One of Nigeria’s most talked about elections in its history since returning to democracy in 1999 will soon come up in 2023 and the political space has witnessed some Nollywood stars who joined the race to win different elective positions.
This article highlights the six top Nollywood stars who are contesting for different positions in the 2023 election.
1. Funke Akindele: The journey of Funke Akindele into politics came at a time her husband, JJC Skillz, announced the crash of their marriage.
A few weeks later, the mother of two announced she is taking a break from the movie industry and would be running as Deputy Governorship candidate alongside the People’s Democratic Party’s governorship candidate, Olajide Adediran, popularly called Jandor in the 2023 Lagos state election.
2. Desmond Elliot: The movie star is considered the longest-serving politician who is an entertainer. He started his political career in 2014 when he contested for the Lagos State House of Assembly under the All Progressives Congress.
He contested and won the Surulere Constituency twice and still running for the same position in the 2023 election.
3. Carolyn Hutchings: Just like Funke Akindele, Carolyn is newbie in politics and she is running as the deputy governorship candidate of the African Action Congres (AAC) in Akwa Ibom State.
4. Banky W: Nigerian singer cum actor started his journey in politics when he ran for the House of Representatives seat in 2019 but lost to Ibrahim Obanikoro.
Banky W is taking another shot to represent the people of Eti-Osa at the green chambers of the National Assembly and hopes to win the seat.
5. Tonto Dikeh: The controversial actress who is also a newcomer in politics is trying to change the narrative about her lifestyle.
Tonto is running as the deputy governorship candidate for the African Democratic Congress (ADC) in Rivers State alongside the governorship candidate, Tonye Ibraye.
6. Femi Branch: In July 2022, Femi Branch joined his colleagues, Tonto Dikeh and Funke Akindele to emerge as a running mate to a governorship candidate.
He was named as Deputy governorship candidate to Ogun State gubernatorial candidate, Tofunmi Ogunronbi of the National Rescue Movement (NRM).
Yul Edochie
Yul Edochie declared his intention to run for the position of the President of Nigeria in the 2023 presidential elections.
Yul who recently received heavy knocks by many of his internet fans for marrying a second wife. He said experience had prepared better to rule the country as a good leader.
“As President I will make good decisions that may not favour certain people, I will provoke the corrupt ones, they will insult me, they will spread negative news about me.
‘’And in the face of it all I will stand firm and unshakeable; I will never react in anger nor attack anyone unjustly.
‘’I will remain focused on the task of rebuilding our country, Yul said.
Many of his fans said he wasn’t good enough to become the president of the nation because he married a second wife. It was not clear if the party has picked him as its presidential candidate.
He believes that although the New Patriotic Party (NPP) was elected into office to reduce the nation’s enormous debt, the issue has not been resolved since they gained office.
In light of the current economic situation, Professor Gatsi claimed that the government’s debt swap program will be detrimental to Ghanaians rather than beneficial.
“We voted them to power to solve this problem and this problem has not been solved and that is failure on the part of government and to use this draconian approach to deal with this issue, I am sure it will do more harm than good,” he added.
Government on Monday, December 5, 2022, rolled out a debt restructuring programme to restore its capacity to service its high-rising debt.
Under this programme, all domestic bondholders have been charged to exchange their instruments for new ones.
Existing domestic bonds as of December 1, 2022, will be exchanged for a set of four new bonds maturing in 2027, 2029, and 2037.
The annual coupons on all of these bonds will be set at 0% in 2023, 5% in 2024 and 10% from 2025 until maturity.
The recent declaration by the finance minister, Ken Ofori-Atta, on the measures the government would take to reduce the impact of the country’s domestic debt market on investors is welcome news for investors, according to financial expert Christian Tachie-Djan.
Mr. Tachie-Djan stated that given the period of rumor and confusion in the nation, Ken Ofori-announcement Atta’s was timely.
In an interview on the Happy Morning Show with Samuel Eshun, he noted, “There are a lot of means countries go about these ‘Haircuts’ so we were actually in limbo and weren’t sure how the government was going to do it, how it was going to play out at the end of the day. So there were speculations and panic within the investor community. I think because of the heighten speculations that we were getting on the airwaves, people were just coming up with anything desperate to the Ghanaian public so it was expedient that the Finance Minister before the start of the new week, put out a statement so that some calm will be restored in the financial landscape.”
“2017 we went through some serious house cleaning exercise as far as the finance landscape is concerned that allowed some banks to be closed while others were merged with existing ones. So it was important that we allowed our finance sector to relay very solid. So yesterday what we got from the Finance Minister I think the investor community should be happy with it,” he added.
“It did not come out with the external creditors, how these things are going to play out but at least we know that our domestic creditors are safe. Because there are a lot of circulations that people were thinking even those with fixed deposits in the banks will also be affected, treasury bills were going to be affected, bonds and all that and we weren’t really sure what was going to happen. So that statement from the Finance Minister I think it has put to rest some of these speculations and I think this is one of the best news the investor community is going to get,” he mentioned.
According to economist Menson Torkunoo, local bondholders who will be hit hardest by the government’s domestic debt swap program may pass out from shock as a result of the size of the losses on their investments.
Finance Minister Ken Ofori-Atta announced on television on Sunday that domestic bondholders must replace their current instruments for new ones in accordance with the scheme.
According to him, existing domestic bonds as of 1st December 2022, will be exchanged for a set of four new bonds maturing in 2027, 2029, 2032, and 2037.
“We don’t have an honest government. This is very sad. I tell you honestly people are going to die as a result of this announcement. I am telling you the facts. Because this is the same way this same government spent about 25 billion Ghana cedis to wipe away or to rationalize between seven to nine billion they have alleged to have caused by banks,” he stated.
Mr. Tukornu underscored the situation where the nation’s economy is heading to ground zero has never happened in the history of the country.
The economist added that he cannot fathom the dire situation could warrant “bonds holders, especially domestic ones, to sacrifice their hard-earned investment to enable the government to recover. It has never happened before. In my few years as a Ghanaian who has a little bit of the economy. I am really sad.”
The coins are anticipated to go into circulation starting on Monday, December 12, 2022, according to a statement released by the Central Bank on December 6, 2022.
The coin is similar to the current GH 1 coin in design, form, and pictures; the Scale of Justice is on the reverse and the Coat of Arms is on the front.
“The upgraded GH¢1 coin is bi-metallic with an outer gold and inner silver. The coin has a pronounced rough edge and incorporates a latent image, which appears in a rectangular form below the Scale of Justice at the back,” the BoG noted.
Meanwhile, the Central Bank said existing and upgraded GH¢1 coins will co-circulate until the existing coin is gradually withdrawn from the public domain.
The BoG however called on the public to accept the coins and use them for transactions.
Award-winning songwriter and singer Fameye has responded to a claim by popular Ghanaian prophet, Nigel Gaisie that he is an ingrate.
It will be recalled that the founder of the Prophetic Hill Chapel called out Fameye for failing to get in touch with him or appreciate his contributions to his successful music career despite the prayers and prophetic words he gave in regards to the singer recording a breakthrough.
According to Prophet Nigel, the ‘Nothing I Get’ singer, now a popular artiste, has refused to thank him after his prophecies came to pass.
On the occasion of Fameye’s birthday, the preacher took to his Facebook page to express his disappointment.
He wrote: “I prayed for him to be big by the mercies of God, coming back to say thank you, Jesus, bless you prophet of God is even a problem. It’s your birthday, I pray for you in that you will give God his due and appropriate people who as it were, helped you on your way of becoming who you are now; Fameye…PNG.”
Fameye in an interview on Culture Daily on 3 Music, admitted to visiting the prophet’s church with the hope of a big break in his music career.
He disclosed that the man of God prophesied an elevation in his career but added that he was soon going to die. This revelation became a huge bother to Fameye leading him to break up with all his girlfriends for fear of losing his precious life.
In an account by the singer, Nigel even gave him the date the unfortunate incident was going to take place.
“I want to comment on Nigel’s case. Yes, I indeed visited his church and he prophesied to me about my death. I don’t want to give details but he said I was going to die and added that I was going to blow. I was visiting other churches because I wanted God to cause an elevation in my music career. After his death prophesies, my soul nearly left my body. I even broke up with all my girlfriends. I had about three women at the time. The prophet even gave me the date I was going to die. Recently I was in America when he tweeted that I have been ungrateful to him after his prophecy about me came to pass,” he explained.
Fameye in his interview pledged to visit Nigel to settle their difference. In the meantime, he has acknowledged the prophet’s role in his success story.
“I want to use this medium and inform you that I haven’t forgotten about you, I will come to see you at the right time. What you said has come to pass but I know that your prayers also averted the death you saw. There is no bad blood, God bless you,” Fameye added.
The Minority Leader in Parliament reportedly questioned why President Akufo-Addo, who led the Kumepreko rally in 1995 to voice his opposition to economic suffering, now imposes more levies on Ghanaians.
He emphasized that the market price of products and services will automatically increase as a result of the 2.5% increase in VAT.
This will cause further suffering for Ghanaians during the current economic downturn, he claimed.
