corporate bodies. I would be happy to discuss these if the committee is interested in that,” he added.
Dr Addison explained when he appeared at the Public Accounts Committee (PAC) of Parliament that the cedi depreciation reflected the movement daily.
He said: “If there is additional demand for the cedis the currency will be restricted. The Central Bank cannot fix the exchange rate, it depends on what transactions have taken place…like payments to contractors.”
“Typically, that kind of payment can move the exchange rate because some of them immediately convert into foreign exchange. So, the exchange reflects a lot of day-to-day pressures in the economy,” he said.
Touching on the Gold for Oil policy introduced by the Government, Dr Addison said it would help avoid the pressure on the exchange rate from the private Oil Marketing firms.
Ghana on Monday, January 16, 2023, took delivery of the first consignment of the Gold for Oil deal reached with the United Arab Emirates.
While some members of the PAC expressed worry at the policy’s sustainability, Dr Addison urged them to be hopeful as “it is early days yet to conclude.”
The 40,000 metric tons of oil arrived at the Tema port on Sunday, January 15, 2023, according to the Ministry of Lands and Natural Resources.
The Energy Ministry, the Bulk Oil Storage, transportation, and Oil Marketing Companies are to formulate plans for its distribution and sale.
PAC commenced sittings on Monday, January 16, 2023, to examine the Auditor General’s report on public accounts of the government for the year 2020.
As part of their scheduled work, the Committee would also scrutinise the Auditor General’s report on public accounts of various Ministries, Departments, and Agencies during the sittings.
Further, the accounts of public boards, corporations, and other statutory institutions for the year 2020 would also be considered.
Proceedings of the almost two-week Sitting are expected to be concluded on Friday, January 27, 2023, according to a statement issued by the Public Affairs Directorate of Parliament and copied to the Ghana News Agency in Accra.
Ato Forson has also reiterated his call for the embattled minister to be removed and the economy handed to a more competent driver to steer the economic ship to a safe destination.
What Ato Forson said
“Every reckless driver is referred to as ‘driver banza’ in my local parlance … if you are in a car with such a driver, people get angry and demand that he descends so that another person takes control of the car and drive it to safety.
“Where we have gotten to, the finance minister is a reckless driver, he has taken this country to a point of no return, he has driven this country into a ditch.
Ofori-Atta had a challenging 2022 with the Minority Caucus demanding his resignation over the economic downturn.
Internally, a group of 80 plus New Patriotic Party (NPP) MPs publicly demanded his resignation over a similar demand, standing down after a presidential intervention.
A deal for him to present the 2023 budget and see out appropriation as well as to complete initial engagement with the IMF has elapsed, with the Majority Caucus hinting that they would soon approach the president to redeem a promise to act on Ofori-Atta.
Background
Ghana had a torrid 2022 amid an economic crisis that forced the government to seek an International Monetary Fund (IMF) facility at a time when the cedi was rapidly depreciating, inflation was galloping, and the government was faced with multiple downgrades by rating agencies.
The government has repeatedly blamed the crisis partly on the aftershocks of the COVID pandemic and the ongoing Russia-Ukraine war.
It has promised to turn around the economic fortunes of the country after sealing a staff-level agreement with the IMF late last year, with hopes that funds from the US$3 billion facility will be released early this year.
The government is hamstrung by hurdles as it attempts to secure a deal with its Domestic Debt Exchange programme.
Organized labour successfully fought off plans to include pensions in the DDE; now individual bondholders are also rejecting plans to include them.
Global business leader and Group Chief Executive Officer of Ethiopian Airlines, Mesfin Tasew Bekele, has confirmed his participation at the maiden Africa Prosperity Dialogues, which is being organised by the Africa Prosperity Network and its partners, including the African Continental Free Trade Area (AfCFTA) Secretariat and the Government of Ghana, the host nation.
Dubbed the Kwahu Summit, the first of these annual dialogues will take place from 26 to 28 January, 2023. Focusing on intra-Africa trade, the Africa Prosperity Dialogues bring together Africa’s political and business leaders to plan and work together on the all-important single market, the Africa Continental Free Trade Area (AfCFTA) project for the continent.
Confirming his participation via email, to organizers, Mr Mesfin Tasew Bekele said it is a delight for him to join such an important dialogue series aimed at fast-tracking the implementation of the Africa Continental Free Trade Area Agreement.
Ethiopia Airlines
Mr Mesfin Tasew Bekele leads an organization which aims to become the most competitive and leading aviation group in Africa by providing safe, market-driven and customer-focused passenger and cargo transport, aviation training, flight catering, MRO and ground services by 2025.
Additionally, Mr Tasew Bekele and his team at Ethiopia Airlines are on a mission “to ensure that Ethiopia Airlines becomes an airline of choice to its customers, employer of choice to its employees and an investment of choice to its Owner, and to contribute positively to the socio-economic development of Ethiopia in particular and the countries to which it operates in general by undertaking its corporate social responsibilities and providing vital global air connectivity.”
About Mesfin Tasew
Mr. Mesfin Tasew was appointed as the Group Chief Executive Officer of Ethiopian Airlines in March 2022. He joined Ethiopian in 1984 as Associate Engineer and progressed through the ladder and served in supervisorial and managerial positions in the Aircraft Maintenance and Engineering areas.
In 1997 and 1999, he was appointed as Director Operations & Technical Systems Support and Chief Information Officer, respectively. In 2006, he was appointed as Vice President of Maintenance and Engineering.
Mr Mesfin also served as Chief Operating Officer of Ethiopian Airlines from 2010 – 2021, and Chief Executive Officer of ASKY Airlines from April 2021 to March 2022.
Mr Mesfin also serves as a member of the International Air Transport Association (IATA) Board of Governors. He holds BSC and MSc Degrees in Electrical Engineering from Addis Ababa University. He also holds Master’s in Business Administration (MBA) from Open University in the UK.
A.P. dialogues
The Africa Prosperity Dialogues are symbolically dubbed the Kwahu Summit because the Kwahus of Ghana, the host nation, represent entrepreneurialship and trade and are known to support each other excel in business. Kwahu is also the highest elevation of habitable lands in Ghana.
The organisers of the Kwahu Summit aim to support through enhanced intra-Africa trade, the elevation of Africa and her people to the highest summit of human living, dignity and prosperity.
The 2023 Africa Prosperity Dialogues is the first of what will be an annual event and being organised by the Africa Prosperity Network (APN) and its partners, which include the Africa Continental Free Trade Area (AfCFTA) Secretariat located in Ghana, the Presidency of the Republic of Ghana (the host nation of AfCFTA).
The other partners are; United Nations Development Programme (Africa), the Africa Prosperity Fund, the Ghana Investments Promotion Centre (GIPC), the Economic Commission for Africa (ECA) and the Africa-America Institute.
The Summit will bring into practical focus the continent’s critical challenges and industrialisation priorities and advance aggressively the commercial and infrastructural interventions to achieve the vision of creating the largest single market in the world of some 1.4 billion Africans.
Summit venues
The Kwahu Summit is a Pan-African economic platform which brings together the great minds and might of Africa, both in Africa and the Diaspora, to think, plan and work together to expedite the implementation of the agreed initiatives within the AfCFTA and shape the Africa Agenda for Action.
The business and policy leaders’ dialogues which will take place on 26 – 27 January 2023, will be held at the Safari Valley Resort, in Adukrom, on the Akuapem Mountain.
On 28 January 2023, the Peduase Presidential Lodge in Aburi, Akuapem Mountain, will host the presidential and business executives’ dialogues.
Shakira has been keeping a mannequin resembling a witch on the balcony of her Barcelona, Spain home, facing in the direction of her neighbor, who happens to be her former mother-in-law, as reported by the New York Post.
The singer released a statement in June 2022, confirming her split from the international soccer star Gerard Piqué after over a decade together. “For the well-being of our children, who are our highest priority, we ask that you respect our privacy,” the message reads. “Thank you for your understanding.”
Shakira dropped the song “BZRP Music Session #53,” which appeared to address the aftermath of their fall out, including the fact that her ex-mother-in-law is still her neighbor. “You left me the in-laws as my neighbors / Media outlets at my door and in debt,” she sings in Spanish. “You thought you hurt me, but you made me stronger / Women don’t cry anymore, they cash in.”
According to the Spanish television show Más Vale Tarde, Piqué’s mother Montserrat Bernabeu had asked members of Shakira’s staff to turn the mannequin, but nothing has changed. It’s also been reported that “BZRP Music Session #53” has been blasting from her home on repeat.
🧙♀️🔊 Shakira has reportedly been listening to her BZRP session on a loop today, where there is also a witch on the balcony pointing at her ex-mother-in-law's house… pic.twitter.com/ZX2qXJG8lB
Piqué has publicly responded to a few of Shakira’s one-liners from her song. In response to her claim that he “traded a Ferrari for a [Renault] Twingo,” Pique was seen driving into work in a Twingo.
In Shakira’s latest song, she said her ex husband Pique traded in a Ferrari for a Twingo.
