Ghana Today - Information Gateway to Ghana - Ghana Today - Information Gateway to Ghana - News Ghana Today, The Information Gateway to Ghana offering the latest Ghana based news, sport, tourism, entertainments, music, dating and much more. http://www.ghanatoday.com Tue, 19 Mar 2019 04:34:57 +0000 Joomla! - Open Source Content Management en-gb Sarkodie, Obrafuor Are Not Good ‘Singers’ – KK Fosu http://www.ghanatoday.com/news/entertaiment/item/3547-sarkodie-obrafuor-are-not-good-‘singers’-–-kk-fosu http://www.ghanatoday.com/news/entertaiment/item/3547-sarkodie-obrafuor-are-not-good-‘singers’-–-kk-fosu Sarkodie, Obrafuor Are Not Good ‘Singers’ – KK Fosu

 

 

 

Highlife artiste KK Fosu has commended rappers who try incorporating singing into their compositions, but has said they still fall short of the standard expected of them as singers.

Artistes, including Obrafuor, Sarkodie, EL and Kofi Kinaata, noted for their raps, are evolving into singers, and can be heard singing on a number of recent tracks.

KK Fosu, who is back on the scene with a new composition, Roll Call, sees the evolution as a good move, given it will make the rappers more versatile, but says rap-singers will need to do more to be regarded as serious singers.

The Sudwe composer explained that unlike rap, which is essentially “talking” and only involves arranging verses, singing “goes with rhythm”, which is “not easy”, hence “it is good for an artiste to learn how to sing”.

Asked if he regarded any of the rap artistes as serious singers, he replied tersely: “No, none of them.”

However, KK Fosu was impressed with the exploits of Yaa Pono and says the rapper can do better as a singer than as a rap artiste.

“…Yaa Pono, that boy is great, but it looks like no one is paying attention to his music. That guy can sing better than rapping, because he falls on notes well, whatever keys he raises the guy makes sense,” he told Nana Romeo on Accra100.5FM’s mid-morning show Ayekoo Ayekoo on Friday March 31.

He advised rappers intent on incorporating singing into their compositions to learn it well because “singing is not easy”.

KK Fosu’s other hit tracks include Number One and Oga.
   
Source: Classfmonline

 

 

 

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evans@ghanatoday.com (kwame) Entertaiment Mon, 03 Apr 2017 08:29:41 +0000
Only 2% of primary two pupils can read – Report http://www.ghanatoday.com/news/social-news/item/3546-only-2-of-primary-two-pupils-can-read-–-report http://www.ghanatoday.com/news/social-news/item/3546-only-2-of-primary-two-pupils-can-read-–-report Only 2% of primary two pupils can read – Report

 

 

 

Madam Guitele Nicoleau, the Chief of Party on Learning on Thursday disclosed that less than two percent of children in primary two are able to read fluently in the Ghanaian and English languages.

She said about 20.4 percent of children in primary three read with minimum competency and proficiency in English. Madam Nicoleau disclosed this during the opening of a two-month Ghanaian language materials development writers’ workshop on learner’s project held in Tamale.

The learner’s project is being funded by USAID and implemented throughout the country aimed at supporting the Ministry of Education and the Ghana Education Service to improve on reading performance in the primary schools. She said the project policies would improve on teaching and learning materials as well as training and coaching of teachers.

She said stakeholders of the project would be monitoring and evaluating as a means of measuring progress and produce evidence which would also increase support for reading at the district, regional and national levels.

According to Madam Nicoleau, 1,700 circuit supervisors and language experts would be benefiting from the districts, while about 6,700 schools and 22,800 teachers would also benefit.

She mentioned that 1.1 million classroom blocks from Kindergarten one-two to primary two pupils would also benefit from the project.

Mrs Cynthia Bosumtwi-Sam, the Acting Deputy Director of Ghana Education Service, said the project would solve the national challenges of less reading of children in the country. She urged the Teachers and Directors of the schools to make use of the learning materials provided to them to enhance quality education in the country.