Addressing journalists on Monday, December 5, 2022, Haruna Iddrisu said, ” whilst whittling away the little we have as a country in this intransigent manner, the Akufo-Addo/Bawumia government has decided to pile more hardships on the people of Ghana through the introduction of more taxes in the 2023 Budget presented to Parliament. What moral right does President Akufo-Addo have to increase VAT by 2.5% when he led the “KUMI PREKO” demonstration in 1995 resulting in the loss of five lives?”
“As sure as night follows day, this will worsen the hardship faced by Ghanaians, as the prices of almost all items will increase instantaneously once this tax comes into effect,” he added.
Haruna Iddrisu further said the Minority in Parliament have detected 22 additional tax and revenue measures in the 2023 budget read in parliament by the Minister of Finance, Ken Ofori-Atta.
The additional taxes, he bemoaned, will make life more unbearable for Ghanaians.
“At a time when people are facing the worst economic crisis and hardships in their lifetime, the last thing that is desired is further taxation,” he said.
Government, on Thursday, November 24, 2022, announced an increment in Value Added Tax (VAT) by 2.5 percent for consumers of goods and services.
The move, according to government is expected to improve its domestic revenue measures while seeking to reach an IMF deal to restore macroeconomic stability.
Economic Crisis Ghana Will Need 15 Years To Recover – Ato Forson
Following the recent drop in fuel prices, the Ghana Private Road Transport Union (GPRTU) has unequivocally indicated that it has no intention of lowering transportation costs.
The Ghana Private Road Transport Union (GPRTU), the Ghana Road Transport Cordinating Council (GRTCC), and the Ministry of Transport have been urged by the Association of Passengers in Ghana (APG) to review and immediately reduce transportation fees to reflect current market prices for gasoline and diesel.
This, according to the group, will bring some relief to Ghanaian passengers.
The group made the call after the prices of petrol and diesel had recently gone down yet it is not reflecting in public transport fares.
“Our checks from some energy institutions such as COPEC and the IES have revealed that the fuel prices will further decline in the coming days, hence our call,” a press release signed by the convenor of the Association, Afia Kwarteng Asamani had noted.
They believe this will ensure some fairness in the system
A litre of petrol is sold at around Gh¢15.41 while diesel is sold at around Gh¢18.86 per litre.
But speaking on Ghana Kasa show on Kasapa 102.5FM/Agoo TV, on Tuesday, the Public Relations Officer of GPRTU, Abass Moro, said the recent small percentage in reduction of fuel prices does not attract a reduction in transport fares for now because prices of vehicle spare parts keep increasing.
He added, however, that should there be any increment in fuel prices, the transport union will increase transport fares.
Abass Moro stated that the GPRTU will only consider reducing transport fares if a litre of fuel is sold at GHC10.00.
“If any member of the public is expecting a reduction in transport fares following the recent reduction in fuel prices, that person should forget it for now. The public should rather appeal to the government to reduce fuel prices to GHC10.00 per litre, which will at least be reasonable. When that is done, then there will some reduction in transport fares.
Cameroon FA boss Samuel Eto’o was caught on camera punching a YouTuber in Qatar
The incident happened at Stadium 974, when the head of the Cameroon FA appeared enraged by the Algerian and viciously assaulted him.
Eto’o, who was leaving the stadium after the South Americans’ brilliant 4-1 win, found reason to argue with a cameraman outside the stadium and got into a physical altercation.
The victim of Eto’o’s blow was Algerian YouTuber Said Mamouni, who later released a video confirming that he had reported the incident to Qatari police.
“I’m at the police station to file a complaint against Etoo, he hit me and someone else with him pushed me and destroyed my camera,” Mamouni said on his YouTube channel.
”I asked him how is Bakary Gassama [African World Cup playoff referee], and if he gave him a bribe, he hit me and destroyed both my camera and mic, I know I will take my rights here in Qatar as it is a state of law, he did hit me in the chest and the face and in my elbow.”
Airline passengers in the European Union (EU) will soon be able to use their phones to full effect in the sky.
The European Commission ruled airlines can provide 5G technology on board planes, alongside slower mobile data.
This could mean flyers will no longer be required to put their phone on airplane mode – though the specifics of how it will be implemented are unclear.
The deadline for member states to make the 5G frequency bands available for planes is 30 June 2023.
This will mean people can use all their phone’s features mid-flight – enabling calls as well as data-heavy apps that stream music and video.
Thierry Breton, EU Commissioner for the Internal Market, said the plan would “enable innovative services for people” and help European companies grow.
“The sky is no longer a limit when it comes to possibilities offered by super-fast, high-capacity connectivity,” he said.
The end of airplane mode?
The EU Commission has reserved certain frequency bands for aircraft since 2008, allowing some services to offer mid-air internet access.
But this service has been historically slow, as it relied on equipment to connect people via a satellite between the aeroplane and the ground.
The new system will be able to take advantage of the much faster download speeds provided by 5G, which according to mobile network EE can be over 100Mbps – enabling a film to be downloaded in just a few minutes.
Dai Whittingham, chief executive of the UK Flight Safety Committee, told the BBC that airplane mode was historically important due to a lack of knowledge about how mobile devices affect aircraft.
“There was a concern they could interfere with automatic flight control systems,” he said.
“What has been found with experience is the risk of interference is very small. The recommendation has always been that once you are in flight, devices should be in in airplane mode.”
and even potentially lead to erroneous altitude measurements.
But Mr Whittingham said this is not an issue in the UK and the EU.
“There is much less prospect of interference,” he said, “We have a different set of frequencies for 5G, and there are lower power settings than those that have been allowed in the US.
“The travelling public wants 5G. The regulators will open up that possibility, but there will be steps that will be taken to ensure that whatever they do is safe.”
Glenn Bradley, Head of Flight Operations at the UK Civil Aviation Authority – the regulator responsible for the safety of aircraft within the UK – said the use of mobile phones to make calls is prohibited on UK airlines, unless the aircraft has been “equipped with an approved mobile phone control system”.
“We understand that plans to enable 5G onboard flights will operate in the higher frequency bands and therefore won’t interfere with aircraft systems,” he said.
“We stand ready to work with the industry to assist the delivery of this innovation.”
Due to planned maintenance work being done by the Ghana Water Company Limited, water service might be interrupted in some areas of Accra (GWCL).
The exercise, according to GWCL, will begin on Wednesday, December 7, 2022, and is anticipated to end on Friday, December 9, 2022.
The following locations are anticipated to be impacted: Tema, Industrial Area, Baatsonaa, Coca-Cola, Kasapreko, Lashibi, Klagoon, Sakumono, Ashaiman, Adjei-Kojo, Borteyeman, Santoe, Trassaco, Afresco Estate, Manet Court, Regimanuel Estates, O’Reily Senior High School, Airport Hills, Martey Tsuru, and its surrounding communities.
The 48-hour shutdown will allow engineers to replace the 40-year-old pumps at the Tema Booster Station of Ghana Water Company Limited with new heavy-duty pumps.
GWCL said it has as a result rented water tankers to supply water to essential service providers such as hospitals and schools to forestall any eventuality.
It also urged consumers in the affected areas to store some water while it is flowing now.
“The Management of GWCL wishes to inform the public know that arrangement has been made to ensure that Engineers working on the project will work around the clock, thus will not leave the project site until the work is fully completed and assures the public that, supply will resume immediately the mission is accomplished,” part of the release read.
“Although the project is in the interest of our cherished customers, Management apologizes for the inconvenience this shutdown will cause the consuming public,” it added.
Following a 2-0 loss against Uruguay, the Black Stars fell out of the tournament after the first round.
The Black Stars needed a draw or win against Uruguay after defeating South Korea in their last group match to go to the round of 16.
However, the team was unable to come to an agreement with Uruguay, its so-called “enemy.”
Ghana made a strong start to the game, but fell apart after captain Andre Ayew missed a penalty in the 21st minute, a repeat of what happened in the 2010 World Cup in South Africa.
The Arsenal midfielder has been criticized by fans for his underwhelming performances for the Black Stars at the World Cup.
Partey was tipped for greatness at the mundial but the 29-year-old failed to glitter as Ghana suffer elimination from the tournament after defeat to Uruguay.
Speaking to 3Sports, the former Inter and AC Milan star urged Ghanaians not to criticized Partey, saying he should rather be encouraged.
“Partey for me is excellent, he is superb and a world class player, you can’t take that away from him,” he told 3 Sports.
“He is so intelligent in midfield and he is very elegant. When he plays he is a joy to watch.
“With the national team, I sit up there and I always think, I see Partey plays and sometimes it’s like I don’t see him around the team like in the last two games. But if Partey switched for like 25% of his strength, his mind and his intelligence and the way he knows how to play, the Black Stars will be crazy massive,” he added.
“For me, you can’t criticize him, I won’t and I don’t want anybody should, let give him his time, let just leave him and he will just switch play and one day he will excel”
The administrative court of London rejected, on Monday, the petition of a British NGO (WSC), working on behalf of the “polisario”, which challenged the association agreement between Morocco and Great Britain.
With this verdict, the British justice confirms the validity of the partnership agreement between Morocco and the United Kingdom, which fully benefits the populations and the development of all the regions of the Kingdom, from north to south, without exception.
This judgment thus inflicts a new setback on the enemies of the territorial integrity of the Kingdom, who are trying to hide their repeated failures by trying in vain to convince the British justice to re-examine the post-Brexit trade agreement, signed and supported by the two Kingdoms.
