Day: September 28, 2022

Ghana coach, Otto Addo has pleaded with his players to be precise in front of goal following their slim 1-0 win over Nicaragua in a pre-World Cup friendly on Tuesday.

The Black Stars who were humbled by Brazil in their first friendly secured a slim win over the Central American side in their second friendly in Spain with Sporting Lisbon youngster Issahaku Fatawu scoring in the 35th minute.

Black Stars, who will take on Portugal, South Korea, and Uruguay in Group H at the World Cup finals, wasted a plethora of chances in an unconvincing performance against the Central American nation, who are 79 places behind them in the FIFA rankings.

“It is just like we have to be a little bit more composed, a little bit also more cool on the ball and sometimes we have to take some time and make another cut, maybe lay it off to a player who is in a position to score,” coach Otto Addo said after the game.

“We were also unlucky at some point not to score more goals and their goalkeeper did very well, and we have to be a little bit precise instead of always wanting to hammer the ball into the net, we have a young squad, a lot of young players today, and a squad of new players, and this is quite normal.”

He added, “Seven, seven out of 10 is the highest, seven because from what I saw we played very well it is just that we did not score more goals.”

“I like the runs behind the defensive line, I like the passes in between the lines, I like the turns up, I like the body positions, so a lot of very good things and good timings with the runs.”

Ghana will take on Switzerland in another preparatory game on November 17, seven days before their opening game at the 2022 FIFA World Cup against Portugal.

 

 

Source: Modern Ghana

The Bank of Ghana (BoG) has issued a press release informing the general public that data on all mobile money loan customers are domiciled in the databases of credit bureaus.

This is to warn Mobile Money loan defaulters refusing to re-register their SIM Cards with the Ghana Card to think twice.

According to BoG, failure to repay such loans will attract negative repercussions on borrowers’ credit reports/history and could subsequently adversely affect any chance of obtaining loan facilities from other financial institutions and credit providers in the future.

“The attention of Bank of Ghana has been drawn to some individuals who have acquired loans through mobile money platforms, but have deliberately refused to register their SIM cards under the on-going national SIM Card registration exercise, with the intention of avoiding repayment of the acquired loans.

“Borrowers who have discarded their SIM Cards are advised to contact their telecommunication service providers or respective lenders, to discuss repayment arrangements to avoid adverse information on their credit reports, that could deny them access to future credit facilities,” parts of a press release issued by the Bank of Ghana on Wednesday has said.

The ongoing SIM Card re-registration process is scheduled to end on Friday, September 30.

With thousands of SIM Cards not registered, it is unclear whether there will be another extension of the deadline.

 

Source: Modern Ghana

The basic cocoa freight rate for containerised shipments and mega bulk shipments to all destinations except the United Kingdom (UK) has increased by 5% and 10% for the 2022/2023 cocoa season.

In addition, Bunker (Fuel) Adjustment Factor (BAF) to all destinations except the UK has also increased by two percentage points from 28 to 30 per cent.

The Cocoa Marketing Company (CMC), Ghana Shippers Authority (GSA) and 18 shipping lines agreed to increase the rates at this year’s Cocoa Freight Negotiation Conference at the Hilton Sorrento Palace, Sorrento, Italy last Thursday.

The reason behind the decision predominantly were events in the global shipping market, which include increasing charter rates, container shortage and rising bunker prices.

Also, the need to keep a competitive freight rate for Ghana’s cocoa, especially in the light of competition from neighbouring countries, played a role.

The increment in rate stipulates that calculated per tonne, for shipping a commodity to the various locations across the world currently stands at £31.50 to the United Kingdom (UK) for both bagged and bulk; to the Northern Continent €54.02 for bagged and €56.60 for bulk; to Estonia €61.74 for bagged and €64.70 for bulk; to Mediterranean Europe €60.64 for bagged and €63.53 for bulk; to the Far East US$100.44/106.09 for bagged and to Brazil US$116.24 for bagged and US$121.78 for bulk.