Dr. Paul Opoku-Mensah, the Senior Language Policy Advisor of Party Learning, stated that, Ghanaian languages should be used as a medium of instruction from Kindergarten to primary three to help the children learn how to read both the local and the English languages. James Dobson, the Director of Education at USAID, encouraged stakeholders and other partners to support the Ministry of Education and the Ghana Education Service to accomplish the goals of the project.

Source: GNA

 

 

 

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evans@ghanatoday.com (kwame) Social News Mon, 03 Apr 2017 08:17:25 +0000
Ghana, Japan sign $58.4m grant agreements for road and health infrastructure http://www.ghanatoday.com/news/business/item/3545-ghana-japan-sign-$584m-grant-agreements-for-road-and-health-infrastructure http://www.ghanatoday.com/news/business/item/3545-ghana-japan-sign-$584m-grant-agreements-for-road-and-health-infrastructure Ghana, Japan sign $58.4m grant agreements for road and health infrastructure

 

 

 

Ghana and Japan on Friday signed two grant agreements totalling $58.4 million, geared towards the improvement of international corridor roads and sector budget support to promote health service delivery.

The signing of the agreements was initialled for Ghana by Madam Shirley Ayorkor Botchwey, Minister for Foreign Affairs and Regional Integration, while that of Japan was by Mr Kaoru Yoshimura, the Ambassador Extraordinary and Plenipotentiary of Japan and Mr Koji Makino, the Chief Representative, Japan International Cooperation Agency (JICA).

The grant agreement signing was done in Accra at a reception to mark the 60 years anniversary of diplomatic relations between the two nations.

The first is $56.6 million (¥ 4.375 billion) grant agreement for the project for the Improvement of International Corridor Roads in Ghana.

This comprises of the implementation of the project for improvement of the Tema Motorway Roundabout and the detailed design for the rehabilitation of National Trunk Road N8 Phase II.

The concept of the rehabilitation of the National Trunk Road N8 Phase II involves Rehabilitation of the 31.2km Assin Fosu – Asssin Praso road section with asphalt concrete pavement and the dualisation of the 1.2km section in the centre of urbanised area of Assin Fosu township.

Others are the replacement of an existing railway overpass bridge with a box culvert, reconstruction/rehabilitation of drainage facilities between Assin Fosu and Assin Praso and installation of a toll collection facility at the south of Assin Praso township.

The second grant is a $1.8 (¥ 200 million) sector budget support to promote health service delivery in Ghana.

The overall aim of this grant is towards poverty alleviation through improved health status of the Ghanaian population and the attainment of Universal Coverage of Health Services in Ghana.

The grant, which is to support government budget allocation to the primary health care level, would be given to the Ministry of Health for onward allocation to the Ghana Health Service, which is the implementing body of the grant.

The grant amount would be disbursed with 2017 to support community health activities in Northern, Upper East and West Regions.

It would specifically support home visit activities of Community Health Officers (CHOs) and system strengthening.

Madam Botchwey said the event was an important milestone for the two countries to recognise the significance of bilateral partnership that they have had in the process of their socioeconomic development through the Japanese Official Development Assistance (ODA).

“Japan has remained a reliable friend of Ghana, since the arrival of the great scientist, Dr Noguchi of blessed memory in the then Gold Coast in 1927, to conduct research into yellow fever for the survival of mankind.

“The relationship between the two countries was further consolidated, when Ghana attained Independence in 1957, with the two countries establishing diplomatic relationship that year,” she said.

“The strengthening of relationship between our two countries over the years had been characterised by our common desire to forge friendship and corporation based on mutual respect and support for each other’s development aspiration, as well as solidarity in the pursuit of peace, stability and security,” she added.

She said remarkably, the traditional bonds of friendship and corporation forged at the political level had greatly manifested in the steady economic growth of the two countries.

Madam Botchwey said over the past decades, Ghana and Japan had enjoyed fruitful economic and technical corporation as evidenced by the latter’s assistance to the former in practically every aspect of the economy; such as finance, agriculture, food aid, governance, infrastructure development, culture, education and trade.