As soon as the verdict became known, the British government reaffirmed its commitment to continue the partnership with Morocco.
“We welcome today’s verdict. We will continue to work closely with Morocco to maximize the £2.7 billion of trade between our countries,” said a spokesperson for the UK Department for International Trade.
“We look forward to continuing our exchanges with our Moroccan counterparts through the Association Council next year,” he assured.
The Morocco-UK Association Agreement, signed in London on October 26, 2019, entered into force on January 1, 2021.
The Agreement restores, within the framework of bilateral relations, all the effects that the two countries granted each other under the Morocco-EU Association Agreement.
It thus ensures the continuity of trade exchanges between Morocco and the United Kingdom after December 31, 2020.
By allowing the two Kingdoms to settle definitively in a structured strategic partnership, endowed with operational and institutionalised cooperation instruments, and driven by a common ambition, the Agreement constitutes a guarantee for Moroccan and British companies undertaking economic and trade relations in all sectors of cooperation and covering the whole of the Kingdom.
The Sagnarigu MP on Monday carried a ball of kenkey and a piece of fish to Parliament House for a practical demonstration of the economic hardship Ghanaians face currently.
A. B. A. Fuseini who was contributing to the debate of the government’s 2023 Budget, said the popular fish and kenkey enjoyed previously by both the rich and poor, is no longer affordable to the average Ghanaian due to the current hike in food prices.
“They say that the evidence of the sweetness of a pudding is not in its aroma but the actual eating. The real issues of the economy vis-à-vis the impact it has on the lives of our people is clear.
“Mr Speaker, this ball of kenkey was ¢2 but today it is ¢4. This fish which I bought the same size last year was ¢6 cedis but today the same size is ¢12.
“It is abundantly clear that through the vast incompetence of this government especially the economic management team and the Minister for Finance, this economy has been run into a ditch,” he said.
Meanwhile, the Finance Minister on Sunday, December 4 announced a debt restructuring programme to put the country’s debt level on a sustainable path.
Government is currently before the International Monetary Fund (IMF) to secure a programme to support its ailing economy.
Mr Ofori-Atta said the Debt Exchange Programme is part of a key requirement for the government to obtain an economic programme from the International Monetary Fund.
Government in its 2023 Budget has also introduced some revenue measures to revive the economy and ease Ghanaians from the current difficulties.
Lightning strikes killed five people and injured seven others at the weekend, the authorities in the northern Mozambican province of Cabo Delgado have said.
According to district administrator Matias Constantino, who confirmed the fact today, people were hit while watching a recreational football match in Nangande disctrict.
Speaking to state radio in Pemba, Mr Constantino said that in addition to causing fatalities, the phenomenon damaged the electrical system of the district administration building.
Lightening strikes, cyclones and floods are common in central and northern Mozambique, particularly during the rainy season that runs between October and the end of March.
Senegal defender Abdou Diallo has recommended the Football Federation to maintain Aliou Cisse as head coach despite their exit at the 2022 World Cup in Qatar.
Jordan Henderson gave England the early lead, and Harry Kane added their second goal of the match to increase their lead.
After converting Phil Foden’s cross in the 57th minute to secure a convincing victory for Gareth Southgate’s team, Bukayo Saka added the cherry on top.
“We have full faith in him,” RB Leipzig defender Diallo said post-match. “We are united in victory and defeat. We celebrated him less than a year ago.”
Cisse had said after the match: “We lost a game and got knocked out, I want to learn the lessons and then we will see.”
Coach Aliou Cisse led Senegal to win their first-ever Africa Cup of Nations title in Cameroon after beating Egypt in the final on penalties earlier this year.
The Minority claims that an additional GHC80 million will be spent on the national cathedral’s construction, bringing the project’s total cost to GHC420 million.
He said the GHC80 million does not constitute a spending priority at this time of economic crisis where the country is a cup in hand begging the IMF for a $3billion fund to support the economy.
“For a government that is unable to print textbooks for basic school pupils several years after introducing new curricular, unable to pay NABCO arrears and that is indebted to contractors and suppliers to the tune of over GHC40 billion, this is most imprudent and unacceptable,” Mr Iddrisu stated.
The project is expected to provide a sacred space and infrastructure for the formal religious activities of the nation, like state funerals and presidential inaugural services.
The government promised the cathedral will be funded by the private sector but so far some GHC420 million of the taxpayers’ money has been pumped into the project.
Nana Tonardo, who is bent on fishing out Afia Schwarzenegger from her hideout has taken to social media once again to take a dig at her.
The controversial socialite has reportedly been on the run ever since the court issued a bench warrant and instructed that she should be confined to a 10-day jail sentence.
This comes after the complainant, Mr. Chairman Wontumi, filed a defamation lawsuit against Afia and some other United Showbiz panelists including Kwame A Plus, Mr. Logic and the host, Nana Ama McBrown.
But Afia Schwarzenegger has reportedly fled town and all efforts to fish her out of her hiding place have proved futile.
Tonardo, who has since been taunting Afia by consistently calling her out online and asking netizens to intensify their search, has stormed social media with some allegations.
According to him, Afia who had been living in South Africa for several years, fled the country to seek refuge in Ghana after she was caught up in a damning scandal.
Questioning Afia’s whereabouts, Tonardo expressed that history has repeated itself now that Afia Schwarzenegger is nowhere to be found.
“WERE IS ASIBOLANGA??? History has repeated itself, running away from South Africa ???????? to Ghana, and now running away from Ghana to where???? ohhhhhh asi,” he wrote while sharing a picture of the comedienne who is believed to be hiding in Kumasi.
He revealed this in an interview on Radio Oriental, when asked about Diego Alonso’s contract.
“the agreement remains as from day one. We talked a year ago and we’ve kept talking. The link ended and you have to sit down to talks in a few days when the anger passes,”
“You have to talk between the parties and we will see what the aspiration of each one is,” he said and was forceful: “ours is that he continue in office, we said it to covered letters before the World Cup,”
“We raised it with Diego and we will have to have a definition in the next few days,”
On Uruguay’s early exit from the tournament, Ignacio Alonso said: “it is a tremendous pain because we narrowly missed the classification, we could have arrived, but it did not happen. Korea’s goal came late on and there we had a chance to convert the third. It was a negative and painful outcome,”
In a recent interview with Vanguard, Pete Edochie disclosed that he did not feel good about his son’s decision to marry a second wife since he is a Christian.
Yul, however, was not happy about the report shared by popular blogger Linda Ikeji on Instagram as he took to the comment section to question it.
According to him, there were other trending issues like actress Uche Ogbodo and Wizkid’s drama, so Linda Ikeji should rather focus on them.
“My matter still dey ground? Una wan use my own spoil other people own. Allow Wizkid and Uche Ogbodo to trend in peace naa. This is their time,” he wrote.
The fraction of the populace that had access to better sanitary facilities was used to access the two municipalities, Krowor and Adentan.
The measure was one of around 22 indicators evaluated across seven sectors, including governance, water, sanitation, education, and energy.
The Krowor and Adentan municipalities were also part of Metropolitan, Municipal and District (MMDs) ranked the top 12 MMDs in the sanitation sector with more than 90 score points.
Other 10 MMDs
The 10 were Akuapem North Municipality, Berekum East Municipality, Atwima Kwanwoma District, Asutifi North District, Ahafo District, Tema Metropolis, Oforikrom Municipality, Tema West Municipality, Accra Metropolis, La Dade-Kotopon Municipality and the Ada East District.
Nine out of the top 12 ranked MMDs in the sanitation sector were municipalities and metropolises.
The DLT report was aimed at generating evidence for addressing unequal access to services and development opportunities for children.
According to the report, the results on sanitation indicated that specific policies were adopted by the highest performing MMDs to tackle poor sanitary issues.
It noted that the provision of adequate sanitation was, therefore, a crucial measure of the quality of life of people since it reduces their vulnerability to diseases.
Poor sanitation
However, the report also named 10 lowest scoring MMDs in the sanitation sector.
They were Lower Manya Krobo District, East Mamprusi Municipality, Mfantsiman Municipality, North Dayi District, Adansi South District, Asikuma-Odoben-Brakwa District, North Gonja District, Amenfi Central District, Builsa North District and Sekyere South District.
Eight out of the least 10 performing MMDs on sanitation were districts, which were usually rural.
The report indicated that the Greater Accra, Western, Western North and Ashanti regions scored above 50 per cent, while Savannah and Upper East scored below 30 per cent.
Access to water
Meanwhile in the water sector, 12 MMDs scored 100 per cent in the provision of safe drinking water sources.
They were accessed by the proportion of population with access to safe drinking water sources.
Nine out of the top 12 ranked MMDs in water provisions were in the Greater Accra Region, with the remaining in the Central and Ashanti regions.
They were also in the municipalities and metropolises, which were predominantly urban in nature.
The MMDs were Ablekuma North Municipality, Ablekuma West Municipality, Accra Metropolis, Ayawaso Central Municipality, Cape Coast Metropolis, Effutu Municipality, Ga North Municipality, Korle-Klottey Municipality, Kpone-Katamanso Municipality, Krowor Municipality, La Dade-Kotopon Municipality, Mampong Municipality.
