You can imagine what this will do to our balance of payments – Amin Adam on IMF deal

The Minister of State in charge of Finance, Dr. Mohammed Amin Adam, has stated that the $3 billion International Monetary Fund will boost Ghana’s balance of payments.

According to him, the country will receive a total of $1.2 billion from the Fund this year adding the first tranche of the loan facility consisting of $600 million is expected to be disbursed into the Central Bank’s account by Wednesday May 17, 2023.

“You can imagine what this will do to Ghana’s Balance of Payment support going forward,” he was quoted by myjoyonline.com.

The Minister in a separate conversation stated that the approval of Ghana’s request for a financial bailout from the International Monetary Fund will open doors for Ghana to re-enter the international capital market.

Ghana has currently been shut out from the international capital market due to its highly unsustainable debt levels but the minister noted that the disbursement of the IMF funds will boost investor confidence in the economy, which will pave the way.

“We will go back to the market because we will leverage on the IMF deal to balance our financing needs. We have development partners supporting, but a chunk of our inflows will come from the market so with the IMF approval, we are very confident that investor confidence in Ghana will increase.

The institutions upgrading us will look favourably to Ghana and then as a result of all these, we could return to market very soon,” he was quoted by citinewsroom.com.

He also added that borrowing is inevitable for the economy, but this will also depend on whether Ghana is able to reach sustainable debt levels within the best possible time.

“It depends on how quickly we get to sustainable levels. We are hoping at attaining sustainable levels by 2028. If that is achieved, it’s possible. As for borrowing, you can’t say you won’t borrow. In as much we don’t borrow for ourselves so going to the market is a matter of course if the conditions are favourable,” Dr. Amin Adam added.

Source: Ghana Web

Why I established Yaw Dabo Academy – Ace actor explains

Ghanaian comic actor and bankroller of Dabo Soccer Academy, Samuel Nana Yaw Dabo has revealed the reason behind the setting up of the academy.

Dabo made waves last weekend when he visited the MARCA Studio in Spain after his interview with Spanish TV channel presenter, Jose Luis Allegue Villares went viral when Real Madrid played out a 1-1 draw with Manchester City in the first leg of the semi-final of the UEFA Champions League on Tuesday, May, 9.

In the video, Dabo was heard saying Manchester City’s forward, Erling Haaland was never a threat in the City setup but rather Kevin De Bruyne is the player to cause Madrid problems.

Sharing the motivation behind the academy, Dabo said he wanted to support people passionate about football and needed the additional push to make it. “When you get money, you need to give somebody because everybody needs help. Me too, I need help. My brother needs help. So, I want to go back to my society to support them.”

Adding that he was in Europe to find solutions to support his football academy with the hope of securing partnership deals with top clubs around Europe, such as Real Madrid among others.

Dabo is currently on a European tour and has visited several high-profile clubs, including PSG, Ajax and Dortmund.

Source: Ghana Web

Ghana Institution of Surveyors builds synergies with CCTU, UCC

The Ghana Institution of Surveyors (GhIS) has wooed academic staff of the Cape Coast Technical University (CCTU) and the University of Cape Coast (UCC) to join the institution as they transition into professionals.

It said it was necessary for lecturers to expand their scope in that regard to gain practical experience to improve academic work and enhance the quality of graduates they churned out.

Alhaji Daud Sulemana Mahama, President of GhIS, explained that academics doubling as professionals was a critical step to bridging the gap between academia and industry.

He made the admonition when he led the leadership of the Institution to visit the Department of Construction Technology and Management of CCTU and later, the Directorate of Physical Development of UCC to build synergies.

The visit also formed part of a branding process to project the image and authority of the Institution to make professionals the first point of call for surveying services instead of quacks.

Alhaji Mahama noted that the better part of the surveying work was practical in nature and insisted that academic training must be mixed with some practical knowledge.

He observed with concern that majority of graduates were not well-equipped to be moulded into the professionals that the country required.

‘For the lecturers who are teaching these students to have that practical knowledge, it is good for them to go through the processes of also becoming members of the Ghana Institution of Surveyors so that at least, we can blend the academic they do together with the practical work we the practitioners do on the field,’ he said.

‘The students do not put in enough efforts to become professionals and so it is one of the ways to encourage students to be more serious with their learning,’ he added.

The GhIS President further called for a partnership between the schools and the Institution in research to inform policy formulation.

‘As professionals, we are not publishing enough but we have realised that you do a lot of research that is not articulated for us to formulate policies to help the country in the areas that are covered by surveying,’ he noted.

Alhaji Mahama observed that GhIS had not been assertive enough for which reason there were persistent incidents of construction failures such as building collapse in the country.

