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Wed
14
Mar
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New formula for interest rate calculation to be implemented in April

Commercial Banks in the country are expected to start using a new formula for interest rates calculation from April this year.

The Ghana Reference Rate as it is referred to is already being described by industry watchers as revolutionary because it could deal with this age-old problem of lack of transparency in determining interest rates.

This will help as industry players believe it contributes to some banks having an undue advantage in the banking sector.

Why Ghana Reference Rate?

Sources tell JoyBusiness the introduction has been influenced by challenges with the current module for interest rate calculations and attempts to move towards a more market-friendly and relevant structure.

The Bank of Ghana (BoG) is also looking at moving towards a system where there is a laid-down procedure of calculating interest rates among various commercial banks to ensure equity and high level of transparency.

History

Mon
05
Mar
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Jordan Ayew nominated for Swansea City award

The striker's purple patch of form has been rewarded with a place among the nominees for the Player of the Month gong.

Ghana international Jordan Ayew could win Swansea City's Player of the Month award for the second successive time after being shortlisted for February's honour.

The frontman is part of a three-man list, which also includes South Korea ace Ki Sung-Yueng and English midfielder Sam Clucas.

The nomination comes a month after Ayew was adjudged the club's best player in January.

The winner of the award will be decided by public votes.

Of six games played in February, he started three, netting once.

The lone goal came in a 2-0 triumph over Sheffield Wednesday in the FA Cup.

In all, the Ghanaian has 29 topflight appearances, involving 26 starts and six goals, to his name this season.

Mon
05
Mar
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Martin Amidu officially begins work today

The Special Prosecutor, Martin Amidu, will begin work on Monday, according to Joy News sources in government.

Mr Amidu was sworn into office by the President two weeks ago and is expected to lead government’s anti-corruption crusade.

Mr Amidu received an overwhelming endorsement from Parliament’s Appointments Committee after his vetting last month.

His office, sited at Labone in Accra has been specially selected to ensure adequate independence from other ministries, in the discharge of his duties.

First cases

Mr Amidu has reportedly hit the ground running by going for details of a high-profile corruption case that rocked the country in 2011.

Details are sketchy, but Daily Guide newspaper reports that the Special Prosecutor, who is noted for his stance on corruption issues, appears to have settled on the Woyome GH¢51.2 million scandal as his first national assignment.

Tue
20
Feb
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Parliament approves Amidu as Special Prosecutor today

Parliament is expected to approve the nomination of 'Citizen Vigilante', Martin Amidu, as Special Prosecutor on Tuesday.

A report of the Appointment Committee of Parliament which has reportedly approved Mr Amidu’s nomination, but the report will have be debated by legislators on the floor of the House.

Only one MP on the 26-member committee voted against Amidu's nomination.

Alhassan Sayibu Suhuyini has said although Mr Amidu is a man of good intentions and very competent, he is not suitable for the office.

The Tamale North legislator said the former Attorney General took certain wrong decisions and actions before being appointed and that may affect his work as Special Prosecutor.

However, Mr Amidu has enjoyed support from both the Majority and Minority sides of the House despite concerns he may not be qualified for the position due to his age.

Fri
09
Feb
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Government signs $600m deal with Dubai firm for medical university, hospital

Government has signed a Memorandum of Understanding (MoU) with Dubai-based Thumbay Group for the establishment of a Teaching Hospital and a medical university in Ghana.

The deal came three months after Vice President Dr Mahamudu Bawumia toured the facilities of the company and campus of the Gulf Medical University at Ajman in the United Arab Emirates.

The university expected to be built in Ghana would be known as Gulf Medical University (GMU).

The Thumbay Group will liaise with the Education and Health Ministries to facilitate the establishment of the Ghana campus of the Gulf Medical University and the Thumbay Teaching Hospital in the Greater Accra Region.

The two projects are expected to take between five to eight years to be completed at an estimated cost of $600 million.

Fri
05
Jan
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Minority to oppose Ampaw, Addison as choices for Special Prosecutor office

Parliament may have to brace for a feisty fight as Minority National Democratic Congress (NDC) signal opposition to the names being bandied around as the choice for Special Prosecutor.