On the international scene, the Foreign Minister said, Ghana and Japan share common positions on global issues such as the reform and composition of the United Nations governance structure.

She said the two countries had over the years supported each other’s candidature at the international level.

“The Government and people of Ghana sincerely appreciate the considerable financial and material support extended by Japan to Ghana over the years in our quest for economic development,” she said.

Mr Yoshimura said the signing of the two grant agreements, was a proof of the strength of the relationship between Ghana and Japan.

“Japan has been a consistent development partner to Ghana since Japan’s Official Development Assistance (ODA) to Ghana started in 1963,” he said.
“I am, therefore, very much excited about how far our two countries have come,” he said.

In a flashback, Mr Yoshimura recounted Ghana Japan relationship from 1957 during the era of Dr Kwame Nkrumah, then Ghana’s Prime Minister and Mr Nobusuke Kishi, then Japan Prime Minister.

He said this year would mark the 90th anniversary of the arrival of Dr Hideyo Noguchi to conduct medical research towards the cure for yellow fever in Ghana.

Dr Noguchi, unfortunately, met his untimely death through the yellow fever research; and in his memory, the Noguchi Memorial Institute for Medical Research was set up at the University of Ghana.

Mr Kwaku Agyemang-Manu, Ghana’s Health Minister, lauded the Japanese Government for the support.

He said the funds would be used for their intended purposes to accelerate Ghana’s socioeconomic development.

Among the key people, who witnessed the grant signing agreements include Mr Sylvester Parker-Allotey, Ghana’s Ambassador to Japan, Professor Ebenezer Oduro Owusu, the Vice-Chancellor, University of Ghana and Mr Kaz Tamura, the Chairman of Japanese Community in Ghana.

Source:GNA

 

 

 

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evans@ghanatoday.com (kwame) Business Mon, 03 Apr 2017 08:10:25 +0000
Mahama finally packs out http://www.ghanatoday.com/news/politics/item/3544-mahama-finally-packs-out http://www.ghanatoday.com/news/politics/item/3544-mahama-finally-packs-out Mahama finally packs out

 

 

 

Former President John Dramani Mahama has finally packed out of the No.3 Prestige Link residence at Cantonments, Accra, which he wanted to keep as part of his end-of-service package.

After public pressure had reached a crescendo, the former president who lost miserably to the New Patriotic Party (NPP) candidate Nana Addo Dankwa Akufo-Addo, during last year’s crucial election, said he was no longer interested in keeping the property which is the official residence of sitting vice presidents.

He was said to have packed out last Friday and former Chief of Staff, Julius Debrah, reportedly signed an inventory of the residence prepared by officials of the government and the Public Works Department (PWD) on Monday, February 6, to signify the official handing over of the house.

Ex-President Mahama is said to be currently residing at Airport Residential Area, near Gold House in Accra, according to the Greater Accra Regional Organizer of the National Democratic Congress (NDC), Anthony Nukpenu.

The ex-president’s request to keep the facility sparked outrage and as the debate ensued, the government said it had declined the request.

Preconceived Plan

It is suggested that Mr Mahama wanted the No. 3 Prestige Link residence as part of his retirement package the moment he stepped into that facility as then vice president and that’s why he ordered the construction of a new one to house the current vice president and subsequent ones at Cantonments, with all its security risks.

According to sources, there were about 17 luxurious Toyota Avalon saloon cars, Land Cruisers and BMW, but since the ex-president packed out, only one Avalon is said to have been left for the new government as contained in the handing over notes.

The posh vehicle were all said to have been driven away to unknown locations.

Most of them at the presidency were reportedly auctioned to (presidential) staffers and other ‘powerful’ NDC gurus who allegedly changed the ownership with the help of some DVLA staff just before Nana Akufo-Addo was sworn in as president.

Recently, it emerged that Mahama was demanding five saloon cars and five four-wheel drive vehicles as part of the retirement package; but it is unclear if the unaccounted-for Toyota Avalons were part of the demand.

Currently, saloon cars left in the presidential pool are those reportedly left by President Kufuor’s administration when he left office in January 2009 and which the NDC administration never used, as well as aged vehicles used by the immediate past NDC administration.

