Category: General

Accra, April 27, GNA- The Government is working to turn around State-owned Enterprises (SOEs) before they are listed on the Ghana Stock Exchange (GSE), Mr Joseph Cudjoe, Minister for Public Enterprises, has said.

Reacting to proposals that SOEs should be listed on the stock market to encourage private sector participation and improve their performance, the Minister said it was the priority of the Government to first make the entities profitable to attract investors.

He made the remarks when he briefed the media on the activities of the Ministry in Accra today, Wednesday, April 27, 2022.

“…when I hear some people say put them (SOEs) on the Stock Exchange, they jump the first question: Have you made them attractive such that when you are listing on the stock exchange, the public as investors will buy the shares?

“We should be mindful of the fact that we have to turn around the companies that are meant for listing and then when they attain profitability and the shares are put on the stock market, people will invest,” Mr Cudjoe said.

The State Interest and Governance Authority (SIGA) has shortlisted 11 SOEs for listing on the GSE.

The enterprises include the Ghana Rubber Estates Limited, the Twifo Oil Palm Plantation, the Ghana National Gas Company Ltd, the Consolidated Bank Ghana Limited, the Ghana Reinsurance Co. Ltd and SIC Life.

The rest are the PSC Tema Shipyard, the State Housing Company Ltd, the TDC Company Limited, GHACEM and GIHOC Distilleries Ltd.

Mr Cudjoe said since 2017, there had been a significant improvement in the performance of Specified Entities (SEs), comprising SOEs, Joint Venture Companies (JVCs) and Other State entities (OSEs) operating in various sectors of the economy.

He said in the 2020 Financial Year, a total of 177 SEs, made up of 51 SOEs, 44 JVCs and 82 OSEs recorded a combined revenue of GHS130.9 billion and a net profit of GHS12 billion, with a total asset of GHS417.7 billion.

“Per the 2020 State Ownership Report, the State Entities employed 76,949 people, representing 24.9 per cent of the total public sector employment of 309,000” he said.

“There has also been an improvement in Financial Reporting and Compliance. In 2020, 132 entities submitted their financial reports as compared to 18 in 2016. We will keep moving until we achieve 100 per cent updated reporting so that management decisions can be made,” Mr Cudjoe added.

He said though SOEs recorded a combined loss of GHS 2.6 billion in the 2020 Financial Year, there had been a reduction in the losses as compared to the GHS 5.16 billion net loss that was recorded in 2019.

Mr Cudjoe appealed to the media to highlight the gains of some of the SOEs that were performing well to erode the impression that all SOEs were making losses.

“As we get excited by the loss-making and always focusing on that, performance isn’t one-direction thing. Those that are doing well must be applauded and in that case when they are encouraged, those that are lagging behind in performance will be motivated,” he said.

Source: Ghana News Agency

Accra, April 27, GNA – Mr Franklin Leonards, Board Chairman of Switch Up Ghana Group, has urged young people to use available digital tools, and social media to start employable ventures on their own instead of always waiting for government employment.

He said they could start such ventures through collaboration and partnership among themselves as well as through digital and media platforms.

“I wish most young people can think and create opportunities for themselves through the adoption of digital platforms and partnerships among themselves. With this, the Government can later come in with the needed support,” he stressed.

Mr Leonards said this while commending a group of young people who had established a culture and tourism venture dubbed “Switch Up Ghana,” an avenue they intend to use to promote Ghana’s culture and tourism industry.

The Switch Up Ghana Group seeks to digitalise the country’s history and heritage to the world thereby creating a platform where people from the diaspora can visit and tour Ghana.

The Group also unveiled its board members comprising Mr Franklin Leonards, who is the Chairperson; Mrs Mavis Leonards, Board Secretary, and Colonel Mustapha Abass.

The rest are Mr Dominic Oduro Antwi and Ms Firdus Salifu.

Mr Leonards called on stakeholders in the history and tourism industry to digitally document Ghana’s culture and heritage in order not to lose them.

“We need to tailor our history in a mordenised, digital way, by adopting technology and social media to sell Ghana’s history,” he added.

He stressed the need to revisit and teach the history of communities and tourism areas in schools and for individuals, especially the youth, not to lose sight of them.

