Vice-President Dr Mahamudu Bawumia has stated that some analysts and commentators have misinterpreted Ghana’s stated policy of using gold reserves to pay for oil as an attempt by Ghana to move away from the US dollar for international transactions.
Speaking at the 2022 AGI Awards in Accra, Dr Bawumia noted that on the contrary, Ghana’s gold for oil programme will give Ghana the space to accumulate more international reserves as the country will save the $3 billion it spends on oil imports.
He further stated that the use of gold was specifically for oil imports in the face of declining foreign exchange reserves.
“Unfortunately some people have misinterpreted this as Ghana being against the use of the US dollar in international transactions. Far from it. We want to accumulate more US dollar reserves in the future”, the Vice President noted.
Vice President Bawumia noted that a major source of cedi depreciation has been the demand for forex to finance our import of oil products and to address this challenge, Government, he said, is negotiating a new policy regime where sustainably mined gold will be used to buy oil products.
”If we implement the gold for oil policy as it as envisioned, it will fundamentally change our balance of payments and significantly reduce the persistent depreciation of our currency with its associated increases in fuel, electricity, water, transport and food prices.”
This, he noted, is because the exchange rate (spot or forward) will no longer directly enter the formula for the determination of fuel or utility prices since all the domestic sellers of fuel will no longer need foreign exchange to import oil products,” Dr. Bawumia said.
Speaker of Parliament, Alban Bagbin believes that Finance Minister Ken Ofori-Atta will take a cue from the ordeal suffered over the past few weeks.
Between a censure motion from the Minority and a decision by the Majority to kick him out of office, Mr Bagbin is sure that Ken Ofori-Atta has picked lessons for the future.
Ghana is currently at the doors of the International Monetary Fund (IMF) for a possible $3 billion bailout amidst intensifying hardship, skyrocketing fuel prices, a rising cost of living and a depreciating cedi.
Ghanaians are reeling under this condition and have been calling for a pragmatic solution.
The Minority MPs insist that Ken Ofori-Atta, in this regard, has lost his grip on the country’s economy and must be axed.
Beyond that, majority of NPP MPs in the House are pushing for his removal, triggering crunch-time interventions from the party caucus and President Akufo-Addo.
With all these developments, the Speaker says Ken Ofori-Atta has learnt in a hard and unprecedented way.
“As he sits here, he has learned a bitter lesson. It is uncommon to come across members of your own party rise up in Parliament against your own minister. It’s uncommon,” he said on Sunday .
Members of Parliament will this week debate the 2023 budget statement presented last week and the Speaker of Parliament has a warning for government.
He cautioned government against using sheer bravado to push through their revenue measures, instead he thinks dialogue with the opposition may yield a common ground.
The Speaker says anything other than this will lead to acrimony and conflicts which will not augur well for the economy.
Meanwhile, the House awaits the report from the committee that probed the motion to subject Mr Ofori-Atta to a vote of censure.
Ghana’s Cardinal, His Eminence Cardinal Richard Kuuia Baawobr has died at age 63.
According to a statement issued by the Secretary General Missionary Of Africa, the Cardinal passed away on Sunday, November 27.
“Our confrere was taken by ambulance from the Generalate to the Gemelli Hospital at 5.45pm and we received the sad news at 6.25pm. May Richard rest in the peace of his Lord whom he so generously served,” parts of the statement read.
The Secretary General further commiserated with the late Cardinal’s family, diocese, his fellow bishops, and his friends.
Cardinal Kuuia Baawobr was hospitalised in August at the Santo Spirito Hospital in Rome shortly before the Vatican ceremony in which he was to receive a red biretta from Pope Francis.
He underwent a heart surgery during the period and was discharged on Friday, November 18 from Agostino Gemelli University Hospital/Policlinic where he had been transferred to on Saturday, October 15.
The 63-year-old received the title of cardinal while being treated in the Roman hospital. Pope Francis asked people to pray for Baawobr at the end of his homily for the consistory.
Baawobr was recently elected head of the African bishops’ conference, the Symposium of Episcopal Conferences of Africa and Madagascar (SECAM), at the end of July.
He has led the Diocese of Wa, in northwest Ghana, since 2016, and is known locally for his charity and care for people with mental disabilities in a country where the stigmatization of mental illness is still high.
Six years ago he launched a diocesan street ministry that brings together parish volunteers and health care professionals to provide care and medical assistance for people with mental disabilities who have been abandoned by their families.
A former legislator, Fuseini Issah, has called on Ghanaians to be patient with the 2023 budget and the new policies announced in them.
While he believes the budget largely meets the needs of Ghanaians, Mr. Issah assured that the government would be open to feedback on its new policies.
“You try to implement it [policy], you get feedback, you put the feedback into the system until you perfect the policy,” the former MP said on The Big Issue on Citi TV.
“It is not the case that every policy, right on the onset, we are going to get right. It is a process, but what we need to do is put in the feedback and perfect the policies over time.”
“So these are really evolving things that we should be looking at as a nation,” Mr. Issah added.
Among the new policies proposed in the budget, which is likely to be implemented under an IMF programme, will be a freeze on public sector employment and new tax measures as the government moves to cut down expenditure and boost revenue.
Among the notable proposals, the Electronic Transfer Levy headline rate is to be reduced to 1 percent, Value Added Tax will be increased from 12.5 percent to 15 percent, the benchmark discount policy is to be fully phased out in 2023 and an additional income tax bracket of 35 percent is to be introduced.
President Nana Addo Dankwa Akufo-Addo has urged the citizenry to work hard to ensure Ghana keeps the prevailing peace and security to propel economic development.
He said those two ingredients were what investors looked out for in a country before investing their resources and that Ghana already had them, making the country an attractive investment destination, hence the need to protect same.
The President said this in a speech read for him by Mr Ambrose Dery, the Minister of the Interior, who represented him at the 25th Anniversary of the coronation of Torgbui Adzonugaga Amenya Fiti V, the Paramount Chief of Aflao, and the climax of the Godigbe Festival.
The festival was on the theme: “25 Years of Inspirational Leadership and the Restoration of the Rights and Privileges of the Aflawuawo.”
“The existence of peace and security are necessary prerequisites for economic development of the country. Ghana as a country has been blessed over time to remain stable and peaceful,” he said.
“For the last two consecutive years, Ghana has been noted as the second most peaceful country in Africa, behind the Island of Mauritius… I wish to, therefore, call on all of you to join hands in a collective effort to ensure that Ghana continues to be peaceful and safe for us all to achieve the goals of government.”
President Akufo-Addo commended the security agencies for their roles in keeping the peace and security of the country and assured them of providing them with all the necessary logistics to facilitate their work, and expressed the government’s commitment to the well-being of Ghanaians.
The government’s bold but difficult decisions had resulted in some gains, he said, notwithstanding the current challenges, adding that government would work to bring the country back to the road of prosperity.
The Godigbe Festival of the chiefs and people of Aflao and the coronation anniversary had former President John Dramani in attendance, as well as a delegation of chiefs from other parts of Ghana and the republics of Togo and Benin. They were treated to exciting cultural displays and music.
By a unanimous decision, the Oslo Court of Appeal, Norway composed of three Justices of Appeal (Pal Morten Andreassen, Irene Sogn and Rolf Ytrehus), has in a judgment dated Tuesday, November 22, 2022, dismissed an appeal filed by Messrs. Jongsbru AS, the sellers of a property identified by the Republic of Ghana for use as a chancery building in Oslo, Norway.
The Norway Court of Appeal considered an appeal by the appellant against the judgment of the Oslo District Court (High Court) in December 2021, dismissing its case and awarding damages and procedural costs in favour of Ghana.
After a retrial, the Oslo Appeal Court held Ghana to be “fully acquitted of all liability” and concluded that “a purchase agreement to which Ghana was a party could not be said to have been completed between the parties”. The Court awarded the sum of 1.5 million Norwegian Kroner (approximately 150 000 USD) payable by the appellant to Ghana as procedural costs incurred before the Court of Appeal. It further ordered the appellant to pay to Ghana 1 million Norwegian Kroner (approximately, 100 000 USD) as compensation for procedural costs at the High Court.
Facts of case
In 2018, Ghana decided to establish an embassy in Norway. The acquisition of a chancery building, either by purchase or by a lease, was deemed to be critical to the establishment of the embassy.
A delegation from Ghana identified a number of properties, including Sigyns Gate 3 at Frogner in Oslo, the property the subject matter of the litigation. On 22nd November 2018, Ghana received an offer from Jongsbru to buy the property for 100 million Norwegian Kronner. The offer had a deadline of seven days, i.e. by 29th November, 2018. On 29th November 2018, Ghana’s Charge d’Affaires, Regina Appiah-Sam, responded to Jongsrbu’s offer in these terms:
“On behalf of the Government of Ghana, Ministry of Foreign Affairs, we have the pleasure to accept the Offer with the following conditions:
1. … It is a condition for the acceptance of the Offer and the final contract, that the building is without significant defects and that the renovation work is completed and performed in a satisfactory manner.
2. Before take-over there is a final approval without conditions from relevant authorities for the use of the property as an Embassy.
3. Agreement on a final contract of sale. We accept that the contract shall be based on the Sem & Johnsen standard contract.”
Subsequent to due certification by Ghana’s appointed valuers that the building was without significant defects and that the renovation works on same had been completed and performed in a satisfactory manner, Ghana pulled out of the transaction on various grounds, including a failure on the part of the sellers to satisfy the condition of a final approval from the relevant Municipal authorities in Oslo for the use of the property as an Embassy.
The sellers of the property, Jongsbru AS, sued the Government of Ghana in the Oslo District Court claiming sums totalling about seventy-eight million Norwegian Kroner for breach of contract, loss of profits, interest and costs of litigation.
Original judgment of the District Court (High Court)
On 16th December 2021, the Oslo High Court upheld Ghana’s contention that on the issue of choice of law, the competence or legal capacity of Ghanaian officials to bind the Republic of Ghana must be decided according to Ghana law. Whereas the Government of Ghana had led evidence by the Director of the Legal Directorate of the Ministry of Finance to prove the content of Ghana’s financial and procurement laws, no attempt was made by the plaintiff to rebut same.
The Court found that Ghana’s Minister for Foreign Affairs, in accordance with section 20 of the State Property and Contracts Act of 1960, had the competence to bind Ghana in agreements involving her ministry.
This authority had not been exercised in the transaction in question. Neither the Charge d’Affaires of Ghana at the time, Mrs. Appiah-Sam nor Ghana’s lawyer, Mikkel Visllie had authority to enter into the agreement on behalf of Ghana. There was thus no valid or binding agreement between the sellers of the property and Ghana.
The Court further held that under Ghana law, the Public Procurement Authority must agree on the purchase of the property and the application of funds must also be approved by the Minister for Finance, before the Minister for Foreign Affairs must either personally execute the agreement for the purchase of the property or authorise another competent person by a power of attorney to execute the agreement. On the evidence provided by Ghana’s witnesses, this had not been done.
Regarding the claim against Ghana’s lawyer at the time of the purported sale, the Court found that the lawyer was fully responsible for the positive contractual interest in accordance with the Contracts Act of Norway. The Court was of the view that there is a particular reason for trusting lawyers who act on behalf of clients.
The Court found that the lawyer did not have any reasonable excuse for not ensuring that there was a power of attorney signed by Ghana before purporting to convey acceptance of the offer by Jongsbru. The Court thus ordered lawyer Mikkel Vislie who acted for Ghana and his insurance company, Tryg Forsikring to pay to Jongsbru the sum of thirty-seven million, seven hundred and twelve thousand, nine hundred and four Norwegian Kronner as compensation.
Appeal hearing
The Oslo Court of Appeal heard the appeal over four days – from 25th to 28th October, 2022, taking evidence from the witnesses of all the parties in the matter afresh. The hearing was observed by students of the Oslo Law School as part of their practical advocacy training.
Ghana’s Attorney-General, Mr. Godfred Yeboah Dame, led a team from Ghana for the hearing. Mrs. Jennifer Lartey, Ghana’s ambassador to Norway, Mrs Regina Appiah-Sam, Charge d’Affairs at the time the embassy was opened, Charles Osei-Marfo of the Oslo mission, Ms. Doris Brese, Ministry of Foreign Affairs and Mrs. Mangowa Ghanney, former Director, Legal at the Ministry of Foreign Affairs, testified as witnesses for Ghana.
Judgment of the Oslo Court of Appeal
The Oslo Court of Appeal dismissed the appellant’s case in its entirety as unfounded and ordered to pay to Ghana 1.5 Million Norwegian Kroner (approximately 150 000 USD) as compensation for procedural costs incurred before the Court of Appeal. It further ordered Jongsbru to pay to Ghana 1 Million Norwegian Kroner (approximately 100 000 USD) for procedural costs incurred before the Oslo District Court.
The Court of Appeal observed that a prerequisite for the appellant’s claim was that the company had incurred economic loss as a result of Ghana’s decision not to finalize the sale. The appellant did not incur any such economic loss. On a proper application of the principles of offer and acceptance, Ghana could have withdrawn from the agreement (even if it was binding), as all conditions necessary for the performance of the contract had not been satisfied.
Regarding Ghana’s defence about a lack of approval by the Oslo Municipal authorities for the building to be used for an embassy, the Appeal Court found that based on the evidence presented by Ghana concerning the appellant’s belated attempts to apply for the said permission and the municipality’s responses, it was clearly established that no such permission would have been received by the relevant date for the contract to take effect, and therefore Ghana could have withdrawn from the agreement. The purchase would in no case have materialised, and the appellant would not have received the purchase price from Ghana, for a claim of economic loss to be validly asserted.
The Oslo Appeal Court noted further, that, the condition regarding authorization by the municipal permission to use the property as chancery, was vital to the purchase, and that, only Jongsbru, not Ghana, had any control over whether the condition would be met or not. Further, the consequences of the condition not being met, was set out specifically in the agreement.
The Attorney-General and Minister for Justice expressed satisfaction with the outcome of the appeal and hoped that it would mark the end of the dispute. Mr. Dame explained that, under Norwegian civil procedure rules, any civil judgment of the Court of Appeal may be appealed to the Supreme Court but the hearing of the appeal is not as of right.
A panel of three Supreme Court judges must first determine whether to allow the appeal to be heard by the Norway Supreme Court and explicitly allow same to be heard, before the court will be required to consider or hear it and then proceed to give a judgment on it.
“If the panel does not allow the appeal to be heard, the appeal terminates without any further processes at the Supreme Court. The ground on which the Norwegian Supreme Court will hear an appeal is where a new and major issue of law is raised in the matter and the court feels obligated to give legal clarity on the position. The Norway Supreme Court does not hear an appeal on matters concerning the facts or evidence in a civil matter,” Dame concluded.
The Mayor of Accra, Elizabeth Kwatsoe Tawiah Sackey has appealed to stakeholders in the movie industry to consciously mentor the young and upcoming talents for a sustainable movie industry.
According to her, to create a generation of great actors who can sustain themselves in the industry, stakeholders must mentor upcoming talents.
The Mayor said this on Saturday, at the opening of the Spanish Film Festival held at the Omanye Aba Hall at the Accra Metropolitan Assembly (AMA).
The Spanish Film Festival which is being organized by the Embassy of Spain in Ghana in collaboration with the Ministry of Tourism, Arts, and Culture sought to revive the creative art industry, particularly the movie sector, and forge a mutually rewarding relationship between Ghana and Spain.
“I am so pleased that all of you have contributed to maintaining the film industry, and I believe that much more can be done… To assist us to create a generation of great actors who can sustain themselves in the industry, I implore you to continue to help perfect their craft and manage the affairs of the young stars coming up,” she said.
She expressed joy at efforts by key players in the filmmaking industry to improve the sector and stressed the need to leverage the existing relationship between Spain and Ghana to address through movies, issues of violent crime, climate change, youth unemployment, and irregular migration.
“I am also excited that the Ministry of Tourism, Arts and Culture and other relevant stakeholders who mattered in the value of the creative arts chain have all gathered here this evening to forge a closer alliance for the mutual development of our film industries, ”
She used the opportunity to call for collaboration between the two countries to project their cultural values whilst expressing the AMA’s readiness to work with the Spanish embassy to address developmental issues in the city of Accra.
Some personalities who graced the festival include the Deputy Minister for Tourism, Arts, and Culture, as well as players in the Ghanaian movie industry among others.
The festival began on November 19 in Accra with the showing of a film titled Las Niñas (The Schoolgirls) and will travel to Kumasi and Tamale before coming to an end on Thursday, December 8.
Other films which will be screened include Yuli which shows tomorrow, November 25, at the Centre for National Culture(CNC), Kumasi at 6 pm, and on December 2, Alliance Francaise, Kumasi, will treat patrons to Un Novio Para Yasmina(A Boyfriend for Yasmina) at 5 pm.
Renowned investigative journalist, Anas Aremeyaw Anas, has refuted dismissed allegations of extortion and blackmail against him after releasing his latest exposè the “Galamsey economy”.
A statement signed by the Ghanaian journalist said “some persons have resorted to mudslinging and lies” against its CEO Anas following the release of the undercover documentary that led to the dismissal of a Minister of State at the Finance Ministry, Charles Adu Boahen.
Mr Adu Boahen was sacked after the investigative prior to the airing of the investigative piece. He is currently the subject of an investigation by Special Prosecutor Kissi Agyebeng.
“Tiger Eye PI notes, that, these are antics by the perpetrators of corruption and their collaborators, to distract from the facts of our recent exposé…we challenge anyone with evidence of crime against Anas Aremeyaw Anas, to without hesitation, make same available to the relevant state authorities.”
“To reiterate without equivocation, Tiger Eye PI has NEVER, either through its agents or third parties, demanded monies from persons busted by Tiger Eye PI in the cause of our work, including the Number 12 and Galamsey Fraud exposés for the stories to be dropped.
“Per the internal operating procedures and integrity mechanisms within Tiger Eye, it’s IMPOSSIBLE for any of our agents to demand bribes to drop a story. The sheer frivolity and incoherence of these allegations have been exposed times without number by Tiger Eye PI.”
Below is the full statement:
TIGER EYE RESPONDS TO ALLEGATIONS OF EXTORTION AND BLACKMAIL
Following the release of the Galamsey Economy exposè which focused on exposing the pervasive rot that is affecting the economy and investor confidence in Ghana, some persons have resorted to mudslinging and lies against the CEO of Tiger Eye PI, Anas Aremeyaw Anas. A video, made up of rehashed allegations from 2018 have been circulated on social media networks and other messaging platforms. Tiger Eye hereby responds to the contents of the said video, containing details which we have refuted on countless occasions.
Tiger Eye PI dismisses all the allegations including extortion and blackmail against Anas Aremeyaw Anas. These allegations are imagined and fabricated, with no basis in reality. Tiger Eye PI notes, that, these are antics by the perpetrators of corruption and their collaborators, to distract from the facts of our recent exposé. It also merits the question: why do such allegations only surface when there is an exposé?
