Her fashion sense is one of the best and she can not be left out when fashionable Ghanaians are made mention of.
She is a great influence to the Ghanaian fashion industry because she’s always seen in appealing clothing.
The Ghanaian actress promotes most Ghanaian fashion designers and hairstylists because she slays their brands perfectly in a very decent and elegant way.
Apart from being a great actress and presenter, she’s also a brand ambassador for many products.
Nana Ama usually loves to play with colours so most of her dresses and hairstyles are very colourful.
Taken from her Instagram page (IAMAMAMCBROWN), are some beautiful photos of the gorgeous actress.
Merqury Republic, organizers of the annual Ghana DJ Awards Festival, popularly referred to as Africa’s Biggest DJ Event, have released the first set of performers to mount the big stage on November 5, 2022, at the Silver Star Tower.
Fans will witness action-packed non-stop performances from notable DJs and music acts from across Ghana and beyond.
“We have been waiting since our last edition to celebrate our 10th anniversary in grand style. Now we are a couple of weeks out, and the excitement is palpable,” says Merqury Quaye, Founder of the Ghana DJ Awards Festival.
Rocking the big stage on November 5 at the Silver Star Tower is sensational award-winning Reggae/Dancehall star Stonebwoy, Highlife star Kuami Eugene, Gospel act Obaaba Christy, Keche, Kumasi’s finest Andy Dosty, DJ Aroma, DJ Azonto, AK Songstress, dancer Incredible Zigi and the Afrozig Dance Company, The Militants Dance Group, DJ Xpliph, Deri, Lumi DMR and Vanilla.
According to organizers, the lineup explains the relationship between DJs and musicians.
“We are genuinely excited about this year’s event. DJs play vital roles in promoting our music across the globe. Therefore, it is refreshing to note that musicians recognize these efforts and will mount the stage to celebrate the biggest night in DJ culture with us. There are more to be announced,” Merqury added.
Over the past ten years, the Ghana DJ Awards night has been graced with performances from a tall list of acts such as Medikal, DJ Vyrusky, Andy Dosty, DJ Switch, Shatta Wale, Stonebwoy, Kidi, Kuame Eugene, MzVee, Captain Planet, Patapaa, Adina, D-Black, Flowking Stone, Mr. Drew, Kwabena Kwabena amongst others.
On Saturday, October 15, as part of the Ghana DJ Awards Festival, Merqury Republic organized the 3rd edition of the Ghana DJ Clinic, an educational curation designed to educate, empower and foster meaningful relationships among incoming and professional DJs alongside other creatives.
The Ghana DJ Awards Festival continues to be the only award show dedicated to recognizing, developing, and rewarding Disc Jockeys across Africa. The theme for the 2022 event is ‘The Greatest’.
In 2021, rapper Guru and Highlife singer, Kuami Eugene,were caught up in a beef after it emerged that the latter had turned down his senior colleague’s collaboration request resulting.
The local industry witnessed Guru releasing “Who Born Dog”, a diss song targeted at Eugene.
In one of his tweets, the rapper made it clear to the Lynx Entertainment signee that his reign and the hype surrounding his brand was one day going to come to an end.
His tweet dated August 8, 2021, read: “I know that you will not be under Lynx Entertainment forever but remember not to have any issue with Lynx Entertainment because those that exited couldn’t maintain the hype. There are always new Lords so remember nothing last forever.”
The tweet has resurfaced after social media users posited that there might be bad blood between Eugene and his label, Lynx Entertainment.
Although the singer has not confirmed the rumours, others believe that his tweet that reads “I try saa say I go stay, buh chaley I for leff. Suro Nipa,” might have nothing to do with his label.
Until there is a confirmation, rumours of Kuami Eugene parting ways with the Ghanaian label owned by music producer, Richie Mensah continue to intensify.
The Social Security and National Insurance Trust (SSNIT) is pushing for an amendment of the National Pensions Act, 2008 (Act 766) to compel employers to include the allowances of employees in the computation of their pensions.
The move is to enable workers to earn bigger pensions when they retire.
The Director-General of SSNIT, Dr John Ofori-Tenkorang, announced this at a breakfast meeting called at the instance of the Trust for employers from the Greater Accra and Eastern regions last Wednesday.
“Some employees earn huge allowances but never allow for it to be included in their basic salary on which their pension is calculated. At retirement, they complain about earning small pensions but they forget that while in service, they ring-fenced their allowances for their pensions to be calculated only based on their basic salaries which may be small,” he said.
Dr Ofori-Tenkorang said the scheme had been structured in a manner that the bigger the income on which the pensions were calculated, the better for the contributor when he or she retired.
He said if some retired workers were earning between GHC10,000 and GHC120,000 per month while others were taking as low as GHc300, which is the minimum, it confirms the fact that the more the amount on which the pensions were based, the better for the employee.
At the end of their active service, SSNIT will only pay pension of up to 60 per cent of the GHC4,000 and not the entire GHC10,000 which includes allowances earned.
Against this background, Dr Ofori-Tenkorang said the amended Act would consolidate their earnings before their pensions were calculated and deductions made accordingly.
“As it stands now, workers’ pensions were calculated on the basic salary and not gross income which includes allowances,” he explained.
According to the Director-General, the amendment would also take into account the issue of penalty to make it obligatory for the employer to pay the prevailing interest rate when they delay in remitting to SSNIT pension deductions on behalf of their employees.
Legacy investments
The Director-General added that SSNIT was restructuring its non-performing investments to enable it to generate more returns to support the pension scheme.
Dr Ofori-Tenkorang said many of the non-performing investments were inherited by his administration in 2014 .
Consequently, an investment team had been put in place to re-trigger SSNIT’s investment portfolios for further action.
Additionally, he said his outfit, would partner other investors in areas where SSNIT’s investments were underperforming.
“What we are doing is to restructure some of the underperforming investments, especially those legacy investments that we feel are not suitable for us to be majority shareholders; we are going to invite investors who are in that business to partner us.
“The restructuring is to make sure we get the necessary returns to support the pension scheme,” Dr Ofori-Tenkorang said.
As part of efforts to boost investments, Dr Tenkorang explained that a transaction advisor had been engaged and was currently working on procurement processes to have shares in hotels belonging to SSNIT disposed to strategic investors.
Electronic payment
Also at the function, SSNIT introduced an electronic payment system to allow employers and self-employed workers pay their SSNIT contributions with ease.
The payment platform, ssnitpay, went live on October 10, 2022.
Members can now pay SSNIT contributions using their Mobile Money Wallet via USSD short code, Mobile Money POS – walk-in and Debit Card via the Trust’s Web Portal – portal.ssnit.org.gh. The innovation forms part of new measures to enhance service delivery to members and clients of the Trust.
Dr Ofori-Tenkorang, who introduced the system, noted that members needed to dial *711*9# to access the Mobile Money payment platform.
The adoption of the e-payment platform is expected to bring relief and convenience to employers and members, who hitherto had to travel long distances to a SSNIT branch or a SSNIT partner bank to pay their contributions.
Dr Ofori-Tenkorang said payment of contributions via ssnitpay is E-Levy exempt.
He encouraged the employers and self-employed workers to use the Mobile Money channels to pay their contributions.
“The Trust has also enhanced its self-service portal. The portal now allows members and clients to perform a number of activities including viewing and downloading clearance certificates and requesting negotiation meetings for outstanding debts, among others.
He encouraged employers to pay the right contributions for their workers by consolidating the earnings of their workers for enhanced pensions. This will motivate them to go the extra mile in the discharge of their duties.
“We advise you to pay SSNIT contributions on or before the 14th day of the ensuing month. We also urge you as employers to pay contributions for yourselves because you also deserve a pension,” he stressed.
Radio Presenter, Nana Romeo, has asked Shatta Wale to desist from badmouthing the media, while benefiting from their support at the same time.
According to the Accra FM presenter, the dancehall musician is always found lambasting the Ghanaian media but the same people always promote his events.
Buttressing his points, Nana Romeo cited an example where Shatta’s birthday partywas hyped by the media even though he was captured recently throwing jabs at them.
“Someone tellShatta Wale he should stop playing that game. You cannot sacrifice someone for your fame. You’re always insulting and degrading DJ’s and presenters who usually support you. You look down on their lifestyle and even the sort of clothes and shoes they wear.
“Meanwhile, you need the media in everything you do. Just take a look at your birthday, most of the people that were present were from the media, yet after all this, you turn around and insult them,” Romeo established during his show.
Nana Romeo added that Shatta Wale should be bold enough to stop media houses from playing his songs to prove that he indeed wants to completely cut ties with them.
“If you’re bold enough to insult the media, then you might as well warn them not to play your songs on their radio. You need to issue a directive that any radio station who plays your songs will be sued, so we know how serious you are. Because you insult them but when they show up for your event, you’re happy about it. Also, not every media house needs you,” he added.
He however asked the SM boss to stop parading himself as the richest man there is, adding that there are people wealthier than him.
“You are a big man. Stop doing that. Everyone cannot be rich. Even among the musicians, someone is richer than you. Maybe you want to buy seven houses but someone out there just want to be hiding in his chamber and hall somewhere,” he said.
A Los Angeles-based rapper who acted in the 2018 movie “SuperFly” was sentenced Monday to 50 years to life in prison after he was convicted of sexually assaulting seven victims — including three minors.
Kaalan Walker, 27, was also ordered to register as a lifetime sex offender for a series of crimes dating back to 2013, according to City News Service.
The performer was convicted of three counts of forcible rape, two counts of unlawful sexual intercourse with a minor, two counts of rape of an intoxication victim and one count of assault with intent to commit oral copulation by a Van Nuys jury on April 18.
Deputy District Attorney Cynthia Wallace said she believes Walker is “truly a predator” for his assaults on young women and teenagers between 2013 and 2018, according to City News Service.
Walker used Instagram and Twitter to find his victims — who were often aspiring models and actresses — and lure them to locations by saying he had booked them for photo shoots and music video productions that never happened.
Kaalan Walker, who was ordered to register as a lifetime sex offender for the crimes, used Instagram and Twitter to find his victims. (WireImage)
Instead the rapper raped as well as assaulted the women and underage girls, prosecutors said.
“When they said ‘Stop,’ he didn’t care,” Deputy District Attorney Yasmin Fardghassemi told the jury of Walker during the trial in March, the news service reported.
Walker’s attorney said he didn’t force the women and girls and that they were seeking revenge against his client for the false promises he made of music shoots and opportunities to meet his famous and well-connected friends.
Kaalan Walker (left) appears alongside Terayle Hill in the 2018 film “SuperFly.” IMDb
The lawyer, Andrew Flier, added that the rapper’s career has been ruined and that he has suffered “a living nightmare” due to the allegations he was later convicted of.
Walker — who also appeared in the 2017 film “Kings” starring Halle Berry and Daniel Craig — was arrested in September 2018 and released on bond. He was taken into custody again after he was found guilty.
Nigerian officials have called on the authorities in India to ensure the safety of Nigerian students in the country.
This followed fighting between Nigerian and Indian students at the GD Goenka University in the capital Delhi, sparked by a football match dispute last weekend.
Footage of the clash has been shared on Twitter.
The incident at the university’s Gurugram campus forced more than 80 Nigerians to flee and take refuge at the country’s embassy.
