TIG Post

Author: Chris Kodo

  • FULL TEXT: Alan Kyerematen unveils ‘Great Transformational Plan’ in major political speech

    FULL TEXT: Alan Kyerematen unveils ‘Great Transformational Plan’ in major political speech

    Alan Kyerematen, the outgoing Minister of Trade and Industry addressed Ghanaians on Tuesday, January 10, 2023.

    Alan Kyerematen, among other things announced his intentions to contest the flagbearer slot of the New Patriotic Party.

    Below is his full speech

    NATIONAL BROADCAST BY HON. ALAN KYEREMATEN, OUTGOING MINISTER FOR TRADE & INDUSTRY

    FELLOW COUNTRYMEN & WOMEN

    FRIENDS OF GHANA

    Let me start first by wishing you all a happy, healthy, productive and a prosperous New Year.

    Secondly, I wish to express formally, my profound gratitude to His Excellency the President for the opportunity given me to serve the good people of Ghana in his Administration over the last six years, and for graciously accepting my resignation as Cabinet Minister responsible for Trade and Industry, with effect from 16th of January 2023.

    Thirdly, I wish to use this platform to formally announce my decision to contest the flagbearership of the New Patriotic Party when the Party officially opens nominations for that purpose.

    His Excellency the President, Nana Addo Dankwa Akufo-Addo has been a good friend of mine and will always remain so based on our shared commitment to the ideals and principles that inspired the founding fathers of our great Party, the New Patriotic Party (NPP). We have competed in the past but have always worked togetherthereafter.

    The President has laid a strong foundation for the socioeconomic development of our country, although I believe there are things that could have been done differently. My vision is to build a superstructure on this foundation that will bring prosperity to our nation.

    The pre-COVID-19 performance of our economy, the flagship programmes including the Free SHS, the One District One Factory (1D1F) Initiative, the Planting for Food and Jobs programme, the Agenda 111 project and the COVID-19Response initiatives, are all testimonies of the strong leadershipthat the President has provided over the last six years.

    In spite of all of the above however, it is an undeniable fact that the combined effect of the COVID-19 Pandemic and the Russia-Ukraine war has stampeded our country into a crisis of unprecedent proportions, with its negative impacts on the economy, on businesses, and on our social lives.

    I have no doubt that the anticipated International Monetary Fund (IMF) Support Package will restore confidence in our economy, and bring it back to the pre-COVID levels.

    Fellow Countrymen and Women

    This is the seventeenth time that we have gone to the IMF over the last 57 years. We promised never to go back but we have gone back. One of the lessons that we have learnt from the recent developments is that Ghana’s economy is still fragile, vulnerable and susceptible to both external and domestic shocks.

    This primarily is as a result of the fact that our economy is highly dependent on the export of commodities with little or no value addition.Indeed, the 5.1% projected GDP growth for the Ghanaian economy for 2023 is based on the anticipated increase in commodity prices.

    To avoid going back to the IMF, we need a new Plan. A Plan that will lead us to a more self-reliant and resilient economy. That Plan must move Ghana fromStability and Growth to Transformation.

    Fellow Countrymen and Women

    If by the will of God and through your goodwill, I am voted first, as the flagbearer of the NPP and subsequently as President of the Republic in the next general elections, I will become the transformational leader of our time, who will build on the foundations laid by successive leaders of our nation over the last sixty-five (65) years.

    To achieve this strategic goalof transforming our dear country to become the shining star of the new Africa, I will as President, launch and lead the execution of the Great Transformational Plan (GTP) of Ghanawhich will span the period 2025 to 2030.

    The Post-COVID Economic Recovery Programme(P-CERP)currently being implemented with the anticipated support from the IMFfrom 2023 to 2025, will be a transitional economic programme leading to the roll out of thisGreat Transformational Plan.

    Fellow Countrymen and Women

    Before I proceed to provide a brief insight into the key elements of the Great Transformational Plan, seven critical considerationswould need to be taken into accountto guarantee the success of the Plan.

    The primacy of the Private Sector in our national development agenda. The Private Sector, both domestic and foreign, formal and informal has to be at the centre of our transformational agenda. The Government’s focus must be to facilitate the process of making our private sector competitive, by creating an enabling environment for businesses. Attitude to work and enforcement of discipline. We as a people should appreciate the need for discipline in all spheres of our national lives and change our attitude to work. Whether you are working for the Private sector or for Government, as a worker, you are not doing a favour to your employer.It is your duty to ensure that you earn your living from the efforts of your labour. Corruption and petty theft or thievery, particularly from the public purse,deny our country the benefit of utilizing its tax revenue and other resources for the development of our country. The arrogance of power has been a major obstruction to progress in our country. People in positions of authority must understand that leadership is an opportunity to serve the people, and not to lord over them. In servant leadership, humility is an asset and not a weakness. Passion for excellence.As a country we must celebrate competence and excellence and not mediocrity. As a people, we must focus more on getting things done than talking. Ghana is gradually becoming a NATO country – “No Action Talk Only”. We need to remember that theuse of time is a zero-sum game. What Ghana needs now are solutions and actions not debates. And last but not the least, our politics in Ghana is too divisive. This keeps out some of our best talents in offering themselves for political appointments. Yes, we pride ourselves as being the bastion of democracy in Africa, but that does not mean that we should allow partisan politics to destroy our collective interests. These seven critical considerations outlined above,will provide what I will describe as the ‘soft power’for the effective implementation of our Great Transformational Plan.

    Fellow Countrymen and Women,

    Let me now provide a brief synopsis of the Great Transformational Plan (GTP). The GTP will be anchored on the following key pillars:

    A Strong Macroeconomic Environment: The success of the GTP will depend primarily on strong macroeconomic fundamentals, which will include among other things, a stable currency, low inflation, sustainable debt levels, revenue optimization and tight expenditure control to guarantee fiscal balance, low competitive interest rates, strong external reserves backed by high levels of liquidity to support the financial sector. To a large extent, the IMF support programme when fully executed, will create the appropriate conditions that will underpin the Great Transformational Plan.

    A New Agricultural Revolution (NAR) for Ghana: The NAR will be based on five critical elements. Introducing Technology and Innovation into Agriculture, through Research & Development (R&D) in Agronomy, Mechanization, Irrigation, and Plantation Management. This will build on the foundation laid by the Planting for Food and Jobs and Planting for Export and Rural Development (PERD) Programmes. Our farmers cannot be competitive without technology and innovation. The establishment of Licensed Food Distribution and Marketing companies by the Private Sector throughout the country at the district level, to be supported by the Government. These companies will constitute a vital link between farmers and Market Queens in the urban and peri-urban areas.

    It will be complemented by the introduction of a digitalized food distribution and marketing online platform which will connect producers to buyers and consumers. The strengthening of the Ghana Commodity Exchange as the marketplace for all actors in the Agricultural value chain. Deepening the current regime for lending and financing for the agricultural sector. Enhancing the de-regulation of the Cocoa sector by deepeningprivate sector participation in the buying and marketing (including export) of Cocoa. Mass Citizens participation in Agriculture by introducing an ‘Operation Own a Farm’programme for the Ghanaian citizenry in general. Industrial Transformation: This will build on the successes of Government’s Ten Point Industrial Transformation Programme including the One District One Factory (1D1F) initiative;the establishment of Strategic Anchor Industries to diversify the economy beyond Cocoa and Golde.g the Automobile assembly, Garment and Textiles, Pharmaceuticals and the Petrochemical industry;enhancing the growth and development of Small and Medium Enterprises;establishment of Industrial Parks and Special Economic Zones; and supporting Domestic Retail Trade and Distribution. Accelerated Infrastructure Development:Promoting Private sector financing for public infrastructure such as Roads, Railways, Ports and Harbours, Water Supply Systems, Public Housing etc, which will reduce Government’s exposure to the financing of such infrastructure projects.

    Digital Mainstreaming: Digitalization will be mainstreamed in all Government and Public sector activities, building on the current work led by the Ministry of Communication and Digitalization. Energy Security and Diversification: Greater emphasis to be placed on developing renewable sources of energy, by fast-tracking the execution of Government’s energy transition strategy, including but not limited to nuclear and hydrogen energy. Decarbonization and Climate Resilience: Scaling up Government’s current efforts at reducing Ghana’s carbon footprints and facilitating access to the carbon trading markets, as well as establishing mechanisms to strengthen the country’s preparedness against the negative effects of climate change.

    National Security and Defence Optimization: Deploying resources to strengthen National Security and Defence Mechanisms and Infrastructure, to deal substantively with emerging security threats and challenges, particularly in the Sahalian region. Downsizing Government: The architecture of Government will be overhauled by consolidating some existing Ministries, Departments and Agencies.This will mean running a lean Government structure that will ensure operational efficiency and effectiveness in the delivery of Government services. Strategic Engagement with the International Community: Ghana’s diplomatic and economic relations with the International Community under the GTP will be predicated on the principle of ‘positive neutrality’, based on the strategic interests of Ghana, as well as our shared commitments for the preservation of peace around the world and respect for humanity. I will in the next several months provide further details of this Great Transformational Plan in the new ‘Alan K Prime Time Talk Show’to be introduced. I will also seek inputs from the people of Ghana as I go round in the regions and districts on my campaign tours.

    Fellow Countrymen and Women

    The execution of the GTP will require our collective efforts, irrespective of political orientation, ethnicity or religion. It will lead to a new dawn of Restoration, Rebuilding and Reward.

    The future of our country is bright. I want you fellow countrymen and women,to make me your next President when the time comes, and you will see a significant difference in your lives.

    Fellow Countrymen and Women,

    I want you to invest in your own future by supporting my campaign. I will therefore be launching a mass“Ketewabiaransua” Campaign and “Adopt a Constituency Initiative”, which will afford Ghanaians from all walks of life the opportunity to be part of my campaign.

    For all those who will have the honour and privilege of being Delegates to select the Flagbearer of our great Party, the NPP, please remember, Alan Kyerematen is your Candidate to win power for you in 2024.

    Together We shall break the Eight!

    As we do say in our local Ghanaian dialects:

    #Akyeanaemmui(symbolizing Hope) #Mu sadaqa da yo; sabodaanfaani go be! (Let’s Sacrifice for the future) #Èkpè deka metunahò(r) o! (a symbol of unity and collective effort) #Mòfiaamòbaayenii! (we shall all enjoy) God bless our homeland Ghana and make our nation great and strong!!

    I thank you for your kind attention.

    Source: Ghanaweb

  • An economic outlook on what to expect in 2023

    An economic outlook on what to expect in 2023

    In a year when government and the International Monetary Fund (IMF) are expressing differing sentiments about Ghana’s economic prospects following a difficult 2022, it is obvious that 2023 is going to be full of uncertainties.

    While government is bullish that the US$3billion bailout programme it agreed with the IMF at staff level last December can restore much-needed stability following a disastrous 2022, when inflation reached over 50 percent, the Bretton Woods institution on the other hand is predicting a difficult year ahead. Come what may, the economy’s various sectors will be impacted to varied degrees depending on both internal and external factors.

    The Business and Financial Times (B&FT) takes a dive into the economy’s various sectors and offers brief outlooks as to what to expect in 2023. Enjoy the read.

    Economy

    Following the Ghanaian economy’s mixed performance in the third quarter of 2022, it is expected to continue losing ground through 2023. The country’s provisional real quarterly gross domestic product (QGDP) growth rate – which includes oil and gas – came in at 2.9 percent annually, according to data released by the Ghana Statistical Service.

    The Q3 2022 GDP marked a slowdown from the 6.5 percent growth rate seen in the same period of 2021 – the lowest in eight quarters during the COVID-19 pandemic and since 2020 Q3 when GDP logged at -3.3 percent.

    Through 2023, the reduced growth will come on the back of rising price pressures and monetary-tightening weighing on private consumption and investment, and as government spending declines. Government is anticipated to resume rigorous fiscal consolidation while continuing its attempts to rationalise expenditures.

    Additionally, it is anticipated that the central bank’s hawkish monetary policy stance, which it has adopted to stabilise the cedi and control inflation and expectations, will have a negative impact on the expansion of private-sector lending.

    During 2022, the central bank cumulatively increased the benchmark policy rate by 1250 basis points to 27 percent – the highest rate in almost two decades. Inflation currently sits at 50.3 percent, thus 5.1 times outside the upper limit of the central bank’s medium-term inflation target band, and continues to adversely impact economic activity and consumer behaviour.

    The central bank has noted that it may remain hawkish at least through Q1-2023 until inflation shows signs of moderation, and the implementation of other available monetary tools to control money supply and rein-in inflation take effect.

    The tighter monetary policy stance of various central banks around the globe, and global recession risks, could also potentially weigh on Ghana’s economy. The central bank expects inflation to peak in Q1-2023, then decline to around 25 percent by the end of 2023.

    Effectively, the Q4-2022 growth outturn is expected within the band of 1.7 percent to 2.5 percent year-on-year, given the factors at end-2022.

    Debt restructuring

    Due to the country’s high risk of debt distress and urgent need for IMF assistance, it is anticipated that the US$3billion deal will be approved by the Fund’s executive board by mid-2023 after a staff-level agreement was approved in December 2022. However, a successful debt restructuring is still essential.

    Financial sector to remain under immense pressure in 2023

    The financial sector is set to come under scrutiny as the country navigates economic uncertainty, with banks and the broader securities industry set to come under sustained scrutiny.

    The Bank of Ghana’s Monetary Policy Report shows that despite a robust performance in the first 10 months of 2022, when the value of the industry’s assets accelerated to GH¢249.9billion, cracks had begun to appear in the once-resilient sector.

    Currently, banks are rebalancing their portfolios and cutting back on new advances due to increasing pressure and a decline in Capital Adequacy Ratio amid concerns over Non-Performing Loans. This trend is expected to continue.

    The Domestic Debt Exchange Programme will also put additional pressure on this segment, since commercial and rural banks as well as institutional investors hold about 60 percent of the nation’s domestic debt.

    Deposits, which remain a major component of banks’ funding mix, are anticipated to take a hit as customers hold onto cash due to increasing lack of confidence. However, the likelihood of a run on banks remains very unlikely.

    Despite the industry’s NPL ratio declining from 16.4 percent in October 2021 to 14 percent in October 2022, the nominal stock of NPLs increased to GH¢11.3billion in October 2022 from GH¢8.4billion in October 2021. Analysts remain concerned that tighter economic conditions will only raise the stock further.

    However, to further alleviate thissituation, the Bank of Ghana has granted relief measures such as reducing the Cash Reserve Requirement ratio and access to a GH¢15billion Financial Stability Fund (FSF). Although analysts have already expressed concern about the source of funding for the FSF, particularly as none of the development partners which have been touted to contribute to it has yet to make any commitment.

    On the stock market front, where a loss of 12.38 percent was recorded in 2022 compared to more than 43 percent gain in 2021, limited activity is expected this fiscal year – while financial and technology stocks are anticipated to be bright spots.

    Unlike technology stocks, however, financial stocks are expected to experience some level of pressure from uncertainty in the wider industry. The consensus among industry experts is that, irrespective of the direct economic losses the financial sector might experience in the medium term, the loss of investor confidence will pose the biggest challenge this year and beyond.

    Tricky year ahead for mining

    Locally, the mining industry is undergoing a number of reforms – including the domestic gold purchasing programme and ‘gold for oil’ barter policy.

    While the policies are envisioned to build on the country’s gold reserves, compel miners to retain at least 20 percent of their revenue in local currency, ease pressure on the cedi and ultimately help to restore economic stability, the Ghana Chamber of Mines says compelling its members to retain a high percentage in cedi could have negative repercussions for the industry, due to its wobbly nature.

    Other challenges like the ongoing redundancies of mine workers and illegal mining remain a threat to the sector’s future. Gold output for 2022 is projected at 3 million ounces, up from 2.7 million in 2021.

