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Tag: Kojo Oppong Nkrumah

  • FLASHBACK: ‘If I were you, I would be selling my dollars by now’ – Oppong-Nkrumah hints on $2bn injection into economy

    Kojo Oppong Nkrumah, the information minister, asked Ghanaians to start selling their dollars around two months ago because the depreciation of the cedi will be dealt with.

    He claims that the nation was anticipating around 2 billion dollars, which will likely support the cedi.

    The lending facility was composed of a $750 million loan from Afreximbank and a $1.3 billion loan from Cocoa Syndicated.

    In August, when the cedi was trading for more than GH$10 at several bureaus, he made the assertion.

    Despite receiving the $750 million loan from Afeximbank, the cedi now trades above the Ghanaian dollar.

    The Information Minister has encouraged Ghanaians to heave a sigh of relief as government is expected to inject about $2bn into the ailing economy.

    Kojo Oppong-Nkrumah noted in an interview with Citinewsroom that this means the rapid fall of the cedi will be a thing of the past, shortly.

    Since the start of this year, the Ghana cedi has suffered persistent depreciation against major trading currencies, especially the US dollar.

    As of July, this year, the cedi lost its value by more than 20 percent. The local currency is now trading above GH¢10.00 to one US dollar on the exchange rate market.

    But the minister allaying the fears of citizens revealed that while 750 million dollars is expected from the Afremix Bank this week, the cocoa syndicated loan will add $1.3 billion. These monies, he said, are expected to hit the Bank of Ghana’s account.

    “The Bank of Ghana introduced a number of measures in the short term to deal with it and on the back of that… the $750 million that we were expecting, all the paperwork has been concluded, and it should be hitting our accounts today or tomorrow,” he said.

    “If I were you, and I was holding onto dollars, I would be selling them by now because there is a lot more dollar coming in from the $750 million and also from the Cocoa Syndicated Loan of about $1.3 billion,” the minister added.

    According to Oppong-Nkrumah, the move forms part of government’s expectation of “quick stabilisation” of the economy.

    A recent currency performance ranking by Bloomberg showed that the cedi was classified as the worst performing currency in the world after Sri Lanka’s Rupee.

    The Bank of Ghana has assured that it is implementing measures including increasing foreign currency (FX) supplies to banks in the short term to help meet growing FX demands for external payments.

  • Oppong Nkrumah welcomes ‘no EU ban on Ghanaian cocoa’ report

    Information Minister, Kojo Oppong Nkrumah, has welcomed news from the European Union (EU) that there is no ban on cocoa from Ghana.

    He described the report as “good news.”

    “The process of improving the quality of Ghanaian cocoa should be a mutually agreed path that aligns our common interests. Good news,” the Ofoase Ayirebi lawmaker tweeted after the EU Ambassador to Ghana, Irchad Razaarly said Europe is not banning Ghana’s cocoa.

    Mr Irchad Razaarly said the EU rather wants more of Ghana’s cocoa.

    Speaking at the second Edition of Orange Cocoa Day 2022 in Accra, the European Union Ambassador to Ghana, Irchad Razaarly said, “The call for more sustainable cocoa production is growing globally. And our citizens in Europe are increasingly demanding measures for ensuring that cocoa and other commodities are produced in a socially environmental sustainable way. This explains EU’s legislation on afforestation and forest degradation and must not be seen as a threat to Ghana’s cocoa.”

    “There is no ban on Ghana’s cocoa. On the contrary, we want more of Ghana’s cocoa, and we are in support of Ghana and Côte d’Ivoire amongst all of the producers who meet these requirements,” she said.

    Earlier, Mr Oppong Nkrumah revealed that the Ghana Embassy in Belgium under the leadership of Ambassador Sena Boateng, has brought to the attention of the Government of Ghana that in Europe, there is a new legislation that could soon make Ghanaian cocoa and coffee unexportable to many international markets.

    Mr Oppong Nkrumah further indicated that the Embassy has also commenced work on realigning Ghanaian and European interests in cocoa and coffee.

