Focus on global markets – Camidoh tells Ghanaian musicians

Afrobeats sensation, Camidoh is asking Ghanaian artists to focus on reaching the international markets.

According to the ‘Sugarcane’ hitmaker, it is not enough for artists to fall on home support in their quest to make it globally.

“It is just right that a musician tours to different countries, make themselves popular there, and win more fans. That is the only way we can be heard beyond Ghana and become global artists and I am working towards that.

“I want to be a global icon and as we talk now, I am currently preparing to go to Nigeria and other African countries to make myself and my music popular. We will only be known in Ghana if we don’t make it a deliberate effort to move out of our comfort zone and make ourselves popular,” he stated in an interview with Graphic Showbiz.

The singer added that many artists remain in the country due to lack of home support especially financial support.

He said corporate entities could also help these artists by funding their aims to go global.

Speaking on how difficult it is to keep consistency as an artist, the singer stated that it is a tough task for young artists.

“If you don’t have people investing and pushing your music out there, how can you be consistent? You will just have the best songs and it just stays with you. How can you be consistent when you play shows and you are not paid?

“You need money to record new songs, pay for music videos and get your name out there. I am glad I have a team who sees to it that my music career reaches the topmost height. With such a solid team behind you, you rest assured that you will go places,” he added.

Source: Modern Ghana

Focus on talents outside Accra – Fancy Gadam tells VGMA

Ghanaian musician Fancy Gadam is asking the board of Vodafone Ghana Music Awards (VGMA) to focus on awarding talents beyond the Greater Accra Region.

The singer who believes was supposed to win the ultimate award at this year’s edition of the awards said he was shocked when his name was omitted from the nominations.

According to the ‘Total Cheat’ hitmaker, he is one of the biggest artists in the country and must be considered as such.

During a call-in interview on Hitz FM this morning, the singer stood his ground when host Sammy Forson tried to explain to him how an artist must have two or more nominations to qualify for the ‘Artiste of the Year’ category.

Fancy Gadam was of the view that he was eligible to win the award because he held three sold-out shows in one year alongside EPs and several singles.

“My problem is that it shouldn’t be only in Accra. If we release songs in the North, it is everywhere. I think they should also extend their coverage,” he said.

He added that other VGMA may be considered a balanced awards scheme if it looks beyond Accra.

Source: Modern Ghana

No Monkey pox in Western Region-Regional Health Director

Takoradi, May 25, GNA – The Western Regional Health Directorate has diffused speculation of the Region recording a case of monkey pox condition.

Dr Yaw Ofori Yeboah, Regional Health Director in a statement to the Ghana News Agency said though a patient who presented himself at a health facility in Ahanta West District had blisters that looked like the condition, the preliminary investigation had proven otherwise.

He said, the Region was thus free of such ailment but said further surveillance would be conducted in advancing public health early warning signals.

There are reports circulating on social media that Ahanta West Municipality in the Western Region has recorded a case of monkey pox condition.

Source: Ghana News Agency

The African Union’s conflict early warning system is no more. What now?

Since 2017, the African Union (AU) has undergone institutional reforms to increase its efficiency and effectiveness. The gist of these reforms was proposed by the so-called Kagame Report commissioned by the AU Assembly of Heads of State and Government.

An advisory team led by Rwanda president Paul Kagame took on “the chronic failure to see through African Union decisions”. This had led to the AU being seen as having limited relevance to African citizens.

The team also addressed financial overdependence on external partners, the underperformance of some organs and institutions, and the ambiguous working relations between the African Union Commission, and regional entities and member states.

One reform proposed was the merging of the Political Affairs and Peace and Security departments in 2021. It’s now called the Department of Political Affairs, Peace and Security.

However, the result was that one of the five pillars of the African Peace and Security Architecture – the Continental Early Warning System – has disappeared. Established in 2002, the early warning system was created to anticipate and prevent conflicts in the continent.

It was recently argued that the warning system’s functions would be incorporated across the new portfolio department. However, its major functions can no longer be performed. These include coordination and harmonisation with regional economic communities, and assisting member states in conflict analysis and mitigation.