    Energy sector faces daunting future

    The energy sector – comprising petroleum upstream and downstream and power (electricity), ideally should be at the centre of what is seen as a ‘year of bouncing back’ from the shackles of 2022. However, the sector faces mounting challenges ranging from dwindling production volumes, high cost of fuel and lack of liquidity in the power sector, among others.

    In the upstream sector, the first three quarters of 2022 saw windfall revenue of US$1.6billion, US$550.5million more than 2021, due to high international prices but against a lower output. Should this price surge trend continue in 2023, industry watchers expect that the impact of dwindling production volumes will not be felt.

    However, given that demand and supply uncertainties remain a concern owing to the Russia-Ukraine conflict, the COVID pandemic and expected global economic recession, a fall in international oil prices could spell doom for government.

    This could be exacerbated by the falling production volumes, with Ghana having failed to add to its three producing fields – Jubilee, TEN and Sankofa – since 2018. The situation, compounded by government’s reluctance to incentivise exploration according to the Ghana Upstream Petroleum Chamber, does not portend well for the upstream industry.

    Similar to the upstream industry, the downstream faces price volatility challenges which could make or undo government’s efforts to restore microeconomic stability.

    Crude prices on the international market are expected to remain stable in the first quarter of 2023, which should be welcoming news for local consumers; but going into the rest of the year, China’s easing of economic restrictions and the EU’s sanctions on Russia may drive prices up. The expected contraction in the global economy, which is likely to drive down demand, may also bring about lower prices.

    Meanwhile, the defining moment for the power sub-sector rests on whether government can settle its indebtedness to independent power producers, which currently stands at over US$1billion.

    The quarterly review of utility tariffs – where a substantial hike in tariffs is expected in the coming weeks on the back of rising inflation, currency depreciation and high fuel prices – could further increase the burden on consumers. Equally important to the power sub-sector’s future will be how the Electricity Company of Ghana can effectively collect revenue to pay for the power it buys from power producing companies.

    Agriculture

    Although government spending on the agricultural sector in 2023 has increased marginally to 1.95 percent above the previous year’s figure of 1.86 percent, many industry players believe more funding is needed.

    Ghana is a signatory to the Comprehensive African Agricultural Development Programme of 2003 (Malabo Declaration), in which member-countries were expected to increase agricultural investment to 10 percent of annual budgets to culminate into, at least, six percent growth in the sector annually; but the country has failed to do so since then.

    Though it is unlikely that government will prioritise financing in the agricultural sector, it is still necessary that spending in the sector increases from the current 1.86 percent. This will ensure the necessary measures are put in place to ensure food security going forward.

    Meanwhile, the Managing Director for GIRSAL, Kwesi Korboe, indicated last year that 2022 witnessed willingness on the part of banks to lend to agribusiness – cutting across the value chain.

    “We have also done a lot of work in the area of policy and issued more guarantees this year. We have seen an upward trajectory of growth in terms of the value of guarantees we are issuing and number of agribusinesses we are supporting. We also have an agreement with the Development Bank of Ghana that we think will be beneficial to the sector,” he said.

    But to increase gains in the sector, it is necessary that much attention be paid to policy decisions so as to ensure efficiency in the sector, attract investors for the value chain and encourage import substitution.

    It is also important, as suggested by some experts, that various stakeholders must be deliberate in organising training for directors of banks and other financial institutions who are key policymakers, so as to gain more interest and raise awareness. It is high time the agricultural sector received the necessary attention to make it more attractive as calls for youth to venture into it increase.

    Tourism holds a positive view

    With key tourism initiatives including the ‘Beyond the Return’ agenda, Ghana continues to enjoy a high level of goodwill in its quest to become a tourism hub in the sub-region and the continent as a whole.

    As the country becomes a major destination for African-Americans in the diaspora, Ghana’s heritage and historical tourism credentials are unmatched on the continent – and this trend is expected to continue into the long-term.

    For 2023, total global tourist spend is projected to exceed US$1.4trillion, according to Euromonitor International’s index. This means the country must be strategic in order to attract a chunk of this expenditure.

    Last year, there was an estimated one million visitors into the country (international arrivals). Official figures from the Ghana Tourism Authority (GTA) indicate that there were some 645,047 visitors from January to September 2022.

    With key projects, including the anticipated completion of the Kwame Nkrumah Mausoleum by March this year and starting the construction of amphitheatres across the country, the Tourism Ministry is surely rallying all available resources to increase diaspora visitor numbers into the country.

    According to the ministry, an amount GH¢350million has been allocated to modernise tourist attraction sites and embark on product development, as part of a broader plan to enhance the sector’s fortunes.

    The sector’s modernisation will continue this year, according to the ministry, while it is further projected that government will continue allocainge more resources into the sector.

    Consequently, the Tourism Development Fund (TDF) is targetting some GH¢19.6million in revenue for 2023 against the GH¢15.9million collected in 2022. The Fund is key in the country’s tourism promotion.

    There is also a significant potential to expand upon Ghana’s niche tourism segments, with some of West Africa’s largest national parks, diverse wildlife and UNESCO World Heritage sites spread across the country.

    Ghana, just like Kenya and South Africa which are known for their successful wildlife tourism industries, has the potential to expand its ecotourism resources through the development of wildlife and natural sites: including Mole National Park, Kakum National Park, the Ankasa Conservation Area, the Shai Hills Resource Reserve and the Wli waterfalls – the highest falls in West Africa.

    In addition, Ghana has a vast array of wildlife, with 773 recorded species of birds, the Bobiri Forest and Butterfly Sanctuary, the Boabeng-Fiema Monkey Sanctuary and several national parks that are home to elephants and other large animals. The potential for ecotourism, as well as wildlife and wellness tourism resorts, is substantial given the large area of Ghana’s natural reserves and its expansive coastline.

    Could 2023 be the year to finally unlock the country’s tourism potential?

    ICT, digital economy in focus

    With government’s strategic digitalisation agenda positioning the country as a fertile ground for data science research and development, the Ghanaian digital economy is expected to provide unique opportunities to accelerate economic growth and connect citizens to services and jobs.

    The development is also expected to create the right tools and environment necessary to develop Artificial Intelligence (AI) solutions for the country’s agriculture, health, education and financial sectors this year – a move expected to help in the restoration of macroeconomic stability.

    And for the ICT sector or the digital economy to play a critical role in solving the country’s uncertain macroeconomic outlook in 2033, there’s a need for an effective digital transformation agenda.

    The Ministry of Communications and Digitalisation has already started stakeholder engagement efforts on the draft economy policy for inputs to ensure inclusiveness and comprehensiveness.

    With telecom services as the main driver of the country’s ICT for Accelerated Development (ICT4AD) policy – unlocking economic pathways by leveraging the mobile phone as a tool for connectivity, information services and digital financial services over the last decade – the country’s ICT sector and digital economy are expected to see massive advancement.

    Areas such as the local tech entrepreneurial ecosystem, related skills development, digital government platforms and the explosion of data and other emerging technologies – such as artificial intelligence, advanced data analytics, IoT, blockchain metaverse and quantum computing – are all expected to leverage on these advancements.

    The sector will also experience some activities in the development XR in Ghana and Africa, which is an emerging umbrella-term for all the immersive technologies similar to augmented reality (AR), virtual reality (VR) and mixed reality (MR).

    Last but not least, the ICT sector will be rigorously regulated this year. Laws governing the sector are expected to see greater enforcement by the National Information Technology (NITA). This is to ensure that the ICT ecosystem is governed by globally acceptable standards and professionals with the requisite certification and capacity to man the systems being deployed to put the sector at the forefront of the country’s economic development and transformation.

    Free SHS survival could determine sustainability

    Funding for the Free Senior High School (SHS) policy over the past six years has been a combination of government of Ghana’s tax revenue streams and the Annual Budget Funding Amount (ABFA); or simply put, oil revenue.

    These funding sources for the policy have received much criticism from industry players, who maintain that the current funding module is unsustainable as it is primarily taking away a huge chunk of the sector’s allocation at the expense of investment into critical infrastructure.

    For instance, data from the Public Interest and Accountability Committee (PIAC) show that from an oil revenue allocation of 38.7 percent in 2021 to 40.5 percent in 2022, Free SHS is being funded solely from oil revenue in 2023. This complete shift from what has been practiced for the past six years seems to be a sign of what to expect for the next three years under the pending IMF programme.

    The ABFA, which is the amount of oil revenue that goes into the national budget, has four priority areas – of which the education sector is one. If all funding allocations to the education sector for the next three years are channelled into the funding of Free SHS, then other sectors of education such as basic education infrastructure, construction of new Junior High Schools (JHSs) in remote areas for primary schools without JHS, and textbooks for the new curriculum could all suffer a setback this year and beyond.

    The return of government to the International Monetary Fund (IMF) is expected to further tighten its spending ability and limit allocations to the education sector far below the international benchmark of at least 15 to 20 percent of projected expenditure, by about eight percent.

    Notwithstanding, the World Bank is currently reviewing governments’ flagship programmes including the Free SHS initiative. The expectation is that this will better inform government on the way forward regarding the initiative’s implementation and sustainability.

    Implications

    Due to the overconcentration of government spending on the Free SHS, other levels of the education sector are feeling the pinch.

    For example, three years after the commencement of a new curriculum for basic schools, under 30 percent of textbooks have been released to schools – covering only three subjects: English, Science and Creative Arts. This leaves the remaining subjects to the discretion of schools’ heads and teachers.

    These limited textbooks were procured with Ghana Education Trust Fund (GETFund) inflows, raising questions over the cap placed on the Fund by the Finance Ministry.

    With this complete shift from what has been the practice for the past 6 years, if the Free SHS is able to survive on the ABFA without significantly impacting the ability of other critical projects and programmes, it is tempting to conclude that the policy can then survive at least for the next three years under IMF stewardship.

    SMEs must innovate to stay afloat

    Small and Medium Enterprises (SMEs) and startups undoubtedly have a major role to play in the country’s economic recovery journey. Contributing about 60 percent to the country’s Gross Domestic Product (GDP) and accounting for 90 percent of all businesses, SMEs also provide around 80 percent of the total employment in Ghana.

    The space was not spared the challenging times of 2022 but has witnessed quite a number of funding opportunities from financial institutions, the Ghana Enterprises Agency (GEA) and non-governmental organisations; and also embraced events geared toward strengthening their activities to ensure business sustainability.

    However, SMEs must rethink and reassess their operations and consider cutting back or outsourcing to manage their cost of production, especially since all indicators are pointing to increases in their cost of production this year. Instructively, the key concern for the industry this year is how it can successfully navigate the ongoing economic crisis so as to ensure growth and sustainability.

    Parliament

    The first meeting of the Third Session of the 8th Parliament of the Fourth Republic is expected to commence this month, after the House adjourned “sine die” (without any appointed date for resumption) in December last year.

    Upon resumption, President Nana Addo Dankwa Akuffo-Addo is expected to present the State of the Nation Address to the House. As is usual with the practice of the House, bills are expected to be presented. The House will also work on some bills, if there are any at the committee level; and some other instruments at various stages of consideration may be presented as well.

    The First Meeting will also see the Speaker of Parliament admitting Papers, Petitions and Motions for debate, as well as questions for sector ministers to answer.

    This year, the two major parties – the ruling New Patriotic Party (NPP) and National Democratic Congress (NDC) – are gearing-up for their internal elections. This will likely present a challenge to certain aspects of parliamentary business, as incumbent members may abandon their legislative duties to focus on retaining their tickets.

    Absenteeism has been a topic for discussion, and a major challenge to business. Successive Speakers have attempted to deal with the situation in their own way. The current Speaker Alban Bagbin’s position is no different on the matter of absenteeism, particularly for MPs who double as ministers.

    The Eighth Parliament is in its third year and so much has happened already, including the E-levy brawl and the eventful night of inauguration for the 8th Parliament. With the current economic crisis faced by the country, the current IMF deal and the cedi’s performance against the dollar, this meeting promises to be an interesting one with various economic uncertainties.

  • Exclude pensioners from Debt Exchange Programme – Pensioner Bondholders Forum

    Exclude pensioners from Debt Exchange Programme – Pensioner Bondholders Forum

    The Pensioner Bondholders Forum has as a matter of urgency, called on government to exclude pensioners from the proposed Domestic Debt Exchange Programme (DDEP) which is expected to take place from January 16, 2023.

    According to them, their regular source of income has already been impacted by inflation thereby putting more financial constraints on pensioners who often rely on pension funds to pay their medical bills, regular medications and critical expenses.

    Lead Convener for the group, Dr Adu Antwi Esq. addressing journalists at a press conference on January 11, 2023 said pensioners believed that their investments in government securities were the safest hence the decision to now include pensioner funds under the debt restructuring exercise is one that will negatively impact them.

    “Most of us have made these investments with the expectation that the coupons will supplement the meagre pensions we receive through Tier One Pensions under the Social Security and National Insurance Trust (SSNIT),” the group stressed.

    “We have greater motivation to invest in these securities for both safety and liquidity considerations. Our coupons have become our core income while waiting for the payment of the principal amount upon maturity,” the lead convener added.

    They added that given the Amended and Restated Exchange Memorandum terms of the DDEP which extends to 15 years, many pensioners who are equally vulnerable in society, will not live enough to receive our investment in these government securities.

    The group has therefore petitioned the Minister of Finance and the Presidency and also appealed to government to exempt pensioners who hold government bonds from the Domestic Debt Exchange Programme.

    Source: Ghanaweb

  • Ofori-Atta to insurers: We can’t exempt you from the debt exchange program

    Ofori-Atta to insurers: We can’t exempt you from the debt exchange program

    The Ghana Insurers Association’s president has received a letter from Finance Minister Ken Ofori-Atta alerting him that the business cannot be spared from the debt exchange program as it had before requested.

    Since 40% of their total assets for the third quarter of the previous year were invested in government of Ghana securities, GIA submitted the request in December 2022.

    “According to data from NIC, insurance companies deposited approximately GH1.5 billion in deposits with regulated banks and money market mutual funds,” the group’s president, Mr. Seth Kobla Akwasi, told reporters during a press conference on Friday, 9 December 2022.

    Since 40% of our investments are directly exposed to government of Ghana securities, the debt exchange will further compound the investment base of the insurance industry, he said. “Considering the fact that these banks and fund management companies have also invested in the government of Ghana securities, our situation will only get worse,” he said.

    He added: “In uncertain times like this, entities must protect their assets through insurance, which is a key risk management tool. Anything short of an exemption will have far-reaching consequences for the insurance industry and the important role they play in protecting the assets and liabilities of this country. This will also discourage the citizenry from taking up life and annuity policies”.

    “In the absence of the foregoing, the insurance and reinsurance companies will be happy to cede all our claims to the financial stabilisation fund.”

    Prior to the GIA, other unions and groups had all kicked against the government’s debt exchange programme.

    < The Ghana Securities Industry Association (GSIA), for instance, said it cannot accept the programme announced by Finance Minister Ken Ofori-Atta in the 2023 budget. < In a statement issued on Wednesday, 7 December 2022, GSIA said: “We, at the GSIA understand the difficult crossroads at which our nation currently finds itself and the difficult choices that need to be made to set us on the path to debt sustainability. However, we are unable to accept the bond exchange program announced by the Minister of Finance in its present form”.

    “It is our intention to engage the MoF on our concerns and reservations. We, therefore, urge the investing public to continue to have confidence in us as we pursue this process. In this vein, we entreat clients of our member firms to allow us to engage and then communicate the outcomes to enable them take the best decision on their investments.”

    Responding to the GIA’s request, Mr Ofori-Atta said: “Based on your letter and the feedback from you and other industry associations, the government, working with its advisors, has made significant enhancements to the terms of the exchange instruments to address key concerns raised about accrued interest and zero coupons for 2023”.

    “The government has also improved the commercial terms of the exchange instruments; which details were announced on 24 December 2022”.

