A former Minister of Finance has asked the government to suspend the Free SHS policy until the economy rebounds.
Mr Seth Tekper said the current economic crisis does not support the implementation of policies such as the Free SHS and that all capital intensive projects should be reviewed urgently.
“I am going to use the Free SHS, unfettered free SHS, I am free to say it because in 2017 I tweeted and said unfettered free SHS was attractive but cannot be achieved. Ghana cannot do unfettered free SHS,” he said.
He added that the IMF deal will come with constraints to expenditure. So should the flagship policy be suspended, the money from it can be used for roads construction and hospitals.
“If we have a project which we have signed to complete in three years, I think we can suspend it for one year until we improve the situation…for instance some roads or some hospitals.”
The government and the Bretton Woods Institution in a joint press statement on Monday, December 12, said a Staff-Level Agreement on economic policies has been reached.
This is to be supported by a new three-year arrangement under the Extended Credit Facility (ECF) of about $3 billion.
According to a statement from the fund, the government’s strong reform programme aimed at restoring macroeconomic stability and debt sustainability while protecting the vulnerable, preserving financial stability and laying the foundation for strong and inclusive recovery, was key in this decision.
However, the staff-level agreement is subject to IMF Management and Executive Board approval and receipt of the necessary financing assurances by Ghana’s partners and creditors.
Meanwhile, the government announced it is suspending debt service payments on certain categories of external debts, including Eurobonds, commercial loans and most bilateral debt.
According to the government, this is aimed at bringing the country’s unsustainable debt level under control – a statement from the Ministry of Finance said.
I just finished reading a blog post discussing the issue of whether or not the other woman should apologize when an affair or cheater is exposed.
The argument was that the “other woman” should apologize for everything that she did, and several of the comments conveyed that opinion.
However, I have an entirely different attitude and opinion on the subject matter.
Why should the other woman apologize? She isn’t sorry for anything. You only apologize when you’re truly sorry for your actions, and in these situations, the “other woman” is never sorry for what she did.
Only on rare occasions does the other woman not know that the man is married, and in that case, I suppose that an apology would be in the works.
However, when the other woman knows that the man is married, she knows what she’s getting into.
It’s no secret, therefore, there is no sense in apologizing for something that you do not regret.
I’ve been down this road before, I have traveled this road many times, I have lived on this road, and quite frankly, I know what’s at the end of this road. In my opinion, there are only two types of people who do not cheat.
The person who is afraid to lose what he or she has
The person who has not found someone that he or she wants bad enough
Everyone cheats. If you’re not a cheater, then I would be willing to bet that you fall into one of the two categories I listed above.
I’m a cheater. I am a proud cheater. I’ve cheated on men that I’ve dated and I’ve been the other woman.
I’ve never been married, but I’ve had a lot of husbands to hold me. I’ve also been cheated on.
I have never been the type of girl that worries about whether or not her man is cheating on her.
The issue is something that I very seldom think about (unless I have a strong suspicion or evidence). If he says he’s working late, he’s working late. If he says he’s going out with friends, he’s out with friends. If he says he’s tired, he’s tired.
I don’t “read between the lines” or ponder why he says or does the things he does. If he says he’s been “thinking about things,” I take it at face value. Men need time to themselves, too.
I work with many, many men. In fact, I work with nothing but men on most days, and we’ve had more therapy sessions than I’d like to recall.
I work with America’s finest and bravest (not to mention best-looking) police officers and firefighters. I hear horror stories because I’m the guy’s best friend or sister in most cases.
I cannot count how many times I’ve had one of the guys complain about their girlfriend or wife constantly asking them if there was someone else when there wasn’t.
The guys are tormented. Usually, when they say that there is no one else, of course, she doesn’t believe him, and the suspicion begins.
I hear guys complain about the fact that they don’t have what we gals refer to as “me time.” He needs time to himself, too. You don’t need to talk to him every hour or a couple of hours, or every day for that matter. You don’t have to be at his place or with him every moment of his off time.
Let him do things with the guys, let him be alone and watch football all night, and let him have room to breathe.
One of the chief complaints I hear is about wives or girlfriends being too clingy or dependent. Please, stop it — for my sanity at least.
I also get rather irritated with wives and girlfriends who always suspect the girl at work. In my case, a majority of the time, as I mentioned, we’re the best friend or sister that you don’t know about… and he likes it that way.
Very seldom are we “work wives,” but it does happen from time to time. Furthermore, the more insight we get into his personal problems, the less interested we become (in him as a partner).
I have gotten involved with an individual at work, and a married man at that.
However, his wife is clingy, she’s jealous, she’s controlling, she’s obsessive, accuses him of everything under the sun, she nags, she rants, she raves, she’s stalked him at work, and I’d be willing to classify her as “psycho,” and he’s not getting any to boot.
You’re talking about a handsome man that would be any woman’s dream (including mine). She talks down to him, hangs up on him, sends him nasty emails … and all the while I say, why the hell do you tolerate this?
You’ve got options — not saying that I’m his only option because Lord knows I’m not, but he has options. There are other people who would love to have a chance with him and he stays with this woman who is verbally and emotionally abusive.
You cannot blame him for looking elsewhere. You can not blame him for wanting a comforting voice and reassurance. And you can’t blame me for giving him my world because he’s worth it.
Obviously, she’s missing something because he’s a truly wonderful man and I’d be glad to take him off of her hands. I’m not working to break their marriage up by any means, but I am the other woman.
I see that our men in public safety are some of the most neglected men around.
Sure, they’re rough and tough, don’t show feelings or emotion, and most women just have fantasies about a man with a badge, but these guys desire reassurance and comfort because they cannot get it at home.
Furthermore, if you’re married to or dating a man in this field, DO NOT — and I repeat, DO NOT — upset him before or during work. He has his life on the line while he’s on duty and he does not need you whining, complaining, or bitching at him in the process.
I suppose I am looking for meaning in why everyone obsesses over cheaters and cheating. In all actuality, I’ve never seen what the fuss was all about.
I was in a relationship for three years and was engaged for one of those years. I was faithful because I chose to be faithful. However, I had always seen the co-worker mentioned above as my “dream.” He was everything I wanted.
For once, he was the man I wouldn’t change anything about. I love his wit and sarcasm, I love his moodiness, I love his attitude, I love all of his personality defects, and I wouldn’t change anything about him. In fact, I wouldn’t make him taller even if I could. And the sex is mind-blowing (might I add).
I never, ever thought he’d be interested in me. So, I always shrugged him off when I thought he was flirting or hinting around.
Then out of nowhere, we started talking to one another constantly and we both revealed that we’d liked one another for quite some time.
In fact, it probably dates back to the day we met, but neither of us has the audacity to state that we’d been hardheaded that long, and he wasn’t married at that time.
He told me that all of the flirting and hint-dropping he’d done had gotten him nowhere and he was convinced that I wanted nothing to do with him, and all the while he never knew that he was to me: my knight in shining kevlar.
So, we hooked up and we continue to do so. We don’t talk about his marriage — that’s HIS business and I tell him all the time that there are two relationships, not one. We’re not some jumbled love triangle. What he feels for me and I for him is between us, and the same for him and his wife.
I do not pressure him or ask him what he’s going to do. I broke off my engagement and I’m single again. I date.
I’m not stuck in “Mr. Big” syndrome or anything of that nature. Sure, I’d be in Heaven if he were to leave and be with me, but it’s not what I expect. I never got into this thinking that the other woman would become his new “wife.” It was simply an opportunity that I couldn’t pass up because there might be, just might be something there.
Well, sparks have flown and they continue to fly and he excites me (and pleases me) like no man ever has before.
Yet, I don’t sit and wonder whether or not he’ll eventually leave. If he leaves, he leaves, if he comes to me, then he comes to me. There is no sense in isolating yourself or waiting for a married man — have fun while it lasts because you never know how long it will last.
In the meantime, date, go out, and have fun. I don’t mention my dates to him because he’s jealous. He gets jealous when I’m talking to other co-workers, which I will admit is odd, considering the circumstance.
Nonetheless, those relationships are separate — anyone else I am involved in does not join the circle of him and me. We remain separate and it’s none of his business, just like whatever is going on with him and his wife is their business, not mine.
Sure, I may sound like a cold-hearted woman; however, life is a game: you either get busy playing or you die. The choice is yours. The more you play, the better your skills become.
My last bit of advice is that when it’s over, it’s over. Exes are exes for a reason, so cut your ties and cut your losses.
There is nothing less attractive than a poor girl who is waiting for the “love of her life” to return when she should be busy trying to love her life.
At the 25th Annual General Meeting (AGM) of Kwamanman Rural Bank PLC on December 16, 2022, Dr. Stella Agyemang Duah, a research scientist and lecturer, was appointed to join the board of directors given her extensive scientific knowledge.
She will collaborate with the other board members to oversee management’s operations in accordance with the standards established by the Bank of Ghana in order to protect the bank’s assets, uphold internal controls for accurate financial reporting, and thwart any fraud or irregularities.
When she was first introduced to the assembly by the board chairman, Rev. Prof. Frimpong-Manso, the former General Superintendent of Assemblies of God Church. She received a unanimous vote of support and endorsement from all stockholders and the Sekyere Kwaman traditional council present at the gathering.
Dr Agyemang Duah has over 10 years of training experience in science-related disciplines. With a certification in Project Build-Up and Development from Hungary, she believes that the introduction of many products to support farmers in rural areas within the bank’s catchment areas will increase customer confidence to invest.
Speaking to the media, Dr Agyemang Duah disclosed that she is highly privileged to serve to deliver mapped-up strategies to improve the services of the bank to support agriculture for rural women in SMEs especially.
Dr Agyemang Duah is a purpose-driven and hardworking personality with a critical interest in contributing to the food value chain by developing an efficient and robust food consumption economy coupled with policies focused on reducing post-harvest losses. She well noted in Ghana for her research interventions on reducing food waste to achieve Sustainable Development Goal 12 by 2030.
She is a research scientist at the Biotechnology and Nuclear Agriculture Research Institute, Ghana Atomic Energy Commission (GAEC), an Adjunct Lecturer at the Department of General Agriculture, Sunyani Technical University and a Visiting Scholar at the Institute of Horticulture, Hungarian University of Agriculture and Life Sciences, Hungary. Dr Agyemang Duah is the CEO of SpringBoard Training Centre, a research and career development training centre and the Founder & CEO of Gallant Afrique, a science-based humanitarian organisation in Sub-saharan Africa.
Kwamanman Rural Bank was incorporated in Ghana to carry on the business of banking under the Banking Act, 1970 (Act 339) on 27th August, 1982 as the 5th Rural Bank in the Ashanti Region and the 38th in the whole country. Over the last few years, the bank experienced a decline in its performance but for ARB Apex Bank and an interim management committee (OMC), the bank has seen a growth in her assets.
A new CEO, Mr Noble Martin Adjei-Amponsah was recruited in September and a full board has been duly inaugurated to develop and implement a five (5) year Strategic Plan to guide the bank’s activities.
Dr Stella Agyemang Duah, a native of Sekyere Kwaman is the youngest and only female to serve as Board Member of the bank since its inception in 1982.
Ghanaian winger Osman Bukari has explained why he did not get Cristiano Ronaldo’s jersey after Ghana’s game against Portugal at the Qatar 2022 World Cup.
Osman Bukari: Why I didn’t get Ronaldo’s jersey after Portugal game
The Red Star Belgrade forward is a huge fan of the five-time Ballon d’Or winner and got to play against his idol in Qatar.
Bukari, who was a second-half substitute in that game, scored against Portugal despite the Black Stars eventually losing 3-2.
The 24-year-old went ahead to celebrate by hitting Ronaldo’s trademark ‘Suiiiiii’ after scoring against the Selecao.
Osman Bukari Pulse Ghana
He, however, did not get Ronaldo’s jersey in the aftermath of the game and he has now explained why that did not happen.
According to Bukari, he reached out to the Portugal captain for his jersey but was told another Ghanaian player had already asked for it.
“It was the first time seeing Ronaldo physically. In fact, I was happy when I saw him because I have always watched him on TV,” he told Kumasi-based Sompa FM, as quoted by Footballghana.