The chairwoman of the Nigerians in Diaspora Commission, Abike Dabiri-Erewa, said “a few injuries” had been recorded during the violence.
But Mrs Dabiri added that “calm” had been restored and that the Nigerian students have since returned to the campus after a meeting between officials of the two nations.
Nigerian students are being attacked in a University Campus near Delhi – 30,000 Nigerian students come to study in India paying money, 50,000 Indians live in Nigeria to make money. pic.twitter.com/K9u9Vn1PhM
In a tweet, the Nigerian representative also said the country’s embassy had got a “written commitment by the Indian authorities to protect” Nigerian students.
She also advised that any students who felt “threatened” should report to the diplomatic mission of Nigeria.
The Indian authorities said they are investigating the incident – including reviewing CCTV footage of the violence, according to local media.
Thousands of African students – many of them Nigerians – are studying at several Indian universities.
But there have often been tensions between the locals and Africans.
Local media report that last month some Indian students had protested against African students praying on a football pitch, insisting that they should instead do so inside their hostels.
In a Twitter post, they revealed that the funeral service will be a two-day event.
On Wednesday, October 19, the family is expected to hold a night of remembrance and a candlelight procession at Retro Citi in Victoria Island, Lagos.
The event, open to the general public, will begin at 4 pm.
“With a heavy heart, we invite all friends and fans of Rico Swavey to his tribute night/candlelight walk tomorrow as we witness a star supernova. Thank you all,” the tweet read.
On Thursday, October 20, Rico Swavey’s family will hold a private church and burial service.
Background
Rico was involved in a ghastly motor accident on Tuesday. The bad news was conveyed by his fellow Big Brother Naija season 3 ex-housemate, Alex Unusual.
Reality TV star, Rico Swavey at the hospital while still being treated
Alex made this known via her Twitter page. She explained thatRico Swavey was still being revived when she left the hospital.
She urged the public to remember Rico in their prayers because of his precarious situation.
Details of what caused the accident and where it happened are yet to be known. But a video of Rico’s car shows the extent of damage to the vehicle. The front of the vehicle was bashed in, and the windshield shattered.
Meanwhile, the authorities in Lagos say they are investigating the conduct of nurses at a private Nigerian hospital after videos emerged of them filming Ex-BBNaija star Rico Swavey who was brought in for emergency care.
In videos that were posted on social media, the nurses filmed Rico Swavey, whose real name was Patrick Fakoya, as he lay unconscious on a chair where he had been propped up.
With a heavy heart, we invite all friends and fans of Rico swavey to his tribute night/candle light walk tomorrow as we witness a star supernova. ☄️
The video of his final moments outraged many who said that the TV star had been neglected at the hospital.
Gbenga Omotosho, Lagos state commissioner of information, told the BBC that the hospital risked being shut down by the government after investigation has been concluded.
Rico Swavey became a reality TV star and ex-BBnaija housemate by default. Moreover, he ventured into the Nigerian movie industry, known as Nollywood.
Known for his role in the “Life 101” drama series, Rico, two years ago released a song titled” Afrosantana.”
He had a good music and movie career in his lifetime.
The Nigerian anti-drug agency has apologised to a man in the central state of Plateau after its operatives raided his home by mistake as they targeted a suspected drug dealer.
Armed operatives of the National Drug Law Enforcement Agency (NDLEA) arrested Alyasa’u Idris after breaking into his home in a predawn raid on Thursday.
But it turned out to be a wrong target.
Mr Idris, 42, said he initially thought his house was being attacked by kidnappers because kidnappings for ransom are rampant in the country. He then hid inside the ceiling but was pulled out by the officers who broke into the ceiling, he said.
The incident happened in the town of Yelwan-Shendam.
The officers interrogated the man after taking him away – but they then realised he was not the person they were looking for.
He said upon returning home after his release, he found his 500,000 Naira ($1,145; £1,010) was missing.
Mr Idris, a mattress seller, told the BBC that his entire family was traumatised by the experience and that all his four wives were taken to hospital because of the psychological impact.
A spokesperson for the anti-drug agency Femi Babafemi told the BBC that its officers had immediately apologised to the man after realising it was a case of mistaken identity.
Mr Babafemi said the victim should write a formal complaint to the agency for investigation on the claims of missing money and demand for compensation.
The Social Security and National Insurance Trust (SSNIT)is pushing for an amendment of the National Pensions Act, 2008 (Act 766) to compel employers to include the allowances of employees in the computation of their pensions.
The move is to enable workers to earn bigger pensions when they retire.
“Some employees earn huge allowances but never allow for it to be included in their basic salary on which their pension is calculated. At retirement, they complain about earning small pensions but they forget that while in service, they ring-fenced their allowances for their pensions to be calculated only based on their basic salaries which may be small,” he said.
Dr. Ofori-Tenkorangsaid the scheme had been structured in a manner that the bigger the income on which the pensions were calculated, the better for the contributor when he or she retires.
He said the fact that some retired workers are earning between GHC10,000 and GHC120,000 per month while others take as low as GHC300, which is the minimum, is a confirmation that the more the amount on which the pensions are calculated, the better for the employee.
Against this background, Dr. Ofori-Tenkorang said the amended Act would consolidate their earnings before their pensions are calculated and deductions made accordingly.
“As it stands now, workers’ pensions are calculated on the basic salary and not gross income which includes allowances,” he explained.
According to the Director-General, the amendment would also take into account the issue of penalty to make it obligatory for the employer to pay the prevailing interest rate when they delay in remitting to SSNIT pension deductions on behalf of their employees.
Legacy investments
The Director-General added that SSNIT is restructuring its non-performing investments to enable it to generate more returns to support the pension scheme.
Dr. Ofori-Tenkorang said many of the non-performing investments were inherited by his administration in 2014 .
Consequently, an investment team has been put in place to re-trigger SSNIT’s investment portfolios for further action.
Additionally, he said his outfit, would partner other investors in areas where SSNIT’s investments were underperforming.
“What we are doing is to restructure some of the underperforming investments, especially those legacy investments that we feel are not suitable for us to be majority shareholders; we are going to invite investors who are in that business to partner us.
“The restructuring is to make sure we get the necessary returns to support the pension scheme,” Dr Ofori-Tenkorang said.
As part of efforts to boost investments, Dr Tenkorang explained that a transaction advisor had been engaged and is currently working on procurement processes to have shares in hotels belonging to SSNIT disposed to strategic investors.
Electronic payment
Also at the function, SSNITintroduced an electronic payment system to allow employers and self-employed workers pay their SSNIT contributions with ease.
The payment platform, ssnitpay, went live on October 10, 2022.
Members can now pay SSNIT contributions using their Mobile Money Wallet via USSD short code, Mobile Money POS – walk-in and Debit Card via the Trust’s Web Portal – portal.ssnit.org.gh. The innovation forms part of new measures to enhance service delivery to members and clients of the Trust.
Dr. Ofori-Tenkorang, who introduced the system, noted that members need to dial *711*9# to access the Mobile Money payment platform.
The adoption of the e-payment platform is expected to bring relief and convenience to employers and members, who hitherto had to travel long distances to a SSNIT branch or a SSNIT partner bank to pay their contributions.
Dr. Ofori-Tenkorang said payment of contributions via ssnitpay is E-Levy exempt.
He encouraged the employers and self-employed workers to use the Mobile Money channels to pay their contributions.
“The Trust has also enhanced its self-service portal. The portal now allows members and clients to perform a number of activities including viewing and downloading clearance certificates and requesting negotiation meetings for outstanding debts, among others.
He encouraged employers to pay the right contributions for their workers by consolidating the earnings of their workers for enhanced pensions. This will motivate them to go the extra mile in the discharge of their duties.
“We advise you to pay SSNIT contributions on or before the 14th day of the ensuing month. We also urge you as employers to pay contributions for yourselves because you also deserve a pension,” he stressed.
According to him, contrary to some people’s assumptions, he was not humbled by the experience. The Shatta Movement President explained that the inmates did not treat him any differently from how his fans have always done.
Speaking on TV3’s Showbiz 360, he stated that the inmates were eager to see him and some went as far as serving him.
“When I went to jail, I actually felt like I was at home. Because people have been in there for 30 years, and they’ve never seen Shatta Wale.So, as they saw me, they fetched water for me. Some brought me food (mostly from their visitors). Just like the way people see me on the streets and kneel down, it was the same way in the jailhouse,” he revealed.
He added that “it wasn’t like they took me there to suffer, it was like a vacation. It was like a vacation. It didn’t really humble me.”
Shatta Wale was arrested and remanded for seven days following a hoax shooting incident he instigated after one Bishop Stephen Akwasi prophesied that the singer would die the same way South African Reggae legend Lucky Dube passed.
He was later convicted by an Accra High Court after he pleaded guilty to the publication of false news.
The Court presided over by His Worship Emmanuel Essandoh delivered a non-custodial sentence and fined the musician an amount of GH¢2,000.
Qatarwill soon be competing in their first-ever World Cup, but that does not mean the hosts will settle for the title of honourary participants. Al Annabi have been preparing themselves for this moment ever since their successful bid back in 2010.
Indeed, current head coach Felix Sanchez began his Qatari journey back in 2006 when he joined Aspire Academy, a renowned sporting institution that has produced some of the most country’s most successful first-team players.
Spaniard Sanchez then followed the academy graduates on their journey, coaching them first in the Qatar youth teams and then the Olympic squad before finally taking over the senior side in 2017. This group of players is considered to be one of Al Annabi’s strongest ever.
Sanchez has so far won two titles with Qatar, the first coming in the 2014 AFC U-19 Championship and then with the first team in the 2019 AFC Asian Cup. Can he replicate such achievements on the greatest stage this winter with this group of Qatari stars? Only time will tell.
SAAD AL SHEEB
Position: Goalkeeper
Age: 32
Saad Al Sheeb has long since dreamed of donning the number 1 shirt for Qatar at a home World Cup. In his interview with Al-Jazeera back in 2019, he said: “At present, my only dream is to represent Qatar at the 2022 World Cup.”
The Al Sadd SC goal-stopper has been a mainstay of Qatar’s national team since his debut back in 2009. Al Sheeb was vital in Al Sadd’s back-to-back title triumphs in the Qatar Stars League over the past two seasons and on top of that, the player has earned more than 75 international caps. The keeper has also featured in major international tournaments such as the Asian Cup, Copa America, and the Concacaf Gold Cup.
Awarded the honour of Best Goalkeeper at the 2019 Asian Cup, he only conceded one goal throughout that tournament thanks to his quick reaction time and ability to snuff out counterattacks. He will no doubt play a pivotal role at Qatar 2022, and stern tests surely lie ahead, as he is tasked with nullifying the likes of Sadio Mane, Memphis Depay, and Frenkie de Jong.
Al Sheeb still has to earn his place in the starting lineup though, considering the brilliant displays by Meshaal Barsham at the 2021 Arab Cup.
ABDELKARIM HASSAN
Position: Left-back
Age: 28
“The Gunner” and “the Flamethrower” are just two of the nicknames for Hassan – the third most-capped international player for Qatar with 120 games to his name. Hassan has been the first choice left back for Al Annabi for many a year and his influence is unparalleled.