In the said video, Mr Kwesi Nyantakyi’s wife is seen and heard, sometime in 2018 on Metro TV, alleging that some persons had contacted her husband to pay some amount of money ($100,000) in order to drop the #12 exposé. When this allegation was first made, Anas Aremeyaw Anas challenged Mr Nyantakyi and his wife to sue him or whoever did what they’re alleging, or report him/her to the police for extortion if they think their stale allegation is true (https://mobile.ghanaweb.com/GhanaHomePage/NewsArchive/Sue-me-for-extortion-blackmail-if-I-asked-for-100k-bribe-Anas-dares-Nyantakyi-s-wife-703414). It’s however important to note that, she, as well as the trumpeters of the said allegation, fail to mention anyone’s
name. As we speak, Mr Nyantakyi is standing trial for fraud and corruption. If this allegation were true, it would be absurd that he would not go any length to put whoever made those demands for bribes before the law especially when through Tiger Eye’s anti-corruption operations, he has lost his job.
It’s important to note that, the champion of these spurious allegations, Mr Kennedy Agyepong (also seen in the video), who splashed the photos of the late Ahmed Suale on his NET 2 TV prior to his assassination, is in court with Anas Aremeyaw Anas in a defamation suit. When he challenged the professional integrity of Anas as a lawyer at the General Legal Council, he was handed a defeat. Again, he has already lost the first round of defamation suit against him by Mr Abdul Malik Kweku Baako, where the court found his allegations to be unfounded and empty.
In the video, portions show Mr Charles Bissue’s false claims. Tiger Eye refuted his false claims recently, extensively. (https://www.myjoyonline.com/full-text-anas-vs-charles-bissue-on-galamsey-deals/). We reiterate that those claims of demands for bribes to drop the Galamsey Fraud exposé, are false and without merit.
It’s interesting that whenever these claims are made, those alleging fail to mention specific names nor produce evidence to buttress their claims. They don’t also take bold steps to report such things to law enforcement agencies for them to be dealt with per law. This should alert every watcher, that, these claims are wanton and must be treated as such.
In the video, a man in a cornrow whom another claimed was Anas, was being accused of land grabbing. On humanitarian grounds, we wish to iterate that circulating videos of persons and tagging them as ANAS could put innocent persons at risk as they might get caught up and targeted in a case of mistaken identity. We further wish to state for the record that Anas Aremeyaw Anas, CEO of Tiger Eye has NEVER forcefully or illegally dispossessed anyone of his/her land and hasn’t been involved in an altercation as being purported. No court has found him guilty of illegal land expropriation.
Tiger Eye is fully aware that this particular allegation is being championed by one Kweku Annan who was sacked from NET 2 for professional misconduct. Suffice to say, Kweku Annan was exposed by Tiger Eye demanding bribes to spew lies about Anas Aremeyaw Anas (https://www.adomonline.com/fallout-from-12-radio-broadcaster-admits-taking-money-accuses-anas-of-bad-faith/). Subsequently, Tiger Eye took him to the National Media Commission (NMC) for redress on his allegations (https://www.graphic.com.gh/sports/sports-news/video-anas-petitions-nmc-to-investigate-hot-fm-presenter-for-unethical-media-practice.html), where he couldn’t substantiate a single claim, leading to the issuance of a restraining order against him by the NMC. Once again, we challenge anyone with evidence of wrongdoing in the nature of unlawful expropriation of lands to proceed to the appropriate State agency for further action.
To reiterate without equivocation, Tiger Eye PI has NEVER, either through its agents or third parties, demanded monies from persons busted by Tiger Eye PI in the cause of our work, including the Number 12 and Galamsey Fraud exposés for the stories to be dropped. Per the internal operating procedures and integrity mechanisms within Tiger Eye, it’s IMPOSSIBLE for any of our agents to demand bribes to drop a story. The sheer frivolity and incoherence of these allegations have been exposed times without number by Tiger Eye PI.
Tiger Eye PI, has at all times, after its investigations, taken extra steps to assist relevant State authorities to investigate the findings of our investigations. Anas Aremeyaw Anas has testified in courts, has been cross examined, and has been a subject of multiple suits for his works. None of these suits, since the over two decades of dedicated service to uncover crimes, has been successful.
We challenge anyone with evidence of crime against Anas Aremeyaw Anas, to without hesitation, make same available to the relevant State authorities.
Tiger Eye PI remains unwavering in its commitment to fight graft and crimes using sting operations (Anas principle), and absolutely nothing, be they threats or baggage of spurious allegations, will stop us from holding duty bearers accountable in the interest of God and Country.
A Volta Regional Environmental Health Officer, Stella Kumedzro has urged households in the region to strive to own toilets as a grace period for doing so is about to end.
The Environmental Health Department in the region is shifting the timelines for the implementation of a planned prosecutorial regime that would eliminate dependence on public toilets by ensuring each home had a decent facility.
This had become important as the region advance in status with several districts being elevated into municipals, while its tag as a tourism hub continue to grow in prominence.
The environmental health head, who was engaging the Ghana News Agency on the sidelines of the World Toilet Day Celebration, said household latrines would lose their pressure and be made more fitting and available for visitors.
Madam Kumedzro said the Region, therefore, needed to do more to increase sanitation coverage beyond the present 54 per cent, and that lots would be cast in enforcing household latrine ownership.
“The Regional Environmental Health Department advises the public, especially in the Volta Region, to use this grace period to construct and use household latrines. Enforcement and prosecutions will start soon.”
She said the Department would clamp down on improper waste management and disposal, as it moved to protect water and other natural resources.
“Cesspool emptiers discharging at unauthorized places would be dealt with. Landlords that construct sceptic tanks into public drains would be dealt with. We would be protecting our groundwater.
‘As a responsible landlord, father, citizen, we need household toilets. Household toilets come with handwashing facilities. Lets all use safe and hygienic toilets to stay healthy.”
She noted the global daily death toll from poor sanitation, which stood at 4,500, while two thirds of worldwide OPD cases remained sanitation related.
It also claims 58 per cent of deaths among children under five years globally.
“If we can manage our excrement, cut down on our waste, and enhance healthy living and wellbeing… toilets mean safety, toilets mean security. Toilet is convenient and toilet is dignity. Own one and use one.
This year’s World Toilet Day was held on the theme “Making the Invisible Visible,” and the regional office highlighted the celebration with the award of a certificate to the Mawuli Estates in Ho for becoming a first open defecation free community in the Municipality.
The award comes under an Urban Sanitation Program by UNICEF, which supported Assemblies in three Regions- Tamale, Ashaiman and Ho, to enhance sanity outcomes.
She said “Ho is the only one to produce an ODF community, and it is worth celebrating.
The project, funded by the Government of the Netherlands, supported the Ho Municipality, regional capital, in the construction of a liquid waste treatment plant, which was also commissioned for use on the day.
The REHO said series of engagement and numerous sensitisation activities would be undertaken going forward, while noting a highly engaging year as the Region worked to keep COVID-19 at bay.
“The Office seeks to ensure the Region is rid of filth. We must promote health, protect lives, and prevent diseases,” she stressed.
A father-of-three drowned in a river in Ghana after falling from a water bike, an inquest has found.
Iwan Gwyn, 49, from Llanaelhaearn, Gwynedd, disappeared on December 30 while with friends and family in Ghana, where he lived at the time.
His body was found by fishermen on the Volta River near Alorkpem island, close to the capital city Accra.
Coroner Sarah Riley recorded a conclusion of accidental death at the inquest in Caernarfon.
She said: “It appeared Iwan had an unwitnessed fall from the Jet Ski. He’d probably hit his head after it happened.”
A provisional post-mortem examination, held in Ghana, concluded Mr Gwyn died from asphyxiation or drowning, and a potential blunt head injury.
Mr Gwyn, a quantity surveyor who had lived in Ghana for nine years, was married to Annie and had three children – Ben, Megan and Laura.
In January the family said Iwan “will be deeply missed by everyone” adding that the support they had received had been “comforting for the whole family”.
The former rugby player had supported Pwllheli RFC since he was a child.
Paying tribute, the club called his death “tragic”.
National Chairman of Ghana’s largest opposition party-National Democratic Congress, NDC, Samuel Ofosu Ampofo says withdrawal from the grisly by-election at Ayawaso West Wuogon was the best decision which he has not regretted because it saved lives.
On January 31, 2019, hooded masked National Security Operatives armed to the teeth and deployed in Police armored vehicles invaded the Bawaleshie Presbyterian polling station, attacked and shot some supporters of the NDC during the by-election that saw the New Patriotic Party’s Member of Parliament, Lydia Alhassan, elected after the death of her husband, Mr. Kyeremanteng Agyarko, who was the incumbent MP at the time.
Six supporters of the NDC sustained serious gunshot wounds whilst dozens suffered minor injuries.
NDC immediately withdrew from the election
Samuel Ofosu Ampofo has since been accused by his critics in the party of being a coward hence does not deserve to lead the party into a crucial election such as the 2024 Presidential and Parliamentary elections.
However, speaking to the media in Koforidua on Thursday, November 24, 2022, after meeting 16 constituencies as part of his campaign tour in the region, Samuel Ofosu Ampofo stated that, the withdrawal from the by-election was tactical decision taken in consultation with security experts in the party to protect lives of unarmed NDC supporters in the face of rampaging riffle wielding national security operatives.
“I have led so many by-elections in this country. Ayawaso West Wuogon was a different election. It was the only time state security agencies armed with assault riffle hunted down on Innocent people who were only going to vote. I will put the lives of my party people always first beyond any other consideration so that decision was not a unilateral decision.It was a decision I took in consultation with the party’s national security system -Naval Captain Asaase Gyiamah was the chairman of our national security committee, Totobi Quachie was immediate past minister of National Security in our government and so these are people who were even with me when I was announcing our withdrawal, and other Senior people”.
He said, as a result of that decision Emil Short Commission was set up to investigate the violence which also led to passage of legislation disbanding vigilantism in Ghana’s politics.
“Government was put under pressure to pass a law against vigilantism and other offences and in 2020 vigilantism and vigilante activities were not seen in polling stations that is as a result of the tactical withdrawal from the by-election to save lives and properties”.
Samuel Ofosu Ampofo believes election is not a war to deploy thugs to cause mayhem but building resilient party structures at the grassroot to regional level will rather repel anything detrimental to the party.
“Obama said we don’t need strong personalities but we need strong institutions. What I am doing is to build resilient institutions at the branch level, ward level, constituency level, and at the regional level after all you don’t need one strong person to be in all 275 constituencies on election day. You can’t get one strong person to be in 40,000 polling stations on election day. You need strong structures, strong people that we will train”
He added “Will train the party agents one year before the election. We will build their capacity and give them the knowledge. Elections are won at the polling stations. You don’t need a machoman to win an election. You need a strategic person, a person who understands electoral system to do things right “.
Mr. Ampofo said he has led the party to establish security and intelligence desk, and attached legal experts to all Constituencies as part of preparation towards 2024 elections since the party and John Dramani Mahama have taken a position not to go to the Supreme court again.
Samuel Ofosu-Ampofo (born March 10, 1962) is an experienced politician who has passed through the ranks serving as an assembly member, and District Chief Executive for Fanteakwa North before becoming a Member of Parliament for the area.
He is also a former Eastern Regional Minister and served as Minister for Local Government and rural Development. He is also a former National Organizer and currently National Chairman of the NDC seeking reelection for a second term but facing fierce contest from another experienced politician currently the General Secretary of the NDC, Johnson Asiedu Nketia aspiring to annex the position.
However, Mr.Ofosu Ampofo says he is confident of winning the election having led the party to improve its performance from 4.8 million votes to about 6.3million votes in 2020 presidential election, increased parliamentary seats from 106 to 137, and annexed the speaker of Parliament position for the party.
He added that under his leadership, retreats have been organized for constituency and regional executives, party reorganization conducted ensuring that branches and wards of the party are activated towards 2024 polls.
A twenty-year-old boy is in the custody of police in Damongo for allegedly kidnapping an 8-year-old girl.
The suspect who has been identified as Nicholas was reportedly arrested and handed over to the police after several hours of manhunt.
The incident occurred on Thursday, November 24, 2022, at Alhassan-Kura a suburb of Damongo in the West Gonja Municipal of the Savannah Region.
He is said to have gone around the victim’s house at about 10:00pm where the victim was playing under a street light with four other kids.
The suspect reportedly gave the kids Gh¢1.00 each and asked the victim to follow him under the guise of giving her a higher amount.
Allegedly, he lured the minor into a nearby bush which happens to be a cemetery where indigenes of Damongo are laid to rest.
Explaining the incident to GhanaWeb, the Assembly member for the area, Sumaila Rashid Atalia disclosed that the suspect lured the victim using noodles and chicken.
He narrated that the victim at one point got scared and tried screaming but the suspect threatened to kill her if she dares raises an alarm.
The four kids who were left behind upon seeing her being taken into the bush sensed danger and rushed to inform the victim’s family whose house was a stone’s throw away.
The family of the victim after getting wind of the information raised an alarm and quickly mobilized members of the community to find her.
After hours of searching, suspect Nicholas was apprehended with the victim in the middle of the cemetery under a tree.
According to Assembly Man, it took extra effort to restrain members of the community from manhandling the suspect.
The suspect he said was taken to the police station whiles the victim was taken to St. Anne’s hospital for medical examination.
Meanwhile, the Damongo police commander was unavailable to speak on the matter but a source within the command confirmed the incident to GhanaWeb but declined to give further details.
The victim (name withheld) in an exclusive interview immediately after the incident disclosed that the suspect tried having an affair with her before the search team pounced on him.
Also, Infuriated members of the community who spoke to GhanaWeb on condition of anonymity registered their displeasure at the Assembly Man over they what they described as his refusal to allow them to kill the suspect.
They served notice that they won’t spare any suspect of any crime when arrested next time.
Members of Parliament have commended the Black Stars for their performance in their World Cup match against Portugal.
Even though Ghana lost 2 goals to 3, the MPs said they put up a good performance during the match.
Member of Parliament for South Tongu, Kobena Mensah Woyome, in his statement on the floor, congratulated the team for being able to hold their opponent to a 3:2 scoreline.
Former Sports Minister, Isaac Kwame Asiamah in reference to the referee awarding a penalty against Ghana, said it affected the progress of the team.
He said the officiating has come to question and he will urge the Black Stars to do more concentration on the field of play.
“Going forward, next two matches, we urge the Black Stars to know that as Azumah Nelson once said, ‘bring your mother as a referee and I’ll still beat you’ that should be their mindset and we are happy they are doing the needful, they are protesting to FIFA.”
Member of Parliament for Talensi, Benson Tongo Baba also urged the players, and technical handlers to put the defeat behind them and look forward to the matches ahead of them.
He also called on Ghanaians to continue to support the team.
“Let us see that this should be the beginning for things to change in this country that we should work together as one nation with a common destiny.” He said.
Minority Leader, Haruna Iddrisu said Portugal did not deserve the win.
“Mr Speaker, the right thing to do is to congratulate Portugal as winners undeservingly. They don’t deserve the victory because we were robbed of our victory by poor officiating and not just the penalty awarded in favour of Ronaldo even the second goal of Portugal by VAR is kind of offside goal if you observe it but it was not confirmed.”
He urged the team to concentrate on their match, adding that the coach did not need to make any changes during the match.
He said they are proud of the Black Stars so far.
Majority Leader, Osei Kyei-Mensah-Bonsu said the second half was very explosive and the best so far in the tournament, adding that Ghana lost to the referee and not to Portugal.
“We lost to the referee and not to Portugal. Mr Speaker, in such instances the VAR will be resorted to. Who were the people manning the VAR system? Such that the referee was not prompted because clearly the two players went for the ball and they touched the two feet of the two players almost at the same time and there was no tangle. So how come did the referee whistle for a penalty against Black Stars and the people manning the VAR system did not prompt the referee? It wasn’t a conspiracy against Africa? Mr Speaker, the temptation to arrive at this conclusion is there for everybody.” He said
The Black Stars lost their opening Group H game 3-2 to Portugal at Stadium 974 on Thursday, November 25, 2022.
The first Portuguese goal which was a penalty has reportedly triggered a petition to FIFA to investigate the conduct of the referee.
Former Deputy Communications Minister Felix Kwakye Ofosu has alleged that holders of government bonds will not be paid any interest for the whole of 2023.
Speaking in an interview on Good Morning Ghana, monitored by GhanaWeb, Kwakye Ofosu also said that foreigners who have invested in government bonds will also see their investment slashed.
He urged Ghanaians who live on interest from bonds they have invested in to prepare themselves for a hard time because the ‘haircut’ the government has denied will be happening.
“It is almost cast in stone that external bondholders are going to suffer a 30 percent cut in their principal and a 20 percent cut in their coupon rate or interest rate. The maturity date for their bonds will be extended by 20 years.
“For domestic holders, for the whole of 2023 there will be no interest payment, In 2024 they will get 5 percent, (and) in 2025 they will get 10 percent. This is not what you agreed with them, this is a haircut,” he said.
He accused President Nana Addo Dankwa Akufo-Addo of lying to Ghanaians when he said his government would buy off government bonds at rates lower than their expected returns, i.e., “haircut on Government bonds.”
“… the president of Ghana has stood on national television and told us that there will be no haircuts. So even the credibility of this government is in tatters. You cannot believe what the president tells you,” he said.
Meanwhile, the Ministry of Finance has announced the government is looking into the possibility of conducting a debt operation that will cover the terms of payments of principal and interest on public debts (government bonds) – ‘Haircut’.
The ministry indicated that the move will help reduce the pressure on the government’s budget and also make the nation’s debts sustainable.
In a press release dated November 24, 2022, the ministry added that it will announce details of the debt operation in due course.
According to Mavis Hawa Koomson, the minister for fisheries and aquaculture development, negotiations are well underway to ensure that Togo, Liberia, and Benin approve the adoption of closed seasons in respective fisheries sectors.
The only neighboring nation at the moment to use the closed season is Ghana.
Speaking at a forum at the ongoing Fish Festival in Accra on Thursday 24 November,Madam Koomson said the initiative will help sustain and rebuild depleted fish stocks across the region.
“Benin and Togo have already confirmed that what I said was true and so it is something we’ve had discussions with them. Liberia is also ready to join.
“But I promise you that next close season we will not even see a bird on the sea because other countries are observing close season,” Koomson said.
The sector minister warned that anyone who violates the law would be dealt with accordingly once the patrol boats start operating.
According to her, the ministry will increase vigilance to combat illegal activities which might threaten the sustainability of the sea.
“Anyone who has planned to be stubborn would be arrested when the patrol team starts operating,” Koomson said, calling on local chiefs and community leaders to help develop the aquatic sectors in Ghana.
30 Ghanaian businesses have received government assistance in obtaining certificates of origin that will allow them to begin trade within the African Continental Free Trade Area (AfCFTA).
The (Ghana) National AfCFTA Coordination Office, which acts as the country’s contact with the AfCFTA Secretariat, will provide assistance to the approved businesses.
The businesses are among the 230 potential exporters who have been identified and who will be assisted in understanding AfCFTA processes, procedures, and protocols as they create their export-ready products.
A certificate of origin is a document which attests that a product listed has met certain criteria to be considered as originating in a particular country.
It is issued by the Customs Division of the Ghana Revenue Authority (GRA) and the Ghana National Chamber of Commerce and Industry (GNCCI).