“During the warm-up, the first thing I thought of was to see Ronaldo but he came late, later on, I saw him warming up with the Portugal team.
“Messi, Mbappe and Neymar are players that I have seen physically so I wanted to see Ronaldo at all costs.”
Ronaldo gives Portugal the lead against Ghana from the penalty spot AFP
Bukari added: “I approached him and had some talks with him because I needed his jersey but unfortunately for me, I didn’t get it.
“I went to him after the game thinking I will get it but Ronaldo told me one of our players (Black Stars) who requested for his jersey through another Portugal player had taken it so he pleaded.”
Bukari has been capped nine times by Ghana, with two international goals to his name.
Moesha Budoung, who vowed to never dance sensually in front of people, has been seen dancing in the same manner in another video.
This happened at the Bikers festival when the actress was spotted delivering a seductive dance at a Bikers festival.
In a now-viral video, the actress was donning a two-piece body suit when she ran into a man and swiftly regained her balance before falling to the ground flat.
Meanwhile, on Tuesday, December 15, 2022, the actress addressed how she was captured in a negative light following her recent scandal at a nightclub in Accra where she danced seductively.
In a Snapchat video, she said, “I want to send a powerful message to the youth and the bloggers of our dear country Ghana. I really see so many disgusting titles and headlines for so many celebrities over the years.
“I have never had the opportunity to speak up. For the first time, I want to encourage you guys to change your ways and use meaningful captions for us. You guys tear us down so much that it affects our brand.”
She also mentioned that as a result, people call entertainers all sorts of names when they are out in public.
“When we go out, we are called all sorts of names because of what you guys put out there about us, forgetting that we have a generation that watches and learns from everything they hear and see on social media,” she expressed.
In the year 2022, armed robbery incidents in Ghana have been on the rise. Reports indicated an escalation in armed robbery cases in 2022 as compared to previous years.
The rise in the armed robbery case is a call up to the Ghana Police Service to put on their guard and be extra vigilant.
Pulse recounts the number of robberies that happened in 2022 and below are some of the incident.
Armed robbers kill 52-year-old gold buyer
In August, a gang of armed robbers killed a 52-year-old gold buyer at Wassa Saaman, a community near Wassa Akropong in the Amenfi East Municipality of the Western Region.
Reports stated that the man was attacked by the armed robbers after he had closed from work on Saturday, August 27, 2022.
Confirming the incident, Frederick Korankye, the Municipal Chief Executive (MCE) for Amenfi East said the armed robbers made away with an unspecified amount of money, gold bars together with some mobile phones and fled into the nearby bush.
Narrating the incident to Sekondi-Takoradi-based Connect FM, he said “Around 10 pm…I received a call from the Police Commander that a gold buyer has been killed by armed robbers.
“He had even gotten home and parked his vehicle. He was there with his child when one of the armed robbers pulled a pump action and demanded his bag.”
The MCE added: “He handed over the bag to the armed robber and started shouting after a few minutes for help. Unknowingly, one of the armed robbers was hiding in the bush, he fired gunshots and killed the gold buyer instantly.”
He stated that the police command in the region has initiated investigations to arrest the armed robbers.
The deceased left behind two wives and three children.
Armed robbers bolt with church offering during the watch night
A group of armed men attacked a church during the Good Friday festivity at a Church at Atwima Afrancho in the Ashanti Region.
They robbed the church and bolted with offerings and thanksgiving.
Reports stated that the robbery left about five people injured including three children.
The heavily armed robbers stormed the church around 1:00 am while the Church was having a watch night on Easter Friday.
They took away phones and cash.
3 robbers die in fire exchange with police at Shiashie
Three suspected armed robbers were shot dead during an exchange of fire with the police at Shiashie, a suburb of Accra.
Three of the suspects who were shot died on the spot, and the fourth suspect has been arrested and is currently in Police custody.
Police gun down armed robber in Kumasi
The Ghana Police Service on Friday, October 21, 2022, gunned down an armed robber who snatched an envelope from a bank customer.
The Police in a statement said the armed robber and his accomplice who were on motorbikes attacked a customer who had stepped out of the Fidelity bank, Maakro branch, carrying a brown envelope.
The robbers attacked the bank customer and snatched the envelope amidst the firing of guns.
The rear windscreen and the left door glass of a Daewoo Matiz saloon car which was parked on the bank premises were hit during the shooting.
The Police in a statement said the shootout followed “intelligence that an armed robbery gang was planning an attack on the cluster of banks in the Suame Magazine and Maakro enclave in Kumasi, the Police launched a special anti-robbery operation in which one of the armed robbers was shot”.
Police arrest a gang of six robbers in Bono East Region
Police have arrested six suspected robbers at Techiman in the Bono East Region following an intelligence-led operation on July 17, 2022.
The suspects have been identified as Issa Mohammed alias Baba Container Money, Reagan Kwaku Boakye alias Baby Face, Kwaku Boateng alias Star Boy, Elija Osei, and Gyimah Sadique.
“A search conducted on them during the arrest led to the recovery of a locally made pistol with four live AAA cartridges, one toy pistol, two motorbikes, one cutlass, one hammer, and three pairs of scissors,” police said in a statement.
“Other items retrieved from them include one flashlight, one cutter, one pepper spray, and 22 assorted mobile phones believed to belong to victims of their operations. Fifty Euros (€ 50) and an amount of Two Thousand, Five Hundred Cedis (GH₵ 2,500.00) were also retrieved from them,” it added.
3 killed in robbery attack in Tamale
An armed robbery attack on a mobile money vendor at Kalaraga, a suburb of Tamale left three people dead on June 7, 2022.
The attack happened around 7:30 hours when the armed robbers shot dead a mobile money vendor, whose name was given as Suale, as well as a passer-by.
The third victim, a Fulani, who was riding through the area after the robbery attack, was lynched by the mob, while his motorbike was also burnt after he was thought to be one of the armed robbers.
2 killed in robbery on Ejura-Nkwanta–Nyinase road
Two men lost their lives along the Ejura-Nkwanta-Nyinase road in the Ashanti Region after some unknown hoodlums opened fire on them during a robbery operation on Monday, October 31, 2022.
The robbers attacked and robbed a family of three.
The victims identified as Kipo Sumaila,50, died on the spot, while Ibrahim Iddrisu, 40, died, at St Luke’s Hospital in Kasei, where he was receiving treatment.
The body of Iddrisu has been deposited at the Ejura Government Hospital mortuary.
“Victim Ibrahim Iddrisu died while receiving treatment, while Masawudu Sumaila has been treated and discharged from the hospital,” the police in a statement issued by ASP Godwin Ahianyo, the Ashanti Regional Police PRO stated.
He said the unidentified hoodlums managed to flee from the robbery scene with their stolen booty (money).
Morocco is hoping its unprecedented World Cup exploits can help it win friends and influence people, especially among an Arab public opposed to its 2020 rapprochement with Israel.
Support for the Atlas Lions surged as they battled their way to the semifinal of the football World Cup in Qatar – the first Arab or African team ever to get so far.
Their popularity on the Arab street was helped by players and supporters brandishing Palestinian flags following Moroccan victories, to be seen by millions of live TV viewers worldwide.
That in turn was a diplomatic coup for Morocco against arch-rival and neighbour Algeria, which for decades had seen itself as North Africa’s main champion of the Palestinian cause.
Just two years ago, Rabat sparked criticism across the Arab world for re-establishing ties with Israel.
But international relations expert Tajeddine Houssaini said the agreement, part of a string of US-mediated normalisation deals, “doesn’t mean that Morocco has turned its back on the Palestinian cause”.
“The national team and the supporters only confirmed that in Qatar,” he said, noting that Palestinians had even made up chants glorifying the Moroccan team.
FOOTBALL DIPLOMACY
Morocco’s diplomatic gains go well beyond the Palestinian cause and the Arab world.
“Morocco’s extraordinary run in the World Cup of course burnished the image of the country, which has been using soft power for years to make its mark on the international stage,” said sports politics expert Moncef El Yazghi.
The kingdom already had a track record of using “football diplomacy” to boost its ties with African countries, signing at least 30 cooperation deals with other federations, he added.
Morocco’s winning streak gathered excited fans from South Africa to Tunisia, where supporters ignored a simmering diplomatic spat with Rabat over the disputed territory of Western Sahara.
Even in rival Algeria, where the issue is even more hotly contested, the public took the Atlas Lions to heart – though official media outlets kept quiet about the team’s achievements.
The squad’s unexpected success has “grabbed people’s attention”, French historian Pierre Vermeren said.
“This has given Morocco a major symbolic victory over Algeria – but also symbolic, sporting and political revenge against its neighbours,” he said, citing wins over nearby Portugal as well as Spain.
Morocco has been dreaming for decades of playing with the big teams, “and now it’s become a reality”, he added.
TOURISM TO BENEFIT?
Morocco will also be hoping to convert its raised profile into economic gains, especially for tourism.
The sector is one of the country’s top employers, but it was battered by the Covid-19 pandemic and the global economic downturn exacerbated by Russia’s war in Ukraine.
The kingdom has yet to see a return to the 13 million visitors it welcomed in 2019.
Lahcen Zelmat, head of the FNIH national hotels federation, said Morocco had an “excellent opportunity”.
The team’s successes “have given us great visibility”, he said, noting Morocco was “familiar for Western Europeans but not necessarily among Asian or Latin American tourists”.
“Today it’s known all around the world, but we will need to work hard to make the most of this unexpected publicity.”
While footballing victories temporarily distracted many Moroccans from their economic woes, the party for the Atlas Lions – who returned home on Tuesday – will soon be over.
Whether the country’s World Cup adventure will have a lasting effect on the country’s economy remains to be seen.
In recent days, Morocco’s image has somewhat been tarnished as Belgian police investigate allegations the kingdom and Qatar bought influence in the European Parliament.
World Cup Qatar host has denied any wrongdoing, while Morocco has offered no official response.
On December 19, 2022, the PURC said that even though the QTR will be unveiled this week, it will go into force the next year.
The soon-to-be-announced rates will span from January 1, 2023, until the end of March 2023, according to Obutey, who indicated in an interview that the quarterly tariff increases will last three months.
“Every three months, we will do adjustments to the tariffs we announced in August this year… Currently, we are doing quarterly tariff adjustment, which is supposed to take effect from the 1st of January to the end of March 2023. That is what we are working on currently,” he explained
“The adjustment that we do, the variable we consider include the exchange rate, the US dollar against the Ghana cedi; we use inflation rate also, and we also use the inflation rate, that is between the thermal and hydro and also fuel prices. Those are the exogenous variables we consider,” he noted.
PURC’s principal manager, Robert Saka Addo also noted that the objective of the new QTR model is to minimize the impact of uncontrollable factors, cost of Natural Gas, electricity, and water provision and also ensure the delivery of good quality of utility.
In August, the PURC announced a 27.15% increase in electricity tariffs and a 21.55% increase in water tariffs, which took effect on September 1, 2022.
The tariff increment came after utility companies including, the Electricity Company of Ghana and the Ghana Water Company Limited respectively proposed tariff hikes of 148% and 334%.
Additionally, the MPs were able to stop plans to establish additional Ghanaian embassies in Jamaica, Trinidad & Tobago, and Mexico.
Samuel Okudzeto Ablakwa, a member of parliament for North Tongu, revealed this in a Facebook post. He claimed that the government could not be enforcing “crude haircuts, particularly on pensions for the vulnerable elderly and still be pursuing fanciful projects which can be deferred to better economic times in the future.”
This comes after the trade, industry and tourism committee of parliament also rejected the GHC80 million budget allocated to the construction of the National Cathedral.
The minority side of the committee voted against the budget in an 11:10 majority decision.
A member of the committee, Mr Yussif Sulemana told journalists on Tuesday, 20 December 2022: “I can tell you on authority that at the end of the day, we had to vote and after the vote, the minority carried the day. We have voted against it and we are saying that this is not the time for us to be spending that huge sum of money on building a cathedral”.
