TIG Post

Author: Chris Kodo

  • 428 public officers under investigation – CHRAJ reveals

    The Commission on Human Rights and Administrative Justice (CHRAJ) is currently investigating 428 public office holders for various violations.

    This was revealed at a public forum on “Declaration of Assets by Public Office Holders and the Fight Against Corruption in Ghana,” organized by the Media Foundation for West Africa (MFWA) on Tuesday in Accra.

    Giving a breakdown of the figure, Director, Anti-Corruption at CHRAJ, Mr Stephen Azantilow, noted that 284 of the cases were brought to the attention of the Commission in August this year.

    Director, Anti-Corruption at CHRAJ, Mr Stephen Azantilow, noted that officials who failed to disclose their assets in 2020 were also under scrutiny.

    The laws of the state frown on public office holders not declaring their assets before assuming office.

    Article 286 (1) of the 1992 Constitution categorically states that: “a person who holds a public office mentioned in clause (5) of this Article shall submit to the Auditor- General a written declaration of all property or assets owned by or liabilities owed by him, whether directly or indirectly, (a) within three months after the coming into force of this Constitution or before taking office, as the case may be, (b) at the end of every four years; and (b) at the end of his term of office.”

    This law applies to the President, Vice-President, the Speaker of Parliament, Deputy Speakers of Parliament, members of Parliament, ministers and deputy ministers of state, ambassadors, the Chief Justice, Judges of the Superior Court, Judges of the Inferior Court, and managers of public institutions in which the state has an interest and submits to the Auditor-General written declarations of all property or assets owned by or liabilities owed by them, whether directly or indirectly.

    The Constitution also requires the declaration to be done before the public officer takes office.

    However, Section 1(4)(c) of the Public Office Holders (Declaration of Assets and Disqualification) Act directs public office holders to meet this requirement “not later than six months after taking office, at the end of every four years, and not later than six months at the end of his or her term.”

    In spite of these regulations, most public officers have not declared their assets before assuming office or within the stipulated period for asset declaration.

    CHRAJ has indicated its readiness to combat this by bringing culprits to book.

    Explaining why CHRAJ has been unable to keep this under check, he said “we sometimes also feel helpless because when you have a law that does not critically tell you that look if somebody doesn’t declare before he assumes office, or he leaves office or every four years, you should give or mete out sanctions A, B, C and D, it becomes problematic.”

    The Commission is therefore pushing for the passing of the Code of Conduct Officers Bill.

    “And that is why when the new bill, that is the Code of Conduct Officers Bill came before us we made a lot of input and even the current bill as it is, pending before Cabinet, our proposals for the type of sanctions that should be meted out to public officers depending on the stage in which the person failed to declare their asset has been captured.

    “We are hoping that the law will come into force so that we know exactly what to do,” he said.

    Source: The Independent Ghana

  • Arsenal striker Eddie Nketiah relishes European nights after netting in fourth-straight Europa League start

    Ghana target Eddie Nketiah says he is relishing the European nights after scoring in his fourth-straight Europa League start in Thursday night’s 3-0 win against Bodo/Glimt.

    Nketiah followed up his winner against FC Zurich in their first group game by breaking the deadlock with an instinctive finish to set the Gunners on their way to victory, and maintain their 100 per cent start to the competition.

    The 23-year-old lasted for 82 minutes before being replaced by Reiss Nelson at the Emirates stadium.

    “It’s good to get some minutes and good to get on the scoresheet. It just kind of came quick, so I was just alert. I knew KT was kinda shooting so I was just alive on my feet and obviously adjusted well to finish,” Nketiah said as quoted by club’s website.

    “Obviously, if I start the last four games, I’ve got more of a chance of scoring so it’s been nice to test myself against different European teams, and I’ve done well so far so hopefully I can continue that. I’ve got much more to give.”

    Source: Footballghana

  • Ghana’s public debt stock hits GH¢402.4, 68% of GDP in July 2022 – BoG

    As of July 2022, Ghana’s public debt totaled GH 402.4 billion, or 68% of the nation’s GDP.

    The debt stock, which was 392.1 billion in March 2022, fell to 388.1 billion in April 2022 before slightly increasing to 389.2 billion in May 2022 and 393.4 billion in June 2022.

    The country’s debt, however, decreased somewhat in dollar terms from $54.4 billion in June 2022 to $53.2 billion in July 2022, according to the Central Bank.

    The Bank of Ghana’s October 2022 Summary of Economic and Financial Data included this information.

    The data showed that Ghana did not borrow fresh funds from the global market in recent times.

    The external debt remained unchanged at $28 billion, equivalent to 35.8% of GDP.

    However, the domestic debt increased from ¢190.1 billion in June 2022 to ¢190.3 billion in July 2022.

    The domestic debt stood at ¢181.9 billion in January 2022, went up to ¢185.4 billion in February 2022, and ¢190.1 billion in March 2022. It subsequently shot up to ¢189.2 in April 2022 and ¢188.5 billion in May 2022.

    The increase in domestic debt can be attributed to the government’s excessive borrowing from the domestic market.

    Ghana’s debt will, however, see some increases due to the receipt of the $750 million Afrieximbank loan that came in August 2022.

  • E-Levy is slowing down Ghana’s digital agenda – Telecoms Chamber

    Chief Executive of the Ghana Chamber of Telecommunications, Ken Ashigbey, has revealed that the recently implemented Electronic Transaction Levy (E-Levy) is gradually becoming a threat to the government’s digitalization agenda.

    Mr Ashigbey said, as per data available to the Chamber, revenue generated from the levy, at a rate of 1.5%, is below the belt and is unable to substantially contribute to the growth of the digital agenda.

    Speaking at the Bank of Ghana’s Regulatory Sandbox Engagement Forum in Accra on Wednesday, October 5, 2022, he said, “if you look at the data, E-Levy currently, the way it is situated is slowing down [our] own digital agenda and possibly also having a negative impact on government’s own revenues.”

    The E-levy is one of the domestic initiatives implemented by the Akufo-Addo government to help raise more revenue to address the current economic difficulties.

    According to reports, because the levy was met with strong public opposition prior to its implementation, less than the projected revenue of GH600 million has been generated in a month.

    Mr Ashigbey has urged the public to help the government increase its ability to make money from the digital environment.

    “Let’s take advantage of this opportunity that has been given to us to find ways in which we can support the government with the challenges that abound. And also to help our people within this economy, we find ourselves”, he stated.

    The IMF and Ghana’s E-levy Earlier this month, while speaking with the press about the progress of the Ghana-IMF negotiations, Finance Minister Ken Ofori-Atta revealed that the E-levy will be reviewed by the government.

    “Such exercises form part of an ongoing drive to ensure we take significant steps forward in remedying long-standing challenges with domestic revenue mobilization, indiscipline, corruption and leakages,” he said.

    “Of course, heightened tax compliance and increased tax audit exercises will continue to be complemented by policy initiatives that allow us to tap into a wider pool of taxpayers in the years ahead.

    Therefore, we are looking at areas around the E-Levy to ensure its efficient implementation,” the Minister mentioned.

    Per information from the Finance Ministry, the government is raking in just 10 percent of the estimated amount from the E-levy.

    Source: The Independent Ghana

  • 2022 World Cup: Dr Tony Aubynn backs Ghana to bring the trophy back to Africa

    SuperSport viewers on DStv and GOtv will be counting down the days to the 2022 FIFA World Cup in Qatar, with the tournament set to run from 20 November to 18 December and provide the most thrilling distillation of ‘The Beautiful Game’.

    DStv and GOtv is the only true home of football in Africa, offering a range and depth of action that no other rival can match – it’s literally ‘Unbeatable Football’! If you’re going to spend your money on something, it may as well be on the best football in the world.

    The FIFA World Cup Trophy recently took a tour of several African countries in the build up to Qatar 2022, but Ghana Football Association (GFA) executive Tony Aubynn believes it will be returning to the continent in December… because Ghana will have won the tournament!

    “I dreamt we were presenting the World Cup trophy back home in Ghana,” Aubynn said in mid-September. “I say that with conviction that we would win.

    “In 2006, no one gave the Black Stars a chance, but we beat the number two in the World which was Czech Republic and reached the round of 16. In 2010, we were almost going to win until the unfortunate happened.”

    Aubynn is right to point out Ghana’s fine record at the World Cup. Aside from the 2014 tournament, when the Black Stars exited at the group stage, they have always made a major impression.

    At Germany 2006, they finished second in a group which included the eventual champions, Italy, and were somewhat unlucky to run into Brazil in the round of 16.

    Four years later, in South Africa, Ghana again got out of a tough group (including Germany, Australia and Serbia) before defeating the United States 2-1 after extra time in the round of 16.

    In the quarterfinals they were desperately unlucky to fall to Uruguay on post-match penalties, having held the South Americans 1-1 over 120 minutes and missing out on a last-gasp penalty from Asamoah Gyan to win the match outright.

    At Qatar 2022, Ghana will have the chance to avenge this defeat to Uruguay, as they face La Celeste in their final Group H match on December 2. The Black Stars’ first two matches will be against Portugal (November 24) and South Korea (November 28).

    No rival can compete with SuperSport’s coverage. Our viewers on DStv and GOtv enjoy an unrivalled selection of football from around the world!

    Don’t miss the New Football Season on SuperSport on DStv and GOtv. Visit www.dstv.com and www.gotvafrica.com to subscribe or upgrade, and join in on the excitement. And while you’re on the move, you can stream matches on the DStv App.

    Source: Footballghana

  • Ghana records trade surplus of $1.7 billion in August 2022

    In August 2022, Ghana reported a trade surplus of $1.7 billion. Compared to August 2021, when US$892.4 million was reported, this is an increase.At a press conference on October 6, 2022, the Bank of Ghana made this information public.

    The increase, according to Dr. Ernest Addison, Governor of the Bank of Ghana, was brought about by “greater receipts from gold, crude oil, and non-traditional exports, notwithstanding rising need for oil and gas imports.”

    Additionally, he mentioned that the nation’s total exports increased by $3.8 billion.

    “Total exports went up by 19.5 percent year-on-year to US$11.8 billion. Crude oil exports totalled U$3.8 billion, 56.5 percent higher than observed in 2021, mainly due to price effects.

    Gold export earnings also went up by 23.9 percent to US$4.2 billion, supported by increased production volumes triggered by the positive response from small-scale gold exporters to the downward revision of the withholding tax regime from 3 percent to 1.5 percent.

    Despite these increases, cocoa receipts declined by 22.8% to hit US$1.7billion.

    “However, on account of lower prices and low cocoa purchases, cocoa receipts declined by 22.8 percent to US$1.7 billion from US$2.1 billion.
    Total merchandise imports grew by 12.9 percent on a year-on-year basis to US$10.2 billion, mainly driven by a higher oil and gas import bill of US$3.1 billion at the end-August 2022, relative to US$1.7 billion in the same period of 2021. Non-oil imports, however, dipped by 3.8 percent year-on-year to US$7.1 billion in the review period,” he added.

  • ‘December in GH’: 50 events endorsed so far

    A total of 50 events have so far been endorsed for the upcoming “December in GH” Events, Chief Executive Officer of GTA, Mr Akwasi Agyeman, has said.

    He said out of 83 event proposals received by the “Beyond the Return” Secretariat, 50 have been endorsed.

    However, this does not mean that the other 32 would not have the events organized, but only that the ‘Beyond the Return’ stamp would not be on it.

     

    “All the 50 endorsed events have been formally informed, and currently we are finalizing the process for publication. We are also still receiving events and we welcome an event idea or initiative, even though we have shut the door for proposals.”