Treasury bills were left out of the debt swap program, which is thought to be the cause of the oversubscription.
On January 13, 2022, the government’s most recent auction raised more money than its goal of GH1,125 million.
The findings revealed that GH1.72 billion was accepted from the 91-day, 182-day, and 364-day bills, exceeding the stated target by GH588 million.
Out of the GH198.49 offered for the 182-day bill, everything was accepted at an interest rate of 35.83%, yielding GH1,478.84 at a 35.46% rate of interest.
For the 364-day T-bill, the government secured ¢43.34 million but accepted ¢36.08 million of the bids tendered. The interest rate for the instrument was however 35.91%.
As a result, SMEC International has begun to engage stakeholders in the areas and districts where the Volta Lake flows.
In order to do this, last Thursday, Mr. Charles Nornoo and Ms. Anita Djando of SMEC International Pty Ltd traveled to Ho to meet with the Regional Coordinating Directors and Planning Officers of the Districts.
On his part, the minister commended the VRA for that great initiative. SMEC International Pty Ltd is known for having expertise in road infrastructure and energy.
With its 70 years of experience in offering solutions to road infrastructural and energy projects, it is believed that it’s capable of developing a good master plan that can lead to the exploitation of the Volta Lake for the betterment of the citizens.
Veteran Nollywood actress, Mercy Johnson-Okojie has debunked rumours of being struck with cancer.
The renowned actress, who took to Instagram on Sunday, January 15, 2023, clarified the said rumours, whiles establishing that she only spoke of having a cancer scare.
According to Mercy Johnson, her earlier statement about having a cancer scare in a previous video was taken out of context.
Mercy however stressed that she only had problems with her thyroid, adding that she is doing much better now.
“Hi guys, Okay, so first and foremost, thank you so much for all of you who have been calling and sending messages and prayers, thank you. I do appreciate it so much but, I do not have cancer. I noticed that a clip from my TV show, Mercy’s menu, has been flying around and I think they cut the clip,” she stated.
Ghanaian musician, Okyeame Kwame, has celebrated a milestone with his wife cum manager, Annica Nsiah-Apau.
The rapper who has been married for fourteen years, took to social media to outline some of his wife’s habits that keeps their relationship evergreen and maintaining her physical appearance is one of them.
According to the ‘Made in Ghana’ hitmaker who hailed his wife in several other aspects, he identified that even after fourteen years, she is still attractive as ever.
Okyeame Kwame added that another trait he admires about his wife is her candid critiques, feedbacks and how she doesn’t hold back on her opinions about him.
More than 14 years of your life has been shared with me in the most intimate way. Though I am not the easiest person to love and live with, you have been the best friend and best lover. You have given up on your corporate dreams to manage my home. No! Our home.
You have been so dedicated to watching my back where I am completely blind and watch my front where my vision is blurred.You have stayed healthy for yourself and sexy for me at all times.
The reason why I run home every day is to beat on those drums whiles you move to that universal rhythm of love. You have assisted my vision with your laser focus and reminded me constantly of my promise to myself.
During days when I am selfish, you become myself and when I am selfless, you enjoy yourself. You are not afraid to disagree with me and insist on the right thing till it’s done. You are obviously my eye within my eyes because of your honest reviews of my actions and inactions.
Due to your devotion to me, I am free to love myself without the fear of judgement. I feel great within myself but I feel sweet within your love.
We are growing ooooo. I can’t believe it’s been 14 years of difficult perfection. Love you my best friend . Pls , feel free to be you because which ever you you become, I will love you. Try me.
Tomorrow is not promised but I promise I will love u no matter what happens. Happy anni-versarry my sexy bestie @mrsokyeame
According to its 10-point advocacy platform, TAGG has advised the government to start using coupons to pay the nation’s craftsmen.
According to TAGG, this will broaden the tax base and give the government more chances to raise money for development.
The president of TAGG, Kwadwo Amoateng, made this suggestion while speaking about the high cost of commodities and the cost of doing business in the country on Ghana Yesnsom hosted by Odehyeeba Kofi Essuman on Accra 100.5 FM on Tuesday, January 17, 2023.
He said the coupon for payment if introduced at the various post offices across the country, just like how postcards are sold, will help in widening the tax net.
He said the coupons, if introduced, will rope in all those in the property industry, obliging them by law, to purchase the said coupons to use them as a form of payment to artisans such as carpenters, masons, among others.
He explained that the coupons will be in various cedi denominations for purchase.
“All those who intend venturing into the built industry may have to purchase these coupons and use them as a form of payment to the artisans working for them,” he said.
He noted that after the close of the day, the artisans would be expected to present their coupons to the banks for cash where their Pay As You Earn (PAYE) is deducted at source.
As a way of incentivising property owners for purchasing the coupons, he said the coupon receipts will be used by the property owner to secure a rebate on his or her property rate to be paid to the government.
He argued that this is a smart way of widening the tax net compared to the usual increments in Value Added Tax (VAT) and increasing taxes at the port of entry.
The first consignment of petroleum products delivered under the Government’s Gold for Oil Policy can serve consumers between 10 to 15 days, the Bulk Oil Storage and Transportation Company (BOST) has said.
Marlick Adjei, Head of Communications, BOST, told the GNA that the Company was in the process of completing the necessary protocols to begin discharging the products into its tanks for onward sale to Bulk Distributing Companies (BDCs).
The Government announced the Gold for Oil Policy in November last year as an innovative measure to exchange gold for petroleum products instead of US Dollars.
The Government said the move was intended to reduce the demand for dollars for the importation of petroleum products and by extension reduce the rate of depreciation of the Cedi.
It is estimated that the country required about $400m to import petroleum products monthly.
He said the about 41,000 metric tonnes of petroleum products would serve the country for about two weeks.
“We are assuring Ghana that as and when our projections and mathematics favor the country, the needed consignments shall be arranged and shall be shipped.
“As we come through with the volumes, we expect that in the next couple of weeks, the next ticket shall be also sailing through,” he said.
Asked if the arrival of the first consignment would affect prices at the pumps, Mr Adjei said that would be difficult to determine now.
He said the main goal of the Policy was to ease the pressure on demand for the Dollar, which in turn would help to reduce the depreciation of the Cedi.
“The ex-pump price of petroleum products is the function of the cost of the product, the transportation element and the exchange rate between the Cedi and the Dollar; so anything thing that drives down the exchange rate is most likely to affect the price we will pay at the pumps,” he said.
Meanwhile, the Institute for Energy Security (IES) has indicated that the Gold for Oil deal would not lead to a reduction in prices of petroleum products at the pumps if the Cedi failed to appreciate against the Dollar.
Fritz Moses, Research Analyst, IES, said the Cedi in the last two weeks alone depreciated by about 10 percent against the Dollar.
He said the arrival of the first consignment of petroleum products under the Gold for Oil Policy would not reflect in prices because oil marketing companies would price their products based on the exchange rate.
“Those volumes (of petroleum products) arrived just a few days ago and OMCs are already in contract with the BDCs to deliver products up to a point in time.
“So if the new products hit the market and the Cedi continues to depreciate like we are seeing in the current pricing window, then it will not reflect in prices at the pumps,” Moses said.
Popular music executive, Don Jazzy, has asserted that there are only four trustworthy men in the entire world.
The Mavin Boss made this statement while touching on faithfulness in marriages during a recent podcast with media personality Nedu.
According to Don Jazzy, the majority of his male friends who cheat on their wives do not even consider the possibility that their wives could also be unfaithful to them.
Although he did not mention names, the popular sound engineer stated that he knows four guys in the world who are true to their spouses and that every other man cheats.
However, the 40-year-old musician pointed out that there are many levels of infidelity adding that some men cheat while treating their spouses with utmost respect and respectability.
Meanwhile, Don Jazzy earlier stated that he cannot be committed to one woman.
Don Jazzy claimed that although things might change once he locates his lost rib, he can’t stay committed to just one woman in the meantime.
“I wouldn’t be able to process the fact that if I like this person, every other person should go to hell. As at now, in my life, when that butterfly hits me like it hits you people when you fall in love, maybe I will then say every other person is f*cked up and this is who I like,” he said
Member of Parliament for MP Muntaka has petitioned the NDC Ashanti leadership and the police over some allegations made by the new party Chairman of the constituency against him.
On Friday January 13, the chairman of the National Democratic Congress (NDC) in the Asawase constituency of the Ashanti region, Faisal Dauda, at a press conference, alleged that the Member of Parliament, Muntaka Mubarak wants him dead.
According to him, the Asawase MP hired thugs to gun him down due to the supposed friction between them.
Reacting to this, Muntaka Mubarak indicated that he has petitioned the party hierarchy and the police to investigate the allegation.
According to myjoyonline, the accusations are “baseless.”
The Asawase MP was speaking with Luv news’ when he presented financial support running into ¢300,000 to 110 needy students in his constituency to pursue various courses at the tertiary level.
After various disruptions, there is currently a significant security presence in Buipe in the Savanna Region.