As a former advisor to the African Union’s Peace and Security Department, I am deeply concerned about the effect this will have on the continent’s capability to prevent violent conflict. It is impossible to prove which conflicts were avoided because of the early warning system. However, in my view, its outputs ensured less violence than might otherwise have been.

The warning system produced analytical reports that informed the chairperson of the African Union Commission and the Peace and Security Council on impending conflict situations. It also established regular, direct relations with the council and helped regional economic communities develop their own early warning systems.

It further facilitated early warning exchanges across the continent, and helped member states address issues of structural stability and root causes of conflict.

The continental system additionally offered regular analyses in pre-election situations that had in the past escalated to violent conflict.

Establishing the system

The African Union’s Continental Early Warning System became operational in 2012, 10 years after its formation. This followed the careful design of its systems, workflow and structure.

Historically, the core of the system was the Conflict Management Centre. This was set up in 1993 for the Organisation of African Unity, the AU’s predecessor.

The early warning system functions included information monitoring and collection. Second was conflict and cooperation analyses. Third was the formulation of response options for decision-makers. The first was carried out by the so-called Situation Room while the second and third were carried out by analysts.

The early warning analyses were to be used by the chairperson of the African Union Commission:

to advise the Peace and Security Council on potential conflicts and threats to peace and security in Africa, and recommend the best course of action.

Early warning practices

Numerous early warning reports were developed, such as the automated Africa News Brief or Daily Reports. There were also in-depth, analytical early warning reports that offered concrete policy recommendations.

The early warning system also developed a strong dimension of long-term conflict prevention practices. It resulted in strategies that countries could use to assess their potential for conflict and develop mitigation strategies. In 2017 and 2018, Ghana became the first country to voluntarily go through this process.

Another problem to be overcome was the ‘silo mentality’ among African Union Commission stakeholders who were acting in isolation to each other. For this purpose, a separate conflict prevention framework was established in 2015. The task force was partly operational, until the COVID-19 pandemic hit the continent.

In engaging decision-makers, the Continental Early Warning System developed a horizon-scanning practice. From 2016, it briefed the Peace and Security Council twice a year. However, this was also discontinued during the pandemic.

The effect of institutional reform

The Continental Early Warning System was unfortunately obliterated under the broad AU reforms in 2021 that created a new department of Political Affairs, Peace and Security.

The Situation Room has been retained, but the early warning system analysts were redeployed to regional desks. There are now three regional desks: West and Central Africa, East and Southern Africa, and North Africa. They are staffed by five analysts each.

Obviously, they are preoccupied with conflict management in the many cases of violent extremism and terrorism, or unconstitutional changes of government. They simply don’t have the time and structure to also do early warnings. This means the dedicated place for early warnings is gone.

So, what are the practical implications of these decisions?

First, the question arises: can these rather dramatic changes be made without the African Union Assembly revising the Peace and Security Council Protocol? As stated earlier, the early warning system is one of five statutory pillars of the African Peace and Security Architecture.

Second, it’s not clear what role the system’s technical staff will play within the union’s peace and security apparatus. Or what becomes of the tools that have been developed and customised for data collection and analysis over the past 13 years.

Third, there is no dedicated unit left to prepare the statutory horizon-scanning briefings for the Peace and Security Council.

Fourth, there’s no unit in place to continue assisting member states to identify and address structural vulnerabilities at an early stage to build more resilient and prosperous nations. This core function is quite different from the work of the African Peer Review Mechanism and cannot be replaced by it.

Finally, there’s no indication which organ will now coordinate and harmonise the early warning relationship between the African Union and regional economic communities.

A possible future

The current structure of the new Department of Political Affairs, Peace and Security basically doesn’t fulfil the early warning mandate of the Peace and Security Council Protocol.

It also doesn’t address the ambitious aims spelled out in the African Peace and Security Architecture Roadmap and the Master Roadmap on Silencing the Guns.

The African Union had years of steady progress in implementing the early warning dimensions of the Peace and Security Council Protocol, and even going beyond it. There is a strong need for its decision-makers to realise that these early warning functions and practices must be re-organised quickly, systematically and substantively.

On the issue of early warning and conflict prevention, the well-intended institutional reform of the African Union has gone a step too far.

However, this can be easily rectified.