    Mr Agyeman made this known at a stakeholder’s engagement to discuss the preparedness towards the activities and to look at areas of collaboration and cooperation of the different organisations.

    He said since the introduction of the Events in 2019, it had become central to the concept of ‘Beyond the Return’, and the tourism industry as a whole.

    Source: Classfmonline

  • 21% increase in cocoa price insult to farmers – PNC

    According to the People’s National Convention (PNC), the government’s 21% increase in the producer price of cocoa is an insulting and disrespectful act.

    “The difficulty in the economic system which is substantiated by the high cost of goods and the continuous increase in petroleum products should have compelled the cocoa board to increase the price of cocoa for the 2022/2023 cocoa season to at least 40%,” said Mark Ewusi Arkoh, national youth organizer for the PNC.
    Instead of GHS 800.00, this would have increased cocoa prices to a minimum of GHS 925.00.

    According to the PNC, the “increment is a pittance compared to the hard toil of the Ghanaian Cocoa Farmer this season” urging COCOBOD as a matter of urgency to review the price upward.

    The statement said the country risks losing farms to galamsayers as some farmers have already been reportedly selling off their farms to galamseyers.

    “Farmers find it difficult to manage the proceeds from this price. If cocoa farmers are not happy, productivity in this sector is also negatively affected. Many farmers are getting disappointed by the day.

    “That being said, the government should quickly come in to review this price increment not only to save our third-best export commodity but
    to save our water bodies.”

    Background

    The government has pegged the producer price for cocoa at GH¢800 per bag of 64kg.

    The new price takes effect Friday, October 7, 2022, for the 2022-2023 crop season.

    The upward adjustment shows a 21 percent increase from GH¢10,560 per tonne to GH¢12,800 per tonne.

    Minister for Food and Agriculture, Dr. Owusu Afriyie Akoto announced at a press briefing in Accra Wednesday, October 5, 2022.

  • Black Sherif reveals meaning behind maiden album name

    Arguably the man of the moment, Ghanaian musician Mohammed Ismail Sherif, also known as Black Sherif, has revealed why his debut album is named ‘The Villain I Never Was’.

    To Apple Music 1 radio station’s Dadaboy Ehiz and via FaceTime, he explained the title of the album captures the constant battle with the world and people around him, the battle within himself and the perception he and others hold of him as a result.

    “We as individuals are all connected in some way, and some way somehow we are all fighting different battles – internal, external – and with me, everything I’ve learned or say are more like experiences, things I’ve seen or things I’ve seen people go through,” he said.

    “With my life, I feel like [a mess], bro,” he revealed.

    “I feel like I’m fighting myself, and I’m a human, I need to feel like that sometimes. It shouldn’t always be up up,” Sherif explained further.

    “All of the times I’m the villain – in my story, in people’s story – everywhere I’m the villain, but when I sit and think about it I know “Nah bro, I don’t just wake up to be a villain,” he reasoned.

    “I’m fighting for my life, I’m trying to make sense, I’m trying to be a better person so I really wasn’t the villain that people paint me to be or that myself is telling me. I’m not the villain,” the ‘Kwaku the Traveller’ hitmaker argued.

    The RBA and EMPIRE artiste also spoke on why he avoided collaborations on the album.

    On the 14-track album released yesterday, Thursday, 6 October, 2022, the only collaboration is the 11-month-old ‘Second Sermon’ featuring Nigeria’s Burna Boy.

    “I really needed to know myself and explore everything in me before I can start sharing out for people to help me tell my story,” the rapper said.

    “Music for me has always been very personal, like a safe haven for me to talk my insecurities, things I can’t say outside, so to get someone on a record with me, I just feel like they can’t help me tell my story” he clarified.

    “That’s why I went real solo on the album – you know the ‘Second Sermon (Remix)’ with Burna was the only feature on this album. I want people to know my perspectives on life, to actually brief them on what I know, what I’ve seen, what I believe in and how I’m doing,” the artiste nicknamed Blacko added and made a promise: “But soon, collaborations are gonna come, trust me.”

    Initially advertised as an extended play (EP), the rapper said this of the surprise long play (LP):

    “First thing I’ll say, [the energy] is 100 [per cent] but I was more introspective on this album. I went deeper, I talked about my perspectives on love and things, my experiences. I talked about my external battles, my internal ones, how I cope and how I’m doing.”

    Source: Ghanaweb

  • Ghana to leverage lithium discovery to manufacture solar batteries – Energy minister

    Government has announced plans to start producing solar batteries locally following the discovery of lithium in the country.

    The Deputy Minister of Energy, Andrew Egyapa Mercer, who made this known at the Africa Energy Conference 2022 in Accra, said government’s intent to manufacture solar-powered batteries is purely targeted at revenue generation, boosting industrialization and promoting renewable energy.

    “The opportunity for industrial and commercial ventures into the renewable market has the potential for revenue generation, job creation, and energy security enhancement,” he said.

    Lithium is a soft, silvery-white alkali metal, mostly used in the production of rechargeable batteries for mobile phones, laptops, digital cameras, and electric vehicles. Lithium is also used in some non-rechargeable batteries for things like toys and clocks. It is among the top 10 most expensive minerals in the world.

    In Ghana, the first West African lithium-producing country, lithium has been discovered in commercial quantities in the Volta, Western, and Ashanti regions.

    The global demand for lithium has gone from 263,000 metric tons in 2019 to 559,000 metric tons in 2022 because it is one of the crucial minerals required for producing EV batteries.

    This demand is expected to rise to over 1 million metric tonnes by 2025.

    However, there is vast untapped potential for the mineral in Ghana, hence, the government’s decision to leverage the discovery to boost the economy.

    “Ghana’s recent discovery of high grade lithium is an achievement that the government intends to leverage on in exploring the real possibility of manufacturing solar batteries locally,” Mr Agyapa Mercer said.

    News of Ghana’s lithium discovery broke in 2018. It was hailed as a significant achievement that will help the country’s electric vehicle manufacturing industry.

    The discovery, according to the Mineral’s Commission, was made during a nationwide exploration. It is estimated that Ghana can generate about $4.8 billion from the mining of Lithium.

    Source: The Independent Ghana

  • Shipper’s Authority, GIZ intensify efforts to resolve challenges faced by cross border traders

    Women in cross-border trade are urged to register with the Regional Shipper Committees of the Ghana Shippers’ Authority (GSA) if they haven’t already.

    The purpose of the move is to give the GSA the opportunity to acquire sufficient information about their operations and create programs and policies to assist their efforts aimed at socioeconomic growth.

    This comes after previous complaints from women involved in cross-border trade about difficulties they encounter at the borders, including among others delays in document processing by border agencies, issues with the Letter of Commitment (LOC), multiple checkpoints and extortions, and armed robbery.

    It is for this reason that the GSA collaborated with the GIZ-Trade Hub on 28th September 2022 to sensitize Women in Cross Border Trade in Accra on ways to avoid some of the recurrent challenges in their line of work.

    A Senior Officer with the Shipper Services and Trade Facilitation Department of the GSA Mrs. Rhodalyn Djanitey used the occasion to educate the cross-border traders on the Authority’s Shipper Complaints and Support Units which have been set up at all the country’s entry points.

    She assured the cross-border traders that the Shipper Complaints and Support Units are well equipped to handle any challenge and encouraged them to utilize their services.

    The Head of the GIZ-Trade Hub Dr. Maren Breuer reiterated the crucial role played by Women in Cross Border Trade to Ghana’s economy, hence the decision to intensify efforts to assist them.

    The Organizer for the Women’s Wing of the Ghana Union of Traders Association (GUTA) Pearl Poku commended the GSA and the GIZ-Trade Hub for the initiative and called for regular collaborations to assist the operations of cross-border traders.

  • Black Sherif’s album will be more successful than Sark, Shatta’s – Bullgod

    Appearing on Accra-based Hitz FM as a guest entertainment pundit, Ghanaian creative arts figure Bullgod has projected Black Sherif’s album, ‘The Villain I Never Was’, will perform better than that of Sarkodie and Shatta Wale’s.

    “I woke up this morning and I was like, yo, this month of October is a serious month because we have three of our artistes releasing: Black Sheriff just released, Sarkodie will release in a few days, then Shatta will release,” he said.

    “Now listen. Off the top of my head, I’ll say, Black Sherif will do better than all of them,” he projected.

    “If you look at the numbers, Black Sherif has a label. They don’t,” Bullgod explained.

    “Shatta and Sarkodie are about to compete with EMPIRE [the record label Black Sherif is on] and they don’t have the strength to do that,” he stressed.

    Formerly called Bulldog, the music talent manager argued that “unless some miracle [happens],” his former artiste, reggae/dancehall star Shatta Wale and rap star Sarkodie cannot have the marketing reach and success that the newcomer Black Sherif will with his maiden album courtesy his American record label.

    “Music’s changed – I mean, it’s been like that for a very long time but it’s just that we really didn’t understand the system at the time. You can’t do this alone,” Bullgod again said clarifying this position and highlighting the importance of a record label partnership.

    “It’s not about the talent, it’s about the reach,” he added and stressed you cannot compare an independent artiste to one that is signed and assisted by a label.

    Emphasising that radio personalities and pundits, like himself, must keenly educate themselves, he concluded: “If these albums come out and Black Sherif’s is doing well, we shouldn’t come and sit here on radio” and do uninformed comparisons.

    Today, Thursday, 6 October, 2022, Black Sherif released his 14-track debut album which comes ahead of industry seniors: Sarkodie’s ‘Jamz’ advertised to be released on October 11 and Shatta Wale’s ‘Gift of God (GoG)’ advertised to be released on October 17.

    Another newcomer, rap star Amerado who has a hit collaboration called ‘Abotre (Patience) with Black Sherif, is set to release his ‘GINA: God Is Never Asleep’ album on October 25.

    Source: Ghanaweb

  • African countries must work together to ensure gaps in energy sector are resolved – Egyapa Mercer

    A Deputy Minister of Energy, Andrew Kofi Egyapa Mercer, has reiterated calls for Africa to work to ensure the infrastructure gap and financing challenges within the continent’s energy sector are resolved.

    Andrew Kofi Egyapa Mercer believes this is the opportune time for the continent to break through as the world works in achieving Sustainable Development Goal 7 which focuses on affordable and clean energy.

    The Deputy Minister was speaking at this year’s Africa Energy Conference organized by the Business and Financial Times in Accra.

    He urged African Leaders to adopt pragmatic approaches to resolving the energy challenges confronting the continent.

    “African countries in addressing energy needs and challenges must adopt approaches which guarantee consistent efficiency, monitor projected opportunities, and strategically position nations to take full advantage of these opportunities.”

    “African countries must do the seemingly simple things very well while exploring emerging opportunities in the sector.”

    Source: Citinews

  • ‘December in GH’: 50 events endorsed so far

    According to Mr. Akwasi Agyeman, Chief Executive Officer of GTA, a total of 50 events have been approved so far for the upcoming “December in GH” Events.

    50 of the 83 event proposals that the “Beyond the Return” Secretariat received had been approved, he claimed.

    However, this merely means that the ‘Beyond the Return’ stamp would not be present on the remaining 32 events, which would still be planned.

    “All the 50 endorsed events have been formally informed, and currently we are finalizing the process for publication. We are also still receiving events and we welcome an event idea or initiative, even though we have shut the door for proposals.”

    Mr Agyeman made this known at a stakeholder’s engagement to discuss the preparedness towards the activities and to look at areas of collaboration and cooperation of the different organisations.

    He said since the introduction of the Events in 2019, it had become central to the concept of ‘Beyond the Return’, and the tourism industry as a whole.