The Bole-Bamboi MP said: “Apart from that, we were told at the committee[-level] that they had already spent GHS339 million and when we asked them to give us evidence of how the money was spent, it was a challenge”.
Again, he noted, “we were told that they have moved the cathedral from wherever it was to the ministry of tourism. And the question I put to them was that that organisation that is handling this cathedral, the secretariat, is it under the ministry of tourism?”
“If it’s not under the ministry of tourism, then it means that you want to use the ministry as a conduit to send the money wherever you want to send it and we, the minority, will not accept it”.
This comes after the trade, industry and tourism committee of parliament also rejected the GHC80 million budget allocated to the construction of the National Cathedral.
The minority side of the committee voted against the budget in an 11:10 majority decision.
A member of the committee, Mr Yussif Sulemana told journalists on Tuesday, 20 December 2022: “I can tell you on authority that at the end of the day, we had to vote and after the vote, the minority carried the day. We have voted against it and we are saying that this is not the time for us to be spending that huge sum of money on building a cathedral”.
The Bole-Bamboi MP said: “Apart from that, we were told at the committee[-level] that they had already spent GHS339 million and when we asked them to give us evidence of how the money was spent, it was a challenge”.
Again, he noted, “we were told that they have moved the cathedral from wherever it was to the ministry of tourism. And the question I put to them was that that organisation that is handling this cathedral, the secretariat, is it under the ministry of tourism?”
“If it’s not under the ministry of tourism, then it means that you want to use the ministry as a conduit to send the money wherever you want to send it and we, the minority, will not accept it”.
Tyson Fury and Oleksandr Usyk have agreed to fight each other next in a world heavyweight title unification bout, according to veteran boxing promoter Bob Arum.
Fury defeated his British rival Derek Chisora for the third time in his career to retain his WBC title earlier this month.
He then called out Ukrainian hero Usyk, the IBF, IBO, WBO and WBA belt-holder, who was ringside at the Tottenham Hotspur Stadium.
Following that fight, the 34-year-old Fury forecast a clash with Usyk, either in Saudi Arabia or Britain, sometime in February or March.
“The two fighters have agreed to fight each other next,” the 91-year-old Arum told Sky Sports on Tuesday.
“With Fury and Usyk we’re dealing with two adults, not a lot of (rubbish) back and forth. Usyk is a good friend of mine, he’s very intelligent and Tyson is Superman, both as an athlete and as an intellect.”
The American, involved in some of Muhammad Ali’s celebrated contests of the 1970s, added: “So they want the fight. Both of them want the fight and so there’ll be very little, if any, (messing) around.
“Now the question is what’s the date and what’s the site. But that fight is definitely going to happen and it will happen in the first four months of next year.”
Usyk, 35, has twice defeated Anthony Joshua, firstly depriving the Briton of his world titles at Tottenham in September last year before defeating him again in Jeddah, Saudi Arabia, this July.
This September, he said of a possible contest with Fury: “I would really like to see this fight happen next year.
“We do not know what is on his mind. This is Tyson Fury, everyone knows that he is a very crazy kid.”
A 19-year-old Ghanaian resident in the US, Vanessa Adwoa Rose Smith, has been adjudged Teen Univers USA after winning the same pageant for the state of Arizona.
Ms. Smith will thus represent the USA in Spain in February, 2023.
Born to a Ghanaian father, Charles Smith, and a Sierra Leonean mother, Hawa Smith, Vannesa is a product of Hamilton High School and now studying systems engineering at Arizona State University.
Speaking of her achievement, the Miss Teen Univers USA said, “What drew me to pageantry is my desire to be able to be versatile and adaptable. I love school and everything in between but I also love the arts. I am so grateful to have parents who have supported and encouraged me through every venture I took on.”
Touching on why a science student will venture into pageantry, Vanessa explained that, “Some may not see a correlation between the arts and STEM, but why should we have to limit ourselves to one identity? That is why I decided to go through with pageantry. It can show all different sides to you. You can be studious and ambitious all while being poise, beautiful and leading with your character.”
According to her, she is earnestly looking forward to participating in the forthcoming contest in Spain, “I am currently preparing for the International competition that will be held in Spain. I continuously do work throughout my community, mainly focusing on the youth. I am very adamant about advocating for the youth because I know personally how much we have to offer, but as young people it is harder to be taken seriously. We are the future and my mission is to provide the youth with as much resources to make a successful future.”
Vanessa, who is Arizona’s Top Model 2023, says her hobbies include; crocheting, photography, dance, cooking and trying out new recipes.
Due to the pass-through effects of the lower cedi and increased oil prices, headline inflation jumped from 40.4 percent y/y in October 2022 to 50.3 percent y/y in November 2022, and is currently around 5x higher than the Bank of Ghana’s top policy objective of 10 percent.
Since January 2003, when the rate rocketed up by 12 percentage points from 13.5 percent observed the month before, this represents the biggest rate increase for a single month.
GCB Capital, in its analysis of November inflation, indicated that inflation will continue getting higher in December and January – albeit at a moderated pace.
“Regardless of the cedi’s sharp appreciation and the marked slowdown in ex-pump fuel prices, we expect inflation to continue higher through January 2023, albeit at a moderated pace. The anticipated downward price adjustment in response to the cedi’s resilience and easing fuel prices could be marginal. The Yuletide-induced demand pressures could also sustain the uptick in headline inflation,” it said.
In forecasting what to expect, the investment advisor said: “We anticipate a sharper cooling of inflation beyond 1Q 2023, as we believe we have seen the worst of cedi depreciation. With government committing to fiscal consolidation under an IMF programme from 2023, we expect the much-needed BoP support and policy credibility from the programme to anchor cedi stability through 2023”.
It is expected that the extended Covid-induced lockdown in China and the increasing threat of recession in major economies will continue to undermine oil demand. However, Chevron and other major oil producers resuming production in Venezuela following the US government lifting sanctions against the oil major will moderate the impact of supply shock from Russia, given the anticipated increase in oil supply.
“We believe cedi depreciation and rising petroleum prices are the primary triggers of inflation; and given this improved outlook for 2023, we expect a sharper cooling of inflation beyond 1Q 2023,” it said.
Commenting on the outlook, Constant Capital also maintained its outlook of higher inflation in Dec-2022 with a potential peak deferred to Q1-2023.
“In the near-term, we expect to see the impact of pass-through effects from cedi depreciation, elevated petroleum prices, upward transport fare adjustment, lagged impact of utility tariff hikes, as well as the yuletide-induced price increase and consumer demand to continue lifting the CPI,” it said.
While the exchange rate performance has seen a remarkable rally in recent sessions based on the Staff-Level Agreement (SLA) reached by government for an ECF programme with the IMF, we think the impact on ex-pump petroleum prices will be lagged markedly due to price-stickiness. Petroleum prices will respond relatively faster to the better FX performance and lower global crude oil prices, with lower ex-pump petroleum prices providing support for other sub-classes of inflation that depend on fuel – such as transport and food.
Money Market
On the money market, Constant Capital is of the view that demand will remain firm as investors take advantage of Treasury bill exemptions in the debt restructuring conversations. This provides opportunities for the Treasury to reduce its borrowing costs at the short window. “We expect to see relatively lower yields at the short end of the curve.”
Given the clarity on domestic debt restructuring, GCB Capital also expects domestic market sentiments to improve steadily and nominal yields to gradually correct across the curve. “Excess demand for T-bill has started to depress T-bill yields despite the pronounced negative real returns and the elevated inflation profile; T-bill yields could fall sharply once inflation peaks,” GCB Capital said.
“While inflation remains elevated, the anticipated risks to inflation appear to moderate in the near-term. Headline inflation is on course to peak in 1Q 2023, even though we expect further increases through January 2023. Thus, the monetary authorities could hold the policy rate at the Jan-23 meeting, as the balance of risk weighs heavily on growth,” it added.
Since last week, I have been so excited heading towards Christmas in a somewhat happy mood.
A cedi in coma has jumped to its feet, to earn some respect from a bullying dollar.
Plantain and other food crops have been displayed in abundance, spilling over in markets and the banks of huge trucks.
A diligent Minister for Agric sporting a pot belly retails a bunch for only ¢10; plantain and ‘kelewele’ eaters lick their lips in praise of their Maker: God is good.
Gas pumps have started responding to the falling price of crude oil, with drivers and passengers beaming with smiles ahead of Christmas.
All said and done, we have begun seeing the aesthetic gap in Ghana’s front teeth: smiling with a dimple at the small ray of light at the end of the tunnel.
My headline has indeed been ready to convey the glad tidings in Bethlehem, with Baby Jesus being born to a social media headline: Anokwa, Kurom aye de.
But I have also been weighing this against joining a ‘haircut’ debate, which I suddenly realize is a metaphor, that moves Ghanaian barbers to the center stage of development economics.
In other words, barbers now become managers of our economy, needing to manage with care every little swing of the scissors.
My personal experiences with barbers make it a nightmare discussing this. That morning, my two office assistants looked nervous.
Mary, the administrator at the office of Dean of Students, would stick her head in and out my door, then disappear. In the next minute, Vickie on national service, would follow, and repeat the routine: stick her head in out and retreat giggling. I was Dean of Students at Ghana’s premier university.
There was something the ladies had seen but were too timid to say. I got worried and made bold to call Aunty Mary Osae and ask.
“Mary, please come over, what’s wrong, what’s happening?” Auntie Mary called her colleague Vickie Hansen Nortey, and came in together with her.
“Prof,” Mary whispered, timidly “your haircut.”
The two ladies were visibly worried about a lousy haircut I had brought that Monday morning to the office. It was partly my fault, I was trying out an anonymous barber working at Legon Hall Annex A, in the absence of my regular barber, Eddie Murphy, who was nowhere to be found.
My unusual looks that day, had created a virtual drama in my little office facing the Legon post office. In the next few days, I was compelled to camouflage my looks, wearing a cap disguise, until a few tufts of hair germinated in sympathy, to reverse my vulture looks.
Putting my ears to the ground, I squirm hearing the word pensioner, pensioner pensioner, as a possible target for a haircut haircut haircut. What is all this haircut about? I kept wondering until I realized the entire debate in the past week or two is about the little returns of that thin man in the bank queue, wearing a fanciless hat and brittle grey hair.
When it is his turn to see the cashier, he hobbles his way up, and simply asks to withdraw 85 cedis, which he squeezes and shoves in his breast pocket. He then wobbles his way back helped on by his grandson.
It is this man’s returns that we have decided to earmark, to restructure our national debts? No ooo! It was even worse when I woke up from my dream to realize I was probably in the bracket myself.
We are all called the retired, worse still ‘pensioner’ which could be intensified with a double ‘e’ ‘pensioneer,’ to sharpen the gravity of your misery. In other jurisdictions, such nationals are given extra social protection, free discount rates and waivers on bus rides, at hotels, etc. In the absence of such amenities, the little drops in our bowls are not taken away to expedite our departure, unless this is an emerging agitation by the youth.
But of course, labour unions, this is not the time to flex muscles and threaten indefinite strikes, which could worsen the economy and worsen the little drops in the pensioneer’s bowl. Insist on dialog, dialog, dialog. That is the whole essence of our sage’s advice, “If u do not speak up, you are given an ugly haircut.” Keep conveying the plight of the vulnerable pensioner. And let the policy makers look elsewhere for cuts, and not from the empty bowl of the poor pensioner.
It is of course worse if on the birth of Christ, as the crowd surges to see the new born babe, you realize the aged cannot join, because of an ugly haircut given in their absence. A real anticlimax for Ghana’s Christmas, never before in history.
Ghanaian musicians Lord Paper, Kweku Flick, Sista Afia, and Kofi Jamaramong other notable music stars such as Nina Rose, Vanilla, and Twitch are set to storm PartyLite Experience’s ‘Night with D’Elite’ concert.
The musical show, which is scheduled to take place on December 28, 2022, will also have many industry players present to grace the occasion on a fun night.
The event powered by Partylite Experience in collaboration with Elite’s Bar & Lounge will host the music stars at exactly 9 pm for the groundbreaking nightlife concert.