A possible way forward can be borrowed from another structure that was dissolved under the new organogram: the African Union Border Programme.

The border programme had developed an important track record in addressing ill-demarcated borders and border conflict in amicable ways. Its “need for dedicated capacity and required resources” was recently acknowledged during a meeting of the Specialised Technical Committee on Defence, Safety and Security held in Ethiopia on 12 May 2022.

Taking stock of the achievements and current needs of the continental early warning system should follow soon.

Source: The Conversation

Three before Court for causing GHS296,270.60 damage

Accra, May 25, GNA – Three persons are before an Accra Circuit Court over alleged damage to the Agbawe Kotoko We, valued GHC296,270.

60.

Ishmael Ashitey Oko, Joseph Armah Ashai and Daniel Armah Ashai have therefore been granted a GHS100,000.00 with two sureties each.

They are to report every two weeks to the Police until the determination of the case.

They have all denied conspiring to commit the unlawful damage, causing unlawful damage and threat of death.

Ishmael, Joseph and Daniel will go back to the Court on June 15, 2022.

Police Chief Inspector Samuel Ahiabor told the Court that Clement Osekre, the complainant, was a fashion designer whilst Ismael was a mechanic and both Joseph and Daniel were fishermen. They resided at Teshie.

On August 05, 2021, as the natives of Teshie were celebrating their Homowo festival, the three accused persons at Teshie, in the company of some persons at large, threatened to set the ancestral home of “Agbawe Kotoko We” ablaze and also butcher the complainant in this case.

The accused persons and their accomplices made the threat in the presence of Emmanuel Adjei Osekre, a witness in this case, Police Chief Inspector Ahiabor said.

The Prosecution said the witness quickly contacted the complainant and briefed him about the eminent threat on his life and damage of the ancestral home.

The Court heard that the complainant on receipt of the information relayed same to the family elders thus, in the evening of same day, one Leticia Osekre Tsotsoo, also a witness in this case, was in the said “Agbawe Kotoko We” when the accused persons and their accomplices went there with bottles filled with substances suspected to be petrol and implements.

The Prosecution said they chased her out of the house and set it ablaze together with its contents and on September 20, 2021, a complaint was lodged with the Nungua Police, leading to the arrest of the accused persons.

He said during investigation, a quantity surveyor by name Anthony Amoah was engaged who estimated the total cost of the damage caused to “Agbawe Kotoko We” and its contents at GHC296,270.60.

Police Chief Inspector Ahiabor said after investigation, the accused persons were arraigned.

Meanwhile, efforts are being made by the Police to arrest their accomplices.

Source: Ghana News Agency

Capital Markets: Veep calls for protection of investors from systemic risks

– Vice President Mahamudu Bawumia has urged capital markets in West Africa to develop regulatory policies to protect investors from systemic risks.

He expressed the belief that the development of regulatory policies would avert arbitrariness, promote risk sharing and encourage more competition to ensure tangible outcomes.

Vice President Bawumia gave the advice when he opened the 2021 West Africa Capital Markets Conference in Accra on Tuesday.

He said the time was ripe for Africa to build and develop strong capital markets to help finance the provision of public goods, provide capital for entrepreneurs and for private sector development.

The two-day biennial conference brought together participants from the Economic Community of West African States (ECOWAS) to share ideas and strategise to enhance the capital market.

It was organised by the West Africa Securities Regulatory Association (WASRA) on the theme: “Deepening and Strengthening the Capital Markets across West Africa through Effective Regulation”.

The Vice President was of the conviction that technical regulatory actions that met sound prudential principles and practices would ensure a successful capital market integration.

He, therefore, urged the WASRA and its members to make the best use of the tools presented by the International Organisation of Securities Commission to build coherent supervisory frameworks and well-established channels of communication across countries.

“The infrastructure side of capital market integration requires that WASRA supports the member jurisdictions in the implementation of its standards through a range of initiatives,” Dr Bawumia said.

The Vice President attributed the “disruptive effects” of the global economy to the COVID-19 pandemic and the Russia-Ukraine crisis.

He called for profound rethinking to ensure effective financial supervision, noting that the pandemic had brought in its wake new business models, products, and services on technological innovations worldwide.