Managing Director of the Cocoa Marketing Company (CMC), Vincent Okyere Akomeah, noted that the agreed rates would be a win-win for the government and the shipping lines.

He said the move would help to save the government substantial revenue as the shipping lines would get good and reliable businesses.

Shipping lines that were present at the meeting to negotiate costs include Maersk Line, Mediterranean Shipping Company, ZIM Integrated Shipping Services Ltd, Grimaldi, COSCO Shipping Lines, Messina Lines, Ocean Network, CMA-CGM, and Arkas.

 

 

Source: Modern Ghana

Chipper Cash, a cross-border payments app used by over five million people throughout Africa and its diaspora has received authorization from the Bank of Ghana (BoG) to provide remittance services from the United States of America to the country.

The approval follows on the heels of the fintech being granted an Enhanced Payment Service Provider License by the BoG to begin commercial operations in Ghana in August 2021.

In an interview, the Chief Executive Officer of Chipper Cash in Ghana, Mr Dion Jon Taylor Samson said his outfit was delighted to have received the approval.

He added that Chipper Cash would comply with all the regulations associated with providing the inward remittance service which was a major contributor to national income.

He said: “It is important for us fintechs to continuously work with the Central Bank not only to fully comply but also to make them aware of all our activities so that they may share in our vision and also provide advice and guidance”.

Ghana entry

The company’s entry into Ghana was forged in Spring 2019 when its then 27-year-old co-founder Majid Moujaled and 28-year-old Dion Jon Taylor Samson reconnected in Spring 2019 after not seeing each other for close to 13 years since their last day of high school together.

Majid shared what he had begun working on with Dion who was also keen on bringing Chipper Cash’s excellent service to Ghana. He suggested they set up the Ghanaian entity properly and put measures in place for an effective rollout.

The rollout led by the efficient Dion who is the Chief Executive Officer of Chipper Cash in Ghana involved setting up aggregators, getting a partner bank, forming a fully-fledged corporate body – Critical Ideas Ghana Limited to operate Chipper Cash in Ghana and getting licensed by regulators.

Why Ghana?

According to Mr Taylor Samson, the rapid adoption of digital payment platforms in the country falls in line with its goal to accelerate financial inclusion across Africa.

 

Source: Modern Ghana

The Minority in Parliament is demanding a detailed report on the agreement between Ghana National Petroleum Corporation (GNPC) and a US-based Ghanaian owned energy company, Genser Energy Holdings.

The Minority contends that the conditions of the deal, in which Genser committed to pay a reasonable price for gas to power embedded power plants it leases to various large mines and consumers in the cement and ceramics industries, must be interrogated.

Industry players including IMANI Africa have also raised concerns about alleged financial recklessness.

Speaking to Citi News, the Ranking Member on the Mines and Energy Committee of Parliament, John Jinapor, said the Committee would review the deal when Parliament resumes.

“Some of the questions have been answered while others are pending. For the information that could not be provided, we have directed that GNPC makes all those information available to us regarding the financial analysis underpinning the agreement and investment decisions.”

“We are also aware that, Ghana Gas is deeply involved, so we have decided that we will summon Ghana Gas to appear before us because I am clear in my mind that, there are some issues that need addressing”, he said.

Already, the government has described as misleading reports that Ghana is likely to incur a $1.5 billion financial loss in the agreement.

“For now, it is a bit exaggerated,” a Deputy Minister of Mines and Energy, Mohammed Amin said to the press.

The Africa Centre for Energy Policy and IMANI Africa revealed in a report that the deal in which Genser committed to pay a reasonable price for gas to power embedded or off-grid power plants it leases to various large mines and consumers in the cement and ceramics industries triggers possible financial recklessness on the part of GNPC.

But Mr. Amin said IMANI and ACEP should have been more measured while sharing their conclusions.

“I was thinking that before IMANI and ACEP would put out into the public domain matters of this consequence, they should have made these matters referable to GNPC.”