The current Al Sadd SC star had a brief stint in Belgium several years ago and is expected to be one of the most influential players for Qatar this winter. He is blessed with speed, gifted technical and dribbling ability, and a rocket of a shot, epitomised by his thundering goal against Yemen in the 2019 Gulf Cup.
Abdul Karim Hassan’s influence will be substantial given his wealth of international experience in major tournaments. It will come as no surprise if he is one of the standout performers for the hosts.
With Al Sadd’s coach tweaking their formation last season to play three at the back as well as the emergence of the brilliant young Hammam Al Amin at left-back, some thought Hassan’s demise was imminent. Quite the opposite. He has successfully adapted to the new position and offers Felix Sanchez a newfound versatility and flexibility at the back.
HASSAN AL-HAYDOS
Position: Forward
Age: 31
Playmaker Al Haydos, who can also drop into central midfield and on the right wing, was one of Qatar’s star performers during their 2019 Asian Cup triumph and has matured at Al Sadd under the tutelage of Jafal Rashed Al Kuwari. He will no doubt be one of the shining lights for Al Annabi this winter due to his unquestionable technical ability.
His personality on the pitch has shone consistently throughout his career. Whether it be his late winning goal against Japan in the 2008 Olympic qualifiers, or his famous penalty shootout heroics for his club against Jeonbuk Hyundai Motors in 2011, he has shown character in abundance.
With 158 games under his belt, Al Haydos is the all-time most-capped Qatari international. It can be argued that he is among the most influential players in the team, having contributed to a total of 38 goals during his time with Al Annabi. Despite not having quite replicated his blistering goalscoring form at Al Sadd from 2018 and 2019, he has compensated with increased defensive output and now drops deeper to help out. This has been particularly evident in the last two seasons as Al Sadd have adopted a new system of three at the back.
Al Haydos was called up to the international scene some 14 years ago, making him the most experienced player in the squad. This experience will be priceless when faced with the formidable defences of the Netherlands, Senegal, and Ecuador.
AKRAM AFIF
Position: Forward Age: 25
Just like his father, Afif is a versatile player who plays on both the left and right-wing, as well as sometimes even spearheading the attack. Afif also has wide-ranging experience playing in Europe after his stint with Belgium’s OH Leuven, and several Spanish teams. He currently turns out for Al Sadd, where he has stamped his influence on the league. Despite a slight dip in form since April, he was still voted best player in the Qatar Stars League.
Afif finished the 2019-20 season with 15 goals, making him the top scorer in the QSL. As well as his goalscoring prowess, he has both the technical ability and vision to create numerous chances. He has a long pass in his locker that can split defences and he often lifts balls into dangerous areas, not to mention making regular efforts on goal.
All this attacking talent has Al Annabi fans dreaming of a strong World Cup campaign. Afif has also been shortlisted as AFC best player three times, winning the coveted award in 2019. Since then, he has been a vital cog for Al Annabi and is indispensable, even after his recent dip in form, and featured in all Qatar’s latest friendlies.
ALMOEZ ALI
Position: Striker
Age: 25
The current Al-Duhail SC star was Al Annabi’s top scorer in both the 2021 Gold Cup and the 2019 Asian Cup, registering nine goals and four goals respectively. He is the only player in the world who has scored in three different continental championships, and is currently Qatar’s third-highest all-time goal scorer, having registered 39 goals to date – close on the heels of all-time top scorer Mansour Muftah, who has 44 goals to his name.
This winter, Qatari fans will be heavily relying on outstanding individual performances from him as well as his ability to cash in on half-chances to help their team’s bid to qualify for the Round of 16.
Although his last goal for Qatar came towards the end of 2021, Ali can convert an opportunity in the blink of an eye thanks to his quick feet and intelligence of movement inside the penalty area. All these skills were on show in the 2019 Asian Cup final, when he scored with a stunning scissor kick. In his last major international tournament, the Concacaf Gold Cup, where Qatar reached the semifinal, Ali took home the golden boot.
Domestically, he proves his goalscoring worth at Al Duhail SC season after season. During the last campaign, Ali recorded his second-best goal tally relative to the number of matches played. Underestimate this marksman at your peril.
The 4-tier interchange project, to be constructed in two phases within 30-months, will include five overpasses at Krofrom, Abrepo, Anomanye and Magazine New Road as well as Abusuakruwa Junctions.
It will also result in the widening of sections of the Kumasi ring road and the Offinso road into 3-lane dual carriage way whilst additional 15 kilometer stretch of local roads would be developed.
The project has suffered several setbacks after it appeared in the national budget thrice.
Nonetheless, residents of Kumasi especially, those in Suame can now heave a sigh of relief as President Akufo-Addo, has been joined by the Roads and Highways Minister, Akwasi Amoako Atta, Minister of Parliamentary Affairs and Majority Leader who doubles as Member of Parliament for Suame, ministers of state and traditional leaders to break ground for the project.
The Municipal Chief Executive for the area, Maxwell Ofosu Boakye tells JoyNews that the project has come as a relief to him and the people he represents.
“The wait is over; the much anticipated interchange is here and I am elated as MCE. I am very, very happy,” he said.
“The entire region has been anticipating and waiting for this project for about 3-years now.
It featured in our budget for three consecutive times and the good thing is that this project has a period of 30-months to complete, and it’s a project that has it’s source of funding and everything intact,” he said.
He is convinced the project will not suffer delays since all the necessary arrangements have been made for its smooth running.
According to him, the contractor has no excuse to delay the project.
“It isn’t that we are now going to source for funding. The funding is sitting in an account in Ghana as I speak. So, the contractor has no reason to delay.”
The Member of Parliament for the Tarkwa Nsuem constituency, George Mireku Duker, has sued the Dompim-Pepesa chief, Nana Nyowah Panyin IV, for defamation after claims the MP was involved in illegal mining.
Also cited in the October 14 lawsuit are the Multimedia Group and the Class Media Group.
The comments the MP deems defamatory were made on Joy FM and Accra FM.
Mr. Mireku Duker, who is also the Deputy Minister of Lands and Natural Resources, wants the persons he has sued to retract and apologise for their role in spreading the claims.
In addition, he wants GH¢10 million as well as aggravated damages from the publication of the allegations by the two media companies.
Nana Nyowah Panyin IV also cited the Western Regional Minister, Kwabena Okyere Darko-Mensah, when making his claims about illegal mining activity in the Western Region.
“The words complained off are absolutely false, products of the defendants’ imagination and were mischievously designed by the defendant to disparage him, stain his reputation, court public disaffection for him and to bring him into abhorrence in the eyes of right-thinking members of the public and the global community,” Mr. Mireku Duker’s lawsuit said.
The MP maintains that his reputation has been “violently damaged” and his chances of winning the next election have suffered.
He also said the two stations did not give him a chance to respond to the allegations.
Since the lawsuit was filed, Joy News has published an apology to Mr. Mireku Duker and Mr. Darko-Mensah.
Concerned Drivers Association of Ghana has warned its drivers could increase fares without a consensus with the government if negotiations do not go as planned.
“If we are not able to do what is needed for the drivers, the drivers themselves will take the law into their own hands and charge [whichever prices they want],” Public Relations Officer for the Concerned Drivers Association of Ghana, David Agboado, said to Citi News.
Ahead of a meeting with the government over transport fare increments, Mr. Agboado, said their expectations were in line with the up to 40 percent increment proposed by the Ghana Private Road Transport Union.
The concern over fares comes after the increase in fuel prices.
Petrol has started selling at around GH¢13.10 while diesel is selling at GH¢15.99 at some fuel pumps.
The last transport fare increases were in May 2020
Transport fares went up by 20 percent in May where fares were increased by 20 percent.
As of May 9, 2022, when the new fares took effect, petrol and diesel were selling at a national average of GH¢9.41 and GH¢11.12, respectively.
This dismisses the argument that inflation in the country is due to external factors such as the Russian/Ukraine crisis which has pushed prices of some foodstuffs, particularly wheat and cereals up
In a press conference at the recent IMF/World Bank Spring Meetings, African Director at the Fund, Abebe Selassie, said its analysis show that inflation is driven more by domestic factors than exogenous factors
“On inflation, I mean, again, there are always trade-offs when you’re doing, policy calibration, and so in our regional economic outlook, we are very careful to flag that there are some countries where inflation has clearly been driven more by domestic factors than exogenous factors. I think Ghana would fall in that camp.”
“But there are also quite a lot of other countries where the inflation we are seeing is more imported inflation, so the scope and the space and the ability of monetary policy to address that is limited. So again, it depends on country-specific circumstances, and on time”.
Mr. Abebe also said the calibration of monetary policy must be always agile.
This is because the conditions that affect inflation are always changing, adding, “exchange rates are moving, commodity prices are moving, so it’s an area where, calibration must be very, looked at again and again and again, as the months proceed. That’s why, Central Bank can say you have to be forward-looking, data-driven, so our advice is also, very much, subject to those considerations”.
Inflation surges to 37.2% in September 2022
Inflation in Ghana shot by 3.3% to 37.2% in September 2022.
According to the GSS, five groups recorded inflation rates higher than the national average in September.
They were Housing, Water, Electricity, Gas and Other fuels (68.8%); Furnishings, Household Equipment and Routine Household Maintenance (51.1%); Transport (48.6%); Personal Care, Social Protection and Miscellaneous Goods and Services (42.6%) as well as Food and Non-Alcoholic Beverages (37.8%).
The Ghana Statistical Service(GSS) has revealed that in 50 out of the 261 Metropolitan, Municipal and Districts in Ghana, more than half of the household population is multidimensionally poor.
The district with the highest poverty rate in Ghana is the Nkwanta North District in the Oti Region with 79.7%, a rate more than twice the national figure of 29.9%.
North East Gonja in Savannah (77.7%) and Sekyere Afram Plains in Ashanti (75.3%) join Nkwanta North are the only districts with more than three-quarters of the household population living in poverty.
Three of the districts in the top 10 with the highest poverty rates are in the Northern Region, with North East and Oti regions having two districts each.
Nanumba North (114,226) and Gusheigu (103,852) municipalities, in the Northern Region are the only districts with over 100,000 persons living in multidimensionally poor households.
Four out of the 10 districts with the largest population living in poverty are in the Northern Region, two are in Oti, with Savannah, North East, Western and Volta having one each.
New Juaben South Municipal in the Eastern Region has the lowest poverty rate in the country (4.8%) and is one of the 21 districts with a multidimensional poverty rate of less than 10%. Six out of the 10 districts with the lowest poverty rates are in Greater Accra.
These statistics are highlights from the Multidimensional Poverty District League Table released by the Statistical Service for the International Day for the Eradication of Poverty which is being commemorated this year under the theme “Dignity for All in Practice”.
According to the aggrieved traders, their decision to halt commercial activities is based on the exorbitant tax rates and the continuous depreciation of the local currency against the US dollar.
This, the traders say is adversely affecting their businesses and depleting their capital and profit margins.
A visit by JoyNews’ Bernice Abu-Baidoo Lansah to the Central Business District on Tuesday morning confirmed that some of the traders have already closed down their shops.
They had red scarves on their locks indicating their displeasure about the prevailing economic crisis.
The traders noted that if the situation remains the same, they will be forced to run out of business, therefore, the need to protest to draw the attention of government to their plight.