A statement from Mr Mahama’s office had said that he found it important to move out of the building to avoid marring the spirit of cooperation between the two sides of the Transition Team.

Even after coming public to say he had changed his mind, it took him almost a month to pack out.

Former President Mahama’s request to keep the bungalow appeared contrary to the approved recommendations set by the Prof. Dora Francisca Edu-Buandoh committee on Emoluments and Conditions of Service for Article 71 office holders.

The committee’s reportedly did not recommend a house for him but rather agreed on 40 percent of his salary in lieu of accommodation.

Apparently, the NDC government after realizing that there was no basis to appropriate the house, allegedly used its majority in parliament to secretly amend the Prof. Edu-Buandoh Committee report to include housing settlement for outgoing President Mahama.

Even after the amendment, the immediate-past NDC government did not say then President Mahama’s abode should be given to him.

Source: Dailyguideafrica.com

 

 

 

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evans@ghanatoday.com (kwame) Politics Wed, 08 Feb 2017 15:52:35 +0000
Daddy Lumba Not In My ‘Class’ – Kojo Antwi http://www.ghanatoday.com/news/entertaiment/item/3543-daddy-lumba-not-in-my-‘class’-–-kojo-antwi http://www.ghanatoday.com/news/entertaiment/item/3543-daddy-lumba-not-in-my-‘class’-–-kojo-antwi Daddy Lumba Not In My ‘Class’ – Kojo Antwi

 

 

 

Music maestro, Kojo Antwi has explained that as much as Daddy Lumba is a great musician, he is not in his ‘class’. According to him, his exploits as a musician puts him on a higher pedestal than Daddy Lumba.

 

Recently, there has been numerous debates on social media as to who is bigger between two of Ghana's biggest music acts; Daddy Lumba and Kojo Antwi.

While he notes that such comparisons are unnecessary, the music maestro believes that he has done more to put him above Daddy Lumba.

Speaking on the Weekend Warmer on Joy FM with DJ Black, the ‘Dadie Anoma’ hit singer said, “they should have had this debate ten years ago.”

He explained that, “Daddy is a great musician, he’s inspired me a lot, we were meant to be here at this time but for me I think, if you listen to what I do, the kind of shows I do and the rest.

"I think when it comes to comparison, I’m not saying Daddy Lumba doesn’t deserve to be there, but I think my target as being with the Angélique Kidjo, Salif Keita, Youssou N'Dour, [I am way up]. If you don’t achieve that, you will fall in between.”

Apart from the numerous Ghanaian awards, he has won two Kora Awards and he is the first Ghanaian to be nominated for the Black Entertainment Television (BET) Awards in 2010. With 22 albums to his credit, the musician and current Chairman of the Ghana Music Rights Organisation (GHAMRO), has been busy in the studio recording a new 14-track album. The album will be released during the first quarter of 2017.

One of the songs Ghanaian should expect from the new album is his collaboration with Dancehall act, Stonebwoy. “I spoke to Stonebwoy three days ago, there is a track called ‘Akyekyede3 Nante3’ and I believe he will do great on that.”

Like the story of Jonah, Kojo Antwi, who dropped the name Julius because of his believe for African names, couldn’t run away from the fact that he was born to do music. As a kid, he was fond of imitating some music greats including Nana Kwame Ampadu.

For his music inspiration, he revealed that he is inspired by “everything that happens around me” and interestingly, he hardly listens to his songs because “Every time I listen to the songs it’s like you will hear something you wished could have been done better.”

Kojo Antwi does not only sing, he can also play instruments like keyboard, guitar, drums and does the compositions himself. He, however, works with a team for the productions.

Asked why he doesn’t show his face on his album covers, the music maestro explained that he believes “Too much exposure can hurt your brand” and therefore does not use his image on his albums.

He urged entertainment personalities to control what they put out in the public domain.

When DJ Black sought to find out what his favourite song out of his impressive catalogue is, Kojo Antwi said “my best is yet to come”

The music maestro listens to a lot of Ghanaian artistes because “I hear a lot of me in a lot of the young ones. When I was coming up, I refused to be boxed,” he explained his desire to be unique.