    “In this regard, the government encourages a positive response from the industry to enable us to complete the exercise in the interest of the broader economy”, the minister’s letter said, adding that in an earlier meeting with the GIA, “you made it very clear, the peculiar nature of your industry and therefore the forbearance required; an exemption, however, is not an option”.

    Recently, Mr Ofori-Atta said Treasury Bills have been exempted from the government’s debt restructuring programme.

    Also, individual bondholders will not experience a haircut. < The government recently had a staff-level agreement with the International Monetary Fund for a $3-billion credit facility programme, thus, necessitating the debt restructuring exercise. < “Under the programme, domestic bondholders will be asked to exchange their instruments for new ones”, Mr Ofori-Atta announced Sunday evening (4 December 2022), adding: “Existing domestic bonds as of 1st December 2022 will be exchanged for a set of four new bonds maturing in 2027, 2029, 2032 and 2037”.

    Also, “the annual coupon on all of these new bonds will be set at 0% in 2023, 5% in 2024 and 10% from 2025 until maturity. Coupon payments will be semi-annual”.

    Read Mr Ofori-Atta’s full address below:

    Good Evening Ghanaians,

    In the Budget Statement presented to Parliament on November 24th, I announced that government will undertake a debt operation programme.

    The broad contours of the Debt Sustainability Analysis has been concluded and I am here this evening to provide some details on Ghana’s Domestic Debt Exchange which will be launched tomorrow.

    External debt restructuring parameters will be presented in due course.

    Under the Programme, domestic bondholders will be asked to exchange their instruments for new ones.

    Existing domestic bonds as of 1st December 2022 will be exchanged for a set of four new bonds maturing in 2027, 2029, 2032 and 2037.

    The annual coupon on all of these new bonds will be set at 0% in 2023, 5% in 2024 and 10% from 2025 until maturity.

    Coupon payments will be semi-annual.

    Our commitment to Ghanaians and the investor community, in line with negotiations with the IMF, is to restore macroeconomic stability in the shortest possible time and enable investors to realize the benefits of this Debt Exchange.

    The Government of Ghana has been working hard to minimise the impact of the domestic debt exchange on investors holding government bonds, particularly small investors, individuals, and other vulnerable groups.

    In line with this:

    Treasury Bills are completely exempted and all holders will be paid the full value of their investments on maturity. There will be NO haircut on the principal of bonds. Individual holders of bonds will not be affected.

    The government recognises that our financial institutions hold a substantial proportion of these bonds.

    As such, the potential impact of this exchange on the financial sector has been assessed by their respective regulators.

    Working together, these regulators have put in place appropriate measures and safeguards to minimise the potential impact on the financial sector and to ensure that financial stability is preserved.

    Specifically:

    The Bank of Ghana, the Securities & Exchange Commission, the National Insurance Commission, and the National Pensions Regulatory Authority will ensure that the impact of the debt operation on your financial institution is minimized, using all regulatory tools available to them.

    A Financial Stability Fund (FSF) is being established by Government with the help of development partners to provide liquidity support to banks, pension funds, insurance companies, fund managers, and collective investment schemes to ensure that they are able to meet their obligations to their clients as they fall due.

    These are difficult times and we count on the support of all Ghanaians and the investor community to make the exercise successful.

    We are confident that these measures will contribute to restoring macroeconomic stability.

    With your understanding and support and that of the entire investor community, we shall overcome our current difficulties, and with the help of God, put our economy back on the path of renewed and robust growth.

  • Be true ambassadors of Christ – Chief of Staff urges Christians

    Be true ambassadors of Christ – Chief of Staff urges Christians

    The Chief of Staff of the Office at the Presidency, Akosua Frema Osei-Opare, has called on Christians to be true ambassadors of Christ by showcasing the virtues of diligence and faithfulness.

    In addition, she said, they should exhibit honesty, selflessness and sacrifice wherever they found themselves.

    Mrs Osei-Opare said that in an address read on her behalf at the opening of the Second Quadrennial Regional Women’s Home and Overseas Missionary Society Convention of the African Methodist Episcopal (AME) Zion Church in Accra yesterday.

    Event

    The five-day convention is on the theme: “Empowering Women for Missions with Love”.

    The event aims at exploring ways that missionary ladies of the church could better equip themselves individually and collectively to effectively reach out to the masses with the gospel.

    It is also to explore ways and opportunities to undertake their divine responsibilities of feeding the hungry, clothing the naked, visiting prisoners, teaching the ignorant, sheltering the homeless, among others.

    The opening ceremony attracted representatives of other sister churches who also gave solidarity messages.

    Premium

    Mrs Osei-Opare acknowledged the high premium placed on education by the AME Zion Church, adding that it was born out of her belief that knowledge, skills and competencies gained from education were prerequisite for any nation to achieve meaningful and sustainable development.

    “The church thus deserves special commendation for the progress made in the area of primary and secondary education. You have established to your credit over 641 basic schools and four senior high schools,” she said.

    She also made mention of vocational institutions set up by the church and said: “This investment in human capital through education has not been without impact”.

    Moreover, the Chief of Staff said the church had produced men and women of character and exceptional qualities who had carved a niche for themselves in both the public and private sectors of the country and beyond.

    Aside from education, she said, the church also contributed in the area of health.

    Opportunity

    Also in an address, the Missionary Supervisor of the AME Zion Church, Cynthia Serwaa Dogbe, said members should pursue opportunities of using modern trends and technology in pursuing their missionary agenda for the glory of God.

    “Let us embrace opportunities for change and learn new ways of doing things and empower our people as we strive to fulfil the great commission,” she said.

    The Western West Africa Episcopal District (WWAED) of the church comprised seven annual conferences in Cote d’Ivoire, Ghana, Liberia and Togo.

    “I can readily recall the school supplies project undertaken by missionaries and through which we have supplied exercise books, pens, mathematical sets, school uniforms and desks to students in our basic schools in the episcopal area. Missionaries have undertaken visits to the aged, sick and the shut-ins with their donations,” she said, and added that “in similar fashion, they have visited orphanages and hospitals, particularly, maternity units to make donations and also encourage persons there with the word of God”.

    Mrs Dogbe also mentioned the initiative project known as Western West Africa Episcopal District Life Member Grant, which was to provide financial support to brilliant, needy female students in schools and colleges.

    “So far, three females and one male student in the Ghana Conferences, and also our female students seminarians at the Trinity Theological Seminary in Ghana have benefited and we hope to extend this grant to other conferences. I must acknowledge that our missionaries in the Ghana conferences have also continued with the annual food and other material support for our seminary students” she said.

    The Presiding Bishop of the WWAED of the AME Zion Church, Rt Rev. Dr Hilliard Dogbe, said, among other things, that God had kept faith with the church.

    Source: Graphic.com.gh

  • Parents advised to m­onitor children’s use of phones

    Parents advised to m­onitor children’s use of phones

    The Director of Young Executive School at Kasoa Opeikuma, Francis Essel-Okyeahene, has called on parents to monitor the use of mobile phones by their children.

    That, he said, was to ensure that children did not abuse the use of mobile phone.

    According to him, a lot of social vices going on in the country were picked up by some persons at a very tender age during their usage of phones when they visited certain sites unguided.

    According to him, a lot of children used their phones to download unnecessary things while others were using Internet to watch criminal activities, and that if care was not taken it would have devastating effects on the society at large.

    Mr Essel-Okyeahene, therefore, entreated parents to monitor what their children used their phones for and compel them to make good use of social media.

    Honour

    Mr Essel Okyeahene disclosed this when he awarded five best teachers with a plot of land each.

    Others were also presented with refrigerators.

    The event also formed part of the graduation ceremony of the Young Executive School.

    Mr Essel-Okyeahene, who is also the Chief Executive Officer of the Onua Francis International School, noted that children were the future leaders and needed to be guided to develop into responsible adults.

    At the event, the Chief of Kontomponia Afari in the Ashanti Region, Nana Kwesi Awuah, commended Dr Essel-Okyeahene for what he had done for his teachers.

    He, therefore, entreated Ghanaian workers to be faithful to their employers since they did not know when they would be rewarded.

    The teachers honoured commended the director of the school for what he had done because they were not expecting such rewards.

    Source: Graphic.com.gh

  • Be good role models to your children – Educationist to parents

    Be good role models to your children – Educationist to parents

    The Principal of the Jackson Educational Complex, Theodosia Jackson, has called on parents to be intentional about nurturing their children to become responsible adults by exposing them to good behaviours.

    She said parents should instil good values in their kids through practical examples.

    Mrs Jackson said parents should not expect their children to become responsible adults in future if they (parents) behaved otherwise in front of them.

    She said it had become common practice for parents to tell lies in front of their children and yet expect them to be truthful at all times.

    Sod cutting

    Mrs Jackson, who is an educationist, made the call during the sod-cutting ceremony for the construction of a fence and the rehabilitation of a playground of the Patasi Experimental Kindergarten (KG) in the Nhyiaeso sub-metro of the Kumasi Metropolis.

    The project is being undertaken by the Child and Family Life International, a non-governmental organisations (NGO), with an interest in early childhood education and formed part of activities marking this year’s celebration of the International Day of Children.

    This year’s celebration was on the theme: “A better future for every child starts with a supportive learning environment”.

    Mrs Jackson, thus, called on parents to serve as role models for their children by living by example and “to make great investments in our children to be great adults in the future”.

    Impact

    The Metropolitan Director of Education, David Oppong, said following the introduction of two years compulsory KG education by the government in 2007, “enrolment levels increased and we are working on solving all the programme implementation challenges.”

    He said that the Ministry of Education and the Ghana Education Service (GES) had identified poor leadership and management, inefficient supervision, lack of accountability, and inadequate teacher training as contributing factors to poor learning outcomes experienced in schools in the country.

    That, Mr Oppong said, was because many school leaders had not undergone professional training for their roles (beyond their years of experience teaching in the classroom), which he said had effects on children’s learning outcomes.

    According to him, the ministry had set up the National Education Institute (NEI) as a permanent institution dedicated to educational leadership training to offer long-term, tailor-made leadership programmes with certification for current and aspiring school heads and staff of agencies under the ministry.

    Learning environment

    The Executive Director of Child and Family Life International, Clara Puni Nyamesem, said the learning environment for childhood development was not limited to school alone but included the home, the Sunday Schools, the mosque and the larger community.

    She said a good outdoor environment helped children learn better and gain healthy brain development, “when they engage in active play such as running, chasing, gardening, sand play, catching and painting than pencil and paperwork.”

    According to her, a child-friendly learning environment was the “third teacher” in childhood education.

    She said it was in that vein that the Child and Family Life International decided to solicit for funds to renovate and fence of the playground of the kindergarten of the Patasi M/A Primary School to promote a good learning environment for children.

    Source: Graphic.com.gh

  • Kwadaso kicks against Alan – Bawumia comparison

    Kwadaso kicks against Alan – Bawumia comparison

    Former New Patriotic Party Member of Parliament for Kwadaso, Samiu Kwadwo Nuamah is against calls for Vice President Mahamudu Bawumia and John Alan Kwadwo Kyerematen to be paired on the party’s presidential ticket for the 2024 elections.

    According to the former MP, the party will rather be dealing unfairly with the two if it heeds to calls for the vice president and the former trade and industry minister to be paired.

    “I don’t know what they mean by merging Bawumia and Alan, we wouldn’t be fair to them if that should happen,” the former MP is quoted in a report by Oyerepafmonline.com sighted by GhanaWeb.

    Mr Nuamah who was reacting to Mr Kyerematen’s announcement of his intent to contest the NPP flagbearership, is the latest of members in the party who have kicked against the idea of pairing the two.

    His belief is that, such a pursuit will go against promoting healthy competition in the party.

    However, those who are proposing for the two to be paired believe that putting the two on a ticket will go a long way to guarantee victory in the NPP in 2024.

    The NPP later this year is expected to elect a flagbearer.

    Mr Kyerematen on Tuesday, January 10, 2022, announced his intent to contest for the NPP flagbearer after he resigned from his position a few days back.

    His resignation has been joined by that of the Minister for Food and Agriculture, Afriyie Akoto who is also expected to announce his bid in the next few days.

    The two join the likes of Assin North MP, Kennedy Ohene Agyapong, former NPP General Secretary Kwabena Agyapong and former Energy Minister Boakye Agyarko who have all announced their intent to contest as the party’s flagbearer.

    While Vice President Bawumia is yet to officially announce his bid, he is deemed one of the lead contenders in the race to elect a flagbearer of the NPP.

    Source: Ghanaweb

  • We’re hopeful Ghana will be able to find some oil and gas near the coast – CEO of national gas company

    We’re hopeful Ghana will be able to find some oil and gas near the coast – CEO of national gas company

    Domestic gas in Ghana is primarily imported from abroad.

    The National Gas Company Limited’s Chief Executive Officer (CEO), Dr. Ben K.D. Asante, revealed this.

    On January 11, 2023, Dr. Asante stated during the State of the Agencies Report at the Ministry of Information, “Our source of gas are from the basin, the Tano basin over there.

    “The basin over there with all those colors is where all of our domestic gas comes from.”

    The CEO of the National Gas Company stated that his company is hopeful that the Voltaian basin would yield some oil and gas for the nation.

    “But we’re hoping that in the not very distant future, we may be able to find some oil and gas onshore in the Voltaian basin.

    “But for now our gas, domestic gas, is all coming from offshore. We also do have some gas coming from Nigeria through the West African Gas pipeline so those are the key sources of our gas today as we know it,” the National Gas Company CEO stated.

  • We will not tolerate illegal fishing activities in Keta – MCE

    We will not tolerate illegal fishing activities in Keta – MCE

    Illegal fishing activities is one major problem being faced by the authorities in the Keta Municipality, a situation which is worrying according to some chief fishermen.

    The MCE for Keta, Emmanuel Gemegah has therefore sent warnings to recalcitrant fishermen involved in Illegal fishing activities to stop immediately or face the wrath of the law. 

    Mr Gemegah gave the warning during a meeting recently held at the Keta Assembly Hall to deliberate on the challenges of the persistent usage of Illegal nets in the municipality, especially Vodza, Kedzikope, Dzelukope and other communities in the Keta municipality. 

    Mr Gemegah noted that the situation has become so rampant that there is no day he does not receive a complaint from residents and fisher folks on illegal fishing.

    Mr Gemegah said there are measures in place to stop the Illegal activities and anyone caught doing illegal fishing will be dealt with without fear or favour. 

    Mr William Agbenu from the Volta Regional Fisheries Commission who presided over the meeting noted that the fisheries commission is doing its best to make sure that the situation is addressed. 

    Mr. Agbenu noted that government or the Commission alone cannot solve the issues on Illegal fishing, but it takes the efforts of residents and the fishermen to help put a stop to the menace. 

    Mr. Kwesi Randolph Johnson, Volta Regional Coordinator of Friends of the Nation (FoN) urged the fishermen to adopt attitudinal change towards the illegal activities. 

    Mr Johnson noted that it can only take the efforts of the fishermen to make a positive change in the fishing industry. This, he said is by they deciding not to be involved in the illegal fishing activities. 

    The fishermen at the meeting lamented how some of their colleagues have refused to adhere to warning from the Minister and other authorities to put a stop to the Illegal fishing activities in the area.

    They noted that in as much as they try to help their colleagues stop the Illegal activities, some of them still do it secretly making it difficult for others who have resolved not to engage in the Illegal fishing activities to stay away from the Illegal activities. 

    Some of the fishermen complained about the use of light and inappropriate nets in fishing thereby destroying the fishes and the sea in the process.

    They noted that there is the urgent need for government through the Assembly to put in stiff measures against the illegal activities in the area.

    The situation, they say, is becoming too rampant and thus affecting the activities of the trade negatively.  Some residents who had a conversation with the media noted that there are some recalcitrant fishermen and net owners who have refused to heed to the calls of the Minister and executives of the Council to put a stop to the illegal light fishing in the coastal towns.