Top disc jockeys across the country such as DJ Vyrusky, DJ Wallpaper, DJ Que, DJ Blackboi, and DJ Juvenile will be rotating on the turn tables to give patrons an awesome experience.
Also, budding musicians Offei, Gamer Y.N and Comedian Made In Ghana, will be present to entertain patrons on the night.
The show, to be hosted by MC EL Baby and MC IGI, will give patrons an unforgettable nightlife that will forever linger in their memory lanes.
Actress Gloria Sarfo has eulogized the late Ekow Blankson for creating opportunities for his colleagues in the local movie industry, and also affecting lives positively.
Ekow Blankson, who passed away on October 3, was laid to rest on Saturday, December 17 with family, friends and loved ones in attendance at his funeral.
Gloria in an interview with GhanaWeb recalled all the times Ekow Blankson looked out for his friends by informing them of job opportunities.
According to the actress, the news of Ekow’s sudden demise which came as a complete shock to her broke her heart.
“It wasn’t easy for me. It was one early morning and I had a call from Roselyn Ngissah she was in the US. I picked up the call and she broke the news. In fact, I was shocked, I was everything broken.
“Ekow and I go way back and somebody who has everybody at heart. He’s created a group with some of us. There is nothing good, or beneficial that Ekow wouldn’t put us on. He was there for us, lobbies for us where he goes…I cried because we were supposed to do something and then it didn’t happen.”
Gloria Sarfo who starred in several movies with the late actor also disclosed the late conversation she had with him.
“The last time we spoke, I went for medical treatment in South Africa and we were talking and I told him about it. I remember vividly he was like God should help us. God is with us, everything will be fine. We are all fighting battles, that is what he told me. We are all fighting secret battles but the Lord will rescue us. He used some words and really encouraged me at that time,” she added.
While some Dome vendors have complied with President Akufo-Addo’s request to reduce prices of their goods and services, others have decided to stick with their exorbitant rates.
The president’s request comes after the cedi’s recent trend of value appreciation against the United States (US) dollar.
Up until this point, the cedi had been under a great deal of pressure and had seen its value fall precipitously against major trading currencies. A situation that resulted in inflationary pressures on the economy and thus skyrocketing the prices of goods and services.
President Akufo-Addo, while speaking at the centenary celebration of the Ga Presbytery of the Presbyterian Church of Ghana at the Black Star Square in Accra, on December 18, said, “to manufacturers, traders, and transport operators, who at the height of the Cedi’s recent depreciation increased prices of goods and services to reduce their prices now that the Cedi is regaining much of its strength.”
The Independent Ghana spoke with some vendors at the Dome Market to ascertain whether the president’s request had received a favourable response. Some immediately admitted to reducing their prices.
Madame Florence, who sells food items, stated that she has reduced the price of her vegetable cooking oil from GH₵1500 Ghana cedis to GH₵750. Also, her 5kg rice now goes for GH₵65, instead of GH₵85.
Some traders, however, continue to sell their commodities at high rates.
They argued that they needed to delay any price reduction until they sold off their old stock, which they had purchased at a higher cost.
“I agree with the president, but it is not our intention to sell our product at a very high price. Instead, what happened was that we went to buy our product at a high price, so now that the president is urging us to reduce the prices, the truth is that until these things are finished, the public should stop pressuring us and painting us in a bad light.”
Another noted that a price reduction is out of the picture since commercial transport operators continue to charge the previous rate instead of slashing their current fares by 15.3% as authorised by the Road Transport Operators.
They argued that the government must first ensure transportation cost is minimal before instructing traders to reduce their prices.
“I got in a car this morning and went to the market expecting the driver to lower the fare, but instead, he charged me GH4. Tell the president to speak with them about lowering their costs so that we can lower ours as well. He just took GH4 to get from Taifa to the Dome,” a trader said.
The Independent Ghana can confirm that some public transport operators are yet to effect the 15.3% reduction in transportation fares.
They claim the Ghana Private Road Transport Union has not provided them with the new list, but the Union has shot down such claims.
Minority Leader, Mr Haruna Iddrisu, says Parliamenthas contributed to the country’s current economic crisis.
He said Parliament had failed in its oversight responsibility of the government’s excessive borrowing, which had increased the debt stock beyond 100 per cent of the Gross Domestic Product.
Mr Iddrisu said this when the Ministry of Parliamentary Affairs (MoPA) engaged the core leadership of Parliament and other key functionaries to deliberate on Parliament and Ghana’s democratic dividend in Accra on Tuesday.
The meeting was on the theme: “Parliament and the Harnessing of Democratic Dividend: An Assessment,” was part of the Ministry’s capacity-building efforts to support the enhancement of the ability of Parliament in a functioning democracy.
It had the objectives that core leadership and other functionaries would be engaged to stimulate discussions on Ghana’s democratic dividend and examine the extent to which the Parliament of Ghana had ensured the responsibility of government to the needs and concerns of citizens.
It was also to identify challenges hampering the effective and efficient performance of Parliament and propose measures to enhance the effectiveness and efficiency in the discharge of its core responsibilities.
It was expected that a report consolidating the views on Ghana’s Parliament and democratic dividend would be developed at the end of the engagement and subjected to an impact assessment to facilitate future training programmes of the Ministry.
Mr Iddrisu noted that Parliament’s role in defending the public’s interest had deteriorated.
“Parliament’s role as the defender of the people’s interest is lost. So how did we get here, how come we didn’t anticipate it? It is only Parliament that approves the terms and conditions of the loan. So, if we have exceeded 100 per cent of GDP, how did it happen?”
According to him, Parliament had become a clearing house for the executive without proper scrutiny of government policies.
On his part, Mr Osei Kyei-Mensah-Bonsu, Minister MoPA and Leader of Government Business Parliament, said the appreciation of the cedi had contributed to the reduction of the country’s debt stock by about 40 billion cedis.
“You know that the appreciation of the cedi now has brought the debt stock down even though nothing has been done. It has climbed down by close to 40 billion and it will still climb down if the cedi continues to appreciate against the dollar,” he said.
Mr Kyei-Mensah-Bonsu also urged Members of Parliament to strengthen committees in the House to improve their work.
Dr Maame Adwoa Gyeke-Jandoh, University of Ghana, Department of Political Science, said Ghana must stick to its current democratic system despite the challenges.
She said despite the bottlenecks, Ghana was enjoying democratic dividends of peace, stability, and political inclusion.
Dr Gyeke-Jandoh, however, said smaller political parties must be involved in the democratic dispensation of the country, tackle corruption, have transparent governance, strong parliament with professional legislators, and complete separation of power with progressive gender equity.
Mr Yaw Boadu Ayeboafo, Chairman, National Media Commission, said public thinking and the thinking of parliament were incongruous.
He expressed dissatisfaction when political leaders were part of the speaker’s advisory body.
“I am bothered about policies passed by the president but not bothered about who is elected as president. There is no Ghanaian happy about the economic problems the country is facing,” he said.
Mr James Klutse Avedzi, Deputy Minority Leader, said Parliament had been weakened due to the rubber-stamping work they were performing on behalf of the executive.
He said that practice had made the public lose confidence in the House.
Mr Cyril Nsiah, Clerk to Parliament, said Parliament was working towards strengthening the institution of Parliament.
The engagement had a delegation from the Ministry of Parliamentary Affairs led by Mr Kyei-Mensah-Bonsu with support from the Chief Director, management and staff, the core leadership of Parliament, Chair and Ranking Members of the Committees of Constitutional, Legal and Parliamentary Affairs, Subsidiary Legislation, Special Budget and Finance, representatives from the Ministry of Finance and Ministerial Advisory Board Members of MoPA.
In a video she posted on Instagram, the socialite sparkled in a stunning black sleeveless dress that she paired with a pair of black shoes.
Her Instagram video included the caption, “May the good Lord keep using me mightily, and I promise to always love God with all my heart.”
Sitting on a pink couch with a pink backdrop, Happy Moesha could be seen swaying left and right to the music playing in the background.
Moesha Budoung, who vowed never to dance sensually in front of people, tripped while performing a seductive dance at a Bikers festival on December 18, 2022.
In a now-viral video, the actress was donning a two-piece body suit, ran into a man and swiftly regained her balance before falling to the ground flat.
Moesha’s post is the second since she returned to social media after her hiatus.
The Bank of Ghana (BOG) in its monetary policy report has revealed that a whopping amount of GH¢2.92bn has been written off as bad debt by banks operating in Ghana as of October 2022.
The term bad debt refers to loans or outstanding balances owed that are no longer deemed recoverable as a result of a default on the part of the debtor.
In such a situation, a creditor writes off unpaid loans after it has exhausted every possible avenue to collect on bad debts, including collection activity and legal action.
According to the BoG, the bad debt recorded this year was 66.8% more than the previous year.
BoG in its report, disclosed that during the same period in 2021, GH¢1.75 billion was written off as bad loans.
Per reports, bad debts are recorded if the debtor can’t or refuses to pay because of bankruptcy, financial difficulty, or negligence.
Nonetheless, the industry’s asset quality, Non-Performing Loans (NPL) improved during the period under review from 16.4 percent in October 2021 to 14.0 percent in October 2022.
When adjusted for the fully provisioned loan loss category, the industry’s NPL ratio declined sharply from 6.2 percent to 3.9 percent.
The decline in the NPL ratio was due to higher growth in total loans (57.7% y/y growth) relative to the NPL stock (34.2% y/y growth) during the review period.
The industry’s NPL stock, however, increased to GH¢11.3 billion in October 2022 from GH¢8.4 billion in October 2021, also partly reflecting the revaluation of the foreign currency NPLs and deterioration in some domestic currency portfolios.
The NPL ratios for all the other sectors declined with the exception of the services sector, which recorded an increase in its NPL ratio from 8.4 percent in October 2021 to 8.6 percent in October 2022.
Specifically, the NPL ratio of the commerce and finance sector declined from 23.8 percent in October 2021 to 15.9 percent in October 2022, while that of agriculture, forestry, and fishing declined from 29.9 percent to 22.4 percent during the same comparative period.
Five (5) other sectors also recorded declines in NPL ratios, namely, mining and quarrying sector (from 8.9% to 4.6%); manufacturing (from 18.0% to 14.6%); electricity, water, and gas (from 15.4% to 11.1%).
The rest are “transport, storage and communications (from 11.8% to 11.2%), and construction (from 35.0% to 31.7%). The NPL ratio for the construction sector was the highest at 31.7 percent, followed by agriculture, forestry, and fishing at 22.4 percent, while the mining and quarry,” part of the statement read.
Marriage Counsellor Pastor Charlotte Odurosays unless God approves or orders that her daughter should marry a pastor, she will never encourage her to do so.
The popular counsellor and woman of God said ”if it is the will of God to get my daughter to marry a pastor, so be it. But in terms of a physical decision, I will not encourage her to do that”.
Pastor Oduro said she would also take the opportunity to tell her daughter what marrying a pastor entail, and if she would be able to do it, then she is at liberty to do that.
She said some men of God please their church members and deprive their families of care.
”Some pastors give their members more care than their family. They do so, especially with people who have money. What they say is what he listens to. He gives all the attention to the members and does not even have time for his wife. Some pastors can maltreat their wives because of some members they are associated with.”
Pastor Charlotte Odurowas speaking to Nhyiraba Asirigi on the weekend Morning Show on Rainbow Radio 87.5Fm.
Marriage to a pastor, in her opinion, is difficult, but with God and prayers, one can survive.
“Some pastors have neglected their families and believe the church is their family. A godly man whose family is safe would see his church flourish. If your wife, children, and home are content with you, the church will thrive.”
Organised Labour is threatening to embark on an indefinite industrial action on Tuesday, December 27, 2022.
The organisation has been at loggerheads with the government over its single-spine salary and the exemption of pension funds invested in government bonds from its exchange programme.
The Trade Union Congress (TUC), one of its subdivisions, gave the government a one-week deadline last week, on December 13, 2022, to exempt its pension funds from the domestic exchange programme.
The ultimatum has however fallen on deaf ears as the government failed to pay heed to their demands.
Speaking at a press conference, the Secretary General of the TUC, Dr Anthony Yaw Baah said the strike will be in force until the government exempts pension funds from the planned debt exchange programme.