    He said the call for proposals was opened somewhere in July after which those received were submitted to the steering committee and the sub-committee for review.

    The committee reviewed the events looking at the preparedness of event organizers, and its alignment with the whole concept of the Return and the “December in GH” Events.

    The GTA CEO noted that the committee ensured that some of the events would happen across the country based on feedback from previous events, which showed Accra dominated the events.

    He said the Authority was hoping to set up a welcome booth at the airport to allow people to scan the ‘Beyond the Return’ bar code and have the events, venues, and prices.

    “We are working with some operators on charter flights because the scheduled airlines have all been booked. There are talks and we have licensed a few operators who want to bring in charter flights and if this is achieved it would help drive people to the Destination.”

    Mr Agyeman appealed to event organizers to provide the prices of their events as well as all protocols involved to the Secretariat and ensure to maintain standards in their operations during the events, to attract more tourists to boost the country’s tourist receipts.

    “As a collective body, we would be able to put our best foot forward to work to promote Ghana and make sure that people who come in become ambassadors for the country.”

    Mr Nadel Majdoub, Head of the Protection Department, National Security, said security before, during and after was key to the successful organisation of the Events, especially with issues of terrorism almost at our doorstep.

    He said the security agencies needed to be informed about all arrival schedules, hotels for guests, event venues and times and departure schedules, among others.

    “We must be informed about all arrival schedules from the diaspora, to be able to receive them and send them safely to their hotels and extend protection to them. The event venues and time must also be made available to deploy personnel and do some electronic or manual sniffing to ensure security ahead of time.”

    Mr Majdoub said there was also the need to be informed about guests who need close protection, to assign personnel to guard them as well as those who require an escort to travel across the county

    Mr Ben Anane Nsiah, Deputy Chief Executive, General Services, GTA, said the meeting was a destination-wide engagement to make Ghana the destination come to in December, and it was important for stakeholders to ensure to give people the required experience.

    He said the Authority was still reaching out to the hospitality establishments to engage and train them to be more professional during the period as well as a consistent effort to upgrade tourist sites to engage the interest of visitors.

    Mr Anane Nsiah said, “we do not want “December in GH” to be a December in Accra, and so we have had engagement with various events organizers outside Accra to give the visitor a comprehensive enhancing experience of the whole country.”

    “As a country, we have certain targets to meet, and the last quarter of the year is important in making us reach the numbers we want. So, we need stakeholders to provide the information to be able to put all necessary things in place.”

    Ms Annabelle Mckenzie urged event organizers to ensure their tickets were available to be purchased online, as the main target was to attract global Ghanaians in the diaspora.

    She encouraged organizers to pay their vendors at the end of the event and ensure that all contracts with other stakeholders were officially signed.

     

  • Gary Nimako named NPP’s Director of Legal Affairs

    The New Patriotic Party (NPP) has appointed Gary Nimako, a lawyer, as its first Director of Legal Affairs.

    This is the first time the party is creating a Legal Directorate since its formation.

    The Directorate will be responsible for advising the General Secretary of the party in the performance of his functions on legal matters affecting the party, including members of the party and ancillary matters of legal nature in the day-to-day administration of the party.

    He is also expected to coordinate all legal cases for and against the party and defend the party in court.

    Mr. Nimako will work closely with the Constitutional and Legal Affairs Committee of the party.

    Prior to his appointment, Gary Nimako was a long-standing Member of the NPP Legal Team, and has been instrumental in the conduct of the party’s cases in court, including the various parliamentary election petitions.

    He has also served as a Member of the Constitutional and Legal Committee of the Party’s National Council.

    Source: Citinews

  • Be decisive; stop politics with debt restructuring with IMF – Lord Mensah to government

    In order to quickly achieve an agreement with the Washington-based lender, senior lecturer at the University of Ghana’s Business School, Prof. Lord Mensah, has advised the government to be open with the International Monetary Fund (IMF) about Ghana’s debt problem.

    His remarks follow the World Bank’s Africa Pulse Report, which places Ghana’s debt at a horrifying percentage level.

    According to the World Bank’s estimate for October 2022, Ghana’s debt will increase from 76.6 to 104.6 percent of GDP by the end of this year 2022.

    The government’s debt deficit, growing debt costs, and the ongoing depreciation of the cedi were also discussed.

    Commenting on the report on Morning Starr with Francis Abban, Prof. Mensah said unless the government has a restructuring investment plan with the IMF they will not get any deal with the Washington lender.

    According to him, for a typical African country like Ghana to have its debt exceeding 100 percent is a problem.

    “The government seems to be wobbling on its decision to either call for debt restructuring and they are waiting to come and tell us that it’s the IMF that is calling for debt restructuring. But I am telling you that the IMF will not call for debt restructuring.

    “But for us to get a program with them we have to do that because they will not lend to any country that is in debt distress. So we may have to negotiate on our debt and I am expecting the government to be bold enough to come out,” the senior lecturer advised.

    He continued: “Now they are playing politics with it. So effectively they don’t have that confidence in coming to the investor and telling the investor look this is the situation we find ourselves in and as a result of that we may have to restructure your investment.”

    Prof. Mensah, however, advised the government to improve its internal revenue generation and export ratio, adding that the government must be quick in telling Ghanaians about the economic situation before going into any deal with the IMF.

  • Deputy Energy Minister, Amin Adam, appointed Board Chairman of New Producers Group

    The Deputy Minister for Energy and Member of Parliament for Karaga, Dr. Mohammed Amin Adam, has been appointed Board Chairman of the New Producers Group for Oil, a network of over 700 government officials and national oil company executives from more than 30 member countries.

    This follows his nomination for the role by Dr. Matthew Opoku Prempeh, Minister for Energy of Ghana.

    Member countries of the Group offer each other help and receive expert advice to understand the risks and the opportunities of becoming new oil and gas producers as the world economy begins to decarbonise.

    Dr. Adam presided over the annual meeting of the Group in Cape Town, South Africa as part of the 10th Anniversary celebration of the Group.

    Dr. Adam brings several years of experience in energy policy, advocacy and leadership to this role. He is an Energy and Petroleum Economist and has been Deputy Minister at the Ministry of Energy since 2017.

    Source: Myjoyonline

  • I don’t chase trends; I create them – Reggie Rockstone cites 90s

    Advising Ghanaian rap sensation Black Sherif to craft a unique name for his music style, Ghanaian Hiplife pioneer Reggie Rockstone has cited how he zigged away from the Highlife of his youthful days and as a result created the Hiplife genre.

    He made the recollection to Nana Romeo, host of Accra 100.5 FM’s mid-morning show ‘Ayekoo Ayekoo’, on Thursday, 6 October 2022.

    “When I came home [to Ghana], I came to meet the likes of Uncle [Daddy] Lumba [but] I just stayed in my corner, in my lane,” he reminded the audience.

    “I kept at it for a while and eventually named it,” he continued.

    “So me, I’ve always said this, I don’t chase trends, I create trends,” the rap megastar stated matter-of-factly before adding: “When others are making music in this direction, I’m going in the other direction.”

    As if to indicate how challenging the trendsetter’s path is, he said, “Slowly, you [the audience] will see or notice it. And that’s how I move. It’s a fact.”

    “So Blacko, your style, if you decide to name it Sherif-life or Blacko-something, you’ve in fact started a new sound,” he suggested.

    Naming his music style “would be really good judging from what happened to me,” Reggie Rockstone said.

    “When you finally do it, give the evidence so 30 years later, after your hard work, no one will come and claim you are not the originator. Have you heard?” he stressed the advice.

    Using both the American English and Twi dialect of the Akan language of Ghana, sampling classics like ‘Kyenkyen Bi Adi Me Awu’ by Alhaji K. Frimpong, and with his captivating energy and panache, Reggie Rockstone is acclaimed as the 1994 originator of the Hiplife music style of Ghana.

    Source: classfmonline

  • McDan urges African brands to take advantage of AfCFTA to boost trade

    Chief Executive Officer (CEO) of the McDan Group of Companies, Daniel McKorley, has admonished brands on the continent to leverage the opportunities that come with the African Continental Free Trade Agreement (AfCFTA).

    Addressing brands that had gathered at the Labadi beach hotel for the 5th edition of the Africa Rising Leadership Conference, he noted that this is the surest way to ensure that the continent is recognized on the global map in terms of trade.

    He believes “the way forward for African brands for growth, sustainability, and robust capacity is to be able to break down all the barriers to trade to enable intra-African trade to flourish.”

    “And that is why I am so excited to partner with the African Continental Free Trade Area (AfCFTA) as they begin their maiden journey to break down those walls from the North to the South and from the East to the West of Africa,” he said.

    What is AfCFTA?

    The African Continental Free Trade Area (AfCFTA) is a free trade area encompassing most of Africa. It was established in 2018 by the African Continental Free Trade Agreement, which has 43 parties and another 11 signatories, making it the largest free-trade area by number of member states, after the World Trade Organization.

    AfCFTA is intended to accelerate intra-African trade and boost Africa’s trading position in the global market by strengthening Africa’s common voice and policy space in global trade negotiations.

    It promises a greater and deeper level of economic integration as well as increased investment, increased commerce, better jobs, a decrease in poverty, and shared prosperity throughout Africa.

    Speaking during the conference, McDan reposed a lot of confidence in brands on the continent, stressing that “we must remember, no one is going to do it for us. African brands are like African families, they have always known how to do it for themselves. So, while they rely on others, their foundation is always strong. I believe in the future of brands in Africa.

    “It is possible if we can work within the global and local economic challenges, knowing that they are part of our business evolution, understanding also that the challenge of change will continually come, and navigating the business brands through this is part of the purpose to success,” he added.

    Touching on how to build and sustain resilient brands even in the midst of a crisis, McDan entreated brand leaders to “learn and teach [their respective] teams to be adaptable and responsive to the tiniest level of change.”

    He also stressed the need for systems and structures to be established to ensure the success of a brand or a business.

    “Strong personalities don’t just build a business, rather, systems and structures. You must let your systems, structures, and good governance work and your business will succeed,” he said.

    Key among the factors was he mentioned was discipline. He asserted that, “discipline is not just a keyword but a watchword.”

    “And above all, the fourth industrial revolution is closer than we ever thought. We felt it through the pandemic, we feel it now, and we are going to feel it tomorrow. I believe that African business brands with purpose will respond to change and will sustain its growth and leave lasting legacies,” he added.

  • GACL develops Behavioural Standards Booklet to improve operations

    Paul Adom-Otchere, the board chairman of Ghana Airports Company Limited (GACL), has urged the airport’s personnel and other stakeholders to respect one another’s contributions and embrace service excellence as a community in order to put Kotoka International Airport (KIA) on the map of the world.

    He made this statement at the beginning of the 2022 Global Customer Service Week, which will take place from October 3–7, 2022, with the theme “Celebrate Service.”  The Airport Behavioural Standards Booklet was introduced at this year’s ceremony as well.

    Mr. Adom-Otchere indicated that Kotoka International Airport had come a long way in Airport Service Delivery and had been the proud recipient of the Airport Service Quality Customer Experience Awards on three consecutive occasions (Best Airport by Region and Size; 2-5million passengers for 2019, 2020 and 2021.

    This, he said was testament to the many years of consistent effort to enhance service delivery at the airport.

    He expressed appreciation to staff and stakeholders for their dedication and contribution to the successes chalked and indicated that the giant strides made in the Customer Satisfaction journey over the years could not have been possible without the support and commitment of staff, stakeholders and Customers.

    Airport Behavioural Standards Booklet

    Launching the Airport Behavioural Standards Booklet, the Board Chairman reiterated that the overall objective of developing a general standard behavioural guideline was to improve Customer Experience at the airports, regardless of who provides the service.