“There is enormous potential for greater competition, interoperability, operational efficiency through cost saving and also improved risk management,” he added.

Dr Bawumia further called for the strengthening of the bonds of economic cooperation to unravel growth and change the narrative of a continent endowed with both natural and human resources yet clinging on to the strings of aid.

To change the narrative, capital markets should work towards integration and adoption of technologies that deal with regulatory and compliance requirements effectively.,

Dr Bawumia encouraged the WASRA to take advantage of the Pan African Payment and Settlement System (PAPSS), which was launched this year, to facilitate the payment of transactions in local currency among countries in the West African sub-region to facilitate the integration process.

He urged them to capitalise on the African Continental Free Trade Area to reduce the incidence of poverty and enhance long-term growth.

Mr Ken Ofori-Atta, the Minister of Finance, in a speech read on his behalf, said Ghana’s capital market started operations more than 30 years ago with nine companies.

It had made major strides with about 38 listed companies, with a market capitalisation of over GHc64 billion on equity bars and GHc187 billion on outstanding securities on the Ghana fixed income market as at March 2020.

The total trade volume from January to March 2022 was over 280 million shares valued at GHc300 milion, representing an increase of 39.68 per cent and 96. 77 per cent, respectively.

“At the end of 2020 when COVID-19 was biting hard, the stock market recorded one of its most successful years in volume trade of 695 million shares, the second highest in the exchange’s 30-year history whiles value traded was 575 million, the third highest,” Mr Ofori-Atta said.

Source: Ghana News Agency

ECG Substation: 37 Military Hospital, residents of Kanda to enjoy reliable electricity

Accra, May 25, GNA – The Millennium Development Authority (MiDA) on Wednesday handed over a US$14.5 million Primary Substation at Kanda to the Electricity Company of Ghana (ECG) to supply electricity to critical national institutions and residents in the catchment area.

The 78-mega volts amperes (MVA) will supply power to institutions such as the 37 Military Hospital, Kotoka International Airport, Jubilee House, Greater Accra Regional Hospital (Ridge Hospital), the National Mosque and adjoining communities; Kanda, Nima, Burma Camp, Ridge, Airport Residential Area and Cantonments.

More than 200,000 residents within the catchment area of the Ellen Moran Substation will benefit directly from the power infrastructure investment.

The facility was named after Ellen Kavanagh Moran, a retired employee of the Millennium Challenge Corporation (MCC), for her selfless service.

The project is one of the many electricity infrastructures constructed as part of the ECG’s Financial and Operational Turnaround Project of the Ghana Power Compact II, with funding from the MCC, a United States Government’s foreign assistance initiative.

So far, two out of eight primary substations earmarked for construction in the Greater Accra Region have been completed.

At the inauguration of the Ellen Moran Primary Substation in Accra, Mr William Owuraku Aidoo, a Deputy Minister of Energy, said robust, sustainable and reliable power supply was pivotal towards the country’s industrialisation drive to engender socio-economic growth.

He said the Akufo-Addo-led Government was undertaking several power infrastructures projects to meet the power demand of the ever-increasing population.

The Substation would reduce the ECG’s technical losses in its distribution network and ensure quality service delivery.

The Deputy Minister expressed the Ministry’s commitment towards ensuring stable and affordable electricity for consumers across the country.

Professor Yaa Ntiamoa-Baidu, the Board Chair of MiDA, in an address read on her behalf, said the facility would help meet the increasing demand for power by consumers in the Kanda enclave and enhance productivity, incomes and social outcomes for the residents.

She said the facility had all the modern protective and safety equipment for the operators and the public, and connected to the fibre optic broadband for effective communication.

The Substation and associated interconnecting and offloading circuits would ensure that ECG secured greater flexibility in evacuating power to consumers and help reduce commercial and technical losses, she said.

Mr Samuel Dubik Masubir Mahama, the Managing Director of ECG, said the facility would ensure robust, stable, and efficient power supply in the adjoining communities such as Nima, Airport Residential Area, and Burma Camp, while critical public institutions like the 37 Military Hospital received regular power supply for effective healthcare delivery.

Mr Steve Marma, the Resident Country Director for MCC, expressed the United States Government’s resolve to supporting Ghana’s quest to industrialise through funding critical infrastructure projects.