The National Coordinator at the (Ghana) National AfCFTA Coordination Office, Dr Fareed Kwasi Arthur, who made this known at the opening of a workshop in Accra yesterday, said two out of the 30 firms had been exporting under AfCFTA since October this year.
The two — Benso Oil Palm Plantation Limited and KEDA Ghana Ceramics Company Limited — exported palm oil products to Kenya and ceramics to Cameroon, respectively.
He said the coordination officer assisted the companies to meet the necessary protocol for the shipment of their consignments.
Dr Arthur said under the initiative, a company needed a certificate of origin issued by a competent authority, such as the Customs Division and the GNCCI.
He said the certificate of origin accompanied the consignment to help the authorities of the designated country determine whether or not the goods were from a member country under the agreement.
The coordinator said the issuance of the certificate was also to ensure that goods or products to be shipped met the necessary requirements under the protocol.
Official trading
Dr Arthur explained that trading under AfCFTA formally started on January 1, last year, with Kasapreko Company Limited and Ghandour Cosmetics Limited shipping their products within the African continent to test the process.
However, he said, official trading commenced on October 7, this year, making it the world’s largest free trade area in terms of participating member states after the formation of the World Trade Organisation (WTO).
He said the AfCFTA initiative had great economic, trade, as well as social, advantages for Africa if the continent advanced in infrastructure connectivity.
Maximising gains
Dr Arthur said the country had also put in place other institutional frameworks to help maximise gains from the initiative, including the establishment of the AfCFTA inter-ministerial committee, a national steering committee and technical working groups on all the seven clusters for boosting intra-African trade.
Additionally, he said, it had designed the AfCFTA National Action Plan and the National Export Development Strategy (NEDS) meant to help revitalise the country’s export development efforts, with a strong focus on Africa’s over 1.2 billion consumer market.
The workshop
The two-day workshop, being organised by the Trades Union Congress (TUC), in collaboration with the International Labour Organisation (ILO), seeks to build the capacities of participants on AfCFTA.
It is meant for 30 participants, who are mainly affiliates of TUC.
It features topics such as trade investment, decent work and the role of trade unions in influencing trade policies.
A Senior Technical Specialist at the ILO, Inviolata Chinyangarara, said trade unions were critical in the development of national policies across the globe.
She explained that the voices of trade unions needed to be heard to influence trade and investment policies.
“We are happy to collaborate with the TUC to build the capacities of its affiliate on the AfCFTA initiative,” she added.
A Deputy Communications Director of the governing New Patriotic Party (NPP) Abdul Kamal Deen has said that the government acknowledges that times are hard for Ghanaians hence, drastic measures taken in the 2023 budget statement.
Speaking on the Big Issue with Roland Walker on TV3 Friday November 25 while discussing the budget presentation, he said regarding the embargo placed on employment into the public and civil service that it means “those who have reached retirement age must go for them to be replaced.”
He added “drastic measures needed to be introduced, times are are hard, we have had the president acknowledging that fact, Finance Minister acknowledging, Vice President acknowledging that we are not in normal times.”
The Minister of Finance Ken Ofori-Atta announced in the 2023 budget a freeze on employment into the civil and public service.
He also said there shall be no new government agencies established in 2023.
He said these while presenting the budget in Parliament on Thursday November 23.
Mr Ofori-Atta said as a first step toward expenditure rationalisation, government has approved a number of directives which takes effect from January, 2023.
These are “All Ministries, Departments and Agencies (MDAs), Metropolitan, Municipal and District Assemblies (MMDAs) and State-Owned-Enterprises (SOEs) are directed to reduce fuel allocations to Political Appointees and heads of MDAs, MMDAs and SOEs by 50%. This directive applies to all methods of fuel allocation including coupons, electronic cards, chit system, and fuel depots. Accordingly, 50% of the previous years (2022) budget allocation for fuel shall be earmarked for official business pertaining to MDAs, MMDAs and SOEs;
“A ban on the use of V8s/V6s or its equivalent except for cross country travel. All
government vehicles would be registered with GV green number plates from
January 2023; Limited budgetary allocation for the purchase of vehicles. For the avoidance of doubt, purchase of new vehicles shall be restricted to locally assembled vehicles;
“Only essential official foreign travel across government including SOEs shall be
allowed. No official foreign travel shall be allowed for board members.”
The Finance Minister added “Accordingly, all government institutions should submit a travel plan for the year 2023 by mid-December of all expected travels to the Chief of Staff; As far as possible, meetings and workshops should be done within the official environment or government facilities; Government sponsored external training and Staff Development activities at the Office of the President, Ministries and SOEs must be put on hold for the 2023 financial year; Reduction of expenditure on appointments including salary freezes together with suspension of certain allowances like housing, utilities and clothing, etc.;
“A freeze on new tax waivers for foreign companies and review of tax exemptions for free zone, mining, oil and gas companies; A hiring freeze for civil and public servants, No new government agencies shall be established in 2023; There shall be no hampers for 2022; There shall be no printing of diaries, notepads, calendars and other promotional, merchandise by MDAs, MMDAs and SOEs for 2024; All non-critical project must be suspended for 2023 Financial year.”
An Accra High Court has remanded into prison custody Huang Lei and another Chinese National for immigration offenses.
Appearing before the criminal court 5 presided by Justice Lydia Osei Marfo, prosecution noted that the accused person was arrested on September 2, 2022 at their residence in Kumasi.
Per the statement of facts the two are standing trial over the expiration of resident permits, contrary to Section 20(1) and 52(1)(D) of the Immigration Act, 2000 (Act 573); possession of ammunition without lawful authority contrary to section 11 of the arms and ammunitions Act, 1972, NCD 9, and possession of a forged official document contrary to section 166 of the criminal and other Offences Act, 1960, Act 29.
“A search conducted in the room of the first accused person (Huang Lei) revealed among other things, eight (8) packs of Eley shotgun cartridges, containing about two hundred and fifty (250) pieces of ammunition. He was not able to provide a valid licence for them,” Watkins Adama, a State Attorney told the court on Thursday.
The prosecution also indicated that the second accused person Huan Hiahua had in his possession a Chinese passport with forged residence permit. During the arrest, the prosecution added that Jian Li Hau a purported girlfriend of the son of Aisha Huang was picked up for suspected illegal mining activities.
The court remanded Huang Lei ans Huan Hiahua into prison custody. The case has been adjourned to December 13 for case management.
The Ghana Electrical Contractors Association (GECA) has advised users of electrical gadgets to be extra careful with their use as they immerse themselves into the World Cup games.
Awal Sakib Mohammed, the President of GECA in an interview with 3FM Sunrise Morning Show observed that many people during the excitement of the world cup thrills may easily leave their irons and other electrical appliances on, which may lead to fire outbreaks or wastage of electricity.
Ghana Electrical Contractors Association (GECA) has further warned that the incessant increase in the prices of electrical cables is promoting the usage of inferior cables in the wiring of buildings which could lead to an increase in fire incidences.
He explained that the cost of borrowing and cedi depreciation are seriously affecting the cost of cables and thus contributing highly to the use of inferior cables and shoddy electrical works in Ghana.
“Estimates are made for electrical works in advance but as the construction progresses, the price instability affects the budget allocation and in order for the contractor not to incur greater losses, he or she would resort to lesser expensive and inferior alternative materials” Awal Sakib mentioned.
The electrical contractors have stressed the need for electrical jobs to be awarded separately to specialized electrical companies who can do proper professional estimation and costing, whereas the civil and building works are given to a civil engineering firm so that we can have very good electrical installations in Ghana.
“In Ghana, our system is not well regulated. Both public and some private jobs are lumped up and given to one person who is a building contractor who wants to maximize his profit as a businessman. However some of them are not able to price well for the electrical works and in order to make up for the underpricing, they force the electrical person to go with any amount. The electrical person too would have to compromise on quality in order to be able to do the job” the GECA President bemoaned
GECA encourages property owners and facilities managers to conduct regular auditing and maintenance of their electrical installations in order to prevent damages and unwanted incidents.
The Ashanti Regional Directorate of the Ministry of Agriculture is considering opening the Planting for Food and Jobs (PFJ) market in the region only twice a week on Wednesdays and Thursdays.
The Directorate says the low patronage since its introduction in the region will force some changes.
The Ministry introduced the initiative in the region as part of moves to decentralize it. But reports say the patronage has not been encouraging.
Speaking to Citi News, the Ashanti Regional Director of Agriculture, Rev. John Manu, said some changes will be made to the programme in the region.
“There were some challenges beyond our control. We were expecting some vehicles to be here early. So there are some lessons learnt. For instance, next Wednesday and Thursday, the goods we will be expecting will arrive the day before so that the food items will be readily available when customers come in early in the morning. This is the first time we are doing this exercise, so there will be challenges, but we will now be doing two days within the week from now until the end of the month.”
Earlier in November, the Ministry began the retailing of food items at its premises to civil and local government workers.
Many have criticized the move, describing it as a cost to the state.
But the sector minister, Dr. Owusu Afriyie Akoto defended it, saying data gathered by the Ministry shows massive disparities between prices at the production areas and urban centres due to the costs involved in the agric value chain.
The ministry had tocounter criticism that it is wasting taxpayers’ money with the carting and sale of cheap foodstuff at premises.
For instance, the General Agricultural Workers Union (GAWU) accused the Ministry of abusing its power.
“You cannot use the ministry as a market to start with because by doing so, they are demobilizing other state institutions from operating,” the General Secretary of the General Agricultural Workers Union, Edward Kareweh, said to Citi News.
However, the ministry has already taken steps to replicate the market nationwide.
North Tongu Member of Parliament Samuel Okudzeto Ablakwa has said that the government has finally done what is right regarding the National Cathedral project by capturing a specific allocation of GHS80million in the 2023 Budget for approval.
Prior to the budget presentation, the Finance Minister Ken Ofori-Atta had denied allegation that he withdrew funds from the Contingency Fund for the National Cathedral project.
He told the 8-member ad hoc committee that was investigating the allegations made against him by the Minority, that it was rather funds from the Contingency Vote that were used for the project.
The Contingency Fund and the Contingency Vote, he said, were two different things altogether which should not be confused.
“I did not withdraw funds from the Contingency Fund for National Cathedral,” he told the committee on Friday November 18.
He added “The withdrawals were lawfully done from the Contingency Vote and not from the Contingency Fund as alleged by the proponents.”
In a tweet, after the 2023 budget presentation on Thursday November 24, Mr Ablakwa said “After all the lawlessness, deception and dishonesty about the National Cathedral being a Contingency Project; the Akufo-Addo/Bawumia/Ofori-Atta govt has finally been forced to do what is right by capturing a specific allocation of GHS80million in the 2023 Budget for approval.”
President Nana Addo Dankwa Akufo-Addo has assured Black Stars players of continuous support from Ghanaians despite the 3-2 defeat to Portugal during the opening game at the ongoing 2023 World Cup in Qatar.
Nana Akufo-Addo says Ghanaians are optimistic the Black Stars will win the remaining matches to qualify to the next stage of the competition.
“I know that you are more than capable of going forward, coming out of this competition very well. Fortunately for you, I came here to express the solidarity of the people of Ghana for you and to encourage you. I know you are going to make all of us very proud”, he told the team.
Earlier in a tweet, the President praised the Black Stars for an impressive performance against Portugal.
The Black Stars were on the wrong side of a 3-2 loss on Thursday, but a strong second-half performance saw them almost snatch a draw late on.
A penalty from Cristiano Ronaldo was cancelled out by Andre Ayew’s strike.
Goals from Joao Felix and Rafael Leao appeared to have sealed the game for Portugal, but they had to endure a nerve-wracking end to the game after Osman Bukari headed in a cross for Ghana.
In a tweet after the game, Nana Akufo-Addo praised the team for their performance, which he said proved that they could compete with any side at the World Cup.
“Gutsy performance by the Black Stars in today’s match against Portugal. Very proud of the entire team,” the President said.
“They live to fight another day, & have shown they have what it takes to mix it up against any team in the tournament. Looking forward to the next game against South Korea.”
Gutsy performance by the @GhanaBlackstars in today’s match against Portugal. Very proud of the entire team. They live to fight another day, & have shown they have what it takes to mix it up against any team in the tournament. Looking forward to the next game against South Korea. pic.twitter.com/FiDWm5fO4b
The 8-member ad-hoc committee that probed allegations in a censure motion brought against Finance Minister, Ken Ofori Atta, has presented its report to Parliament.
This comes after the committee’s request for more time from the Speaker of Parliament, Alban Bagbin to finalise its report after the conclusion of public hearings last Friday.
The committee probed allegations of unconstitutional withdrawal of funds from the consolidated fund for the National Cathedral project, gross mismanagement of the economy, and financial recklessnesses leading to the collapse of the Ghana Cedi as the basis for a censure motion against the Finance Minister by the Minority in Parliament.
The Committee although was unable to conclude its work within the seven-day period offered by the Speaker, it has presented its report to the plenary with the Chairman of the Committee expected to move the motion for a debate on it.
On October 25, 2022, the Minority in Parliament filed a censure motion against the Finance Minister, Ken Ofori-Atta.
This occurred at the same time that the Majority MPs, numbering around 80, held a press conference to demand the removal of the Finance Minister and the then Minister of State in charge of Finance at the Ministry of Finance, Charles Adu Boahen, for their inability to manage the economy.
However, the NPP MPs failed to support the NDC MPs in their quest.
According to them, although they want the Finance Minister out, they would do that on their own terms.
They insisted that the Minority had their own parochial interest.
A general secretary aspirant of the National Democratic Congress (NDC), Elvis Afriyie Ankrah, has descended heavily on the media in Ghana, describing it as being overly considerate of the government of the day.
He explained that the contribution of the media has added to the current mess that the country is facing, as it has refused to be as critical as it is supposed to be, at least in terms of how it performed in the NDC era of governance.
Speaking in an interview on GhanaWeb TV’s Election Desk with host Edward Smith Anamale, the former Deputy General Secretary of the NDC stated that the media in Ghana today has been pampering the Nana Addo Dankwa Akufo-Addo government.
“The reason we are in this state is because a lot of media people have pampered this government; a lot of media people. When they started messing around, instead of media people speaking the truth to them, the media people became gatekeepers.
“So, things that if half of it happened under NDC, they’ll come out strongly, at a point they said if they want to talk then it is because they want to be the devil’s advocate. Really? You are only a devil when it’s about the NPP? What devil’s advocate? Facts are facts,” he stated.
Elvis Afriyie Ankrah further stressed that if only the media in Ghana could be half as critical as it was of the erstwhile NDC government and stop the ‘false equivalents’ between the two governments, it would put the incumbent on their toes to deliver better.
“The same way that NDC was held to account when we were in power, if half of it had been done to NPP today, we won’t be where we are today, but because they know that when they mess up, when (sic) comes to show, media people will be asking funny questions and trying to be doing false equivalents; NDC and NPP are the same. We can never be the same,” he stated.
Tamale Central Member of Parliament Ibrahim Murtala Mohammed has said that he did not sit in the chamber of Parliament to listen to the Finance Minister’s presentation of the 2023 budget statement.
He said he did so from his office.
He stated that it would have been unprincipled to sit in Parliament to listen to Mr Ken Ofori-Atta who is being asked to leave office.
“It was an unprincipled decision to sit in. This is a man who has been called to go by over half of Members of Parliament, he is no longer fit to man the office of the Ministry of Finance.
“As a Minority, we also think the man is no longer fit to be in office so I felt it was not principle for me to sit in. Those who had the courage to sit in said they were disappointed to sit in to listen to him,” Murtala said on the Big Issue on TV3 with Roland Walker on Friday November 25.
The opposition Members of Parliament through their leadership announced in a statement that they would be in Parliament Thursday November 24 for the 2023 budget presentation by the Finance Minister.
This, they said, was without prejudice to the investigation that is being done by the 8-member committee on the Finance Minister following the allegations they made against him.
“While we remain committed to seeing through the process to censure the Finance Minister , we are mindful of our duty to carry out oversight on the Executive and preserve the interest of the Ghanaian people whose livelihoods the Akufo-Addo/Bawumia administration has severely undermined through mismanagement of the economy,” a statement issued by the Minority Leader Haruna Iddrisu said.
This was after the New Patriotic Party lawmakers rescinded their decision to boycott the presentation if Mr Ofori-Atta was going to present it.
The Members of Parliament wanted another person other than Mr Ofori-Atta to do so but after an intervention by the NPP leadership, they have agreed to allow him to present the statement.
The economy has been going through struggles with the local currency performing badly against the major trading currencies especially the Dollar.
The General Agricultural Workers Union(GAWU) says it is disappointed with the 2023 Budget statement describing the economic policy as “uninspiring” for the agric sector.
Speaking to Starr News, the General Secretary of GAWU, Edward Kareweh said even though the government says it is looking at investing in the sector with an announcement of an insurance policy for farmers, it doesn’t address pertinent issues facing the sector.
“I think our fears were confirmed that this budget is technically a budget from the IMF and indeed it is not inspiring for us. This is a budget that has not come out with radical policy measures to turn agriculture around.
He added: “This is a budget that has concentrated on trying to constrain benefits to workers. This is a budget that has concentrated on raising taxes to affect workers and the entire Ghanaian population. This is a budget that has got austerity measures that are not targeted at those who are benefiting from the current crisis but rather the measures are seeking to further take away the little that the vulnerable have.”
It has emerged that the Okyenhene Osagyefo Amoatia Ofori Panyin destooled the Benkumhene of Asamang Tamfoe Nana Darkwa despite pleas by the sub-chief.
Nana Darkwa, in earlier reports, had called bluff reports of his destoolment by the Akyem Abuakwa Traditional Council led by the Okyenhene.
However, appearing before the committee on Wednesday, November 23, 2022, Nana Darkwa lied down to plead against his destoolment when the Council found him guilty of engaging in illegal small scale mining also known as galamsey.
Nana Darkwa was also found guilty of disrespecting the Council and the Okyenhene for holding a press conference in which he called the bluff of the Okyeman Environmental Protection Taskforce and threatening to clash with them if they dared enter Asamang Tamfoe to clamp down on illegal mining in the area.
At the press conference, he is said to have addressed himself as the chairman of the Community Mining Committee at Asamang Tamfoe and Benkumhene of the area, who wield the sole powers to supervise community mining in the area.
Nana Darkwa is said to have instigated the Asamang Tamfoe youth in a confrontation that ensued between the Okyeman Environmental Taskforce and a section of the youth in the area which led to the sporadic gunshot in the area some months ago.
He had questioned the authority of the leader of the Okyeman Environmental Taskforce who double as the Apepamhene, Okogyeman Apedja Fori and the Kyebi Divisional Police Command on clamping down the menace of illegal mining in the area.
But appearing before the Council, Nana Darkwa appeared remorseful while lying before the Okyehene to plead for pardon.
However, the Okyenhene refused his plea for pardon and insisted that the Benkumhene was not fit to be a chief per his conduct.
Subsequently, Okyenhene’s chief linguist Okyeame Antwi Boasiako performed customary rites at the forecourt of Ofori Panin Fie to symbolise the destoolment of Nana Darkwa.
The customary rites were performed in the presence of the Kyebi Executive Council and the Chief of Asamang Tamfoe Nana Kwame Koh II.