Addressing a group of agitated members, he noted that the programme in its original state will negatively affect pension funds of its members and their retirement income security.
“We have analysed the debt exchange programme, and after a thorough analysis of the programme and a very extensive discussion among the leadership of TUC and affiliates, our conclusion is very firm. And it is that the programme will negatively affect the pension funds of our members and consequently their retirement income security.’
He insisted that the congress will resist any attempts by the government to touch the funds of its members.
According to him, “Already, pensions are low and we would have thought that our government would do everything to protect the small pension we have. Instead, they are introducing a programme inspired by the International Monetary Fund to cut further pension income. Therefore, the Trades Union Congress and all its affiliates have decided that the pension funds of our members will not be part of the domestic debt exchange programme,” he added.
“Workers will no longer bear the consequences of any IMF-inspired programmes, government is responsible for all the consequences of its decisions, including the decision to seek an IMF bailout. If government refuses to accede to our demand to exempt pension funds from the Debt Exchange Programme after the one-week ultimatum, all workers should be ready to participate fully in any industrial action to protect our pension funds,” he added.
Debt Exchange Programme
The Government launched the Debt Exchange Programme on Monday, December 5, 2022, as part of efforts to reduce the country’s debt burden.
The Domestic Debt operation involves an exchange for new Ghana bonds with coupons of a longer average maturity. Existing domestic bonds as of December 1, 2022, will no longer be exchanged for a set of four new bonds maturing in 2027, 2029, 2032, and 2037.
The annual coupon on all these new bonds, according to the Minister of Finance, Ken Ofori-Atta, will be set at zero percent in 2023, five percent in 2024, and 10 percent in 2025 until maturity. Coupon payments will be semi-annual, with the programme not affecting individual bondholders.
The minister asserted that the debt exchange programme is part of a comprehensive agenda to restore debt and fiscal sustainability.
The situation has created tension at some lorry stations as well as with intra-city drivers and their travellers.
Commenting on the issues on Starr News, the Industrial Relations Officer for GPRTU, Abbas Ibrahim Moro reiterated the commitment of the union to compel their drivers to adhere to the new fares.
“This is the first time we are practising reduction on lorry fare. So, at least let’s give these drivers that benefit of the doubt. Some of them said they are not aware. Some of them are also saying they haven’t really calculated the 15.3 percent on their lorry fare. We believe in dialogue more than any other action. We are planning to talk to the drivers before any action will come out,” Mr. Moro stated.
Before the House adjourns for the holiday break, Parliament is anticipated to approve the E-Levy amendment bill later today.
Following warnings from the Minority, finance minister Ken Ofori-Atta decided to reinstate the 100 cedi daily barrier exemption.
When the Bill is passed, the levy’s rate will drop from 1.5 to 1 percent.
Starr News sources claim that following the government’s compromise, the minority has now opted to back the bill’s approval.
The 2.5 percent increase in the VAT rate is one additional revenue strategy that the NDC MPs have not yet mentioned.
Barring any changes, the VAT amendment bill is expected to be brought on the floor.
Already Ken Ofori-Atta has appealed to parliament not to frustrate any government revenue measure announced in the 2023 budget warning such a move will further exacerbate the economic crisis.
In honor of their accomplishments in the Qatar World Cup, King Mohammed VI welcomed the Moroccan national football team to the Royal Palace in Rabat on Tuesday.
The monarch, who was accompanied by Crown Prince Moulay El Hassan and Prince Moulay Rachid, presented Royal Wissam (medals) to the national team’s players as well as to head coach Walid Regragui in appreciation of his work in preparing and successfully guiding the Atlas Lions throughout the international competition.
The King decorated both the President of the Moroccan Federation of Football Faouzi Lekjaa and Walid Regragui with a second-class Order of the Throne Wissam (Commander).
In addition, the monarch decorated the players including Ghanem Saiss, Yassine Bounou, Achraf Hakimi, Noussair Mazraoui, Sofyan Amrabat, and Nayef Aguerd with third-class Order of the Throne Wissams (Officer).
The players also include Hakim Ziyech, Azzedine Ounahi, Abderrazak Hamdallah, Anas Zaroury, Abdelhamid Sabiri, Mounir El Kajoui, Ilias Chair, Zakaria Aboukhlal, Selim Amallah, Abdessamad Ezzalzouli, Sofiane Boufal.
Also decorated with the same Wissam were Jawad El Yamiq, Youssef En-Nesyri, Achraf Dari, Walid Cheddira, Ahmed Reda Tagnaouti, Bilal El Khannous, Badr Banoun, Yahya Attiyat-Allah, and Yahya Jabrane.
King Mohammed VI, Moulay El Hassan, and Moulay Rachid then posed with the national team and their mothers for a souvenir picture. Mothers of the Moroccan players were also present at the royal reception as the King insisted on including them in the event.
The players and technical staff also presented gifts and souvenirs to the King, as thanks for his support during their run at the global tournament.
The Atlas Lions arrived at the Rabat-Sale international airport earlier today, where they were met with a huge crowd of eager fans lined up across the streets, welcoming the Moroccan squad following their fairytale World Cup run.
Armed with Morocco’s flags, the national team and their head coach Walid Regragui toured across the cities of Sale and Rabat in an open bus as fans from all walks of life cheered for them.
The royal family has been an outspoken supporter of the Atlas Lions throughout the World Cup, including King Mohammed VI who joined street celebrations after Morocco’s shock win against Spain in the round of 16.
The national team has achieved historic milestones at the global tournament in Qatar, causing euphoria across the country, Africa, and the Arab World. Morocco became the first African and Arab nation to reach the World Cup’s semi-finals.
In addition, the North African team emerged as the tournament’s underdogs and defied all odds, after predictions and statistics suggested that the team would not make it past the group stage.
However, the Atlas Lions achieved the unexpected as they defeated and sent home some of the tournament favourites, including Belgium, Spain, and Portugal. Support for the Atlas Lions extended far past Morocco or Africa, with all neutrals rallying behind the team in the competition’s advanced stages.
The first two regions to launch their 2022–23 Division Two League in each of the districts of the regions are Ashanti and Greater Accra.
While their colleagues in the Ashanti Region began their League on Friday, December 9, at the Baba Yara Sports stadium in Kumasi, the Greater Accra Region got off to a strong start on Wednesday, December 14, at the McDan La Town Park.
The other Leagues (Third Division, Regional Women’s Division One and the male Juvenile Leagues (U-12, U-15, U-17) are scheduled to kick off in February/March 2023.
The other Regions are expected to roll out their Division Two Leagues in January next year as clubs step out to compete for spots in next season’s Division One League.
All competitions of the Ghana Football Association well end in June 2023. This falls in line with the Statutes which states that the football season starts on July 1st and ends on June 30th of the following year.
Asekem FC were champions of the Ashanti Regional Division Two League in the 2021/22 season that qualified them to the Access Bank Division One League.
Na God FC and A5 Rences currently play in Zone three of the Access Bank Division One League after qualifying from the Greater Accra Regional Division Two League last season.
To lessen the financial burden on the Price Stabilization and Recovery Account, the government eliminated the subsidy on RFO as of November 1, 2022. (PSRA).
The National Petroleum Authority (NPA) wrote in a letter that the policy directive “takes consideration of rising concerns about the sustainability of the Account to meet under-recovery payment commitments for premix fuel and RFO.”
At the start of the year, the subsidy on RFO was 55 percent; then it was slashed by 15 percent around July and completely suspended at the start of November.
“Our utility cost has really gone up since then. We are paying the full 100 percent price for the cost of RFO, and it’s actually becoming a challenge getting it,” Mr. Debrah Kissi told the Business and Financial Times.
Moving away from the subsidy, he further warned of an impending shortage of textiles for the country in the coming days.
Citing TSG’s supply chain team, he said: “What’s available will last the nation till the end of December, if we don’t get Bulk Distribution Companies (BDCs) to bring some stock in. This year, we have had to shut down about twice or thrice based on the unavailability of RFO,” he said.
Suspension of subsidy to ensure availability of product
Justifying the subsidy’s suspension at a news conference, Head of Economic Regulation-NPA, Abass Ibrahim Tasunti, said the move is meant to ensure availability and supply of the product – a low grade of fuel oil, which contains the undistilled residue from atmospheric or vacuum distillation of crude oil and is mostly used by manufacturing industries.
He said due to increases in global fuel prices and exchange rates, funds accrued through the Price Stabilisation and Recovery Levy – used in paying for subsidies on RFO and premix fuel – were not enough to meet the demand.
Debts due to subsidy
Government is in debt of more than GH¢154million, representing subsidy on RFO from January to September this year; and only GH¢15million of the debt, which covers January to March for a subsidy, has been paid – with the total amount for April to September yet to be paid, according to Mr. Tasunti.
Last year, government paid importers an accumulated subsidy of GH¢136million on RFO; and the inability of the Price Stabilisation and Recovery Account to meet debt demands resulted in a refusal by importers to sell the product… causing supply challenges for the industry.
Residents living around the enclaves of Battor Dugame, the capital of the North Tongu District, are living in fear amidst tensions emanating from a chieftaincy clash.
The clash which ensued on Friday, December 15, was triggered by the destoolment of a paramount chief of the area, Torgbuiga Kpatamia Dzekle IV by the stool father, Zikpoetor Korsi Hottor.
According to reports by some media houses, the destoolment rites were performed because the paramount chiefs breached certain customs and traditions of the people of Battor.
The destoolment, however, erupted clashes between the supporters of Torgbe Patamia and those of his stool father, Zikpoetor Hottor, leading to the death of five individuals.
Venting their frustration, residents of Battor, lamented that their safety, especially that of children and women, are not guaranteed.
Fearing for their lives, they called on the government to step in and resolve the recent happenings in Battor township.
“Our lives are at high risk now and we don’t even know how many more lives would be lost in the disputes currently ongoing and we need the government’s urgent attention on the issue.”
This chieftaincy unrest, according to a resident may lead to insurgence and my open a doors for terrorist to troop into the country.
He believes that the ongoing chieftaincy clash, if not quenched, may jeopardize Ghana’s security.
Meanwhile, the Police Service has arrested 15 suspects for their involvement in the violent chieftaincy dispute.
After a period of steady depreciation, the local currency stabilized around the GH15 mark. The rapid gains it has made recently, as well as clarity regarding debt restructuring, the IMF’s Staff-Level Agreement, regulatory interventions from the Bank of Ghana, as well as speculative selling and profit-taking, are also major contributors.
The reversal of fortune has seen the local unit move from the ‘worst-performing’ currency in the world in mid-October to become the ‘best performer’ for the corresponding period of December, with the average interbank rate at the close of business on Monday, December 19, 2022 showing that US$1 was being exchanged for GH¢8, according to the Bank of Ghana (BoG).
In an update on the economy, Finance Minister Ken Ofori-Atta highlighted that, ultimately, confidence and the active participation of all stakeholders are the essential elements for success of the proposed debt exchange programme.
“As such, government is committed to laying out a path toward attaining debt sustainability, informed by sound technical analysis and broad stakeholder engagement,” he said.
“So far, we have all witnessed the cedi’s gains over the past week, as well as the attainment of this Staff Level Agreement in near-record time. We must and we will collectively recover all,” Mr. Ofori-Atta added.
Last week, the cedi saw significant gains against the US$, GB£ and € on the interbank reference market, increasing by 56.95 percent, 58.18 percent, and 55.80 percent respectively. This continues the cedi’s strong correction over the past weeks, resulting in a decrease in its year-to-date (YTD) loss against the US$ to 24.94 percent – from 54.17 percent – on the interbank market.
The € and GB£ have also significantly strengthened over the past two weeks, with similar trends in the retail market; with the € YTD loss decreasing to 19.56 percent, from 51.07 percent, and the GB£’s YTD loss decreasing from 51.07 percent.
Also, the typical seasonal effects of increased imports around the holiday season have remained muted this year – as importers acted earlier in the year for fear of the higher cost for accessing forex during this period, contributing to the depreciation in October and November.