Meanwhile, the 10 lowest performing MMDs in the provision of safe drinking water were Tatale-Sanguli District, Saboba District, Kumbungu District, Zabzugu District, Mion District, Kwahu Afram Plains North District, Atwima Nwabiagya North District, Suame Municipality, Nanumba South District and Nanton District.
From the results, nine out of the 10 least ranked were districts, with seven located in the Northern Region.
Suame Municipality in the centre of Kumasi scored 28 per cent, whereas Nanton District in the Northern Region was the lowest ranked MMD with only 1.11 per cent of inhabitants having access to safe drinking water sources.
Although the agreement states that there won’t be any interest (coupon) payments made in the first year, 2023, those payments will start coming in the second year at a rate of 5%.
Yesterday, when the Ghana Debt Exchange (GDX) program was introduced, Minister of Finance Ken Ofori-Atta promised that the scheme wouldn’t have an impact on bondholders’ main investments.
“There will be no haircut on the principal of bonds. Individuals who hold bonds will also not be affected at all,” the minister said, adding that efforts were underway to protect the financial sector from any spillover. principal of bonds. Individuals who hold bonds will also not be affected at all,” the minister said, adding that efforts were underway to protect the financial sector from any spillover.
The exercise would affect approximately GH¢137 billion of the domestic notes and bonds of the Republic, including E.S.L.A. and Daakye bonds, he said at a press conference in Accra to launch the programme.
“This is a key requirement to allow Ghana’s economy to recover as fast as possible from this crisis. This is also a key requirement to secure an International Monetary Fund (IMF) support,” Mr Ofori-Atta said.
Four bonds
The Daily Graphic gathered that all the bonds received would be put together and then distributed, per some guidelines, into the four new bonds due to be issued.
Per the allocation formula, the minister said, 17 per cent of the total debt instruments received for the exchange would be allocated to the short-term bonds, maturing in 2027, and another 17 per cent allocated to the intermediate term bond, maturing in 2029.
The third category of medium-term bonds maturing in 2032 will have 25 per cent of the expected GH¢137 billion existing cedi-denominated bonds, while 41 per cent of the bonds will be swapped for long-term bonds, which will mature in 2037.
For the interest rates, technically known as coupons, on the new bonds, Mr Ofori-Atta said the annual coupon on all of the new bonds would be set at zero in 2023 and five per cent in 2024.
However, from 2025, the bonds would attract 10 per cent annual coupons until they matured in 2037, he said.
“Coupon payments will be semi-annual,” the Finance Minister said, adding: “This means the interest payments due for a particular year will be spread in two equal instalments.”
He said the domestic debt exchange was part of a more comprehensive agenda to restore debt and financial sustainability, adding that the government was also working towards a restructuring of external indebtedness, which would be announced in due course.
Government instruments
By law, some investment fund managers and entities are expected to invest heavily in government instruments, such as bonds and treasury bills.
While some of the bondholders are individuals, many others are institutional investors, such as pension funds, fund managers, universal banks, insurance and reinsurance companies.
Therefore, while the arrangement will not directly affect individual bondholders who are not registered in the Ghana Securities Depository (GSD), individuals who belong to collective investment schemes will be affected.
Mr Ofori-Atta said the government would take the necessary steps to safeguard the financial sector from any spillovers.
“Thanks to well-targeted regulatory measures and the creation of a Financial Stability Fund (FSF), banks, pension funds, insurance companies, fund managers and collective investment schemes will be supported to ensure that they are able to meet their obligations to their clients as they fall due,” he said.
He added that the government had dialogued extensively with regulators across the financial sector to agree to provide regulatory forbearance for all entities whose financial positions were adversely affected by virtue of participating in the exchange.
The Daily Graphic also learnt that the forbearance comprised a set of regulatory measures, incentives and leeway that would enable financial institutions to overcome some challenges.
For banks, that can mean relaxing the norms for restructuring assets, so that less provision is made for non-performing assets.
The Daily Graphic again gathered that financial sector regulators, namely: the Bank of Ghana (BoG), the Securities and Exchange Commission (SEC), the National Insurance Commission (NIC) and the National Pensions Regulatory Authority (NPRA), would, in the coming days, take turns to spell out their specific enhancers to the domestic debt exchange programme.
Mr Ofori-Atta said treasury bills were “completely exempted, and all holders will be paid the full value of their investments on maturity”.
Rallying call
The minister indicated that moving the country out of debt could only be achieved through the active participation of all key economic actors.
“We call upon all domestic debt holders to take their share in ensuring that public debt sustainability is quickly restored by participating in this exchange programme,” he said.
Background
The debt sustainability analysis (DSA) conducted by the government and its multilateral development partners demonstrated that Ghana’s public debt is unsustainable, and that the government might not be able to fully service its debt for some time to come if no action was taken.
Debt servicing is now absorbing more than half of total government revenues and almost 70 per cent of tax revenues.
In addition to debts held by state-owned enterprises, exceeds 100 per cent of Gross Domestic Product (GDP).
“This is why we are today announcing the debt exchange which will help in restoring our capacity to service debt. This is the path towards resetting the economy to a more stable one capable of addressing the development challenges of the country,” Mr Ofori-Atta said.
Ghana’s attempts to forget the painful World Cup memories of their last match with Uruguay failed on Friday as they were forced to revisit the trauma by being eliminated from the tournament in Qatar.
The South Americans let a big lead slip and finished last in the standings due to another missed penalty against them and a 2-0 loss in their last Group H match.
Friday was supposed to be a chance to not only extract revenge but also book a place in the next round — and set a new mark for African football, which has never had three teams advance past the first round at a single World Cup.
But where Morocco and Senegal succeeded in reaching the last 16, Ghana did not, even after being in second spot in the standings going into the final round of group games.
The country remains fixated on the drama of the 2010 quarter-final against Uruguay, when they came within a whisker of being the first Africans to reach the World Cup last four.
Back then they were about to score a last-gasp winner in extra time, on a bitterly cold night in Johannesburg, when a goal-bound effort from Asamoah Gyan was stopped on the line by the hand of Uruguay forward Luis Suarez.
While Suarez was sent off, Gyan hit the resultant spot kick, that would have put Ghana through, against the crossbar, taking the tie into a post-match shootout, which Uruguay won.
PENALTY HEARTACHE
The penalty heartache was revived all over again on Friday at the Al Janoub Stadium as Ghana were given a chance to take the lead when Mohammed Kudus was brought down.
But skipper Andre Ayew, the lone survivor of the 2010 squad, hit a feeble effort which was saved by Sergio Rochet and after that the Black Stars’ challenge visibly deflated.
To make matters worse, Uruguay scored twice not long after the botched penalty to leave Ghana the difficult task of fighting their way back, which proved beyond them.
Ghana had always been expected to struggle at this World Cup after an unconvincing qualifying campaign in which a Nigerian goalkeeping howler saw them win a fortunate place in Qatar.
They had also been humiliated by the tiny Comoros Islands at the Africa Cup of Nations finals in January, exiting early after which they fired their coach.
The appointment of German-born former international fullback Otto Addo in February raised eyebrows as his only previous coaching experience was with the youth teams of Hamburg and Borussia Dortmund.
Addo made it clear he was only staying on for the World Cup and Ghana must now look to start afresh, again having to make a decision on whether to go with a local or bring in a coach from Europe or Latin America.
Whoever takes charge has lots of promising talent to mould. Ghana had the youngest average squad age at the tournament of 23.5 years old and the World Cup experience will stand them in good stead, however bitter it might taste right now.
Fameye has seen it all, ‘wasted’ money, undergone strange prophetic direction, and gone against his wishes in his encounters with pastors and prophets who promised him a breakthrough during his days as an up-and-coming musician.
“I just wanted to blow, I wanted a hit song,” these are the words of Fameye,now a household name in Ghana.
According to the award-winning songwriter and singer, he had no idea of the talent he carried back in the day the reason why he went from one church to another in search of a powerful preacher who could catapult him to greatness through the power of God.
In one of his numerous encounters, a prophet, took him to a riverside to invoke spirits he claimed could grant him his greatest wish.
“I wouldn’t have visited the pastor. I was taken to a riverside at dawn, it was strange. He used onions, garlic, and oils and even told me he was summoning the spirits from my family to back what he was doing for me. I wasn’t okay. I didn’t see any change after his encounter,” the singer narrated.
All these ‘spiritual directions’ came with a price!
Sharing his story on 3 Music, Fameyerecalled how his former manager and CEO of Tetepa Music was generous enough to pay the monies prophets demanded from him.
“I was informed about a powerful pastor who could make my songs blow and so I went to see him with two of my singles Bar Man and Sika Duro. The man of God told me that he was going to charge me GH₵2,000, this was about eight years ago…I informed my management and Tetepa gave me the full amount because that man was very generous but I pocket GH₵500 and gave the pastor GH₵1,500…at that time I didn’t know the talent I was carrying. I just wanted to blow, I wanted a hit song,” he said.
Fameye named the founder of the Prophetic Hill Chapel, Nigel Gaisie, among the men of God who promised him a breakthrough. He acknowledged him in his success story following Nigel’s claim that the singer has failed to show appreciation to him.