“As retailers, when we come for supplies, we the women don’t get any profits. All the profits have been swallowed by the increments. Some of us are also operating on loans with very high interests rate and therefore we are really not making any profits.
Everything looks distorted in Ghana. The current regime promised to make things better, but now we the women in particular are really suffering”, one of the traders lamented.
The action by the traders in Accra follows an earlier closure by their counterparts in Kumasi, who also closed down their shops over similar concerns.
Commenting on the earlier action in Kumasi, the President of the Association, Dr Joseph Obeng expressed his reservations about the prevailing tax regime in the country, and how the situation is bringing businesses to their knees.
“You have a system that does not ensure fairness, you have a system that does not ensure equity, you have a system that runs trade concurrently in the same market that we have the standard rate that one pays 90.25 per cent and then we have a VAT rate of four per cent and then we have those who do not pay the VAT at all and they are all legitimate. What system is this?”, he questioned the Ghana Revenue Authority.
The ongoing protest comes at a time when there is public outcry about the state of affairs in the country, and the failure of government to address the growing economic decline.
The current economic decline is reflected in the depreciation of the Cedi as well as government’s fiscal deficits and the nation’s ballooning debt stock.
But in a recent interview on Monday, the President said there is no basis to sack the Yale-trained Minister.
Meanwhile, government is still in talks with the International Monetary Fund (IMF) to find appropriate solutions to address the economic difficulties in the country.
President Akufo-Addo has yet again been subjected to public jeering owing to the dire economic situation Ghanaians are facing.
On Monday, October 17, the President who took to the streets of Adum in Kumasi to inspect the Phase II of the Kejetia/Central Market Project as part of his four-day tour of the Ashanti Region was met with a hostile crowd.
Unlike the usual cheers and waving of approval, residents of the area known to be the stronghold for the ruling New Patriotic Party (NPP) were not pleased seeing their president.
In a viral video sighted by The Independent Ghana, a group of market women, hawkers and artisans, were seen voicing their displeasure as the President’s convoy made its way through the market.
The economic downturn and its attendant increasing hardships appear to have eroded all of that love.
This is the second time the President has been booed in public. During the Global Citizens Festival, the youth who gathered at the concert jeered at him.
Social media users joined the discussion on whether or not booing President Akufo-Addo is was justified.
Where are the NPP Propagandists??
I hear boos of shame, etc
Is this also instigated?
Who continues to advise this failed govt to maintain the sickening motorcade in this chaotic environment of inflation, high petrol prices, IMF, depreciating Cedi
Meanwhile, the President has commissioned a 20-unit residential facility for justices of the Appeals Court in Kumasi.
The project, which comprises four bedrooms each, a swimming pool and recreational facilities, has been completed on schedule.
It is expected to ease the accommodation pressure of the justices and fast-track adjudication of cases at the Appeals Court in Kumasi.
This means justices of the court, who commute from Accra to Kumasi, can be accommodated in Kumasi to help reduce the cost and time to promote justice delivery.
Ahead of the commissioning, Project Manager of FeDems Limited, consultants for the project, Benjamin Fosuhene Asante, told JoyNewsthe facilities are tailor-made for the justices.
About three weeks ago (September 24, 2022) President Akufo-Addo was treated to a similar unfriendly reception by youthful partygoers at the Global Citizen Festival in Accra.
During the festival, the president who had been introduced to tout the government’s initiatives in prioritising vital causes in line with the organisers’ mission for social justice, was interjected by the youthful revellers who simply wanted him ‘away’.
The facility would accommodate justices who usually commute from Accra to Kumasi to sit on cases
Some government communicators later described the development as the doing of the opposition National Democratic Congress while, a Deputy Tourism Minister called the jeers as cheers for the President.
Ecobank Ghana and GCB Bank maintained their position as the two biggest banks in Ghana in 2021, the 2022 PwC Ghana Banking Survey Report has revealed.
In terms of the banking industry market share (deposits), Ecobank Ghana and GCB Bank controlled 11.93% and 11.43% respectively, keeping its 1st and 2nd positions respectively.
The survey stressed that GCB and Ecobank Ghana have maintained their dominance regarding the industry’s deposits over the past six years. The two banks continue to hold more than a fifth of the deposits in the sector due to their combined branch network of over 250 branches, ongoing initiatives to advance digital and electronic banking, and a client-focused outlook.
However, during the previous three years, the market share of GCB and Ecobank Ghana have decreased from 25.5% in 2019 to 22.8% in 2020 and increased marginally to 23.6% in 2021. This could be attributable to the competition from the other banks.
Stanbic Bank consolidated its gain, firming its 3rd position with a market share of 9.29%. It gained a marginal growth in deposits in 2021.
It was followed by Absa (6.80%) and Fidelity Bank (6.79%) in 4th and 5th positions respectively. The two banks also gained some market share.
Importantly, Absa overtook Consolidated Bank Ghana in 4th place and increased its market share by 0.46%, increasing its deposits by 20.2% in 2021.
In 6th, 7th, 8th, 9th and 10th positions were Consolidated Bank Ghana (6.78%), Standard Chartered Bank (6.27%), Zenith Bank (5.26%), CalBank (5.18%) and Access Bank (4.27%).
Overall, the top 10 market share leaders in deposits include Fidelity Bank, Stanchart, Zenith, CalBank, Acess Bank and ADB.
UBA also rose to the 12th position in 2021 from the 15th position which, the survey said is a commendable improvement from the previous year. All the banks in the top 10 gained market share except Zenith and Consolidated Bank Ghana
The report concluded that the observed increase in total deposits was influenced by the Covid-19 fiscal stimulus, payments to contractors, SDI depositors, and clients of Securities and Exchange Commission -licensed fund managers, as well as increased savings by people and businesses as a result of the pandemic-caused slowdown in consumer and investment spending in some sectors.
The shift from fossil fuels to clean renewable energy as the corner stone to the global energy transition has been at the tip of governments’ policy discussions across Africa and the world, with developed countries investing massively in renewable energy as part of efforts by their respective government’s energy security and climate action goals (ESI Africa, 2021).
Gielen D. and Boshell F. (2021), observe that while climate change mitigation remain a powerful driver behind the shift away from fossil fuel-based power generation, another factor influencing the shift is the fact that, renewable power has become the cheapest form of electricity generation and the costs continue to fall thanks to improvements in technology and economies of scale. No wonder the International Energy Agency(IEA), found that the share of renewable energy sources (including hydropower) within the global electricity generation mix has jumped to 28 percent of the power mix in 2021, up from 27 percent in 2019.
Growth in renewables, according to the U.S. Bureau of Labor Statistics (BLS), presents many direct and indirect sustainable economic benefits (with less or no negative effects on the environment) through job creation, reduced energy cost, stable energy prices, energy independence, and avoidance of climate impact et cetera. The International Renewable Energy Agency (IRENA) estimates the expected increase in human welfare from the deployment of renewables as close to 4 percent, far exceeding the 0.8 percent rate of improvement in gross domestic product (GDP). The agency suggest, savings from reduced health and environmental externalities, which are not fully reflected in conventional economic accounting systems, far offset the costs of the energy transition.
Africa missing in the Game
The World Economic Forum (WEF) estimates that by 2050, Africa will have roughly 2 billion inhabitants, and two in five of the world’s children will be born on the continent.
However, the continent which is home to the world’s youngest population, is still energy poor. According to data captured in the IEA Africa Energy Outlook 2022, some 600 million people in Sub-Saharan Africa still don’t have access to electricity, when in global terms only 768 million people lack access to electricity. Again, the data shows that today 970 million Africans lack access to clean cooking. Liquefied petroleum gas (LPG) remain the leading solution to urban population, but recent price spikes are making the commodity unaffordable for 30 million people across the continent, forcing many to revert to traditional use of biomass. This makes the need for clean energy for both consumption and production more crucial; for purposes of socio-economic and human development.
The World Bank (2018), argue that lack of access to energy represents a fundamental barrier to progress, and has impacts on a wide range of development indicators, including health, education, food security, gender equality, livelihoods, and poverty reduction. Renewable energy has therefore been found to play a critical role in closing Africa’s energy gap, which remain a massive obstacle to advancing development continent-wide. IRENA’s paper “Scaling up Renewable Energy Deployment in Africa” shows that Africa has the potential to install 310 gigawatts (GW) of clean renewable power— or half the continent’s total electricity generation capacity, to meet nearly a quarter of its energy needs by 2030.
In another paper Renewable Energy Market Analysis: Africa and its Regions, IRENA and the AfDB (Africa Development Bank) estimate the continent’s solar PV technical potential at 7,900 GW, additional hydropower potential at 1,753 GW, and wind energy at 461 GW; suggesting that the continent possesses a respectable renewable energy potential.
Ironically, a recent paper titled The Renewable Energy Transition in Africa, jointly prepared by Germany’s KfW Development Bank, Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), and the International Renewable Energy Agency (IRENA), reports that most inhabitants of sub-Saharan Africa face severe energy poverty, with less than half of the population found to have access to electricity in 2018.
The paper found that in 2018, only 20 percent of the electricity generated in Africa came from renewable sources, a very low investment figure compared with the rest of the world. Further the paper notes that even though in 2019 two-thirds of all newly added energy capacity for supplying electricity worldwide was based on renewable sources, only a mere 2 percent of this new generating capacity was in Africa; confirming IRENA’s report that only 2 percent of global investments in renewable energy in the last two decades were made in Africa, with significant regional disparities.
This is a continent that has vast resource potential in wind, solar, hydro, and geothermal energy, with Central and Southern Africa holding abundant mineral resources (IRENA 2022) essential to the production of electric batteries, wind turbines, and other low-carbon technologies. Furthermore, IEA (2022) finds that Africa is home to 60 percent of the best solar resources globally, yet only 1 percent of installed solar PV capacity. Also, the continent possesses vast resources of minerals that are critical for multiple clean energy technologies. The continent accounts for over 40 percent of global reserves of cobalt, manganese and platinum; and other key minerals such as lithium, graphite, and copper; critical for batteries and hydrogen technologies.
In spite of the immense benefits of renewable energy to the continent, coupled with the resource potential of the African continent, IRENA (2022) finds that the factors that would help accelerate green energy deployment in Africa have not yet been realized, because of exiting obstacles.
Africa’s Obstacles
In IRENA’s estimation, Africa will requires an annual investment of US$70 billion in renewable energy projects until 2030 to effectively transition from fossil fuels to clean energy. But it must not be lost on us that countries within the African continent are largely low-income economies whose capacities are not yet up to the task of funding this emerging form of energy in large-scale. Aside investment and policy related challenges, several economic, institutional, technical and socio-cultural barriers hinders countries from moving from the high to the low emission pathway (Seetharaman et al. 2019; Adeniran and Onyekwena 2020).
The African Development Bank Group asserts that the private sector is key to mobilizing green energy investment and sustainable development in Africa, and that climate change presents a US$3 trillion investment opportunity in Africa by 2030, of which 75 percent of the investment is expected to come from the private sector to complement public sector financing. However, there are few hurdles to surmount if the private sector would inject that level of funding expected of it.
