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AfDB seeks board approval to raise $33bn from capital market

Dr. Akinwumi Adesina

The African Development Bank (AfDB) is seeking to increase resources for member countries for more productive projects on the African continent to improve livelihoods.

To this end, President of the AfDB Group, Dr. Akinwumi Adesina, is seeking approval from the board and partners of the bank to raise some $33 billion in order to support more initiatives of member countries.

Dr. Adesina was addressing Board members, Governors, and stakeholders at the opening ceremony of the bank’s General Meetings in Accra.

He called on the African Development Fund (ADF), donor countries to increase its support so that the group can take up more investment projects. The African Development Fund (ADF) is the concessional financing window of the Bank Group that provides low income Regional Member Countries (RMCs) with concessional loans and grants, guarantees as well as technical assistance for studies and capacity building in support of projects and programs that spur poverty 

“I wish to express my great appreciation to each African Development Fund donor country. You have stayed with the Fund, you have supported the Fund, and your countries have been partners in the journey of hope of the countries that are supported by the African Development Fund,” Dr. Adesina said.

“To give greater hope, to cope with increasing challenges, the African Development Fund countries need greater resources”, he added.

He explained that one way to achieve this is to allow the African Development Fund to use its accumulated equity of $25 billion to leverage $33 billion from the capital market.

“The Fund will provide greater leverage for donor contributions: a great value for money for taxpayers from donor countries. The Fund will be more sustainable, as it will generate more income. The Fund will reduce debt of countries, as it will deliver much lower concessional lending rates compared to very high interest rates the countries get on the global capital markets. Then together, we will build more equitable growth and development from the middle-income countries to the low-income countries and fragile states”, he stressed.

Dr. Adesina assured that no country on the continent will be left out of the development agenda of the AfDB.

As part of the Annual Meetings of the bank, an Economic Outlook Report for African Countries is expected to be launched today, May 25th, 2022.

News

Nigeria is a complex country, but not difficult to manage – Obasanjo

 

Former President Olusegun Obasanjo says Nigeria shouldn’t be seen as a difficult country.

 

He said this on Monday while speaking with journalists after a meeting with three governors elected on the platform of the Peoples Democratic Party (PDP) – Nyesom Wike of Rivers, Seyi Makinde of Oyo, and Samuel Ortom of Benue.

 

Obasanjo said Nigeria’s challenges require joint efforts, adding that whoever desires to rule the country has to be someone of courage.

 

“I had ceased to be a partisan politician, I don’t belong to any political party, but if politics is about the welfare of the people, I cannot cease to be a politician, because I must always seek the welfare of the people,” he said.

 

“And, of course, you all know what the situation of Nigeria is and anybody who doesn’t know that is either not a Nigerian or is not being truthful to himself or herself. As I often said, no one individual can say ‘yes I can do it’, because the situation in Nigeria today, we need all hands, all Nigerian hands on deck to restore Nigeria and that is what Governor Wike is saying to me.

 

“Courage, he doesn’t lack it, and if you have courage and you have conviction to speak your mind, well, we have a saying in this part of the world that ‘a person, who speaks the truth all the time may not even get a mat spread for him’, because you will incur the displeasure of people.

 

“Of course, we cannot get unity if there is no justice, if there is no fairness, if there is no equity. And when you have the basic ingredients that will bring unity and inclusiveness, then, all other things will take their position. You will remove conflict, you will be able to deal with this pernicious issue of insecurity and of course, the issue of economy and the wholesomeness of the society.

 

 “The issues he raised are the issues that are dear to my own heart for unity and stability of Nigeria. There is one thing that I believe in and I have always said it over and over again; Nigeria is a complex country, but Nigeria is not a difficult country. If we are sincere and fair to ourselves, it is not a difficult country to manage and I wish him well.”

 

On his part, Wike said the visit was to consult with the former president.

 

“We have come to consult our leader — to consult somebody who has presided over the affairs of this country, not just as a president, but also as a former military head of state,” he said.

 

“The kind of experience he had and the passion he has for this country, coupled with his continuous preaching on unity and peace, is something to be emulated.