According to the ‘Praise’ singer, Prophet Nigel Gaisie gave him a death prophecy but also assured him of an elevation.
“Yes indeed I visited his church and he prophesied to me about my death. I don’t want to give details but he said I was going to die and added that I was going to blow. I was visiting other churches because I wanted God to cause an elevation in my music career.”
He added: “I want to use this medium and inform you that I haven’t forgotten about you, I will come see you at the right time.”
Actress Lydia Forson has poked leading member of the New Patriotic Party (NPP) Gabby Asare Otcere-Darko with respect to current economic challenges Ghana is facing.
Miss Forson, who is known for her hot takes on the economy and politics, coughed up a tweet Gabby authored in 2015 when the NPP was in opposition, she quoted the tweet and sarcastically greeted Gabby.
Gabby’s post read: “If running an economy was all about borrowing your way into an unsustainable debt hole then any half wit could be president.”
Lydia Forson’s quoted tweet of December 5, 2022; read: “Hello from the other side,” accompanied by an emoji of a waving hand.
The Minister of Finance announced a number of measures under government’s Domestic Debt Exchange (DDE) programme late Sunday.
He stated in a 4-minute address that the announcement was in line with government’s Debt Sustainability Analysis as contained in the 2023 budget he presented to Parliament on November 24.
The Minister laid out among others the exchange of existing domestic bonds with four new ones as well as their maturity dates and terms of coupon payments.
He also addressed the overarching goal of the government relative to its engagements with the International Monetary Fund as well as measures to minimize impact of domestic bond exchange on different stakeholders.
“The Government of Ghana has been working hard to minimize the impact of the domestic debt exchange on investors holding government bonds, particularly small investors, individuals, and other vulnerable groups,” he said before outlining three main measures:
• Treasury Bills are completely exempted and all holders will be paid the full value of their investments on maturity.
• There will be NO haircut on the principal of bonds.
• Individual holders of bonds will not be affected.
The executive secretary of the Trustees, Thomas Kwesi Esso, CA, assured pension fund participants in a news release that the industry “had not consented to the debt exchange program suggested by the Ministry of Finance.”
He believed that the idea as it had been presented by the Minister of Finance fell short of market expectations, would squander Ghanaians’ money, and further erode market trust.
“This is why we reject it outright,” Kwesi Esso said: “As Trustees, we hold a fiduciary responsibility and are enjoined to seek the best interest of contributors at all times,” he stated.
Kwesi Esso added: “We recognize that inflation has caused significant harm to pension fund assets this year and that there is an urgent need to reduce Government debt burden and restore macroeconomic stability. That should however not be done to the detriment of contributors to pension schemes.”
“We share in Government’s call for burden sharing, but that should be done in the spirit of fairness to ensure a win-win outcome to all stakeholders,” he said.
He, therefore, called on holders of domestic debt to voluntarily exchange approximately GH¢137billion of the domestic notes and bonds – including E.S.L.A. and Daakye bonds – for a package of new bonds to be issued by the Treasury.
Currently, the Debt Sustainability Analysis (DSA) demonstrates that the country’s debt servicing absorbs more than half of total government revenues and almost 70 percent of tax revenues. Additionally, the total public debt stock, including that of State-Owned Enterprises among others, exceeds 100 percent of gross domestic product (GDP).
“The extent to which our interest charges consume some 70 percent and sometimes 100 percent of our revenues is something that is not sustainable, and this is really therefore a recalibration of the whole interest rate regime so that we move into a sustainable level.”
“This demonstrates unequivocally that Ghana’s public debt is unsustainable, and that government may not be able to fully service its debt down the road if no action is taken,” he admitted.
Government’s key objective for this programme, Mr. Ofori-Atta added, is to alleviate the debt burden in a “most transparent, efficient and expedited manner” by means of an Exchange offer while minimising impacts of the domestic debt exchange on investors holding government bonds.
Milovan Rajevac was fired as head coach of the Black Stars after Ghana’s disappointing showing at the 2021 Africa Cup of Nations [AFCON] in Cameroon, and the talent coach of Borussia Dortmund was confirmed as the team’s new boss.
Addo however masterminded the country’s qualification to the 2022 World Cup in Qatar but has exited the group phase with just three points.
“Before I started to work for the GFA, everybody knew and I said it before that I have a contract with Dortmund and I have to respect that,” he told the Ghana FA website.
“Even to come here, it was difficult and the GFA put in a lot of effort to release me and at the end, they came back themselves to Dortmund to speak to the board.
“And at the end, they decided to release me for this task,” he added.
A 3-2 defeat against Portugal and a win over South Korea by the same margin plus a 2-0 final Group H loss saw the West Africans exit the tournament in Qatar with three points.
The government’s proposed debt restructuring program, as presented by Finance Minister Ken Ofori-Atta, has drawn criticism from the Ghana Registered Nurses and Midwives Association (GRNMA).
The government announced its intention to start a debt restructuring for domestic bondholders in terms of interest payments during Mr. Ofori-Atta’s presentation of the 2023 budget.
This will probably have an impact on Tier 2 donations.
The GRNMA has, however, rejected government’s proposal.
In a statement issued on Monday, December 5, 2022, the nurses and midwives said “Pension Funds are a collection of contributions of individuals. By design, they are meant to protect the vulnerable during retirement. Any treatment of individuals as stated by the Minister of Finance must be indeed extended to all individuals as with pension funds including our GRNMA Fund, a provident fund for over 101,000 contributors who are nurses and midwives within the nursing and midwifery fraternity.”
The GRNAMA noted that: “Pensions should not be made to suffer the consequences of Government’s fiscal indiscipline when they have paid their fair share of taxes, worked to build the economy whiles taking very low salary,” among other reasons.”
It added: “As a matter of urgency, government must withdraw the inclusion of Pension funds from its debt exchange programme and allow the funds as invested to until their maturity.”
In comparison to the GH1.37 million aim set for the previous year, the assembly has, as of August 2022, achieved 63.61 percent of its GH2.4 million goal.
Mordecai Quarshie, the Municipal Chief Executive (MCE) of the LeKMA, informed the Daily Graphic that this was the case and refuted claims that the assembly could not achieve the year’s too ambitious revenue objective.
He revealed that the assembly had raised GH¢1.37million for the first eight months of the year, and expressed the hope that their target for 2022 would be met, if not exceeded.
Aside from the efforts that were made to meet the revenue target, Mr Quarshie said the assembly had also discharged it financial obligations towards assembly members in the municipality.
The MCE said the assembly had held regular meetings to deliberate on issues affecting the assembly.
“I can confidently say that we do not owe our assembly members any payments or allocation,” he said.
Senegal and Morocco, the two-time defending champions of Africa, were the only side to get past the group round. Ghana, Cameroon, and Tunisia did not.
However, they posted impressive results despite their early exit as Tunisia defeated holders France 1-0 while Cameroon beat five-time champions Brazil in their final group game.
Ghana also recorded a 3-2 win over South Korea in their second group game at the tournament.
“Even, though, Senegal lost, the standard of the African teams just showed that it has been improving, Morocco look to be a very good team and it is going to be tough, we all now hope that they do well,” Sodje, who has four caps for the Super Eagles told Brila FM.
The conclusion of the 10th Tech in Ghana conference in Accra included a request for technology industry participants to offer inventions aimed at addressing Africa’s current problems.
The two-day conference, which took place at the Accra Digital Centre from Tuesday, November 29 through Thursday, November 30, 2022, brought together qualified participants in Ghana’s tech sector to exchange knowledge and forge the crucial connections that link the tech ecosystems in Ghana and the UK.
The high-level event has featured over 450 speakers and tech companies since 2017, as well as received support and partnerships from entities including the Office of the Vice President of Ghana, Ministry of Communications & Digitalisation, Ghana High Commission UK, British High Commission Accra and the World Bank, among others.
Delivering the welcome keynote address, British High Commissioner to Ghana, Her Excellency Harriet Thompson noted that there was the need to invest in the Tech business because it is the future and as a country, investing in the tech business would not only create jobs but go a long way to put Ghana on the map in terms of digitalization.
“We’re investing in Tech because all of Ghana’s main sectors in the country can not only build the economy for the future but in doing so can create jobs, can enhance security can improve lives and can put Ghana on the map alongside nations right around the world in leading that global, digital economy,” she noted.
According to her, “it is imperative to recognize the power that Tech innovation has had on careers as well as education, especially in terms of activism to prevent violent attacks against women and girls”, as she believes this would also help with the empowerment of women here in Ghana and around the world.
She added that as part of the UK government’s commitment to building a long-lasting relationship with Ghana, her government had already set in motion some projects such as working hand in hand with the Ghana Revenue Authority to develop a Digital Return Tracker, which will help secure financial systems.
“We’ve worked with the Ghana Revenue Authority to help them to develop a digital return tracker, communication is stable and secure financial systems, in other words, people across the country are now able to balance tax obligations with the day-to-day running of their business because they can pay their taxes more easily, more efficiently and more securely, We also provided Ghana training on how to use open-source intelligence and tools to detect, investigate and prosecute and recover the proceeds of cyber-enabled crime” she added.
Her Excellency Harriet Thompson lauded the organisers for putting up such a conference and assured of support to ensure Ghana leads Tech innovation not only in West Africa but across the continent.