The first hurdle, is the willingness of the private sector to maintain its commitments in accelerating climate related investments in particularly an emerging economy like Africa. Fruman (2016), argues that the willingness would require an enhancement of cooperation between governments and the private sector; to help build trust, close knowledge gaps, spur action, generate a sense of combined ownership of agreed-upon actions, and promote collaboration. Moreover, it is widely acknowledged that developing countries like Africa face obstacles from the policy and regulatory point. To make the Africa market accessible to the private sector investor, policy clarity, enhanced regulation, and a transparent implementation strategies that establishes Africa’s energy transition roadmap is indeed necessary. Additionally, IRENA (2022) finds that investors’ willingness to commit capital to the renewable energy sector is driven by the perceived risk/return profile of investments, combined with risk mitigation— given that the sector face multiple barriers such as front-loaded cost structure of renewable energy projects, project proponents’ often limited knowledge and experience, and the lack of reliable investment data, particularly in developing countries.
Aside private sector investors’ willingness to inject capital in climate related technologies, it is well documented that the regional power pools across the African continent are faced with insufficient investment in infrastructure and network grids designed to accommodate conventional energy sources, resulting in high electricity losses and low supply quality, among other issues (Medillina et al. 2019). Germany’s KfW Development Bank, GIZ & IRENA joint paper The Renewable Energy Transition in Africa, found inadequate grid infrastructures as another barrier to introducing and up-scaling inexpensive variable renewable energy, such as solar and wind. Improving the planning, operation and maintenance of electricity grids is of paramount importance for any form of energy transition and grid stabilization, the report noted. This according to the report, needs to be combined with significant investments in the modernization and expansion of distribution and transmission infrastructure, as well as energy storage and other technology and market solutions that improve system flexibility, reduce greenhouse gas emissions, strengthen national and regional power systems, and reduce technical and commercial losses.
Additionally, there are some African governments and industry players’ unwillingness to change as quickly as required, or introduce incentives to support clean renewables, which often slow the progress we need to see in the energy space (Okafor J. 2020). This is so because the global effort to accelerate the clean energy transition risks dwindling export revenue for Africa’s oil and gas.
McKinsey’s 2022 analysis on ‘The future of African oil and gas: Positioning for energy transition’ found that most African countries are highly exposed to the global energy transition, as their economies depend on oil and gas exports for more than 50 percent of their total export revenues.
The resentment from industry players and government in emerging economies such as Africa is that abandoning their oil and gas resources for clean renewable energy would affect badly their macroeconomic and socio-economic progress. As such Africa wants that space to exploit their fossil resources, earn revenue from exports of same, and ultimately deploy the revenue into infrastructure and services that raise living standards today, while transitioning to renewables and a lower-carbon future.
The 2022 PwC Ghana Banking Survey Report has revealed that 86 % of bank executives confirmed discussing Environmental, Social and Governance (ESG) matters more than once a year.
Beyond having board discussions, 62% of bank executives confirmed the existence of an approved plan to adopt and integrate ESG in the business operations.
Insights from the survey showed a clear-cut interest in embracing ESG strategies by banks, both at the board and senior management levels.
PwC said “we view the general willingness to have ESG strategies as partly due to the collaborative effort between the Bank of Ghana, Environmental Protection Agency (EPA) and the Ghana Association of Bankers (GAB) in drafting the Sustainable Banking Principles & Sector Guidance Notes. It is noteworthy that there seems to be a general willingness for the banks to embrace ESG principles into their operations”.
ESG Motivation
When asked about what motivated the banks in assenting to the Ghana Sustainable Banking Principles Commitment and Endorsement Statement, half of the surveyed banks expect adherence to these guidelines would enhance reputation and relationships with stakeholders and create long term value.
These motivating factors are based on the understanding that several investors presently prioritise ESG information in their investment decisions, much more than in the past.
Obviously, banks were motivated beyond regulatory compliance for ESG, the survey explained.
ESG Implementation
The report said despite the significant attention drawn to ESG, industry players suggest that incorporation of the related principles into the culture of the banks is still low.
63% of the respondents believe that the concept of ESG is in the incipient stages in the banking industry with most banks assessing their implementation needs and putting the necessary structures in place for full integration.
The survey revealed that the banks are, however, optimistic and willing to incorporate ESG factors into their practices with support from the regulator.
Also, 48% of the respondents propose that – for them – regulatory leadership and initiative are the main drivers of the implementation of ESG.
ESG & Risk Management
Insights from the survey reveal the industry’s understanding of how ESG issues impact banks’ lending decisions.
71% of the respondents recognise ESG as an integral part of the credit decisions made during the credit management process and, as such, the respective report and information are obtained as part of the credit analysis process.
Way forward
The report said industry players, international partners and regulators alike admit that there is still more to be done in capacity building, monitoring and implementation in sustainable banking practices. This was confirmed, as only 48% of banks had more than 50% of their management team trained on ESG-related issues in banking with many banks yet to have a comprehensive strategy and implementation plan in place beyond the current regulatory requirements.
The report said there is therefore the need for ESG consultants and other stakeholders with expertise to assist banks to improve on ESG strategy formulation and implementation, risk management, and disclosure and reporting.
In conclusion, PwC said ESG principles and practices may be largely new to the Ghanaian banking sector but same cannot be said of the benefits and opportunities thereof ranging from low cost of funds, improved risk management practices leading to lower non-performing loans and impairment to better internal and supply chain ESG adherence leading to not only investor acceptance but also the acceptability of other stakeholders such as customers and the larger society in which these banks operate.
It therefore shared the excitement expressed by the banking industry in these opportunities and look forward to more collaboration among the stakeholders for the exploitation and realisation of the associated benefits.
21 banks out of the registered 23 universal banks were surveyed.
President Akufo-Addo says the decision to go to the International Monetary Fund (IMF) for a bailout was one of the most difficult choices he had to make to save the economy.
He cited the rising cost of crude oil on the international market as one of the factors that compounded the country’s economic woes, and one of the reasons government ran to the IMF for support.
Despite being a tough choice to make, Akufo-Addo says it was in the interest of the country and the economy to go to the Fund.
“You can imagine the difficulties that there were for the Bank of Ghana. So instead of now finding 64 dollars for each barrel of oil, the Bank of Ghana was now having to find 100 plus [dollars] and it stayed like that. In fact, it is only very recently that the price of crude oil has come down.
“I am just using this one very important fact to tell you what drove the government to this very difficult decision of going to the IMF. I don’t have any difficulty in admitting that it was a difficult decision for me to take but I felt that in the interest of the country, in the interest of our economy, we had to make that decision,” he said in an interview on Kumasi-based OTEC FM.
Amid a free-falling cedi, a rising cost of living, and skyrocketing fuel prices, the government is at the doors of the International Monetary Fund (IMF) to prevent a full-blown economic turmoil.
Meanwhile, the Minority on Parliament’s Finance Committee has cast doubts over government’s chances of closing a deal with the IMF by end of year.
Finance Minister Ken Ofori Atta had indicated that government was working hard to get a deal by November this year.
But speaking to Joy Business’ George Wiafe in Washington DC at the just ended Annual IMF/World Bank meeting, Ranking Member on the Committee, Dr Ato Forson said Ghana can only secure a deal with the IMF by the first quarter of 2023.
According to the aggrieved traders, their decision to halt commercial activities is based on the exorbitant tax rates and the continuous depreciation of the local currency against the US dollar.
This, the traders say is adversely affecting their businesses and depleting their capital and profit margins.
A visit by JoyNews’ Bernice Abu-Baidoo Lansah to the Central Business District on Tuesday morning confirmed that some of the traders have already closed down their shops.
They had red scarves on their locks indicating their displeasure about the prevailing economic crisis.
The traders noted that if the situation remains the same, they will be forced to run out of business, therefore, the need to protest to draw the attention of government to their plight.
“As retailers, when we come for supplies, we the women don’t get any profits. All the profits have been swallowed by the increments. Some of us are also operating on loans with very high interests rate and therefore we are really not making any profits.
Everything looks distorted in Ghana. The current regime promised to make things better, but now we the women in particular are really suffering”, one of the traders lamented.
The action by the traders in Accra follows an earlier closure by their counterparts in Kumasi, who also closed down their shops over similar concerns.
Commenting on the earlier action in Kumasi, the President of the Association, Dr Joseph Obeng expressed his reservations about the prevailing tax regime in the country, and how the situation is bringing businesses to their knees.
“You have a system that does not ensure fairness, you have a system that does not ensure equity, you have a system that runs trade concurrently in the same market that we have the standard rate that one pays 90.25 per cent and then we have a VAT rate of four per cent and then we have those who do not pay the VAT at all and they are all legitimate. What system is this?”, he questioned the Ghana Revenue Authority.
The ongoing protest comes at a time when there is public outcry about the state of affairs in the country, and the failure of government to address the growing economic decline.
The current economic decline is reflected in the depreciation of the Cedi as well as government’s fiscal deficits and the nation’s ballooning debt stock.
These circumstances have heightened calls for the Finance Minister, Ken Ofori Atta to be sacked.
But in a recent interview on Monday, the President said there is no basis to sack the Yale-trained Minister.
Meanwhile, government is still in talks with the International Monetary Fund (IMF) to find appropriate solutions to address the economic difficulties in the country.
According to him, the IMF would rather look at the 2023 budget, which will be presented in November 2022 to finalise a programme with Ghana.
He urged government to rather focus on using the budget to rebuild investor confidence on toning down on borrowing, while sending signals of debt restructuring to the IMF.
This, Professor Mensah argued will give government some space to negotiate with the IMF from a strong position.
“I don’t think it is possible to get a deal with the IMF before the middle of November when we get ready to present the 2023 budget. My advice will be that we should rather use the budget to position the government for an IMF programme”, he stated.
He explained that the government and the IMF have a lot of processes and fine-tuning to do before signing an economic bailout deal.
He cautioned that the IMF will not just enter into a deal because a country is economically desperate for assistance.
“If you study the IMF carefully, they always want your debt stock to be at sustainable levels before they give you assistance. If your debt levels are bad, the IMF will ask you to do something about it before assisting the country”.
Citing Ghana’s debt levels as worrying, he stated that it is not surprising that the IMF is urging the government to restructure its debt as first requirement as part of the negotiations.
Providing some recommendations, Prof. Mensah advised that it will be prudent for government to come out and engage relevant stakeholders in the domestic financial sector to calm the market.
Such a move, he stressed will not only stabilise the domestic bonds market, but will bring some level of certainty among investors who are currently in the dark on the next move of government.
He warned that keeping investors in the unknown only sparks speculations which aggravate the economic challenges of the country.
He partly blamed the situation on the high inflation and the cedi depreciation, which he warns may get worse.
The Institute for Energy Security (IES) is warning of a shortage of widespread petroleum products across the country in no matter of time.
According to the energy think tank, the free fall of the cedi, which is causing a scarcity of dollars and the erosion of some working capital of the Bulk OilDistribution Companies are the reasons that will trigger the shortage.
Executive Director of IES, Nana Amoasi VII told Joy Business on October 18, 2022 that Ghanaians should be worried about this development.
“There is something to be much worried about and that’s the likelihood of the shortage of the commodity on the market on the back of a reported shortage of dollars for the Bulk Oil Distribution Companies, the importers and the erosion of working capital of some of these importers. The price of crude oil remains high and the cedi value continues to decline”.
“We first raised these concerns in March this year and in the following month there were reports of the pocket of shortages of fuel across the country”, he explained.