The central bank’s liquidity intervention, the surge in remittances and tourist spending over the holiday season, and improved FX offers from speculators as a result of the IMF agreement are other factors that contributed to the cedi’s appreciation.
GCB Capital, in its analysis of the currency market, anticipates that the cedi will continue to stabilise in the upcoming days, helped by increased liquidity as “the impending IMF programme will offer concessional lending to promote the accumulation of foreign exchange reserves, which will aid in maintaining cedi stability”.
Government’s engagement with the IMF is anchored on the Post-Covid Programme for Economic Growth (PC-PEG), which aims to restore macroeconomic stability and debt sustainability for a stronger and inclusive recovery. Following further stakeholder engagements, government last week agreed to extend the expiration date for the domestic debt exchange to December 30, 2022 to allow for key concerns raised by stakeholders to be accommodated in some form.
“Our ‘end-game’ as a government has always been to achieve a Ghana Beyond Aid – a Wealthy, Inclusive, Sustainable, Empowered and Resilient society (a WISER Ghana). The necessary precondition for this is a stable macroeconomic environment. Viewed from that lens, restructuring our debt is only a necessary part of our story,” the Finance Minister said, anticipating the IMF programme’s approval in the first quarter of 2023.
Impact on cedi-equivalent of External Debts
The cocktail of factors should see pressure on the Treasury ease up. For instance, the external debt stock grew by more than 40 percent by the end of September to GH¢271.71billion, or 44.15 percent of GDP, on account of the cedi’s 37.5 percent depreciation against the US dollar. As of the end of September, the cedi to dollar rate was approximately GH¢9.6 to US$1. Consequently, the debt stock could shrink by as much as GH¢45billion by the close of the year if the cedi maintains its momentum.
Furthermore, the crude oil import bill – which contributed significantly to the depletion of external reserves to 2.9 months of import cover at the end of October 2022 – is expected to reduce further due to the lower global crude prices; but more importantly, the strengthened cedi.
The nation’s external bondholders, following the suspension of coupon payments announcement, indicated through a communique that they had formed a representative committee to engage with government – while sounding upbeat about the International Monetary Fund’s (IMFs) participation in the wider process.
“The Committee is focused on the orderly and comprehensive resolution of Ghana’s debt challenges, recognising that such resolution will require fair burden-sharing and collaboration among the Ghanaian authorities, private creditors (both domestic and international) and official sector creditors. The Committee welcomes the authorities’ ongoing engagement with the International Monetary Fund (IMF) and recent announcement of the Staff Level Agreement,” the statement read.
“The Committee aims at securing an outcome that is both equitable to creditors and responsive to the economic and social challenges facing Ghana,” it added.
Former Finance Minister, Professor Kwesi Botchwey, who died at age 80, will be laid to rest on Thursday, December 22, 2022.
He passed away on November 19, 2022, at the Korle Bu Teaching Hospital in Accra, after battling a short illness.
Per reports, the burial service will take place at the forecourt of the State House, Accra, at exactly 9am.
On Monday, December 19, Parliament paid tribute to the former minister who served the country from 1982 to 1995 under the administration of late former President Jerry John Rawlings.
A one-minute silence was observed and hsi tributes later poured in.
Speaker Alban Bagbin noted that Professor Botchwey inspired him to work laboriously to be at his current position.
“And it is some of them who inspired us to where we are. He has a sharp brain, he was flashy…and a man who was a true Ghanaian,” he said.
He advocated for the creation of a period to celebrate great men and women who have aided the development of the nation.
Minority leader, Haruna Iddrisu, eulogised the late minister, noting that “his contribution to Ghana’s economic development as one of the longest serving Ministers of Finance, is more visible than any other.”
With regards to politics, he said Professor Botchwey was an adorable politician who aided him in his journey to state governance.
“I am an ardent mentee of Prof Kwesi Botchway,” Mr Iddrisu emphasised.
First Deputy Speaker, Joseph Osei Owusu and the Deputy Majority leader, Alexander Afenyo-Markin spoke highly of the deceased due to some programmes he undertook.
The late Prof Botchwey introduced the Programme of Action to Mitigate the Social Costs of Adjustment (PAMSCAD) and adopted a Structural Adjustment Programme (SAP) locally dubbed the Economic Recovery Program (ERP).
The ERP sought to reduce Ghana’s debts and to improve its trading position in the global economy.
The Programme came in three phases. Commencing in 1983, the government focused on reducing its expenditures while creating incentives for private production.
According to reports, the initial expenditure cuts and improved tax collection brought the budget deficit down from 6.3 percent of GDP in 1982 to 0.1 percent by 1986.
During the second phase, which lasted from 1987 to 1989, the government engaged in privatization and instituted foreign exchange reforms to devalue the cedi further.
The black market was nearly eliminated with the introduction of foreign exchange bureaus in 1988, reports have it.
In the ERP’s third phase, the government intensified monetary reforms and reduced private corporate taxes to boost private-sector growth.
According to the Ofoase-Ayirebi legislator, Kojo Oppong-Nkrumah, these initiatives helped stabilized the economy.
“Mr Speaker, some of the most difficult period of our economic history, Prof. Botchwey was the man responsible for fiscal policies and key among the things that he was responsible for ensuring the successes were revenue measures, some of which were not popular with the people of Ghana at the time that he was introducing them. But over the years, I think many will agree that his service to this Republic is one that ought to be celebrated,” Mr Oppong Nkrumah is quoted by GNA to have said.
Ghanaian showbiz personality, Valentina Nana Agyeiwaa, alias Afia Schwarzenegger, has rendered an apology to TemaHigh Court, where she has been sentenced to ten days imprisonment for making comments deemed to be contemptuous.
The controversial actress and three other celebrities who served as pundits on UTV’s showbiz show were found guilty of contempt after making certain pronouncements in a case pending before the court.
While Felicity Ama Agyeman, aka Nana Ama Mcbrown, Kwame Asare Obeng, alias Kwame A Plus, and Emmanuel Barnes, alias Mr Logic, were fined GH¢60,000 each (5,000 penalty units), Afia was handed a ten-day jail term.
Her lawyers consequently appealed the ruling by the court, praying the court to vary the sentence.
When the Tema High court sat on Tuesday, December 20, 2022, the lawyer for Afia Schwarzenegger Adrian Duke Amaning moved a motion to apologize to the court and with the permission of the court publish the apology.
Graphic Showbiz reports that the lawyer for Bernard Antwi Boasiako, Maurice Ampaw objected to the move and pleaded with the court to uphold the custodial sentence.
Justice Emmanuel Ankamah, who is presiding over the case adjourned proceedings January 17, 2023.
According to Graphic Showbiz, the judge indicated that judgement will be passed on the said date.
Ghanaian event organizer, Van Calebs has narrated an unpleasant experience he encountered in an attempt to stage a big event in Togo.
The show dubbed “Black Friday’ was billed to serve patrons great entertainment with the merging of music, fashion and sports.
With a host of Ghanaian and Togolese artistes lined up for the event, expectations and confidence were high within the camp of Van Calebs and his team that the Palais de Congress event center was going to be filled to capacity.
But despite the presence of Ghanaian celebrities like Van Vicker, Prince David Osei, Patapaa, Chief One, Jah Phinga and a host of A-list Togolese artistes and entertainers, the auditorium was almost empty and organizers had to wave the charge and make it a free event in order to get people into the auditorium.
Van Calebs described the development as “the worst day of my life”.
According to him, the objective of the show was to contribute to the revival of entertainment in Togo but the local promoters whom he trusted and invested in to market the event sabotaged him.
“I had to personally start bringing in people to enjoy the show for free. The Togo people felt threatened that we were gonna make it big so they sabotaged our show . I cried all night.
“Investing into entertainment in Togo is worst than entering hell fire. As a person with over a decade of experience in the event and advertising industry, this has been my worst experience so far, “he bemoaned.
As compared to yesterday’s trading of a buying price of 7.9970 and a selling price of 8.0050. At a forex bureau in Accra, the dollar is being bought at a rate of 10.30 and sold at a rate of 11.00.
At a forex bureau in Accra, the pound sterling is being bought at a rate of 11.00 and sold at a rate of 13.50.
The Euro is trading at a buying price of 8.4839 and a selling price of 8.4923 as compared to yesterday’s trading of a buying price of 8.4839 and a selling price of 8.4925.
The South African Rand is trading at a buying price of 0.4625 and a selling price of 0.4628 as compared to yesterday’s trading of a buying price of 0.4620 and a selling price of 0.4623.
At a forex bureau in Accra, South African Rand is being bought at a rate of 0.45 and sold at a rate of 0.90.
The Nigerian Naira is trading at a buying price of 56.3093 and a selling price of 56.3918 as compared to yesterday’s trading at a buying price of 56.2705 and a selling price of 56.3692.
At a forex bureau in Accra, Nigerian Naira is being bought at a rate of 14.00 Naira for every 1 Cedi and sold at a rate of 16.00.
The decision “complicates the planned debt restructuring intended to trigger a rescue by the International Monetary Fund,” according to a Bloomberg article.
The West African country’s debt was downgraded from CC to selected default because of the ban on debt payments, the credit assessor said in a statement on Tuesday. The country has $13 billion worth of foreign debts.
According to Bloomberg’s December 20, 2022 article, Ghana is experiencing “extremely low net reserves, a volatile currency rate, significant inflation, and the weaker economy” at the time of the default.
The rating by S&P was expected as the suspension of the debt payments signified a default by the country.
Government to suspend debt service payments under certain categories
Government through the Ministry of Finance has said it will suspend all debt service payments under certain categories of the country’s external debt component.
The move according to government is an interim emergency measure pending further agreement with the relevant creditors while some analysts have described it as Ghana effectively defaulting on its external debt.
A statement issued by the Ministry and sighted by GhanaWeb Business noted the decision is pending an orderly restructuring of the affected debt obligations.
It explained that the suspension will include payments on Ghana’s Eurobonds; Ghana’s commercial term loans; and a large portion of Ghana’s bilateral debt.
“This suspension will not include the payments of our multilateral debt, new debts (whether multilateral or otherwise) contracted after 19th December 2022 or debts related to certain short-term trade facilities,” the statement noted.
“We are also evaluating certain specific debts related to projects with the highest socio-economic impact for Ghana which may have to be excluded. This suspension is an interim emergency measure pending future agreements with all relevant creditors,” it added.
The Finance Ministry however added that government is keen on holding engagements with its external creditors in order to undertake a transparent, fair and comprehensive debt restructuring exercise in line with international best practices.
It further pointed out that the Ministry of Finance will hold an investor presentation at a date that will be announced in due course.
Ghanaian music notable Kofi Kinaatahas disclosed that doing music has opened many doors for him.
He said his music career has exposed him to distinguished statesmen and having special favours at the embassy.
Kofi was Nana Romeo’s guest on Accra 100.5FM today, Tuesday, December 20, 2022.
He was quick to respond when asked what he has gained from doing music.
“I have benefitted so much from being a musician,” he said.
“Recently, I was in the office of the head of the Ghanaian army,” he added. “All the individuals in the room were Generals, Major Rtd, and more. Ordinarily, I can’t be in such company but for my music.”
Kinaata also recalled performing “recently at the birthday party for ex-President Kufour.”
He was happy to note the rare honour of “having a conversation, taking pictures,” with such a dignitary in the midst of people of similar standing.
The rapper and singer highlighted how he has gained opportunities to go to important places and in some cases been given special dispensations.
“Recently, I was late to the German Embassy. When I got there, I was told not to worry and that the one I was to see had been to my show at +233 before so they’ll see to me and follows me [on social media]. I was specially attended to when everyone in the queue had left,” he narrated. “So, yeah, these are some of the benefits that come with my job.”
Nana Romeo asked him about groupies. Kofi burst out in belly laughs.
This Friday, December 23, 2022, Kinaata joins fellow Sekondi-Takoradi native and Highlife legend Gyedu-Blay Ambolley at the +233 Jazz Bar & Grill for an event dubbed: ‘The Bronya Experience’; to wit, ‘The Christmas Experience’.
Kofi Kinaata’s latest song is called ‘Everyday (Essikafo Ammba Ntem)’.