‘Ministries give huge contracts and value for money audits to accounting firms instead of surveyors and the firms later bring the work to surveyors who stand to benefit a little later,’ he added.

Consequently, he said surveyors, who provided services to every sector of the economy, needed to work to amplify their voice to issue advice to government on a wide of range of issues.

Ing Benjamin Boahen Akomah, Head of the Department of Construction Technology and Management, CCTU, assured GhIS that it would start processes to encourage the academic staff of the department to join the Institution in the next two years.

Source: Ghana News Agency

Deputy Foreign Minister urges Ghana, Pakistan to improve trade

Mr Kwaku Ampratwum-Sarpong, a Deputy Minister for the Ministry of Foreign Affairs and Regional Integration, has called for an increased trade relations between Ghana and Pakistan.

A statement issued by the Ministry of Foreign Affairs and Regional Integration and copied to the Ghana News Agency said Mr Ampratwum-Sarpong made the call when he held a meeting in Accra with a Pakistani Business Delegation, led by Mr Eric Owusu Boateng, Ghana’s Ambassador to Iran with concurrent accreditation to Pakistan.

The Deputy Minister welcomed the delegation to Ghana, introduced Ghana’s business environment to them and urged them to explore the numerous investment opportunities in the country for our mutual benefit.

Madam Farhat Ayesha, the High Commissioner of Pakistan to Ghana, acknowledged that Ghana was the biggest trade partner of Pakistan in West Africa.

She indicated that the volume of trade between the two countries was worth $67 million and there was more opportunity for growth.

In his contribution, the Vice Consul of Ghana in Pakistan, Umar Shahid Butt, added that Ghana had a stable political environment, a large literate Ghanaian population, and skilled workforce, which made Ghana an ideal country for business.

He emphasised the need to increase the trade volume between Pakistan and Ghana and noted that due to the pandemic and Ukraine war, developing economies are currently facing difficulties which could be overcome by promoting mutual trade.

The 14-member Business Delegation visited Ghana to explore the diverse business opportunities the country has to offer.

It is the first major Pakistani delegation visiting Ghana following the re-opening of the Pakistani High Commission in Ghana almost a year ago, after a 30-year absence.

Source: Ghana News Agency

Productivity Enhancement Projects: Farmers asked to weed cocoa farms regularly

Mr. Ebenezer Agyin, Ashanti Regional Manager, Cocoa Health and Extension Division (CHED) of the COCOBOD, has underscored the need for cocoa farmers to regularly weed their farms, especially when the rains set in, to achieve the objectives of the Productivity Enhancement Projects (PEPs).

The PEPs, a project introduced by the COCOBOD, seeks to roll out a set of measures that will improve productivity per hectare, and increase cocoa production levels above one million tonnes per year.

After a field visit in the Nyinahin Cocoa District, Mr. Agyin observed that most farms were engulfed by weeds, and with onset of the rains, if the farms there were not cleared speedily, they may completely take over cash crops, a situation which would not enhance productivity.

He said, ‘This will mar the objectives of the PEPs which includes pruning, cocoa rehabilitation, and pollination among others.’

The COCOBOD as part of the project has been providing farmers with hybrid plantain suckers and economic shade trees to intercrop on the cocoa farms.

According to Mr Agyin, the Ashanti Region had earmarked to distribute over seven million hybrid cocoa seedlings in 2023 for various categories of farms such as the rehabilitated farms, farms established two years ago (2021/2022) that had to be refilled due to dead seedlings as well as farmers who had unfortunately encountered wild bush fires, to revamp and reestablish their farms again.

Again, farmers undertaking new cultivation were receiving hybrid seeds for establishment.

Mr Agyin as part of the visit inspected some reestablished cocoa farms and also farmers undertaking new cocoa establishments, where he observed that most of the farmers were planting under the supervision of the Rehabilitation Assistants.

He also visited a nursery site at Antwi-Agyei Nkwanta where about 84,000 hybrid cocoa seedlings were being nursed for distribution to farmers.

Mr. Bernard Amanor, District Cocoa Officer at Nyinahin, told the Ghana News Agency (GNA) that the district intended to rehabilitate 205 hectares under the Cocoa Rehabilitation Programme in 2023, adding that, 115 hectares had already been done.

The Nyinahin Cocoa District had also distributed 333,570 hybrid cocoa seedlings and 30,000 plantain seedlings to farmers.

Mr Amanor said the only challenge had been inadequate labour on the farms and pledged that the district would strategise to increase the labour force to speed up the planting processes.