Osagyefo Amoatia Ofori Panin cautioned Chiefs within the Akyem Abuakwa Traditional area to be guided by this development and desist from promoting activities of illegal mining or getting involved in same or face destoolment.
The Okyenhene emphasised that he will not relent in his effort to crack the whip on any chief within the Akyem Abuakwa Traditional area who is involved in illegal mining.
Samuel Okudzeto Ablakwa, a representative for North Tongu, has questioned the government’s intention to raise the Value-Added Tax (VAT).
On Thursday, November 24, 2022, the Finance Minister, Ken Ofori-Atta, announced an increase in the VAT rate for the next year presenting the 2023 Budget Statement and Economic Policy in parliament.
But reacting to the announcement in a Facebook post, the opposition MP wondered how the current event is occurring under the presidency of Nana Addo Dankwa Akufo-Addo, who led a protest against VAT when it was introduced in 1995.
“Who could ever have imagined or predicted that Nana Addo Dankwa Akufo-Addo who led the fatal 1995 Kumepreko demonstration against the introduction of VAT under President Rawlings which tragically claimed the lives of Ahunu Ahonga & 5 others would today be increasing VAT by 2.5%,” he wondered.
The increase in VAT will enable the government to raise money to finance initiatives like road development, according to the minister of finance.
“Mr. Speaker, the demand for roads has become the cry of many communities in the country. Unfortunately, with the current economic difficulties and the absence of dedicated source of funding for road construction, it is difficult to meet these demands. In that regard we are proposing the implementation of new revenue measures. The major one is an increase in the VAT rate by 2.5 percentage points,” the minister said.
In 1995, Nana Akufo-Addo and other members of the New Patriotic Party led what is described as Ghana’s largest demonstration in history.
Five protesters were killed during a protest against the then-government of Jerry John Rawlings’ decision to introduce VAT. Unidentified assailants fired into the crowd of protestors.
Kennedy Agyapong has been challenged by Justice Kwaku Annan, a former political show host on Net2 TV, to publish the second series of the documentary dubbed “Who Watches the Watchman.”
Following the release of Anas Aremeyaw Anas‘ undercover video on corruption in Ghana and African football, Net2 aired the first segment of the aforementioned documentary, which revealed the dishonest methods of the investigative journalist.
After showing “Who Watches the Watchman” to the audience at the Net2 headquarters, the congressman vowed that he will soon display a second portion. Three years later, that hasn’t occurred.
Kwaku Annan believes it is that lack of organization in Kennedy Agyapong’s approach that allowed Anas to ‘survive’ and continue to purportedly expose people he deems corrupt.
“Ken is not composed and at the same time he doesn’t know how to arrange himself. He speaks loudly but he needs to be better organized and to put things together chronologically.
“People are still disappointed that when you came out with ‘Who watches the watchman’ part one,’ where is the part two? It should have been bigger and more detailed to expose the things we are talking about, where is it?” Annan asked last week in an interview with the Nsem Pii YouTube channel.
Annan was addressing concerns relative to Anas’ documentary dubbed ‘Galamsey Economy,’ in which he made corruption allegations against Charles Adu Boahen, the Minister of State at the Finance Ministry.
The Minister has since been removed by the president and referred to the Office of the Special Prosecutor for investigations.
The two Canadian ladies who were the victims of kidnapping and their families would observe the judgement of the High Court on December 20, 2022, via video link.
This was after the court had granted a request from the family of the victims to the court through the office of the Attorney General to be allowed to monitor the judgement.
The two ladies – Miss Lauren Patricia Catherine Tiley and Miss Bailey Jordan Chilley, who were in Kumasi to participate in a youth programme on June 4, 2019 were kidnapped.
Sampson Agharlor, together with three others including a Ghanaian are facing judgement after a full trial.
The four persons who have been charged with unlawful imprisonment of two Canadian nationals have pleaded not guilty to four charges related to kidnapping.
The accused – Sampson Agharlor, aka Romeo, the ring leader together with Elvis Ojiyorwe, Jeff Omarsar and Yusif Yakubu have all denied the charges of conspiracy to kidnap, two kidnappings and an unlawful improvement.
They have been accused of playing various roles in the kidnapping of Miss Lauren Patricia Catherine Tiley and Miss Bailey Jordan Chilley, who were in Kumasi to participate in a youth programme on June 4, 2019.
The trial has ended with the court set to deliver its judgement.
However in court on Thursday, November 24, 2022, when the case was initially fixed for judgement the court presided over by Justice Lydia Osei Marfo said, the judgement is not ready.
“We were to have our judgement today (Thursday, November 24, 2022) unfortunately, same is not ready. Meanwhile, I received a letter from the office of the Attorney General requesting that some members of the victims and their family will want to be part of the delivery of the judgement.
“The court is agreeable to their request. We shall create a link which they can join on the day the judgement would be delivered. This information would be relayed to them at least four days before the judgement,” Justice Osei Marfo noted.
The case has been adjourned to December 20 for the judgement to be delivered.
The accused persons who are in lawful custody according to EIB Network’s Legal Affairs Correspondent Murtala Inusah, were all present in court.
Twifo Hemang Methodist JHS Basic School in the Twifo Hemang Lower Denkyira District of the Central Region has been shut down by the school authorities following frequent defecations in the classrooms.
In the recent incident, some unscrupulous persons splashed human excreta on tables, floors, and blackboards from JHS 1 to JHS 3 including the Headmaster’s office.
Speaking in an interview with Kasapa News, Yaw Boagyan the students disclosed the situation is badly affecting teaching and learning as they are in a revision week and are about to write their end-of-term exams.
They claim this is the 6th time they are encountering such an unfortunate incident as the unidentified persons started defecating in the classrooms from the Primary blocks and have now extended it to the Junior High School block.
They called on the authorities to provide the school with security to ward off unscrupulous persons.
The Headteacher of the Schoo, Mr. George Kurentsir said the JHS students have been relocated as a temporal measure.
He believed the faceless people behind today’s defecation did it in a bucket and splashed it in the classrooms through the top of the roofs and holes in the windows because the doors were tightly locked.
Mr. George Kurentsir said the school is sitting in the heart of the community and is furnished with street lights so he wonders how the people got the courage to commit such a shameful act.
A man has reportedly been killed in a hit-and-run accident at Assin Akyiase, off the Cape Coast-Assin Fosu Highway.
The accident, according to a report by Onuaonline.com, occurred when a speeding truck knocked and ran over the victim.
According to an eyewitness, the victim of the accident appeared to be drunk, hence his failure to move out of the way when the truck was approaching.
“It was a hit-and-run. The car was big. The police have come to assess the situation and [have] covered him with weed. It’s a man. His intestines are all out. His head is crushed, and his hands and legs are all broken. We know him. He’s from our side. He was drunk. He would have fled,” the eyewitness, Kojo Rockson, narrated.
Meanwhile, a police team is said to have arrived at the scene to assess the situation and convey the body of the deceased for further investigation.
The Finance Minister Ken Ofori-Atta was excellent in the delivery of the 2023 budget statement.
He described the presentation as ‘fantastic, excellent.”
Kamal Deen further said that the government acknowledges that times are hard for Ghanaians hence, drastic measures taken in the 2023 budget statement.
Speaking on the Big Issue with Roland Walker on TV3 Friday November 25 while discussing the budget presentation, he said regarding the embargo placed on employment into the public and civil service that it means “those who have reached retirement age must go for them to be replaced.”
He added “drastic measures needed to be introduced, times are are hard, we have had the president acknowledging that fact, Finance Minister acknowledging, Vice President acknowledging that we are not in normal times.”
The Minister of Finance Ken Ofori-Atta announced in the 2023 budget a freeze on employment into the civil and public service.
He also said there shall be no new government agencies established in 2023.
He said these while presenting the budget in Parliament on Thursday November 23.
Mr Ofori-Atta said as a first step toward expenditure rationalisation, government has approved a number of directives which takes effect from January, 2023.
These are “All Ministries, Departments and Agencies (MDAs), Metropolitan, Municipal and District Assemblies (MMDAs) and State-Owned-Enterprises (SOEs) are directed to reduce fuel allocations to Political Appointees and heads of MDAs, MMDAs and SOEs by 50%. This directive applies to all methods of fuel allocation including coupons, electronic cards, chit system, and fuel depots. Accordingly, 50% of the previous years (2022) budget allocation for fuel shall be earmarked for official business pertaining to MDAs, MMDAs and SOEs;
“A ban on the use of V8s/V6s or its equivalent except for cross country travel. All
government vehicles would be registered with GV green number plates from
January 2023; Limited budgetary allocation for the purchase of vehicles. For the avoidance of doubt, purchase of new vehicles shall be restricted to locally assembled vehicles;
“Only essential official foreign travel across government including SOEs shall be
allowed. No official foreign travel shall be allowed for board members.”
The Finance Minister added “Accordingly, all government institutions should submit a travel plan for the year 2023 by mid-December of all expected travels to the Chief of Staff; As far as possible, meetings and workshops should be done within the official environment or government facilities; Government sponsored external training and Staff Development activities at the Office of the President, Ministries and SOEs must be put on hold for the 2023 financial year; Reduction of expenditure on appointments including salary freezes together with suspension of certain allowances like housing, utilities and clothing, etc.;
“A freeze on new tax waivers for foreign companies and review of tax exemptions for free zone, mining, oil and gas companies; A hiring freeze for civil and public servants, No new government agencies shall be established in 2023; There shall be no hampers for 2022; There shall be no printing of diaries, notepads, calendars and other promotional, merchandise by MDAs, MMDAs and SOEs for 2024; All non-critical project must be suspended for 2023 Financial year.”
The Director of Research at the Institute of Economic Affairs (IEA) Dr John Kwakye has shared his views on the gold for imported oil new policy by the government.
The Vice President Dr Mahamudu Bawumia, has revealed a remarkable new policy by government that would see the government pay for imported oil products with gold rather than through US Dollars.
Revealing the policy in a post on his Facebook page on Thursday, Vice President Bawumia said the policy is expected to take effect by the end of the first quarter of 2023.
He said in a Facebook post that “The Use of Gold To Buy Imported Oil Products
“The demand for foreign exchange by oil importers in the face of dwindling foreign exchange reserves results in the depreciation of the cedi and increases in the cost of living with higher prices for fuel, transportation, utilities, etc. To address this challenge, Government is negotiating a new policy regime where our gold (rather than our US dollar reserves) will be used to buy oil products. The barter of sustainably mined gold for oil is one of the most important economic policy changes in Ghana since independence.
“If we implement it as envisioned, it will fundamentally change our balance of payments and significantly reduce the persistent depreciation of our currency with its associated increases in fuel, electricity, water, transport, and food prices. This is because the exchange rate (spot or forward) will no longer directly enter the formula for the determination of fuel or utility prices since all the domestic sellers of fuel will no longer need foreign exchange to import oil products.
“The barter of gold for oil represents a major structural change. My thanks to the Ministers for Lands and Natural Resources, Energy, and Finance, Precious Minerals Marketing Company, The Ghana Chamber of Mines and the Governor of the Bank of Ghana for their supportive work on this new policy. We expect this new framework to be fully operational by the end of the first quarter of 2023.”
Sharing his views on this, Dr John Kwakye said in a tweet that “This is mere window dressing and will not address the perennial depreciation of the cedi.
“The viable option is to restructure the economy and continually increase the foreign exchange cover for the currency issue.”
“I don’t get the rationale of this policy at all. To me, gold is as good as forex. So, whether we use gold or forex to purchase oil, we’ll be depleting our reserves and the pressure will be back on the cedi.”
Former President Mahama is full of applause for the senior national team, the Black Stars, after last night’s opening game against Portugal.
The team in a dramatic manner lost painfully to Portugal while demonstrating resilience and tenacity.
The former President in a Citi News interview observed the talent of the team and appealed to Ghanaians to stand behind it.
“The players played very well and very confidently. The boys have talents. So this is the Black Stars for now and the future, so let’s give them all our support, and I am sure they will go far.”
A two-minute collapse in the second half by Ghana’s Black Stars helped Portugal pick up a 3-2 win in their Group H clash.
Andre Ayew’s 73rd-minute goal cancelled out Cristiano Ronaldo’s penalty and appeared to have given the Stars a new lease of life.
However, goals from Joao Felix and Rafael Leao in the 78th and 80th minutes put Portugal back in control.
Osman Bukari headed home a second for the Black Stars, but the Portuguese held on, despite nine added minutes, to pick up all three points.
The defeat would have been hard for Otto Addo’s men, who stifled Portugal for much of the first half and the beginning of the second.
Ghana even looked more dangerous than they had in the first half, as Kudus flashed a shot just wide after a surging run.
It was Portugal, however, who broke the deadlock with a controversial penalty.
Mohammed Salisu was adjudged to have taken down Cristiano Ronaldo in the box by the referee, who stuck to his guns despite the protests from the Ghanaians.
Ronaldo stepped up and fired home clinically to put Portugal ahead.
The lead lasted only five minutes as Kudus Mohammed, who had troubled the Portuguese with his speed and skill all game flashed in a cross from the left which was tapped home by Andre Ayew.
Disaster struck moments later when Baba Rahman failed to deal with a through pass. Joao Felix pounced on the loose ball and finished beautifully.
Substitute Rafael Leao rushed through on goal and slid the ball past Lawrence Ati Zigi.
Ghana looked down and out but were handed some hope when Osman Bukari headed home Baba Rahman’s cross.
Nine minutes of injury time flew by as the Stars searched for an equaliser and they almost found it when Inaki Williams snuck in behind Diogo Costa to steal the ball but slipped at the crucial moment.
The win takes Portugal top of the group but the 0-0 draw between South Korea and Uruguay earlier in the day means today’s loss might not prove to be too costly for the Black Stars.
“I have seen some new players in there who played some fantastic football so we have some great potential in there. Otto Addo is a good coach so I think we should give him some space to able to blend the team. So far so good”, Mr. Mahama added.
The data show that the number of pensioners now stands at over 232,000 as of November 2022.
Due to non-renewal of pensioner certificates from April 2018 to July 2022, SSNIT has withheld around GH¢320million as a result of deactivating some 21,337 pensioners.
Insured Salaries
According to the Trust, current available data indicate that more than 80 percent of Ghanaian workers have insured wages of GH¢2,500 or less, meaning that 80 percent are contributing GH¢275 each month.
Additionally, GH¢ 2,500 or less is paid to 95.5 percent of pensioners each month. Only 5.3 percent of Ghanaian workers with incomes of at least GH¢5,000 pay a premium. However, 1.4 percent of retirees also earn a monthly pension of GH¢5,000 or more.
Per the Trust, if this doesn’t change 80 percent of retirees will eventually receive a pension of GH¢1,500 or less. This simply means that the reality of your pension benefits may not be all that different from those of people who are currently receiving pensions if the contribution records of workers in active service do not dramatically improve.
SSNIT and NIA Merger
Some 1.9 million SSNIT numbers have been linked with the National Identification Authority numbers (Ghana Card); and according to the Trust, this has saved the Scheme about GH¢60million that would have otherwise gone into printing new cards.
The printing of new biometric cards was halted in 2018 in anticipation of the Ghana Card, which according to the Trust cost the Scheme more than US$7 per card.
The breakdown revealed 383,200 pensioners and lump-sum beneficiaries; 1,246,839 active members; as well as some 293,010 inactive members (members who have not contributed in the last 12 months).
Between June 2021 and June 2022, SSNIT deployed its systems to allow members to merge their SSNIT and NIA numbers, as it issued a directive that the Ghana Card is the only identification that will be recognised by the Trust as of July 2022.
This complies with Regulation 7 (1) of the National Identity Register Regulations, 2012, L.I. 2111, which requires use of the Ghana Card as identification for “transactions pertaining to individuals in respect of pensions” and “transactions that have social security implications”.
With the integration of SSNIT numbers with the Ghana Card, SSNIT intends to leverage the national platform for a more effective and efficient identification system; for convenience, ease of doing business, eliminating the cost of printing cards, improved claims processing time, and expansion of coverage among others.
Ekwow Spio-Garbrah, a former Trade Minister, has stated that 30% is President Nana Addo Dankwa Akufo-Addo’s best score when it comes to how he has managed the economy and how he has dealt with the corruption fight.
Speaking in an interview with Metro TV he said, the records relative to the economy and corruption are evident in international anti-graft reports and rating agencies downgrading Ghana to junk status.
“On a scale of 1-10, where ten is the highest it would be very difficult for them to go above two. They can’t go beyond two. it would be very difficult. I won’t say zero or one because they have done something.
“But it can’t go beyond two or three, unfortunately, just because of this year. Maybe, last year or before covid-19 they were 4, 5, 6 at different times,” Dr. Spio-Garbrah said.
“But the last few months especially, with the depreciation of the cedi, they are now in the 1, 2, 3 range,” he added.
According to Spio-Garbrah, the Akufo-Addo-led government has ‘failed’ with the corruption fight, especially against galamsey which has caused the distraction of water bodies across the country.
“I don’t want to make it zero but you are the journalist who has shown Ghanaians numerous videos, films, and debates about our water bodies – just to give one area of general concern,” he observed.
Dr. Ekwow Spio-Garbrah also took a swipe at the Vice President Dr. Mahamudu Bawumia questioning his economic abilities to rescue Ghanaians from the present predicament.
“They painted him [Dr. Bawumia] as the wonder kid of the NPP who can perform all kinds of magic. Lock inflation up and give it to the IGP. Locks interest rates and gives it to the IGP. He locks things up and gives them to the IGP. But when they are looking for the key they can’t find it,” he stressed.
Having presented the Budget Statement and Economic Policy of Ghana to parliament in the last 6 years, the Minister of Finance, Ken Ofori-Atta, has become known for one profound, unmistakable thing: quoting biblical scriptures.
Like the typical white attires that the minister has been synonymous with in his administration, many have always looked forward to which scripture he would state in his addresses to parliament.
And while he did not disappoint again this time, there was a new addition that perhaps, is the expectation that Ghanaians would be consoled by.
In his concluding words while presenting the 2023 budget to parliament, on Thursday, November 24, 2022, the minister shared some words in the local Ga language.
Not a typical reader of the Ga language, Ken Ofori-Atta attempted to read the words, ‘N) fiaa n) baa hi,’ to wit, ‘everything will be fine or alright.’
The consoling words from the minister were perhaps, intended to communicate to Ghanaians that regardless of the current economic downturns the country is faced with, there is light at the end of the dark tunnel.
Ghana has been at one of its lowest economically in many decades, with unprecedented statistics in such areas as the performance of the Ghana cedi to the US dollar, fuel prices, as well as debt to GDP figures.
Morning show host of Okay FM, Kwame Nkrumah Tikese has lashed out at the Minister for Finance, Ken Ofori-Atta’s insistence to stay in office despite wide public calls for his removal.
The host of Ade Akye Abia on Friday, November 25, 2022, descended on the minister citing calls from the majority MPs in parliament who are from the ruling party for his removal from office.
“On the front page of Kwasi Pratt’s Insight Newspaper is a flashback of a story with the headline ‘Why I don’t take salary or per diem – Ofori Atta-speaks.’ But who cares? Super Yaw Ofori-Atta, who cares if you take salary or not?