The military and police presence comes after some persons stormed the police station and the palace of the Buipewura to demand the release of eight people who were arrested.
During the protest, an individual was injured when police fired a warning shot to disperse the protestors.
He has however been taken to the hospital for treatment.
According to citinews.com, eight persons were arrested for the alleged involvement in razing down some houses belonging to some Fulanis in protest against the enskinment of a Fulani as a chief of Mande.
The Secretary of Buipewura Jinapor II, Neripewura Abubakari Kitson Panfia, said measures have been put in place to restore calm.
Ghanaian artiste Nautyca has explained his relationship with singer Michy, formerly known as Shatta Michy.
Born Jeffery Kofi Gordor, he guested on Accra 100.5 FM’s Entertainment Capital, hosted by Nana Romeo, on Saturday, January 14, 2023.
During the Music Is My Life Concert organised by Tema-based record label Mimlife on Friday, December 23, 2022, Nautyca’s performance was rudely cut short, and he was promptly asked to exit the stage for Shatta Wale to take over.
According to him, though hurt, he obliged and got down. While in his car with his crew, however, he heard Shatta Wale, on stage, insulting his mother and calling him disrespectful and a fool who wanted to ruin the fun.
Reacting to this in the exclusive Class Media Group (CMG) interview, Nautyca said in all honesty he does not have a fight with Shatta Wale and so does not know the reason behind the attack.
He also detailed attempts by a person’s in the Reggae/Dancehall star’s camp to trap and harm him. He cited what happened to rapper Kweku Smoke. He again mentioned threats via cell phone messaging from anonymous individuals.
He was asked if, perhaps, the insults and threats are as a result of his relationship with Shatta Wale’s former fiancée, Michy.
In response, Nautyca said it is because he is currently working and “rolling with Michy and doing music, that is what even allows Shatta Wale to jovially write about Michy [on social media], to congratulate her.”
“So the direction this is going, I think, it’s even in his favour or it’s for him,” he added. “Since I started walking with her [Michy], I have never said anything bad about Shatta and I even tell her that we need to have a song [with Shatta].”
Nautyca also revealed that he is in the habit of watching Shatta Wale’s Snapchat and he has noticed that when he and his music collaborator Michy go to perform, Shatta Wale makes comments on the App to big her up.
“He’d rally support for Michy because she is doing well,” the Tema-based performer said. “It’s possible that if I had not made music with her and taken her on stage, you [Shatta Wale] would not write these things [on social media].”
Nautyca indicated that, as a man, he feels he is only facilitating the reunion of Shatta Wale and his ex-fiancée, “the way we all we want it. Just as all Ghanaians would love to see it.”
Having said this, the rapper categorically asked the Reggae/Dancehall star not to think he has intentions “to take something from him.”
As it were, he further assured Shatta Wale that he has travelled several times with Michy but “never have I on any day, had any conversation with her apart from the music.”
Nana Romeo, at the tail end of the interview, asked if anything that has taken place or will take place in the future can destroy the Tema-based rapper’s relationship with Michy.
“Oh no, no, no!” Nautyca promptly responded. “Let me put it like this; Michy is my best friend.”
He expressed a belief that Michy loves him, which is shown in how she advises him.
Citing an instance where the singer and TV personality called him to take down a social media post, he added: “I feel, it’s a good friend who can tell you things like that and I’d do same for her.”
Romeo pressed and asked if he had any fears, given all that was happening.
“It’s music [we’re doing]. When the studio time calls, we’ll go and do our music but aside from the music, there’s nothing else. We’ll just stay in our corners [but] when the music calls, we’ll do it,” he explained.
Nautyca and Michy have two songs together; the hit ‘Ok’ and ‘Supuu’ are both from 2022.
Social Media is definitely the playground of Actress and Presenter Nana Ama Mcbrown. She knows when and how to make netizens talk, gush and go gaga over her posts.
The Award-winning TV personality has once again blown away the minds of fans and followers on the ‘gram’ with a new video.
McBrown has dropped a video playing football with a colleague on her compound amid dancing.
Wearing a short tight shorts, the mother of one flaunted her newly acquired backside to fans disregarding the reaction the video might be greeted with when it goes viral on the internet.
The position of her phone camera gave a full and clear view of her booty while she engaged in the activity in the clip.
The booty was largely shown in the video while she played the football and as well danced to Jay Bhad’s hit song ‘Anadwo’.
Black Sherif’s hook, which he delivered excellently on the track, has become the favorite part for many, and these students displayed their love for it.
The video was shared by Sarkodie to appreciate the love these students have for the song and how they strived to sing it excellently despite their disabilities.
Ebenezer Akwasi Antwi originally nicknamed Ras Nene but now Dr Likee is no different from this. He has a past life, and for the first time, he has shared and gone deep into it.
The comic actor in an interview has given a blow-by-blow account of how he entered into smoking at a tender age and later matured into peddling drugs as a big-time business.
He said at the early age of 8 he occasionally was staying with his mother’s elder sister who owned a drinking spot at Tafo, one of the popular towns in Kumasi.
On his visits, the woman would entrust the spot to his care and run personal errands then return back to post and sell the alcohol and cigarettes to customers.
All these while he had seen and experienced how these adults who come to the shop drink and smoke, and thus started practising what he saw with time.
Dr Likee later became a product of the environment he was exposed to. He started drinking the leftover alcohol already served to clients and joined in smoking too.
According to him, when people come to the bar and are done smoking drops it on the floor and quenches it, the fire isn’t completely out.
So in that case I’m compelled to pick it, hide behind the house and smoke. This was how it all started.
Asked by the host, Delay if her Mother’s sister was aware of this, dr Likee revealed that the woman knew yet she did nothing about it.
It went on for years and he graduated from small-scale smoking to dealing drugs itself for so many years.
“I worked at a bar when I was young. Sometimes when people come to the bar and they are done smoking, I pick the last piece from the ground and hide to smoke it. That was how it all started.
Later I meet another stubborn kid who was just like me, he introduced me to weed smoking. Dr Likee (Ras Nene) disclosed to Delay. . “My mother warned and advised me to quit smoking on several occasions but I never paid heed to her,” he added.
“I became stubborn because I was earning some money from my scraps trade and the smoking habit made things worse.
My mother would sit me down severally to advise me but I wouldn’t listen and gradually I was introduced to wee by a friend,” he told Delay.
The Ghanaian comic actor while speaking also admonished parents and guardians to desist from sending children on errands to buy them hard drugs and cigarettes for use.
“Never send your child to buy cigarettes or even smoke in their presence
There are some secrets that can only be unveiled at the right time. No matter the episode of life, when the time is set right and situations are calm, you let the cat out of the bag.
Ghanaians have another one to think about, Did you know Dr Likee and Gospel Musician Brother Sammy are brothers?
Yes, they are. You may be wondering how come. Your thoughts are as good as mine.
Dr. Likee, real name Ebenezer Akwasi Antwi at a sitting with Deloris Frimpong Manso on her popular TV show The Delay Show went deep into his life.
According to the comic actor, he and Gospel Musician Brother Sammy born Samuel Opoku are brothers.
DR-LIKEE.
Revealing for the first time to the public, Dr Likee disclosed that Brother Sammy is his half-brother related from his father’s side.
Half-brother means a brother with the same father but a different mother or the same mother but a different father.
“Brother Sammy is my half-brother from my father’s side. I’ve kept it a secret. This is the first time I’m unveiling to the public…” Dr Likee told Delay on the show.
Singer and TV personality Diamond Michelle Gbagonah, alias Michy, has advised her fans, especially the females, not to rush through life, making decisions in the moment, only to suffer unforeseen repercussions in the future.
Michy and her son, Majesty, appeared on Accra-based TV3’s The Day Show hosted by Berla Mundi, on Monday, January 16, 2023.
She was asked what her future plans are for herself and Majesty.
Answering, she said: “It’s a lot. We’re hoping for the best. Life has to be smooth throughout. We have life so everything is possible. I want to touch people so I am praying for the finances to be able to do that.”
“I have too many kids looking up to me, and I’d love to tell these young ladies, ‘Take your time!’,” Michy quickly added.
“Take your time with the tattoos,” she said, as if to explain. “Take your time with the piercings, take your time with the relationships…”
Asked how many tattoos she has, she reflected awhile and answered: “Three.”
Berla wondered if she regretted having that number of tattoos.
Michy responded with a story about how she was denied a dream job because of the images on her skin.
“I don’t really regret having them but at a point, I did Cabin Crew Training to be a flight attendant – I’m actually a certified flight attendant but you’re not supposed to have tattoos, or you can have them but not visible [while you’re] in your uniform,” she explained, and lifting her left arm, added: “But this is huge, you know.”
“Like I said, life changes at each point so we have to make sure that the decisions we make today, don’t affect our tomorrow because you really don’t know what’s coming tomorrow so it’s better to be on the safe side,” Michelle noted with an air of profundity.
“So take your time,” she stressed in conclusion.