The Founder of Tech in Ghana, Akosua Annobil in her introductory remarks expressed appreciation to participants and attendees for coming together to trade ideas and knowledge in the tech industry.
She averred that the Tech in Ghana Conference is a platform where fintech organisations and individuals come and tell their stories, share experiences and knowledge to help expand the tech space in Africa and beyond.
Head of Licensing And Product Authorization within the Fintech and Innovation Office of the bank of Ghana, Nancy Arhinfuwaa Imadi, in an address disclosed that Ghana’s tech ecosystem is one that has been very resilient, adding that Ghana in terms of tech ecosystem has done very well, hence leading to the opening of the fintech and innovation office by the Bank of Ghana.
“Our ecosystem is one that started out across the continent as being very resilient, Ghana has done very well, in fact, our ecosystem started with the opening of the Fintech and innovation office by the bank of Ghana. That shows the seriousness the bank attaches to the space so we are excited about the various ongoing activities”, she stated.
According to her, “the Bank of Ghana expects to provide enough regulatory framework to ensure and guarantee that we have a sound digital payment ecosystem”.
She cited the launch of Sandbox, a platform that allows innovators, startups, licensed, unlicensed entities who have innovative ideas, solutions, business models, and immature digital financial solutions that are currently not covered under implied or explicit regulations to come within a live environment and test these innovations so that at the end of the day we can find out whether they are viable and ready for the market.
Head of Operations at the Ghana Digital Centre, David Ofori eulogized the founder of Tech in Ghana, Akosua Annobil for her efforts so far in terms of building the Tech in Ghana brand and also used the opportunity to call on the public as well as necessary stakeholders for their support.
“I think I dare say that it’s the go-to event for West Africa, if not for the continent. If you look at audience participation, there’s almost nobody who plays within the Tech, and the Digital Ecosystem in Ghana, who hasn’t been on this path, for almost everyone from policymakers, government officials, everybody” he averred.
Speaking on the sidelines of the Tech in Ghana conference, Founder of Global Tech Advocates an international grassroots tech community, uniting the private sector in multiple cities and regions worldwide, Russ Shaw expressed his satisfaction with the launch of Tech Ghana Advocates adding that the group being the first of its kind in Africa is a huge and long-awaited climacteric.
“It is a privilege to be in Accra for the launch of Tech Ghana Advocates – our first group in Africa is a huge and long-awaited milestone for GTA. The willingness of the tech community in Ghana to kick start this group and the enthusiasm for its potential impact fills me with excitement for where this group could go,” he said.
The conference saw in attendance, the British High Commissioner to Ghana, Her Excellency Harriet Thompson as well as stakeholder institutions such as Visa, Global Tech Advocates, Ghana Investment Promotion Centre, International Trade Centre, Tony Blair Institute, Bank of Ghana, Farmerline, and Taptap Send among others.
Global long-term local currency deposit ratings for GCB Bank PLC (GCB Bank) have been reduced by international rating agency Moody‘s to Caa3 from Caa2.
Additionally, Moody’s Investors lowered the bank’s long-term foreign currency deposit ratings from Caa2 to Caa3, long-term Counterparty Risk Ratings from Caa2 to Caa3, long-term Counterparty Risk Assessment from Caa2 to Caa3(cr), and baseline and adjusted BCA ratings from Caa2 to ca.
On November 29, 2022, Ghana’s long-term issuer ratings were lowered to Ca from Caa2, with a stable outlook. This was followed by the downgrading on December 2, 2022.
“The outlook on the Caa3 long-term local currency deposit rating has been changed to negative from ratings under review. The outlook on the Ca long-term foreign currency deposit rating has been changed to stable from ratings under review. This action concludes the review for downgrade initiated on 4 October 2022,” a release on Moody’s website on December 2, read.
It said the “rating action captures the deteriorating macroeconomic environment and the increasingly uncertain operating environment for banks in Ghana, as reflected by the downgrade of the sovereign ratings and the lowering of the Macro Profile score to ‘Very Weak- from Very Weak’.”
“The downgrade of GCB Bank’s BCA to ca, on par with the Government of Ghana’s own ratings (Ca Stable), reflects Moody’s expectation that the sovereign debt restructuring planned by the government will negatively affect GCB Bank’s solvency profile. GCB Bank has sizable holdings of sovereign debt securities, at around 3.6 times its shareholders’ equity and 53% of total assets as of year-end 2021,” it added.
However, Moody’s is of the belief that a restructuring of sovereign debt securities would also weaken the banking system’s liquidity, especially if maturities are extended, because it would mean that banks will need to hold on to their government exposure for an extended period, limiting their ability to lend to the real economy.
Netizens are gushing over Ayisha Modi’snew curvaceous body in a couple of pictures shared on her Instagram wall.
The popular music investor was seen in a leopard skin-printed jumpsuit which boldly defined her curves.
She complimented the outfit with a pair of stilettos and a curly human hair.
Ayisha Modi, with her face baked to perfection (Make up), posed by a sleek white range rover in an unidentified compound.
It can be recalled that in May 2022, Ayisha’s new body was spotted in a viral video where she was seen participating in a dance challenge.
Ayisha Modi who resides in the United States stormed the country sometime in September with the new body stature after earlier admitting to undergoing some sort of procedure to shed some weight.
Earlier, the popular socialite disclosed that she was motivated to enroll in a weight loss plan after a visit to the hospital revealed that she had a body mass index of 408, a little over the normal index.
Miss Modi, claimed that she had spent a whopping sum of $40,000, an equivalent of GHC250, 000 in a bid to lose an overwhelming amount of weight.
He further said that the 2023 budget proposal made by Finance Minister Ken Ofori-Atta was targeted toward obtaining an IMF financial bailout.
In a tweet, Dr. Kwakye stated that “the 2023 Budget and the debt exchange offered by the Minister have IMF fingerprints all over it.”
On December 5, 2022, the finance minister stated at a news conference in Accra that all domestic bondholders would swap their existing securities for new ones as part of the debt exchange scheme.
Existing domestic bonds as of December 1, 2022, will be exchanged for a set of four new bonds maturing in 2027, 2029, and 2037.
The annual coupons on all of these bonds will be set at 0% in 2023, 5% in 2024 and 10% from 2025 until maturity.
By defeating Belgium and Croatia in their group, Morocco broke a 36-year curse to get to this stage of the World Cup in Qatar.
At their Round of 16 match against Spain on Tuesday at the Education City Stadium in Al Rayyan, the Atlas Lions will be armed with the confidence they garnered from their group-stage victory.
Morocco head coach Walid Regragui has challenged his team to aim at winning the ultimate trophy since they can achieve it.
Having toppled Belgium, Croatia and Canada in their group, Morocco had a very good defensive record conceding just once after three games and that puts no fears in them against Spain.
They have now allowed only one goal in their last seven matches and since Regragui took over as head coach.
Spain weren’t so convincing during the group stages after advancing with just four points, a win against Costa Rica, a draw with Germany and a defeat to Japan.
However, Luis Enrique’s side hopes to count on their head-to-head record against Morocco to secure a place in the quarter-finals after the game.
Spain have not lost to the Atlas Lions in their three previous meetings with two wins and a draw in the process.
The last meeting was in 2018 in Russia where Spain scored in stoppage time to earn a point when they were trailing.
Spain haven’t reached the quarter-finals of the World Cup since their last in 2010 where they eventually won the tournament in the end.
The IMF “serves as a very good catalytic organization to kick in a lot of international and bilateral support,” the administration claims.
Additionally, it stated that the government’s policy initiatives to reduce debt to manageable levels include the 2023 budget.
The start of a debt exchange programme to reduce the nation’s high debt levels was announced by the finance minister.
He said: “the alternative would be a far worse economic crisis, with protracted closure from international markets (including imported goods and services) and further domestic economic instability both for the real economy and the financial sector. It would also mean depleted fiscal resources to support the neediest.”
“We expect to reach a Staff-Level Agreement soon on an IMF programme aimed at restoring macroeconomic stability and protecting the most vulnerable. To this end, as a government, we are determined to implement wide-ranging structural and fiscal reforms to restore fiscal and debt sustainability and support growth,” he said.
Ghanaian actressJackie Appiah, on her birthday, has travelled back to her roots to give back to society and spend time with the people of her hometown.
In several videos shared on blogger Nkonkonsa’s page on Instagram, the birthday celebration, held at Ejisu Abankuro in the Ashanti Region, also captured the beautiful actress’s mother.
In a colourful Kente outfit with a pair of glasses, the actress’s mother sat next to her 39-year-old daughter.
Since the images emerged, the internet has been set ablaze, with many drawing a resemblance between the two.
For many netizens, it was the first time they had seen Jackie’s mother, and they took the opportunity to shower praise on her for looking dashing in her old age.
Reacting to her pictures, a netizen said “Mummy is so beautiful, wow that’s her photocopy tho.”
“This woman is still beautiful,” another user added, while another said, “she looks exactly like her mom.”
On Jackie’s 39th birthday, December 5, 2022, she released official photos highlighting her glam team.
Fans, colleagues, and friends on social media have joined in the celebration with their good wishes for the actress, who is also a philanthropist.