 

 “This country requires somebody who has the courage; somebody who can take a firm decision and somebody who wants to unite Nigerians and that is what we think that we should do.”

 

Wike added that if elected as the president of Nigeria in 2023, he would unite Nigerians and also take the issue of security seriously.

News

Techno Genesis Ghana graduates first batch of trainees under BiG entrepreneurship project

The first batch of young individuals who signed onto the Believe in Ghana (BiG) project in Kumasi have graduated to venture into the creative arts and manufacturing industries.

The Believe in Ghana (BiG) project trains young aspiring entrepreneurs to take charge in the creative arts and manufacturing sectors.

Trainees are engaged in bakery and pastries, soap and bleach making, batik and tie and dye as well as beads making.

Project originator, Tony Donkor, says the employment rate of the youth in Ghana needs to be addressed through such innovations.

“The project intends to raise a generation of knowledgeable youth who can take up the manufacturing space in order to secure a brighter future for the Ghanaian youth.

“The project intends to equip illiterate, semi-literate and literate persons with the skills set to secure a better future in the absence of a salaried job” he said.

The BiG project has seen partnership with the Centre for National Culture in Kumasi who created the avenue for individuals to be trained through localized methods.

Deputy Director for Performing Arts at the Centre, Mustapha Issa, says locally-manufactured items need the necessary patronage to promote local industrialization and national culture.

According to him, “people often portray cultural products as fetish and they do not want to patronize it, but if we can reorient the definition of culture to ourselves, people can then appreciate it.”

He added that, “accepting the cultural values our products stand will bring great benefit from.”

Mr. Issa also advised that the country takes its cultural values seriously in order to preserve the rich heritage as a people.

He indicated that, “our music, movies and arts should represent our heritage, rather than degrading it.”

The first cohort of 15 trainees under the project shared their experiences on the impact.

“I work in a travel agency and we usually host events where attires are worn. I signed up to the project so I can learn how to make apparels to get the contract for myself and make some money as well,” said Doreen.

Another participant, Sumaila said “I am a musician and I wanted to add a clothing line to it, so I enrolled to learn how to make batik Tie and Dye. I can use the technique to create my own brand in addition to the music I do”.

The BiG project intends to train over 10,000 persons in the Ashanti Region and further extend to other regions of the country.

The Believe in Ghana Project is under the operation of Techno Genesis, in partnership with The Multimedia Group, Kumasi and the Centre for National Culture, Kumasi.

Entertainment News

Osinbajo not man of God – Actor, Afolayan

 

Nollywood actor Aremu Afolayan has called out Vice President Yemi Osinbajo, describing him as a pretender and not a man of God.

 

Afolayan called out Osinbajo after he changed 6500 Dirham in Dubai for N1 million, decrying the state of the nation.

 

According to him, he thought Osinbajo would effect a change and bring peace and fortune to Nigerians in his time but he failed.

 

In a video on his Instagram page, Afolayan said: “I wish everyone can move out of Nigeria let’s see who you evil serpent will govern over. Nigeria is sincerely so dead because the economy of the country is not good, it’s a burial ground.

 

“Osinbajo I thought you’re a person of God, I thought you know God, I thought you fight for humanity?

 

“But now you’re faceless to me. I thought your time will bring peace and fortune to my people. If una call Yemi Pastor again I fit comot ya front teeth o.

 

“Please stop going to church, it’s not worth it.”

News

Banks register ¢2.9 billion in 4-months of 2022

Banks in the country registered ¢52.9 billion in the first four months of 2022, signaling a healthy industry, the Bank of Ghana has revealed.

This represented a 26.3 % growth, compared with 39.6% growth for the same period of last year.

The banks’ earnings were influenced by growth in net interest income and net fees and commissions. However, the growth margins went down, comparatively to last year.

Net interest income grew by 12.2% to ¢4.6 billion, compared to 18.4% growth a year ago. Net fees and commissions grew by 17.7% to ¢1.1 billion, compared with 26.5% growth last year, due to decline in trade finance-related activities in the economy.