    He further added that the first edition of the handbook highlights excellent service standards that have been developed in partnership with cherished stakeholders. “This handbook is part of GACL’s performance enhancement strategies towards improving performance in the ACI Airport Service Quality Program and delivering enhanced customer experience at our airports”, Mr Adom-Otchere said.

    He urged staff and stakeholders to put their shoulders to the wheel in delivering outstanding Customer Experience in line with the defined Service Standards at the airports.

    Mr Eric Prempeh, Customer Service Manager on his part, affirmed that the celebration of Customer Service Week was to highlight the essence of Customer Service whilst recognizing the people who serve and support customers daily.

    He urged stakeholders to come together to offer a bouquet of world-class service experiences in a manner that will leave passengers with no choice but to select Kotoka International Airport over and over again.

    Another significant highlight of the launch was the signing of the Service Pledge by Management, Staff and Stakeholders present at the event. The Service Pledge is basically a commitment by all to work together as a team to deliver outstanding customer experience to passengers and stakeholders.

    The Customer Service Week, expected to be observed at all GACL-operated airports in Ghana will feature activities such as Airport Service Quiz, GACL goes Sporty, Photo Booth Session with passengers, Departmental Customer Service Awareness forum and Management’s visit to Agencies operating at the airport among others.

  • ICU-Ghana demands immediate cessation of incessant exploitation of labour

    As the world marks Day for Decent Work, the ICU-Ghana is calling for the immediate cessation of entrenching casual and contract work beyond the seasonal job period of six months allowed by the Labour Laws of Ghana.

    It is also kicking against the conversion of “Decent Work” into “Precarious Work” by some selfish and inconsiderate employers thus abusing the fundamental human rights of workers, to illegally maximise profits.

    It is therefore calling on all labour organisations in Ghana, the Ghana Employers Association, labour authorities and the Government to join hands with it to fight what it describes as the incessant exploitation of labour.

    The ICU-Ghana said, “We would not hesitate to mobilise and collaborate with organized labour in the country to resist any attempt by any employer/organisation to frustrate efforts towards the promotion of the decent work agenda if the incessant exploitation of labour does not stop.”

    It is calling on the relevant authorities (i.e. Government through Ministry of Employment and Labour Relations) to clamp down on these anti-nation builders parading as employers, and bring fairness and equality to the employment structure in Ghana.

    “The ICU-Ghana is ready to collaborate with the authorities to name, shame and sanction those exploitative employers so as to sanitize the employment system for the good of all stakeholders.” it said.

    World Day for Decent Work

    The 7th of October, is marked every year by the Labour Movement all over the world, as “World Day For Decent Work”, to garner support for the implementation and sustainability of “Decent Work”,  that is, work that gives equal pay for equal work; work that gives opportunity for personal development, work that ensures the future financial security (like social insurance) of workers, work that ensures job security etc of workers.

    In Ghana today, so many jobs have been made “precarious” through casualisation and contractualisation work regime, that has been foisted on a lot of workers due to the hydraheaded unemployment problems in the country, thus denying such unfortunate workers future financial security among other deprivations.

    These classes of workers are denied their fundamental human rights to freedom of association and forming or joining a trade union for the promotion and protection of their social and economic interests as espoused by the 1992 Constitution of the Republic of Ghana and the Labour Laws of Ghana.

    The casual, contract and temporary work regime, though allowed by the Labour Laws of Ghana for a limited period not exceeding six (6) months and for seasonal jobs only, has been entrenched and mainstreamed so much so that even some permanent  employees are outsourced by some unprincipled employers to employment  agencies and redeploy them back into the same organization as casuals and/or contract workers with reduced wages/salaries and denial of social insurance (like SSNIT) thus jeopardizing their future financial security.

    “This constitutes an Unfair Labour Practice and it must not be allowed to fester any longer.” said the ICU-Ghana.

    Covid-19 Impact

    The outbreak of Covid-19 pandemic that lasted for almost two years before subsiding, took a heavy toll on a lot of workers as they lost their jobs through staff attrition by some organizations and, in some cases, total closure of businesses.

    All this adversely affected the social insurance and future financial security of the workers and jeopardised their socio-economic interest and protection.

    Now that businesses are recovering and there is an opportunity for those who lost their jobs during the Covid-19 pandemic to regain their jobs, “if the precarious work regime is not stopped,” according to the ICU-Ghana, “it would further deteriorate the prospects of those unfortunate workers ever having any future financial security as this repressive regime of work denies them any social insurance and protection for the future.”

    Source: Myjoyonline

  • Ghana’s gross reserves fall to 2.9 months of import cover in September 2022

    Ghana’s Gross International Reserves fell to $6.6 billion, equivalent to 2.9 months of import cover for goods and services in September 2022, data from the Bank of Ghana has revealed

    This is compared with the December 2021 position of $9.7 billion, equivalent to 4.3 months of import cover.

    However, net International Reserves, which exclude encumbered assets and petroleum funds, is estimated at US$2.7 billion as at September 2022.

    Trade surplus hits $1.7bn

    Meanwhile, Ghana recorded a trade surplus of $1.7 billion dollars in the eight months of this year.

    This far exceeds the surplus of $892.4 million dollars recorded in August 2021.

    According to the Bank of Ghana’s Summary of Economic and Financial Data, this was driven by higher receipts from gold, crude oil and non-traditional exports (NTEs).

    Importantly, total exports went up by 19.5% year-on-year to $11.8 billion dollars.

    Crude oil exports totalled $3.8bn

    Crude oil exports totalled $3.8 billion, 56.5% higher than observed in 2021. This is mainly due to price effects.

    Gold export earnings also went up by 23.9% to $4.2 billion, supported by increased production volumes triggered by the positive response from small-scale gold exporters to the downward revision of the withholding tax regime from 3% to 1.5%.

    However, on account of lower prices and low cocoa purchases, cocoa receipts declined by 22.8% to $1.7 billion from $2.1 billion.

    Total imports stood at $10.2bn

    However, total imports grew by 12.9% on a year-on-year basis to $10.2 billion. This was mainly driven by higher oil and gas import bill.

    Non-oil imports, however, dipped by 3.8% year-on-year to $7.1 billion in the review period.

    Source: Myjoyonline

  • Galamsey menace: Trace persons who attempt to buy cocoa farms – Security Agencies tasked

    Kweku Baako Jr., managing editor of the New Crusading Guide, has tasked the security and intelligence services with finding people who purchase cocoa estates in order to mine the beans.

    Recently, a video of a cocoa farmer claiming to be selling his cocoa farm to an unnamed bidder leaked online.

    The cocoa farmer remarked that he owned the farm and the land on which the crop was grown, thus he was determined to sell it for mining in exchange for financial support.

    Addressing the issue on Peace FM’s “Kokrokoo” programme Wednesday morning, Kweku Baako called on the security services to pounce on the buyer as well as every person who attempts to buy any farm, particularly cocoa farms, for galamsey.

    He admonished the security operatives to collaborate with the sellers to find those who buy their farms.

    “If they won’t cooperate, the [intelligence] security services should have enough intelligence capability to find out. I don’t think it’s a big deal. If the seller will not cooperate and will not identify the buyer, it is not beyond the capacity of the State in terms of its intelligence gathering and security apparatus to trace who is doing the business there,” he stated.

  • Black Sherif is Bob Marley incarnated – Sonnie Badu

    Twenty-year-old Ghanaian rapper, Black Sherif, also known as Blacko has won the heart of gospel singer and preacher, Sonnie Badu, who has commended the young champ for his hard work and rise in the local industry.

    According to Dr Badu, Blacko is the incarnation of Jamaica’s iconic reggae singer and songwriter, Bob Marley.

    This comes after carefully following the progress and talent of the rapper who on October 6 released his maiden album titled ‘The Villain I Never Was’.

    “I think this young man @blacksherif_ is BoB Marley incarnate living in Ghana. His song writing abilities are just incredible,” read the Facebook post.

    Also reacting to his latest album, the preacher of the gospel prophesied that Blacko was going to be a music giant on the African continent.

    Dr Sonnie Badu added: “This new album solidifies the fact that – he will be one of the Giants of African music. And he will surely win some #Grammys for Ghana .. May God protect you from jealousy, envy, and premature termination as you walk in your giftings…. #DrBadu.”

    The rappers’ 14-track album has received positive feedback from music lovers, his colleagues and industry players.

    Check out the post below:

  • Take advantage of current crises to tap country’s potential – German Ambassador

    The current issues and challenges the nation is facing must be used by the government and the investor community to tap into promising regions and industries, according to Daniel Krull, the German ambassador to Ghana.

    In his opinion, the success of the nation’s recovery depends on identifying potential areas, investing in them, and utilizing them.

    “The situation in Ghana has been altered by external causes. The COVID-19 outbreak and the conflict between Russia and Ukraine have hurt the energy sector.
    The laws governing interest rates have also had an impact on Ghana’s capacity to repay its debt.

    “There are crises internally and externally, but I would like to express optimism. There are always chances in times of crisis, and I would encourage Ghanaian partners not to only look at the dark side but also look on the promising part,” he said.

    “The Russian-Ukraine war has caused enormous trouble in the energy supply for Europe, and has forced it to redesign its energy matrix at a much faster rate than was planned.

    “One main element of the new energy matrix for the European industry sector will be related to hydrogen power – and this brings me to Ghana, where there is huge potentials of untapped renewable energy sources, enormous hydropower sources – and all these could be harnessed,” he added.

    He revealed that his outfit is putting together a group of interested investors and linking them with possible off-takers in Europe, in the hope of having a private sector-driven process in the field.

    He added that given the soaring price and shortage of fertiliser, it opens opportunities for local producers – thus encouraging Ghanaian investors and companies to look into that possibility.

    “There are also complaints about the rising cost of imports, so I think it is time to look for import substitution and how the country can increase the amount of locally-produced products, especially in the field of agriculture and food processing. There are a lot of discussions going on regarding the possibility European industry might diversify resources. This again must open opportunities for Ghana and its industries,” he indicated.

    He revealed that there is an upcoming joint economic commission slated to take place in Accra this month.

    AfCFTA

    The Ambassador is confident the country can thrive under The African Continental Free Trade Area (AfCFTA) if it ensures a trained workforce and maintains quality products.

    The World Bank has said AfCFTA presents an opportunity for member-countries to reduce poverty, broaden economic inclusion and boost growth, despite the possible initial challenges of implementation.

    Full implementation of the agreement, according to the Bank, will boost regional income by 7 percent to US$450billion; lift 30 million people out of extreme poverty, and another 70 million people from moderate poverty.

    It is anticipated that the trade bloc will further spur wage gains for women by 10.5 percent compared to 9.9 percent for men, while making African countries more competitive – a situation that will propel innovation and growth.

     

  • Foreigner who attempted bribing police after wrongful U-turn fined

    A Ukrainian national who attempted to bribe a police officer has been convicted and fined a sum of GH¢2400.

    The Ukrainian, Serhri Kovtun, made an illegal U-turn on the Accra Tema motorway on October 5, 2022, at the Community 18 junction when he was intercepted by Citi TV’s War Against Indiscipline campaign team.

    Upon his arrest, he offered GH¢400 to the police, which was used as evidence against him in court.

    The La Motor court after assessing the video evidence presented by prosecutors found the accused person guilty.

    He was slapped with five counts of offences which included attempted bribery of a police officer, obstructing traffic, and wrongful U-turn amongst others.

    His vehicle was also impounded at the Airport police station.