    According to them over 50 boats are seen on the sea doing light fishing and also use some dangerous green chemical, especially in the night, hence destroying the fishes in the sea.

    Source: myjoyonline

  • The seven-day-a-week life of a maid for Qatar’s royal and rich

    The seven-day-a-week life of a maid for Qatar’s royal and rich

    Qatar’s human rights record is under scrutiny as the World Cup takes place in Doha. A lot has been written about the treatment of migrant workers who built the stadiums and hotels, but much less about the foreign maids who work for Qatar’s ruling classes.

    On paper, their rights have been strengthened in recent years – but the new rules aren’t always followed.

    I make contact with Gladys (not her real name) late at night after her employers from the Qatari elite have gone to bed.

    In a brief online conversation, she tells me she works from 8am to 11pm every day. She cleans, helps prepare food and looks after the children.

    She eats what’s left from the family’s meals, and says she hasn’t had a day off since she started 18 months ago.

    “Madam is crazy,” Gladys, a Filipina woman in her 40s, says about her employer. “She shouts at me every day.”

    Before Qatar won the competition to host the 2022 World Cup, foreign workers were unable to change jobs or leave the country without their employer’s permission. It’s still like this in most Gulf states.

    Under scrutiny, Qatar began to introduce reforms, but Amnesty International says these have failed to end a pattern of abuses faced by domestic workers.

    For example, Gladys’s employer has held on to her passport, preventing her from leaving without his consent.

    But Gladys still feels lucky. At least she has been allowed to keep her phone, she says, unlike some other foreign maids. Also, she is not physically abused. In Qatar, this happens all too often, she says.

    There is another reason she wants to stay in her current job – she thinks it’s unlikely at her age that she will get a better one. She earns 1,500 rials a month (just under £350) and is able to send it all home to support her family.

    Domestic workers’ rights

    • There are an estimated 160,000 foreign domestic workers in Qatar, according to 2021 data from Qatar’s Planning and Statistics Authority
    • In 2017 Qatar introduced the Domestic Workers Law, which limits working hours to 10 hours a day, and requires daily breaks, a weekly day off and paid holidays
    • In 2020 it also introduced a minimum wage and gave workers the right on paper to change jobs or leave the country without seeking permission
    • However, Amnesty International says these laws have not been properly implemented or enforced and extreme overwork, lack of rest, and abusive and degrading treatment continue

    Joanna Concepcion of Migrante International, a grassroots organisation supporting Filipino overseas workers, says that many keep quiet about bad working conditions because earning money for their families is their overriding priority.

    But when those in Gulf states do feel confident enough to talk freely, she says, they often mention serious abuse.

    One woman said her employer would push her head into a toilet basin and deny her food and water when he was angry.

    The seven-day-a-week life of a maid for Qatar's royal and rich

    By contrast, a maid employed by the ruling royal Al Thani family, says she is treated well – but she has no day off, as all workers now should under the new rules.

    Smiley and animated, Althea (not her real name) video calls the BBC from the basement of a royal residence. She explains that her employers have given her an iPhone, clothes, jewellery and shoes of a kind she couldn’t afford back home in the Philippines.

    As in Gladys’s case, it’s the difficulty of earning a living wage at home that has brought her here.

    As we speak, other Filipino domestic workers, who share a large room in Althea’s living quarters, say Hi and join the call.

    They have their own bedrooms and a shared kitchen. This is important. The maids Althea sees on TikTok and Facebook begging for food, and pleading for someone to rescue them, are not as fortunate.

    “I see those videos online all the time, which is why I feel so lucky,” she says. “For me, every day feels like a fairy tale.”

    Nonetheless, it’s hard work in these “Cinderella palaces” as she refers to them, with their high ceilings and chandeliers, antiques inlaid with gold, mother-of-pearl table tops, and freshly cut flowers.

    The day generally begins at 6:30am, when staff prepares breakfast for the family. Althea eats once the family has finished. After clearing away, they clean the rooms and set places for lunch.

    “It is light work because there are many of us,” Althea says.

    Maids rest in their flats between 3pm and 6pm, then prepare for dinner. Once dinner is over, Althea has finished work, and is free to leave the compound if she wants.

    The royal family doesn’t hold on to her passport. But Althea does work every day, including weekends. She doesn’t get the day off that Qatari law is now supposed to guarantee. It’s a price she pays for providing her family with vital financial support.

    Mary Grace Morales, a recruiter in Manila who pairs Filipino staff with VIPs in the Gulf, says working for the palace is an “enviable” job.

    “The family is generous,” she says. And, in a comment reflecting the hardships the maids may have faced at home, she adds: “The girls get fatter while they are in the palace. The family feeds them well.”

    The seven-day-a-week life of a maid for Qatar's royal and rich
    Mary Grace Morales: The palace wants “very pretty” staff no older than 35

    But the royals have some very specific requirements, she reveals.

    “The girls sent to work for the Qatari royal family are between 24 and 35 and very pretty,” Ms Morales says.

    She pauses to look at the screen where I stare back at her from the BBC headquarters in London.

    “Prettier than you,” she says, smiling.

    She later sends a WhatsApp to apologise, as her children overheard and said she had been rude. I assure her I was not offended – and don’t mention that hiring people on the basis of their looks would be illegal in many countries.

    Joanna Concepcion, of Migrante International, says she hopes Althea’s account of working as a royal maid is true but adds: “It’s unlikely that we can know that for certain while she is still in Qatar and working for such a powerful family.”

    Some royal staff have complained after leaving the country. In 2019 three British and American workers – a bodyguard, personal trainer and private tutor – sued the emir’s sister, Sheikha al Mayassa bint Hamad bin Khalifa Al Thani and her husband, in New York, alleging that they had been made to work long hours without overtime.

    The couple denied the allegations and settled without any admission of liability.

    “Reporting and addressing cases of violence and harassment, lack of occupational safety and health, and lack of decent accommodation can be challenging,” says International Labour Organization (ILO) regional director for Arab states, Ruba Jaradat.

    The ILO says it is working with Qatar to implement the new rules guaranteeing a minimum wage, a day off each week, sick leave and overtime payments, although this remains “a challenge”.

    Althea, in her royal palace, says she is happy despite the long hours.

    When she goes to bed she will message one of her siblings or parents in the Philippines. She often feels homesick – a fairytale palace is not home.

    However, it remains a crucial source of income.

    “I could never support my family without this job,” she says.

    The BBC asked the Qatari royal family and the Qatari embassy in London to comment but received no reply.

    Source: BBC

  • Liverpool hand new long-term deal to youngster Morton

    Liverpool hand new long-term deal to youngster Morton

    Liverpool have handed a new long-term contract to midfielder Tyler Morton, who is impressing on loan with Blackburn Rovers this season.

    The 20-year-old played nine times for Liverpool in 2021-22, featuring in high-profile matches against the likes of Arsenal and Milan.

    Morton was then loaned out to Blackburn to get more regular first-team experience and has made 28 appearances for Jon Dahl Tomasson’s side, who sit third in the Championship.

    He has played in every league match so far as Rovers push for promotion to the Premier League.

    After signing fresh terms with Liverpool on Wednesday, Morton expressed his excitement.

    “I’m absolutely buzzing,” he said. “The little dream is coming true, so I couldn’t be happier.

    “I’ve known for a little while and it’s been ongoing, and I couldn’t wait to get it over the line because this is the place I want to be and this is the club I want to be at. 

    “I’m absolutely buzzing and I can’t wait for the future.

    “I’ve been extremely proud of myself for how I’ve handled the loan so far. Hopefully I carry that on and take it into the next half of the season.

    “I feel like I’m progressing every day and learning new things on and off the pitch. 

    “It’s a lovely environment to learn and turn myself into a professional – and I think I’m doing that quite well. Hopefully it sets me up for what’s to come in the future.”

  • Ozone layer recovery on track to prevent a 0.5°C increase in global warming

    Ozone layer recovery on track to prevent a 0.5°C increase in global warming

    “The ozone layer is on track to recover within four decades, with the global phaseout of ozone-depleting chemicals already benefiting efforts to mitigate climate change.”

    This is the conclusion reached by an expert panel supported by the UN, which was announced on Monday at the 103rd annual meeting of the American Meteorological Society. The panel examined cutting-edge technologies like geoengineering for the first time and issued a warning about unintended consequences for the ozone layer.

    The ozone layer has been successfully protected by the phase-out of nearly 99% of banned ozone-depleting substances, according to the UN-backed Scientific Assessment Panel to the Montreal Protocol on Ozone Depleting Substances quadrennial assessment report, which is published every four years.

    This has resulted in a notable recovery of the ozone layer in the upper stratosphere and a reduction in human exposure to dangerous ultraviolet (UV) rays from the sun.

    “If current policies remain in place, the ozone layer is expected to recover to 1980 values (before the appearance of the ozone hole) by around 2066 over the Antarctic, by 2045 over the Arctic and by 2040 for the rest of the world. Variations in the size of the Antarctic ozone hole, particularly between 2019 and 2021, were driven largely by meteorological conditions. Nevertheless, the Antarctic ozone hole has been slowly improving in area and depth since the year 2000.”

    “That ozone recovery is on track according to the latest quadrennial report is fantastic news. The impact the Montreal Protocol has had on climate change mitigation cannot be overstressed. Over the last 35 years, the Protocol has become a true champion for the environment,” said Meg Seki, Executive Secretary of the United Nations Environment Programme’s Ozone Secretariat.

    “The assessments and reviews undertaken by the Scientific Assessment Panel remain a vital component of the work of the Protocol that helps inform policy and decision-makers about climate change effects.”

    The positive effect that the treaty has already had on the climate is reaffirmed in the 10th edition of the Scientific Assessment Panel. The Kigali Amendment to the Montreal Protocol, a separate 2016 agreement, mandates a phase-down in the production and consumption of some hydrofluorocarbons (HFCs).

    HFCs are potent climate change gases, even though they do not directly reduce ozone. According to the Scientific Assessment Panel, this amendment is expected to prevent warming by 0.3 to 0.5°C by 2100. (this does not include contributions from HFC-23 emissions).

    “Ozone action sets a precedent for climate action. Our success in phasing out ozone-eating chemicals shows us what can and must be done – as a matter of urgency – to transition away from fossil fuels, reduce greenhouse gases and so limit temperature increase,” said WMO Secretary-General Prof. Petteri Taalas.

    A large international group of experts, including many from the World Meteorological Organization (WMO), United Nations Environment Programme (UNEP), National Oceanic and Atmospheric Administration (NOAA), National Aeronautics and Space Administration (NASA), and European Commission, have based the most recent assessment on extensive studies, research, and data.

    Geoengineering

    The Scientific Assessment Panel examined the potential effects on ozone of stratospheric aerosol injection, or the deliberate addition of aerosols into the stratosphere, for the first time (SAI). The use of SAI has been suggested as a potential strategy to lessen global warming by increasing solar reflection.

    Yet the panel cautions that unintended consequences of SAI “could also affect stratospheric temperatures, circulation and ozone production and destruction rates and transport.”

    Source: myjoyonline

  • Developing countries would be heavily hurt by a sharp, protracted recession – World Bank

    Developing countries would be heavily hurt by a sharp, protracted recession – World Bank

    In light of increasing inflation, higher interest rates, decreased investment, and interruptions brought on by Russia’s invasion of Ukraine, the World Bank’s most recent Global Economic Prospects report indicates that the world economy is currently contracting severely.

    Any additional negative incident, such as higher-than-expected inflation, abrupt increases in interest rates to curb it, a revival of the COVID-19 pandemic, or growing geopolitical tensions, might send the world economy into recession given the precarious economic conditions.
    Two worldwide recessions occurring within the same decade would be a first in more than 80 years.

    The global economy is projected to grow by 1.7% in 2023 and 2.7% in 2024. The sharp downturn in growth is expected to be widespread, with forecasts in 2023 revised down for 95% of advanced economies and nearly 70% of emerging market and developing economies.

    Over the next two years, per-capita income growth in emerging market and developing economies is projected to average 2.8%—a full percentage point lower than the 2010-2019 average. In Sub-Saharan Africa—which accounts for about 60% of the world’s extreme poor—growth in per capita income over 2023-24 is expected to average just 1.2%, a rate that could cause poverty rates to rise, not fall.

    “The crisis facing development is intensifying as the global growth outlook deteriorates,” said World Bank Group President David Malpass. “Emerging and developing countries are facing a multi-year period of slow growth driven by heavy debt burdens and weak investment as global capital is absorbed by advanced economies faced with extremely high government debt levels and rising interest rates. Weakness in growth and business investment will compound the already-devastating reversals in education, health, poverty, and infrastructure and the increasing demands from climate change.”

    Growth in advanced economies is projected to slow from 2.5% in 2022 to 0.5% in 2023. Over the past two decades, slowdowns of this scale have foreshadowed a global recession. In the United States, growth is forecast to fall to 0.5% in 2023—1.9 percentage points below previous forecasts and the weakest performance outside of official recessions since 1970. In 2023, euro-area growth is expected at zero percent—a downward revision of 1.9 percentage points. In China, growth is projected at 4.3% in 2023—0.9 percentage point below previous forecasts.

    Excluding China, growth in emerging market and developing economies is expected to decelerate from 3.8% in 2022 to 2.7% in 2023, reflecting significantly weaker external demand compounded by high inflation, currency depreciation, tighter financing conditions, and other domestic headwinds.

    By the end of 2024, GDP levels in emerging and developing economies will be roughly 6% below levels expected before the pandemic. Although global inflation is expected to moderate, it will remain above pre-pandemic levels.

    The report offers the first comprehensive assessment of the medium-term outlook for investment growth in emerging market and developing economies. Over the 2022-2024 period, gross investment in these economies is likely to grow by about 3.5% on average—less than half the rate that prevailed in the previous two decades. The report lays out a menu of options for policy makers to accelerate investment growth.

    “Subdued investment is a serious concern because it is associated with weak productivity and trade and dampens overall economic prospects. Without strong and sustained investment growth, it is simply impossible to make meaningful progress in achieving broader development and climate-related goals,” said Ayhan Kose, Director of the World Bank’s Prospects Group. “National policies to boost investment growth need to be tailored to country circumstances but they always start with establishing sound fiscal and monetary policy frameworks and undertaking comprehensive reforms in the investment climate.”

    The report also sheds light on the dilemma of 37 small states—countries with a population of 1.5 million or less. These states suffered a sharper COVID-19 recession and a much weaker rebound than other economies, partly because of prolonged disruptions to tourism.

    In 2020, economic output in small states fell by more than 11%— seven times the decline in other emerging and developing economies. The report finds that small states often experience disaster-related losses that average roughly 5% of GDP per year. This creates severe obstacles to economic development.

    Policymakers in small states can improve long-term growth prospects by bolstering resilience to climate change, fostering effective economic diversification, and improving government efficiency. 

    The report calls upon the global community to assist small states by maintaining the flow of official assistance to support climate-change adaptation and help restore debt sustainability.

  • Bolgatanga Municipal exceeds COVID-19 vaccination target for festive season

    Bolgatanga Municipal exceeds COVID-19 vaccination target for festive season

    The Bolgatanga Municipal Health Directorate of the Ghana Health Service has exceeded its COVID-19 vaccination target for the Christmas and New Year festivities. 

    With a target of 6,599 people to vaccinate, the Municipal Health Directorate vaccinated 10,482 people to exceed its target.

    The Ghana Health Service, in collaboration with partners and with funding from the World Health Organisation (WHO), declared a nationwide COVID-19 vaccination campaign during the yuletide. 

    The move was to combat the spread of the virus and the emergence of new strains from other countries, particularly China.  

    Mr Stephen Bordotsiah, the Bolgatanga Municipal Health Director, told the Ghana News Agency in an interview that cumulatively, 78.1 per cent of the area’s population had been fully vaccinated while 97.3 per cent had received at least a single dose. 