Nana Amoasi VII
Furthermore, Nana Amoasi VII disclosed that if the authorities fail to plan well, any incident of fuel shortage will be widespread.
“This time around any incident of shortage may be widespread if we fail to plan against it. It is more serious”.
He added that the BDCs and importers struggle to bring refined crude oil.
Fuel prices have been going up since Monday, October 17, 2022.
Petrol per litre is going for ¢13.10, from the previous price of ¢11.10, representing about a 16% increase.
On the other hand, diesel per litre has shot up to about ¢15.99, from the previous price of ¢13.90. This is about a 12% surge.
Director of Research at the Institute of Economic Affairs (IEA), Dr John Kwakye, has called on government to devise strategic measures to stop the continuous depreciation of the local currency.
His comment comes after the cedi was adjudged by Bloomberg the world’s worst-performing currency against the US Dollar.
Bloomberg reported that the cedi lost about 45.1% to the US dollar this year to sell at GH¢11.2625 per dollar.
This makes the cedi’s depreciation the worst among 148 currencies tracked by Bloomberg, overtaking Sri Lanka’s rupee whose depreciation has been 44.7%.
Reacting to this in a tweet sighted by GhanaWeb, Dr John Kwakaye said, “Urgent interventions are needed to stop the haemorrhaging of the cedi.”
Meanwhile, Ghana is targeting an amount of $3 billion over a three-year period from the IMF once an agreement on a programme is reached.
The new amount requested as a loan is double the government’s initial target of $1.5 billion.
Urgent interventions are neede to stop the haemorrhaging of the cedi. #FixTheCediNow
Speaking at a media dialogue on Ghana’s negotiations with the IMF in Accra on Friday, Mr Terkper, according to myjoyonline.com, said if the government failed to exhibit transparency with the data, the country would not get the programme as expected on time, and that would hurt the economy more.
“What has dominated the discussions during the first round and going into the second round is a possible debt restructuring, refinancing or however you may call it. And, we will give some examples, and that is because we all know that debt is a problem that faces the nation. But I also want to remind us that debt is the outcome of raising revenue and borrowing beyond that revenue to the point we are in debt distress….there should be no question about that. And therefore, we have also faced downgrades.”
He mentioned that a typical IMF programme would start from revenue, expenditure, and management of arrears “to give us the fiscal balance and go all the way to the fiscal and go into debt – where we are facing the difficulty.”
He said, “Everything shows clearly that we are protecting certain expenditures as seems to be what is coming from some government officials, then the Fund [programme] is a non-starter. Because it means that you are saying that the Fund gives you money to continue with the pattern of your behaviour. You should know that the Fund knows it all; if you read Article 4, they follow our debates, they know what is going on, they have an office here,” Mr. Terkper said.
He further pointed out that a fast programme from the IMF would depend on whether the country could provide all the available data for scrutiny and approval.
“So I think whether we can do a fast programme or not depends on whether we can lay it all on the table. It can be shocking, but we need to lay all on the table,” he added.
Seth Terkper also dismissed the perception that the rating agency have been harsh to developing countries, saying the developed countries have not been left out of the equation, citing the United Kingdom as an example.
On the Interbank forex rates from the Bank of Ghanaon, October 18, 2022, the Ghana Cedi is trading against the dollar at a buying price of 10.8655 and a selling price of 10.8763.
As compared to Monday’s trading of a buying price of 10.7115 and a selling price of 10.7223. At a forex bureau in Accra, the dollar is being bought at a rate of 12.38 and sold at a rate of 12.65.
Against the Pound Sterling, the Cedi is trading at a buying price of 12.3769 and a selling price of 12.3903 as compared to Monday’s trading at a buying price of 11.9916 and a selling price of 12.0057.
At a forex bureau in Accra, the pound sterling is being bought at a rate of 13.30 and sold at a rate of 13.70.
The Euro is trading at a buying price of 10.6909 and a selling price of 10.7007 as compared to Monday’s trading at a buying price of 10.4265 and a selling price of 10.4370.
At a forex bureau in Accra, Euro is being bought at a rate of 11.55 and sold at a rate of 11.85.
The South African Rand is trading at a buying price of 0.6035 and a selling price of 0.6040 compared to Monday’s trading at a buying price of 0.5851 and a selling price of 0.5857.
At a forex bureau in Accra, South African Rand is being bought at a rate of 0.45 and sold at a rate of 0.80.
The Nigerian Naira is trading at a buying price of 40.5017 and a selling price of 40.5670 as compared to Monday’s trading at a buying price of 41.1033 and a selling price of 41.1248.
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 16.50.
After building anticipation for the release of the Gift of God’ album for years, Shatta Walepledged to finally release the body of work on October 17 to mark his 38th birthday.
The leader of the Shatta Movementduring a performance at the SummerStage Festival in Crotona Park, New York City, on August 13 made this promise during a performance to his ‘international’ fans.
Announcing the release date of the album that has taken him 3 years to produce, he said: “I have this album that I have been creating for three years and everybody has been talking about it and asking ‘when are you gonna drop the album?’
“Today you guys are the special people with my press release date. On the 17th of October, I am gonna release the Gift of God Album and you guys are so special, you guys are the first. I have not told anybody and I know the press is gonna take it. I love you guys, you guys are looking like angels. Clap for yourselves.”
Contrary to his words, Shatta failed to fulfil his promise which would have consequently satisfied the desire of fans who have been waiting on his album for years.
Although it was a ‘no show’ on October 17, Shatta Wale blessed music lovers with a single off the GOG album titled ‘Cash Out’.
The new single received positive feedback from the local industry. This was however not without some criticism as some cited him for ‘sounding like Burna Boy’, ‘sampling Burna Boy’s ‘Last Last’, among others.
Meanwhile, Shatta had a time of his life as friends and loved ones organized a surprise birthday party for him in his newly acquired mansion in Accra. He was presented with a pimped Range Rover, which had his name boldly imprinted on it.
C Burn’s much-awaited release – ‘Far Away’, is out alongside an animated lyric video to sing along to. Though still yet to announce his next project, there has been no shortage of brilliant singles from the US-based rapper who unveiled two songs: ‘Only You’ and ‘Uncle Buzee’ about two months ago.
Today, he tops up with his third – ‘Far Away’, switching to themes of heartbreak on his much-awaited Afrobeat single.
In contrast to his previous releases, ‘Far Away’ features a less familiar C Burn – a more resentful version – who can’t help but express some hard feelings right from the song’s opening: “I no go waste time with you. You think say I mumu/You do me juju, now my eye dun clear”.
But that’s not to say the song is unpleasant in any way. It’s vibe-worthy! The cold feelings shared are relatable and wrapped up in the sweet, tender vocals of an anonymous vocalist.
In a statement about his new song, C Burn shared: “As you listen to the song or watch its lyric video, I want you to let go and let your imagination run wild. Think of a scene, a time, and a place in your life when you finally decided to let go of something or someone that was holding you back in life. Happiness is free, always remember that!”.
‘Far Away’ is proof that C Burn will continue releasing tasteful music. Enjoy!
Some industry giants including Bulldog, Baba Sadiq, Andy Dosty, were present at Kwabena Kwabena’sbirthday party held on October 17, 2022.
It was seemingly a fun-packed atmosphere as these patrons were seen treating themselves to some good music, drinks and lively conversations.
Bottles of champagnes were popped and emptied on the ‘Tuamudaa’ hitmaker to mark his birthday.
Some individuals also took turns to narrate how the musician has impacted their lives and the impact he has had on the general music industry.
In the case of Akwaboah Jnr, he projected the musician as his mentor.
“Kwabena happens to be someone I look up to and I am actually not shy about it. I cannot rug shoulders with him. I have been his keyboardist before on several stages. Kwabena is a good singer, and guitarist. I know how he composes his songs.
“He is a prolific writer, great vocalist. Today is Kwabena’s birthday and we are all privileged to be here. Thank you for serving Ghana,” Akwaboah eulogized.
Kwabena Kwabena also spoke about his upcoming album.
Shatta Wale was on Monday surprised with a massive birthday present, a pimped Range Rover modified to suit his taste at his newly opened glass house located in the heart of Ghana’s capital.
Fans of the Ghanaian Dancehall musician on October 17 went all out to celebrate their superstar on the occasion of his birthday.
It was a double celebration as Shatta had announced that he was going to release his much anticipated ‘Gift Of God’ album. Although that never happened, he blessed music lovers with a single ‘Cash Out’ off his album.
The party of the famous musician was graced by close friends including rapper Medikal and other big names in the industry who were captured in videos spraying cash on the celebrant.
Also present at Shatta’s glass house were invited members of the Shatta Movement, his die-hard fans.
The highlight of the night was the red Range Rover that was presented to the ‘On God’ singer as a surprise gift.
Check out the video captured by blogger Ronnieiseverywhere:
Mugeez of R2Beesfame has made an honest confession about DJ Azonto’s hit single “Fa No Fom” describing it as his favourite song in Ghana right now.
DJ Azonto’s groundbreaking single continues to make waves across the country with music lovers jamming to the tune.
Last night at the just-ended Tidal Rave, DJ Azonto gave patrons a feel of the “Fa No Fom” energy, which got most celebrities on their feet dancing to the song.
Mugeezin a social media post couldn’t hide his admiration for DJ Azonto’s new hit saying: “Allah Woiyo! Allah Woiyo! Woiyo! Woiyo!, my favourite track be that.”
Other top personalities who have shown interest in the “Fa No Fom” wave include Nana Ama McBrown, Kwadwo Nkansah Lil Win, Mr Drew, to mention but few
DJ Azonto has been in the news in recent weeks after flaunting his expensive cars on social media and also after his dazzling display on various musical shows in the capital.
Dj Azonto has also been billed to perform at this year’s Ghana DJ Awards
Singer and actor Adomaa has indicated her readiness to release a second 2022 single.
‘Circus’ is the second single to herald the star entertainment figure’s extended play (EP) called ‘Becoming Adomaa’.
The song advertised for release on Wednesday, 19 October 2022, comes after her piece ‘In the Clouds’.
The lead character in the popular ‘Dede’ television series, Adomaa, today, Monday, 17 October 2022, tweeted: “[Clown face and music notes emojis] Welcome to the Circus [clown face and music notes emojis]. Will it be fun and exhilarating? Or will it be a nightmare waiting to happen?” to prompt fans and attached a snippet of the song in a video.
Welcome to the Circus
Will it be fun and exhilarating? Or will it be a nightmare waiting to happen?
My POV
‘Circus,’ the 2nd single from my upcoming EP #BecomingAdomaa
Gospel musician, Nicholas Omane Acheampong, has disclosed that Evangelist Mama Pat, formerly known as Nana Agradaa, is paying for peddling lies about him.
In a zionfelix.net report, the ‘Tabitha Kum’ artiste mentioned that Evangelist Mama Pat destroyed his reputation when she alleged that she and Nicholas Omane Acheampongused to visit the same fetish priest.
“She went around spreading rumours that she and I go to the same fetish priest in Benin for powers to sing and work.
“But this was never true and she made this public to ruin my reputation to the extent that everywhere I went people questioned me,” he said.
According to the gospel artiste, Nana Agradaais going through this ordeal because of the many people she has offended.