     

    Source: Ghanaweb

  • Sustainability requirements shouldn’t be a ruse to block our cocoa, coffee – Oppong Nkrumah

    Kojo Oppong Nkrumah, the Minister of Information, has urged the European Union (EU) to collaborate with ACP nations to avoid burdening the local cocoa and coffee industries with its proposed ethical and sustainable supply chain requirements.

    Though the new legislation is a means of promoting better practices within the cocoa and coffee subsector, Nkrumah argues that it is more crucial that the EU collaborate with ACP nations to achieve these sustainability standards because failing to do so runs the risk of driving players within the value chain out of business.

    He made the call when he chaired a two-day forum on the future of Ghanaian cocoa and coffee value chains in the face of this new EU legislation at the “Alliances in Ghana: Coffee and Chocolate at the table” in Brussels, Belgium organized by the International Trade Centre (ITC) and the Ghanaian Mission in Brussels last week.

    “At a time where farmlands are coming under threats for competing and more rewarding economic activities, sustainability is a matter that requires some more attention. By no means however should sustainability be used as a pretext to limit market accessibility. Exchange of best practices and technical assistance is necessary so that we can have a win-win situation in all of this,” he said.

    “Farmers deserve a recompense for their hard work and should not be left out in any business or policy negotiation. Their social reality and cultural context must be considered when designing legislation so they may meet their demands and not bear a disproportionate burden for complying with the regulation,” he said.

    EU lawmakers have backed a proposal for a law that will ban the sale of agriculture products linked to the destruction of forests, and human rights violations. The bill was supported by 453 votes, to 57 with 123 abstentions.

    The EU Parliament will now start negotiations on the final text with EU member states.

    Once approved, the law would force companies and producers to give assurances that products are deforestation-free and meets EU’s sustainability standards.

    Businesses will be forced to verify that agricultural goods sold in the EU have not been made on deforested or degraded land anywhere in the world.

    This, Mr. Oppong Nkrumah said could soon make Ghanaian cocoa and coffee unexportable to many international markets within the 27-nation bloc.

    He said Ghana must act quickly to ensure the two industries meet the interests of European markets else millions of households and the economy in general could be significantly affected by this proposed legislation.

  • Hopeson Adorye tackles Nana Ama Mcbrown on United Showbiz

    Nana Ama Mcbrown received her fair share of critique when immediate past CEO of 3Music Networks, Baba Sadiq, and NPP Kpone Katamanso Parliamentary candidate, Hopeson Adorye threw verbal punches at each other during UTV’s United Showbiz program.

    The popular actress who doubles as the United Showbiz host wasn’t spared by Mr. Hopeson Adorye who labeled her as ‘biased’ for sitting aloof while Baba Sadiq disrespected him.

    Sadiq poked the NPP stalwart while claiming that he has freely offered himself to run the party’s ‘dirty jobs’.

    His comments were necessitated by Mr. Adorye’s claim that Baba Sadiq was part of an agenda that saw to the recruitment of some 75 young men from Fadama to heckle President Nana Addo Dankwa Akufo-Addo at the Global Citizen concert.

    Hopeson Adorye, alleged that Sadiq, together with the likes of NDC’s Alhassan Suhuyini, and Larry Dogbe bused these 75 young men to the venue purposely to hoot at the president.

    “Sadiq of 3Music Awards is an industry player and has a connection with the lead organizers, he and Larry Dogbe and Suhuyini met at a particular place to plan. They contracted 75 boys from Fadama and paid each one of them GH¢120. The videos trending is a testament to it. It was from one particular shot,” he stated earlier in an interview with Accra FM.

    In a bid to debunk the said claims, an infuriated Baba Sadiq went berserk and threw jabs at the NPP politician.

    “Even people in his party are telling me to forget about him and that he isn’t well. You look at a young man who is working very hard and you want to trash him. I am not just an industry player; I am an investor. It is not a free event.

    “He thinks it is a free event that people were bused to the venue. You’d have to go online, answer some questions and it will direct you to an IP. The data of every single person that attended the event has been recorded.

    “At your level and age, don’t put yourself in a situation where people will have to disrespect you. Kojo Oppong Nkrumah, Sammy Awuku and Samuel Jinapor came to meet you, why is it that when there is a dirty job it has to be you and not them,” he stated on UTV’s United Showbiz.