“We cannot sell what we have if we are ignorant of it. Most people do not know much about their history and are losing their sense of culture and heritage,” he reiterated.

Mr Benjamin Oduro Bosompem, CEO of the Organisation, said they intended to give visitors real-time tourism and cultural experience through their organisation.

“We intend to change the narrative of tourism in the country, whereby visitors would have the opportunity to integrate with communities and tourist sites,” he indicated.

He said that they would soon launch a “Switch Up Xperience. Com,” where foreigners and locals could visit and savour tourist sites and communities.

Source: Ghana News Agency

The People’s Democratic Governance (PDG) has projected that the incumbent Constituency Chairman of Ellembelle NPP, Samuel Akainya known in a political cycle as Chairman Atito is tipped to win the upcoming constituency elections by 52%.

The People’s Democratic Governance, a reputable political research think-tank conducted same polls in 2018 and predicted a win for Samuel Akainya. The poll projected a vote difference between 30–40 and it’s eventually materialized with a vote difference of 36.

This poll aims to measure the level of popularity among all and a preferred Candidate to win and lead the party for the next four years. The research for this Poll was conducted from 17th to 24th April 2022.

Stratified Sampling technique was employed to classify the Constituency (delegates) into 6 zones plus all the electoral areas coordinators as one zone. 70% of delegates from each zone was randomly selected and interviewed.

The outcome of the fieldwork shows and project that, Samuel Akainya (Atito) will win 4 zones plus more of the coordinators as classified.

Sampson Ndoli (One Man) will win 2 zones whiles Joseph A. Adjei (Boin) will not be able to win any of the zones as categorized for the purpose of the fieldwork.

The research also revealed that Samuel Akainya will win by 52% with a vote difference between 50 –70 and Sampson Ndoli will get 42% whiles Joseph A. Adjei will occupy the last spot with 5% with not more than 50 votes. 1% of the delegates have not decided yet.

It should be noted that current Constituency Executives, Patrons and Council of elders who are also delegates were not part of the sample size considered in this survey.

All results were collated and analyzed in an aggregate format of each zone to protect the identity and confidentiality of respondents.

However, the election will take place at Aiyinasi Park on Monday, April 2, 2022 with thirty (30) candidates who will compete for 10 positions.

SUMMARY OF FINDINGS

ZONE A. FROM ANKOBRA TO KAMGBUNLI (33 PS) (165 DELEGATES)

Samuel Akainya = 20%

Sampson Ndoli = 77%

Joseph A. Adjei = 2%

Undecided = 1%

ZONE B. FROM AKONU TO ATUABO (13 PS) (65 DELEGATES)

Samuel Akainya = 80%

Sampson Ndoli = 15%

Joseph A. Adjei = 4%

Undecided = 1%

ZONE C. FROM ASASETRE TO AKROPONG (23 PS) (115 DELEGATES)

Samuel Akainya = 20%

Sampson Ndoli = 74%

Joseph A. Adjei = 4%

Undecided = 2%

ZONE D. FROM NKROFUL/ANWIA TO OBENGKROM (18 PS) (90 DELEGATES)

Samuel Akainya = 60%

Sampson Ndoli = 30%

Joseph A. Adjei = 8%

Undecided = 2%

ZONE E. EBI/EKOKONU TO MENZEZOR (45 PS) (225 DELEGATES)

Samuel Akainya = 70%

Sampson Ndoli = 21%

Joseph A. Adjei = 7%

Undecided = 2%

ZONE F. ASOMASE TO AMONOKROM (20 PS) (100 DELEGATES)

Samuel Akainya = 70%

Sampson Ndoli = 25%

Joseph A. Adjei = 3%

Undecided = 2%

ELECTORA AREAS CORDINATORS (32)

Samuel Akainya = 53%

Sampson Ndoli = 44%

Joseph A. Adjei = 3%

Undecided = 0%

Source: Modern Ghana

MTN Ghana and Vodafone Ghana are pleased to announce significant progress in the bid to implement a national roaming service in Ghana amongst operators. In this regard, MTN Ghana and Vodafone Ghana have entered a strategic partnership to pilot national roaming in the Volta Region as the first step to a broader nationwide national roaming partnership.