“Does the man not have a wife and children who will advise him to leave the job for another person to take over? Even your own majority MPs said they will not attend and a lot of them did not show up. Even those who turned up were indifferent,” he stated.
The journalist while ranting about the minister’s continued stay in office raised concerns about Ken Ofori-Atta’s health asking why he wants to be in office despite his health condition.
“Why do you worry yourself that much? You are not even healthy, you are sick. I am bewildered, have you people been corrupted by power that much? You did not get a single cheer yesterday. Who cares if you don’t take a salary? Your own majority MPs say you are incompetent, you only know how to contract loans. Get off!” he said.
“I was expecting you to announce your resignation right after reading the budget,” he added.
The minority in parliament recently moved a motion of censure against Ken Ofori-Atta citing various grounds including conflict of interest, mismanagement of the economy and reporting of wrong data to parliament.
But appearing before an 8-member ad hoc committee set up to hear the motion, Ken Ofori-Atta categorically denied all the seven grounds backing the motion.
But according to Kwame Nkrumah, Ken Ofori-Atta has served his due and should walk away.
“You are currently under impeachment when you recently appeared before the committee you took turns between your left and right eyes to sleep. What at all are you seeking in this world, I don’t understand. You have already made all the money you need to make. Whatever money you spent on Akufo-Addo you have accrued it back because all government dealings are allocated to Enterprise insurance whiles we have SIC… why do you still want to clinch to power?” he questioned.
Don’t you have a wife and children to advise you to resign? – Kwame Nkrumah Tikese pokes Ofori-Atta
The morning show host of Okay FM, Kwame Nkrumah Tikese, has lashed out at the Minister for Finance, Ken Ofori-Atta, for his insistence to stay in office despite wide public calls for his removal.
The host of Ade Akye Abia on Friday, November 25, 2022, descended on the minister, citing calls from the majority MPs in parliament who are from the ruling party for his removal from office.
“On the front page of Kwasi Pratt’s Insight Newspaper is a flashback of a story with the headline, ‘Why I don’t take salary or per diem – Ofori Atta-speaks.’ But who cares? Super Yaw Ofori-Atta, who cares if you take salary or not?
“Does the man not have a wife and children who will advise him to leave the job for another person to take over? Even your own majority MPs said they would not attend, and a lot of them did not show up. Even those who turned up were indifferent,” he stated.
The journalist, while ranting about the minister’s continuous stay in office, raised concern about Ken Ofori-Atta’s health, asking why he wanted to be in office despite his health condition.
“Why do you worry yourself that much? You are not even healthy, you are sick. I am bewildered, have you people been corrupted by power that much? You did not get a single cheer yesterday. Who cares if you don’t take a salary? Your own majority MPs say you are incompetent, you only know how to contract loans. Get off!” he said.
“I was expecting you to announce your resignation right after reading the budget,” he added.
The minority in parliament recently moved a motion of censure against Ken Ofori-Atta, citing various grounds, including conflict of interest, mismanagement of the economy, and the reporting of wrong data to parliament.
But appearing before an 8-member ad hoc committee set up to hear the motion, Ken Ofori-Atta categorically denied all seven grounds backing the motion.
But according to Kwame Nkrumah, Ken Ofori-Atta has served his purpose and should walk away.
“You are currently under impeachment. When you recently appeared before the committee, you took turns between your left and right eyes to sleep. What at all are you seeking in this world, I don’t understand. You have already made all the money you need to make. Whatever money you spent on Akufo-Addo you have accrued it back because all government dealings are allocated to Enterprise insurance whiles we have SIC… why do you still want to clinch to power?” he questioned.
Ghana has just concluded its first game in the ongoing FIFA World Cup happening in Qatar.
The game between Ghana and Portugal saw the Cristiano Ronaldo side win controversially with a 3-2 result but that has not taken much away from Ghanaian fans, many of whom have poured out online to express their excitement about the output of the boys.
President Nana Addo Dankwa Akufo-Addo, who was also in Qatar to offer support to the boys, tweeted after the game that he was very proud of the team, looking forward to their next games.
“Gutsy performance by the @GhanaBlackStars in today’s match against Portugal. Very proud of the entire team. They live to fight another day, & have shown they have what it takes to mix it up against any team in the tournament. Looking forward to the next game against South Korea,” he tweeted.
Just as all these celebrations have been going on, a 2014 tweet from Nana Akufo-Addo, who was at the time still trying to become president, has popped up online.
In the tweet, he lamented a number of things that were going wrong in the country at the time.
One of such things he listed in his tweet was the fact that Ghana was yet to get any game-win in the World Cup that was taking place in Brazil.
“No water, no electricity, no petrol, no money, no jobs, no mercy, no World Cup victory! #Ghana,” his tweet, dated July 7, 2014, said.
Ghana is currently going through one of its toughest economic times in history, with nearly every sector of the economy struggling.
See the 2014 tweet by Nana Addo Dankwa Akufo-Addo below:
4. No water, no electricity, no petrol, no money, no jobs, no mercy, no World Cup victory! #Ghana
Public sector workers, Municipal Metropolitans and District Assemblies (MMDAs) have been asked not to give out hampers to their stakeholders this Christmas.
Finance Minister, Ken Ofori-Atta announced this decision on Thursday while presenting the 2023 Budget in Parliament.
The decision forms part of the government’s measures to rationalise its expenditures in the wake of the prevailing economic hardship.
“There shall be no hampers for 2022,” the Minister stated.
Mr. Ofori-Atta further announced the ban on the printing of diaries, notepads and calendars by MMDAs and SOEs from 2024.
“There shall be no printing of diaries, notepads, calendars and other promotional merchandise by MDAs, MMDAs and SOEs for 2024,” he added.
“All non-critical projects must be suspended for the 2023 financial year.”
The Minister said the move is geared towards expenditure rationalisation, in the wake of the economic woes.
In addition to the reduction in expenditure, MDAs, MMDAs and SOEs have been directed to reduce fuel allocations by 50% to government appointees.
“All MDAs, MMDAs and SOEs are directed to reduce fuel allocations to Political Appointees and heads of MDAs, MMDAs and SOEs by 50%. This directive applies to all methods of fuel allocation including coupons, electronic cards, chit systems, and fuel depots. Accordingly, 50% of the previous year’s (2022) budget allocation for fuel shall be earmarked for official business pertaining to MDAs, MMDAs, and SOEs,” he directed.
Government through the Finance Minister, Ken Ofori-Atta has announced some 13 measures to rationalise public expenditure.
According to him, these measures are Cabinet directives that are expected to take effect from January 2023.
This comes on the back of several calls by some sections of the public for the government to cut down its expenditure to salvage the economy.
Currently, Ghana’s economy is under pressure, resulting in higher living costs and galloping inflation.
Presenting the 2023 Budget in Parliament on Thursday, Mr Ofori-Atta stated that the measures are “a first step towards expenditure rationalisation.”
The 13 measures are listed below:
All MDAs, MMDAs and SOEs are directed to reduce fuel allocations to Political Appointees and heads of MDAs, MMDAs and SOEs by 50%. This directive applies to all methods of fuel allocation including coupons, electronic cards, chit systems, and fuel depots. Accordingly, 50% of the previous year’s (2022) budget allocation for fuel shall be earmarked for official business pertaining to MDAs, MMDAs and SOES;
2. A ban on the use of V8s/V6s or its equivalent except for cross-country travel. All government vehicles would be registered with GV green number plates from January 2023;
3. Limited budgetary allocation for the purchase of vehicles. For the avoidance of doubt, purchase of new vehicles shall be restricted to locally assembled vehicles;
4. Only essential official foreign travel across government including SOEs shall be allowed. No official foreign travel shall be allowed for board members. Accordingly, all government institutions should submit a travel plan for the year 2023 by mid-December of all expected travels to the Chief of Staff;
5. As far as possible, meetings and workshops should be done within the official environment or government facilities;
6. Government-sponsored external training and Staff Development activities at the Office of the President, Ministries and SOEs must be put on hold for the 2023 financial year;
7. Reduction of expenditure on appointments including salary freezes together with suspension of certain allowances like housing, utilities and clothing, etc.;
8. A freeze on new tax waivers for foreign companies and review of tax exemptions for free zone, mining, oil and gas companies;
9. A hiring freeze for civil and public servants
10. No new government agencies shall be established in 2023;
11. There shall be no hampers for 2022;
12. There shall be no printing of diaries, notepads, calendars and other promotional merchandise by MDAs, MMDAs and SOEs for 2024;
13. All non-critical projects must be suspended for 2023 Financial year.
Government says it is yet to conclude technical works on the country’s possible debt operations following engagements with the International Monetary Fund (IMF).
The Ministry of Finance in a statement issued on Thursday, November 24, 2022, shortly after the presentation of the 2023 Budget by the sector minister emphasizes, “terms of principal payments and interest on the public debt are still being discussed”.
This clarification comes on the heels of some media reports suggesting that government intends to put interest payments for domestic bondholders on hold and rather introduce some haircuts on international bonds.
The widespread publications point to debt restructuring that will impose a 30 percent haircut on both the principal and interest of foreign bonds while individuals with local bonds will begin receiving interest in full from 2026 after receiving zero, five and 10 percent of interest in 2023, 2024 and 2025 respectively with the principal going untouched.
But the statement from the Finance Ministry maintains that, no such arrangements have been finalized because discussions are still being held.
“Details of the different layers of a debt operation, including the terms of principal payments and interest on the public debt are still being discussed, taking into account recipes of debt. Sustainability and International set practices”, the release read in parts.
“All measures will be communicated by the Ministry of Finance in due course”, it further continued.
Finance Minister, Ken Ofori-Atta during the presentation of government’s economic policy and budget statement for the next fiscal year beginning January 2023 told Parliament, government is considering a debt operation aimed at restoring the country’s debt sustainability and reducing pressures on the national budget.
This he said would also open up financing streams and provide needed balance of payment support from the IMF.
Currently, Ghana is at the doors of the International Monetary Fund institution seeking a US$ 3 billion bailout after a worsening economic situation and cost of living crisis.
Government says it has reached agreed programme objectives with the Fund for the support.
The move has raised issues of possible haircut on some investments as part of debt restructuring measures, despite assurances by President Akufo-Addo that government does not intend to slash the returns made on investments in its negotiations.
“Government of Ghana reiterates its commitment to rolling out a lasting solution to the current economic challenges with the ultimate goal of restoring macroeconomic stability and anchoring debt analysis”, the Finance Ministry concluded in its statement.
A Deputy Ranking Member on Finance Committee in Parliament, Isaac Adongo has taken a dig at the government, following its announcement on cut in hampers, diaries and notepads usually printed by Municipal Metropolitan and District Assemblies (MMDAs) and State Owned Enterprises (SOEs).
Mr. Adongo stated that the country’s problems are way bigger than the cut in these frivolous items announced by the Finance Minister in the 2023 budget statement, on November 24, 2022.
He said the government failed to announce measures put in place to cushion Ghanaians against the hardships they are faced with.
“Ghana’s problems are not about cut in diaries and note pads printing, an economy where people’s businesses are collapsing, an economy where people are struggling to keep their families together. You will have a government that says that I will still put my hands in your pockets, and take twice as I took in 2022, even if your businesses are dying, I don’t care… He came and announced cut in diaries, notepads, and hampers, is the problem of our economy about diaries and hampers?,” he asked on Eyewitness News.
He wondered why the government in its 2023 budget refused to cut down on expenditure, which has taken a toll on the ailing economy.
The Member of Parliament for Bolgatanga Central Constituency in the Upper East Region, fumed on the Eyewitness News, “ordinarily, you would have expected that the government will reduce expenditures, so that the little that it raises, it will be able to manage and get you out of your difficulty.
He stressed, “I have never seen this group of people before, it’s quite clear why the Finance Minister doesn’t want to move. I can’t see any economy in trouble that doubles its expenditure. When we ask you if you are going to cut down on expenditure, you keep talking about diaries, how do diaries and hampers solve our problems?”.
2023 Budget
Presenting the budget, the Finance Minister said, “Mr. Speaker, grants to other government units are estimated at GH¢30,079 million, representing 3.8% of GDP. Mr. Speaker, Capital Expenditure (CAPEX) is projected at GH¢27.694 million representing 3.5% of GDP. Mr. Speaker, Other Expenditure, mainly comprising Energy Sector Levies (ESL) transfers and Energy Sector Payment Shortfalls is estimated at GH¢26,739 million”.
“Total Revenue and Grants is projected at GH¢143,956 million (18.0% of GDP) and is underpinned by permanent revenue measures – largely Tax revenue measures – amounting to 1.35 percent of GDP as outlined in the revenue measures. Mr. Speaker, Total Expenditure (including clearance of Arrears) is projected at GH¢205,431 million (25.6% of GDP). This estimate shows a contraction of 0.3 percentage points of GDP in primary expenditures (commitment basis) compared to the projected out turn in 2022 and a demonstration of Government’s resolve to consolidate its public finances,” Mr. Ofori-Atta stated in the 2023 budget.
“Mr. Speaker, Compensation of Employees is projected at GH¢44,990 million (5.6% of GDP). Mr. Speaker, Use of Goods and Services is also projected at GH¢8,048 million (1.0% of GDP). Mr. Speaker, Interest Payment is projected at GH¢52,550 million (6.6% of GDP),” the budget added.
The Deputy Finance Minister, Abena Osei Asare has said that investments in Treasury bills will not be affected by the debt restructuring announced by the Finance.
Addressing the press after the 2023 Budget, Madam Asare noted that principals of domestic bondholders or instruments will also not be touched.
This, she said has been confirmed during the budget presentation by the Finance Minister, Ken Ofori-Atta.
“T-bills are out of the perimeter of the debt operations. It has been stated clearly,” she assured.
She, however, stated that at the end of the debt restructuring, the Ministry will come out with structures and terms that will ensure that the market corrects itself so that a robust country is built.
The Finance Minister during the 2023 Budget reading, announced plans to restructure Ghana’s debt.
According to him, government will suspend interest payments for domestic bondholders and impose a 30% haircut on foreign bonds.
In the meantime, the Deputy Finance Minister, John Kumah in an interview with JoyNews explained that under the debt restructuring arrangement, domestic bondholders will receive zero interest for 2023.
In the second year, the domestic bondholders will receive only 5% interest and a further 10% interest in the third year. Domestic bondholders can only expect to start receiving their full interest in 2026.
According to Mr Kumah, details of the restructuring will soon be placed before investors.
Meanwhile, the Minority Spokesperson on Finance, Dr Cassiel Ato Forson said the Minority side will reject any attempt by government to pass a law to legalise the restructured arrangement.
He said President Akufo-Addo was dishonest when he announced ‘no haircut.’
Elvis Afriyie Ankrah, General Secretary aspirant of the opposition NDC, has described the constant blame of Ghana’s collapsing economy on the war between Russia and Ukraine as “hogwash”.
According to him, Ghana’s economy started collapsing before the war in Russia-Ukraine started so it is not right for anybody to use that as an excuse to tell Ghanaians that things were going on well but the war brought about hardships.
He said, Ghana’s economy should have turned around when it received money from World Bank and IMF during the pandemic but those handling the affairs decided to share the money among themselves.
Afriyie Ankrah speaking on GhanaWeb’s Election Desk programme noted that, the over 23 billion that came into the country was used to buy the 2020 general elections to make sure that the NPP remains in power.
“When we had the energy crisis, was it not due to exogenous factors? Is John Mahama the one to rain into the Akosombo dam?… Was there Russia-Ukraine when this government realised that the cedi was collapsing, set up an economic advisory something with 30 people including Franklin Cudjoe and co…?” he questioned.
“So, the cedi started performing badly long before Russia-Ukraine. Now, look at the Auditor-General’s report, look at the infractions; at the time we were leaving office in 2016, the cumulative infractions for that year was about 957 million cedis – which for us was horrible – from that time [till now] what are the infractions according to Auditor-General’s report; was it Russia-Ukraine?
“Was it Russia-Ukraine that caused us to have these infractions? Was it Russia-Ukraine that came and made Ken Ofori-Atta that any time we go for Eurobond he…benefits from those transactions such that he goes to the Euro market with that thinking because his company benefits?
“This is complete hogwash. These Russia-Ukraine here and there is complete hogwash. Before Russia-Ukraine came, all the fundamentals started going down.” Elvis Afriyie Ankrah told Edward Smith Anamale.
He continued: “Indeed, the World Bank and IMF warned us that the way we were going about collecting loans was unsustainable and we will get here. Was it Russia-Ukraine that caused us to go and borrow 13 billion cedis… in any case, Ghana benefited from COVID-19…cumulatively over 23 billion came into this economy that should have been a turnaround for this economy.
“You know what they did, they chopped the money; they shared the money…the real root of the problem is that in 2020 these people poured the money and bought the election.”
Elvis Afriyie Ankrah alleged that the Akufo-Addo-led government wanted to win the election at all cost, therefore, they had to be paying people so that they win the elections.
“They paid people, they spent the money; that is the issue that we must face and confront and stop talking about Russia-Ukraine,” he said.
Huang Lei, the son of galamsey kingpin, Aisha Huang, has been remanded by the Accra Criminal Court 5 Division of the High Court to the Nsawam Medium security prison.
This is pending Huang Lei’s trial for immigration offences.
Aisha Huang’s son is standing trial together with another Chinese national, Huang Haihua for staying beyond the expiration of their permits.
Other charges they are facing include the possession of ammunition without lawful authority and the possession of forged official documents.
When they appeared in court on Thursday, November 24, the lawyer for the accused persons, Frank Kumakoh, indicated that the prosecution was levelling charges that were unsustainable by the facts available.
Lawyer Kumakoh made it known to the court that his side will be presenting a bail application soon.
But the prosecution led by Hilda Craig prayed the Court to commit the accused persons to the Nsawam Medium security prison while the case proceeded.
The court, then, ruled that Huang Lei and Huang Haihua, be remanded into the Nsawam prisons.
The Court further directed the Ghana Prison Service to produce the accused persons to the Court on the appointed dates for their trial.
The Ghana Port and Harbor Authority (GPHA) has debunked reports regarding the remuneration of its officers superintending the yet-to-be-constructed Keta Port.
The reports indicated that the said officials are to receive three and half months’ basic salary as bonuses for the year.
GPHA insists that the rationale behind the communique cited in the reports has “erroneously been interpreted and discussed extensively without recourse to GPHA, which has led to a lot of misleading conclusions and total misinformation by the media.”
The authority says the Keta Port is a project under its outfit, therefore the supported workers were appointed from the headquarters to oversee the development.
“The support staff of the Keta Port project are GPHA employees. The Keta Port project is a GPHA project and does not exist in isolation. Staff referenced in the letter are from the three main units. Headquarters. Port of Tema and Port of Takoradi.”
This was contained in a press release signed by GPHA’s General Manager for Marketing and Corporate Affairs Esther Gyebi- Donkor on Thursday.
Although the authority did not deny reports that it is to pay bonuses to some staff, it mentioned that the bonus was a form of appreciation to the staff for their hard work.
“Performance bonus to staff is a normal industry practice for organizations that are able to post positive results and their Management deems it worthy to motivate employees. Indeed, other organizations including public sector agencies also give out bonuses to their staff,” the statement read.