He believes that “We need varieties, we have to allow them [current musicians] to be what they are.”
 
Source: Joy News

 

 

 

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evans@ghanatoday.com (kwame) Entertaiment Wed, 08 Feb 2017 15:49:35 +0000
NDC defeat: GFA popped champagne – Nii Lantey Vanderpuye http://www.ghanatoday.com/news/politics/item/3542-ndc-defeat-gfa-popped-champagne-–-nii-lantey-vanderpuye http://www.ghanatoday.com/news/politics/item/3542-ndc-defeat-gfa-popped-champagne-–-nii-lantey-vanderpuye NDC defeat: GFA popped champagne – Nii Lantey Vanderpuye

 

 

 

Former Minister of Youth and Sports, Edwin Nii Lantey Vanderpuye, has accused officials of the Kwesi Nyantakyi-led Ghana Football Association (GFA) of rejoicing over the defeat of John Mahama and the National Democratic Congress (NDC) in the 2016 presidential elections.

Speaking in an interview with Class91.3FM’s Moro Awudu on the Executive Breakfast Show, Mr Vanderpuye wondered why the GFA would want the NDC’s or his downfall.

Ghanasoccernet.com also quoted GFA President Kwesi Nyantakyi as having made comments to the effect that Mr Vanderpuye belonged to history following the outcome of the December 7 presidential poll, which ushered in a new government, with Mr Vanderpuye handing over as Sports Minister in January.

A December 14, 2016 story also quoted Mr Nyantakyi as saying on Accra-based Starr FM: “The sports minister was antagonistic to us but we were not and I don't know why he did that, but now he belongs to history let’s just forget about him and think ahead."

But Mr Vanderpuye, who has been at loggerheads with the Nyantakyi-led GFA, was not enthused and replied, stating: “I should be history because NDC is no more in power but I am not history in parliament. Yesterday [Tuesday, February 8], his minister appeared before me. [As long as] I continue to be a Member of Parliament)…I could summon him to appear before parliament. So me being history is his word; he knows, if he understands the relevance and the strength in the power of parliament, he will not say an MP is history.”

He continued: “Is that why they were praying that I lose my seat in Odododiodioo? Is that why some people from the football fraternity came and they were financing my opponent for me to lose?

“Is that why they popped champagne at the GFA Secretariat when NDC lost the elections? …They popped champagne and played music. I have the evidence on video, I have the video. They saw me as a problem but I am not a problem. I was fighting in the interest of mother Ghana”.

He raised concerns about the huge amounts of money that have been spent on the Black Stars within the past 12 years without any visible results.

For him, if all those “monies were saved, we would not have to go to the International Monetary Fund (IMF)”.

“Do you know how much money has come from, which is a state institution, to the GFA and the Black Stars? Do you know how much money they have received from FIFA on behalf of Ghana? If you put all that together, you will be amazed about the amount of money that have been invested into football without any reasons,” he complained.

Source: classfmonline.com

 

 

 

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evans@ghanatoday.com (kwame) Politics Wed, 08 Feb 2017 15:41:02 +0000
Kwabena Kwabena allegedly assaults event organizer, court injunction on ‘Love’ concert http://www.ghanatoday.com/news/entertaiment/item/3541-kwabena-kwabena-allegedly-assaults-event-organizer-court-injunction-on-‘love’-concert http://www.ghanatoday.com/news/entertaiment/item/3541-kwabena-kwabena-allegedly-assaults-event-organizer-court-injunction-on-‘love’-concert Kwabena Kwabena allegedly assaults event organizer, court injunction on ‘Love’ concert

 

 

 

There seems to be no saving grace for highlife artist, Kwabena Kwabena, who has been in the headlines for the wrong reasons in the last couple of weeks.

With his marital turmoil still lingering, the artist has been caught up in yet another situation involving some grave contention with event organizers, ABBA Investment, which has led to the assault and detention of an official of the Events firm – www.entertainmentgh.com can state.