This agreement will see Vodafone Ghana expand coverage of its network by leveraging MTN’s network infrastructure in this pilot phase.

National roaming implementation in Ghana is intended to facilitate universal access and accelerate digitalization in line with the country’s ambitions of a digital economy. This pilot is the first step to a bigger plan by Government to have a full national roaming regime amongst all operators in the country.

Patricia Obo-Nai, CEO of Vodafone Ghana in a statement said, “The implementation of national roaming will enable Vodafone Ghana customers to stay connected in areas outside our current locations of coverage.

This is especially important for rural communities as national roaming invariably provides a greater choice of network providers. We believe strongly that the collaboration in the Volta Region is a positive step, and working together with the Government, the regulator, and MTN Ghana, we look forward to extending the national roaming service beyond the Volta Region in due course.”

“This agreement is a milestone for the industry and is in line with our Ambition 2025 strategic intent of “Leading digital solutions for Africa’s progress” CEO of MTN Ghana, Selorm Adadevoh, said.

“MTN fully supports the Government’s National Roaming plans. We acknowledge that national roaming will extend network coverage for Ghanaians nationwide and support the growth of the Ghana Telecommunications industry. Our Engineers have worked tirelessly to test and develop solutions to various challenges encountered along the journey and we are excited about what lies ahead in this partnership with Vodafone Ghana.” Selorm added.

Over the coming months, the outcome of the pilot would be instrumental in the development of the next phase of the partnership to cover more complex technical configurations for nationwide roaming on either network. We would update the market in due course.

We take the opportunity to thank the National Communications Authority (NCA) for their support and engagement through the process, and for their approval for us to proceed with this pilot. We also thank the Ministry of Communications and Digitalization for putting in place the policy framework to support such a partnership for the industry at this stage of the Ghana Telecommunications industry evolution. We are confident that this is just one of many forward-looking policies to come to safeguard the viability of the industry into the future.

Source: Ghana Web

Liverpool coach Jurgen Klopp called on his squad not to underestimate giantkillers Villareal during the first leg of their Champions League semi-final at Anfield on Wednesday night.

Unai Emery’s side disposed of Juventus and Bayern Munich to reach the last four and go into the clash at Liverpool as underdogs.

But Klopp – who led Liverpool to Champions League glory in 2019 – said he would not take the visitors lightly.

“Maybe Juve or maybe Bayern underestimated them,” said Klopp whose side are in a tussle with Manchester City for the English Premier League title.

“But that will never happen to us and especially after those four games against Juventus and Bayern there’s no chance of that anymore.

“So, this little advantage they had might have gone but they’re still a really, really good football team who obviously want to make history as well.”

History
If Villareal were to add Liverpool to their list of victims, they will reach the final of European club football’s most prestigious tournament for the first time.

“When you watch his team, Unai looks like a detail-obsessed manager who prepares for all the different situations in a game,” said Klopp

“And that’s what his team is executing. It’s really good. different ways to build up, different ways to press, different ways to react. Really, really impressive and obviously, Unai is a world-class coach and is doing an incredible job there.”

On Tuesday night, Manchester City beat Real Madrid 4-3.

France international Karim Benzema bagged a brace as Madrid fought back on three occasions from a two-goal deficit.

“Benzema played an extraordinary game,” said Madrid boss Carlo Ancelotti. “But he does it all the time. Even though we lost, we are still in the tie and at home next week I think we are more than capable of causing them problems.”

See-saw
City racked up a two goal lead within 11 minutes with goals from Kevin De Bruyne and Gabriel Jesus. Benzema halved the deficit after 33 minutes.

Just after the pause, Phil Foden added City’s third but within minutes Vinicius Junior struck back for Madrid.

Bernardo Silver sent the hosts two goal clear again in the 74th minute. 

Benzema though had the last word via the penalty spot. His panenka – a chipped shot to the centre of the goal – brought City within range.

“He’s got the technique and character to pull off a strike like that,” added Ancelotti of Benzema’s penalty. “It was spectacular to try something like that at that moment of the game.