“In the case of GPHA, this is captured in the staff Collective Agreement (CA), and its quantum is negotiated and agreed between Labour and Management at the end of every year before payment is made.”
It could be recalled that a memorandum dated November 17, was signed by the Corporate Human Resource Manager of GPHA, Kwabena Adu Safo disclosed that the authority had received approval for the payment of 3.5 months basic salary, tax inclusive as bonus for the year 2022.
Finance Minister, Ken Ofori-Atta disclosed this on Thursday while presenting the budget in Parliament.
He said the decision is to reflect the current increase in the cost of living.
“In 2023, the feeding grant will be increased to reflect the current cost of living. The programme will also strengthen domestic production by sourcing locally produced food from the National Buffer Stock company,” the Minister said.
The current feeding grant for the caterers is ¢0.97 per child. The caterers have for some months now demanded an increase to ¢3 per child but the government is yet to heed their demand.
A total of 3,448,065 pupils in public basic schools currently benefit from the School feeding programme.
The caterers earlier this year withdrew their services, demanding payment of about GH¢234 million in third-term arrears for the 2021 academic year.
In addition, they demanded an increase in the feeding grant for pupils.
In March 2022, Cecilia Abena Dapaah who was then the Caretaker Minister for the Ministry of Gender, Children and Social Protection announced the suspension of expansion of the Programme to allow debts owed to caterers to be cleared.
“Mr. Speaker, currently the expansion of the programme is on hold. However, we are clearing all arrears of caterers and putting in measures to ensure effective and efficient service delivery to all beneficiary schools and the caterers.
“We are also putting in place a management information system to enhance the efficiency and effectiveness of the system. We shall surely inform this august House when we are ready to expand the programme to cover additional schools,” she said.
Subsequently, in June, Cecilia Abena Dapaah announced that arrears owed to school feeding caterers have been paid.
She said this during a visit to some public schools in the Ashanti Region.
“We are here to make sure, we monitor the quality of food being prepared for the school children. We came here to also talk to the teachers and also the children themselves so that the story will be complete.
“We needed to find out for ourselves if they are actually cooking what they claim to be doing.
“We owed 68 days, we have paid all. The payment has been done,” she said.
The government of Ghana has announced some austerity measures in the 2023 budget.
The Finance Minister, Ken Ofori-Atta has announced a ban on employment for civil servants effective January 2023.
Finance Minister Ken Ofori-Atta told parliament on Thursday, 24 November 2022: “Mr. Speaker, as a first step toward expenditure rationalisation, the Government has approved the following directives which take effect from January 2023: All MDAs, MMDAs and SOEs are directed to reduce fuel allocations to political appointees and heads of MDAs, MMDAs and SOEs by 50%”.
“This directive applies to all methods of fuel allocation including coupons, electronic cards, chit system, and fuel depots”, he clarified.
“Accordingly, 50% of the previous year’s (2022) budget allocation for fuel shall be earmarked for official business pertaining to MDAs, MMDAs and SOEs”, the minister noted.
Also, he announced “a ban on the use of V8s/V6s or its equivalent except for cross-country travel”.
“All government vehicles would be registered with GV green number plates from January 2023”.
Further, there would be “limited budgetary allocation for the purchase of vehicles”.
“For the avoidance of doubt, the purchase of new vehicles shall be restricted to locally assembled vehicles”, the minister noted.
“Only essential official foreign travel across government, including SOEs shall be allowed. No official foreign travel shall be allowed for board members”.
“Accordingly, all government institutions should submit a travel plan for the year 2023 by mid-December of all expected travels to the Chief of Staff”.
“As far as possible, meetings and workshops should be done within the official environment or government facilities”.
“Government-sponsored external training and staff development activities at the office of the president, ministries and SOEs must be put on hold for the 2023 financial year”.
Also, the minister announced a “reduction of expenditure on appointments including salary freezes together with suspension of certain allowances like housing, utilities and clothing, etc”.
“A freeze on new tax waivers for foreign companies and review of tax exemptions for free zone, mining, oil and gas companies”.
“A hiring freeze for civil and public servants. No new government agencies shall be established in 2023”, he added.
Additionally, “there shall be no hampers for 2022”.
2023 BUDGET STATEMENT 1
2023 BUDGET SPEECH
Introduction 1.
Right Honourable Speaker, Honourable Members of Parliament, on the authority of the President of the Republic of Ghana, and in accordance with the requirement under Article 179 of the 1992 Constitution of the Republic of Ghana, I present to you the 2023 Budget Statement and Economic Policy of His Excellency Nana Addo Dankwa Akufo-Addo.
2. Mr. Speaker, I beg to move that this House approves the Budget Statement and Economic Policy of the Government of Ghana for the year ending 31st December, 2023.
3. I also respectfully submit to this House the following statutory reports:
● The 2022 Annual Report on the Petroleum Funds, pursuant to Section 48 of the Petroleum Revenue Management Act, 2011 (Act 815), (as amended); and
● The 2022 Report on the Utilisation of the African Union Levies, pursuant to Section 7 of the African Union Import Levies Act, 2017 (Act 952).
4. Mr. Speaker, this Budget Speech is an abridged version of the 2023 Budget Statement and Economic Policy of Government.
I request the Hansard Department to capture the entire Budget Statement and Economic Policy of Government for the year ending 31st December, 2023.
5. Mr. Speaker, at the outset, permit me to thank you, personally, the leadership of Parliament, Honourable Members of this august House for your individual and collective support, understanding and cooperation the past six years that I have had the honour and privilege to be the Minister responsible for Finance.
6. As we all are fully aware, a lot has happened this year in the economy and more so in recent weeks over my role in the management of the economy.
These are very erratic times and, on behalf of the President of the Republic and, for myself in particular, I am eternally grateful, first, to the leadership of the New Patriotic Party, and the majority leadership and caucus of this House.
And, to the Minority caucus of the National Democratic Congress in Parliament, I thank you, on your decision yesterday to participate fully in the process of passing this budget and, to quote, you stressed how “also mindful” you are “of the timeliness regarding the IMF negotiations and the crucial role a timely presentation of the 2023 budget will play in the advancement” of Ghana’s case in the negotiations with the Fund.
7. I wish to assure this House of my strong commitment and unflinching cooperation in our collective efforts to secure an historic IMF programme very soon; a programme that will assist the country in its post-covid recovery efforts.
Our disagreements notwithstanding, what should never be in doubt, especially in the eyes and ears of the general public, is our common desire to serve the Republic. Our democracy is richer for it.
Let me quote Simón Bolíva;
“In the unity of our nations rests the glorious future of our peoples.”.
8. But Mr. Speaker, The President of the Republic who is in Qatar enjoins us to remember Nehemiah when he said ‘Let us rebuilt the walls of Jerusalem and we will in disgrace.
They replied “Let is start rebuilding”. So they began to work.
9. Mr. Speaker, the year 2022 will go down as one of the most difficult and eventful years in the economic history of our country.
While we continue to deal with the devastating impact of the COVID-19 pandemic which led to significant reduction in our revenues and increased our expenditures enormously, we also have had to contend with the double jeopardy of the Russian-Ukraine war.
What has resulted in unprecedented global crises ravaging all currencies and historic living and inflation levels
10. In the midst of these really challenging times, Parliament has in many, many instances supported Government’s programmes presented to this House.
The eventual passage of the E-levy Act, the Fees and Charges Act, the Exemptions Act and the US$750 million Afrexim Loan, among others, attest to the support received from this august House.
At the same time, the exceptional challenges that the Electronic Levy bill encountered months before it was passed, also attest to the challenges that we must be mindful of going forward.
11. Mr. Speaker, I also wish to express the deep appreciation of Government to the various stakeholders, including Employers’ Associations, Labour Unions, Civil Society, Faith-Based Organizations, Association of Ghana Industries, Ghana Union of Traders Association, Bankers, Academia and Think-Tanks for the support we have received throughout the year, as well as the inputs that have informed and enriched our policy choices. It is, Mr Speaker, when God’s people live together in unity- the Lord bestows His blessings.
A CHALLENGING YEAR
Mr. Speaker, a year ago, I came to present a Budget with significant revenue measures to tackle our fiscal difficulties, finance the transformative agenda of Government and sustain the post COVID-19 recovery. However, what started as a political disagreement over revenue measures in this House, triggered a series of events that significantly undermined the credibility of our budget, consequently leading to serious economic challenges, as investor confidence hit a new low.
13. This manifested in credit rating downgrades which triggered the closure of Ghana’s access to the International Capital Market; tightening domestic financing conditions; and increasing cost of borrowing.
The combined effects of the developments contributed to the rapid depreciation of the cedi and compounded the high debt service levels.
14. Mr. Speaker, our inability to access the International Capital Markets meant that, for the first time in our administration, we did not have the needed foreign currency to complement our forex earnings. ]
We have had to make strenuous efforts to meet our import bill, which exceeds US$10.0 billion annually.
Considering our low foreign earnings, it has been difficult to meet our import requirements including crude oil and petroleum products of about US$400m (GHc4.80 billion) a month.
At the same time, Ministry of Finance still needs to find about US$1.0 billion annually to keep our lights in our homes and workplaces.
15. Mr. Speaker, the demand for foreign exchange to support our unbridled demand for imports undermines and weakens the value of the cedi.
This contributed to the depreciation of the cedi, which has lost about 53.8 percent of its value since the beginning of the year.
Compared to the average 7 percent average annual depreciation of the Cedi between 2017 and 2021, the current year’s depreciation, which is driving the high costs of goods and services for everyone, is clearly an aberration – a very expensive one.
16. The increases in fuel prices (Diesel currently GHS20.5 and Petrol GHS16.8) has led to increases in prices of most goods and services.
Inflation which we managed to bring down from 15.4 percent at the end of 2016 to 7.9 percent at the end of 2019 and remained in single digits till the pandemic hit in March 2020 is now 40.4 percent.
17. It is not only the individuals and households who are adversely affected by the depreciation of the cedi. For us at the Ministry of Finance, the depreciation of the cedi seriously affects our ability to effectively manage our debt.
Indeed, our stock of debt has increased by GHc93 billion this year alone due to the depreciation of the cedi since the beginning of 2022.
Even as the State struggles to raise sufficient revenues, high inflation rates continue to eat away the already meagre wages of the average Ghanaian.
The lesson from this relapse in macro-economic stability makes us even more determined, as your government, to permanently restructure and transform this economy and build resilience.
18. Mr. Speaker, we have been honest with Ghanaians about the economic challenges that the country is facing. H.E. The President pointed out that, never have so many malevolent forces come together, in a perfect storm, to so dramatically impact our lives. The current challenges on the back of two difficult years, since March 2020, have really tested our people and our resolve.
We empathize greatly with all Ghanaians for the undue pressures this has placed on their livelihoods.
We want to commend all of you for your forbearance during these difficult times.
We are confident that together, and with God on our side, we will turn things around.
19. On behalf of His Excellency the President, let me assure all Ghanaians that Government is working to change this negative narrative and demonstrate our resilience as a people and our ability to rebuild for a better future.
We have demonstrated this many times in our country, but more recently between 2017 and 2019. We are resolved that in the next two years, Government would work with you all, with a restless determination, to turn around this economy.
20. Mr. Speaker, in a few hours, the Black Stars will be playing their first game in the 2022 FIFA World Cup tournament in Qatar.
It is clear that we stand united as a nation behind our Black Stars.
A successful passage of the 2023 budget, a successful conclusion of negotiations with the IMF; and, making Ghana’s performance in Qatar 2022, the most successful that is winning the Cup not only for the country but for any African side on the World Cup stage, will, I dare say, bring this most challenging year to a very successful end.
To this, Mr Speaker, we pray. As the bible says ‘behold How good and pleasant it is when God’s people live together in unity! ……… for there, the Lord commands the blessing” Psalm 133 verse 1-3 Resetting Our Economy
21. Mr. Speaker, events since March 2020 have taught us the pervasive volatility of our world today and the wisdom in the vision of President Akufo-Addo to reset our economy through industrialisation.
This budget reflects our resolve to reset the economy and restore macroeconomic stability. But, to do so, we need the support of the people of Ghana and the cooperation and approval of this Parliament.
Our goal now is to significantly enhance revenues, significantly cut down the cost of running government, significantly expand local production, invest more to protect the poor and vulnerable, continue expanding access to good roads, education and health for every Ghanaian everywhere in Ghana and the diaspora.
22. Mr. Speaker, this Budget is, therefore, anchored on a seven-point agenda aimed at restoring macro-economic stability and accelerating our economic transformation as articulated in the Post-COVID-19 Programme for Economic Growth (PC-PEG).
These comprise an agenda to:
i. Aggressively mobilize domestic revenue;
ii. Streamline and rationalise expenditures; iii. Boost local productive capacity;
iv. Promote and diversify exports;
v. Protect the poor and vulnerable;
vi. Expand digital and climate-responsive physical infrastructure; and
vii. Implement structural and public sector reforms.
23. To achieve these, there are three (3) critical imperatives: successfully negotiating a strong IMF programme; coordinating an equitable debt operation programme; and attracting significant green investments.
This will enable us to generate substantial revenue, create needed fiscal space for the provision of essential public services and facilitate the implementation of the PC-PEG programme to revitalise and transform the economy.
24. Mr. Speaker, we will undertake the following actions, initiatives, and interventions under the seven-point agenda.
● To aggressively mobilize domestic revenue, we will among others:
Increase the VAT rate by 2.5 percent to directly support our roads and digitalization agenda; Fast-track the implementation of the Unified Property Rate Platform programme in 2023; and
Review the E-Levy Act and more specifically, reduce the headline rate from 1.5% to one percent (1%) of the transaction value as well as the removal of the daily threshold.
● To boost local productive capacity, we will among others:
cut the imports of public sector institutions that rely on imports either for inputs or consumption by 50% and will work with the Ghana Audit Service and the Internal Audit Agency to ensure compliance;
support the aggressive production of strategic substitutes, including the list disclosed at the President’s last address to the nation;
Support large-scale agriculture and agribusinesses interventions through the Development Bank Ghana and ADB Bank;
introduce policies for the protection and incubation newly formed domestic industries to allow them to make the goods produced here competitive for local consumption and also for exports.
● To promote exports, we will among others: ○ expand our productive capacity in the real sector of the economy and actively encourage the consumption of locally produced rice, poultry, vegetable oil and fruit juices, ceramic tiles among others;
● To pursue efficiency in Government expenditures, we will among others:
Implement the Government directives on expenditure measures;
Integrate public procurement approval processes with GIFMIS to ensure that projects approved are aligned with budget allocation;
Review key government programmes to reflect relevance, promote efficiency, and ensure value for money; and ○ Review the efficiency of Statutory Funds
● To implement structural and public sector reform, we will among others:
Impose a debt limit on non-concessional financing;
Undertake major structural reforms in the Public Sector by reviewing the operations of 36 State-owned Enterprises, 8 Special Purpose Vehicles, 90 Joint Venture Companies, 38 Regulatory institutions, 68 Statutory Bodies and 6 Subvented Agencies;
Enforce compliance with legal and regulatory framework on foreign exchange; ○ Initiate measures to overhaul the tax structures in the extractive industry;
Expand the gold purchase programme by Bank of Ghana to support FX Reserve accumulation, promote an LBMA certified gold refinery in Ghana and promote local currency stability;
● To safeguard the social protection programmes, we will among others: Expand social protection programmes such as LEAP, School Feeding, and NHIS for the vulnerable and socially excluded.
25. Mr. Speaker, last year, I presented our plan to get us back to pre-pandemic macrostability and growth levels. More importantly, I shared the President’s strategy to improve the living standards of Ghanaians and address our central challenge – unemployment.
The strategy was anchored on building a Sustainable Entrepreneurial Nation through fiscal consolidation and Job Creation.
I am happy to report that we have piloted the YouStart Programme and launched the District Level programme.
2023 BUDGET STATEMENT 9
26. Mr. Speaker, we now have the commitment of our banks and development partners and are confident that the GHS10 billion, 1 million jobs will be achieved in the next three (3) years.
27. We are now embarking on a journey to fundamentally reposition our economy with the Post-COVID-19 Programme for Economic Growth (PC-PEG), to be supported by the IMF, World Bank and other friendly sovereigns and the private sector (domestic and international), as our blueprint.
We are mindful that it will require broad-based contributions and sacrifices.
There will be costs to the fiscal adjustments we intend to make in the coming years to sustain our stability, recovery and eventual transformation.
My pledge to this House is that there will be fiscal discipline.
That every pesewa that we ask the Ghanaian people and businesses operating in Ghana to contribute will be spent well.
28. The challenges we face are daunting but we must not lose sight of the greatest strength of being Ghanaian: resilience, entrepreneurial zeal, faith, courage, solidarity and hope.
I, therefore, ask all of us to play a constructive role in getting our nation fully back on track. Ours is a country with real prospects and the challenges notwithstanding, Ghana will rise again, and my faith is premised on the fact that a lot has already been achieved, especially over the course of the Fourth Republic and our policy, as outlined in this budget to reset the economy, if supported will ensure that, indeed, we have not wasted the current global crisis, but used it to make our economy stronger and the progress and prosperity of our people even more assured.
SECTION 2:
GLOBAL ECONOMIC DEVELOPMENTS AND OUTLOOK
Economic Growth and Inflation 29. Mr. Speaker, the global environment is fragile, and the outlook remains uncertain.
Global economic activity in 2022, has slowed down more broadly and sharply than anticipated. Economic growth in Emerging Markets and Developing Economies is expected to slow down from 6.7 percent in 2021 to 3.7 percent in 2022, with a similar pattern expected in 2023.
In Sub-Saharan Africa, growth is expected to slow down to 3.6 percent in 2022 and 3.7 percent in 2023, from 4.7 percent in 2021 due to low investment and a worsening trade balance.
30. Overall, global inflation has risen, driven largely by increases in energy and food prices. Inflation in Emerging and Developing Economies has also risen from an average 5.9 percent in 2021 to 9.9 percent in 2022.
The war in Ukraine has further heightened inflationary pressures.
31. The exchange rates across the major international currencies depreciated rapidly by the end of the third quarter of 2022.
As at 23rd November, 2022, the Ghana cedi depreciated cumulatively by 54.2 percent against the US Dollar. Similarly, the Ghana cedi depreciated cumulatively by a 48.5 percent against the British Pound.
Overview of Macroeconomic Performance (Jan-Sep. 2022)
32. Mr. Speaker, I now present to this august House the provisional macroeconomic performance for the first three quarters of 2022 based on available data for the period.
33. To better assess the macroeconomic developments for the first three quarters of the year, permit me to restate the macroeconomic targets set for 2022 as presented in the 2022 Mid-Year Fiscal Policy Review: Overall Real GDP growth of 3.7 percent;
Non-Oil Real GDP Growth rate of 4.3 percent; End-period inflation of 28.5 percent; Overall fiscal deficit of 6.6 percent of GDP; Primary surplus of 0.4 percent of GDP; and Gross International Reserves sufficient to cover at least three and half months of imports of goods and services.
34. Mr. Speaker, data on the performance of the economy at the end of the third quarter highlights the continued adverse impact of the challenging global and domestic environment on the economy.
As I indicated earlier, these developments have manifested through rapid exchange rate depreciation, high inflation, unsustainable debt burden, fiscal stress and external sector shocks, among others, despite the monetary and fiscal policy interventions that were deployed in the first three quarters of the year.