Mr Kwasi Agyei, a cocoa farmer who owns 0.4 hectares of farm at Nsuontem, told the GNA that COCOBOD’s intercropping programme had benefited him immensely.

He said proceeds from the sale of plantains on his farm was giving him extra income as an alternative livelihood until the cocoa pods were matured enough for harvesting.

Mr Agyei said his farm was in good shape because of regular weeding of the farm and other farm maintenance practices and praised officials of COCOBOD for their support through their extension services.

Source: Ghana News Agency

Complement government to make Free Senior High School policy successful

Stakeholders in education have a role to play in the successful implementation of the Free Senior High School Policy, Mr. Ernest Wiafe, Headmaster of Obuasi Secondary Technical Senior High School, has said.

He said the introduction of the policy was a bold initiative which could change the face of education in Ghana and stressed the need for other stakeholders to complement efforts of the government to achieve the desired results.

Mr. Wiafe made the call after receiving 17 computers from the 1986-year group of the school at a brief ceremony in Obuasi.

The donation sought to increase the stock in the school’s computer laboratory to enhance Information Communication Technology (ICT) education in the school.

The headmaster said the huge investment being made by the government through the Free SHS Policy still required such support to achieve the quality that all Ghanaians were expecting at the second cycle level.

He, therefore, called on parents, old students, Non-Governmental Organisations and Corporate Ghana to mobilise resources to support schools they had stake in.

With a population of over 4,000 students, only 40 students could be accommodated at a time in the school’s computer lab with virtually all students offering ICT as a core subject, he said.

He described the situation as worrying and called for support to promote teaching and learning of ICT in the school.

Mr. Wiafe commended the group for their continuous support and urged other old students to emulate the good example of the 1986-year group.

Dr. Maurice Jonas Woode, a member of the group who presented the computers, said they received a request from the school for additional computers to augment the computer lab.

‘So, we liaised with LABDOO, a German based organisation through Ghanaian students in Dusseldorf, Germany who supported us with these computers,’ he said.

He said the group paid for other expenses including the cost of freight and packaging, adding that, the donations come on the heels of other contributions made by the 1986-year group towards the development of the school.

Dr. Woode who is the Chief Executive for the Akrofuom District, charged other stakeholders to also contribute towards the development of education in the country.

Source: Ghana News Agency

Nigerian jailed eight years for defrauding former CID boss

The Accra Circuit Court One has sentenced a Nigerian to eight years imprisonment in hard labour for defrauding a police officer, Commissioner of Police (COP) Maame Yaa Tiwaa Addo-Danquah.

Bright Daniels, who at the time of committing the crime, was a convicted prisoner at the Nsawam Prisons, denied the offence.

He was taken through a full trial and found culpable.

Deputy Superintendent of Police (DSP) Emmanuel Nyamekye, giving the facts in the Court presided over by Mrs Afia Owusua Appiah, said the Complainant was COP Mrs Maame Yaa Tiwaa Addo-Danquah, a former boss of the Criminal Investigations Department (CID) of the Ghana Police Service who is now stationed at National Police Headquarters, Accra.

Daniels, an ex-convict is a Nigerian, who served a seven-year jail term at the Nsawam Medium Security Prisons. His accomplice, Livinus Amadianaeze Ugwu, also an ex-convict and a Nigerian, is on the run, the Court heard.

DSP Nyamekye said in April 2021, COP Addo-Danquah’s attention was drawn to a fake Facebook Messenger account created in her name and bearing her picture that was being used to solicit money from police personnel under the pretext of getting them slots to United Nations (UN) and African Union (AU) Missions in Somalia and Sudan.

He said the user of the said fake Facebook account contacted the victims and directed them to pay money via Airtel/Tigo cash to phone number 0271701436.

Detective Chief Inspector Baffoe paid GHC10,000.00 through Airtel/Tigo cash to the number and the amount was subsequently withdrawn by Daniels.

The prosecution said investigations revealed that the phone number was traced to the environs of the Nsawam Medium Security Prisons in the Easter Region.

Further investigations revealed that Daniels was the user of the number. After a search conducted by the police, a Samsung Galaxy A02 phone which Daniels used to chat with Ugwu and a Tecno feature phone that was used to receive the money from Detective Chief Inspector Baffoe was retrieved.

DSP Nyamekye said Forensic Examination conducted on the devices revealed that Daniels and Ugwu conspired to use the name and photograph of the COP Addo-Danquah to collect money from Police personnel under the pretext of getting them a slot to travel to the United Nations and African Union Mission in Somalia.

Daniels then acquired the SIM card with 0271701436 that was used to receive money from their victims.

He admitted the offence and after investigations, he was charged and put before this court.

Source: Ghana News Agency