    He reiterated staff commitment to ensuring that the Municipality attained the target of 80 per cent fully vaccinated population and head immunity to help fight any spread of the virus. 

    “We are not doing badly at all as a municipality, we hope to achieve head immunity by the end of January 2023, hoping that at least we will cross the 80 per cent full vaccination rate,” he said. 

    Mr Bordotsiah noted that vaccination, coupled with laid down precautionary measures, are key in combating the spread of the virus and encouraged stakeholders to support demystifying the vaccination process. 

    That, he said, would enable more people to avail themselves to be vaccinated against the disease. 

    COVID-19 is an infectious disease caused by the SARS-CoV-2 virus. It can spread from an infected person’s mouth or nose in small liquid particles when the person coughs, sneezes, speaks, sings or breathes. These particles range from larger respiratory droplets to smaller aerosols. 

    One can be infected by breathing in the virus if near someone who has the disease. 

    Source: myjoyonline

  • Resign if you want to contest NPP presidential primaries – Group to Akufo-Addo appointees

    Resign if you want to contest NPP presidential primaries – Group to Akufo-Addo appointees

    A pro-NPP youth group in the Upper West Region wants all government appointees and members of the New Patriotic Party (NPP) currently holding offices to relinquish their post if they intend to contest the party’s flagbearership race.

    The group is urging such persons to follow the steps of the Former Minister for Trade and Industry, Alan Kyerematen and the Minister for Agriculture, Owusu Afriyie Akoto who recently resigned to focus on the NPP race.

    Addressing a press conference in Wa, the convener of the group, Ahmed Marzuk said, “we would like to use this medium to urge all current ministers and party members holding other portfolios in government who intend to run for the NPP flagbearer position to follow the example of Alan and resign.”

    The Former Minister for Trade and Industry, Alan Kyerematen and Minister of Food and Agriculture, Dr, Owusu Afriyie Akoto have quit their ministerial positions to contest the NPP flagbearership race.

    Meanwhile, the party has fixed January 31 to announce dates for the primaries.

    Other emerging names including Vice President Dr, Mahamudu Bawumia, Kennedy Agyepong, Kwabena Agyepong, Joe Ghartey, are yet to openly announce their interest in the presidential slot of the NPP.

    Source: Ghanaweb

  • At the end of 2022, the recession slows down

    At the end of 2022, the recession slows down

    Even though the private sector in Ghana was still in contraction by the end of 2022, there were indications that the downturn was abating over the most recent survey period.

    Along with a strong improvement in business mood, inflationary pressures also started to ease in December as the value of the dollar started to rise.

    For the eleventh consecutive month in December, the S&P Global Ghana Purchasing Managers’ IndexTM (PMI®) dipped below the 50.0 no-change threshold, indicating a steady deterioration in the health of the private sector.
    With a value of 47.0, the most recent indication of business conditions showed a significant fall, but it was up from 44.9 in November and suggested the least extreme downturn since July 2022.

    Signs of the downturn losing pace were evident with regard to both business activity and new orders in December. Output was down for the twelfth month running, albeit to the least extent since August. Meanwhile, firms posted a tenth successive fall in new orders. In both cases, reductions were linked to the impact of price pressures on demand – with deteriorating economic conditions and financial difficulties at customers also mentioned. That said, there were some signs of conditions improving at end of the year.

    One source of the tentative improvement was a softening of inflationary pressures. Although purchase costs continued to rise sharply, the rate of inflation slowed rapidly from that seen in November – as the Ghana cedi’s recent appreciation against the US dollar reversed some of the upward pressure caused by currency weakness earlier in the year.

    Similarly, the pace of output price inflation was also much weaker; coming down from the survey record posted in the previous survey period, but remaining above the series average.

    With living costs remaining elevated, firms looked to help employees by raising pay, leading to a further solid increase; softer falls in output and new orders;

    And a sharp slowdown in inflation of purchase costs and output prices.

    Latest data signalled a stabilisation of employment as some companies looked to maintain capacity. That said, falling workloads and cost considerations led other firms to lower staffing levels further. Meanwhile, backlogs of work were again down markedly.

    A combination of falling workloads and still high prices led companies to scale back both their purchasing activity and inventory holdings in the year’s final month. That said, in line with the picture for demand and activity, both input buying and stocks of purchases decreased to lesser extents than was the case in November.

    Weak demand for inputs meant a continued lack of capacity pressure for suppliers, enabling them to shorten delivery times for the seventeenth consecutive month. The improvement in vendor performance was however slightly less pronounced than that seen in November.

    The aforementioned cedi appreciation against the US dollar boosted confidence among companies in December. Optimism rose sharply over the month and to reach the highest since April 2022. Moreover, confidence was above average since the series began nine years ago. More than 75% of respondents expressed a positive outlook for output over the course of 2023, against just 4% that were pessimistic.

    Andrew Harker, Economics Director at S&P Global Market Intelligence, said: “Although business conditions remained challenging for companies in Ghana at the end of 2022, there were some tentative signs that the worst of the current downturn may have passed. A staff-level agreement with the IMF has helped the currency to appreciate, in turn softening inflation and providing some respite for firms in their efforts to secure new business. Hopes are now that these improvements can continue into 2023. S&P Global Market Intelligence is currently forecasting a rise in GDP of 3.5% in 2023, down from 4.6% in 2022”.

  • Alan ‘Cash’ got these reactions from Ghanaians after flagbearership declaration

    Alan ‘Cash’ got these reactions from Ghanaians after flagbearership declaration

    The Former Minister of Trade and Industry, Alan Kyerematen, on Tuesday, January 10, 2022, officially announced his intention to contest in the presidential primaries of the ruling New Patriotic Party (NPP).

    Some of the statements he made during the declaration have become topics for discussion among many Ghanaians.

    Some Ghanaians, on social media, have commended him for the key strategies under his Great Transformational Plan (GTP) which he said will transform Ghana’s economy between 2025 and 2030.

    Others, however, are not so enthused about some of the pronouncements he made and are questioning why he could not attain some of the things he outlined, particularly his promise to operationalize the Komenda Sugar factory since he had been the trade minister for 6 years.

    A one-time parliamentary aspirant of the (NPP) for Kpone Katamanso Constituency, Hopeson Adorye, in posts shared on Facebook, described Alan as a transformational leader.

    “Fellow Country men and women,” his first post read. The second read: “Transformational leader. #AlanCash.”

    “Mr. Alan John Kojo Kyeremanten @AlanKyerematen says he will roll out GTP, the ‘Great Transformational Plan’ for Ghana. That’s an interesting name, GTP, one that will catch on very easily and become the talk of town,” broadcaster, Kafui Dey wrote on Twitter.

    “Alan Kyeremanten says there are things he believed could have been done differently in the current administration that he’s exiting. Would be interesting to know what those things are/were,” he added.

    Another Twitter user, Uncle Paa Kwesi, said Alan cannot even win a university election with his declaration of intent.

    Another Tweep also questioned Alan’s promise to operationalize the Komenda Sugar Factory; saying, “Six years in Office Alan Kyerematen Failed to operationalize Komenda Sugar Factory,” he said.

    Source: Ghanaweb

  • Resignation of Agric Minister long-overdue – Agribusiness Chamber

    Resignation of Agric Minister long-overdue – Agribusiness Chamber

    The Chief Executive of the Agribusiness Chamber, Anthony Morrison, has welcomed the resignation of Minister for Food and Agriculture, Dr. Owusu Afriyie Akoto, stating that stakeholders have been clamouring for his exit long ago.

    He suggested that agriculture needs a required expertise to grow the sector.

    According to him, the stakeholders in the sector have been expecting the Minister to be changed long ago.

    “It is a welcoming news. He has stayed at the ministry for six years. A lot of people, including myself, have been advocating for a reshuffle to bring in someone who can engage the sector very well,” Mr. Morrison said.

    Providing some personalities that could handle the ministry, Mr. Morrison suggested Professor Eric Dankwa Yirenkyi and Dr. Wilfred Hammond as best fits to replace the outgoing Minister for Food and Agriculture.

    “For us, we think there are many experts in the sector that we can count on. We know of Professor Eric Dankwa Yirenkyi who has achieved global laurels and awards and a huge personnel in the African and global agriculture space. We know of Dr. Foster Boateng who was West Africa Director for Alliance for a Green Revolution in Africa (AGRA). Also, we know of Dr. Winfred Hammond who was a Former Deputy Agric Minister and former Country Director for FAO in Liberia and Sierra Leone. I believe that there are huge potentials in these three agric experts,” he said.

    Mr. Morrison also highlighted the need to choose someone who is involved in academia, industry and has a relationship with development partners.

    “We can go further to talk about the likes of Dr. Henry Anim-Somuah and Professor Irene Agyiri, whose efforts and activities have contributed a lot to the sector. Notwithstanding, we need to look for a personality who is in academia, industry involved and works with funding organisations. We need not forget that we must pick someone who development partners are happy to work with,” he emphasised.

    Source: myjoyonline

  • World Cup 2022: Ghana received $9.5 million despite early exit – Henry Asante Twum

    World Cup 2022: Ghana received $9.5 million despite early exit – Henry Asante Twum

    Communications Director of the Ghana Football Association [GFA], Henry Asante Twum has revealed that the country had $9.5 million after exiting at the group phase of the 2022 World Cup in Qatar.

    The West African country made a return to the Mundial after securing qualification at the expense of Nigeria.

    Having been housed in Group H, Ghana opened their campaign with a defeat against Portugal.

    In the second group game, the Black Stars recorded a 3-2 win over South Korea.

    Heading into the final group game, Ghana needed a draw against Uruguay to book a place in the last 16 but the team suffered a 2-0 defeat against the two-time world champions.

    However, Asante Twum speaking in an interview revealed that the country received the said amount despite exiting at the group phase of the tournament in the Gulf country.

    “Ghana earned $9.5 million at the group stage of the World Cup,” he told Asempa FM.

    Meanwhile, the Black Stars are expected to reassemble in March for the doubleheader against Angola in the 2024 Africa Cup of Nations [ACFCON] qualifiers with a new head coach expected to be announced this month.

  • Forex bureaus sell $1 at GH¢12.30, GH¢9.01 on interbank market as of January 11

    Forex bureaus sell $1 at GH¢12.30, GH¢9.01 on interbank market as of January 11

    Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.

    The Interbank forex rates from the Bank of Ghana today, January 11, 2023, have shown that the Ghana Cedi is trading against the dollar at a buying price of 9.0052 and a selling price of 9.0142.

    As compared to yesterday’s trading of a buying price of 9.0002 and a selling price of 9.0092. At a forex bureau in Accra, the dollar is being bought at a rate of 11.60 and sold at a rate of 12.30.

    Against the Pound Sterling, the Cedi is trading at a buying price of 10.9359 and a selling price of 10.9487 as compared to yesterday’s trading of a buying price of 10.8110 and a selling price of 10.8237.

    At a forex bureau in Accra, the pound sterling is being bought at a rate of 13.80 and sold at a rate of 14.70.

    The Euro is trading at a buying price of 9.6581 and a selling price of 9.6685 as compared to yesterday’s trading of a buying price of 9.5361 and a selling price of 9.5455.

    At a forex bureau in Accra, Euro is being bought at a rate of 11.80 and sold at a rate of 12.70.

    The South African Rand is trading at a buying price of 0.5278 and a selling price of 0.5282 as compared to yesterday’s trading of a buying price of 0.5221 and a selling price of 0.5226.

    At a forex bureau in Accra, South African Rand is being bought at a rate of 0.60 and sold at a rate of 1.00.

    The Nigerian Naira is trading at a buying price of 51.1604 and a selling price of 51.2115 as compared to yesterday’s trading at a buying price of 51.1522 and a selling price of 51.2077.

    At a forex bureau in Accra, Nigerian Naira is being bought at a rate of 12.50 Naira for every 1 Cedi and sold at a rate of 17.50.

  • I don’t see what Alan will do differently – GAWU General Secretary

    I don’t see what Alan will do differently – GAWU General Secretary

    General Secretary of the General Agricultural Workers’ Union (GAWU), Edward Kareweh has cast doubts on the effectiveness of Alan John Kyerematen’s policies in his bid to become flagbearer of the New Patriotic Party (NPP).

    Mr. Edward explained that Mr Kyerematen’s policies are generalised, making it difficult to conclude that such policies are not doable.

    “I believe all that happened had cabinet endorsement and he was one of them. So I’m not seeing what he could come to do differently. If he then becomes the president, he’s not the person who’s going to implement those policies,” he said on Wednesday.

    I don't see what Alan will do differently - GAWU General Secretary

    Speaking on JoyNews’ News Desk, the union’s General Secretary insisted that the trajectory in the roll-out of policies by former Trade Minister’s government leaves questions about his latest announcement.

    “It’s his ministers like him as he is today who’s not a president that implement policies. So I’m not too sure that if he becomes the president and he has these ideas and then you have a minister to implement those policies, he can guarantee that those policies would be properly implemented.

    “So if he’s still talking about generalities, and when you’re are the point of generalities, it is very difficult for one to say it is not doable. But when it comes to the details, what we know, the experience that we already have in this country, particularly with his government gives a lot of doubt,” he added.

    However, a Marketing Consultant at the University of Education, Winneba, Dr. Bernard Tutu-Boahene is of the view that Mr Kyerematen’s speech reflects an acknowledgment of the “good things that the Akufo-Addo led government had done and he believes that there’s still room for improvement.”

    According to him, “the fact that he was serving in the Akufo-Addo-led government doesn’t mean that he was part of, he probably agreed with it.”

    He said Mr Kyeremanteng’s speech only reveals that he could have done things differently if given the nod.

    The former Trade Minister announced his resignation on January 10, 2023, to pursue his presidential ambition.

    The 67-year-old politician is seeking to file nomination to contest in the flagbearership race of the governing NPP.

    “I wish to use this platform to formally announce my decision to contest the flagbearership of the New Patriotic Party when the Party officially opens nominations for that purpose,” he said in a televised broadcast.

    Some policies revealed in his speech include; Downsizing of government, New Agricultural Revolution (NAR) for Ghana, a Strong Macroeconomic Environment amongst others which are classified under one title called the “Great Transformational Plan” (GTP).

    Following his resignation was another resignation of the Minister of Food and Agriculture, Dr. Owusu Afriyie Akoto who is also seeking to contest in the flagbearership race.

    Source: Myjoyonline

  • Alan Kyerematen unveils the Great Transformational Plan (GTP)

    Alan Kyerematen unveils the Great Transformational Plan (GTP)

    Aspiring flagbearer of the New Patriotic Party, Alan John Kwadwo Kyerematen, has outlined a five-year strategic plan which he describes as Great Transformational Plan (GTP) to develop Ghana.

    Addressing the nation Tuesday night, the former Trade and Industry Minister called on Ghanaians to make bold sacrifices in preparation for a promising future.

    The Plan, which is expected to span from 2025 to 2030, he said, assures the attainment of an independent future.

    The seven pillars of his plan, he itemised in his address to Ghanaians, are; the primacy of the Private Sector in our national development agenda, attitude to work and enforcement of discipline, corruption and petty theft or thievery, the arrogance of power, passion for excellence, focus more on getting things done than talking, and the too divisive nature of politics in Ghana.

    “The primacy of the Private Sector in our national development agenda. The Government’s focus must be to facilitate the process of making our private sector competitive, by creating an enabling environment for businesses.

    “Attitude to work and enforcement of discipline. We as a people should appreciate the need for discipline in all spheres of our national lives and change our attitude to work.  It is your duty to ensure that you earn your living from the efforts of your labour.

    Corruption and petty theft or thievery, particularly from the public purse, deny our country the benefit of utilizing its tax revenue and other resources for the development of our country.

    The arrogance of power has been a major obstruction to progress in our country.  In servant leadership, humility is an asset and not a weakness.

    Passion for excellence. As a country we must celebrate competence and excellence and not mediocrity.