During the interview, Michy revealed her son’s favourite song from his father’s repertoire is ‘Dem Confuse’.
Majesty, 7, is the son of Ghanaian Reggae/Dancehall star Shatta Wale.
After a highly anticipated debut in Berekum, Stonebwoy took the stage at his “A Night With Stonebwoy” concert to an overwhelmingly positive response.
Thousands of people crammed into the Ahenfie Hotel in Berekum on Saturday, January 14, to watch the Ghanaian international music superstar give an electrifying performance at what proved to be his first headline show in Berekum. The Nish Entertainment-produced event, which sold out, was an exact replica of what happened earlier that day when thousands of locals flocked to the streets to give him a heroic welcome to the town.
The crowd’s excitement for Stonebwoy erupted as they started to yell his name in unison after a few fresh performers finished their sets. As his hypeman, OGee The MC and DJ Justice, strolled out to the stage, playing “1 GAD,” the opening song of his performance, He walked on stage with confidence and his trademark captivating grin. His towering stature only exalted his stage presence; no matter the angle a person stood in the crowd, it was nearly impossible to miss the monster performer dominating every corner of the stage.
Stonebwoy commanded the stage through many songs alone, his almost prophetic energy enough to captivate the audience. He danced and ignited the crowd with popular hits like “Bhim Nation,” “Kpokeke,” “Tomorrow,” “Tuff Seed,” “Hero,” “People Dey,” “Run Go,” “Gidigba,” “Name,” “Not Again,” “Activate,” “Nukedzor,” “Mane Me,” “Sobolo,” “Nominate,” “Ololo,” “Higher,” “Putuu,” and more.
Stonebwoy is an award-winning African artist who has been placing the continent firmly on the musical map since he first gained mainstream recognition in 2012. The artiste, who was recently awarded with an achievement plaque from Audiomack after being the first Ghanaian musician to surpass 100 million streams on the music streaming platform, rounded off 2022 as the top male artist in Ghana with international touring, standout collaborations, and hugely popular singles.
Meanwhile, Stonebwoy has announced a concert at The Palladium in Times Square, New York City, dubbed “My Homeland Concert.” Fans can secure their VIP or general admission passes.
The show forms part of his yet-to-be announced North American tour as he gears up to release his fifth full-length album after signing an artist deal with Def Jam/Universal back in 2022. The Billboard-rated and multi-award-winning international performer will take the stage on Friday, March 3, 2023, where he will perform at the famed New York venue for one night only.
Singer Bisa Kdei has advised his fellow music makers to be careful of what music deals they accept and sign to, lest they sell their souls to the devil.
Sitting with Entertainment Journalist Kwame Dadzie for a YouTube interview posted on Monday, January 16, 2023, the popular musician said “it’s the best,” to be an independent artiste compared to signing to a record label.
“It’s my opinion but I think,” he explained. “You can have a record deal, maybe you can have a distribution deal, it depends on the contract, just don’t sell yourself away,” Bisa advised.
Explaining what it means to sell oneself away, the respected songwriter said: “The thing is that you can sell your whole catalogue to a record label and you’re [ruined].”
Kwame wondered if it is always bad to sell ones catalogue to a record company regardless of how lucrative the deal offered may be.
Bisa Kdei insinuated that US$2 million is not enough for an artiste to hand over their catalogue to a record company but granted that it will be a mouthwatering offer for some music acts, nonetheless.
“I’m not going to lie to you, I’ve had offers but I turned them down because I don’t want to give my catalogue away,” he revealed but without stating the amount involved. “It’s very important as a musician that you keep that. That’s why I said it’s the best [to be an independent artiste].”
Born Ronald Kwaku Dei Appiah, he asserted this is what is meant by the popular showbiz phrase ‘selling one’s soul to the devil’.
“Because you sell your whole catalogue and at the end of the day, you’re making nothing out of it and the record label is taking all the money,” he added.
Noting “it all depends on the kind of contract,” an artiste is given, the serial hitmaker underscored the importance of “lawyers and you need intellectual people around you who will check these kind of things for you.”
Concerning the labels that reached out to him, he revealed they are “very big record labels,” from the international world.
“I’m not saying record labels are bad, they are good. It [only] depends on the kind of deal they are bringing,” the 36-year-old clarified.
Kwame Dadzie asked what he thought of a US$200 million deal.
The ‘Mansa’ hitmaker answered by citing the Ghanaian proverb that teaches: “Eating [well] regularly is better than eating all at once.”
The award-winning Ghanaian singer, songwriter and record producer’s fourth album, ‘Original’, is slated for release on Friday, January 20, 2023.
Two years ago wheat bran used to sell at GH¢15 for a 25kg bag but is now selling at GH¢50. Soya bean that was also sold at GH¢150 is now selling at GH¢400 per kilogramme, and the price of maize is no better than those two and has seen an up to 60 percent increment in recent times.
These are the main ingredients used in the preparation and production of poultry feed; and once they surge in price, managing their poultry farms becomes very expensive for farmers.
The Bono Regional Minister, Justina Owusu Banahene, at the 23rd Regional Annual General Meeting of Association of Ghana Industries (AGI) last week in Kumasi hinted that about half the poultry farms in her region are folding-up.
Mr. Oppong Adjei confirming what the Regional Minister said, explaining to B&FT that the issue is much bigger as there has not been any intervention by government to help assuage their plight.
He confirmed that most farmers are reducing the capacity on their farms in order to stay in business, even though feeding the birds is having a heavy toll on them.
He further cautioned that if proper measures are not put in place, the poultry industry might collapse totally.
“The situation is getting out of hand. It looks like there is no intervention to sustain the poultry industry. Very soon, we will not have a single poultry farm in the country. The situation is bad.
“The farms are basically in the Bono and Ashanti Regions. They are all having the same challenge as a result of the feed cost that has gone up over 300 percent. We were looking for an intervention by the ministry, but nothing came out of it; so it has now become very critical.
“If you go to the Bono Region, one farmer who owned a 300,000-bird capacity poultry farm has sold his birds and now has only 50,000 left. And even with that, it’s a challenge feeding them. When you go to the Eastern Region there is another farmer with 32,000 capacity; he now has only 700 birds. The situation is the same across the country, and it is very critical and needs timely intervention,” Mr. Oppong Adjei lamented.
On the number of jobs lost, Mr. Oppong Adjei explained that once the poultry farmers are cutting down on production, some of their staff will definitely be laid-off. He noted that depending on the size of a farm, staff strength could be around 50 or more.
He contends that the amount of bonds held by pensioner bondholders is not a sizeable portion that the government cannot do away with.
He pointed out that individual bondholders are not solely responsible for the program’s performance.
Because you typically know very well that producing economic activity surrounding these people will be quite low, I rather we exempt retirees and the disabled.
“So, I will plead with the government: I don’t think the quantum of bonds that they are holding within the entire debt structure will be so much,” he said. “I don’t think they will exceed GHC3 billion,” he is quoted by asaasenews.com.
The forum, led by Dr. Adu A. Antwi, stated that a petition has been sent to the finance minister to exclude them from the programme and protect their pensions but all efforts to reach the minister have been unsuccessful.
According to him, the convergence at the ministry is to register their displeasure over their inclusion in the debt exchange programme.
Speaking to journalists on January 16, 2023, he said “If, by January 23, there is no response from the Finance Minister, about 50 of us will converge at the Ministry. A lot of us would have loved to be there but some of us are weak and we cannot even stand for long.”
Pensioners Petition Finance Minister, Others To Protect Their Benefits
The projection is according to the Institute of Energy Security (IES) which explained that the potential increase in the price of petroleum products, is attributed to soaring prices on the international oil market and the recent depreciation of the cedi against major trading currencies.
“Following the 8.69% rise in the price of gasoline [petrol] and 2.19% in the price of LPG [Liquefied Petroleum Gas], together with the 9.89% depreciation of the local currency against the US dollar, the Institute for Energy Security (IES) projects a rise in price for products at the various pumps”.
In the wake of this, the IES projected that the price of petrol will sell at GH¢13.50 per litre while diesel will sell around GH¢15.00 per litre.
The IES, however, added that the LPG will sell around GH¢11.00.
On percentage terms, prices are set to rise between 5% and 9% in the next half of January 2023, pushing a litre of gasoline [petrol] to roughly GH¢13.50, Gasoil [diesel] to GH¢15.00, and a Kilogram of LPG to GH¢11.00,” the IES noted.
Meanwhile, in the first pricing-window of January 2023 and around the festive period last year, consumers of petroleum products witnessed a reduction in prices at various pumps across the country.
The marginal reduction during the period was due do fall in prices on the international market and marginal gains made by the local currency against the US dollar.
The scope of these innovations extends to applications and technologies which enable mobile banking, online payments, investments, insurance, and remittances among others. The high adoption/acceptance and popularity of these digital financial services and products increasing their use over traditional banking services was significantly accelerated by the outbreak of the Covid-19 pandemic.