After a gritty 1-0 victory over Nsoatreman FC in game nine of the Ghana Premier League, Hearts of Oak coach Slavko Matic praised his youthful players.
The solitary goal of the game was scored in the 54th minute by Kwadwo Obeng Jnr., who capitalized on a goalkeeping error.
The win takes Hearts of Oak to the second spot with 16 points, while Nsoatreman FC lie 7th on the league table with 13 points.
“Congratulations for the young players. They show again attitude, amazing character. I think the better team won today,” coach Matic said after the game.
”No, players match, players deserve this win,” he added.
Hearts of Oak are only three points behind leaders Aduana Stars who inflicted a 1-0 defeat on Great Olympics in Sogakope.
The Phobians will take on Bechem United in their next match on Sunday, January 01, 2023.
Slavko Matic replaced Samuel Boadu after a slow start to the season.
The Minority in Parliament is concerned that the current debt situation may plunge the country into a food shortage crisis during the next planting season.
This concern follows the government’s failure to settle outstanding debts of fertiliser suppliers.
Expressing his frustration over the situation during the consideration of budget estimates for the Ministry of Agriculture, Deputy Ranking Member on the Food and Agriculture Committee, Dr Godfred Seidu Jassaw, said suppliers are no longer willing to supply subsidised fertiliser to farmers.
“The Ministry for Finance has not been releasing funds to settle this indebtedness. Mr Speaker, this means that our farmers are likely not to have an adequate supply for these inputs that we require to prosecute the next production season,” he said.
It has emerged that the government currently owes suppliers of fertiliser and improved seedlings millions of cedis.
An April 2022 report filed by Peacefmonline.com revealed that the government of Ghana owes fertiliser suppliers an estimated 436 million Ghana cedis after supplying farmers with fertiliser for the 2020 and 2021 farming seasons.
Subsequently, myjoyonline.com reported that the situation has affected the supply of fertilisers to peasant farmers.
Head of Programmes and Advocacy for the Association, Dr. Charles Nyaaba said the suppliers are no longer willing to supply fertilisers at a subsidised cost.
Also, in September this year, the National Seed Traders Association of Ghana (NASTAG) requested that the government pay its members’ GH¢ 207 million debt for the provision of seeds for the 2021 growing season, under the government’s Planting for Food and Jobs initiative (PFJ).
Lamenting the situation, NASTAG, in a statement signed by its President, Kwabena Adu-Gyamfi, said its members had been impoverished and left frustrated by the situation.
As a result, the suppliers are no longer willing to render their services and have threatened to freeze supply to farmers who are in dire need of them.
On this basis, Dr Jassaw, cautioned and asked the government to as a matter of urgency take measures to address the situation.
“Speaking to industry players, most suppliers of fertilisers and improved seeds that have been registered to supply these inputs for the planting for Food and Jobs Program have threatened to supply for the next production year because they have been owed money that they have not been paid,” Dr Jassaw said.
The maiden edition of the Ghana Responsible Gold Mining Summit has been scheduled to take off on April 7 and 8, 2022, at the Manhyia Palace in the Ashanti Region.
This summit is part of efforts to promote responsible mining and also to clamp down on illegal mining, popularly known as galamsey, especially in the Ashanti Region, where the activities of illegal miners are very rife.
Amidst the escalating dangers of illegal mining, advocacy on the need to eradicate the canker has become necessary.
Most water bodies have been destroyed, as have vast areas of the country’s land resources.
In view of this, the Asantehene, Otumfuo Osei Tutu II, has deployed various innovative ways of tackling the menace.
On various occasions, Otumfuo Osei Tutu II has been a keen advocate against the canker.
He recently reinforced his commitment by indicating that, in the coming year, any sub chief in the Ashanti kingdom whose area has been invaded by illegal miners will be summoned, questioned, and subsequently sanctioned if need be. He is also bent on ensuring responsible mining in his jurisdiction.
Gold contributes over 90% of Ghana’s total mineral exports and makes up 49% of the country’s total export value.
However, the country is unable to make the expected returns due to smuggling of the mineral.
About the summit
The Ghana Responsible Gold Mining Summit, which will work to ensure that gold sourced from Ghana’s small-scale mining sector is responsibly mined and traded in accordance with international standards.
The Asantehene will also work with stakeholders to ensure that interventions to halt environmental degradation are coordinated and fully supported.
The Summit will be led by Africa Responsible Mining in collaboration with E ON 3 Group and Ansong Askew Ltd.
The event is supported by the Ministry of Lands and Natural Resources and its agencies, as well as the Organization for Economic Co-operation and Development (OECD).
Other stakeholders, including international market makers, will also provide some collaboration.
Outputs
Outputs from the Ghana Responsible Gold Mining Summit will focus on aligning Ghana’s small-scale mining sector with the expectations of international markets.
This will include measures to increase transparency and accountability in the sector in line with international standards for responsible sourcing.
The Deputy Minister for Energy, William Owuraku Aidoo, has said that Ghana’s Ghana Scaling-up Renewable Energy Program (SREP) will unlock additional financing opportunities to achieve accelerated and sustainable development of the country’s renewable energy sector and contribute to the goals of the country’s energy transition efforts.
The deputy minister made this revelation when he represented energy minister, Dr. Matthew Opoku Prempeh, to launch the SREP and also inaugurated the SREP Steering Committee (SREP SC) and the Net-Metering Solar PV project Governance Council (SREP NMPV GC), at the Accra City Hotel.
The Ghana SREP is a multi-donor initiative of the Climate Investment Fund (CIF), the African Development Bank (AfDB), the Swiss Government acting through its donor agency SECO and the Government of Ghana aimed at mobilizing financial resources to catalyze investment in renewable energy solutions, increase access to clean and reliable electricity services and support Ghana’s energy transition efforts.
William Aidoo, who is also the MP for Afigya Kwabre South, added that the Ghana SREP will thus contribute significantly to the electrification of the last-mile rural communities and the attainment of the universal access to electricity target by 2025, as well as increase Ghana’s energy security through the increased renewable energy contribution in the generation mix of 10% by 2030.
He stated that in May 25th 2022, Ghana signed two separate agreements with AfDB and SECO which consummated the mobilization of a total of US$85.18m as follows;
1. Climate Investment Fund contribution amounting to US$28.49 Million, 2. African Development Bank contribution amounting to US$27.39 Million, 3. SECO contribution in parallel co-financing amounting to US$14.00m specifically to fund the NMPV Component, and 4. Government of Ghana Counterpart Funding amounting to US$16.00m.
The US$85.18m will fund two flagship project components: (1) Mini-grid & Standalone Solar Home Systems project and, (2) Net-metered Solar PV Project, as well as the associated project management costs
“The Mini-grid and Solar Home Systems project, will deliver 35 mini-grids, standalone solar PV systems for 750 SMEs, 400 schools, 200 health centres and 100 communities’ energy service systems in rural Lakeside and island communities in the Savanah, Northern, Bono East, and Oti Regions,” the deputy minister stated, adding that an estimated 84,255 Ghanaians living in remote rural communities will have access to clean and affordable renewable electricity.
The Net metering solar PV (NMPV) project, he said, will deliver 12,000 units of roof-mounted net-metered solar PV systems to reduce the public sector electricity debt, impact positively on the Energy Sector Recovery Program (ESRP) and, improve energy security for small and medium-sized enterprises (SMEs) and households in the urban areas.
The deputy minister expressed government’s deep appreciation for the support it has enjoyed and continues to enjoy from the donor community, particularly the AfDB and the Swiss Government through SECO, and gave the assurance that Government of Ghana will honour all her obligations under the project.
Prior to deactivating his Twitter account for good, the Philly rapper posted one last tweet, sharing an explanation with his followers regarding why he’s leaving.
“Ima deactivate Twitter forever and go to a new social where it’s more good vibes based off building, creating and motivation,” he wrote. “Whoever run my shit turn this off forever … ima takeover my YouTube account to replace me interacting with supports! Too many bots and weird people.”
Shortly after posting the tweet, Meek Mill officially deactivated his account. However, he is still active on Instagram, where he has more than 23 million followers.
Meek’s Twitter departure arrives after Elon Musk, who acquired the platform in October for $44 billion, shared a poll on Sunday asking users: “Should I step down as head of Twitter? I will abide by the results of this poll.”
Musk’s poll received over 17.5 million responses, with 57.5 percent of the voters saying he should step down.
“As the saying goes, be careful what you wish, as you might get it,” Musk tweeted as the results began to roll in. “Those who want power are the ones who least deserve it,” he added in another tweet.
“Those who want power are the ones who least deserve it,” he added in another tweet.
Pusha T, who’s currently capping off one hell of a 2022, says he’s “not interested anymore” when it comes to matters of Drake.
In an interview with C. Vernon Coleman II for XXL’s Winter 2022 issue, King Push spoke on a fairly wide variety of notable topics, including his universally acclaimed It’s Almost Dry album and his sustaining dedication to greatness. The latter resulted in a mention from the interviewer of this year’s Honestly, Nevermind album, which marked a stylistic departure of sorts for Drake.
Asked if fans could ever expect “anything like” that particular Drake record from him, Push offered several variations of “never.” From there, the larger Drake issue—namely the two artists’ much-publicized feud circa 2018—was briefly discussed. As Push himself noted, it’s now been four years since the height of the feud, although one side is still “hurt” by what transpired.
“Every time I hear a subliminal in one of his songs, it just lets me know how deep it hurt him,” he said in the interview, shared on Monday. “Because it’s been four years now. And we still talking about it. He is. I don’t. I’m cool. But every time it’s a subliminal, I’m like, Yes. It burns. It still burns. It lets me know. I love it.”
A follow-up question focused on Drake spurred the aforementioned “not interested” reminder, with Push pointing out what he described as the “contradictory” nature of the possibility of Drake eventually directly dissing him in a song.
“With all of that being said, it’s like I’m not interested anymore. I’m just really not,” he said.
Read the full XXL interview here. Also of note is Pusha T reflecting on the last time he spoke with Ye, as well as reiterating his disappointment with the once-revered artist’s recent examples of anti-Semitism (“It’s wrong. Period.”), and a detailed breakdown of why he feels one can’t argue against It’s Almost Dry as the best rap album of the year.
The album was recently featured in Complex’s Best Albums of 2022 rundown. Also making the cut were releases from Kendrick Lamar, Bad Bunny, 070 Shake, Harry Styles, FKA twigs, Flo Milli, and more.
Earlier this year, Push was among those who took the stage amid ComplexCon festivities in Long Beach, including by way of a Clipse reunion performance. For more highlights from the 2022 edition of ComplexCon, hit this link.
He pointed out that as time goes on, Ghanaian-owned businesses only retain their initial generation of owners, which is hardly encouraging for a nation aspiring to be entrepreneurial and independent.
“There should be better Corporate Governance Institutions in place. I want to encourage Seabeige, if you want us to meet after 50 years when our Chairman General will be an Old man, I want to attend your 50th anniversary with everybody here testifying because by that time you’ll be a global product. If you can have that picture, then you begin to set a certain culture right in this business for it to grow beyond us.
I want to encourage you, let’s get the Corporate Governance Institutions right from the word go. It should not be said that right after the original owners passed, the company also passed. This is a major problem of many Ghanaian businesses in our country. Let’s begin to understand how to grow businesses beyond our lifetime and beyond our first and second generation and when we do that, we will be answering the question of job creation”.
On his part, the Managing Director for Seabeige Ghana Limited, Eric Amofa who is a producer of Safare Tissues indicated that the product has come to stay and to compete on the market legally.
He said, “our vision is to ensure Safare Tissue becomes a household name, easy-to-find and the number one choice for all tissue related needs for every home in Ghana”.
Eric Amofa said even though Seabeige has the capacity to produce products to suit demands in Ghana, they will continue to improve in order to meet all demands.
“The current capacity of Seabeige Ghana Limited can supply all of Ghana and we will continue to make further improvement in our capacity to meet the growing market demands,” he said.
At the launch, Media personality and businesswoman, Deloris Frimpong Manso was unveiled as the Ambassador of the product wholly produced in Ghana and Ghanaian-owned.