The Substation housed two outdoor 30/39 MVA power transformers and 33KV and 11 KV switching equipment in a basement-type Control Building.

The Ellen Moran Substation and interconnecting and offloading circuits were constructed by Messrs Eiffage Energie Systemes.TBEA Co. Ltd, and Messrs Best and Crompton Engineering Ghana Limited.

The Project was designed and supervised by SMEC International.

A citation was read in honour of Ms Moran, who was responsible for the development and implementation of infrastructure projects in compact and threshold programmes.

Source: Ghana News Agency

DFIs have unique opportunity to be effective in financial ecosystem-BoG

Accra, May 25, GNA – The Bank of Ghana (BoG) says amidst the enormous macroeconomic challenges, Development Finance Institutions (DFIs) have a unique opportunity to be proactive and effective in the financial ecosystem, especially in Africa.

That, the Central Bank said could not be over emphasized as most African countries were faced with weak domestic revenue mobilisation and severe financial constraints, making it difficult to execute essential developmental projects.

Dr Ernest Addison, Governor, Bank of Ghana, in a speech read on his by Mr Osei Gyasi, Head of Banking Supervision, BoG, at the 2022 Annual General Assembly of the Association of African Development Finance Institution (AADI), said African economies were still grappling with adverse effects of the COVID-19 pandemic.

The 48th General Assembly of the AADI was hosted by the Nation Investment Bank (NIB) on the theme: “Unlocking Innovative Resources for Development Finance: Agenda for African DFIs.”

The General Assembly offers a unique opportunity to identify challenges relating to resource mobilisation, and device solutions for raising suitable development funding to support the growth of countries and the continent.

The Central Bank Governor noted that the pandemic had left several countries with limited fiscal space due to the policy response that resulted in huge budget-spending with limited budgetary allocation for other development projects like infrastructure, education, and agriculture.

He explained that DFIs, by their mandate, had the potential to bridge government financing constraints through the provision of the much-needed medium-to-long-term funding for development projects to promote job creation and sustainable economic growth.

Touching on the current macroeconomic challenges, Dr Addison said COVID-19 unleashed multiple shocks on the global economy, bringing several economies to a synchronised standstill and triggering a sizable economic contraction in 2020.

“The global response to the pandemic was massive and swift, comprising fiscal and monetary policies, and macroprudential measures to moderate the devastating effects,” he said.

He noted that the Russian-Ukrainian war had also imposed significant price pressures on the global economy as food supply-side bottlenecks deepened, promoting further policy rate hikes in the near term.

With higher borrowing costs, the interest rate hikes had triggered capital flow reversals and currency pressures in some emerging markets and developing economies and complicated the recovery process.

Furthermore, Dr Addison stated that the tightened global financial conditions had resulted in a sharp rise in public debt levels, imposing severe financial constraints and unstable macroeconomic environment in several emerging and developing economies.

He said to be able to deal with the emerging challenges of the global and local economies, the roles of the African DFIs must continue to evolve to reflect the continent’s economic development and transformation.

That, he observed, was to ensure that DFIs remained relevant to supporting the changing financing needs of African economies and that, in some instances, DFIs must continue to widen and diversify the scope of activities to cater for new financing needs in growth sectors, including Information and Communication Technology (ICT) and biotechnology.

Dr Addison said, in response to some of those changing macroeconomic dynamics, Ghana recently set up the Development Bank Ghana (DBG) with a mandate to improve access to medium and long-term finance for enterprises, particularly Micro, Small and Medium Size Enterprises (MSMEs).

Mr Samuel Sarpong, Managing Director of NIB, said being innovative in finding other financing avenues was highly critical for Development Finance Institutions as it was the only way to lift the continent out of poverty.

“The continent is plagued with many challenges, but I believe we are strategically placed to come up with smart solutions to finance and champion the industralisation drive of our respective countries and the continent as a whole,” the MD said.

Mr John Kumah, Deputy Minister for Finance, said DFIs played a significant role in promoting access to financial services and economic development as they were potentially potent policy instruments for fixing market values, incubating market markets and promoting structural transformation for realising higher economic growth.

Source: Ghana News Agency