The District Chief Executive for Bosome Freho in the Ashanti Region, Yaw Danso, is facing an investigation for alleged involvement in galamsey. An audio in circulation seems to implicate the Chief Executive in illegal mining activities Some members of the Assembly have already called on President Nana Addo Dankwa Akufo-Addo, his Chief of Staff, Local Government and Decentralization Minister, and Lands and Natural Resources Minister Abu Jinapor to take a serious look into the allegations. Speaking with MMDCEs at a galamsey engagement yesterday, President Akufo-Addo said the District Chief Executive has been invited to defend himself against the charges. Yaw...
Fintech players laud BOG’s caution to MoMo loan, defaulters
Players in the fintech space have praised the announcement by the Bank of Ghana that defaulters of Momo loans stand the risk of being denied access to future credit facilities adding that it would help enhance Ghana’s credit system. Speaking to Citi Business News on the sidelines of the launch of the Qore ID Chief Executive of the tech firm, Esigie Aguele, expressed confidence that the move by the BOG could significantly reduce the rate of default which remains a major challenge in the fintech ecosystem. “A lot of credit lenders actually build products on our infrastructure and we know...
Cocoa price goes up by 21%; now GH¢800 per bag
Government has pegged the producer price for cocoa at GH¢800 per bag of 64kg. The new price takes effect from Friday, October 14, 2022, for the 2022-2023 crop season. This depicts a 21 percent increase from GH¢10,560 per tonne to GH¢12,800 per tonne. Minister for Food and Agriculture, Dr. Owusu Afriyie Akoto made the announcement at a press briefing in Accra today, Wednesday, October 5, 2022. “The 21% rise in the producer price of cocoa is a testament to Government’s resolve to ensure farmers earn a decent income and make cocoa farming lucrative. Government will continue to implement initiatives to...
Fire destroys building at Makola
Fire has destroyed a building at Makola near the White Chapel in Accra.The incident occurred on Wednesday October 5. Six (6) fire engines including a TL and Water Tanker were sent to the scene to contain the fire situation, the Ghana National Fire Service said. Accessibility to the affected shops was a challenge due to hardcore burglar proofing, teh service indicated. Fire has been checked from further spread and now confined to the affected shops. Electricity power supply in the area were isolated to enhance rigorous firefighting and prevent possible risk of electrocution of Firefighters. Items on fire include highly combustible cosmetic...
SIM cards being pre-registered with people’s Ghana Card & sold – CPA alleges
The Consumer Protection Agency (CPA) has expressed concern over the influx and sale of pre-registered SIM cards in Ghana. It has described the situation as a National Security threat and has called on the mandated agencies to act swiftly to salvage the situation. CPA has indicated that fraudsters are pre-registering SIM cards with details of unsuspecting ‘Ghana Card’ holders and sold on the open market. A market survey CPA claimed to have conducted discovered sale points at Airport, Kwame Nkrumah Circle and Tip Toe Lane, where such SIM cards are sold between GH¢10 and GH¢20. Chief Executive of CPA Kofi Kapito,...
Fighting galamsey cost me and NPP votes in 2020 – Akufo-Addo
President Nana Addo Dankwa Akufo-Addo has said that the fight against illegal small scale mining (Galamsey) cost him and his party, the New Patriotic Party (NPP) significant losses in the 2020 general elections especially in the mining areas. This, he said, shows that the commitment he made to put his presidency on the line in the fight against galamsey was not a reckless statement. Speaking during a meeting with the National House of Chiefs and some Municipal Metropolitan and District Chief Executives (MMDCEs) in Kumasi on Wednesday October 5, he said “Since I took office I have made it a central feature...
Ghana will receive the World Cup trophy one day- Daniel-Kofi Kyereh
Black Stars midfielder, Daniel-Kofi Kyereh, believes that the Black Stars is capable of winning the World Cup trophy sometime in the future. Ghana have participated in three World Cup tournaments and went as far as the Quarter finals in the 2010 edition. But, ahead of the 2022 competition, Ghana have been struggling to earn victories, and fans generally do not believe that Otto Addo and his men will perform well in the tournament and other world cup tournaments. But the 26-year-old believes that Ghana have the potential to win the trophy one day. “Yes! Ghana will receive the World Cup...
Ghana needs $1.5bn support from IMF to shore up public finances, regain access to credit markets – World Bank
The World Bank has said Ghana needs $1.5billion assistance from the International Monetary Fund (IMF). This could help to shore up public finances and regain access to credit markets, it said. The World Bank explained in its October 2022 Africa Pulse Report that debt is expected to jump in Ghana to 104.6 percent of GDP, from 76.6 a year earlier amid a widened government deficit, massive weakening of the cedi, and rising debt service costs. “The country’s debt is expected to remain elevated at 99.7 and 101.8 percent of GDP in 2023 and 2024, respectively. Tightening of financial conditions globally along with...
Ghana’s debt to jump to 104.6% of GDP – World Bank
The World Bank has projected that public debt is projected to nudge up in non-resource-rich countries, up to 65.6 percent of Gross Domestic Product (GDP) in 2022 from 65.1 per cent in the previous year. Debt is expected to jump in Ghana to 104.6 percent of GDP, from 76.6 a year earlier amid a widened government deficit, massive weakening of the cedi, and rising debt service costs, the World Bank said. “The country’s debt is expected to remain elevated at 99.7 and 101.8 percent of GDP in 2023 and 2024, respectively. Tightening of financial conditions globally along with the fall...
Weija spillage: Our immediate focus is to rescue stranded persons, expand estuary – NADMO
The National Disaster Management Organisation (NADMO) says its immediate focus is to rescue stranded victims of the Weija Dam spillage. A Deputy Director of NADMO, Abu Ramadan also said his outfit is working to “expand and open estuaries so that the water can run into the sea so that we can see the levels drop. That is the main focus for now.” Many have been displaced by the rising waters from the spillage. The assembly has created about three estuaries at the Bojo beach to facilitate the movement of the water into the sea. But it still warned residents to brace...