The second leg will take place at the Santiago Bernabeu on 4 May as Madrid continue their hunt for a record-extending 14th trophy. 

City, who lost last year’s final to Chelsea, are seeking their first triumph in the competition.

Source: Modern Ghana

Accra, April 27, GNA- A task force of the Electricity Company of Ghana (ECG), Wednesday visited Parliament to embark on a disconnection exercise.

It is alleged the officials of ECG who are currently in Parliament are awaiting the departure of Mr Alban Bagbin, Speaker of Parliament, before the disconnection.

The exercise according to officials of ECG had been necessitated due to the indebtedness of the House.

It is unclear the exact amount Parliament owes the power distribution company.

On March 14 2022, ECG disconnected power to Terminal 3 of the Kotoka International Airport (KIA) and other offices of the Ghana Airports Company over unpaid bills.

The disconnection exercise was undertaken after the KIA failed to pay its indebtedness to the power distribution company. Ghana News Agency Sources say KIA owes ECG close to GHC49 million.

An attempt by the management of the KIA to pay the debt by cheque when the disconnection exercise was underway was rejected by the task force.

Power has however been restored to the Airport company.

Source: Ghana News Agency

Five national executive officers of the Convention People’s Party (CPP) who were arrested on Monday, 25 April 2022, for making derogatory statements about their National Chairperson, Nana Akosua Frimpomaa Sarpong-Kumankumah, have been granted self-recognisance bail by the Adabraka Police.

They are the General Secretary, Nana Yaa Akyempem Jantuah; National Organiser, Yirimambo Moses Ambing; National Treasurer, Emmanuel Opare-Addo; National Women Organiser, Hajia Aisha Sulley Futa and National Youth Organiser, Osei Kofi Acquah.

The Adabraka Police invited the five national officers to the station to give their statements regarding a complaint of insult lodged against them by Nana Sarpong-Kumankumah.

The police said no charge had been preferred against the five persons yet but they have been granted self-recognisance bail and are to report on May 11, 2022.

Some weeks ago, the Central Committee of the CPP said Akosua Frimpomaa Sarpong-Kumankumah does not qualify to hold herself National Chairperson of the party since she was not validly elected.

The Committee stated that Akosua Frimpomaa Sarpong-Kumankumah, who is also the leader of the party per its constitution, did not obtain the 50 per cent or more votes needed to validate her election as Chairman and has, thus, recommended a run-off between the now-deposed Chairman and her closest contender in the 2020 internal polls, Hajia Hamdatu Ibrahim.

The resolution followed an objection raised by the party’s First Vice-Chairperson, Mr Onsy Kwame Nkrumah, to the legitimacy of Nana Frimpomaa Kumankuma’s chairmanship.

Source: Modern Ghana

The Director of Communications for the governing New Patriotic Party (NPP), Yaw Buaben Asamoah, believes that the NPP stands a better chance at winning the 2024 election, given its management of the economy amid current challenges.

Speaking on Face to Face on Citi TV , Mr. Buaben Asamoah said the NPP is better positioned to appreciate the present challenges and “bring Ghanaians out of it.”

He said the NDC from where it stands has little appreciation of the modern ways of economic management, and cannot be trusted to salvage the situation.

“We believe we have done far better than the NDC in spite of the challenges, and that the NDC is not the solution. We believe strongly that we are better positioned to handle the current modern challenges of public finances and economics. If you sit to reflect on what is going on in the world, you will know that the old ideological ways of dealing with economics has been dumped.”

“The metrics for managing these situations are entirely different from the old-fashioned, orthodox ways, and we the NPP government are in a good place to appreciate those things and support the people to ride over the current challenges. Your refuge is not the NDC because the NDC cannot keep up with us,” he added.

Mr. Buaben Asamoah also urged Ghanaians to desist from changing government’s after every 8 years, as it is “retrogressive”.

“We will break the 8. I sense a growing maturity among the Ghanaian voter population. We are heading into our 9th election, records show that anytime the NPP comes to power we bring forward innovative programs. The NDC is unable to sustain these when they take over.”

”It is time we put on hold the back and forth with the 8-year cycle. It has done us a great disservice and it is not making politics sustainable.”

Source: Modern Ghana