35. Mr. Speaker, the economic performance for the first three quarters of the year is summarised as follows:
36. Mr. Speaker, provisional GDP data from Ghana Statistical Service (GSS) published in September 2022 indicate that overall Real GDP for the first half of 2022 recorded an average year-on-year growth of 4.0 percent (3.4 percent in Q1 2022 and 4.8 percent in Q2 2022 respectively).
Non-Oil GDP expanded by 4.1 percent and 6.2 percent in the first and second quarters in 2022, respectively.
The latest data indicates that headline inflation accelerated to 40.4 percent in October 2022, from 37. 2 percent in September and 33.9 percent in August.
The rise in the October inflation was broad-based, driven by both food and nonfood prices.
The Monetary Policy Rate has increased by 1,000 basis points (from 14.5% to 24.5%) since the beginning year as the Central Bank deployed its monetary policy tools to anchor inflation expectations;
Developments on the money market broadly showed rising interest rates across the yield curve.
For example, the discount rate on the 91-day instrument has increased to 32.5 percent as at today from 12.5 percent in December 2021;
The Public Debt-to-GDP ratio stood at 75.9 percent at the end of September 2022, up from 76.7 percent at the end of December 2021.
Gross International Reserves (GIR) stood at US$6,591.8 million, equivalent to 2.9 months of imports cover, at the end of September 2022 from a stock position of US$9,695.2 million (equivalent to 4.3 months imports cover) at the end of December 2021.
Fiscal Developments Summary of Fiscal Performance Q1-Q3 2022
37. Mr. Speaker, the 2022 Mid-Year Fiscal Policy Review revised the 2022 fiscal framework against the backdrop of unfavourable global and domestic developments.
The fiscal deficit target was revised to 6.6 percent of GDP down from the 7.4 percent set in the 2022 Budget.
Similarly, the primary balance target was revised upwards to a surplus of 0.4 percent of GDP from a surplus of 0.1 percent.
38. This was on the back of revisions in GDP projections, adjustment in the expected yield from the 2022 revenue measures, adjustments to reflect the 30 percent discretionary expenditure cuts, adjustment in interest payments, and adjustments in the allocation for compensation of employees to incorporate a 15 percent Cost of Living Allowance (COLA), adjustment in exchange rate on account of higher depreciation, and adjustment to the Benchmark Crude oil price.
39. Mr. Speaker, provisional data on Government fiscal operations for January – September 2022 shows a shortfall in revenue performance and a faster execution of expenditures.
This resulted in an overall budget deficit of GH¢41,699 million (7.0% of GDP), against a programmed deficit target of GH¢36,684 million (6.2% of GDP).
The corresponding primary balance for the period was a deficit of GH¢9,597 million (1.6% of GDP), against a deficit target of GH¢5,794 million (1.0% of GDP).
Revenue Performance
40. Mr. Speaker, Total Revenue and Grants amounted to GH¢65,399 million (11.0 percent of GDP), compared with a target of GH¢67,307 (11.4 percent of GDP) and the GH¢49,108 million (10.7 percent of GDP) recorded in the corresponding period in 2021.
The outturn for Total Revenue and Grants represents a shortfall of 2.8 percent compared to the period’s target and year-on-year growth of 33.2 percent.
The shortfall in revenue stemmed from the less robust performance recorded in all the revenue handles for the period.
41. Mr. Speaker, Domestic Revenue for the period amounted to GH¢64,601million (10.9 percent of GDP), falling below the target of GH¢66,503 million (11.2 percent of GDP) by 2.9 percent.
The outturn, however, represents a year-on-year growth of 34.0 percent and constituted 98.8 percent of Total Revenue and Grants.
Expenditure Performance
42. Mr. Speaker, Total Expenditure (including arrears clearance and discrepancy) for the period amounted to GH¢109,421 million (18.5 percent of GDP), above the target 2023 BUDGET STATEMENT
14 of GH¢103,992 million (17.6 percent of GDP) by 5.2 percent. Compensation of Employees amounted to GH¢27,146 million (4.6 percent of GDP), 2.9 percent below the budgetary provision of GH¢27,947 million (4.7 percent of GDP).
The Wage bill constituted 91.3 percent of the total Compensation and amounted to GH¢24,734 million.
43. Interest Payments for the period amounted to GH¢32,101 million (5.4 percent of GDP), against the target of GH¢30,890 million (5.2 percent of GDP) reflecting the higher cost of borrowing and the adverse impact of the currency depreciation on external interest.
Domestic Interest Payments constituted 78 percent of total Interest Payments for the period. Financing Operations
44. Mr. Speaker, the fiscal operations for the period resulted in an overall budget deficit of GH¢44,022 million (7.4% of GDP), against a target of GH¢36,684 million (6.2% of GDP).
The corresponding primary balance for the period was a deficit of GH¢11,921 million (2.0% of GDP), against a deficit target of GH¢5,794 (1.0% of GDP).
45. The fiscal deficit for the period was financed mainly from domestic sources amounting to GH¢37,491 million (6.3% of GDP), accounting for 85.2 percent of the total financing.
Foreign financing for the period amounted to GH¢6,531 million (1.1% of GDP) and accounted for the remaining 14.8 percent of the financing.
Public Debt Developments for January – September 2022
46. Mr. Speaker, provisional debt data as at end September 2022 shows a significant increase in Ghana’s public debt largely due to exogeneous factors.
47. The end-September 2022 provisional figures indicate that total gross public debt stood at GH¢467,371.31 million (US$48,871.34 million), representing approximately 75.9 percent of GDP.
48. The domestic debt component is GH¢195,657.60 million, which is 31.79 percent of GDP, whilst external debt is GH¢271,713.71 million, representing 44.15 percent of GDP.
The increase in the domestic debt is largely on account of rising interest costs. Domestic debt as a share of total public debt reduced from 51.6 percent in 2021 to 41.9 percent as at end September 2022.
49. Mr. Speaker, the external debt as a percentage of the total debt stock is 58.1 percent as at end September 2022.
The sharp growth in the external debt stock is largely driven by the depreciation of the local currency. The depreciation of the Ghana cedi added GH¢93,855.15 million to the external debt stock.
50. Overall, debt accumulation increased from 20.7 percent in 2021 to 32.7 percent as at end September 2022, reflecting the impact of the depreciation of the Ghana cedi on the external debt side.
Outlook for External Sector in 2023 and the Medium Term
51. Mr. Speaker, the external sector performance in the outlook will depend largely on the quick resolution of the Russia-Ukraine war and the outcome of recession fears in advanced economies.
The thrust of the external sector will focus on rebuilding external buffers enough to cover at least three and half months of imports of goods and services to cushion the economy against adverse external shocks.
This will be underpinned by, among others, bilateral support, and strong remittance inflows. Measures by BOG to address the Exchange Rate depreciation
52. Mr. Speaker, the Bank of Ghana will continue to monitor inflation developments and respond appropriately to contain price pressures. Monetary Policy will focus on using the monetary policy rate to, among others, contain inflationary pressures.
53. Since August 2022, the Bank of Ghana has successfully been working with the mining firms, international oil companies, and their bankers to purchase all foreign exchange arising from the voluntary repatriation.
UPDATE ON THE GHANA’S ENGAGEMENT WITH THE IMF FOR A FUNDSUPPORTED PROGRAMME
54. Mr. Speaker, since Government announced its engagement with the International Monetary Fund (IMF or the Fund) for a supported Programme on 1st July, 2022, we have made substantial progress.
The Fund assured Government of its strong commitment and support in these difficult times.
55. Mr. Speaker, Government and the IMF have agreed on programme objectives, a preliminary fiscal adjustment path, debt strategy and financing required for the programme to be in line with the Government’s Post-COVID-19 Programme for Economic Growth (PC-PEG).
The PC-PEG is Government’s blueprint to restore macroeconomic stability, promote debt sustainability, sustain economic recovery and support structural reforms.
2023 and Medium-Term Overall Macroeconomic Targets
56. Mr. Speaker, guided by the medium-term policy objectives, the following macroeconomic targets are set for the medium-term (2023-2026):
i. Overall Real GDP to grow at an average rate of 4.3 percent;
ii. Non-Oil Real GDP to grow at an average rate of 4.0 percent;
iii. Inflation to be within the target band of 8±2 percent;
iv. Primary Balance on Commitment basis to average 0.8 % of GDP in the 2023- 2026 period; and
v. Gross International Reserves to cover at least 4 months of imports.
57. Mr. Speaker, based on the overall macroeconomic objectives and the mediumterm targets, the following macroeconomic targets are set for the 2023 fiscal year:
i. Overall Real GDP growth of 2.8 percent;
ii. Non-Oil Real GDP growth of 3.0 percent; iii. End-December inflation rate of 18.9 percent
iv. Primary Balance on Commitment basis of 0.7% of GDP; and
v. Gross International Reserves to cover not less than 3.3 months of imports.
Resource Mobilisation and Allocation For 2023
Resource Mobilisation for 2023
58. Mr. Speaker, Total Revenue and Grants is projected at GH¢143,956 million (18.0% of GDP) and is underpinned by permanent revenue measures – largely Tax revenue measures – amounting to 1.35 percent of GDP as outlined in the revenue measures.
Resource Allocation for 2023
59. Mr. Speaker, Total Expenditure (including clearance of Arrears) is projected at GH¢205,431 million (25.6% of GDP).
This estimate shows a contraction of 0.3 percentage points of GDP in primary expenditures (commitment basis) compared to the projected outturn in 2022 and a demonstration of Government’s resolve to consolidate its public finances.
60. Mr. Speaker, the following projections underpin the resource allocation for 2023:
Compensation of Employees is projected at GH¢44,990 million (5.6% of GDP).
Mr. Speaker, Use of Goods and Services is also projected at GH¢8,048 million (1.0% of GDP).
Mr. Speaker, Interest Payment is projected at GH¢52,550 million (6.6% of GDP).
Mr. Speaker, Grants to Other Government Units is estimated at GH¢30,079 million (3.8% of GDP).
Mr. Speaker, Capital Expenditure (CAPEX) is projected at GH¢27,694 million (3.5% of GDP).
Mr. Speaker, Other Expenditure, mainly comprising Energy Sector Levies (ESL) transfers and Energy Sector Payment Shortfalls is estimated at GH¢26,739 million.
Budget Balances and Financing Operations for 2023
61. Mr. Speaker, based on the estimates for Total Revenue & Grants and Total Expenditure (including arrears clearance), the overall Budget balance to be financed is a fiscal deficit of GH¢61,475 million, equivalent to 7.7 percent of GDP.
The corresponding Primary balance is a deficit of GH¢8,925 million, equivalent to 1.1 percent of GDP.
62. Mr. Speaker, I wish to notify you that, Budget items such as Interest Payments, Amortisation and Financing will be adjusted accordingly once Government’s debt management strategy and financing to be provided by international partners in the context of the Fund-supported programme have been finalised.
Revenue Measures
63. Mr. Speaker, Government has consistently indicated its intention to improve the revenue collection effort by leveraging technology to enhance tax administration, identify and register taxable persons and improve tax compliance. 64.
Mr. Speaker, Government has received several proposals for review of the Electronic Transfer Levy and is working closely with all stakeholders to evaluate the impact of the Levy in order to decide on the next line of action which will include revision of the various exclusions.
As a first step, however, the headline rate will be reduced to one percent (1%) of the transaction value alongside the removal of the daily threshold.
65. To this end, the income tax regime will undergo reforms to among others, review the upper limits for vehicle benefits and introduce an additional income tax bracket of 35%.
2023 BUDGET STATEMENT 20
Expenditure Measures
66. Mr. Speaker, key expenditure measures will also be pursued to support the fiscal consolidation process.
In this regard, it is proposed that Government:
i. Reduce the threshold on earmarked funds from the current 25 percent of Tax Revenue to 17.5 percent of Tax Revenues;
ii. Migrate all earmarked funds onto the GIFMIS platforms and ensure they use the GIFMIS platform to process all their revenue and expenditures transactions.
v. Continue with 30% cut in the salaries of the President, Vice President, Ministers, Deputy Ministers, MMDCEs, and political office holders including those in State-Owned Enterprises;
vii. Place a cap on salary adjustment of SOEs to be lower-than-negotiated base pay increase on Single Spine Salary Structure for each year;
Fiscal Contingency Planning
67. Mr. Speaker, given the uncertainties about the macroeconomic environment, Government stands ready to deploy additional tools if fiscal outturns require further interventions. On the revenue side, some of the measures that will be identified for the Medium Term Revenue Strategy being designed by Government in the context of the IMF programme could be implemented early on.
On the spending side, MDAs budget allocation for Goods and Services or Domestic CAPEX would be strictly controlled by the quarterly budget allotment system. Key Government Interventions 68.
Mr. Speaker, the present economic challenges have heightened the need to transform our economy through a renewed focus on boosting local capacity for increased export promotion, to expand job creation while protecting the vulnerable.
69. Government is therefore taking active steps to address the impact of these economic shocks on Ghanaians through the seven-point agenda to restore macroeconomic stability and accelerate our economic transformation as articulated in the Post-COVID-19 Programme for Economic Growth.
DEVELOPING LOCAL CAPACITY FOR PRODUCTION
70. Mr. Speaker, as I have already indicated, Ghana’s heavy dependence on imports places tremendous pressure on the Cedi, creating an unfavourable balance of payments position.
On average, Ghana’s import bill exceeds US$10 billion annually and is accounted for by a diverse range of items that include iron, steel, aluminum, sugar, rice, fish, poultry, palm oil, cement, fertilizers, pharmaceuticals, Toilet roll, toothpick, fruit juices, etc.
71. We currently have the capacity as a country to locally produce items that account for about 45 percent of the value of our annual imports. These include rice, fish, sugar, poultry, cement, pharmaceuticals, jute bags, computers, etc.
To this end, Government will target these products for import substitution by supporting the private sector, through partnerships with existing and prospective businesses to expand, rehabilitate and establish manufacturing plants targeted at producing these selected items.
GhanaCARES “Obaatan pa” Programme
72. Mr. Speaker, it has been two years since the launch of the GhanaCARES programme to mitigate the severe impact of the COVID-19 pandemic on the economy.
Significant achievement has been made with the implementation of agreed activities despite the current macroeconomic challenges.
73. Mr. Speaker, the high food prices and pressures on the local currency validates the current focusof the GhanaCARES Programme to bolster the productive and export capacity of the private sector.
To this end, an Economic Enclave project with focus on providing support for the cultivation of up to 110,000 acres of land in the Greater Accra, Ashanti, Central, Savannah and Oti Regions is being pursued.
74. Mr. Speaker, this initiative which seeks to expand our production and productivity in rice, tomato, maize, vegetables and poultry is being led and coordinated by the Millennium Development Authority (MiDA) in collaboration with other Government institutions such as the Ministry of Food and Agriculture (MoFA), Ministry of Energy, Ghana Irrigation Development Authority (GIDA), 48 Engineers Regiment of the Ghana Armed Forces (GAF) under the Ministry of Defence, the National Entrepreneurial and Innovation Programme (NEIP) and the National Service Secretariat (NSS).
75. Mr. Speaker, consistent with the private sector-led approach, the programme will engage interested private sector actors to expand and agricultural production and processing in the Asutuare-Tsopoli Economic Enclave area based on a Partnership Framework.
The same approach will be adopted for the lands secured in the Ashanti, Central, Savannah and Oti regions.
76. Mr. Speaker, we have also initiated discussions with the Graphic Communication Group Limited to explore the feasibility of producing paper locally using the by-products of the cultivated rice in the Economic Enclave at Asutuare as raw material.
It is envisaged that the imports of paper will be replaced, and more jobs created.
77. Mr. Speaker, in addition to the Enclave Project, GhanaCARES programme in 2023 will continue to offer catalytic support in the following targeted areas.
To this end, the programme will:
● work with DBG to provide funding to interested and targeted farmers
● support MoFA to adopt and deploy the farmer registration database for the farmer input subsidy programme to enhance efficiency;
● support the Ministry of Communication and Digitalisation (MoCD) to establish a tech hub to improve knowledge in Technology and innovation by the youth, in collaboration with the University of Ghana;
● ensure the operationalisation of the Foundry under a sustainable private sector management framework;
● provide interest rate subsidies and direct financing; including supporting prioritised sectors in the rural economy through the ARB Apex Bank and its network of banks as agreed under the AfDB-supported Post-COVID Skills and Productivity Enhancement Project.
YouStart
78. Mr. Speaker, in fulfillment of our pledge of building an entrepreneurial state, the implementation of the YouStart programme began this year.
The programme was successfully piloted with 70 beneficiaries and an amount of GH¢1.98 million was disbursed to support youth-led (below the age of 40 years) SMEs in poultry, agro processing, ICT, textiles, and food processing sectors.
79. Government has successfully signed an MoU with the Ghana Association of Banks (GAB) and eleven (11) other commercial Banks for the implementation of the commercial component of the programme.
80. Mr. Speaker, a launch for the District Entrepreneurship Programme (DEP) component of the programme was held on 14th November, 2022 and it is expected that the launch of the Commercial component of the Programme will occur by the end of 2022 to enable qualified beneficiaries access support.
One District One Factory (1D1F)
81. Mr. Speaker, the One-District-One-Factory (1D1F) Initiative continued to make remarkable progress in 2022.
To date, a total of 296 1D1F projects are at various stages of implementation, out of which 126 are currently operational, 143 are under construction, and 27 are pipeline projects.
82. In 2023, Government will intensify support to existing and new manufacturing enterprises with technical assistance, credit facilitation, and access to electricity and other infrastructure. Automotive Assembly Programme
83. Mr. Speaker, in addition to the Automotive Assembly Programme, Government has developed a new Components Manufacturing Policy which seeks to support the local production and supply of components and spare parts for the automotive industry.
The Ministry of Trade and Industry will launch and commence implementation of the policy in 2023 which is expected to expand job creation.
Promotion of Organic Fertilizer
84. Mr. Speaker, the recent global crisis has severely disrupted inorganic fertilizer supply chains.
This has resulted in sharp increases in prices making it difficult for farmers to access the commodity and thus threatening food security.
85. The Ministry of Food and Agriculture is intensifying efforts to promote the local production and use of organic fertilizers.
Further to this, under the subsidy programme, the Ministry has increased the quota for organic fertilizer suppliers to cover the shortfall in supply of inorganic fertilisers.
86. Additionally, Government is facilitating the establishment and the expansion of local organic fertilizer production plants with support from the EXIM Bank.
African Continental Free Trade Agreement (AfCFTA)
87. Mr. Speaker, we will pursue strategically, opportunities that ensure that we take full advantage of the African Continental Free Trade Agreement (AfCFTA) as part of efforts to pursue an export-led economic recovery.
The Ministry of Trade and Industry is working with over 200 Ghanaian companies to facilitate their entry into the African market including about 70 1D1F companies.
Additionally, the AfCFTA Guided Trade Initiative (GTI) has been launched to start commercially meaningful trade.
The products identified for the Initiative include batteries, tea, coffee, ceramic tiles, processed meat products, corn starch, sugar, and pasta, amongst others, in line with the AfCFTA focus on value chain development.