“She has accused a lot of people wrongly and she never apologised. Now, she claims to be an evangelist but things do not work that way. She is suffering the effects on her life now and the worst is yet to come,” he added.
The ‘Tabitha Kum’ artiste’s statement comes after the Ghana Police Service on Sunday, October 13, 2022, arrested the former fetish priestess now turned evangelist after some church members claimed that she had scammed them after an all-night service.
She has since been dragged to court and has been granted a GH 50,000 bail condition.
You might’ve heard Shatta Wale hit back at critics after he was left out of the Global Citizenevent in Accra few weeks ago.
Well, he has finally disclosed that he didn’t really feel bad about the snub.
Shatta Wale spent time on Showbiz A-Z on Joy FM last Saturday, and among the many things he touched on, was his feelings about his non-involvement in the Global Citizen Festival.
“I didn’t feel bad at all, it’s just that I felt everybody in the country really slept on Shatta Wale, including the President”, he stressed.
Considered an A-list artiste, Shatta Wale was disappointed that President Akufo-Addo who made an appearance on the night, didn’t seek to find out, prior to the event, whether or not he was billed to perform. A grand platform with a top ranking artiste as himself would have been beneficial to the Ghanaian entertainment industry in the long run, he reckons.
The disappointment also stems from his association with the President, one which he describes as a father-and-son relationship. “The President is my [man]. He knows all the problems [in the entertainment industry]. I’m even tired of explaining things to them”, Shatta Wale revealed, with belief that his addition to the line-up would’ve been a boost.
He likened himself to a precious material. “It’s like an investor arriving in Ghana and presenting us with an opportunity to advertise our raw materials. Then we present to him bauxite, cocoa, and all the other raw materials, and leave out gold (him). That’s how I feel”, Shatta Wale bemoaned.
Dancehall act,Shatta Wale dreams of the second coming of the ‘fourth John’. He is advocating for Ex-President Mahama to be voted into power once again.
He shared this thought on Showbiz A-Z last Saturday on Joy FM. Shatta Wale told George Quaye, “We have to give Mahama one more chance”.
The Dancehall heavyweight defended his reason. “When Mahama was in power, he was doing everything for every youth to survive. I was getting opportunities from the presidency”, he elaborated.
The ‘Mahama Paper’ hit-maker revealed that many other music artistes including Hiplife group VIP, were involved with the previous government in its projects that impacted society positively. “I was doing a back-to-school project… and I spoke to one of them in the [previous government], and before I realized, they were supporting the project”, Shatta Wale underscored.
Critics might argue that Shatta’s opinion is biased, however, he maintains that even if the Akufo-Addo-led government has engaged present-day artistes, the aftermath of those interventions have not made the news. He believes that the creative arts industry stands a better chance with Ex-President Mahama in power.
Shatta Wale also took the opportunity to talk about his long-awaited ‘Gift of God’ album. The yet-to-be-released body of work which has been promoted for the last three years had its cover art released last week. It was followed by the release of its first single titled ‘Cash Out’ few hours to his birthday. According to Shatta, “when [the album comes], everyone should embrace it”.
The artiste, known outside music circles as Nana Yaw Boakye, is the next to take his turn on E Vibes as he takes fans on a reflection of his journey to stardom.
MOG Music, is a Ghanaian contemporary gospel singer, songwriter, and pastor.
Speaking in the yet-to-be-aired interview on E Vibes, MOG revealed that he wanted to be a footballer and explains how he found himself doing music.
MOG Music released his first album, “New Wine,” in 2016, which got him nominations for “Album of the Year” and “Discovery of the Year” at the African Gospel Music Awards. He released the single “Making it Big,” which featured Sarkodie.
Ohemaa Mercy, Joe Mettle, Denzel Prempeh, Jekalyn Carr, Danny Nettey, Nii Okai, and Ron Kenoly are the gospel musicians with whom he has worked.
At the 2020 VGMAs, he was named producer of the year.
MOG will tell his story on E vibes on JoyNews on October 22, 2022, at 8:30 am, on October 23 at 10:30 am, and 4:30 pm on Joy Prime.
South Africa’s President Cyril Ramaphosa has withdrawn controversial perks for cabinet ministers and their deputies that saw their homes supplied with free electricity and water.
The benefits caused a public outcry as they were considered insensitive at a time South Africans are struggling with daily power cuts and rising cost of living.
In a press briefing on Monday evening, a spokesman said the president “acknowledges and appreciates the public sentiments on the matter”.
The ministerial handbook, which outlines ministerial benefits, will be “aligned to the realities that many South Africans face”, presidential spokesman Vincent Magwenya said.
He said the intention behind the perks was “not a nefarious one”.
“The intention was to try and find some form of balance between what ministers could afford versus some of the costs that they have,” he is quoted as saying the by the state news agency.
TikTok star, Felicia Osei has denied rumours of an amorous relationship with Ogidi Brown, remarking that the musician is her ‘gee’ on the social media app, a street term for a friend.
The two showbiz personalities have in the past flaunted each other and shared a couple of videos of themselves having good moments together. On top of that, they released a song titled ‘Yobo Love’, fanning to flame the suspicion.
Reports were rife Felicia Osei had announced she was getting married to the CEO of Ogidi Brown Music triggering anticipations as many showed interest in their supposed affair.
But in an interview on The Delay Show aired on October 16, 2022, Felicia Osei said “Ogidi Brown was my gee. He wasn’t my boyfriend; we were only doing comedy.”
Felicia mentioned that she has a boyfriend while noting that she is not a side chick.
“He stays in Kumasi,” Felicia disclosed the location of her boyfriend. “All the rumours [being promiscuous] are untrue.”
Meanwhile, Felicia has said her father absconded when she was six and never returned. Her father, Mr. Frimpong, according to the narrative, escaped when the wife was asleep.
“Growing up, I saw my father in the house. The last time I saw him was when I was about 6 years old. He said he was going to buy something,” Felicia Osei recalled. “We had always gone with him but that day, he said he would go alone. He locked the door, said goodbye and didn’t return. That was it. He run away and left us and I’ve never set eyes on him again.”
According to her, together with her two siblings, they decided after the incident to use their mother’s surname ‘Osei’ instead of their father’s ‘Frimpong’.
She, however, hopes to meet her father who has been calling her ever since she became famous.
The National Petroleum Authority (NPA) is concerned about the continuous fall of the cedi and its impact on the price build-up of petroleum prices.
It says the high exchange rate is mainly affecting the prices of fuel at the international market as well as the cost of importation or production of same thus resulting in increases in the cost of petroleum products.
The price of fuelhas recently increased to almost GH¢16 per litre with players in the industry warning that a litre of the product could be sold at almost GH¢20 by the end of 2022.
“The cedi is a major problem. The most volatile items in there in determining the ex-pump prices are the exchange rate and the world market price. We are really exposed to the exchange rate, which has continuously depreciated”, said Abass Tasunti, Head of Economic Regulation at NPA.
The cost of diesel is currently pegged at GH¢15.99 at a top oil marketing company, Total Energies, while the cost of gasoline is GH¢13.10.
This represents a significant increase over the GH¢11.06 per litre for gasoline and GH¢13.95 for diesel earlier in the month.
Speaking on The Point of View on Citi TV, Abass Tasunti said an ‘intervention is necessary to check the cedi to dollar exchange rate.
“The rate also affects the supply of the product because if the cedi is not available and the BDCs bring the product, they will not be able to pay the suppliers, and we will have challenges. Availability of the dollar is key. So the Bank of Ghana needs to do something about the forex so the BDCs are able to get the dollar at a preferential rate to help in stabilizing the ex-pump price”, he added.
The country’s rapidly rising fuel prices, which began in January at roughly GH¢6.5 per litre, have mostly been linked to the increase in the price of fuel on the international market.
Crude oilwas selling for about $75 per barrel in January of this year, but it is now selling for roughly $86 per barrel.
On the other side, the dollar, which cost GH¢6.5 at the beginning of the year, is now worth about GH¢12.
President Akufo-Addo has indicated that he should be blamed for the current economic difficulties that Ghanaians are going through.
According to him, even though as the President the buck stops with him, the COVID-19 pandemic as well as the Russia-Ukraine war cannot be left out of the contributory factors to the economic headwinds.
During an interview with Kumasi-based OTEC FM as part of his four-day tour of the Ashanti Region, the President admitted there are hardships and explained that the country’s micro-economy continues to be challenged.
“I am the leader and I take responsibility,” President Akufo-Addo said.
Akufo-Addo was, however, optimistic that the economy will recover before he finishes his term “I hope the IMF support is concluded in the middle of November so we can feed it into our budget,” adding, “my hope is to take Ghana out of IMF before I finish my term.”
Ghana currently has a delegation in the United States led by Ken Ofori-Atta to conclude the IMF negotiations.
The Finance Minister led the Ghanaian delegation to the G7 meeting with African Finance Ministers but stated that will be staying after the meeting to conclude negotiations with the International Monetary Fund, IMF, before coming back to Ghana.
“We still are working through and as you know, we are staying beyond the Fund, the World Bank meetings through, maybe the 20th, so we will continue with the Mission and the work. We pray that that may give us enough time to be able to come to some fair decisions on the outlook.
“I can tell you that the Fund staff is very motivated, which is good and we are 24/7, so the combination of their own enthusiasm and our clarity on the work that has been done to fulfil the President’s promise.
“If you look at the turnout of discussions for this annual meeting clearly, the world is recognizing that something different has to be done,” Ken Ofori-Atta said as quoted by Accra-based 3news.
Hearts of Oak assistant coach David Ocloo has stated that the Phobians have good players but the entire squad needs to change their mentality.
The MTN FA Cup holders beat ASR Bamako 1-0 on Sunday at the Accra Sports Stadium but that wasn’t enough to help them progress to the next round of the Caf Confederations Cup.
Assistant coach David Ocloo reacting to complaints about Hearts lacking quality players rejected the claims.
“We have quality players we just need a mentality change the boys are good we just have to psych them. I did that changes because I need to attack more, see the way Inkoom and Rashid was attacking. But it is unfortunate that we could not play the ball more at the width there but that was what triggered that change because I want more attacking people,” he said on Peace FM as monitored by footballghana.com
“We played the 4-3-3 system initially, two wing strikers but the winger strikers were not getting close to Afriyie, the double number 10 we also played were also static that was what made Afriyie to be isolated there. To get Obeng closer to him and when Obeng got closer to him he was able to move and get the ball a lot,”
President Nana Addo Dankwa Akufo-Addo has clarified why Ken Ofori-Atta, the Finance Minister is still at post despite numerous calls for his dismissal from his government over abysmal performance.
According to him, Ken Ofori-Atta after the ruling party was sworn into office in 2017, was able to ensure that the economy which was on the verge of collapse grew at an average of 7 per cent.
He said he cannot turn his back on someone who was able to achieve that feat for the country.
He noted that he is keeping Ofori-Atta in office because his performance for the past six years has been excellent.
“I came to office in 2017 when we were under an IMF programme. This same Ken Ofori-Atta was able to manage the economy for the first 3 to 4 years. We were then one of the fastest-growing economies in the world. We had an average growth rate of 7% a year.
“For someone who has been able to do all these, how do I turn my back on him? For me, his performance has been excellent. That is why I have great difficulty in understanding what is going on,” President Nana Addo Dankwa Akufo-Addo said while speaking on Kumasi-based OTEC FM, Monday, October 17.