Jingles, the Operations Manager for ABBA Investment was said to have served Kwabena at the premises of Metro TV this morning, a notice of a court injunction on Kwabena’s ‘Love Night’ Concert scheduled for February 10, 2017.

The action was said to have angered the artist, who, together with some security men, were reported to have assaulted the Operations Manager, allegedly.

Jingles was said to have reported the assault at Cantonments Police Station but a counter report by the artist got the Manager detained at the station.

In a Statement of Claim, the Plaintiff, ABBA Investments claims jointly and severally against Kwabena Kwabena and his KBKB Music Limited, a perpetual restraining order and also some 180, 000 Cedis being sponsorship funds given to Kwabena Kwabena by VITA MILK when the last event was held. They are also seeking some 13, 000 Cedis in ticket sales revenue from the first edition of F14 from the artiste.

ABBA Investment and Kwabena Kwabena have staged the F14 Concert together for the last two editions and the Company is also accusing the artist of breaching their contract and taking advantage of their relationship to get hold of vital information.

They claim that the artist has ‘stolen’ their concept and is staging his own show, the ‘Love Night’ show.

Calls to personnel at KBKB Music Limited for clarification were not responded to.

Source: entertainmentgh.com

 

 

 

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evans@ghanatoday.com (kwame) Entertaiment Wed, 08 Feb 2017 15:32:35 +0000
We’ll have solid foundation to transform Zongos- Boniface http://www.ghanatoday.com/news/social-news/item/3540-we’ll-have-solid-foundation-to-transform-zongos-boniface http://www.ghanatoday.com/news/social-news/item/3540-we’ll-have-solid-foundation-to-transform-zongos-boniface We’ll have solid foundation to transform Zongos- Boniface

 

 

 

Minister Nominee for Zongo Development and Inner cities, Boniface Abubakar Siddique, has declared his resolve to establish a solid foundation for the transformation of Zongo communities by conscientizing the major stakeholders.


He said this when he was questioned on measures he will take to transform various Zongo communities across the country.

“What I expect is to set a very solid foundation for the total transformation of the inner cities and the Zongos. First of all, I need to embark on a serious conscientization. The mindset of the people, mindset of the government and its state agencies and departments.

Mindset of the NGOs and other non governmental institutions, and mindset of the whole people of Ghana; so everybody will be involved in helping to change the Zongos.”

The governing New Patriotic Party (NPP) promised to transform Zongo communities through the establishment of what it called the Zongo Development Fund.

Asked how this fund will be accessed, the Minister nominee said: “I can assure you that my Ministry will not rush in getting things done. As I sit here, I know the processes that one has to take to have a fund established.

We need to bring a bill through the President to Parliament for consideration before the bill is passed as an Act before it can be accessed.”

He was however quick to add that, his Ministry will be given access to a facility to help carry out the Zongos transformation agenda while it works and waits for the fund to become accessible.

“I am still a baby under the presidency, and so I believe that my budget is still under the President which will be called a facility, and for the facility, I will be able to access to do the job; but if it is a fund it will take me some months, if not years to get it established….I believe while we are working on the funds, we will be accessing the facility which will help me do my job. “

About Boniface Siddique

Boniface Abubakar Siddique is 56 years old. He holds an MA in Economics from the University of Essex, MBA in Financial Management from the University of Exeter, MA in Conflict, Peace and Security from the Kofi Annan International Peace Keeping Center and a BA in Social 6 Sciences from the KNUST.

He worked in the Ministry of Finance for 14 years as an Economic Officer, eventually becoming a Senior Finance Officer. In politics, he has been a two time MP for Salaga from 2001-2009.

He also served as Minister for Water Resources, Works and Housing, Minister for Manpower, Youth and Employment and Northern Regional Minister. He is married with three children.