The Youth Employment Agency (YEA) has increased the monthly allowances paid to the Community Protection Assistants (CPAs) by about 30 per cent.
This was revealed by the Deputy Chief Executive Officer (Operations) Alhaji Bashiru Ibrahim, at a short ceremony in Accra on Monday to symbolically climax the successful completion of their training programmes, held simultaneously, for the first batch of the newly trained CPAs across the country.
With the upward adjustment announced at the passing-out ceremony, the beneficiaries would now receive a sum of ¢500 as their allowances effective January 2023.
This first batch of the CPAs numbering 5000 beneficiaries represented one-third of the 15,000 young men and women who are being recruited across the country over the next three months to assist the police in community security.
The training arrangement followed an existing Memorandum of Understanding (MoU) between the YEA and the Ghana Police Service (GPS) to provide an auxiliary role in the Service and help the police maintain law and order in the communities.
The CPAs trainees were taken through subject areas including g Community Policing, Traffic Management, Client Care, Criminal law and Criminal procedure.
Others were Criminal Investigation and Preservation of Evidence, Human Rights, Basic Officer Skills, and Public Order Management.
The rest were Crime Prevention Methods, Basic Education on Terrorism Domestic Violence, Ethics and Code of Conduct for Law enforcement Officials etc.
The outstanding 10,000 youth representing the next two batches of young men and women are waiting to have their turn in the training programme.
In his remarks, the Deputy CEO noted that the day could be termed as a mission accomplished because it was in consonance with the core mandate of the Agency to create jobs for the youth.
He reminded the youth about their description in the concept paper as CPAs with the responsibility to assist the police at the community level but not to consider themselves as an integral part of the mainstream Police personnel.
He explained that since Community policing was the knowledge imparted to them, they were expected to hold on to that role and serve as good ambassadors of the Agency.
He, however, cautioned that the Agency would not hesitate to dismiss any CPA who misconducted himself or herself in the course of discharging their duties by arrogating to themselves status of police officers and officer ranks to misrepresent themselves and thereby mislead the public.
He said such conduct was unacceptable and went on to cite an example of a CPA who made such false misrepresentation about himself to people in the area where he had been deployed to assist the police.
He urged the CPAs to comply with the rules and regulations governing their training at the NPTS to open windows of opportunities for them in future recruitments into the mainstream service.
He also hinted that in line with the vision of, His Excellency the President, to address youth unemployment, the Agency was poised and committed to that vision and had already taken steps with recruitment drive into the traditional modules.
Aside from the 15,000 CPAs, he cited examples of 6,000 youth into the Community Health Workers (CHWs) module, training some 2,000 for the Prisons Office Assistants Module, some 3,000 youth being considered for Fire Assistants Module, over 700 youth to be engaged nearly next year as Artisans in the road construction space and hoped to recruit at least 37,000 youth, in total, before the end of 2023.
He explained further that the Ekumfi Juice Factory and the Komenda Sugar Factory are some areas the Agency had begun talks to enter into partnerships to create jobs for the youth in those communities and beyond.
In his welcome address, the Commanding Officer of the NPTS, Chief Superintendent of Police Mr Samuel Asiedu Okanta, described the training programme as a success due to the manner the trainees conducted themselves and the fact that most of the trainees had previous experience and knowledge about the CPAs work.
In his words of advice, he entreated the graduating personnel to be disciplined at all times and endeavour to be civil in their dealings with members of the public.
“You are to assist the Police to maintain law and order and win the hearts and minds of people whom we are mandated to serve with honour and integrity. You should respect and protect human dignity, maintain and uphold human rights of all persons you will come across in the course of performing your duties as CPA personnel”, he explained.
He reminded the CPAs of the vision of the Ghana Police Service to become a world-class Police Service capable of delivering planned, democratic, protective and peaceful service up to the standards of international best practice.
He, therefore, challenged them in the face of scorn or ridicule from the public, to maintain a calm composure and always ensure whatever they did as CPAs was legal, professional and conformed to international best practices.
The Commanding Officer noted that Policing was a shared responsibility and therefore entreated the public to cooperate with the CPAs and Members of the GPS to furnish them with the necessary information which would help the police to arrest criminals and miscreants who try to disturb the peace of the larger majority in our democratic dispensation
The government has declared that it will take all necessary steps to protect the financial institutions’ solvency as they participate in Ghana’s domestic debt swap.
On Monday in Accra, Mr. Ofori-Atta made the commitment during the formal introduction of Ghana’s domestic debt swap scheme.
The programme is to alleviate the debt burden in a most transparent, efficient, and expedited manner.
He said in this context, by means of an exchange offer, the Government had been working hard to minimize the impact of the domestic debt exchange on investors holding government bonds.
“It does not embed any principal haircut on Eligible Bonds, as we promised. Let me repeat this fact as plainly as I can, in this debt exchange individual holders of domestic bonds are not affected and will not lose the face value of their investments,” he said.
The Minister said for this reason, the Governor of the Bank of Ghana would follow suit with details of the necessary assistance in due course.
“We have also dialogued extensively with regulators across the Financial Sector including Securities and Exchange Commission, National Insurance Commission and National Pensions Regulatory Authority to agree that regulatory forbearance will be provided to all entities whose financial position is adversely affected by virtue of participating in this exchange,” he added.
He said the debt exchange provided an orderly way to put the economy back on track and these efforts would be complemented by fiscal measures to protect the neediest and most vulnerable in society.
Mr Ofori-Atta said the Government expected overwhelming support to this exchange and the success of this necessary endeavour depended on the public’s cooperation.
He called on the media to support the Government in disseminating the right information to economic actors, saying “we are all in this together and we intend to get out of this together.”
A 14-year-old girl has died and another, aged 13, has been seriously injured after they were attacked by a man with a knife while walking to school in southern Germany.
Police say the suspect came out of a refugee shelter in the village of Illerkirchberg on Monday morning and attacked the pupils.
The older girl later died in hospital.
German police have arrested a 27-year-old man, who they say is an asylum seeker from Eritrea.
Officers searched a nearby building and found him with a knife they suspect was used in the attack. Two other men were also detained.
The suspect is under police guard in hospital where he’s being treated for an unspecified injury.
In a statement, police urged the public not to use the incident to stoke suspicion of foreigners or asylum seekers.
“Everything connected to this is completely unclear so far,” police spokesman Wolfgang Juergens told reporters.
The 13-year-old girl is recovering from her injuries, which are not life threatening, local media reported.
Illerkirchberg is a small town with a population of less than 5,000 according to the 2015 census.
Mayor Markus Haeussler said everyone in the town was in shock.
Germany’s interior minister Nancy Faeser said the “terrible news” had shaken her.
“I mourn the girl who was killed and sincerely hope that the injured girl will recover… The police are investigating all the backgrounds with intensity,” she wrote on Twitter (in German).
Emil Wood, popularly known as Nana Tonardo, has slammed Kwame A Plusfor criticizing the court’s judgement in which some UTV panelists including himself were fined GHC65,000 each.
On December 1, 2022, the court slapped UTV’s United Showbiz host, Nana Ama Mcbrown, and some panelists including Kwame A Plus and Mr. Logic an amount of GHC65,000 each in a defamation suit filed by NPP’s Ashanti Regional Chairman of the NPP, Chairman Wontumi.
Afia Schwarzenegger, who allegedly championed and stirred the insults against Chairman Wontumi has also been ordered to serve a 10-day jail term.
But sharing his thoughts on the issue, Kwame A Plus thinks the court did not give them a fair hearing.
In a discussion on the United Showbiz following the judgement, a displeased Kwame A Plus described as exorbitant the amount they were instructed to pay among other concerns.
However, Nana Tonardo has taken to social media to slam A Plus for criticizing the court’s judgement.
Describing A Plus as a disrespectful young lad, Nana Tonardo issued a stern warning to the former concerning what he described as the incessant habit of disrespecting elders in the country.
“Kwame A Plus. I used to respect you a lot. I used to regard you a lot as a senior brother and colleague in the industry. But I can see that you don’t respect yourself. I have realized that you don’t respect anyone either. You are fond of disrespecting elders including the president. You disrespected Chairman Wontumi and when the court issued their judgement you had the nerve to criticize it. You had the effrontery to compare how much you would have been fined if it were to be Mahama’s government. You have been stupid for long for saying this government is useless. Did this government ask you to go and insult Chairman Wontumi on live TV? You parade yourself as though you are untouchable. You talk and insult anyhow but I can assure you that your time will come,” he stated in a video shared on Instagram
As a result, the government has proposed a debt exchange program, encouraging domestic investors to voluntarily exchange their current bonds for new ones.
The administration has also stated that the “haircut” will not apply to the principal of treasury bills or government bonds.
Ghana’s growing public debt stock has become a matter of great concern as conversations with the International Monetary Fund for financial assistance continue.
But if the country’s debts are found to be unsustainable, the IMF may not provide financial assistance to the country.
So, the government may have to consider debt restructuring, a move many have already hinted at as a solution to the country’s high debt issues.
What is debt restructuring
According to Investopedia.com, debt restructuring is a process used by companies, individuals, and even countries to avoid the risk of defaulting on their existing debts, such as by negotiating lower interest rates.