88. Mr. Speaker, the Ghana Export Promotion Authority will enhance its coordination role by facilitating support to key export-sector stakeholders. Export Trade Houses (ETHs) will be established in selected markets to promote made-in-Ghana products brands, including the completion of the first ETH in Kenya.
Additionally, opportunities will be created for local Ghanaian businessmen and investors to invest in export product transformation and value addition at the district level in partnership with the Ministry of Local Government and Rural Development. Development Bank Ghana
89. Mr. Speaker, Government through the Development Bank Ghana (DBG) has established a GH¢500 million special credit programme: the DBG Emergency Economic Programme (DEEP) to support businesses in the agribusiness value chain over the next five years.
The priority sectors are Poultry, Rice & Cereals, Pharmaceutical manufacturing, Tourism, Textiles & Garments for investments to help build economic resilience.
90. Mr. Speaker, to support SMEs with equity funding, DBG is also in the process of establishing a private equity fund with an initial capitalization of about GH¢400m (US$30m).
DBG has fully on-boarded four Participating Financial Institutions (PFIs) and will engage other financial institutions to expand its loan channels.
A total of seven loans amounting to GH¢ 245,322,000.00 was disbursed to SME’s saving over 1,000 jobs.
DBG has partnered with a PFI to build a digital lending platform to shorten the processing time for lending to SMEs and increase its ability to reach a lot more businesses across the country.
Ghana Agricultural Insurance Pool (GAIP)
91. Mr. Speaker, the National Insurance Commission, is spearheading the development of agricultural insurance for farmers through the Ghana Agricultural Insurance Pool (GAIP).
GAIP provides traditional agricultural insurance and indexbased weather insurance products to commercial farmers and small-holder farmers.
An estimated USD$400 million in agricultural insurance will be extended to eligible farmers in 2023.
EXPANDING INFRASTRUCTURE DEVELOPMENT
92. Mr. Speaker, as part of effort to ensure power is affordable for industrial, commercial and residential use, Government has substantially completed a renegotiation and restructuring exercise of Power Purchase Agreements (“PPAs”) with 6 operational Independent Power Producers (“IPPs”), namely, Karpower, Cenpower, Early Power, Twin City Energy (formerly Amandi), AKSA Energy and CENIT Energy.
93. Government has also pursued cost-cutting and green initiatives, including conversion to a tolling model, refinancing of expensive debt, profiling of tariffs and switching power plants from imported liquid fuel to locally produced natural gas as primary fuel.
94. On connectivity to the national grid, a total of 157 communities were linked to the national grid as of September 2022.
The Ministry of Energy will further connect an additional 400 towns under the SHEP-4, SHEP-5 and Turnkey Projects in 2023.
The Coastal Fishing Ports And Landing Sites Redevelopment Project
95. Mr. Speaker, substantial progress has been made in the development of 12 coastal fish landing sites and 2 fishing ports along the coast of Ghana namely, Axim and Dixcove in the Western Region, Moree, Mfantsiman, Ekumfi, Mumford, Winneba, Senya Beraku, Gomoa Feteh and Elmina, in the Central Region, Teshie, Osu and James Town in the Greater Accra Regions and Keta in the Volta Region.
96. Mr. Speaker, overall, the project is about 95 percent complete and will ensure safe launching and landing of artisanal fishing canoes and promote hygienic environmental conditions. Climate Change
97. Mr. Speaker, global warming poses major threats to the economies of climate vulnerable countries like Ghana.
According to the Vulnerable Twenty (V20) Loss and Damage Report, Ghana lost US$15.20billion from 2000 to 2019 to climate change.
According to the World Bank Group’s new Country Climate and Development Report (CCDR) for Ghana, incomes could reduce by up to 40% for poor households by 2050, if urgent climate actions are not taken.
98. At COP27, the Government took the opportunity to leverage its bilateral engagements to expand consultations on debt-for-nature swaps as well as increased private sector investments to accelerate our transition to low carbon growth and finance our climate action measures.
99. Mr. Speaker, I can report that Ghana has assumed the Presidency (from 2022 to 2024) of the Climate Vulnerable Forum (CVF) and Chair of the Vulnerable Twenty (V20) Group of Ministers of Finance.
Government will leverage this opportunity to accelerate our climate agenda which is outlined in Ghana’s Climate Prosperity Plans.
SOCIAL PROTECTION
100. Mr. Speaker, even amidst the current difficulties, we remain committed to implementing Ghana’s social protection programmes.
We will not renege on our responsibilities towards the vulnerable and socially excluded and the implementation of our various social protection programmes will be expanded.
Livelihood Empowerment Against Poverty (LEAP)
101. Mr. Speaker, the Livelihood Empowerment Against Poverty (LEAP) Programme has since its inception in 2008, supported extremely poor and vulnerable households; increasing beneficiary coverage from 143,552 in 2015 to 344,389 households comprising 1,827,035 individuals as of September 2022.
102. Government is committed to expanding coverage to all 2,500,000 extreme poor individuals as estimated by the Ghana Living Standards Survey (GLSS 7) by 2024.
While improving efficiency through digitalisation and assessment, Government will, in 2023, increase the value of the LEAP grant from the average of GHC 41.75 per household to GH¢95.19 bi-monthly.
Ghana School Feeding Programme (GSFP)
103. Mr. Speaker, the Ghana School Feeding Programme (GSFP) which provides one hot nutritious meal each day for 3,448,065 beneficiary pupils in public basic schools as of December, 2021 will be sustained.
104. In 2023, the feeding grant will be increased to reflect the current cost of living.
The programme will also strengthen domestic production by sourcing locally produced food from the National Buffer Stock company.
Capitation Grant
105. Mr. Speaker, the Government abolished the charging and payments of all forms of fees/levies in all public basic schools and replaced them with the capitation grant in 2005.
This has contributed to steady increases in enrollment over the years.
106. Mr. Speaker, Government will continue to strengthen monitoring to address teething challenges in the implementation of the policy which include; timely release of the grant, misuse of funds, transparency and poor book keeping and value of grant amount.
EXPANDING INFRASTRUCTURE
107. Mr. Speaker, in fulfillment of Government’s commitment to improve road infrastructure, the Ministry of Roads and Highways continued its Nationwide Road and Bridge Construction Programme.
108. Works on the La Beach Road Project and the construction of a 3-tier interchange at Nungua Barrier are progressing steadily.
Works on the interchange currently stand at 62 percent.
Construction of the Kumasi Lake Roads and Drainage Extension project is almost complete and stands at 97 per cent.
109. Work is ongoing on the 17.85 km Ofankor Nsawam dual carriage road which is scheduled to be completed in May 2024 110.
Mr. Speaker, dualisation on the Tema – Aflao and the Tema – Akosombo roads has commenced. Works are ongoing on the rehabilitation of Assin Fosu – Assin Praso road including the dualisation of 1.2km of Assin Fosu township roads into a 4-lane carriageway is at 53 percent.
Additionally, works on the reconstruction of Bechem – Techimantia – Akomadan and Agona Nkwanta – Tarkwa roads are at 21 percent and 7 percent completion, respectively.
111. Works on Phase II of the Obetsebi Lamptey Circle Interchange and ancillary work is at 71 percent completion.
Additionally, construction of the Flyover over the Accra-Tema Motorway from the Flower Pot roundabout is 56 percent complete.
112. Mr. Speaker, to improve connectivity within areas cut off by waterways, work on the construction of 50No. prefabricated bridges continued in 2022.
Progress of the new bridge being constructed over River Pra to separate vehicular traffic from the rail along the Twifo Praso-Dunkwa road is at 87 percent completion. 113. Mr. Speaker, the Critical Regional and Inter-Regional Road Projects initiated in 2019 are at various stages of completion. Completed projects include:
● Upgrading of Golokwati-Wli Road;
● Upgrading of Nsuta – Beposo, Lot 3;
● Rehabilitation of Nkonya Wrumpong – Kwamikrom;
● Partial Reconstruction of Bawjiase – Adeiso; and
● Resealing of Tamale – Salaga Road – Lot.
114. Progress on the following roads, among other have achieved significant progress:
● Upgrading of Navrongo – Naga Road
● Upgrading of Wa-Bulenga-Yaala Road
● Upgrading of Salaga – Ekumdipe – Kpandai Road
● Kpandai – Nkanchina Road (10.8km)
● Rehabilitation of Atebubu – Kwame Danso Roads
● Upgrading of Anwiankwanta – Obuasi Road
● Rehabilitation Of New Abirem – Ofoasekuma Road
● Upgrading of Sefwi Wiawso – Akontombra Road
● Upgrading of Akrodie – Sayereso Road
● Rehabilitation of selected roads in Greater Accra.
115. Mr. Speaker, contract works under the Master Project Support Agreement (MPSA) with Sinohydro Corporation Limited are stages of completion:
● Tamale Interchange Project (100%)
● Western Region and Cape Coast Inner City Roads (100%)
● Upgrading of Selected Feeder Roads in Ashanti and Western Regions (100%)
● Construction of Hohoe-Jasikan–Dodi-Pepesu (100%)
116. Mr. Speaker, in 2023, a number of pipeline projects which are at various stages of preparation will be pursued.
These include:
● Construction of Accra – Kumasi Road: Anyinam Bypass;
● Construction of Accra – Kumasi Road: Konongo Bypass;
● Construction of Adidome – Asikuma Junction and Asutsuare – Aveyime including 2No. interchanges at Dufor Adidome and Asikuma Junction;
● Kasoa – Cape Coast Dualisation;
● Dualization of Sekondi and Adiembra Roads;
● Takoradi -Agona-Nkwanta- Apemanim
● Construction of Bridge over the Volta River at Volivo;
● Buipe, Yapei and Daboya Bridges;
● Adawso-Ekyi Amanfrom Bridge; and
● Dikpe, Iture and Ankobra Bridges. Road Financing 117. Mr. Speaker, Government is pursuing the strategic decision to procure the 27.7km of the Accra-Tema Motorway and Extensions Project through the Ghana Infrastructure Investment Fund (GIIF).
A PPP Concession Agreement backed by an appropriate toll arrangement will be presented to Parliament for approval to facilitate its execution.
Provision has also been made in the 2023 and the Medium-Term Budget for the Equity and Viability Gap Funding required by a GIIF Special Purpose Vehicle (SPV) to enable the project to start in earnest in 2023.
The project will be delivered in phases.
118. Mr. Speaker, the iconic nature of the project is such that when completed, there will be five lanes each on both sides of the main Accra-Tema Motorway stretch, 33 and six lanes each on the Tetteh Quarshie-Apenkwa stretch of the road.
The project will include the remodeling of Tetteh Quarshie Interchange, the reconstruction of the Apenkwa Interchange and the construction of new interchanges at the Fiesta Royale cross roads and Neoplan area.
Debt Exchange Programme
119. Mr. Speaker, the Debt Sustainability Analysis (DSA) based on the macroeconomic outlook has been conducted by the Ministry of Finance. It analyzes the country’s capacity to finance its policy objectives and service its debts.
It covers public, publicly guaranteed debt of central government and partial non-guaranteed debt of SOEs.
120. The sustainability of our debt has been continuously affected by the negative impact of exchange rate depreciation, particularly on external debt, as well as the crystallization of significant contingent liabilities in recent years.
The current debt sustainability analysis conducted reveals that Ghana is now considered to be in high risk of debt distress.
121. Mr. Speaker, despite the heightened debt levels, Government remains committed to ensuring that debt is brought to sustainable levels over the medium to long-term.
To this end, we will implement a debt exchange programme to address the challenges identified in the portfolio in collaboration with all relevant stakeholders including the Ghanaian public, investor community and development partners.
122. Furthermore, Government will continue to strengthen its oversight of all SoEs, in particular, financial and energy sectors.
The reforms and discipline at the SoEs will reduce potential fiscal risks from incidence of contingent liabilities.
123. Preferred financing option for projects.
We, however, recognize that there may be cases where non-concessional borrowing may be required to finance critical transformative projects.
Such financing will be determined within limits that are consistent with our debt sustainability programme.
124. We will inform this House, at the Mid-Year Fiscal Policy Review, of projects that will be financed within our non-concessional borrowing limits.
Accordingly, we will not publish any list of projects to be financed from external non-concessional loans in this budget, previously titled ‘Appendix 10C’. Implementation of the Cabinet directives on expenditure measures
125. Mr. Speaker, as a first step toward expenditure rationalisation, Government has approved the following directives which takes effect from January, 2023:
● All MDAs, MMDAs and SOEs are directed to reduce fuel allocations to Political Appointees and heads of MDAs, MMDAs and SOEs by 50%.
This directive applies to all methods of fuel allocation including coupons, electronic cards, chit system, and fuel depots. Accordingly, 50% of the previous years (2022) budget allocation for fuel shall be earmarked for official business pertaining to MDAs, MMDAs and SOEs;
● A ban on the use of V8s/V6s or its equivalent except for cross country travel.
All government vehicles would be registered with GV green number plates from January 2023;
● Limited budgetary allocation for the purchase of vehicles. For the avoidance of doubt, purchase of new vehicles shall be restricted to locally assembled vehicles;
● Only essential official foreign travel across government including SOEs shall be allowed.
No official foreign travel shall be allowed for board members.
Accordingly, all government institutions should submit a travel plan for the year 2023 by mid-December of all expected travels to the Chief of Staff; 2023 BUDGET STATEMENT 35
● As far as possible, meetings and workshops should be done within the official environment or government facilities;
● Government sponsored external training and Staff Development activities at the Office of the President, Ministries and SOEs must be put on hold for the 2023 financial year;
● Reduction of expenditure on appointments including salary freezes together with suspension of certain allowances like housing, utilities and clothing, etc.;
● A freeze on new tax waivers for foreign companies and review of tax exemptions for free zone, mining, oil and gas companies;
● A hiring freeze for civil and public servants
● No new government agencies shall be established in 2023;
● There shall be no hampers for 2022;
● There shall be no printing of diaries, notepads, calendars and other promotional merchandise by MDAs, MMDAs and SOEs for 2024;
● All non-critical project must be suspended for 2023 Financial year
CONCLUSION
126. Mr. Speaker, Government cares deeply about our people, and is very much concerned about their current plight and the future of our country.
The 2023 Budget has been prepared with high consideration for the aspirations of Ghanaians and the brighter prospects of our economy to transition into Upper Middle Income within a decade.
It reflects our determination and resolve to confront the current daunting economic challenges facing our nation head-on and reset the economy.
127. In the immediate term, we will work towards securing an agreement with the International Monetary Fund, execute the debt exchange programme, improve the management of foreign exchange, and support our local productive capacity for food security. We are confident that the measures outlined in this 2023 Budget will redirect us on the path of macroeconomic stability and growth.
128. Mr. Speaker, the mission ahead is for the determined and not the pessimist. We acknowledge that our people have been severely impacted by the current economic challenges. As a responsive Government, we have acted swiftly and boldly by developing the PC-PEG and will work with local and international partners to implement it.
129. Mr. Speaker, the 2023 Budget, will focus on Government’s resolve to structurally transform the economy. We plan to:
● Aggressively mobilise domestic revenue;
● Boost local productive capacity;
● Promote a diversified and vibrant value-added export sector;
● Streamline expenditures;
● Protect the poor and vulnerable;
● Expand digital and physical infrastructure; and
● Implement structural and public sector reforms. 130. We will continue the implementation of key interventions like the YouStart, Economic Enclaves, 1D1F, and Tech Hubs with the limited resources that we have complemented with the support from Development Bank Ghana.
131. Specifically, on the YouStart, we intend to support 30,000 youth and under the Economic Enclaves, we intend to develop 110,000 acres of land for rice maize, soya bean as well as poultry. Funding will be sought from the GHc500 million DBG fund and GoG sources. We will also be aligning support from our development partners to boost growth in the real-sector, focusing mainly on agriculture, entrepreneurship and value addition.
132. Mr. Speaker, as I have indicated it has become even more urgent to mobilise domestic revenue especially in times like this when our access to the international capital market is largely closed. We urgently need to restore debt sustainability, macroeconomic stability and grow the economy. As a responsible Government, we will take the hard, unpopular, but necessary decisions to build back better and emerge stronger.
133. Mr. Speaker, post-COVID, we identified the need to ramp-up our domestic revenue mobilisation efforts to match the performance of our peers and finance our development agenda. Last year, we started with the E-Levy which has not yielded the resources as expected.
134. Mr. Speaker, we know that we have to:
● Keep the lights on at the cost of US$1billion annually;
● keep the hospitals running and ensure that the over 15.5m Ghanaians on NHIS are properly catered for;
● Keep our schools running and pay the over 300,000 teachers every month;
● Keep our hospitals running and pay the over 119,000 nurses every month;
● Keep the law courts open and ensure timely access to justice; and
● Keep the local assemblies working to deliver essential social services to our people.
135. Mr. Speaker, it has also become clear that we cannot take the territorial integrity and internal cohesion of our country for granted. In the last couple of years, we have invested significantly in retooling the security sector to maintain territorial integrity and improve internal security (we have procured CCTV cameras, motor bicycles, vehicles,
Forward Operating Bases, and recruitment of security personnel among other interventions). We can all attest that police visibility has increased tremendously.
136. Mr. Speaker, our ability to continue to deliver all these critical public services will require significant resources and we believe that together we can raise the necessary revenues to implement them.
137. Mr. Speaker, the demand for roads has become the cry of many communities in the country. Unfortunately, with the current economic difficulties and the absence of dedicated source of funding for road construction, it is difficult to meet these demands.
In that regard we are proposing the implementation of new revenue measures. The major one is an increase in the VAT rate by 2.5 percentage points.
138. This increase is expected to yield GHc2.70 billion which will be used to augment funding for our road infrastructure development. This will be complemented by a major compliance programme to ensure that we derive the maximum yields from existing revenue handles.
139. Mr. Speaker, in this Budget, we have highlighted the need for robust public sector reforms to complement the existing public financial management regime.
Here, the focus is to introduce private sector participation in the retail sub-sector of the Energy Sector to reduce system losses and improve delivery of service for Ghanaians.
140. Mr. Speaker, this afternoon, the senior National Team, the Black Stars, will be representing our nation for the fourth time at the Football World Cup in Qatar.
Let us continue to bear them in prayers and offer our support. Working together after missing the last tournament, we have risen again and taken our place on the world stage.
141. Mr. Speaker, we must be inspired by the re-emergence of the Black Stars on the world stage. We must work together to ensure that our economy rises again to the comfort of our people.
This Budget offers us a better opportunity to jointly work towards rebuilding the economy and rediscovering our providential way towards our manifest destiny.
142. Together let us arise!
143. Mr. Speaker, let us not squander the opportunity to turnaround, and reset our economy and create a bright medium-term for our country and its people. This is the time to rebuild, not to destroy and tear down. Let us work together for our collective benefit as is said in Nehemiah 2:18, with unity of purpose, service to the Republic, and the abiding grace of God.
144. Mr. Speaker, I repeat, Mr. Speaker, N) fiaa n) baa hi!! 145. Mr. Speaker, let us go forward, believing in the assurance of the Psalmist that “For the sake of the house of the LORD our God, I will seek your prosperity”. 146. Mr. Speaker, I present to you the ‘NKABOM’ Budget.