    But in the heat of the moment, Mr. Adorye called out the host, Nana Ama Mcbrown, for allowing Baba Sadiq speak of him in such manner.

    “You made me sit here patiently just to listen to this stupid talk, the lies and disrespect from this young man. How can you condone such?

    “I could have equally spewed rubbish but I chose to remain calm and that doesn’t mean I am stupid. I am not happy about how you handled this issue at all. Let me state on record that I don’t like how you handled this,” he remarked in Twi.

    Watch the video below:

    Source:ghanaweb.com

  • IAA to hold 5th edition of Africa Rising Leadership Conference

    The International Advertising Association (IAA) together with its partners; Google, CNN, Nedbank, MTN, Brand Finance, Teads & Women in Marketing is set to hold another impactful edition of the Africa Rising Leadership Conference.

    The 5th edition of the conference, which since its inception has immensely contributed to the growth of brands on the continent, will be held at the Labadi beach hotel on October 4 and 5.

    This two-day event will assemble the most skilled and influential speakers and panelists from across the globe, including; World President of the IAA, Joel Nettey; Founder/Managing partner, O. Kayode and Co, Lara Kayode; Information Minister, Kojo Oppong Nkrumah; Group CMO of Databank, Gillian Hammah; Chief Brand Officer for Morderna, Kate Cronin; and a host of other great speakers who have extremely excelled in the Marketing, Communication, Finance and other industries.

    It will be held on the theme: “Brands for Purpose, Brands for People.”

    About IAA’s Africa Rising Leadership Conference

    IAA’s Africa Rising Leadership Conference, is an annual event that offers existing and emerging brands a unique platform to consult and work together with some of the best brains in marketing, communication, media, finance and education.

    The conference, over the years, has immensely transformed brands, by providing priceless knowledge and invaluable information to participants.

    Highlighting the significance of the conference and the rationale behind this year’s theme, Vice President/Area Director, IAA Africa, Norkor Duah, stated that, “Africa as a continent, though hit by the global pandemic, did not record as many losses of lives and spread of virus as perceived.

    Vice President/Area Director, IAA Africa, Norkor Duah.

    “The economic front as in every part of the world has been hit and most businesses have evolved into new strategies and ways of reaching their consumers as well as doing business. The onset of this pandemic also opened the eyes of consumers who believe in brands that are focusing on them and their communities,” she said.

    Additionally, she mentioned that “this year’s theme will highlight brands that have not only chalked success in the areas of growth but in their ability to make a difference in their communities and will dissect a vast range of topics from Social Progress and Commercial growth, Digital Transformation, Diversity and Inclusion, Opportunities for Young Professionals, Leadership, and what brands are doing to stay relevant as well as explore insights from local strategies that will serve as a key factor to the continent’s revival.”

    Source: The Independent Ghana | Jessie Ola-Morris

     

  • Ghana gives higher returns on investments – Oppong Nkrumah

    The Minister for Information, Kojo Oppong Nkrumah, has rallied investors at the just ended Ghana-Canada Investment Summit (GCIS) to consider the huge opportunities in the country and direct their investment here for higher returns.

    Addressing the diaspora investor community at the 6-day summit organised by the Ghana Investment Promotion (GIPC) in Toronto, Canada on Thursday September 15, 2022, the Minister said the stable political atmosphere, coupled with the vast investment opportunities in the country, makes Ghana an investment destination of choice than its counterparts on the continent.

    “As the host of the African Continental Free Trade Agreement (AfCFTA), Ghana has been placed in pole position to lead Africa’s economic and financial renaissance. This means that when you come back and do business in Ghana, and with Ghana, you are only opening your own door to access the entire African continent. I want to encourage you to come and invest in Ghana. We look forward to seeing you soon,” he said.

     

    Mr Oppong Nkrumah, who is also Member of Parliament for Ofoase/Ayirebi, described the country as a fertile ground for investment where businesses thrive due to its stable economic atmosphere urging prospective investors, especially from Canada, to consider Ghana as the gateway to a wider African market.

    He said Ghana has a wide range of investment vehicles available for every investor class which offer higher returns than other African countries. Citing the high returns in investment in equity markets and the high yields on Government of Ghana bonds, the Minister assured the diaspora investor community of guaranteed returns should they choose Ghana as their investment destination.