    As a people, we must focus more on getting things done than talking. Ghana is gradually becoming a NATO country – “No Action Talk Only”. What Ghana needs now are solutions and actions not debates.

    And last but not the least, our politics in Ghana is too divisive. This keeps out some of our best talents in offering themselves for political appointments,” parts of his speech read.

    The politician also used the platform to officially announce his Presidential dreams with the confirmation of his availability for the upcoming NPP presidential primaries. He pledged to be a transformational leader if given the mandate first within the NPP and Ghanaian voters at large.

    “If by the will of God and through your goodwill, I am voted first, as the flagbearer of the NPP and subsequently as President of the Republic in the next general elections, I will become the transformational leader of our time, who will build on the foundations laid by successive leaders of our nation over the last 65 years.

    “To achieve this strategic goal of transforming our dear country to become the shining star of the new Africa, I will as President, launch and lead the execution of the Great Transformational Plan (GTP) of Ghana which will span the period 2025 to 2030”, the outgoing Trade and Industry Minister confirmed.

    Mr Kyerematen tendered in his resignation letter as Trade and Industry Minister on Thursday January 5, 2023, which has since been accepted by President Akufo-Addo.

    Source: Myjoyonline.com

  • Bedridden artist needs GH¢220k for spinal surgery

    Bedridden artist needs GH¢220k for spinal surgery

    What was planned as a fun ride with his friends resulted in a battle with pain and sorrow. Kwaku Duah, a 32-year-old artist, fractured his spinal cord in a motor accident.

    The father of two is desirous to get back on his feet to cater for his family, but needs almost GH¢220,000.00 for surgery. 

    Bedridden artist needs GH¢220k for spinal surgery

    As a twenty-six-year-old student of the Tweneboah Kodua Senior High School, the proficient sculptor was involved in a motor accident at Drobonso in the Ashanti Region.

    Today, at 32 years, Kwaku Duah continues to battle for his life.

    “I am being carried to do anything I want to do. My condition is getting worse. I have really suffered. I doubt you could enter this room if you had seen me earlier” he indicated.

    Bedridden artist needs GH¢220k for spinal surgery

    The father of two is suffering from a fractured spinal cord which has left him bedridden with multiple bed sores for the past four years.

    His wife is jobless and caring for their two children has become a burden.

    “Anytime I see my wife and my kids, I get very sad. Am I going to sit here and watch them like this? While I could work to feed them?” he asks.

    Bedridden artist needs GH¢220k for spinal surgery

    In tears, Kwaku Duah, says his condition is an obstruction to the quest to meet his family’s needs. He had earlier been discharged from the Komfo Anokye Teaching Hospital and Focus Hospital because relatives could not afford the cost of treatment.

    73-year-old Thomas Oppong has been helping Kwaku and his family since the incident occurred.

    “Looking at his condition, I try my best to afford whatever he wants even when I don’t have money. I have decided to give him GH¢100 a week to fend for himself and his family” he said.

    Bedridden artist needs GH¢220k for spinal surgery

    Doctors say he urgently needs over GH¢220,000.00 to undergo his surgical treatment before he could walk.

    Kwaku Duah and Thomas Oppong are appealing for funds for the surgery.

    Source: Myjoyonline

  • Alan Kyerematen claims that Ghana’s economy is still insecure

    Alan Kyerematen claims that Ghana’s economy is still insecure

    The Ghanaian economy, according to outgoing Minister of Trade and Industry Alan Kyeremanten, is currently frail, vulnerable, and susceptible to both domestic and international shocks.

    On January 10, 2023, he stated this to the country in a broadcast speech.

    He made it official at the speech that he intended to seek the New Patriotic Party’s (NPP) candidacy for president. He also described the “GTP,” or Ghana Transformation Plan, a set of transformational initiatives he intended to implement if elected.

    Mr. Kyeremanten stated that Ghana has been to the International Monetary Fund, IMF for seventeen times though the current government promised not to go back to the IMF again. He explained that the recent development for which Ghana has gone back to the IMF is due to the fact that Ghana’s economy is fragile and vulnerable to both external and domestic shocks.

    He added that the vulnerability of the country’s economy is because we are so dependent on the exportation of commodities with no or little value added.

    “This is the seventeenth time that we have gone to the IMF over the last 57 years. We promised never to go back but we have gone back. One of the lessons that we have learnt from the recent developments is that Ghana’s economy is still fragile, vulnerable and susceptible to both external and domestic shocks. This primarily is as a result of the fact that our economy is highly dependent on the export of commodities with little or no value addition,” he said.

    Mr. Kyeremanten expressed his gratitude to the President for the opportunity given him to serve in his cabinet as minister responsible for trade and industries for the past six years.

    He also added that the president has built a very strong foundation for the socioeconomic development of Ghana, which will help his vision to build a superstructure that will bring prosperity to the country.

  • Sebastien Haller returns to action in Dortmund’s friendly win against Düsseldorf

    Sebastien Haller returns to action in Dortmund’s friendly win against Düsseldorf

    Sébastien Haller’s suffering came to an end on Tuesday. The summer signing from Ajax made his Dortmund debut in a friendly against Fortuna Düsseldorf during the training camp in Marbella.

    Last summer, Borussia Dortmund had to disclose the most terrible news. Sébastien Haller, who joined the club will be sidelined indefinitely. Testicular cancer was diagnosed.

    Chemotherapy and surgery were then administered. It was entirely open and also a minor matter when Haller would be on the field for the black and yellow for the first time. The long-awaited return is currently happening faster than predicted.

    The center striker came on in the 74th minute for Youssoufa Moukoko in Tuesday’s 5-1 friendly win over Fortuna Düsseldorf, prompting applause from the crowd. The Ivorian was instantly involved in Dortmund’s attacking game and seemed to be in good physical and mental shape.

    Borussia Dortmund will play their final friendly game against FC Basel on 13th January.

  • Pensions in payment are projected to go up by at least a fixed rate of 20% in 2023 – ACRR

    Pensions in payment are projected to go up by at least a fixed rate of 20% in 2023 – ACRR

    Background

    January is the most important time of the year for pensioners and their dependents, primarily because it is when the Social Security Administration announces the new rates by which monthly pensions of existing retirees will be increased.

    The import of indexation is to restore the purchasing power lost by pensioners in the previous year. Pensions in payment are therefore reviewed by applying an inflation-adjusted index.

    It is therefore expected that SSNIT in consultation with the National Pensions Regulatory Authority (NPRA) will soon announce the new pension indexation rate for 2023.

    How is the Pension Indexation Provision Applied by SSNIT?

    Pension indexation (as provided in section 80 of Act 766), as a means of restoring the purchasing power lost by pensioners in the previous year, is largely dependent on the price inflation index.

    In practice, SSNIT uses consumer price inflation as the main variable for increasing pensions. The Trust, in consultation with the Board of the National Pensions Regulatory Authority, agrees on what is termed as the ‘Overall Rate’ by which pensions will increase for the coming year.

    The overall indexation rate is based on the analysis of several variables which include in particular the projected increase in the cost of benefits for a given rate, and the resulting impact of the proposed indexation rate on the fund (fund ratios).

    Given the Agreed ‘Overall Indexation Rate’, the ‘Fixed Rate’, which is equivalent to the Annual Average Price Inflation Rate of the previous year, and the ‘Flat Amount’ are determined.

    Expected Indexation Rate of 2023

    Likely Fixed Rate of Increase

    As required by the Social Security Act, the Trust awards a fixed rate of increase for each pensioner based on average price inflation. In 2021, the consumer price inflation averaged 9.68% and therefore pensions were increased by a fixed rate of 9.68% in January 2022. In 2022, global economic challenges have eroded the purchasing power of pensioners due to rising prices of goods and services as measured by inflation. The consumer price inflation averaged 29.40%. If SSNIT sticks to the provisions and practice (spanning from 1992), each pensioner on the pension payroll as at 31st December 2022 could see a commensurate monthly increase rate of 29%.

    This level of indexation (29% fixed rate) could however expose the scheme to serious financial sustainability challenges (high inflationary risk). The Trust may apply a scheme sustainability adjustment factor (SSAF) in this year’s indexation. The scheme sustainability adjustment factor essentially ensures that the awarded Fixed Rate of increment is lower than the actual average inflation rate of the previous year. It is there expected that SSNIT might increase pensions by a fixed rate ranging between 20% to 25% in January 2023.

    In 2023, and from a policy perspective, if pensions would be increased at a rate lower than the annual average price inflation (29%), it is expected that the Trust will clearly explain or communicate the reasons for changes in the basis of indexation to stakeholders, especially contributors and pensioners.

    The Minimum Pension Amount Must be Reviewed Upward in 2023

    Both the Social Security Law, 1991, (PNDCL 247) and the National Pension Act, 2008, Act 766 have provided for the payment of minimum pension to poor pensioners (poverty relief).

    To practically sustain the economic welfare of pensioners, the minimum pension, which has stayed at GH300.00 for four successive years (2019, 2020, 2021, and 2022) needs to be reviewed significantly upward in 2023.

    Note that the minimum pension of GHS300.00 represents 30 dollars (using the current exchange rate) per month. This pension amount represents 50% of the value of the national poverty line.

    Trend analysis shows that the minimum pension had consistently increased each year since 2000, and in some cases doubled (2013 and 2014). For the period 2016 to 2021, the minimum pension grew by only 9% whilst the minimum salary of active contributors increased by 47.75% within the period.

    If the level of benefits provided by social protection systems is insufficient in terms of minimum living standards, or are not deliberately designed to protect the poor, and to minimize the social and economic inequalities between the rich and the poor the effort to reduce old age poverty will be jeopardized.

    ****************************************************************************************************************************************************************************************

    The author, Abdallah Mashud is the Executive Director, Africa Centre for Retirement Research (ACRR).

    Source: Myjoyonline| Abdallah Mashud

  • Brandon Thomas-Asante suspended by FA for violent conduct

    Brandon Thomas-Asante suspended by FA for violent conduct

    Brandon Thomas-Asante has been suspended for three matches following a breach of FA Rule E1.1 in Saturday’s FA Cup third-round tie at Chesterfield.

    In the dying seconds of Saturday’s FA Cup third-round match against Chesterfield, the 24-year-old clashed with Jeff King. The FA reviewed the incident which took place in the 92nd minute.

    While King was being treated, Thomas-Asante scored to make it 3-3 and force a rematch.

    He will miss the Championship games against Luton Town and Burnley, as well as the rematch against the Spireites on Tuesday.

    Brandon Thomas-Asante has seven goals in all competitions this season for Albion.

    The Baggies will not appeal the judgement of the Football Association.

    Thomas-Asante has five goals in his previous eight Baggies games, bringing his season total to 12.

    This includes five at the start of the season for Salford, from whom he was bought on deadline day in August by then-Baggies coach Steve Bruce.

  • Akufo-Addo’s challenges similar to King David’s – Most Rev Cyril Smith rallies support for National Cathedral

    Akufo-Addo’s challenges similar to King David’s – Most Rev Cyril Smith rallies support for National Cathedral

    Metropolitan Archbishop of the Anglican Church in charge of the Province of West Africa, is not surprised by the level of opposition President Akufo-Addo has faced in his bid to construct the National Cathedral.

    Most Rev Dr Cyril Ben Smith said the controversy surrounding edifice, which is the President’s personal pledge to God, is reminiscent of the problems encountered by some biblical heroes who set out to do God’s bidding.

    He was speaking at a New Year’s Service at the Jubilee House on Tuesday, January 10, 2023.

    Many experts have criticised the need for the project with the current economic crisis triggering more questions over its timing despite the ¢339 million already sunk into it as of November 2022.

    According to the Archbishop, President Akufo-Addo’s predicament is not far from the suffering of David when he intended to build a temple of worship.

    Akufo-Addo’s challenges similar to King David’s - Most Rev Cyril Smith rallies support for National Cathedral

    “You [Nana Akufo-Addo] and other world leaders, King David faced similar challenges that you are still experiencing. The murmuring of the people and the lamentation from the crowds. The abuse and the lack of understanding of the issues that are clear to God yet David stood resolute in his conviction in theist of opposition.

    He further quoted Psalm 46 to buttress his point adding that Ghanaians must keep faith with the President.

    Meanwhile, President Akufo-Addo has said that the National Cathedral will be built despite the protest by some Ghanaians.

    According to him, come what may, the National Cathedral project will be in its advanced stage before he (the President) leaves office.

    He made this known during a New Year Service with pastors from various denominations in Ghana at Jubilee House on Tuesday, January 10.

    “…I am very encouraged by your words on the National Cathedral. I am very determined that come what may, I have two more years, whatever the case, the National Cathedral will be at a very advanced stage before I leave office. I think it is important that we do it.”

    Source: myjoyonline.com

  • Newcastle United interested RC Lens defender Kevin Danso

    Newcastle United interested RC Lens defender Kevin Danso

    According to Get French Football News and the Wiener Kronen newspaper Premier League side Newcastle United is interested in RC Lens Austrian-born Ghanaian central defender Kevin Danso.

    Kevin Danso, who played for FC Augsburg in the German Bundesliga and FC Southampton in the Premier League, is still under contract with Lensois until June 30, 2026.

    Newcastle United is reportedly willing to invest 36 million euros for Danso, according to the Kronen newspaper. That would give the defender, who started every game for Lens in Ligue 1, two records.

    Kevin Danso would be the most expensive sale from RC Lens. Cheick Doucouré of Mali is the most expensive departure for the 1998 French champions, having cost Crystal Palace €22.6 million in 2022.

    If the deal goes through, Kevin Danso will be the most expensive Austrian footballer of all time. Marko Arnautovic is currently the most expensive Austrian. His move from West Ham United to Shanghai Port in the Chinese Super League in 2019 cost 25 million euros.

  • Next week, affordable petroleum will reach Ghana, – Mireku Duker

    Next week, affordable petroleum will reach Ghana, – Mireku Duker

    According to George Mireku Duker, the deputy minister of lands and natural resources, the first shipment of cheap petroleum will reach Ghana the following week.

    “We are thinking of next week, assuming I’m not exaggerating,” the minister told reporters, expressing optimism.

    The cheaper fuel will most likely arrive “on the 10th, 11th, and 12th of January,” according to sources from myjoyonline.com citing Energy Minister Andrew Egyapa Mercer.

    President Nana Addo Dankwa Akufo-Addo declared in October 2022 that the government was attempting to obtain dependable and consistent sources of affordable petroleum products for the Ghanaian market in an effort to stabilize fuel costs.

    He said this will “halt the escalation of fuel prices and bring relief to us all.”

    After the announcement of the fuel deal with Abu Dhabi, several analysts cast doubt over its success.

    Executive Director at the Institute of Energy Security (IES), Nana Amoasi VII, said “I don’t know who is advising the Energy Minister, because the venture they are undertaking is far from possibility. This is not how the energy sector works, so they should be careful.”

    He was also concerned that government’s decision to secure a deal for cheaper petroleum products was not an attempt to “waste the country’s meagre resources or an attempt to enrich a few people to the detriment of over 30 million Ghanaians or a deliberate attempt to grow the energy sector debt.”

    But the IES boss indicated that should the negotiations go according to plan, government must declare the full discount value which was agreed upon.

    “They must tell Ghanaians what they also gave in return for that favour. And also, we must be very careful, our fear as IES is that they could be giving out something for free in order to get that discount,” he stressed.

    “If there is a market that can give you a cheap discount to beat all the markets all over the world, I am sure the BDCs would have gone for it. So let us be careful of the venture that we are undertaking,” the IES executive director warned.

  • Prince Harry revealed how he found out about his mother Princess Diana’s death

    Prince Harry revealed how he found out about his mother Princess Diana’s death

    He didn’t believe she was dead for a long time.

    The revelations from Prince Harry‘s press tour in promotion of his memoir Spare continue to come out. And the latest set of admissions stem from the duke’s Sunday night interview on 60 Minutes with Anderson Cooper, in which he revealed the moment he found out from his father King Charles that his mother Princess Diana had died in a car crash.

