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.


Dzamefe Comission recommendations hanging – Foh-Amoaning

A member of the commission which investigated Ghana’s disgraceful show at the World Cup in Brazil is unhappy some of the Commission’s recommendations are treated with contempt.

Moses Foh-Amoaning said even though the Justice Dzamefe Commission stated how issues on bonuses should be handled, it seems nobody is paying attention to it.

His comment follows a disagreement between government and Ghana Football Association on one hand and players of the Black Queens over payment of bonuses.

The Queens who won gold at the just ended All African Games in Congo Brazzaville have not been given all their winning bonuses because the government admitted it is broke. 


SAS Fortune Fund records growth

Despite the economic downturn, the Strategic African Securities (SAS) Fortune Fund recorded an appreciable performance in 2014.

The fund recorded a 20 percent increase in net asset value, growing from GH¢2,604,739 to GH¢3,126,788 at the end of 2014.

Fund Manager, Anthony Degbato who revealed this while briefing stakeholders at the 10th Annual General Meeting (AGM) held in Accra said the fund still remained an attractive investment vehicle for our shareholders and potential shareholders.

He noted that the Fortune Fund posted a return of 14.40% at the end of the year 2014 as against the return on Ghana Stock Exchange Composite Index of 5.4%.

Mr. Degbato said they will also continue to monitor the overall economic indicators and to take advantage of investment opportunities of companies with good valuation and stable business models and re-balance the portfolio of the fund if the need be with a view to maximize returns for our shareholders.


Banking Awards to recognize most cashless-bank

The Ghana Banking awards slated for today, will award banks that are driving the cashless agenda by promoting various electronic payment options.

This is to encourage banks to promote payments with cards on Point of Sales (POS) devices, internet banking and cheques among other non-cash forms of payment.

Last year, organisers of the Banking Awards, Corporate Initiative Ghana, introduced a category to reward the most active e-zwich bank which was supported by Ghana Interbank Payment and Settlement Systems (GhIPSS).

The introduction of the most active cashless bank, also supported by GhIPSS, therefore brings to two, the award categories, sponsored by the national electronic payment infrastructure provider.

The introduction of the latest category was announced during the launch of this year’s Ghana Banking Awards earlier in the year.
Globally, countries are adopting electronic payment systems with less dependence on cash for transactions.


COTVET builds capacity of woodworkers

The Woodworkers Association of Ghana (WAG) is accessing support from the Skills Development Fund (SDF) under the Council for Technical and Vocational Education and Training (COTVET) to upgrade skills of master craftsmen.

Local woodworkers are struggling to compete with imports of furniture and other wood products into Ghana.

To survive the industry, Ghanaian wood processors require the skill sets and equipment upgrade to produce standard products.

“If you are in the industry and you don’t develop your skills, you’ll be weeded out, you’ll not fit into the system because as more quality products are coming, you also need to sharpen your skills,” observed Joseph Boakye, Director of the Forestry Commission Training Centre (FCTC).

The Centre has been contracted to train 1,200 members of WAG across the country with a grant of Gh827,000 by SDF-COTVET.


Doctors extend mass resignation date as strike continues unabated

Members of the Ghana Medical Association (GMA) have voted at crucial General Assembly meeting to remain on strike for two more weeks.
They have however agreed not to resign en masse as threatened by their leadership two weeks ago over an absence of a documented conditions of service.
At the meeting in Accra, 213 doctors voted for the status quo, while 148 voted to resume duty. That is by a margin of 65 votes, the doctors voted to continue the strike that is set to enter its third week.
The repercusions of this decision is expected to be grim for the health sector already reeling under the strike action by more than 2,000 doctors.
The stance of withdrawing emergency services continues after out-patient services was suspended two weeks ago.
Government will be disappointed in the decision after holding crunch talks with GMA Friday pleading that the doctors resume while negotiations continue.


Gov’t confident in proposed changes to banking laws

Government is confident proposed changes to the current banking laws will go a long way bring to confidence to the banking sector.

Government is currently reviewing the laws that guides operations of banks and non-bank financial institutions. 

Some of the laws include the specialized Deposit Taking Institution Bill, Depositor’s Bill and the Ghana Deposit Protection Bill which is currently before Parliament for consideration and possible approval.

Speaking to Joy Business after the Annual General Meeting of the Ghana Association of Bank, Mona Quartey, said these reviews are critical because it will facilitate the development of the entire financial sector, provide an appropriate and robust legal framework to deal with emerging risk and vulnerabilities in the banking system.

In a related development the Managing Director of GCB, Simon Dornoo has been re-elected as the President of the Ghana Association of Bankers.


Gov’t institutes measures to save economy

Finance Minister Seth Terkper has given the assurance that measures are being instituted to minimize the impact of declining commodity prices on the economy.

Prices of commodities like gold, cocoa and crude oil have been declining heavily on the international market, a development that will put serious pressure on government’s finances.

Some economists are worried that this could put undue pressure on revenue because government depends heavily on these commodities to fund projects outlined in the budget. 

But answering questions at London-based international think thank Chatham House, after a presentation on Guiding Ghana to Economic Recovery, Mr. Tekper said measures that have been outlined in the revised budget, will ensure that revenue does not suffer in the coming months.

In another development, Mr. Seth Terkper says the depreciation of the Ghana cedi should not be blamed on current challenges facing the economy alone.


Kwame Dzokoto for NDC MP?

Comedian and actor Kwame Dzokoto is popular on radio and television but will that be enough to win him a seat in Ghana’s legislature?

Social media platforms have been awash with posters purported to have emerged from the actor.

The posters suggests that Seth Kwame Dzokoto may be staking a claim for the Parliamentary ticket of the governing National Democratic Congress in the Tarkwa Nsuaem Constituency of the Western Region.The poster has sent social media buzzing.

Attempts by to get confirmation from the comedian proved futile.

Sources close to Kwame Dzokoto, however, disclosed to that he is using the posters to test political waters.

He wants to measure his popularity and see if it is a wise decision to vie for the Tarkwa Nsuaem seat which is currently held by the New Patriotic Party (NPP).

It is unclear if he will be contesting in the National Democratic Congress (NDC) primaries later this year.


GES investigates child abuse case School

The Ghana Education Service is investigating a case of child abuse at the Mary Mother of Good Counsel School.

The investigation follows reports that an eight-year-old pupil was tied and his mouth taped for talking too much in class.

The parent of the of the victim has taken the case to court demanding sanctions against the headmistress of the school and a teacher, named only as Ms Turkson. 

She also wants compensation for her son and a refund of the expenses incurred in moving the son to another school.

The school authorities have not been available for comment.

The Chairman of the Ghana National Education Campaign Coalition Bright Appiah is asking the Ghana Education Service to close down the school pending the court's decision on the matter.

He told Joy News the situation at the Mary Mother of Good Counsel School presents a fine opportunity for the GES to examine how private schools in the country are run.


LIKE Us On Facebook

Subscribe to Myjoyonline