    Further, Mr Oppong Nkrumah called on the diaspora investors to invest in the Ghanaian economy because as Ghanaians in the diaspora, they have a crucial role to play towards the growth and development of the country.

    The Ghana-Canada Investment Summit brought together delegates from the international investor community especially from Canada, venture capitalists and private equity fund managers amongst others for in-depth discussions and exploration of viable investment opportunities within various sectors of the Ghanaian economy. It was also aimed at matching diaspora, Canadian investors and local entrepreneurs and create awareness of the potential of Diaspora Direct Investment while increasing trade between Ghana and Canada.

    Also present at the Summit were a number of state officials, including the Ministers of Foreign Affairs and Regional Integration, Shelly Ayorkor Botcwey, Minister of Communication and Digitalisation, Ursula Owusu-Ekuful, the Minister for Tourism and Culture, Dr Awal Ibrahim Mohammed, GIPC boss, Yofi Grant and other well-known dignitaries.

    Source: Ghanaian Times

  • Ghana’s investment returns are higher – Information minister

    Kojo Oppong Nkrumah, the minister of information, has urged potential investors to view Ghana as the entry point to the African market.

    He characterized the nation as an ideal place for investment, where companies flourish as a result of the country’s stable economic climate.

    The Minister made this statement last Thursday in Toronto, Canada, at a 6-day summit for the diaspora investor community that Ghana Investment Promotion (GIPC) had arranged.

    He claimed that because of its stable political climate and abundance of investment opportunities, Ghana is a superior investment destination than its peers on the continent.

    The Minister said as the host of the African Continental Free Trade Agreement (AfCFTA), Ghana has been placed in a pivotal position to lead Africa’s economic and financial renaissance.

    “This means that when you come back and do business in Ghana, and with Ghana, you are only opening your door to access the entire African continent. I want to encourage you to come and invest in Ghana,” he added.

    Mr. Oppong Nkrumah stated Ghana has a wide range of investment vehicles available for every investor class which offers higher returns than other African countries.

    He assured the diaspora investor communities of guaranteed returns should they choose Ghana as their investment destination, citing the high returns in investment in equity markets and the high yields on Government of Ghana bonds as salient reasons for investors to focus on Ghana.

    For in-depth discussions and the exploration of viable investment opportunities across the Ghanaian economy, the Ghana-Canada Investment Summit brought together delegates from the international investor community, particularly from Canada, venture capitalists, and private equity fund managers, among others.

    Additionally, it was designed to increase trade between Ghana and Canada by bringing together local entrepreneurs, Canadian investors, and members of the diaspora.

  • Ghana gives higher returns on investments – Oppong Nkrumah

    At the recently concluded Ghana-Canada Investment Summit (GCIS), the Minister of Information, Kojo Oppong Nkrumah, urged investors to take into account the vast prospects in the country and focus their investments here for higher returns.

    Addressing the diaspora investor community at the 6-day summit organised by the Ghana Investment Promotion (GIPC) in Toronto, Canada on Thursday September 15, 2022, the Minister said the stable political atmosphere, coupled with the vast investment opportunities in the country, makes Ghana an investment destination of choice than its counterparts on the continent.

    “As the host of the African Continental Free Trade Agreement (AfCFTA), Ghana has been placed in pole position to lead Africa’s economic and financial renaissance. This means that when you come back and do business in Ghana, and with Ghana, you are only opening your own door to access the entire African continent. I want to encourage you to come and invest in Ghana. We look forward to seeing you soon,” he said.

    Mr Oppong Nkrumah, who is also Member of Parliament for Ofoase/Ayirebi, described the country as a fertile ground for investment where businesses thrive due to its stable economic atmosphere urging prospective investors, especially from Canada, to consider Ghana as the gateway to a wider African market.

    He said Ghana has a wide range of investment vehicles available for every investor class which offer higher returns than other African countries. Citing the high returns in investment in equity markets and the high yields on Government of Ghana bonds, the Minister assured the diaspora investor community of guaranteed returns should they choose Ghana as their investment destination.