Driving these innovations are Fintech companies which are contributing significantly to the growth of the local economy, creating new jobs, and stimulating an entrepreneurial ecosystem. Also, they are making the provision of financial services more efficient, accessible, and user-friendly.
Therefore, it has become imperative to closely identify, monitor, and track the drivers of changes in the ecosystem and to adopt measures that leverage their full potential to promote efficiency, effectiveness, and synergy for the overall financial sector goals, products, and services.
Hence, the purpose of this write-up is to look at some top 10 trends which may influence the development and roll-out/deployment/implementation of Fintech innovations within the year which stakeholders including innovators, regulators, investors, and consumers must pay attention to and anticipate.
TRENDS TO WATCH IN 2023
1. Digital Payment Services
The development and deployment of digital payment services – the use of mobile payment apps, electronic payment systems, mobile wallets, etc. without the use of physical cash has become the main offering of Ghana’s Fintech ecosystem. These payment innovations particularly mobile money (Momo) have enabled greater financial inclusion than any traditional financial service channels – despite their risks.
While we anticipate the enhancements in existing payment solutions to allow multiple payment options and the development of add-on services, the adoption of other modes of payment such as contactless payments like Apple Pay, Google Pay, Paypal, etc. will be aggressively deployed this year.
The trend will promote the expansion of existing payment solutions such as mobile banking, peer-to-peer payments, etc., and drive the development of new payment technologies.
Additionally, the rollout of the Pan-African Payment and Settlement System (PAPSS) which is providing financial market infrastructures for instant and secured cross-border payments offers new opportunities for the development of payment solutions that support merchant payments and cross-border transactions.
The surge in the associated risks of fraud, privacy, data protection, and user identification will promote the development of new technologies to support biometric identification, enhance KYC processes, fraud detection, and data protection.
Innovators particularly must pay attention to this trend and design tailored solutions to meet the growing demands and facilitate the growth of digital payment platforms.
2. Internet Of Things (IoT)
The Internet of Things (IoT) simply refers to the collective invisible network of connected devices using the technology that permits communication between the devices and cloud services. This is possible due to the ongoing digital revolution which is witnessing the wide use of internet-enabled and connected devices by individuals and businesses.
As part of the revolution, everyday “things” (devices) connected to the internet are integrated and powered to allow seamless connectivity and access between multiple smart devices such as computers, cars, mobile devices, and home appliances among others.
Now, the innovation focus is shifting to making available for use at homes, workplaces, and in industries, IoT technology and devices which can automatically transmit data to and from the internet promoting the use of machines in activities of work and life.
IoT is enabling real-time collection and exchange of data leveraging smart devices, IoT applications, and a graphical user interface to permit several possible uses of internet functionalities today.
And as the IoT trend gains acceptability and use, we anticipate its application to influence the use of connected vehicles, connected homes, smart cities, and smart buildings. Therefore, all stakeholders must plan for its adoption and use vis-à-vis its embedded financial service offerings.
3. Blockchain and Cryptocurrencies
According to a recent BBC report, the US regulators – the US Federal Reserve, Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency have issued their first-ever joint warning to banks over the use of cryptocurrency due to its associated risks – potential fraud, legal uncertainty, and misleading disclosures by digital asset firms. This warning follows the recent collapse of the world’s second-largest cryptocurrency exchange platform FTX in November 2022.
Despite its current challenges, the surge in the trading, use, and acceptance of cryptocurrency as a medium of exchange, a store of value, and a unit of measure in direct competition with the traditional currencies of the world will not be slowing soon. The craze to use crypto digital assets such as cryptocurrencies (Bitcoin being the popular one), crypto commodities, and crypto tokens will continue and may gain further acceptability.
Additionally, Blockchain technology has become the primary technology platform for the development of these emerging financial tools and fintech products and services.
It is mainly characterized by data invariability and decentralized operations which allow modifications by its users and such updates on mutual terms. The high dependence on data by Fintech companies makes the adoption of this data-driven technology very crucial for their operations and the design of their services.
Although blockchain technology is mostly associated with cryptocurrencies, its potency transcends digital currencies and can be adopted by both Fintech companies and regulators to secure the huge volumes of financial data generated and used by them.
During the year, regulators particularly must continue to closely monitor the use of these technologies as a means of providing the medium of exchange and strictly regulate same as it has the potential to completely change the structure of the financial market and decentralize the use of money or its equivalence.
4. Artificial Intelligence (AI) and Machine Learning
Artificial Intelligence (AI) and Machine Learning (ML) are closely related and connected technologies. AI illustrates the capacity of a computer system to mimic human cognitive functions such as learning and problem-solving whilst Machine learning involves the process of using mathematical models of data to help a computer learn without direct instructions from humans with the possibility to continually learn and improve on its own based on its experience.
Following the increasing levels of automated processes and digitized transformations in financial services, Fintech companies are leveraging AI and Machine learning in handling “Big data” and predicting market trends.
A key enhancement to this technology is the AI-powered chatbox and virtual assistants which have been pre-programmed to provide solutions to customers through data analysis of consumer patterns over a period. This provides a competitive advantage to service providers in cutting down operational costs while efficiently serving customers’ needs and making more accurate predictions.
It has been estimated by industry experts that banks and financial institutions will save 826 million working hours in 2023 by introducing automated customer support through AI in Fintech and stakeholders must explore the immediate deployment of AI and machine learning technologies to improve their operations, assist in the detection of fraud, predict risk among others.
5. Software as a Service (SaaS)
Software as a Service (SaaS) is a way of delivering applications over the internet as a service. As a shift from the current business practice of buying, installing, and maintaining software on hardware devices, one can now simply access software through a web-based platform as an on-demand service – giving 3rd party software providers the responsibility to manage access, security, availability, and performance of the software.
It works through a cloud delivery model through applications which are hosted and made available to its users through web-enabled devices. With the need for high-volume data as well as software performance and backup increasing daily, it has become pertinent and needful for businesses to choose cloud-based providers.
The use of SaaS enables multitenant architecture, easy customization, and better access to provide low setup and infrastructure costs, scalability, and security among others.
Fintech companies can scale their services by providing a wide range of software tools on a single platform using cloud computing solutions at low setup and infrastructure costs. SaaS is one of the fastest-growing markets and has high user potential which businesses must explore.
6. Remittances and Money Transfer Services
In a World Bank year-in-review report for the year 2022, remittance in sub-Sahara Africa grew to an estimated 5.2% ($53 billion) more than it did in the year 2021. Previously, the cross-border transfer of funds was only facilitated by traditional financial institutions and channels.
However, with the advent of Fintech innovations, digital money transfer products are being deployed to facilitate instant transfer of funds and their use is on the rise across the world.
According to data provided by the World Bank Migration and Development Brief, Ghana maintained its position as the second largest recipient of remittance in Africa, having recorded a 4.4% growth in 2022 – representing a $4.7 billion inflow. Similarly, India set a world record by hitting $100 billion in remittances in the year 2022.
Digital money transfers and remittances are fast becoming the preferred customer choice for sending funds across borders because they are faster, cheaper, and more convenient. And with the worsening economic conditions across Africa, the reliance on the diaspora for economic support and funds will be intensified and the use of digital money transfer channels will become more imperative. It has been forecasted by industry experts that in the face of a growing fintech ecosystem, remittances into the country will grow to $5 billion this year.
Investments into remittance innovations – products and services will be amplified during the year, and it will become a significant Fintech product after digital payment solutions.
7. Environmental, Social and Governance (ESG) Compliance
ESG considerations are not direct products or services of the Fintech industry. However, the emerging trend for businesses to comply with ESG frameworks in the bid to promote sustainable business practices, attract investments, etc. implies that Fintech companies will not be exceptions to such demands.
The global acknowledgment that ESG considerations must constitute part of the performance benchmark for companies is gaining local acceptance. One such local initiative is the launch in the year 2022 by the Ghana Stock Exchange of its Disclosure Guidance Manual to regulate ESG compliance by the listed companies.
Even though there are no streamlined guidelines for privately owned companies, it is expected that ESG will play a pivotal role in the designing of business models and solutions by Fintech companies as ESG compliance has become a focal area of consideration for investors. For a country like Ghana which relies majorly on foreign investments, Fintech companies should take matters on ESG compliance more seriously.
8. Regulatory Trends
Fintech innovations are not unregulated innovations. Regulation of innovations will continue with strict supervisory activities by regulators largely due to the volatilities, risks, and consumer protection concerns of the industry. Existing regulations, guidelines, directives, and/or orders will experience reviews based on implementation insights and the direction of technological advances.
New innovations will be closely monitored, piloted under direct supervision, and rollout strategically to ensure financial stability and protection of the financial market. Policy frameworks to facilitate and promote innovations such as the rollout of a Regulatory and Innovation Sandbox in Ghana will continue as regulatory response and support.
Central bank initiatives such as the deployment of Central Bank Digital Currency (CBDC) (eCedi as the case in Ghana) will be aggressively pursued with the possible development of a comprehensive framework to regulate other digital assets. Fintech companies and other stakeholders must be prepared to engage and contribute to such initiatives.