Ghana Gas which used to be a subsidiary of the GNPC has been invited to meet the committee on Monday on the matter.

John Jinapor, is, however, expecting further details on the agreement between the GNPC and Genser.

He is concerned with the financial analysis underpinning the agreement and the thinking that went into the investment decisions.

“The committee will interrogate this matter to its logical solution… our duty is to make sure the State is not short-changed,” he said.

 

 

Source: Modern Ghana

 

Four Foreign envoys at separate occasions on Tuesday, presented their Letters of Credence to President Nana Addo Dankwa Akufo-Addo at the Jubilee House to begin their duty tour of the country.

They were Simone Giger, the Swiss Ambassador to Ghana, Jeannette Njuma Nyakeru, Ambassador of the Democratic Republic of Congo, Bijan Gerami Naziksara, Ambassador of the Islamic Republic of Iran and Bernice Owen-Jones, Australian High Commissioner.

During separate interactions with President Akufo-Addo, they all commended Ghana for its leadership in promoting democratic values and the maintenance of peace and security, particularly in the West Africa region.

Bernice Owen-Jones, in her remarks, said there was a lot Australia and West Africa could collaborate and do to address some pressing security challenges in the region such as terrorism

She said her country currently was funding an international counter-terrorism academy in La Côte d’Ivoire to deliver training and security capabilities in the region.

The Australian Ambassador said the mining sector for decades had been the main pillar of the bilateral relationship between Ghana and Australia, and in some countries in the West African Region.

Australia, she stated, has over $40 billion in investments in west Africa and was proud of her country’s engagements in the extractive sector in Ghana for which both countries had derived many benefits.

She said there were other sectors of the economy that the two countries were closely engaged in — education — where many Ghanaian professionals had been supported to study in Australia through the Australia Awards Scheme.

Bernice Owen-Jones commended the work of the Australian Commission in Ghana which has so far supported over 250 projects over the last 20 years to deliver development to communities.

She said there were more areas such as closer business-to-business links, and links between the universities and civil societies that the two countries could further explore to deepen the relations.

The Australian Ambassador expressed her country’s commitment to working with the Ghanaian government to deepen further the strong relationship between the two countries.

On his part, President Akufo-Addo congratulated Bernice Owen-Jones on her appointment and added that Australia and Ghana have had an excellent relationship since the latter’s independence, 65 years ago.

He said as members of the Commonwealth, Ghana and Australia had shown commitment to the goals of the association and shared common aspirations and commitment to democratic values, and respect for human rights, which binds the two countries closer.

President Akufo-Addo expressed his gratitude for the contributions Australia had made and continues to make in the country’s development journey, especially in the extraction sector.

The President added that currently, there were 26 Australian companies in Ghana that were listed on the country’s stock exchange.

President Akufo-Addo said Ghana finds her partnership with Australia “very useful and beneficial” and that there was a very promising engagement that the two countries could enter into to further deepen the relationship.

Swiss High Commissioner, Simone Giger told President Akufo-Addo that “I think I do not have to convince you of the excellent relations between Switzerland and Ghana as your state visit to my country was a testimony of that great relations.”

She said President Akufo-Addo’s leadership which has further cultivated a renewed bond of friendship had been key and hoped the bilateral relations, as well as the high-level engagements between the two countries achieved over the past few years, would be maintained.

Simone Giger said Switzerland had recently adopted a strategy on Sub-Sharan Africa, the first ever which demonstrated her country’s willingness to engage more with Africa.

And within that strategy, she said Ghana had been defined as the “so-called Lioness” and with its presence in Ghana, Australia would want to intensify the already long relations with Ghana.

She was convinced that every development and economic engagement that the two countries pursued was in line with the Ghana Beyond Aid Agenda.

“Switzerland is here to work together with Ghanaian counterparts to develop the local private sector to diversify the Ghanaian economy and in the end hopefully, to create jobs for the country’s youthful population,” Simone Giger stated.