Two of the President's lawyer friends who are partners at the President's law firm have been named as the likely choice for the positions.

Philip Addison may deputize for the main man Akoto Ampaw, choices the President is considering and may announce "very soon".

The two were key in the president's legal team that challenged at the Supreme Court, the declaration of John Mahama as the winner of the 2012 presidential elections.

President John Mahama's government went on to lose the 2016 elections to Akufo-Addo who has vowed to fight corruption which is believed to have been rife under his predecessor.

Fri
05
Jan
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2nd Deputy Governor of BoG officially steps down

The Second Deputy Governor of the Bank of Ghana, Dr Johnson Asiama, has finally tendered in his resignation letter.

This should mean that he has officially vacated the position he has held at the central bank over the past year.

In December of 2017, Joy Business broke the news about his resignation with follow-up indications by his lawyers on moves being made by Government to push him out of office.

Joy Business understands that the delay to exit has been driven more by behind-the-scenes negotiations between Dr Asiama, Bank of Ghana and the government.

When was this decision taken?

According to a letter intercepted by Joy Business, the decision to disengage from the Bank of Ghana happened some two weeks ago and a letter was finally tendered in last week Wednesday, December 27, 2017.

Tue
19
Jul

I See Both Hitler And Stalin In Akufo Addo - Malam Issa

Nana Akufo-Addo is an incarnate of Adolf Hitler and Joseph Stalin, former Youth and Sports Minister in the Kufuor administration, Malam Ali Yusuf Issa, has said.

According to the former PNC national chairman, who was jailed for four years for misplacing $46,000, the three-time flagbearer of the main opposition New Patriotic Party (NPP), is “not the person qualified to lead Ghana” because he fans war rather than peace.

“Me, Malam Issa, I see both Hitler and Stalin in him [Nana Akufo-Addo] because he is not a peacemaker,” the former failed Adentan parliamentary aspirant, who contested on the ticket of the governing National Democratic Congress (NDC), told Chief Jerry Forson on Accra100.5FM’s breakfast show Ghana Yensom on Tuesday July 19.

It is recalled that Mr Akufo-Addo was the Attorney General, in the Kufuor administration, under whose supervision Mr Issa was prosecuted and jailed for causing financial loss to the state.

Tue
06
Oct

Striking nurses fight hospital heads

The Spokesperson for the Coalition of unpaid nurses is accusing hospital administrators of undermining a strike action the coalition called to demand unpaid salary arrears, Monday.

According to Jefferson Danquah, his members are being threatened with dismissal if they go on strike.

Over 7,000 unpaid nurses across the country were expected to carry through a strike called by the parent body but Joy News checks across some hospitals indicate the strike failed.

Majority of the nurses who were asked to abandon the hospitals were actually at work performing the duties for which they have not been paid for over a year.

Some of the nurses told Joy News' Matilda Wemega they could not sit at home because of their love for the job.

One of the nurses said she may lose her job if she went on strike.

In an interview, Jefferson Danquah said some of the nurses are capitulating to threats of dismissal.

Tue
06
Oct

Ghana will work again under NPP – Akufo-Addo

Presidential candidate of the New Patriotic Party, Nana Akufo-Addo is promising to restore hope in the economy if elected in 2016.

He says challenges with healthcare delivery, unemployment and general downturn of the economy are evidence of a visionless government.

In his address to supporters in the Brong Ahafo regional capital, Sunyani during his nationwide ‘Rise and Build Tour’, he said that Ghana, with abundant resources, must be managed by competent hands.

Nana Akufo-Addo was accompanied on the tour by leading members of the party including Alan Kyerematen, Dr. Kofi Konadu Apraku and Second Deputy Speaker of Parliament, Joe Ghartey.

The flagbearer assured that if the party is voted into office in the 2016 general elections, the NPP will “build our country again”.

Nana Akufo-Addo is hopeful unemployment would be reduced under his leadership.

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