    Source: Citinews

  • ‘I’m the demon in my country but Beyoncé came as my angel’ – Shatta Wale

    Shatta Wale, the self-acclaimed dancehall king, has eulogised Beyoncé, the American singer and songwriter for the collaboration they made on her ‘Lion King’ album.

    According to him, the American songstress came at a time when many Ghanaian industry players, whom he refers to as gatekeepers, saw him as a demon in the industry.

    Speaking to Paul Adom-Otchere on Metro TV’s ‘Good Evening Ghana’ programme on Thursday, October 6, 2022, Charles Nii Armah Mensah, as he is known in private life indicated that if Beyoncé had not come at the time she did, he wouldn’t have gotten anywhere.

    “You see Beyoncé, it is God that sent her and mommy wherever you are, God bless you. Because I am the demon in my country but you came as my angel,” Shatta Wale told Paul Adom-Otchere.

     

    To him, “if those opportunities had not gotten into my life, I wouldn’t have gotten anywhere.”

    The ‘I know my level’ hitmaker kept mentioning the name of Mark Okraku-Mantey, the Deputy Minister of Tourism, Culture and Creative Arts as one of the industry gatekeepers who tried as much as he could to block him from succeeding in the music industry.

    “…musicians have been poor in Ghana ooo, we have seen musicians that have come and gone and come and gone, we always try to talk to them like this and they don’t even say their feelings. Me, my heart is worrying me, I want to get money…

    “Do you know when Mark Okraku-Mantey started blocking me? Started saying that I won’t make it, I won’t get anywhere in my life…?” Shatta Wale quizzed.

    He recalled an instance where the deputy minister tried to talk him down on live radio, disclosing that he refused to respond to an interview on the radio and since then, Mark Okraku-Mantey who was then the Programmes Manager at Hitz said the station will create their own hero to rival Shatta Wale, in this instance, Stonebwoy.

    “Mark Okraku-Mantey is the problem of this whole music thing, they are deciding. When he was Programmes Manager at Hitz FM, he said on radio that because they were calling Shatta Wale for an interview and Shatta Wale didn’t come, so, they decided to create their own hero which was Stonebwoy…,” Shatta Wale alleged.

    PEN/SARA

  • Femi Otedola gains $120 million within 24 hours of NGX listing – Report

    The market value of Nigerian billionaire Femi Otedola’s Geregu Power Plc increased by more than $120 million in only 24 hours after it listed on the Nigerian Exchange (NGX), as both retail and institutional investors rushed to buy shares in the top power-generating company.

    The share price of the power-generating business surged by 10%, going from N100 ($0.231) at the time of listing to N110 ($0.254) at the conclusion of trading yesterday, in just thirty minutes after its 2.5 billion shares were listed on the Nigerian exchange on Wednesday, Oct. 5.

    At the time of this report’s writing on October 6, Geregu shares were trading at N120.9 ($0.279) per share, a 20.9-percent increase over the N100 ($0.231) listing price that they had at the time of their debut.

    According to information compiled by Billionaires.Africa, the company’s market capitalization rose by N52.25 billion ($120.85 million) over the course of the previous day, increasing from N250 billion ($578.25 million) to N302.25 billion ($699.1 million) at the time this report was written.

    Analysts agree that the recent buying pressures on Geregu Power’s shares can be attributed to the strong valuation of the industry, which has allowed the power company to deliver double-digit growth over the last five years due to robust demand and increased output.

    Following the listing, the company’s valuation could skyrocket as investment bankers, hedge funds, and private investors compete for stakes in the power generation firm, which is majority owned by Otedola through one of his companies, Amperion Power Distribution Company.

    Vetiva Research, the research arm of Vetiva, a Lagos-based financial services firm, revealed that the company’s shares could reach N131 ($0.303) per share, highlighting its strong performance as it has seen consistent improvement in power output over the five-year period, indicating increased efficiency and improved utilization of its power plant.

  • No rush for prepaid credit; system glitch resolved – ECG to customers

    The Electricity Company of Ghana (ECG) is urging the public to desist from panic purchase of prepaid credits.

    ECG says it has addressed all challenges that marred its metering systems, hence the need to refrain from any panic buying.

    Addressing the media, the Managing Director of ECG, Samuel Dubik said all of its platforms are operational including the vending app on Android mobile phones.

    “I would like to reiterate that if your power is not finished, don’t panic, just take your time because if you run out you can buy credit, so we are able to reduce the queues that are forming. But all third parties are up. All those with challenges should go to the ECG offices for the issue to be resolved. We are deeply sorry for the inconvenience and we intend to do right for the people of Ghana”.

    The ECG said a technical challenge affected its prepaid metering systems, a development which has interrupted the purchase of electricity credit.

    Both domestic and commercial users who run out of power supply were not able to make purchases due to the technical challenge.

    Compensation

    Some consumers have been counting their losses, with some saying their businesses have been affected negatively following their inability to purchase electricity.

    The Public Utilities Regulatory Commission (PURC) has directed the ECG to compensate customers affected by its prepaid vending and metering glitch. 

    The directive according to the PURC is in line with the breach of the ECG’s statutory obligations. 

    The ECG had ruled out any payment of compensation following the vending failure in its prepayment system which has affected consumers for the past one week adding that, such a decision if considered, will be made on a case-by-case basis. 

    But in a statement issued on Tuesday, October 4, 2022, the PURC said, “it hereby orders ECG to pay compensation to the affected customers”.

    This, it says, is in compliance with the law and a demonstration of good customer service.

    These compensations will come in the form of one-time electricity credit commencing October 1, 2022 and ending October 7, 2022.

    Source: Citinews

  • There is too much uncertainty in the business environment – Twum Akwaboah

    The Chief Executive Officer of the Association of Ghana Industries, Seth Twum Akwaboah, says most businesses find themselves in a very difficult situation due to the prevailing uncertainty in the business space.

    According to him, the recent policy measures undertaken by the Bank of Ghana and government have done very little to allay the fears of business owners in the country, due to the fact that there has been a failure on the part of these institutions to clearly define what the endgame of these policy measures are.

    He stated that this has thus affected the planning and projection of most businesses in the country.

    Speaking on JoyNews’ PM Express Business Edition, he said, “These are challenging times and indeed it’s a big dilemma that we find ourselves in. Do we continue doing business or we pack and go? At this particular moment you cannot pack and go, you must continue to do business but it’s a difficult situation for a lot of our businesses.

    “The challenge we have is the uncertainty that is surrounding this whole business environment now. if people are clear what the horizon is, what the pointers are getting to, then you can plan on the basis of that. Even if you have consistent rise in policy rates and inflation and all that and you’re very sure how the endgame is going to be you can still plan around it. The difficulty we have is the uncertainty.

    “And when you look at the AGI business barometer survey the major driver of the barometer coming down, the confidence level coming down is the uncertainty and this is where we find ourselves. The continuous rising of the policy rate and all the other macroeconomic indicators pointing to a negative direction is not giving certainty at all in the business environment, and that is indeed tough for businesses.”

    His comments come on the back of the Monetary Policy Committee (MPC) of the Bank of Ghana increasing the policy rate by 250 basis point to 24.5%.

    This is the highest policy rate increase since 2017.

    The rate hike means it will become more expensive to borrow from the banks, a situation that will push the cost of living and doing business in the country further up.

    Addressing the media, the Governor of BoG, Dr Ernest Addison, explained that the committee reached the decision in order to check the rising rate of inflation as the country negotiates with the International Monetary Fund (IMF) for an economic programme.

    “Inflation remains elevated and the balance of risks is on the upside. Although the forecasts are for monthly inflation to continue to slow down, the risks are on the upside, emanating largely from pass-through effects of the currency depreciation, the recent upward adjustment in utility tariffs, and rising inflation expectations”.

    “The Committee remains committed to re-anchoring inflation expectations and returning to a disinflation path,” Dr Addison added.

    Source: Myjoyonline

     

  • KIA develops Behavioural Standards Booklet to improve operations

    In order to put Kotoka International Airport (KIA) on the map of the world, the board chairman of Ghana Airports Company Limited (GACL), Mr. Paul Adom-Otchere, has urged stakeholders and employees to respect each other’s positions and embrace service excellence as a community.

    He made this statement at the beginning of the “Celebrate Service”-themed 2022 Global Customer Service Week, which runs from October 3–7.
    At this year’s ceremony, the Airport Behavioural Standards Booklet was also released.

    Mr. Adom-Otchere indicated that Kotoka International Airport had come a long way in Airport Service Delivery and had been the proud recipient of the Airport Service Quality Customer Experience Awards on three consecutive occasions (Best Airport by Region and Size; 2-5million passengers for 2019, 2020 and 2021.

    This, he said was testament to the many years of consistent effort to enhance service delivery at the airport.

    He expressed appreciation to staff and stakeholders for their dedication and contribution to the successes chalked and indicated that the giant strides made in the Customer Satisfaction journey over the years could not have been possible without the support and commitment of staff, stakeholders and Customers.

    Airport Behavioural Standards Booklet

    Launching the Airport Behavioural Standards Booklet, the Board Chairman reiterated that the overall objective of developing a general standard behavioural guideline was to improve Customer Experience at the airports, regardless of who provides the service.

    He further added that the first edition of the handbook highlights excellent service standards that have been developed in partnership with cherished stakeholders. “This handbook is part of GACL’s performance enhancement strategies towards improving performance in the ACI Airport Service Quality Program and delivering enhanced customer experience at our airports”, Mr Adom-Otchere said.

    He urged staff and stakeholders to put their shoulders to the wheel in delivering outstanding Customer Experience in line with the defined Service Standards at the airports.

    Mr Eric Prempeh, Customer Service Manager on his part, affirmed that the celebration of Customer Service Week was to highlight the essence of Customer Service whilst recognizing the people who serve and support customers daily.

    He urged stakeholders to come together to offer a bouquet of world-class service experiences in a manner that will leave passengers with no choice but to select Kotoka International Airport over and over again.

    Another significant highlight of the launch was the signing of the Service Pledge by Management, Staff and Stakeholders present at the event. The Service Pledge is basically a commitment by all to work together as a team to deliver outstanding customer experience to passengers and stakeholders.

    The Customer Service Week, expected to be observed at all GACL-operated airports in Ghana will feature activities such as Airport Service Quiz, GACL goes Sporty, Photo Booth Session with passengers, Departmental Customer Service Awareness forum and Management’s visit to Agencies operating at the airport among others.

  • Moliy readies ‘Honey Doom’, releases single, ‘Hard’

    Ghanaian American singer-songwriter Moliy takes on the perfect woman empowerment anthem of the year ‘Hard’ with Moonchild Sanelly from South Africa widely known for her major contribution to Beyonce’s Black is King album.

    Moliy is introducing fans to a preview of what’s to come on her highly anticipated EP ‘Honey Doom’. This bop is infused with a beautiful collaboration of Hip Hop, Afrobeats and laced with Baddie energy. Moliy starts the track by setting the tone and laying the lines out smoothly, allowing the listener to anticipate more.


     

    She takes the listener’s mind to a place of understanding; she’s in control and is boldly stating what she wants. Moliy’s soft but infectious vocals ride effortlessly over MikeMillzOnEm’s production, as she brings the listener into her state of mind on how she wants things to go. The song then introduces the listener to the high-energy and confident Moonchild, bringing a dose of magic and sexy cool vibes to the track.

    ‘Hard’ is the second record from her upcoming EP ‘Honey Doom’ scheduled for release on October 19, 2022. ‘Honey Doom’ features some of Moliy’s most vulnerable, raw storytelling to date, and tracks her personal development as a young woman unpacking love and relationships; alongside her own experimental journey with her sound, which remains otherworldly, airy and optimistic, while expanding to include more of her influences globally.