Again, there is a growing need and preference for Regulatory Technology (RegTech) to enhance compliance by making available regulatory and compliance tools and services to Fintech companies on a universal platform. Industry players – regulators and Fintech companies can leverage this technology to facilitate the regulatory framework and align businesses along compliance streams.
9. Talents – Skilled Professionals
The bedrock of the Fintech industry is its people – talents leading the development of innovations and changing the financial service delivery landscape. Without talents, all the existing innovations and anticipated ones will not be realities.
Nonetheless, the industry is bedeviled by the lack of requisite human resources and at present, the available limited human capital is being outsourced by foreign-based tech giants. There is a need for Fintech companies to attract and develop a new pool of talents to diversify their service offerings in the face of a growing market economy and an increase in mobile and internet connectivity.
McKinsey & Company in their Fintech Report in Africa notes that by supporting the growth of training and skills development through informal technological education programs and training opportunities and focusing on recruiting and rewarding talent with strong IT and data capabilities, fintech and incumbents could develop the skills and expertise they need from local populations to help drive growth. Fintech companies must roll out strategies to help them recruit, train, and retain talent with the requisite skills for their growth.
Also, the regulators must invest in talent development programs that support their understanding of fintech innovations and offer internal human resources for the effective performance of their regulatory–supervisory functions.
10. Smart Contracts
Undoubtedly, blockchain technology and smart contracts are fast becoming the future of transactions and record-keeping, as traditional paper-based contracts have proven over the years to be expensive, time-consuming, and susceptible to forgery in their adoption.
As a new way of enforcing relationships and automating business processes, smart contracts will facilitate streamlining these digital tools and processes to increase efficiency by eliminating the conventional high-level decision-makers and stakeholders.
Also, its operationalization on the back of blockchain technology will allow for faster and more secure transactions. Industry players can leverage this technology in their transactional activities to promote secured transactions, efficiency, and reduced transactional costs.
CONCLUSION
The Fintech ecosystem has great potential in providing varying social and economic benefits to our country, as reflected by McKinsey & Co in their Fintech in Africa report, which names Ghana as one of the key markets in Africa to experience growth opportunities in financial services. The report indicated that Ghana would see a continuous 15% annual growth in revenue until the year 2025 to reach a staggering $18.6bn revenue from Fintech activities.
There is therefore the need to scale operations by embracing these emerging trends for sustainable growth and innovations in the financial market.
In a statement, the association noted that with inflation hovering above 50% coupled with the depreciation of the cedis in recent times, it is high time government took urgent steps in scrapping some of the taxes it introduced in 2022, so as to cushion traders and consumers as a whole.
The statement signed by Samson Asaki Awingobit, the Executive, Secretary, further noted that in 2022 the NPP government introduced the GetFund Levy 2.5%, NHIL Levy 2.5%, and the Covid Levy 1% which totalled 6%.
“Ironically these same 7.2% Levy is charged at the time of supply of goods from the importer to the wholesaler. The same Levy is charged at the time of supply of goods from the wholesaler to the retailer, and onward from the retailer to the consumer. This means the total compounding Levy after these transactions are 28.8%,” the statement said.
It added that “this shows clearly that if the government decides to scrap or review these levies, the current astronomical inflation rate could see a significant drop.”
Find details of the full statement below:
PRESS RELEASE BY THE IMPORTERS AND EXPORTERSASSOCIATIONOFGHANA
GOVERNMENT MUST REMOVE COMPOUNDING TAXES CRIPPLING TRADERS AND IMPORTERS
The rippling effect of the country’s crumbling economy on businesses has become a major concern for the country at large. It is frustrating to note that Importers and traders are at the receiving end of these challenges which could have been long prevented with the implementation of drastic measures by the leaders in charge of the economy.
With inflation hovering above 50% coupled with the depreciation of the cedis in recent times, the Importers and exporters association believes its high time government takes an urgent step in scrapping some of the taxes it introduced in 2022, so as to cushion traders and consumers as a whole.
It’s imperative to note that the current dollar rate at a buying and selling exchange is pegged at 13 and 11 Ghana cedis as of 15th January 2022. And this could have direct repercussions on both Importers and traders with the vulnerable public suffering the most.
In 2022 the NPP government introduced the GetFund Levy 2.5%, NHIL Levy 2.5% and the Covid Levy 1% which totalled 6%.
These levies are charged on Cost-In-Freight and insurance (CIF) plus Duty at the point of clearance, meaning the charges amounts to 7.2% of CIF value. Ironically these same 7 2% Levy is charged at the time of supply of goods from the Importer to the wholesaler. The same Levy is charged at the time of supply of goods from the wholesaler to the retailer, and onward from the retailer to the consumer. This means the total compounding Levy after these transactions are 28.8%.
This shows clearly that if the government decides to scrap or review these levies, the current astronomical inflation rate could see a significant drop.
We as well urge the government to maintain the current rate by customs at the Port for the next three months to cushion traders, since any decision by the government to go contrary based on the current dollar rate will rather worsen the plight of Importers and traders.
The association in unionism with its relevant stakeholders also call on the government to shelve the planned implementation of the 2.5 VAT levy owing to the fact that, “We are Not In. Normal Times”
Despite domestic economic commitments, he claims that Parliament was not given the fine details of the debt swap program, which is a component of the proposed debt restructuring plan by the International Monetary Fund (IMF).
“There were meetings before the budget came to be consummated and later on presented by the Finance Minister. So we had broad discussions, but the details were not known to us at the time, but some consultations went on as to where exactly we were as a nation. But I am not too sure that this matter came up for discussion maybe the broad strokes were mentioned but not the details,” Kyei-Mensah-Bonsu said speaking on Accra-based Citi FM.
As part of efforts to secure an IMF bailout and address the country’s unsustainable debt situation, government launched the DDEP inviting bondholders to voluntarily exchange approximately GH¢137 billion domestic notes and bonds of the Republic including ESLA and Daakye for a package of new bonds.
The Ministry of Education has announced its plan to appoint a Dean of Disciplinary Affairs to be in charge of disciplinary issues in Senior High Schools (SHS) and public tertiary institutions across the country.
According to the ministry, the appointed official will be in charge of dealing with students’ misconduct and applying appropriate sanctions.
The announcement by the ministry is on the back of reports of some eight female students of Chiana SHS unleashing abusive words on President Nana Addo Dankwa Akufo-Addo.
The girls who are final-year students were dismissed for their conduct but have since been recalled following an intervention by the president.
“Recently, the Minister hinted of Dean of Disciplinary Affairs to augment the work. Just as we have institutions responsible for ensuring discipline, we still have persons who will go against the accepted cultural values and norms. So the Dean will work with the Guidance and Counselling unit to make sure there is discipline in our schools,” Public Relations Officer of the Education Ministry, Kwesi Kwarteng told Citinews.
Meanwhile, the Ghana Education Service has asked the Disciplinary Committee for Chiana SHS to explore alternative sanctions other than their dismissal.
A teacher who was wrongfully handed a 20-year jail term has been acquitted and discharged of any wrongdoing after spending 6 years in custody.
Maxwell Bernieh in an interview with Connect FM, narrated the ordeal of how he was wrongfully accused of rape just one month after starting his job.
“I was excited to have secured the job because I had been unemployed for some time. Just one month after being in the school, I was supervising an examination when some officers came to arrest me for no reason. I got to the Police station and I was accused of defiling a student I do not even know. I looked into the face of the girl and I had not even met her before because she was not in my class. I still did not understand what was happening and the case eventually proceeded to court,” he indicated.
Barnieh said he was subsequently jailed despite pleading not guilty at trial.
“Anytime the case is called, the girl in question will not show up and I will be told she is undergoing an operation. I still did not know what I had done to the girl that is making her go through an operation. After about seven months of trial, I was sentenced to 20 years in July 2016. I told the judge I was innocent but she did not listen. She only told me to file an appeal. I was sent to Nsawam,” he narrated.
But according to him, salvation came from private legal practitioner, lawyer Martin Kpebu who took over his appeal and won him his freedom after months of trial at the high court.
“The prosecution, therefore, failed to lead evidence to show that it was the accused person who defiled the victim. Having found that the prosecution failed to prove that the accused person had sexual intercourse with the victim, then it follows that the prosecution failed to prove its case beyond a reasonable doubt. This ground of appeal succeeds. With such failure to establish the essential elements of the offense, it follows that the offense charged was not established against the appellant beyond reasonable doubt and he ought not to have been convicted.
“The result is that the appeal succeeds and same is upheld. I hereby set aside the conviction and ultimately the sentence imposed on the appellant herein. The appellant is accordingly acquitted and discharged,” part of the appeal ruling by her ladyship Justice Mary M.E Nsenkyere (Mrs) indicated.
The General Secretary of the New Patriotic Party, Justin Frimpong Kodua, has appealed to all executives and party members in the Central Region to forgive each other if anyone has wronged them in one way or the other.