Delay, who was very positive about the latest introduction said she agreed to join Seabeige Ghana Limited as an ambassador for Safare Tissues because she wanted to chat a new path and believes a wholly Ghanaian-owned company produces the product here in Ghana.
She indicated that “Safare is born to succeed and I’m very happy to be part of this success story. I cannot wait to say in the future that I can relax and say they started with me and they will stay with me. All I know is that I don’t touch something which will fail. That’s not it, there can’t be failure and Delay in the same place.
“If there is one thing I can say, it is the fact that I have the Midas Touch and everything I touch it turns to gold. I can give you endless examples, the Delay show is fifteen years old and it feels like a day old. It’s moving from Grace to Grace,” she said.
About Safare Products
Safare Tissue is a wide range of quality, soft and highly absorbent virgin tissue products made from the finest and yet most hygienic tissue materials.
The amazing quality and beautifully packaged SAFARE products represent the new experience in the world of tissues on the Ghanaian market.
Safare products include Toilet Rolls, Paper Towels, Table Napkins, Facial Box Tissue, Pocket Tissue and other related products will be introduced unto the market in 2023.
Owing to the recent appreciation of the Ghana cedi and the subsequent reduction in the prices of petroleum products, GUTA directed its members to decrease the prices of their products. However, most traders have yet to obey the directive.
Speaking in an interview, Deputy Majority Leader, Alexander Afenyo-Markin, stressed the need for traders to reduce the prices of their commodities.
“I heard the GUTA president calling on members to reduce prices. I will repeat the same call to the business men and women, entrepreneurs and traders. If it was out of uncertainties and the currency market, you felt that you should increase prices for your goods, today things have changed. It is by reducing them that we will all benefit from the economy. So it is my humble appeal that prices are reduced so that the ordinary Ghanaian can afford”, he said.
An astronomical surge in the price of fuel and the depreciation of the Ghana cedi affected the prices of goods and services on the Ghanaian market.
As of November 1, 2022, a dollar was selling at GH¢13.55 at forex bureaus in the country and GH¢13.01 per dollar per interbank rate.
A litre of petrol was also going for GH¢19 and diesel GH¢23 [within the same period]. Prices of goods on the market went up subsequently, compounding the hardships for the average Ghanaian. Traders attributed the hikes in the prices of products on the market to these developments.
But in a twist of events, the Ghana cedi in the past week has gained some significant strength against the US dollar, a situation that led Bloomberg to describe the Ghana cedi (on December 10, 2022) as “the best performing currency against the US dollar [for that week].”
As of the time of filing this report, the cedi was selling at GH¢9.00 per dollar. Prices of petroleum products have also reduced. Consequently, President Akufo-Addo, has entreated traders to decrease the price of products, and drivers to also oblige by the new directive of the Ghana Road Transport Unit (GPRTU) to decrease their fares.
“I add my voice to those of GUTA, GRTCC and others, to appeal to manufacturers, traders and transport operators, that with the height of the cedi’s recent depreciation and increased prices of goods and services, to reduce their prices of goods and services now that the cedi is regaining much of its strength. I believe this is not only a fair request but also a just one.”
Member of Parliament for Manhyia South Constituency, Dr Matthew Opoku Prempeh,has commissioned the newly constructed Otumfuo Astro turf at Dichemso in his constituency.
The commissioning, as part of efforts to provide the youth in Manhyia South “a safe, secure and modern facility to hone their footballing skills,” took place last Sunday, December 18, 2022.
The astro turf was initially scheduled to be commissioned on Saturday, September 3, 2022, but was postponed due to unnamed reasons.
In his remarks on Sunday, Dr Opoku Prempeh, who doubles as the Minister for Energy, urged the people of Dichemso and the entire constituents of Manhyia South to ensure the effective maintenance of the facility for generations yet unborn to benefit from the same.
He also expressed gratitude to GETFUND, “for the support as well as all others for the construction of this important project.”
Present at the commissioning were Minister for Youth Sports, Mustapha Ussif, Members of Parliament, NPP National, Regional and Constituency Executives.
The use of the sand based artificial grass pitches has become the norm as maintenance of natural pitches has been a challenge in the country.
The issue gained national attention in 2019 when the Baba Yara Sports stadium failed to host the President’s Cup between Asante Kotoko and Hearts of Oak due to the bad nature of the turf.
The game between Kotoko and Hearts barely lasted for 10 minutes before the referees and match commissioner realised the pitch was not safe for use after a downpour.
There has been a switch to Astro turfs since then.
Astro turfs are highly durable, can withstand wear and tear, is weather-proof, does not get waterlogged, and is not prone to pest infestations, therefore making it a preferred choice to natural pitches.
Tema Park is the first national artificial pitch funded by FIFA’s ‘Win in Africa with Africa’ project.
There is also the Achimota Mile 7 astro turf funded by Frimps Oil Company Limited, Essikado Astro Turf.
On Tuesday, August 30, the Ghana Football Association President, Kurt Okraku, cut sod for the construction of the betPawa Park, one astro turf, at the Ghamaman Centre of Excellence at Prampram.
Flashy Brooklyn pastor Lamor Whitehead has been arrested on charges of fraud, extortion, and lying to federal authorities, The New York Times reports.
According to federal prosecutors in Manhattan, Whitehead had scammed money out of multiple victims including a retired parishioner he received $90,000 from. He told his alleged victims that he would fufill promises he never followed up on, or said he could make them richer through investments. The charges stem from alleged behavior from before he was robbed at gunpoint during a live-streamed sermon at his church, Leads of Tomorrow International Ministries, in July earlier this year.
Through his lawyer Dawn Florio, Whitehead denied the allegations against him. “Bishop Whitehead denies these allegations and we are going to fight them vigorously,” said Florio.
The incident involving one woman Whitehead pocketed $90,000 from began in 2020, when she was recovering from surgery and he offered to help her buy a new home. The woman, Pauline Anderson, filed a lawsuit against him earlier this year, and said she withdrew the funds from her retirement account. She asked him for the money back, but he had already invested it elsewhere by the point she did.
Per The New York Post, Whitehead has also been accused of extorting a businessman for $5,000. He asked the same man to loan him $500,000, which he said would “obtain favorable actions by the New York City government.” In a statement, FBI Assistant Director Michael J. Driscoll said, “If you are willing to attempt to obtain funds through false promises or threats, the FBI will ensure that you are made to face the consequences for your actions in our criminal justice system.”
Whitehead was also arrested in September after he got into an altercation with a woman who attended his service.
Ministry of Local Government, Decentralisation, and Rural Development, as well as its Departments and Agencies, will receive an amount of GH¢2,074,323,448 from the government to undertake its projects in the 2023 fiscal year.
This comes after Parliament on Monday approved the ministry’s budget estimate during the House’s deliberation on the 2023 budget statement presented by Finance Minister Ken Ofori-Atta.
The sector minister, Dan Botwe, who was in the chamber, moved the motion for approval of the ministry’s budget estimate.
Prior to the secondment of the motion by the Chairman of Parliament’s Local Government and Rural Development Committee, Mr Emmanuel Akwasi Gyamfi, the Minority raised a number of concerns following a report by the Committee.
An amount of GH¢1,861,335,000.00 was allocated to the Local Government Ministry and its agencies for the 2022 fiscal year.
A report from the Committee observed that while a total amount of GH¢859,805,000 was approved for the Ministry for compensation in 2022, GH¢741,470,596.23 had been released as of September 2022, leaving a difference of GH¢118,334,403.77 for the fourth quarter of the year.
The report read; “The amount released constitutes 86.2 per cent of the Compensation Budget and the difference mentioned afore, constitutes 13.8 per cent which an average will not be sufficient to pay salaries and allowances of staff of the Ministry and its agencies for the fourth quarter.”
Member of Parliament for New Edubiase, Mr Abdul-Salam Adams, noted that the update on the property rate was missing from the report.
The MP for Bia East also claimed that the Ministry failed to transfer finance to the local assemblies for the whole year.
On his part, Mr Emmanuel Gyamfi bemoaned the lack of office space for the Birth and Death Registry, which would see to their day-to-day administrative works.
On behalf of the committee, he charged the District Assemblies Common Fund to find the registry an edifice.
In his submission, he further revealed that an amount of GH¢214,951,250 representing 25 percent of the allocation for compensation, would be needed for payment of salaries for the last quarter of the 2022 fiscal year.
“Mr Speaker, the officials from the Ministry admitted that the 13.8 per cent left for the fourth quarter of 2022, was not sufficient, and they added that it was as a result of the government’s directive for the payment of Cost-of-Living Allowance (COLA) for all public servants on the Single Spine Salary Structure,” he said.
Speaker of Parliament, Alban Bagbin, called for support for the ministry to strengthen those at the grass-root.
Next year, the ministry is expected to continue assessing the performance of the Metropolitan, Municipal, and District Assemblies (MMDAs) using the District Assemblies Performance Assessment of Tool (DPAT) based on the outcomes of the 2020 and 2021 Fiscal Years.
The Department of Parks and Gardens under the Ministry would, on the other hand, continue to maintain 2.1 million square metres of landscaped areas and road medians in urban and peri-urban communities.
The department would also see to the dissemination of 400,000 seedlings for sale and supply to institutions, and plant 100,000 trees across the country as part of the horticultural sensitisation programmes.
After getting a master’s degree in biotechnology from Georgetown University, Annan started her work as a research analyst intern at the University of Giessen and with global companies like Athgo International and MAP International.
Her background also includes a stint at the UN as an intern in 2008 and later as a consultant, where she raised funds and resources for UN projects around the world. She has also advised The Rose of Sharon Foundation, founded by Nigerian business magnate Folorunsho Alakija, and the European Commission’s Devco Steering Committee for the International Colloquium for the Creative Economy.
In 2011, Annan founded Roberta Annan Consulting, later rebranded as Annan Capital Partners (ACP). Her goal was to bridge the gap between investors and impact investment opportunities in Africa.
She also founded Africa Fashion Foundation to support the growing fashion industry on the continent, recognizing the need for new ideas and the fact that the creative potential of Africans had long been ignored or wasted in Europe and the United States.
Despite her expertise and understanding of the potential of African entrepreneurs, Annan initially had no track record to prove it. So, she launched both her consulting business and the fashion foundation with her own personal funds. But her hard work and dedication have paid off, and ten years later, she has launched a €100-million ($115.8 million) fund to invest in small- and medium-sized businesses in Africa’s creative and fashion sectors.
This groundbreaking move has made headlines across the continent and has cemented Annan’s reputation as a trailblazer in the world of African business. The investment, which is expected to accelerate growth in Africa’s creative sector, was provided by ACP’s Impact Fund for African Creatives, an impact investment and reverse alternative investment fund based in Luxembourg.
Through the fund, ACP has begun awarding grants of up to €50,000 ($57,900) to selected projects to support African professionals with the skills, networks, and capital needed to reach a global audience. The fund has already deployed capital of more than $3 million into a number of businesses since its launch in 2021.
Annan’s dedication to supporting small businesses and the growth of the fashion industry on the African continent is truly admirable.
Through her work with ACP and the Africa Fashion Foundation, she hopes to play a formative role in expanding the social capital of African countries and contributing to the UN Sustainable Development Goals, while promoting inclusive growth in these economies.
Following their 1-0 loss against Hearts of Oak in game nine of the Ghana Premier League, Nsoatreman FC assistant coach Boniface Ayipah has made a sincere plea to the fans.
In the 54th minute, Kwadwo Obeng Jr. capitalized on a goalkeeping error to score the game’s sole goal.
The win takes Hearts of Oak to the second spot with 16 points, while Nsoatreman FC lie 7th on the league table with 13 points.
”These pressures and things are coming from supporters. For me it is normal, whether in defeat or winning, we must support the team. We have to keep supporting them,” Ayipah told Startimes in his post-match interview.
“We need to go back to the field and reorganize ourselves, understand exactly the wrongs that we did here today and then we will improve upon them and pick points.”
Nsoatreman FC suffered their second successive defeat in the Ghana Premier League and will look to bounce back to winning ways when they take on Great Olympics on match week 10.