    Source: Ghanaweb

  • Dr. Nduom attends Freedman’s Bank Forum at White House

    Dr. Papa Kwesi Nduom, a business magnate and the head of Groupe Nduom, attended the 2022 Freedman’s Bank Forum on Tuesday, October 4, 2022, along with other world leaders.

    The United States of America’s Department of the Treasury hosted the annual gathering of the top executives from the public, corporate, nonprofit, and philanthropic sectors.

    To advance strategies that release the economic potential of Black, Latino, AANHPI, and Native communities, Secretary Jack Lew founded the forum in 2015.

    It also gives opportunities to others that have experienced limits on their ability to fully participate in the US economy.

    Dr. Nduom who attended the programme as a corporate attendee was also a participant in a VIP Private Sector Leader Breakfast (VPSLB) with Secretary Janet Yellen.

    He was also made to join a special meeting with selected Treasury officers.

    Corporate Attendees who graced the occasion are; Asutosh Padhi, [North America CEO, McKinsey], Christopher Gorman, CEO, [KeyCorp], David Clunie, Executive Director, [Black Economic Alliance], Eric Taylor, CEO, [Trident], Jeffrey Hirsch, CEO, [STARZ], and John Rogers, Co-CEO, [Ariel Investments].

    The rest included Papa Nduom, Chairman, [GN Bank], Rajiv Shah, President, [The Rockefeller Foundation], Rip Rapson, CEO, [The Kresge Foundation], Sanjay Mehrotra, CEO, [Micron Technology] and Sharon Bowen, Chair, [NYSE].

    Speakers included senior Biden-Harris Administration officials, corporate and philanthropic CEOs, and leading advocates and practitioners.

    Other Biden-Harris Administration Attendees are as Secretary Janet Yellen, [United States Treasury] Deputy Secretary Wally Adeyemo, [United States Treasury] Ambassador Susan Rice, [White House Domestic Policy Council] and Janis Bowdler, Counselor for Racial Equity, [United States Treasury].

  • Arsenal boss Mikel Arteta lauds Ghana target Eddie Nketiah after scoring against Bodo/Glimt

    Arsenal manager Mikel Arteta has heaped on Ghana target Eddie Nketiah after scoring in their 3-0 win over Bodo/Glimt in the UEFA Europa League.

    Nketiah followed up his winner against FC Zurich in their first group game by breaking the deadlock on Thursday night with an instinctive finish to set the Gunners on our way to victory, and maintain their 100 per cent start to the competition.

    The 23-year-old lasted for 82 minutes before being replaced by Reiss Nelson at the Emirates stadium.

    “I’m really happy. Today we played a different opponent, a difficult opponent, I mentioned that before and I think everybody saw that,” Arteta said as quoted by the club’s website.

    “Eddie is always ready. Every time he plays you look at the numbers and the stats he produces, it’s phenomenal, and today he had a chance to play and I think he took it really well.”

    Nketiah has made 10 appearances for Arsenal across all competitions this season and scored two goals in the process.

  • Dr. Bawumia is an unmitigated disaster – Prof. Hanke backs Mahama’s aide

    Dr. Mahamudu Bawumia, Vice President, has come under fire from Johns Hopkins University professor of applied economics Steve Hanke for how the economy has performed while he has been in office.

    Dr. Bawumia, in the opinion of Prof. Hanke, has been a “unmitigated disaster” in charge of Ghana’s economy.

    The US-based economist expressed his complete agreement with the viewpoint in a tweet that made reference to a GhanaWeb article where Felix Kwakye Ofosu had made a like statement.

    “Former Deputy Communications Minister Kwakye Ofosu calls #Ghana’s VP Bawumia an “unmitigated disaster.” I couldn’t agree more. Today, I measure Ghana’s inflation at a punishing 87%/yr. That’s more than 2.5 TIMES the official rate,” Prof Stave Hanke tweeted.

    This is not the first time Professor Hanke has hit hard at Dr. Bawumia who doubles as the de facto head of the Economic Management Team (EMT).

    In a September 20 tweet, the professor identified the Vice President as the cause of the country’s problems.

    According to him, even though the Vice President rode on the back of coming to solve the problems of the country, he is rather doing the opposite by creating problems.

    Professor Hanke was commenting on the depreciation of the Ghana Cedi against major trading currencies, especially the US dollar.

    “#Ghana’s VP Bawumia says he’s ‘into politics to help people solve problems.’ SPOILER ALERT: Bawumia is the one CREATING the problems. Today, I measure GHA’s inflation at a stunning 81%/yr, nearly 2.5 TIMES the official rate,” he tweeted.

  • Corporate Governance Code to set national standard for best corporate governance principles, practices

    A Professor of Accounting, Southampton Business School, Professor Collins Ntim, says a Corporate Governance Code for Ghana will set a national standard for best corporate governance principles and practices.

    He said having a National Corporate Governance Code to guide corporations could help to minimize the ‘evils’ of business and make corporations a vehicle for economic growth and national development.

    Prof Ntim, Chairperson of the Drafting Committee of the National Corporate Governance Code for Ghana, being spearheaded by the Institute of Directors – Ghana (IoD-Gh), was speaking virtually at a stakeholders meeting.

    The meeting was to discuss in detail the National Corporate Governance Code to be launched on November 18, 2022.

    The Ghana Code comprises two main parts; the first part sets the general national standards of corporate governance and reflects relevant provisions of the 2019 Companies Act (Act 992) and best practices in existing national and international corporate governance codes, as well as Ghanaian cultural disposition and national aspirations.

    The second part of the Ghana Code endorses existing sectoral corporate governance codes, and develops new corporate governance codes for economic sectors without codes, including the informal sector, not-for-profit organisations and small and medium-sized enterprises.

    Prof Ntim stated that, for instance, a strong and effective Corporate Governance could minimise the risk of corporate failures and the attendant costs, including redundancies, unemployment, and government bailouts.

    The development of the Ghana Code, he said, had gone through four steps; planning, development, consultation and publicity, launch, implementation and review phases.

    The Professor of Accounting said the Code would recognise and endorse existing corporate governance codes in Ghana and promote Ghanaian values and national, continental and global developmental goals.

    He said the Corporate Governance Code would promote democracy, good governance, social justice and human rights and dignity while promoting enterprise and entrepreneurship by signalling Ghana as being ready for business.

    “The Code will promote equal opportunities and importance for all types of businesses – listed and unlisted, large and small, formal and informal, public and private among others,” he said.

    Among its values, he said, the Corporate Governance Code would be fashioned around patriotism, which required collectiveness rather than individualism; accountability, which made management or the leadership answerable for their actions through independent oversight mechanisms.

    Prof Ntim mentioned responsibility as it pertained to behaviours that pursued righteousness and allowed for corrective action, including punitive measures for mismanagement among others.

    Also, responsibility “involves seeking social justice, sustainability, fairness and equal treatment, protection of minority rights, environment, honouring responsibilities to stakeholders…” he added.

    Mr Rockson Kwesi Dogbegah, President, Institute of Directors-Ghana, in his remarks, said despite having several sectoral governance codes for banks, insurance companies, listed companies, and public sector organisations, amongst others, Ghana did not have a national corporate governance code.

    That, he said, did not just lead to a lack of coherence in the country’s approach to corporate governance, but left a vast cross-section of businesses and enterprises in the informal sector, not-for-profit organisations, and small and medium-sized enterprises without any corporate governance guidelines.

    To address that, he said the IoD-Gh was leading the corporate sector of Ghana to develop a comprehensive national corporate governance code that harmonised existing sectoral codes, covered sectors without corporate governance codes and incorporated best international corporate governance practices.

    Mr Dogbegah, also Chairman of the Board of the African Corporate Governance Network, reiterated that there was global consensus for the implementation of the highest standards of corporate governance as crucial and critical to the economic growth, sustainable development and social transformation of the continent.

    Source: GNA

  • Tackle youth unemployment; activities of terrorist groups – Mahama to gov’t

    Former President, John Dramani Mahama has underscored the need for government to tackle the growing rate of youth unemployment in the country.

    He asserts the high rate of youth joblessness is a matter of national security concern that requires serious tackling.

    “Government owe it as a responsibility to do all they can to secure the peace and safety of the nation, but above all to reduce youth unemployment. This is necessary to ensure that the young people do not become easily recruitable to fill the ranks of the insurgence due to frustration and lack of opportunity”, says Mr. Mahama.

    He was speaking as a special guest of honour at the 2022 Convocation at Liberty University in Michigan of the United States.

    The former President while condemning the activities of Boko Haram in the sub-region revealed that the youth stand a chance of being recruited if opportunities are not created for them.

    “Ghana is an Island of religious calmness in a sea of turbulence as almost all our surrounding neighbours have in recent times experienced some major form of insurgency, coup d’états or other conflicts, including religious conflicts.”

    “In all these acts, one thing is clear, leadership at all levels including the family, the school, the church, the government all have the responsibility to educate and inform the impress young members of our society about the imminent threats and dangers out there”, he emphasized.

    Terrorist activities happening in Sahelian countries such as Burkina Faso and Mali have become a major concern to the government, hence the need for stringent measures to ensure the safety of the citizenry.

    Ghana’s security agencies have been put on high alert over threats of terrorism in the country.

    The government said several efforts are underway to ensure that the country is protected from any form of attack following reports that terrorist groups are looking to expand southward, with countries such as Ghana in focus.

    Source: Citinews

  • Ghana FA procures equipment for eFootball National Football team

    The Ghana Football Association has acquired two sets of equipment for the GFA football National team and other e-competitions.The equipment includes a Play Station 5 Game full set which includes a Dual sense wireless Controller and a head set.

    In line with the GFA’s vision to develop all aspects of the sport in Ghana, these equipment have been purchased to prepare the national team for upcoming assignments

    Ghana’s eFootball National Team started from the Main Stage of the competition last year  and were beaten by South Africa who also drew with Palestine and lost to Oman and Lebanon.

    This season, steps have been taken to ensure that our team progress beyond the Play-offs and hopefully qualify to the FIFAe Nations Cup 2023 which FIFAe Football is yet to decide the Host Nation.

    The FIFAe Nations Series 2023 Play-ins is set to commence in December 2022and the FA will communicate the exact date to the general Public Shortly.

  • Cedi nears GH¢11 mark, bureaus sell $1 at GH¢10.98, BoG GH¢9.63 as at Oct. 7

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

    On the Interbank forex rates from the Bank of Ghana today, October 7, 2022, the Ghana Cedi is trading against the dollar at a buying price of 9.6302 and a selling price of 9.6398.

    As compared to yesterday’s trading of a buying price of 9.6302 and a selling price of 9.6398. At a forex bureau in Accra, the dollar is being bought at a rate of 10.75 and sold at a rate of 10.98.

    Against the Pound Sterling, the Cedi is trading at a buying price of 10.7742 and a selling price of 10.7860 as compared to yesterday’s trading of a buying price of 10.8513 and a selling price of 10.8641.

    At a forex bureau in Accra, the pound sterling is being bought at a rate of 11.90 and sold at a rate of 12.25.

    The Euro is trading at a buying price of 9.4677 and a selling price of 9.4772 as compared to yesterday’s trading of a buying price of 9.4978 and a selling price of 9.5082.

    At a forex bureau in Accra, Euro is being bought at a rate of 10.40 and sold at a rate of 10.67.

    The South African Rand is trading at a buying price of 0.5380 and a selling price of 0.5387 compared to yesterday’s trading of a buying price of 0.5401 and a selling price of 0.5404.

    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 45.2257 and a selling price of 45.2382 as compared to yesterday’s trading of a buying price of 45.2776 and a selling price of 45.3679.