    Further, Mr Oppong Nkrumah called on the diaspora investors to invest in the Ghanaian economy because as Ghanaians in the diaspora, they have a crucial role to play towards the growth and development of the country.

    The Ghana-Canada Investment Summit brought together delegates from the international investor community especially from Canada, venture capitalists and private equity fund managers amongst others for in-depth discussions and exploration of viable investment opportunities within various sectors of the Ghanaian economy. It was also aimed at matching diaspora, Canadian investors and local entrepreneurs and create awareness of the potential of Diaspora Direct Investment while increasing trade between Ghana and Canada.

    Also present at the Summit were a number of state officials, including the Ministers of Foreign Affairs and Regional Integration, Shelly Ayorkor Botcwey, Minister of Communication and Digitalisation, Ursula Owusu-Ekuful, the Minister for Tourism and Culture, Dr Awal Ibrahim Mohammed, GIPC boss, Yofi Grant and other well-known dignitaries.

     

  • No heartbreak trumps this Oppong-Nkrumah consoles Bernard Avle

    The Minister of Information, Kojo Oppong-Nkrumah has pleaded with the general public to remember Bernard Koku Avle in prayers after the Citi FM morning show host lost his wife, Wednesday.

    Justine Avle is reported by multiple online platforms as having died on August 3, 2022, after a short illness.

    Many social media users have expressed their condolences following the shocking news, praying for strength for the journalist.

    In a tweet, Mr Oppong-Nkrumah who until becoming a politician was a broadcaster said the news was devastating.

    “Spent some time with Koku this afternoon. No heartbreak trumps this. Please say a prayer for strength for him and the kids,” the tweet which had the picture of the bereaved and the deceased read.

    Bernard Avle, General Manager of Citi FM married Justine in 2011. Their 11-year-old union saw them give birth to five, reports say.

    Mr Avle, whenever he is heard talking about his wife on air, always referred to her as his biggest inspiration.

    Source:ghanaweb.com

  • Mid-Year Budget Review to roll out measures to fast-track economic recovery Government

    Government has hinted that the Mid-Year Budget Review to be presented by the Finance Minister on Monday 25th July, 2022 will seek to roll out additional measures to fast-track the recovery of the Ghanaian economy.

    According to Information Minister, Kojo Oppong Nkrumah, the Finance Minister will give an update up till June 2022 about the fiscal position of the government.

    Speaking in an interview with Joy Business, he said the government will also introduce measures that will cushion Ghanaians against shocks from the rising prices of goods and services, among others.

    “The Finance Minister will give us the latest update, maybe up to about March 2022 or up to about June 2022 about the fiscal position of the country. That is debt, revenue, expenditure, financing, macroeconomic targets, and all that.”

    “Secondly, we would hear about government economic policies. Do we want to change some of the economic policies we came to the table with at the beginning of the year?” Mr. Oppong Nkrumah pointed out.

    The Information Minister again argued that the economic challenges facing the country is due to the global shocks as a result of COVID-19 and the Russian-Ukraine war.

    Meanwhile, Joy Business is learning that the Finance Minister will be seeking to review all the targets of the macro-economic indicators announced in the 2022 Budget.

    Mr. Ofori-Atta will also update the public on current negotiations with the IMF for an Economic Programme.

    He will also announce measures that will also help check fiscal slippages in the next five months.

    The Minister will similarly give more details on the one billion dollars Syndicated Loan currently before the Finance Committee for approval.

    Source: MyJoyOnline

  • Terrorism: Information Minister outlines things to be on the lookout for

    Citizens have been notified of procedures to take as the government strives to enhance the country’s security against terrorist attacks, according to Information Minister Kojo Oppong Nkrumah.

    He warned Ghanaians to remain attentive about anything out of the norm, during a press conference on Sunday, May 22.

    But those of particular interest, the Minister said, include:

    •  Non-residents seen mobilizing youth or circulating extremist material in person or virtually, with the objectives of whipping up sentiments to attack people are public installations. 
    • Abandoned packages in public places.

    Individuals who observe any peculiar activity, Mr Oppong Nkrumah said, should draw the attention of the Police, other security agencies and local community leaders immediately.

    Meanwhile,  Edward Asomani, the Deputy National Security Coordinator, has revealed that the government will on Tuesday launch the “See something, say something” campaign.