He said, though many executives and party members in one way or another may have stepped on somebody’s toes during the parties, branch, constituency, regional and national elections, they should all forgive and forget and rally together to break the eight which is the party’s objective.
Speaking in an interview with Kasapa News’ Yaw Boagyan after a reconciliation engagement with the party’s Central Regional Executives both current and former, current and former MMDCES, current and past Chief Executive Officers, current and former Members of Parliament, he stressed that they should all fight together to break the eight, as current executives cannot do it without their contribution.
According to him, all indication shows that the New Patriotic Party shall break the eight to make Ghana proud.
He called for unity among the party members, especially the outgone National and Regional Executives.’
The Central Regional Chairman for the New Patriotic Party, Robert Kutin for his part said the party cannot break the eight if they do away with peace and unity and further called for a united front to win the upcoming 2024 general election.
Since the program’s debut on December 5, 2022, there have been three extensions.
The Ministry of Finance explained that the delay was necessary owing to ongoing stakeholder discussions with institutional and individual investors who have recently been asked to participate in the debt exchange program in a tweet seen by GhanaWeb Business.
As part of efforts to secure an IMF bailout and address the country’s unsustainable debt situation, government launched the DDEP inviting bondholders to voluntarily exchange approximately GH¢137 billion domestic notes and bonds of the Republic including ESLA and Daakye for a package of new bonds.
In the wake of this, various groups of bondholders in the financial sector have called on their members to reject government’s Domestic Debt Exchange Programme due to a lack of broader consultations and negotiations.
A petition to keep them out of the program and secure their pensions was addressed to the finance minister, according to the forum, which was run by Dr. Adu A. Antwi, but all attempts to get in touch with him have been futile.
He claims that the ministry is coming together to express their discontent with being included in the debt exchange program.
He noted that the pensioners still maintain their stance on their exclusion from the programme despite the deadline of January 16, 2023.
Meanwhile, the deadline has been extended by the governemnt to January 31, 2023 for broader stakeholder consensus to be made.
On January 16, 2023, the finance minister announced, “Building consensus is key to a successful economic recovery for Ghana. Pending further stakeholder engagement with institutional and individual investors recently invited to join the debt exchange programme, the government is extending the DDE expiration to Jan 31, 2023.”
The government announced the inclusion of individual bondholders in the debt exchange programme. But the bondholders have noted that this will not be in their best interest and may lead to a depletion of their investments.
Pensioner Bondholders to converge at Ministry of Finance on January 23
He has made hints that the NPP will soon respond to a seven-point list by NDC lawmaker Cassiel Ato Forson that blames the economic crisis on the government’s acts and inactions.
Ahiagbah justifies his assertions.
He claims that the NDC has refused to be up front with Ghanaians about its analysis of the causes of the nation’s current economic slump.
He is concerned that the party continues to deny the role that global factors play in the current challenges.
His views were contained in a tweet dated January 16, 2023. It read as follows:
“Will the NDC ever be honest with Ghanaians? Their continuous denial of the global factors impacting Ghana confirms why Ghanaians say the NDC is incompetent. A fuller response will be given soon to Hon. Ato Forson’s twisted reasons.”
Who Ahiagbah was responding to:
The NPP communications head was referring to a social media post over the weekend by former deputy minister of finance Cassiel Ato Forson, who outlined seven causes for the current economic challenges.
In his post, Ato Forson listed how the bloated size of government, especially within the executive and state-owned enterprises, had contributed to depleting government revenue and thereby threatened to tank the economy.
Background
Ghana had a torrid 2022 amid an economic crisis that forced the government to seek an International Monetary Fund (IMF) facility at a time when the cedi was rapidly depreciating, inflation was galloping, and the government was faced with multiple downgrades by rating agencies.
The government has repeatedly blamed the crisis partly on the aftershocks of the COVID pandemic and the ongoing Russia-Ukraine war.
It has promised to turn around the economic fortunes of the country after sealing a staff-level agreement with the IMF late last year, with hopes that funds from the US$3 billion facility will be released early this year.
The government is hamstrung by hurdles as it attempts to secure a deal with its Domestic Debt Exchange programme.
Organized labour successfully fought off plans to include pensions in the DDE; now individual bondholders are also rejecting plans to include them.
Born and bred in Tafo Zongo in the Ashanti region, popular Ghanaian actor Ras Nene has highlighted his journey to stardom.
Ras Nene, who halted schooling at the Junior Secondary School (JSS) stage, ventured into all sorts of professions, including tailoring, buying, and selling scraps, until his encounter with drugs.
Ras Nene, who gave a detailed account of his life story, recounted how he traded in drugs of all kinds after he moved to Suame Magazine in his teens.
The actor said he rose to the rank of a ‘street uncle’ and later broke away to be his own ‘street boss’ who boldly sold narcotics along the street.
“Never send your child to buy cigarettes or even smoke in their presence. Sometimes when someone smokes, drops it on the floor and quenches it, the fire isn’t completely out. So in that case I’m compelled to pick it, hide behind the house and smoke the rest of it. That’s how it started.
“I became stubborn because I was earning some money from my scraps trade and the smoking habit made things worse. My mother would sit me down severally to advise me but I wouldn’t listen and gradually I was introduced to wee by a friend,” he told Delay.
Recounting how he had command over the ‘street life’ while confirming reports that he was one of the dreaded ‘street kings’ at that time, Nene said he was a ‘street gangster’.
“I used to control the street. I had big men who covered me so I was making a lot more money. I had weapons to scare away customers who had ulterior motives. My boss at that time named me after a notorious criminal in Lagos called Anini.
“So people could not pronounce it properly and that’s how it became ‘Ras Nene. In my mid-20s, I crossed the Libya desert several times with drugs. I was doing drugs until my early 30s and I became a Yaro. I had boys who worked for me and I only come for my settlements.”
Smuggling drugs was also part of his dealings.
“There was this drug called bond. I used to smuggle it from Togo into the country. We hide them in the tubes of trailer car tyres and take them out when they arrive in Ghana. I was dealing in crack as well,” he stated.
Ras Nene recalled how he had life-changing encounters in jail and when he was introduced into the movie scene.
“I have been to court seven times although I lost only two cases. I was dealing in drugs until it landed me in jail several times but that was the place, I learnt my lessons. Acting then came along the line and changed my life totally. Even with the smoking habit, I realized that It wasn’t right to smoke and be in the company of these famous actors. I told myself that God had plans for me so I stopped, as a result of the determination,” he told Delay.
When the movie industry took a nosedive, Ras Nene moved on to galamsey where he made a lot of losses which ruined his finances.
“I realized I was spending proceeds from my acting career although I was able to raise a shelter from it. So, I ventured into galamsey and I realized it was profitable because I made a lot of money from it.
“I made profits almost my start-up capital but when it got to a point, things got worse. We were digging but the gold was nowhere to be found. I borrowed money from people to invest but things got worse and I was even arrested in the process.”
Ras Nene, with a help of a friend took a trip to China where he met Wode Maya and this changed his life story for good.
“I once helped someone with money to travel to China. When I was on the streets, I had a lot of money and I helped the guy who had only visa but without money to travel. That person got back into the country and met me at a time when I was in need the most. He returned the favour and took me to China. There, I met Wode Maya and co. They all had apple laptops in front of them.
“There, Wode Maya approached me and told me to venture into YouTube business and that it would help me a great deal. I told him I don’t have any formal education and I ignored him. But I arrived in Ghana and my friend Paulino advised me to venture into it. Later, I bought into the idea and I started it with a friend of mine called Twan. Wode Maya opened my first YouTube channel for me and now I am here.”
Veteran Nollywood actress, Mercy Johnson-Okojie has debunked rumours of being struck with cancer.
The renowned actress, who took to Instagram on Sunday, January 15, 2023, clarified the said rumours, whiles establishing that she only spoke of having a cancer scare.
According to Mercy Johnson, her earlier statement about having a cancer scare in a previous video was taken out of context.
Mercy however stressed that she only had problems with her thyroid, adding that she is doing much better now.
“Hi guys, Okay, so first and foremost, thank you so much for all of you who have been calling and sending messages and prayers, thank you. I do appreciate it so much but, I do not have cancer. I noticed that a clip from my TV show, Mercy’s menu, has been flying around and I think they cut the clip,” she stated.
Ghanaian trailblazer, Black Sherif’s first studio album, ‘The Villain I Never Was’ has been named the most streamed album on the audio streaming platform, Boomplay Ghana.
Since its release on November 6, 2022, the project has charted number 1 to date with over 200 million streams on the platform.
Born Mohammed Ismail Sherif, the 21-year-old talented artist released “Money”, “Cry For Me”, and “Destiny” in 2020, which gained him some traction online. Later, he dropped “Money (remix)”, “Adea Kye”, and “Ankonam” and garnered huge buzz on Boomplay across several countries.
Black Sherif had an incredible run in 2022.