Other areas of cooperation that her country was ready to be deeply engaged in were Education, finance, technological know-how, digitalization and the fight against climate change.

She said the Republic of Ghana and the Confederation of Switzerland 2020 signed a landmark bilateral agreement on Climate Protection that would allow the two countries to implement the agreed cooperation under Article 6 of the Paris Agreement.

Simone Giger said though the implementation had not yet started, it had already raised a lot of interest “and I think what we are going to do under this agreement would be of great interest not only to our two countries but to many more countries.

“I am keen and eager to work together with your administration on the realization of this agreement and also towards dissemination, hopefully, of all the good pipes we are going to create.”

The Swiss Ambassador announced that Switzerland would soon join the United Nations Security Council for the first time and that Switzerland “would be in good company there with Ghana” and looking forward to cooperating with Ghana within the framework of the Security Council.

She said Switzerland would hope to rely on the President’s expertise and experience “and given our like-mindedness, I think we would find different topics on which we can vote together to prevent conflict, sustaining peace and also in addressing the issues of climate change and security.”

President Akufo-Addo said Ghana and Switzerland have a good base to forge ahead even stronger relations, a relationship he said has been “beneficial and productive for us here in Ghana.”

He said Ghana continue to cherish that relationship and hoped that “during your time here as Ambassador we will see an intensification of this relations.”

He expressed optimism that the Climate Change agreement between the two countries could be a model for many countries on how to work in a structured manner to deal with the socio-carbon credits over the environment.

 

Source: Modern Ghana

 

The unfortunate incident that transpired at the Global Citizens Festival over the weekend has been described as a warning to President Akufo-Addo and the ruling New Patriotic Party (NPP).

According to Democratic Youth for Competent Leadership (DYFCL), the booing of the President should be a wake-up call to the NPP to start preparing their handing over notes to the opposition National Democratic Congress (NDC).

President Akufo-Addo was booed by the overcrowded participants who were chanting ‘Away, Away, Away’ when he was called on stage to read his speech.

The unhealthy development has stirred controversy as most Ghanaians seem to be in support of the booing, as they insist the President and the NPP have failed Ghanaians in managing the economy.

The NPP Deputy Communications Director, Owusu Bempah has however, accused the main opposition NDC of being behind the incident just to embarrass the President.

But a statement by DYFCL has advised the President and NPP to see the current development as persistent anger of many Ghanaians due to the high cost of living people are going through in the country.

The statement also indicated that the NDC is surprised to see Government and party communicators blaming the Party instead of reflecting back on promises made prior to the 2016 and 2020 general elections.

“It is now clear that the NPP and President Akufo-Addo has woefully failed Ghanaians and we think it is time to show remorse and apologise for poor management of the economy instead of trying to defend the unthinkable,” the group emphasised.

 

 

Source: Modern Ghana

 

2nd Vice Chairman of the New Patriotic Party in the Fanteakwa south constituency, Nana Kofi Akomea Jnr has waded into the booing of President Akufo-Addo with a call to the youth to use proper means to address their concerns.

The experienced NPP Communicator was of the view the youth could have expressed their displeasure in a different way instead of on such a global stage.

Nana Kofi Akomea Jnr in an interview with this reporter described the incident as unfortunate and disgracing to hoot at the first gentleman of the land to the world.

Even though he did not apportion blame on any individual or group, he found it difficult to understand why some persons can plan and hoot at the President, knowing well that the world was watching.

According to Nana Kofi Akomea Jnr, he does not believe the booing has anything to do with the current state of the economy but reasons best known to the hooters.

He stressed that the Akufo-Addo-led government has been touted as one of the many Presidents who has well handled the economy amidst the COVID-19 pandemic and the Russia-Ukraine war.

He added that the President needs commendations from Ghanaians and not the other way round.

“I will urge Ghanaians, especially the youth to trust in the Akufo-Addo-led NPP government as a lot is been done to redeem the image of the current global economic crisis,” he emphasised.

 

 

Source: Modern Ghana