    This campaign will enable Ghanaians to report any unusual activity to the security agencies by dialing 999.

    “When you ring, you don’t even need to identify yourself because we have some individuals who are worried about identifying themselves when giving information,” he said.

    He told Ghanaians not to regard any information they find as irrelevant.

    “Let the security and intelligence agencies take that decision,” he added. 

    According to Mr. Asomani, the government is on top of the situation and remains unshaken; but, for Ghana to have a chance against terrorism, all citizens must help.

    Meanwhile, the Ministry of National Security has advised religious leaders to beef up security in their various places of worship across the country.

    Terrorist groups have been targeting public gatherings in the sub-region, necessitating increased security at places of worship, according to a press release issued by the Ministry on May 12.

    Source: The Independent Ghana

  • Make use of RTI; Oppong Nkrumah tells academia and media

    Information Minister, Kojo Oppong Nkrumah has charged academia as well as media practitioners to utilize the RTI law, Act 989, to obtain reliable information from state institutions for their work. 

    Answering questions in Parliament on Tuesday, Mr Nkrumah said the law which imposes an obligation on public institutions to provide information to applicants is being underutilised.

    “Mr Speaker, may I take advantage of the opportunity given me to reach out to the whole country, particularly the academic community. A lot of our young people have complained about difficulties in getting access to information when they are preparing their dissertations and so on because a lot of institutions operate as though they are doing you a favor. 

    “The RTI Act gives you legal cover to apply for information from public institutions for academic purposes.. Also to our colleagues in the media, we want to encourage a lot more use of the Act and a lot less resort to speculation and hearsay. The RTI Act grants you to by law access to information for purposes of media work,” he added. 

    The Minister was providing updates on the progress of the implementation of the law since its inception in 2020 on the floor of Parliament on Tuesday, March 15, 2022.

    The law he said allows both media practitioners and persons in academia to get access to credible information with which they can use in dissertations and media works.

    He said the law since its introduction has made remarkable progress noting that from the time the implementation of the law commenced to date, a total of two hundred and twenty-three (223) RTI requests have been received so far by public institutions.

    This he indicated that per interim figures collated from the various RTI offices of state institutions in 2021 alone, a total of one hundred and twenty-nine (129) requests for information were submitted by individuals and institutions and were received by 47 institutions. Out of this number, 87 were received from individuals while 42 were received from institutions.

    In 2022, a total of ten (10) requests for information were submitted by individuals and institutions and received by seven (7) public institutions as at the end of January 2022. Out of the ten (10) applications received, 5 (50%) were received from individuals while 5 (50%) were received from institutions.

    Source: ghanaiantimes.com.gh

  • TV Licence fee abandoned Oppong-Nkrumah

    The government has abandoned the current system of collecting TV licence Information Minister-designate Kojo Oppong-Nkrumah has said.

    Instead, the proposed Digital Access Fund would be used to replace TV license fee.

    Mr Nkrumah said this when he took his turn to respond to questions from members of the vetting committee of parliament on Thursday, 18 February 2021.

    The TV License Fees which was established by the Television Licensing Act 1966 (NLCD 89) was re-introduced in 2015 to ensure TV owners pay fees.

    The Akufo-Addo led government in 2018 made the payment mandatory and insisted on prosecuting offenders.

    Many Ghanaians kicked against it arguing that the money will be given to the state broadcaster (Ghana Broadcasting Corporation), which provides content they see as less useful.

    Answering further questions on the operations of GBC, Mr Nkrumah said when he took office as Information Minister, GBC was owing GHS 25 million and suggested that the state should bear some of the cost of live broadcast of state functions through the Ministry of Information.

    The status of the Broadcasting Bill and recent attacks on journalists were some of the questions the Committee asked the nominee. Mr Nkrumah assured the Committee that work is being done on the Broadcasting Bill to make it possible for media owners who want to operate websites and other social media networks to register with the National Media Commission (NMC) just like the newspapers.

    On other matters, the nominee hinted that there will be an update on the COVID-19 vaccines and how it would be rolled out today while assuring the Committee that the Presidential Task Force on COVID is working to fight the pandemic.

    Source: Class FM