    Cooper recited a passage from Harry’s book, before asking him about his reaction to learning of his mother’s death. “In the book you write, ‘He says, “They tried, darling boy. I’m afraid she didn’t make it.” These phrases remain in my mind like darts on a board,’ you say. Did you cry?” Cooper questioned. Harry replied, “No. No. Never shed a single tear at that point. I was in shock, you know?”

    He continued, “Twelve years old. Sort of — 7, 7:30 in the morning, early. Your father comes in, sits on your bed, puts his hand on your knee and tells you, ‘There’s been an accident.’ I couldn’t believe.”

    Anderson also read an excerpt that stated the manner in which King Charles told his son. “You write in the book, ‘Pa didn’t hug me. He wasn’t great at showing emotions under normal circumstances. But his hand did fall once more on my knee and he said, ‘It’s going to be OK.’ But after that, nothing was OK for a long time,’” Anderson read.  “No, nothing, nothing was OK,” Harry confirmed.

    :

    The Duke of Sussex also spoke about his disbelief surrounding his mother’s passing. This denial went on for years, Harry told Cooper. “For a long time, I just refused to accept that she was gone,” Harry said. “Part of, you know, she would never do this to us, but also part of, maybe this is all part of a plan.”

    Cooper interjected, “You really believed, that maybe she had just decided to disappear for a time?” Harry responded that both he and his brother Prince William believed this. “For a time, and then that she would call us and that we would go and join her, yeah.” It wasn’t until he asked to see the police reports at 20 that he believed she was really gone. Cooper asked Harry why he would want to see photos from the crash. “Mainly proof,” Harry said. “Proof that she was in the car, proof that she was injured, and proof that the very paparazzi that chased her into the tunnel were the ones taking photographs of her lying half-dead on the backseat of the car.”

  • BoG purchases 26,000 ounces of gold from Gold Fields

    BoG purchases 26,000 ounces of gold from Gold Fields

    Following the signing of a gold purchase agreement with the government-run bank, Gold Fields Ghana sold 26,000 ounces of gold to the Bank of Ghana (BoG) in December 2022.

    The native currency, the Cedi, was used to pay for the gold.

    Joshua Mortoti, Executive Vice President and Head of Gold Fields West Africa, stated that the Bank of Ghana purchased 19,000 and 7,000 ounces of gold from the Tarkwa and Damang mines, respectively, at the going market rate.

    We communicated with the government through the Chamber of Mines and reached an agreement on the gold buying program in November, allowing the central bank to purchase the gold.

    The domestic gold purchase programme, which was launched by the BoG in June 2021, is expected to augment the country’s foreign exchange reserves and shore up the local currency.

    Mr. Mortoti further explained, the industry needs a predictable fiscal environment for investment to thrive.

    “We will continue to support and engage government on initiatives in these critical times to arrive at mutually beneficial outcomes, with consideration to conditions in our Development Agreement,” Mr Mortoti said.

    The mining sector is key to the country’s economy and contributes over 40% of GDP and generates more than one-third of total export revenue.

  • ‘Ramirez hasn’t fought anyone like me’ – Dogboe on March 18 WBO title opponent

    ‘Ramirez hasn’t fought anyone like me’ – Dogboe on March 18 WBO title opponent

    Ghana’s former WBO world titlist, Isaac ‘Royal Storm’ Dogboe, is confident his March 18 opponent, Robeisy Ramirez Carazzana hasn’t fought anyone like him. 

    The former World Champion has Ramirez between him and the accolade two-time world champion as the two clash for the WBO featherweight title which was rendered vacant as a result of Emmanuel Navarette’s move to the super featherweight division. Madison Square Garden in New York could just be the ground for Dogboe to write his history if he gets it right. 

    In an exclusive interview, Dogboe who turned champion at super bantamweight in 2018, said he had the responsibility to bring Ghana international sports glory this year following the unfortunate early exit of the Black Stars at the Qatar FIFA World Cup.

    “Back in 2018 when I was about to fight for the world title, Ghana’s international image had seen a bit of a dip and I felt that my win lifted the spirits of the people.”

    “We find ourselves in a similar situation and I have the responsibility to lift Ghana’s image in sports I am very committed to do this for my nation and the people”

    Dogboe emerged winner from a split decision against Joet Gonzalez to book this ticket. That result also earned him the WBC International title, shooting him into the number two contender position.  The Ghanaian is also required to stage a final eliminator for the WBC belt but wants to concentrate on the March assignment for now.

    He heads to Washington DC where his trainer Barry Hunter takes over to get him in shape via an intensive training camp. “I don’t watch boxing during my leisure hours. I’ll only do that when I need to pick a trick or two” 

    Ramirez strikes a chord with boxing people with his big Olympic credentials. The two gold medals from the 2012 and 2016 editions have given him a spring to start off well in the pro ranks. With only a loss in the 12 bouts and a 68 % knockout ratio, the Cuban southpaw couldn’t have looked any better for a big day.

    Dogboe on the other hand is a London Olympian but hardly won a medal. “I was at the Olympics too. I did not win a medal but became a world champion,” he told Joy Sports.

    “I am always ready to fight anybody provided there is a title at stake. I am ready to get the job done. Ramirez is good but he hasn’t fought anyone like me,” he said. 

    After the only two losses in his career between 2018 and 2019 to Emmanuel Navarette,  Dogboe (24-2, 15kos) moved up to the featherweight division and has been successful so far – Chris Alvalos, Adam Lopez, Christopher Diaz and Joet Gonzalez being his victims. 

    Success on March 18 will mean Dogboe will become second on a growing list for former champions who have won world titles on two or more occasions. Former IBF bantamweight champion Joseph Agbeko remains the only one amongst Ghana’s 10 champions to have lost and regained championship status. Agbeko lost his title to Yohnny Perez in 2009 and reclaimed it from the same opponent in 2010. And in 2013 he won the IBO title at home after defeating Luis Melendes. 

    A major announcement of the bout will come off at the African Regent Hotel in Accra.  

    Source: myjoyonline

  • Our priority is to turn Ghanaman Soccer Centre of Excellence into at least a 3-star Hotel – Ghana FA Spokesperson

    Our priority is to turn Ghanaman Soccer Centre of Excellence into at least a 3-star Hotel – Ghana FA Spokesperson

    Communication Director of the Ghana Football Association Henry Asante Twum has revealed plan to turn the Ghanaman Soccer Centre of Excellence at Prampram into at least a 3-star Hotel.

    According to him, the Ghana FA intends to uplift the Ghanaman Soccer Centre of Excellence from the money accrued from the Black Stars participation at the 2022 World Cup.

    Speaking to Asempa FM, the FA mouthpiece confirmed Ghana earned an amount of $9.5 million at the group stage of the World Cup.

    “We want to turn Prampram into an edifice that can house all our national teams.

    The plan now is to turn the Ghanaman Centre of Excellence at Prampram to at least a 3-star Hotel with a 60 to 70 capacity.

    We want to raise the standard of the Ghanaman Soccer Centre of Excellence at Prampram so that it can host matches of all our national teams.

    At this moment we are in talks with government and lobbying for these projects. The number one priority is to make Prampram at least a 3-star hotel so that it can house all our national teams” he said.

    Ghana exited the 2022 World Cup at group stage after suffering a defeat against Uruguay in their last group game.

    After beating South Korea, Ghana needed a win or draw to progress to the knockout face but were unable to negotiate for points against the South American giants, hence their early exit.

  • God is busy, he has no time to speak on galamsey – Nigel Gaisie fumes

    God is busy, he has no time to speak on galamsey – Nigel Gaisie fumes

    The General Overseer of Prophetic Hill Chapel, Prophet Nigel Gaisie, says that the Lord has not revealed anything to him regarding Ghana’s illegal mining activity, also known as galamsey.

    Although the subject of galamsey is of the utmost importance to the state, the well-known prophet claims that God has not spoken to him about it.

    He noted that, in contrast to Galamsey, God is actively managing other crucial matters affecting the nation.

    Prophet Nigel made the assertions on January 11, 2023, while giving more highlights of his 31st night prophesies on the GTV Breakfast Show, hosted by Thelma Tackie.

    He emphasized that God has given “common sense” to the national government and traditional authority in order to protect their lands and water bodies from the operations of illicit mining.

    “With the utmost respect, God has given us common sense. So, are you saying that the traditional leaders in Akyem and Prah are blind to what is happening? Don’t they see it? Therefore, no prophetic words will be given about Galamsey by God,” Nigel said in response to Thelma Tackie’s question regarding what God had to say about galamsey in Ghana.

    He hoped that since the leaders were unconcerned about the galamsey struggle, the spirits that lived in the rivers would be stirred up and kill everyone.

    “Even the underwater spirits need to be furious and slam these leaders for being oblivious to the fact that things are deteriorating. Visit Abuakwa to witness for yourself how the Brim River, which we once drank, now looks like chocomilo,”, he fired.

    Prophet Nigel added, “God discloses things that are secret, but the problem with galamsey is well known to everyone in Ghana, therefore God won’t waste His time on it.”

  • Efia Odo flaunts her new tattoo on her back

    Efia Odo flaunts her new tattoo on her back

    Efia Odo is gradually turning her body into a walking gallery of art as she has covered up her back with a new tattoo.

    The Ghanaian socialite appears to have gotten her body inked in a parlour by a professional and shared the video of the whole proces and result via her Snapchat.

    According to Efia Odo the new tattoo is her favourite ink job yet at it’s an abstract illustration that represents her.

    Check out the video below

    It’s unclear the inspirtation behind Efia Odo’s new tattoo, but it’s obviously she trying everything possible to get the tag “bad bitch” added to her descriptions.

    She appears to have got her body inked by an artist based in Atlanta in the United States where she currently lives.

    ghpage.com

  • Presidency didn’t know Meek Mill was shooting a video at Jubilee House – Diaspora Affairs Director

    Presidency didn’t know Meek Mill was shooting a video at Jubilee House – Diaspora Affairs Director

    The Director of Diaspora Affairs at the Office of the President has dispelled claims that the Presidency gave permission for American Rapper, Meek Mill to shoot a video at the Jubilee House.

    Akwasi Awua Ababio in an interview on Accra-based Asaase Radio said officials at the Jubilee House were unaware that the ‘Dreams and Nightmares’ hitmaker was shooting visuals when he visited the President.

    Presidency didn't know Meek Mill was shooting a video at Jubilee House - Diaspora Affairs Director

    The Office of the President and the American Rapper were heavily criticised over the weekend after a video published by the latter had various shots from the seat of government.

    Although Meek Mill later deleted the said video, many Ghanaians feared that the security of the Jubilee House had been breached.

    Clarifying the issue, Mr Ababio said government has learned a bitter lesson from the incident.

    “I think that from this Meek Mill video issue, lessons should be learned, because while we do not want to stop Africans from the diaspora from coming here, there must be an understanding of limitations.

    Presidency didn't know Meek Mill was shooting a video at Jubilee House - Diaspora Affairs Director

    “I would say certainly for those who were around at that time, they didn’t know that it was being shot,” he said.

    Mr Ababio further added, “The fact is that what makes Ghana so attractive is the fact that we have so much diversity and tolerance here; in respect to religion and belief and especially security.”

    Meek Mill has since apologised to the people of Ghana for the video footage that he shot at Jubilee House on December 30, 2022.

    Source: myjoyonline

  • Bond market turnover increased 150% as investors prepare for debt exchange programme

    Bond market turnover increased 150% as investors prepare for debt exchange programme

    Total market turnover on the bond market increased by 150.30% to ¢1.17 billion during the week under review as more bond transfers were recorded.

    The bond transfers are said to be in preparation for the Domestic Debt Exchange programme.

    Fund managers in recent times have been moving funds from one account to another as investors consider the Domestic Debt Exchange programme.

    According to market data, bond market activity was mainly concentrated in the lower yield curve with a trade concentration of 41%.

    August 27, 2022, November 26, 2022 and January 3, 2023, saw more activity with total volumes of ¢112.32 million, ¢255.35 million and ¢191.75 million respectively.

    Analysts believe the secondary market will remain quiet as investors decide on participating in the domestic debt exchange.

    Corporate bonds will, however, continue to attract demand, but with very little selling interest and continued demand for Treasury bills.

    Meanwhile, a 3-year at a yield of 28.50% will mature in March 2023.

    Source: myjoyonline

  • Pray continually for the nation and me – Akufo-Addo urges Church

    Pray continually for the nation and me – Akufo-Addo urges Church

    President Nana Addo Dankwa Akufo-Addo has called on the Church to pray for Ghana, himself and his administration to surmount the current economic challenges confronting the nation.

    “I plead strongly with the church to bear the nation and me continually up in prayers. As God’s children, we may be tempted to allow struggles to define our worth. However, our ultimate victory is guaranteed. We may stumble along the way, but we will always be more than conquerors,” he said.

    The president made the call at a Special New year Eucharist Service held on his behalf by the Archbishops, Bishops, and Clergy of the Anglican Church of Ghana at the Jubilee House Accra on Tuesday.

    Prayers were offered for the President and his family, the Vice President, the government, and for peace and tranquility to prevail in the country, and for Ghanaians to have the patience to support the government as it sought solutions to take the country out of the current economic crisis.

    The Special Mass was attended by the First lady, Rebecca Akufo-Addo, the Vice President, Dr Mahamudu Bawumia, the Chief of Staff, Madam Akosua Frema Osei-Opare, and some senior government officials.

    President Akufo-Addo told the gathering that he was confident that Ghana’s economy would bounce back stronger in 2023.

    He reiterated his belief “that with the spirit of fairness hard work, integrity and reconciliation, the best days of Ghana lie ahead of us.”

    “Even though we are presently confronted with difficulties in economic performance, I do not doubt our collective resolve to work our way out of these challenges and put our nation back onto the path of progress and prosperity,” he said.

    Primate and Metropolitan Archbishop, Most Rev. Dr Cyril Kobina Ben-Smith, of the Anglican Communion, Internal Province of Ghana, in his homily, themed “New Mercies, New Love and New Hope for Ghana,” said God’s love for Ghana remained sure and rang true.

    “Your excellency, we wish to assure the government and the people of Ghana that God’s faithfulness remains sure for our nations. Despite the challenges and the times that the world finds itself, God’s promises still ring true, His mercies are new every morning.

    “God is still God. Let all the people of Ghana know that God is still God, and He directs all our affairs and we should bless the Lord in all circumstances despite our challenges.”

    The Primate said the building of the National Cathedral was enough testimony of President Akufo-Addo’s devotion to God and “no matter the Naysays, it will happen”

     “Your excellency, you and other world leaders, King David faced the same challenges that we are still experiencing…the murmuring of the people, the lamentations from the crowds, the abuse and lack of understanding of the issues that are clear to all, yet David stood resolute in his conviction amid opposition.

     “The God of Ghana is our refuge, let us keep faith with our President in all times. Ghana will not perish; Ghana will recover, and Ghana will reclaim every lost territory. I entreat all Ghanaians to pray for Ghana and for favour for the leadership of the nation.

    “Let the people of Ghana understand that with God all things are possible. If we trust Him, the economy will bounce back,” he said.

    He urged market women, traders, commercial drivers and businesspeople to complement the efforts of the Government by reducing the process of goods and services.

    Source: GNA

  • My fans don’t need to fight each other to prove their loyalty to me – Samini

    My fans don’t need to fight each other to prove their loyalty to me – Samini

    Emmanuel Andrews Sammini, known by his stage name Samini, a popular recording artiste, has sought to settle some in fighting within his fan base.

    According to the multiple award-winning singer, his fans do not need to fight each other or argue amongst themselves to prove that they are the most loyal to him.

    He said: “Dear #hgf , I am highly disappointed but we move. The energy y’all spend fighting each other and arguing with each other over who loves and supports me the most.