The calls for Ken Ofori-Atta’s dismissal intensified when Kwasi Kwarteng, his counterpart in the UK was dismissed by the Prime Minister following a fallout from the country’s mini-budget he [Kwarteng] presented.
One such individual who is of the view that the minister is relieved from his duties is Samuel Okudzeto Ablakwa, North Tongu MP.
To him, just as Kwasi Kwarteng has been dismissed by the Prime Minister Liz Truss as the UK Finance Minister, Ken Ofori-Atta should also go.
In a tweet, Ablakwa said, “Kwasi Kwarteng hasn’t done a fraction of the damage has caused the Ghanaian economy but he gets to be sacked and Ken is showered with praises from his family member, President Akufo-Addo as Ghanaians languish in more pain. Sad — no justice in the world.”
Media company, Media General and one of its broadcasters, Godsbrain Smart, could face a lawsuit from the government over claims President Akufo-Addo is involved in illegal mining.
The government in a statement said the claims made by Mr. Smart, popularly known as Captain Smart, in a published video, will be referred to the National Media Commission.
“It is, however, imperative to note that the aforementioned action is without prejudice to government’s right to seek legal action against Mr. Smart, Onua TV and Media General,” the statement noted.
The government accused Mr. Smart of “unethical and irresponsible” journalism, adding that “the video is intended to court disaffection for government and undermine efforts to fight illegal mining in the country.”
The government said it was concerned about the spread of disinformation and misinformation, “clothed under the pretext of journalistic discretion and free expression.”
It further held that the claims were baseless and “impugns the character and integrity of the President, and the credibility and commitment of his fight against illegal and irresponsible mining.”
Though the government has been criticised for paying lip service to the fight against illegal mining, it maintains that its commitment is “unwavering.”
The Volta River Authority (VRA) has commissioned two modern mammogram machines for its hospitals to improve and expand access to breast screening services.
One of the machines has been installed at VRA Hospital in Akosombo with the other at its hospital in Accra.
The power generator procured the machines which cost GH¢3.6 million at the request of the VRA Ladies Association.
Each machine can serve the needs of about a million women in the catchment area in a year, according to health experts.
At a ceremony at the Akosombo Hospital last Wednesday to symbolically commission both machines, the Chief Executive Officer (CEO) of the VRA, Emmanuel Antwi-Darkwa, said the procurement was in line with the authority’s priority on the health of female workers of VRA and to also encourage the VRA Ladies Association to continue to positively influence society and bring the needed change to the communities.
Mr Antwi-Darkwa lauded and congratulated the VRA Ladies Association on the initiative, which would justifiably save the lives of many women in general.
He said random clinical trials and other studies showed that using the mammogram to screen women would ensure early detection and by extension early treatment, which would reduce fatalities, adding “it is sad to lose women due to treatable conditions such as breast cancer’’.
The ceremony, which attracted women from other organisations from the Asuogyaman District, and the traditional rulers from the Akwamu Traditional area, was on the theme “Early detection of breast cancer saves lives, get screened with mammogram’’.
The Eastern Regional Director of Health Services, Dr Winnifred Ofosu; the Chairperson of the VRA Board, Joyce Rosalind Aryee; the Director of VRA Hospitals, Dr Omari Yeboah, among other directors of VRA, graced the occasion.
Superstition
The CEO cautioned women to clear their minds of any anxiety or fear which kept them away from the authority’s annual breast screening exercise.
He said it was unfortunate that some people were so heavily driven by superstition that they attributed medical conditions such as breast cancer to spiritual attacks and, therefore, did not seek medical help.
“Let this not be the lot of our VRA women. We need all hands on deck to educate our daughters, wives, sisters and female friends to take advantage of the facility to know their status,” Mr Antwi-Darkwa emphasised.
The National President of the VRA Ladies Association, Stella Mawushi Dey, on behalf of the association, expressed profound gratitude to the management of VRA for heeding the call to save women from such a dreadful disease.
Access to mammogram
She said the association over the years had expressed grave concern about great challenges they went through in accessing mammogram services.
Ms Dey said their continuous call for the machine led them to launch a fund-raising campaign during the association’s 20th anniversary to purchase at least a mammogram machine, which the authority wholeheartedly paid for without the association making any financial commitments towards it.
The Medical Superintendent of the VRA Hospital, Dr Charles Arhinful, said the authority had, since 2016, collaborated with Koforidua Central Hospital and the Okomfo Anokye Teaching Hospital in Kumasi in managing breast cancer cases at a huge cost to both the hospital and the patients.
He said with the acquisition of the mammogram machine for the hospital, patients who patronised the facility would no longer travel long distances for basic mammogram tests.
The Chief of Akosombo, Nana Boafo Ansah Prem IV, who chaired the programme, appealed to the clergy to allow women in their churches who suffered from breast cancer disease to go for the tests instead of seizing them for only prayers.
The Chamber of Petroleum Consumers Ghana (COPEC) has asked the Bank of Ghana and the Economic Management Team to take immediate steps to halt the fast decline of the Cedi against the US Dollar to stabilise fuel prices.
The Chamber attributed the continuous hikes in fuel prices to the “free fall” of the Cedi and cautioned that fuel prices could hit “uncontrollable” levels in future if the local currency was not stabilised.
In an interview with the Ghana News Agency, Mr Duncan Amoah, Executive Secretary of COPEC, said fuel prices could hit GHS20 per litre by the end of the year if the rate of depreciation of the Cedi was not halted immediately.
“Bank of Ghana should find some immediate solution to halt the Cedi’s steep depreciation. Whatever policy intervention that our Economic Management Team would need to put in place immediately to find a way to stabilise the cedi should be done,” he said.
“Availability of dollar, if not addressed in the coming days, we could also be hitting a fuel shortage situation as well,” Mr Amoah added.
Some oil marketing companies on Monday morning, October 17, 2022, adjusted their prices upwards, selling petrol and diesel for GHS 13.10 and GHS15.99 per litre respectively.
The adjustments represent more than 10 per cent increment from the last pricing window, which closed on Saturday, October 15, 2022, with diesel and petrol then selling at an average GHS11.05 and GHS 13.98 respectively.
Ahead of the current pricing window, which opened on Sunday, October 16, 2022, COPEC and the Institute for Energy Security (IES) projected an increase in fuel prices, citing the increases in price of petroleum products on the international market, and the “significant decline” in the value of the local currency against the dollar as the catalyst.
Whereas COPEC projected an increment of about 10 per cent for both petrol and diesel, the IES estimated that prices would go up by about 7 and 12 per cent for petrol and diesel respectively.
“Between the current window and the next window due, crude oil price is observed to have seen an increase of 3.66 per cent from $89.46 to $92.73 per Barrel, whilst the Dollar index has further gone up by about 4.08 per cent from GHS10.21 to GHS10.627 per Dollar as per Government rate (Conservative figures) though actual market rates are quite higher currently,” COPEC said in a statement.
In its review of the last pricing window, the IES said the Cedi depreciated by 2.5 per cent from the previous rate of GHS10.53 to the current rate of GHS10.89, to the US Dollar.
“In IES’ estimation, consumers of Gasoline and Gasoil may pay between 7 and 12 per cent more for a litre at the pump in the next two weeks, with Gasoil per litre price hinging close to GHS15,” it said.
The BoG recently embarked on a joint operation with the Police, which led to the arrest of 76 individuals and entities who allegedly engaged in the buying and selling of foreign currencies without license.
The move formed part of the Bank’s strategy to sanitise the foreign exchange market and ensure compliance with the country’s foreign exchange regulations.
President Akufo-Addo has proclaimed that he is unperturbed by threats of electoral consequences by some supporters of the New Patriotic Party, NPP.
He is of the view that not everyone will vote for a particular candidate in an election and that voters can also not be forced to make choices in a democratic dispensation hence there was no need to threaten a government with votes.
Akufo-Addo was responding to concerns raised by people in Manso and Kwabre, who according to an OTEC FM journalist had threatened to vote out the NPP in 2024 if their roads are not fixed.
The journalist was hosting the President in an exclusive interview as part of his official visit to the Ashanti Region where he inspected and launched a number of projects.
“The people of Kwabre and Manso, we know they voted massively for Nana, they have asked me to inform the president that if their roads are not fixed, they will be pained and in 2024, they will vote against the NPP,” the journalist said after the Roads Minister Kwasi Amoako-Attah had responded to a question.
The president quickly weighed in with a response: “No problem, no problem.” He continued: “I am saying people make those kinds of threats, me, they don’t frighten me. Somebody votes for you, somebody supports you, it is because they want you to do things for them, so I understand that.
“There is no need for people to say if I do not do it, this or that. That is your own problem. Of course, I will fulfil my promises.
“But if it so happens that you decide to vote for the NDC, that is your problem, that is not mine. Nobody will hold your hand to thumbprint for any candidate, the most important thing is that I understand the responsibility and we will deal with it,” he stressed.
Eleven persons who were picked for rioting over ticketing and revenue at the Shukura Lorry Station have appeared before an Accra Circuit Court.
They are: Emmanuel Gyan, 21-year-old unemployed, Seidu Bashiru, 25-year-old trader, Osman Ayariga, 28, Wadudu Awudu, a 32-year-old driver, Haruna Seidu, 31-year-old Porter and Issahaku Sulemana, 26-year-old driver’s mate.
The rest are Hakibu Shaibu, Adams Yusif Haruna, aka Baba, Oly Rahman, David Mayah and Shaban Shaibu.
They have been variously charged with conspiracy to commit crime to wit rioting, rioting and riots and prohibition of activities of land guards.
The accused persons have pleaded not guilty.
The court presided over by Mrs Patricia Amponsah has admitted the accused persons to bail in the sum of GHS50,000 with three sureties one to be justified.
The matter has been adjourned to November 1.
The facts as narrated by Maxwell Oppong are that in September 2022, there was power struggle between the members and executives of the Ghana Private Road Transport (GPRTU), Shukura Branch.
The prosecution said the struggle was in respect of “who controls the ticketing and revenue, ” at the station.
It said the struggle degenerated into protracted conflict between members and executive and the police on several occasions had to intervene.
“The Regional Executives of the GPRTU have also pleaded with the Police to have the matter resolved amicably but the two-groups refused to embrace peace,” the prosecution said.
It said on October 7, at about 5:30am, the Accra Regional Police Command had a distress call indicating that some men armed with guns and cutlasses were attacking people at Shukura Lorry Station.
The prosecution said the Police moved to the scene and six of the accused persons were chased by the Police.
It said among the six persons Gyan, Bashiru, and Ayariga were arrested for wielding cutlasses, but the rest escaped.
The prosecution said Awudu, Seidu and Sulemana, who escaped, returned to the crime scene to continue with their actions.
It said the Police team also came back to the scene and Awudu, Seidu and Sulemana were arrested with four cutlasses and a knife.
The prosecution said Shaibu, Haruna, aka Baba, Rahman, Mayah and Shaibu who were members of the rivalry groups who were seen rioting at the stations were also arrested.
It said many people got injured during the riots.
It said six out of the 11 accused persons said they were allegedly hired by one Abass Mohammed, a secretary of the union.
The prosecution said the said Abass Mohammed was, however, at large.