Source:citifmonline.com / Marian Ansah

 

 

 

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evans@ghanatoday.com (kwame) Social News Wed, 08 Feb 2017 15:20:46 +0000
Over 200 State Cars Missing…Nana Addo Forced To Use His Private Vehicle! http://www.ghanatoday.com/news/social-news/item/3539-over-200-state-cars-missingnana-addo-forced-to-use-his-private-vehicle http://www.ghanatoday.com/news/social-news/item/3539-over-200-state-cars-missingnana-addo-forced-to-use-his-private-vehicle Over 200 State Cars Missing…Nana Addo Forced To Use His Private Vehicle!

 

 

 

Director of Communications at the presidency, Eugene Arhin says over 200 official cars are nowhere to found at the seat of government, Flagstaff House.

The cars, which he said are part of the presidential pool of official vehicles, are missing from the Flagstaff House garage.

Subsequently, he said, President Nana Addo Dankwa Akufo-Addo has been forced to use a 2007 model of a saloon car within Accra.

“President Akufo Addo is currently using a 2007 BMW model purchased by the state during the Ghana @50 celebrations...That is what he is using. So where are the cars?” he questioned.

Speaking on NEAT FM’s morning show dubbed Ghana Montie Eugene Arhin intimated that the president, when going on a long journey outside the capital, uses his own private vehicle for such official duties.

“Just this last week Saturday, the president had to use his private Land Cruiser for an official duty in Kyebi. That is the same Land Cruiser he used during the campaign time” he told host Kwesi Aboagye

He strongly held the belief that government’s decision to set up a committee to retrieve state assets suspected to be in the possession of some individuals in the previous administration will yield fruitful results.
  
Source: King Edward Ambrose Washman Addo/Peacefmonline.com

 

 

 

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evans@ghanatoday.com (kwame) Social News Wed, 08 Feb 2017 15:17:45 +0000
Ghana to foster stronger ties with China – Finance Minister http://www.ghanatoday.com/news/business/item/3538-ghana-to-foster-stronger-ties-with-china-–-finance-minister http://www.ghanatoday.com/news/business/item/3538-ghana-to-foster-stronger-ties-with-china-–-finance-minister Ghana to foster stronger ties with China – Finance Minister

 

 

 

The Minister of Finance has hinted of the new government’s commitment, to develop better relationship with the Chinese, which is aimed at developing a robust economy.

In view of this, the government is expected to meet with the Chinese officials in Ghana led by their ambassador, for the second time since he assumed office to discuss issues of mutual interest and the $3 billion China Development Bank loan (CDB).

In 2011, the Attah Mills/Mahama government secured a $3 billion loan from the China Development Bank (CDB) which is state owned, for major infrastructure development projects in Ghana.

The loan agreement was approved by Parliament in August 2011 amid controversy over the terms and conditions of the loan agreement, particularly, the collateralization of oil against the loan.

But till date, out of the $ 3 billion loan facility, close to about $1 billion has been disbursed.

Speaking to the media on Sunday February 5, 2017, the Minister Finance Ken Ofori-Atta said the ministry would on Monday February 6, 2017 hold its second meeting with the Chinese embassy since President Nana Akufo-Addo was sworn in on Jan. 7, noting that the CDB Chinese loan would be high on the agenda.

“We’re meeting for a second time with the Chinese Embassy” on Monday, and we are trying to nail down and look at an enhanced relationship with China to see how they can support the direction in which we’re now going as we build a stronger economy”

China-Ghana economic cooperation continues to gain momentum. In 2010 the bilateral trade surpassed US$2 billion for the first time. In 2013 it hit US$5.15 billion, ranking 3rd in 24 Mid & West African countries and 7th in Africa.

Therein, Ghana’s export volume to China has seen a year-on-year increase of 86.7%, reaching US$1.2 billion in 2015. China has become one of the major investment source countries of Ghana with the non-financial FDI reaching US$1.5 billion.

The Minister of Finance Ken Ofori Atta, since taking over the finance ministry, has said the budget deficit and government debt are much higher than had been expected, adding pressure to public finances.

This therefore makes it important for the government to look elsewhere for cheaper sources of funding which will not add to the public debt especially in a form of interest payments on loans.

Source: B&FT

 

 

 

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evans@ghanatoday.com (kwame) Business Wed, 08 Feb 2017 15:12:04 +0000