    At a forex bureau in Accra, Nigerian Naira is being bought at a rate of 13.00 Naira for every 1 Cedi and sold at a rate of 15.50.

    Source: Ghanaweb

  • Fistfight breaks out over control of Kenya parliament

    Fighting broke out in Kenya’s parliament on Thursday evening following a ruling by the Speaker that broke a deadlock over which coalition has the majority MPs in the house.

    Opposition lawmakers were angered by the Speaker’s ruling that recognised the ruling Kenya Kwanza (Kenya first) coalition with 179 MPs as having the majority.

    The opposition has 157 MPs, the speaker said.

    The crux of the debate was the placement of 14 MPs whose parties were originally in the opposition Azimio la Umoja (Quest for unity) coalition but have since shifted allegiance across the aisle.

    Opposition MPs argued that the constitutional timeline allowing for decamping from coalitions had not yet reached.

    One opposition MP tried to grab the mace – the symbol of parliamentary authority – to express displeasure at the ruling.

    The live broadcast of the session was cut after the fight broke out on Thursday evening.

    Kenyan politics is known to be highly partisan and physical fights are common in parliament.

    Source: Myjoyonline

  • Cybersecurity service providers, professionals to be licenced

    The government, through the Cyber Security Authority (CSA), has started the process of licensing cybersecurity service providers, cybersecurity establishments, and the accreditation of cybersecurity professionals as part of efforts to strengthen Ghana’s cyber resilience in light of the rising rate of cybercrimes worldwide.

    The move, according to the acting Director General-CSA, Dr. Albert Antwi-Boasiako, was necessary to ensure that cybersecurity service providers offer their services in accordance with approved standards and procedures in line with industry best practices. He made this point during a public consultation on the licensing and accreditation framework.

    Dr. Antwi-Boasiako further stated that the licencing and accreditation framework is also aimed at raising the quality of cybersecurity service providers and improving and maintaining standards that offer baseline protection to the systems within Ghana’s digital ecosystem while complying with requirements of the law.

    He said the engagement is meant to solicit inputs from industry players before the framework is submitted to the o CSA board for approval, which is expected to happen before end of the year for full implementation in January 2023.

    By so doing, Dr. Antwi-Boasiako added, confidence will be built in this emerging profession and create more opportunities for skills acquisition, training and development in this critical sector “for our use and to meet the critical skills-shortage in this sector globally”.

    Presenting the draft framework during the public engagement that saw about 100 cybersecurity professionals in attendance, Functional Lead-Legal and Compliance at the CSA, Madam Jennifer Mensah, said despite digital transformation generating a lot of prosperity and wealth for the world economy, cybercrime has increased at a greater rate.

    “The work of cybersecurity establishments, cybersecurity service providers and cybersecurity professionals has been very, very important in securing our digital critical infrastructure and digital services.

    “However, there are some concerns that there may be certain cybersecurity service providers, cybersecurity establishments and professionals who may be less credible and less competent, adopting substandard processes in rendering services to the detriment of Ghana’s digital economy. Hence the need for licencing and accreditation to regulate the industry’s intrusive nature,” she stated.

    “National security considerations are driving regulations in the sector, demanding that all these stakeholders are in good standing. Therefore, there is a need for government to regulate the sector through the Cyber Security Authority to ensure compliance,” she added

    Meanwhile, a directive for the Protection of Critical Information Infrastructures (CIIs) was launched by the Authority on October 1, 2021 to assist CII owners in registering with the Authority and guide them to protect their critical systems.

    And, according to Deputy Communications and Digitalisation Minister Ama Pomaa Boateng during her address at the National Cyber Security Awareness Month launched earlier this week, from January 2023 all Critical Information Infrastructure Owners, whether in the private sector or public institutions, will be required to undergo mandatory compliance checks and audits to ensure the protection of Ghana’s critical systems.

    “This audit and compliance action will be in line with regulations aimed at reinforcing the resilience and response capacities of these institutions against cyber-threats and incidents, as well as to ensuring a resilient, secure economy.

    “This will help protect our critical systems from rising malicious cyber activities in the global landscape. They are also important to assess the adequacy and effectiveness of controls/measures put in place to meet requirements of the law,” she said.

    Designated CII owners who fail to comply with the regulatory measures to protect the country‘s critical databases and systems will be sanctioned in accordance with the Cybersecurity Act, she added.

  • We are proud of you – Samira celebrates Bawumia on 59th birthday

    Second lady, Samira Bawumia, has extended a birthday message to her husband and Vice President, Dr. Mahamudu Bawumia.

    In a Facebook post on October 7, she thanked Allah for the protection and guidance granted to Dr. Bawumia.

    Samira Bawumia added that she and their children were proud of Dr. Bawumia for his commitment to the family and Ghana as a whole.

    She wrote: “Happy 59th birthday, sweetheart @mbawumia. We’re grateful to Allah for protecting and guiding you throughout the years. The kids and I are proud of your commitment to our family and the entire nation”.

    Profile of Dr. Mahamudu Bawumia

    Dr. Bawumia was born on October 7, 1963, in Tamale to the late Alhaji Mumuni Bawumia, former Chairman of the Council of State (1992–2000), and Hajia Mariama Bawumia.

    Born into a large family, Mahamudu Bawumia was the twelfth of his father’s 18 children and the second of his mother’s five. Mahamudu Bawumia attended the Sakasaka Primary school in Tamale and gained admission to Tamale Secondary School in 1975. He was President of the Ghana United Nations Students’ Association (GUNSA) in 1981.

    After graduating from Tamale Secondary School, he went to the United Kingdom where he studied banking and obtained the Chartered Institute of Bankers Diploma (ACIB). He took a First-Class Honours Degree in Economics at Buckingham University in 1987.

    He then obtained a master’s degree in Economics at Lincoln College, Oxford, and obtained a Ph.D. in Economics at Simon Fraser University, Vancouver, British Columbia, Canada in 1995.

    His areas of specialization include Macroeconomics, International Economics, Development Economics, and Monetary Policy. He has numerous publications.

    He became an economist and banker by training and went on to serve as Deputy Governor of the Central Bank of Ghana between 2006 and 2009.

    Dr. Bawumia was running mate to Nana Akufo-Addo in the 2008 and 2012 elections which they lost. He became Vice President on his third attempt with Nana Akufo-Addo after winning the 2016 and 2020 elections.

     

  • Customer-focus key to navigating economic downturn – Bank CEO

    In order for financial institutions in general, and banks in particular, to effectively traverse the current economic slump, there is a need to place increased attention on client demands, according to Nana Dwemoh Benneh, CEO of UMB Bank.

    According to him, offering pertinent goods and services would ensure that consumers channel funds to the institutions when the economy inevitably improves, in addition to helping them in their enterprises during tough times.

    Using UMB Bank as an example, he stated that the introspection done as part of measures marking its 50th anniversary this year showed that its dedicated offerings to customers throughout its transition from a corporate and investment-facing bank to one with a broad SME base, have ensured that the bank has outperformed the market consistently.

    “When we took stock of what has kept this bank going for over five decades, we zeroed in on service. Throughout the years, UMB has always found a way of offering a unique kind of service; service that treats customers in a personal light and strives to churn out products and services that are unique to their circumstances,” he explained.

    “We try to focus on long-term partnerships, and when our customers are impacted and we do not compromise on cushioning them. when the customer begins to thrive and you were there for them, they would, most often than not return to you with their excess fund and we know that ultimately, deposits are derived from successful businesses,” he added.

    Consequently, Mr, Benneh further stated that the bank is committed to leveraging its evident brand equity, and the customer loyalty that comes with it, to build a stronger capital base and balance sheet. This, in turn, will serve to draw in more customers.

    “We realised we have a lot of brand equity and customers who have remained loyal to the bank because of the service we offer them and the opportunities to build on this are massive. We have had to take some of the hits, but now, we are cleaning up, firming our risk assessment and restructuring to do more for our customers.

    “We believe that as we continue to pursue our agenda with unique customer service, we will have enough customers waiting as we expand,” he stressed, adding that interactions with long-term customers leave him rejuvenated, as they continue to see the value offered by UMB Bank.

    The bank remains committed to seeing the national economy transform through industrialisation, Mr. Benneh noted.

    He indicated that the Bank was one of the few in the market that fully supported and invested in the 1D1F initiative. Mr Benneh said that at least 10 institutions under the government’s industrialisation drive – One District, One Factory (1D1F) – have received funding from UMB, and are close to being unveiled.

    “We have at least 10 companies under the 1D1F programme, which are at various levels of operationalisation. We have been with them and we are starting to launch some of them and the expectation is that as we worked with them through the harder times, we will reap the benefits shortly,” he remarked.

    As part of its strategy going forward, UMB Bank will deepen collaboration with FinTech providers, its CEO added. According to him, the bank holds a unique position in the ecosystem as it is well-placed to provide FinTechs with the infrastructure of scale that they lack.

    “Consistent with our investment in technology, we will be partnering more with FinTechs and providing them with the infrastructure they need. We see our role as multi-faceted, not one-dimensional; as the bank to the FinTechs, Aggregators and other stakeholders.”

    UMB is an indigenous Ghanaian Bank, established in 1972. It was set up as a policy bank to provide the Ghanaian state with merchant banking capacity. The Bank has been part of major innovations in Ghanaian financial services, including sponsoring the Ghana Stock Exchange.

  • Court orders CID Boss to provide safety report on alleged bride killers

    A District Court has ordered the Director General, Criminal Investigations Department (CID) to furnish it with an independent report on the safety of persons being held over the murder of a new bride at Abeka.

    Muniratu Moro was murdered a few days after she was married off at Abeka, a suburb of Accra.

    The Kaneshie District Court gave the order whiles delivering its ruling on a stay of execution, pending an appeal filed by the Attorney General.

    The Court on September 22, this year granted bail to four accused persons namely:  lmoro Salifu Zakaria, 44 and Adams Salifu Zakaria both Land Surveyors, Amdiya Mohammed, a 33-year-old trader, and Abass Mohammed, a 27-year-old Labourer.

    They were granted GHS300,000 bail with three sureties to be justified with landed property by the Court presided over by Mr Oheneba Kufuor, a Circuit Court Judge sitting with additional Magisterial duties.

    The Court in its ruling turned down the application for stay of execution pending an appeal.

    It however ruled that it was waiting for the CID Boss’ independent report on the safety of the accused persons.

    It noted that it needed security report on the accused persons because at the last sitting it witnessed the commotion that took place at the court premises.

    Additionally, the Court noted that the case investigator also informed it about the safety of the accused after the grant of bail.

    Lawyers for the accused however indicated that if the case investigator provided the Court with the safety report on the accused, he could prejudice the said report hence it wanted an independent report from different police officer or the Regional Crime Officer.

    According to the Court, the accused persons could not continue to be on remand forever.

    It said the State could go ahead and file its appeal at the High Court within the 14-day period.

    At the last sitting, the Attorney General Office represented by Mr Adu Gyamfi, a State Attorney, had argued that since the Court had no jurisdiction to try the case, it also had no jurisdiction to grant bail.

    Defence Counsel for the accused persons held the opinion that once the Court had power to remand the accused persons, it also had the power to grant bail.

    The accused persons are standing trial for the murder of Muniratu Moro who was recently married as a second wife.

    On August 28, this year Police say, before the marriage of the deceased, Salifu and Amdiya had disagreement over the deceased becoming a second wife.

    Days after Muniratu was married off, she was found stabbed several times.

    Police investigations led to the arrest of the accused persons.

    They have been charged with conspiracy to commit crime to wit, murder, and murder.

    The District Court has preserved their pleas.

    The matter has been adjourned to October 20.