He successfully headlined his own shows both in the UK and Ghana respectfully and gave out a stellar performance on the 25th MOBO Awards grand stage at the OVO arena in Wembley, UK.
The development comes after government had earlier received and later rejected an application by Vodafone Ghana to transfer its majority share of 70 percent from the seller [Vodafone International Holdings B.V] to the Buyer [Telecel].
A statement issued by the NCA explained that in accordance with due process, the Authority had evaluated the application on various criteria and engaged with Vodafone Ghana and Buyer.
“Following the NCA’s decision, the Buyer resubmitted a revised financial and technical proposal in December 2022 which demonstrated the needed capital investment to extend the deployment of 4G and launch innovative Fintech solutions,” the statement explained.
“The NCA found that the revised proposal provided more clarity and certainty in terms of the funding required for the acquisition and the commitments from both the Seller and Buyer. In addition, the Buyer has strengthened the overall governance and management team and made firm commitments towards meeting the regulatory requirements of the NCA,” it added.
It further pointed out that the revised proposal from the Buyer now meets the regulatory threshold and hence has granted conditional approval for the transfer of shares to the Buyer including the submission of strategies for employee retention.
Meanwhile, a Bloomberg report in July 2022 noted that Telecel plans to help fund the acquisition of the company by offloading its mobile towers.
Vodafone is also reported to have paid $900 million to the government of Ghana for a 70 percent stake in the company while the government maintains a 30 percent stake.
They contend that the government violated the zero-risk agreement they had before enrolling when it decided to include them in the program, which is unfair to them on top of being unfair to the government.
In order to protect herself from attack, a 61-year-old retiree spoke to GhanaWeb Business on the condition of anonymity. She claimed that when she first became a pensioner, the bank encouraged her to buy government bonds and treasury bills because there was no chance she would lose her money.
But since the announcement was made, she has dreaded the decision to partake in government bonds.
She said, “I went to the bank when I retired and asked them for good advice on how I can use my money. They told me to invest in government bonds and treasury bills because there was no way the government will owe me. I only had my first coupon on January 9, 2023, and that’s what I have been using to buy medicine and take care of myself. Thankfully I no longer pay school fees, but other responsibilities demand that I am financially stable.”
“They can’t do this to us. And even though it is our own money, we can’t say much or reveal our identities because of fear of what may happen to us. I realized that being too vocal in Ghana today will only land you in trouble,” she said on anonymity.
Popular music executive, Don Jazzy, has asserted that there are only four trustworthy men in the entire world.
The Mavin Boss made this statement while touching on faithfulness in marriages during a recent podcast with media personality Nedu.
According to Don Jazzy, the majority of his male friends who cheat on their wives do not even consider the possibility that their wives could also be unfaithful to them.
Although he did not mention names, the popular sound engineer stated that he knows four guys in the world who are true to their spouses and that every other man cheats.
However, the 40-year-old musician pointed out that there are many levels of infidelity adding that some men cheat while treating their spouses with utmost respect and respectability.
Meanwhile, Don Jazzy earlier stated that he cannot be committed to one woman.
Don Jazzy claimed that although things might change once he locates his lost rib, he can’t stay committed to just one woman in the meantime.
“I wouldn’t be able to process the fact that if I like this person, every other person should go to hell. As at now, in my life, when that butterfly hits me like it hits you people when you fall in love, maybe I will then say every other person is f*cked up and this is who I like,” he said.
Veteran Ghanaian music producer, Appiah Dankwah, popularly known as Appietus, has recounted how his wife helped him win awards after she threatened to divorce him.
Speaking on Citi TV, Appietus disclosed that he went to an awards ceremony with his wife where many producers bagged awards except for himself because they left signatures of themselves on their songs, which he never did.
According to him, his wife threatened to divorce him after the event unless he started signing all of his work with his signature.
“My wife and I went to Ghana Music Awards years ago, and I was not awarded…those who were awarded mostly had their signatures in the songs they had produced….so after the event, on our way home, my wife told me the only way I would also be awarded is when I infuse my signature in the songs.
“She threatened to divorce me if I didn’t add my signature in all the songs I produced… Her advice has really helped me because I have won many awards since then,” he shared.
In the ensuing ten years from the beginning of his profession, the multi-award-winning music producer has taken home six awards from the music business.
He also explained how he came up with his catchphrase “Appietus in the mix,” claiming that it was derived from the term “Appiah’s Tools.”
Prophet Nigel Gaisie has prophesied an excellent year for musician Fameye after the latter honoured his request.
It could be recalled that the preacher and leader of the Prophetic Hill Chapel rebuked Fameye for failing to show appreciation to him after his spiritual contribution to his successful music career.
According to Nigel, the singer never made it back to his church after his prayers for him.
Following Nigel’s public outburst, Fameye in an interview on 3 Music Network promised to visit the famous preacher at the right time.
In the latest post made by the preacher, Fameye was captured in his abode.
The elated preacher in his Facebook post assured the singer of yet another hit song. He wrote: “My Son, Fameya Passed By…God bless him and show him more mercies” He will hit BIG SOON AGAIN. He said everything I told him by the Spirit has come to pass.”
Media personality Delay has cleared the air over suggestions that actor Ras Nene who recently expressed interest in her during an interview might have a chance of winning her heart.
The comic actor revealed that the host of The Delay Show has all the qualities he wants in a woman. Ras Nene also added that he is good in bed, a quality he boasts can cause Delay to will all her properties to him.
“…you are my line (type) …very much so, maybe if I get you in bed, you will bequeath all your properties to me…I will deal with you very well… we are in charge, try the gangster, try the street boy and see,” said Ras Nene.
The viral clip has generated tons of reactions from social media users.
A Twitter handler @jojo_phake wrote that Ras Nene’s words might have moved the media personality. He predicted a love affair between the two.
“After watching the interview what I observe is @Delay falls in love with @RasNene.
But shooting down this claim, Delay wrote: “I haven’t fallen in love with anyone. Please allow me to do my work.”
After extensive negotiations that culminated last Thursday, January 12, the government and organized labor came to an agreement on the 30 percent base salary for 2023.
They expressed their dissatisfaction with the salary arrangement in an interview with the Ghana News Agency (GNA) in Sunyani, but they noted that “it is not a bad thing” and expressed optimism for better talks in the future.
“If they had maintained the 15 percent Cost of Living Allowance (COLA), then, the base pay increment of 30 percent will make it 45 percent in total and that would have brought much relief to workers,” he stated.
Mrs Celestine Agyarko, a teacher, however, commended organized labour for, “standing high and demanding what is due workers. Though the percentage demand was not agreed to by the government, 30 percent is not all that bad”.
She expressed the optimism that future engagements between the government and organized labour would be more fruitful to help improve the living conditions of public sector workers.
Another civil servant, Mr Michael Penou indicated “it is welcoming news to some of us who fall under the low wage rate” saying, “I think the agreement and the subsequent increment would benefit the ordinary public sector worker.”
“If the government had accepted the initial 60 percent demand, it would not have done the nation good and we must all try and manage with the 30 percent increment in the meantime,” he added.
But, other workers who spoke on condition of anonymity described the 30 percent increment as insignificant and acceptably low, considering the current economic situation in the country.
The 57-year-old was arrested and charged with being under the influence of alcohol in public and declining to register as a sex offender, TMZ reports. He was apprehended in Lake Elsinore, California on Friday morning after sheriff’s deputies were phoned about someone being drunk in public.
Authorities then looked up Dick’s records and saw that he hadn’t updated his sexual offender registration. He was ordered by a court to register as a sex offender back in November, after he was found guilty of groping an Uber driver in Los Angeles in 2018.
Dick was taken to a detention center and the sheriff’s department has launched a probe into the matter. His latest arrest follows an incident from October when he was caught taking power tools from a garage in Santa Barbara, California.
Last May, the comedian was arrested on suspicion of sexual battery when a man said Dick sexually assaulted him. Dick was taken by the police during a livestream while he and others were staying at an RV campground in California’s Trabuco Canyon.
Someone watching the livestream had called the authorities, who later searched the area and did a welfare check before arresting him. In 2021, he was also arrested for felony domestic battery and felony assault with a deadly weapon.
The Dallas Zoo closed on Friday as it searches for a leopard that escaped from its enclosure.
The zoo announced the news on Twitter, revealing that the situation has been deemed a “Code Blue,” which refers to a “non-dangerous animal” that’s unaccounted for.
“The Zoo is closed today due to a serious situation,” the Dallas Zoo wrote. “We have an ongoing situation at the Zoo right now with a Code Blue – that is a non-dangerous animal that is out of its habitat. One of our clouded leopards was not in its habitat when the team arrived this morning and is unaccounted for at this time.”
In a subsequent tweet, the zoo said they’re being assisted by the Dallas Police Department, while reassuring locals that they believe the leopard “is still on grounds and hiding.”
It however added that since the increment in the last quarter of 2022, the various indicators have changed significantly therefore utility companies are “under-recovering and require an upward adjustment of their tariffs in order to keep the lights on and water flowing.”