Instead of waiting to go bankrupt, most institutions are advised to restructure their debt in a manner that gives them a longer duration to pay their debts or makes them less expensive.
Usually, when an agreement to restructure is reached, the lenders either decide to reduce the interest rates on loans or extend the due dates for the repayment of the credit facilities.
This gives the country or business ample time to pay their loans and avoid bankruptcy.
Also, when debts are restructured, it makes it less probable to default on loans as payment becomes more flexible.
In Ghana’s case, debt levels have been on the rise as inflationary pressures, coupled with a deteriorating exchange rate have caused Ghana’s debt to skyrocket to GH¢402 million as of July 2022.
However, even though experts have noted that a restructuring may be the country’s best option, they have also explained that this may have grave effects on domestic investors.
A ‘haircut’ policy on the other hand is a debt restructuring method where the remainder of the debt is written off or the interest rates are reduced to make them less expensive.
Other types of debt restructuring include Debt-for-equity swaps and Issuing callable bonds.
Midfielder for the Black Stars, Mohammed Kudus has finally spoken out after Ghana was eliminated early from the World Cup in Qatar.
The star of Ajax was Ghana’s standout performer at the World Cup, helping the Black Stars score three goals. In three games, Kudus tallied two goals and one assist.
The 22-year-old won a penalty for Ghana in the crucial game against Uruguay last Friday but captain Andre Ayew missed from the spot, as the Black Stars went on to suffer a 2-0 defeat, leading to their exit.
After the game, Kudus admitted the players failed to show up when it mattered but insists lesson have been learnt and the team will bounce back strongly.
“A team is like a puzzle, every jigsaw piece is important to solve a problem or complete a picture. When Ghana needed us the most, collectively by our arts we painted an unpleasant picture souring 12 years of pain. As a team we take responsibility for letting Ghana down but .we pick the positives to grow. History has proven that the most valuable arts came from good to great with time and purpose,” wrote the midfielder on Twitter.
“Thank you for the love and support,” he added.
Kudus is expected to travel to the Netherlands and rejoin his Ajax teammates for mid-season training ahead of the resumption of the Dutch Eredivisie.
Hanke, who has shown a particular interest in shedding light on the world’s economic troubles, claimed that Ghana is facing an impending debt catastrophe, which has led the nation to potentially seek economic assistance from the IMF for a 17th time.
The move meant that Ghana is inviting eligible holders to exchange GH¢137.3 billion of the domestic notes and bonds, including Energy Sector Levy Act Plc and Daakye Trust Plc, for a package of New Bonds to be issued.
Following the announcement, Prof. Hanke on his Twitter expressed further concern about Ghana’s local currency which he noted has depreciated by 56 percent since 2020.
“A debt crisis looms on the horizon in #Ghana. Since January 1st, 2020, the #cedi has depreciated ∼56%. Thanks to Ghana, my rogue’s gallery of JUNK CURRENCIES just keeps growing,” he wrote on December 4, 2022.
The government, he declared, “is absolutely committed to solving the problems we confront as a nation in continuing our recovery from the pandemic’s impact within our budgetary consolidation and debt sustainability.”
“The future looks promising and the personnel in charge of managing the economy is quite skilled.
This budget, in my opinion, puts us on an unstoppable path toward independence from the government and individual enterprise.
Generations of job seekers and job creators have passed, “He declared.
According to him, the Ghanaian economy is being managed by a team of competent people.
Speaking at a press conference Monday, December 6, 2021, the finance minister stated that the Akufo-Addo-led government is committed to addressing the problems of Ghanaians amidst the economic challenges.
Ken Ofori-Atta noted that the acceptance of the reviewed 2022 budget will set the country on a transformational path.
He said, “Government is very committed to addressing the challenges we face as a nation in sustaining our recovery from the impact of the pandemic within our fiscal consolidation and debt sustainability.”
“We have a very competent team managing the economy and the prospects are bright. I believe this budget sets us on the path of irreversible transformation from dependence on the state to individual enterprise. From generation of job seekers to generation of job creators,” he stated.
The budget presentation is in accordance with Article 179 of the 1992 Constitution and section 21 of the Public Financial Management Act, 2016 (Act 921).
According to an internal assessment, the government would typically lose somewhere around GH800 million if it had to pay all the taxes that the trotro or commercial transport companies are demanding.
Is all of this money lost? “No, that’s the solution,” he said.
“I really think we need to find a way – either it’s a fast-track court or whatever it is – to be able to really just focus on ensuring that people are brought to book; that for me is the biggest deterrent.
“We can put in place all the structures and so on, but if people are not punished for acts they committed there is no deterrent – and therefore they will get back to doing the same old thing.”
Read the full story originally published on November 5, 2019, by thebftonline
Even though the government through the Attorney-General has charged a former Chief Executive Officer (CEO) of the defunct Capital Bank, William Ato Essien, for his alleged role in the collapse of the bank and two others, Mr. Adu Boahen reckons stringent sanctions are needed to prevent a recurrence.
Speaking as one of the panelists at the closing of the 8th Ghana Economic Forum (GEF) in Accra, he stated: “I think one thing that has not worked well is the sanctions/punishments for those who perpetrated criminal acts; and that has been primarily because the courts have not worked as they should.
“I really think we need to find a way – either it’s a fast-track court or whatever it is – to be able to really just focus on ensuring that people are brought to book; that for me is the biggest deterrent.
“We can put in place all the structures and so on, but if people are not punished for acts they committed there is no deterrent – and therefore they will get back to doing the same old thing.”
He also suggested a credit rating system for banks, which will help with their interest rates and loans.
The Bank of Ghana (BoG) in 2017 embarked on a comprehensive reform agenda to strengthen the regulatory and supervisory framework for a more resilient banking sector.
A total of 16 universal banks which once operated in the country have been collapsed within two years as part of measures taken by the Bank of Ghana to cleanse the banking sector and make it more robust.
On her part, Elsie Awadzi – a Deputy Governor of the Bank of Ghana, emphasised that reforms undertaken by the central bank have made the banking sector better – and urged the banks to deploy more technology in their operations.
A senior partner at KPMG, Andrew Osei Akoto, commended the BoG for the “bold” measures it introduced into the banking sector, and added that it is time institutions are held to account in order to get the best of them to snowball into multinationals.
The Minister of Food and Agriculture (MoFA), Dr. Owusu Afriyie Akoto has begun a tour of northern Ghana.
The tour which is the last leg of the minister’s regional working tours he started early on this year, will take him to the Upper West, Upper East, North East, Savannah and Northern regions.
It comes on the heels of the celebration of National Farmers Day last Friday, December 2, 2022. Accompanying the minister on his tour are national directors of the MoFA.
Addressing a staff durbar and stakeholders at the Upper West Regional Coordinating Council in Wa on Monday, December 5, 2022, Dr. Owusu Afriyie said he had already been to 11 regions, adding that “I am in the northern part of the country now to check agriculture matters; it is going to take about a week.”
“I make it a point to visit each region in the country every year with all my directors to see how policies made in Accra have impacted on farmers outside Accra,” he explained.
From the Upper West, the minister and his entourage will move to the Upper East region.
On the issue of shortage of inorganic fertilisers, he reiterated that it was a global issue, hence he entreated farmers in the region to adopt organic fertilisers.
Dr. Owusu Afriyie explained that the Planting for Food and Jobs (PFJ) Market is an intervention by the government to help bring down the soaring prices of foodstuffs on the markets.
“Prices of foodstuffs in the urban centres are ridiculous. We’re in the middle of harvest and prices of foodstuffs are expected to be reduced but it’s not so! We had to intervene, and honestly the PFJ Market [initiative] is doing well. We want to cut down prices of foodstuffs,” he stressed.
From the Regional Coordinating Council, the minister and his entourage visited farm fields including Abu Dassan Ventures, the agro processing company dealing in groundnut paste, Tombrown, ‘banku’ mix, and ginger powder, among others.
Speaking to the media on the sidelines of the minister’s visit, the Chief Executive Officer (CEO) of Abu Dassan Ventures, Mumuni Dassah Issah spoke of plans to get the company’s products to every part of the country.
“Bono East is where our sales are most generated. We are looking forward to ensure that our products get to every corner of the country,” he stated.
According to him, his company has advanced measures to collaborate with the MoFA “So that some of our products will be given space on the PFJ Market.”
“Our major challenges are lack of personnel, funding and infrastructure. We are appealing to the authorities to assist us with loan facilities at considerable interest rates to help us expand production and bring on board new projects,” he appealed.
Early on, the Upper West Regional Director of Agriculture, Emmanuel Sasu Yeboah gave a presentation on the state of agriculture in the region.
He underscored the fact that agriculture is the main source of livelihood for inhabitants of the Upper West region, revealing that the sector employs about 80% of rural dwellers in the region.
“The farmers mostly produce staple food crops such as maize, rice sorghum, wheat, millet, cowpea, groundnut, yam etc…,” he noted.
He added however, that shea butter, ‘dawadawa,’ mango, cashew and cotton remain major economic crops grown in the Upper West, along with livestock farming.
Mr. Sasu Yeboah indicated that both the PFJ and the RFJ were boosting farm yields in the region compared to previous years.
“Availability of the soya bean thresher has boosted soya been production and I can say Upper West Region can produce soya for export.”