    “Who knows me longer and who is my most loyal fan can be channeled into a more positive campaign if it’s a selfless encounter,” he wrote on Facebook sighted by MyNewsGh.com reporter, Amansan Krakye.

    The ‘Linda’ hitmaker expressed his disappointment with his ‘High Grade Family’ fan base and revealed how some fans feel a sense of entitlement after getting close to him.

    He added: “Some fans after getting close enough and getting management and the artists personal attention the level of entitlement rises from “fan” to “team member” lol.

  • I’ll continue to support Akufo-Addo’s government to transform the economy – Dr Afriyie Akoto

    I’ll continue to support Akufo-Addo’s government to transform the economy – Dr Afriyie Akoto

    Former Minister for Food and Agriculture, Dr Owusu Afriyie Akoto says he will continue to support the government to succeed despite his resignation on Tuesday, January 10. 

    According to him, he will not relent in supporting the Akufo-Addo government to transform the economy. 

    In a Facebook on Wednesday, January 11, he thanked President Akufo-Addo for appointing him to serve in his government. 

    “I expressed my utmost appreciation to His Excellency for the opportunity to serve him and the people of Ghana from 2017 until now.

    “I also pledged my continue support in all diverse ways,  to him and the NPP administration as we work hard to fulfill his vision of transforming the economy of Ghana and the lives of the people,” excerpt of his Facebook post said. 

    Dr Owusu Afriyie Akoto also thanked the staff of the Ministry of Food and Agriculture. 

    “I further wish to express profound gratitude to the people of Ghana, the hardworking staff of the Ministry for all the support over the years,” he said.

     

    Meanwhile, he added “I will in the coming days  make public, my next political journey.”

    Source: Myjoyonline

  • GFA proposes building three-star hotel at Prampram to house Black Stars and other teams with Fifa money – Henry Asante Twum

    GFA proposes building three-star hotel at Prampram to house Black Stars and other teams with Fifa money – Henry Asante Twum

    Henry Asante Twum has said the Ghana Football Association [GFA] are considering building a three-star hotel at the Ghanaman Soccer of Excellence at Prampram where all national teams will camp.

    This is expected to be done out of the money earned from the 2022 World Cup in Qatar.

    Speaking in an interview, Asante Twum, who is the Communications Director of the country’s football governing body said they are in talks with government to use the money to build the edifice to camp the national teams.

    According to him, the decision will help the state to cut down spending on where the various national teams camp ahead of the major tournaments.

    “Ghana earned $9.5 million at the group stage of the World Cup,” he told Asempa FM.

    “We want to turn Prampram into an edifice that can house all our national teams.

    “The plan now is to turn the Ghanaman Centre of Excellence at Prampram into at least a 3-star hotel with a 60 to 70 capacity.

    “We want to raise the standard of the Ghanaman Soccer Centre of Excellence at Prampram so that it can host matches of all our national teams.

    “At this moment we are in talks with government and lobbying for these projects. The number one priority is to make Prampram at least a 3-star hotel so that it can house all our national teams,” he added.

  • “It will be challenging to replace Alan with someone with his level of competence.” – President of GUTA

    “It will be challenging to replace Alan with someone with his level of competence.” – President of GUTA

    The Alan Kwadwo Kyerematen’s resignation as minister of trade and industry has been met with regret by the Ghana Union of Traders’ Association (GUTA).

    Dr. Joseph Obeng, president of GUTA, said during an interview on Okay FM that the organization as a whole is grieved by Alan’s passing because he was one of the best ministers Ghana has ever produced.

    The former minister’s ideas and interventions, he continued, made their jobs simpler because he recognized their predicament and provided them with access whenever they ran into problems.

    “For us GUTA, we are saddened by Alan’s resignation, and it will be challenging to find someone as skilled as Alan to succeed him in the Ministry of Trade and Industry. Some of us knew Alan before President Kufuor appointed him to serve as Trade Minister during his time. He was a trader himself and understood our plight as traders. So, we were thrilled for him at the ministry. Particularly when it comes to diplomacy, there is no doubt about him. His compassion at the Trade Ministry is something we don’t think we’ve ever encountered. He is in fact an asset to the country, and we are truly heartbroken to lose such a person, aside from wishing him well,” he said.

    The former minister officially declared his intention to run for president in 2024 on the ticket of the New Patriotic Party (NPP).

    Addressing the nation on January 10, 2023, days after resigning from the government, Alan Kyerematen thanked the president of the republic Nana Addo Dankwa Akufo-Addo and announced that he would run for the position of flagbearer when the NPP officially opens nominations for that purpose.

  • Prince Harry Addresses Rumor James Hewitt Is His Father

    Prince Harry Addresses Rumor James Hewitt Is His Father

    Prince Harry is acutely aware of the rumors about his “real father.” 

    For decades, there’s been speculation that Princess Diana‘s former lover James Hewitt is the 38-year-old’s true father (despite the fact that Harry was born in 1984 and the couple’s romance reportedly started in 1987.)

    And allegedly, none other than King Charles III would laugh off the paternity claims, according to Harry’s new memoir, Spare.

    “Pa liked telling stories, and this was one of the best in his repertoire,” Harry wrote in the book, per NBC News. He said Charles used to joke, “‘Who knows if I’m really the Prince of Wales? Who knows if I’m even your real father? Maybe your real father is in Broadmoor, darling boy!’”

    Recalling how Charles would “laugh and laugh,” Harry went on to say it was “a remarkably unfunny joke, given the rumor circulating just then that my actual father was one of Mummy’s former lovers: Major James Hewitt.” 

    “One cause of this rumor was Major Hewitt’s flaming ginger hair, but another cause was sadism,” Harry shared. “Tabloid readers were delighted by the idea that the younger child of Prince Charles wasn’t the child of Prince Charles. They couldn’t get enough of this ‘joke,’ for some reason. Maybe it made them feel better about their lives that a young prince’s life was laughable.” 

    However, Harry set the record straight by noting in his memoir, “Never mind that my mother didn’t meet Major Hewitt until long after I was born, the story was simply too good to drop.” 

    James Hewitt, now 64, has also denied the claims, suggesting in 2017 that the rumor only continues to circulate because it “sells papers.” He added, “It’s worse for him probably, poor chap.”

    Buckingham Palace declined to comment on the book’s allegations when contacted by NBC News. (E! is a member of the NBCUniversal family.) 

    Read on for more bombshells from Prince Harry’s book, out Jan. 10. 

    King Charles, Prince Charles, Prince William, Prince Harry, 1997
    Prince William, Princess Diana, Prince Harry
    Harry Regrets the Last Conversation He Had With His MotherHarry last spoke to his mother hours before the car crash that took her life on Aug. 31, 1997—but he regretfully remembers being too preoccupied to really sit down and talk.When she called earlier that night, “I was running around with Willy and my cousins and didn’t want to stop playing,” he writes. “So I’d been short with her. Impatient to get back to my games, I’d rushed Mummy of the phone. I wished I’d apologized for it. I wished I’d searched for the words to describe how much I loved her. I didn’t know that search would take decades.”
    Prince Philip, Prince William, Earl Spencer, Prince Harry, Prince Charles, Diana funeral, 1997, Widget
    The Long Walk at Diana’s FuneralAmid differing opinions over whether Harry, still days away from his 13th birthday, and William, 15, should have to walk behind their mother’s coffin in the funeral procession to Westminster Abbey, Harry recalls that another option was considered.”Willy would walk alone. He was fifteen, after all,” Harry writes. “Leave the younger one out of it. Spare the Spare. This alternative plan was sent up the chain. Back came the answer. It must be both princes. To garner sympathy, presumably. Uncle Charles [Spencer, Diana’s brother] was furious. But I wasn’t. I didn’t want Willy to undergo an ordeal like that without me. Had the roles been reversed, he’d never have wanted me—indeed, allowed me—to go it alone.”And so both brothers made the 20-minute walk, with their father, grandfather Prince Philip and their uncle.”I remember feeling numb,” Harry writes. “I remember clenching my fists. I remember keeping a fraction of Willy always in the corner of my vision and drawing loads of strength from that. Most of all I remember the sounds, the clinking bridles and clopping hooves of the six sweaty brown horses, the squeaking wheels of the gun carriage they were hauling. (A relic from the First World War, someone said, which seemed right, since Mummy, much as she loved peace, often seemed a soldier, whether she was warring against the paps or Pa.) I believe I’ll remember those few sounds for the rest of my life, because they were such a sharp contrast to the otherwise all-encompassing silence.”
    Prince Harry & Spare bombshells, 2003
  • Backstory: “I cannot tell you when the price of kenkey would decrease.” – Agriculture Minister

    Backstory: “I cannot tell you when the price of kenkey would decrease.” – Agriculture Minister

    The cost of products, services, and food all rose during the last quarter of 2022 as inflation shot through the roof.

    Some Ghanaians lamented the high cost of life and appealed to the then Food and Agriculture Minister, Dr. Afriyie Akoto, to intervene on their behalf over the prices of food, particularly a ball of kenkey in the nation.

    However, Dr. Afriyie Akoto claimed he had no clue when the price of kenkey might decrease.

    A kenkey ball that cost GH 1 in 2021 was now marketed for GH 3.

    Read the full story originally published on August 11, 2022 by www.ghanaweb.com

    Food and Agriculture Minister, Dr. Afriyie Akoto has stated he has no idea when kenkey prices will drop.

    A ball of kenkey which was sold at GH¢1 last year is currently being sold at GH¢3.

    Food was among the major factors that caused a 31.7% inflation for the month of July.

    However, in an interview on TV3, when the agric minister was asked when the price of kenkey would see some reductions, he threw his hands in the air saying “Price of kenkey? I cannot tell. Why can I? The maize will be cheap when the factors that have brought about the increase go away.”

    He added prices will begin to drop when fuel prices also reduce.

    “I’m talking about the external influence on these prices. When the price of petrol goes down from $101 per barrel to $20 per barrel.

    Afriyie Akoto however reiterated his stance that Ghana is not experiencing a food shortage crisis.

    According to him, the Planting for Food and jobs among other interventions by the agriculture sector is yielding positive results.

    He said “people wrongfully say there is a food shortage, there is no food shortage in Ghana. If you look at all the sectors, the agric sector stands out as the sector which is doing well.”

  • Do you want someone to die before you do something about Vandals, Vikings? – Nana Akomea slams UG authorities

    Do you want someone to die before you do something about Vandals, Vikings? – Nana Akomea slams UG authorities

    Nana Akomea, the Chief Executive Officer of the Intercity State Transport Corporation (STC), has admonished students of the University of Ghana to cease fighting and engaging in violence on campus.

    Nana Akomea bemoaned the clashes between the students, particularly the residents of the Mensah Sarbah and Commonwealth Halls, as he stressed that the inter-hall fights leave a dent on the image of the University.

    He also feared these clashes might some day result in serious injuries and worst cases as deaths.

    The STC Boss recommended that these male halls like Mensah Sarbah hall and Commonwealth hall should be turned into mixed halls to help check the excesses in the behavior of the residents.

    Nana Akomea further charged the University authorities to take immediate steps to nip this situation in the bud.

    “The hall people themselves should understand that, as we move forward, some of these things have to be modified. We say we want to make you mixed but you have refused to accept it. The University has condoned it but as you keep fighting…Do you want someone to die before? Is the University waiting for a student to die before?”, he said during “Kokrokoo” on Peace FM on Tuesday, January 10, 2023.

    His call comes on the heels of recent violent confrontation between the residents of the Commonwealth Hall who call themselves ‘Vandals’ and the Mensah Sarbah (Vikings).

    Following the incident, the management of the University revoked the residential status of continuing students of these halls but the students have vehemently protested this decision.

    “All continuing students of Commonwealth Hall and continuing male students of Mensah Sarbah Hall will not return to these halls or any of the traditional galleries. They are to be randomly assigned to available rooms in any of the UGEL and private hostels.

    “Beginning from the 2022/2023 academic year, only Level 100 and graduate students (Masters and Ph.D. level) will be assigned to Mensah Sarbah and Commonwealth Halls. Subsequently, undergraduate students will vacate the halls at the end of Level 100 and may secure accommodation in the private hostels from Level 200 until completion,” UG management said.

    But students of the Commonwealth Hall of the University on Friday, January 6, 2023, filed a lawsuit against the University.

    An Accra High court has placed an interlocutory injunction on the residential policy decision by the University of Ghana (UG).

    “IT IS HEREBY ORDERED that the Defendant herein is hereby restrained either by itself or its officers, assigns, privies, agents, workmen, or anybody working under the Defendant’s instructions from going ahead to implement the decision of the Defendant, dated 26th October 2022 in respect of the residential policy decision affecting continuing students of Commonwealth Hall, University of Ghana. The status quo must be maintained, as it used to be before the 26th October 2022 decision.”

  • Burna Boy confesses he could not woo female soldier he fell in love with

    Burna Boy confesses he could not woo female soldier he fell in love with

    Nigerian singer, Burna Boy, has taken to social media to inform his fans about his latest ordeal with a crush.

    The Grammy-winning musician said he recently stepped out to ‘chill’ and a beautiful female soldier caught his attention.

    Burna, however, admitted that he couldn’t approach the lady to share his intentions adding that he doesn’t know how to woo a female officer.

    “Na so I enter igboro yesterday wey my eye see one beautiful Army woman, I nor come sure how dem dey take toast Army woman,” his post read.

    Burna Boy said he eventually moved on and didn’t bother disturbing the officer.

    The Last Last crooner added that he has still not been able to get her off his mind.

    See a screenshot of his post below:

  • Prof. Hanke estimates that the inflation rate in Ghana is 77%.

    Prof. Hanke estimates that the inflation rate in Ghana is 77%.

    Steve Hanke, an American economist, has highlighted the issues afflicting Ghana’s economy and renewed the need for a currency board to rein in the country’s spiraling inflation.

    Hanke calculated inflation (using his independent global tracker) to be 77% in a tweet from January 10, 2023, which is 27 percentage points higher than the stated rate of 50%.

    He used the phrase “going down the tubes” to emphasize that the current problems indicated that the economy was doomed to disaster.

    “Ghana is in 8th place in this week’s inflation table. On Jan 5, I measured Ghana’s #inflation at a stunning 77%/y. #Ghana’s economy is going down the tubes. To rein in inflation, GHA must install a currency board,” his tweet read.

    It is not the first time he is calling for a currency board to be put in place to help salvage the economy.

    Hanke has also been very critical of government’s resort to the International Monetary Fund (IMF) amid an economic crunch that government has partly blamed on aftershocks of the COVID-19 pandemic and the Russia-Ukraine war.

    Ghana had a torrid 2022 amid an economic crisis that forced government to seek an IMF facility at a time the cedi was rapidly depreciating, inflation was galloping and government was faced with multiple downgrades by rating agencies.

    Government has promised to turn around the economic fortunes of the country after sealing a Staff-Level agreement with the IMF with the hope that funds from the US$3 billion facility will be released early this year.

  • We don’t need to drop a point against Kotoko – Tamale City striker Isaac Mensah

    We don’t need to drop a point against Kotoko – Tamale City striker Isaac Mensah

    Tamale City forward Isaac Mensah has eyed a win against Asante Kotoko in the Ghana Premier League.

    Today, Tamale City will play host to the Porcupine Warriors at the Aliu Mahama Stadium in matchday 12 of the domestic top-flight.

    Ahead of the clash, Isaac Mensah, who find the back of the net in their 3-2 defeat against Hearts of Oak has set sights on helping his outfit to pick all points against Kotoko.

    “You always get ready so far as Ghana football is concern. We go into the Kotoko’s game just like the way we did against Hearts of Oak”

    “We need to stick to our game plan and I think we can carry the day. To be very honest and fair with our fans, we don’t need to drop a point against Kotoko and to be fair with our fans, we need to get the three points”

    Tamale City are in the relegation drop after 11 matches. They sit 17th position with 10 points.