    Source: GNA

  • Ghana Cedi is worst performing currency against US dollar – World Bank report

    Recent months have seen a sharp devaluation of the Ghana cedi against major trading currencies, particularly the US dollar.

    A World Bank report designating the Ghana Cedi as the worst-performing currency in Africa relative to the US dollar has added to the problems of the local currency.

    According to the Africa Pulse Report, as of September 19, the cedi had declined by 60% versus the dollar.

    The report which tracked growth prospects and threats to African economies in 2022, also classified Ghana as a debt-distressed country with a debt-to-GDP ratio expected to surpass 100% by the end of the year.

    Explaining why their depreciation rate is higher than the widely reported 40% figure, Accra-based Joy News report that the bank confirmed to them in an email correspondence that, “it used a different methodology to track the FX rate of depreciation from the beginning of this year to September 19 2022.”

    That is why the World Bank arrived at the 60 percent rate of depreciation, compared to 40 percent if you are working with a 6.17 rate on December 31 and 10.09 in September 2022, the Joy News report added.

  • Galamsey fight: Jail Frimpong Boateng, Wontumi, Bissue, others – Sammy Gyamfi tells Akufo-Addo

    National Communications Officer of the National Democratic Congress, NDC, Sammy Gyamfi has charged President Nana Addo Dankwa Akufo-Addo to prosecute persons within his inner circles who are engaging in galamsey to show that he is committed to the fight.

    Speaking at a press conference on Thursday, October 6, he noted that the government is being rhetorical rather than cracking the whip on its own officials who are engaging in illegal small-scale mining, that is galamsey.

    “Ghanaians are tired of your flowery speeches and useless rhetoric. The so-called fight against ‘galamsey’ has been a spectacular failure and the only way to salvage it is for you to man up and finally begin to crack the whip on your errant appointees and NPP functionaries who are neck-deep in the ‘galamsey’ business.

    “We demand the immediate prosecution of all NPP functionaries and NPP officials who have engaged in illegal mining such as Charles Bissue, Chairman Wontumi, the evidence is clear, Andy Owusu, Ekow Ewusi, Prof. Frimpong Boateng among others,” Sammy Gyamfi said.

    He observed that if President Akufo-Addo takes action, it will serve as a deterrent for other party officials and appointees.

    He alleged that the President and the Minister of Lands have resorted to “shifting the blame on Chiefs and MMDCEs”.


    He added that the attempt by President Akufo-Addo to blame the Chiefs is “shameful and must be condemned”.

    “No attempt to shift or share blame for his failed ‘galamsey’ fight would wash. He was the one who put his presidency on the line and he would be held responsible for the failed fight,” Sammy Gyamfi stressed at the press conference.

    It appears that Ghana is losing the fight against galamsey as the various water bodies in the country have been polluted with the colour of the water turning milky brown.

    President Akufo-Addo at a meeting with chiefs in the Ashanti region on Wednesday, October 5, admitted that the fight against Galamsey has not been an easy one and vowed to deal with persons within his government who may be found complicit in illegal mining activities.

    The President said the government has for several years been struggling with the fight against ‘galamsey’, hence government officials cannot continue to compromise efforts against the menace.

    “I am not here to threaten anybody, but I want you to know that this is a struggle that I take very seriously and I will not be in a position to protect anybody against whose evidence is messed up about their complicity in this matter…I am a lawyer and I always deal with facts and when the facts are brought against you, you will be invited to comment on them.
    “If the response is not satisfactory, you can guess to yourself what the consequences will be,” the President said.

    He also admitted that Ghana’s fight against illegal mining has so far not been successful.

    “Since I took office on 7th January 2017, nearly 6 years ago, I have made it the central feature of my presidency to lead in the efforts to rid our country of this menace which we all now call ‘galamsey’.

    “Indeed, it was an important aspect of my inaugural address of that day. It has not been easy, it has not been popular, but we have not got the immediate result that I was looking for,” President Akufo-Addo said.

     

  • Some farmers laud government for 21% increase in producer price of cocoa

    Ghanaian cocoa farmers have praised the Producer Price Review Committee’s announcement of a 21% rise in the producer price (PPRC).

    The producer price of cocoa, which accounts for 89.99% of the net FOB value, has increased by 21%, from GH660 per 64kg bag (GH10,560 per tonne) to GH800 (GH12,800.00 per tonne), according to the Producer Price Review Committee (PPRC).

    On October 7, 2022, the new price becomes effective.

    “The 21% rise in the producer price of cocoa is a testament to Government’s resolve to ensure farmers earn a decent income and make cocoa farming lucrative. Government will continue to implement initiatives to build a robust, resilient, and sustainable cocoa industry where cocoa farmers and their communities will thrive”, the Minister of Agriculture, Dr. Akoto Afriyie said at a press conference in Accra yesterday.

    Read Also: Cocoa price up by 21%; 64kg bag now GH¢800 from GH¢660

    Speaking on Atinka FM’s AM Drive with host Kaakyire Ofori Ayim, the 2018 National best farmer, Charles Gyamfi commended government for increasing the producer price of cocoa despite challenges in the economy.

    According to him, this shows that government is concerned about the welfare of cocoa farmers.

    “We welcome the new price and I must say cocoa farmers are grateful to government and COCOBOD for the new price. We were even expecting GHS750 and so we are grateful for the GHS800,” Charles Gyamfi said.

    The 2018 National Best Farmer, Charles Gyamfi, also asked cocoa farmers who smuggle their produce to sell in Côte d’Ivoire to consider the fact that COCOBOD produces free cocoa seedlings and fertilizer for them and desist from the act.

  • ‘ECG has not agreed to any percentages with Hubtel’ – ECG MD

    The Electricity Company of Ghana (ECG) has reacted to speculation that there was an attempt to hand over the ECG App to Hubtel Company Limited at a service fee of four percent.

    The Ranking Member on Parliament’s Mines and Energy Committee, John Jinapor had alleged that there were plans to hand over the management of the ECG App to Hubtel Company Limited and that the Minority in Parliament was willing to pursue the allegation.

    Mr Jinapor had said the Minority has received reports that Hubtel Company Limited would be charging a service fee of four per cent when the ECG App is handed over to the company.

    “Handing over the App that was developed by the ECG IT team itself that sells power at no cost, is it true they are handing over that App to a company called Hubtel to charge a service fee of four per cent or not? That is what we are picking up,” Mr Jinapor said.

    ECG MD reaction

    But reacting to it at a press conference in Accra on Thursday (October 6, 2022), the Managing Director of ECG, Samuel Dubik Mahama denied agreeing on any percentages with Hubtel.

    “ECG hasn’t agreed to any percentages with Hubtel.”

    “ECG said, you [Hubtel] say you can do something, proof your concept, if your concept works, what do we do, we agree to it then we see that we talk about it, if your concept doesn’t work, you step aside, then we move away.”

    “So ECG has a proof of concept understanding with Hubtel,” the MD explained.

    He added: “It is quite sad that in this day when we have the Right to Information Bill [Law], where you can get access to information when you hear gossip, you choose to run with gossip. It is not fair to some of us, it is actually very painful because you end up allowing and drawing attacks unto us, especially me [MD].”

    Mr Mahama said some of the things that have been coming his way are “very scary, I’m just a human being too. I’m just here to conduct a service for mother Ghana. I am helping ECG to fix its loopholes. No need for us to start conjecture or start a gossip rumour that will lead to people personally attacking me.”

    “I am not here to ransack the company, so please, my doors are always opened, ECG hasn’t attempted, will not attempt, until the proof has been, there must be proof of that said concept, what I will do for myself privately, I should be able to do for ECG.”

    The ECG MD said he will not take a whole national security asset and “dump it like that”.

    “Again, I must repeat, there is no contract with Hubtel. It is at a proof of concept stage, they are attempting to prove their concept, if they are successful fine, if they are not, we will look for other solutions,” he added.

    Source: Myjoyonline

  • Ghana is ‘an island of religious calmness in a sea of turbulence’ – Mahama

    Former President John Dramani Mahama underscored the role of religious co-existence in bolstering Ghana’s peace in a lecture delivered at an American University on October 5. 2022.

    As a special guest of honour at the 2022 Liberty University Convocation in Michigan, the 2020 NDC flagbearer delivered a speech to a packed auditorium.

    He described Ghana as “an island of religious calmness in a sea of turbulence,” citing how “almost all our surrounding neighbours have in recent times experienced some major form of insurgency, coup d’etats or other conflicts, including religious conflicts.”

    Mahama explained the situation in Ghana’s northern neighbours, Burkina Faso and Mali, where insurgents are running roughshod.

    He further cited the case of Boko Haram in Nigeria and how their activities are far from the variant of Islamic jihad that they professed.

    He said Boko Haram “is a terrorist group that operates mainly in Nigeria and around the Lake Chad region. This terrorist group gained world infamy when they abducted over 200 girls from a secondary school in a town called Chibok.

    “Many of these groups lay claim to a puritanical concept of Islamic jihad. But the fact that they are indiscriminate over who they attack, including killing their own fellow Muslims, gives us an indication of the extent of their perversion,” he stressed.

    “There are also ISIS and bandits operating in the Sahelian region,” he added before stressing the need for leadership at all levels, the family, school, church, and government with the view to taking responsibility to inform youth about threats out there.

    Governments, John Mahama noted, must guarantee peace and security and avenues to combat youth unemployment so that youth don’t become easy recruits due to frustration and lack of opportunity.

    Boko Haram is a terrorist group that has for over a decade been operating across Nigeria but predominantly in the Northeastern states of Borno, Yola and Adamawa.

    Their operations also extend across the Lake Chad region, that is northeastern Nigeria, parts of Niger and Chad as well as the far north region of Cameroon. A Joint Multinational Taskforce has largely tried to deal with its cross-national threats.

  • Fuel prices likely to go up following reduced global supply

    Prices of petroleum products are likely to go up in the coming weeks due to a reduction in oil supply on the global market.

    This is because the Organization of the Petroleum Exporting countries plus (OPEC plus), has announced a cut in production by two million barrels a day.

    The slightest change in the price of crude oil has enormous effects on economies around the world.

    Particularly for emerging economies like Ghana, when crude prices go up, the distress is felt almost across all aspects of the economy.

    According to current estimates, the Organisation of Petroleum Exporting Countries (OPEC) controls about 80% of the world’s oil reserves, producing about 30% of the world’s consumption a day.

    OPEC is made up of 23 countries but In 2016, when oil prices were particularly low, OPEC joined forces with 10 other oil producers to create OPEC.

    This group of 23 oil-exporting countries meets regularly to decide how much crude oil should sell on the world market.

    On October 5, 2022, members of  OPEC agreed to cut production by two million barrels per day.

    The cut which will take effect from November represents around 2% percent of the global oil supply and is more than initially anticipated.

    According to Forbes, many oil & gas stocks have been trending lower since mid-2014, there are suggestions that as the world moves towards clean energy producers of fossil fuel will be affected in the long-term.

    This many believe is one of the reasons OPEC is seeking to cut production to drive up the price of crude back up from the $90 per barrel it’s currently selling.

    The US has criticized the move and is expected to increase its own production to help the situation, but Duncan Amoah of the Chamber of Petroleum consumers says this may not be enough and Ghanaians should brace themselves to pay higher rates at the pumps.

    “Overall, prices are likely to bounce back over the US$100 region with these announcements. What that means for countries like Ghana is simply to get prepared to pay more for oil. Not only that, the persistent depreciation of the cedi together with OPEC is preparing to do will push us into tougher times.”

    Mr. Amoah again suggested some decisions government can take to cushion consumers against the expected rise in petroleum products.