Other income increased to ¢1.0 billion, representing 117.5% growth, relative to the contraction by 7.9% last year.

Banking sector assets remain strong

Also, developments in the banking sector also indicated strong performance, despite the reversal of the COVID-19 regulatory relief measures in March.

Total assets rose to ¢194.3 billion at the end of April 2022, about 24.8% annual growth, relative to 16.4% growth in the previous year.

The growth was underscored by increased deposits and borrowings.

Total deposits grew by 21.3% to ¢127.2 billion, while borrowings recorded a strong growth of 66.2% to ¢25.9 billion at the end of April 2022.

Financial Soundness Indicators robust

According to the Bank of Ghana, the key Financial Soundness Indicators also remained strong, with the Capital Adequacy Ratio at 21.3%, well above the regulatory minimum of 13.0%.

Importantly, Non-Performing Loan ratio eased to 14.3%, compared with 15.5% the previous year.

These developments resulted in a 22.1% jump in operating income to ¢6.7 billion, compared with 16.8% growth in the corresponding period of 2021.

Operating expenses recorded 23.0% growth compared to 1.7 % growth in the previous year.

Credit to private sector shows considerable improvement

The Bank of Ghana said credit to the private sector showed considerable improvement, almost back to pre-pandemic levels and broadly in line with the uptrend in economic activities.

In nominal terms, private sector credit recorded a significant annual growth of 26.5% in April 2022, compared with 6.9% in April 2021.

In real terms, however, private sector credit grew by 2.3%, due to sustained price pressures, relative to a contraction of 1.5% recorded for the same comparative period.

In terms of new advances, the data shows that credit growth continued to improve, reaching ¢16.4 billion, representing a 56.5 percent year-on-year growth.

Meanwhile, the latest credit conditions survey revealed that banks are however beginning to tighten credit stance on loans to enterprises and households. Despite the tightening of credit conditions, demand for credit by households and firms continue to remain strong.

News Politics

Vote for me as president and i will explore oil in Borno – Tinubu

 

The National Leader and presidential aspirant of the All Progressives Congress (APC ) in the upcoming presidential primary election, Senator Bola Ahmed Tinubu has assured the people of Borno that if he is elected as the next President of Nigeria come 2023, he will exploit all the state’s natural endowment, especially oil exploration and resuscitation of the Lake Chad Basin irrigation farming and fishing, which are the major occupations of the majority of the people of the state.

Tinubu also pledged to ensure that peace returns permanently to the state by tackling insecurity and all other crimes bedeveling the state and region for a decade.

He made the pledge on Monday, while addressing APC national delegates from Borno who have assembled at the Multi Purpose Hall of the Government House in Maiduguri.

The presidential aspirant reaffirmed his commitment to overhaul major sectors of the country towards stabilising the economy, creating job opportunities and revitalising major ailing industries in addition to improving the roads, aviation and railway lines facilities among others.

According to him, “health is wealth and education is key to development. Therefore, if elected as president, my government will address schools and hospitals problems as well empower women and youths to become self reliant and useful to themselves.”

In his remarks, Governor Babagana  Umara Zulum of Borno State wished him success in his political ambition and prayed God to give Nigeria a credible and capable leader that has the heart of Nigerians and to take the country to greater heights.

He further asserted that Nigeria deserved a patriotic and honest leader that is transparent and responsible, who will eradicate corruption in the country which has beclouded the nation’s economy in barely all sectors of the country.

The National Coordinator /DG, Asiwaju 2023 Presidential Campaign, Senator Kashim Shettima, described Bola Ahmed Tinubu as the most suitable and qualified candidate to rule the country among all the aspirants, having sacrificed a lot and contributed immensely to the survival and stability of the party right from the cradle to its infancy and maturity stages obediently.

He said Tinubu has the determination and commitment to serve Nigerians diligently and remove the county from the shackles of insecurity and under development.

News Politics

When I’m president, we will bomb terrorrists everyday – Amaechi

 Former Minister of Transportation and 2023 presidential aspirant under the All Progressives Congress (APC), Rt. Hon. Chibuike Rotimi Amaechi has said that if he becomes president, he will ensure that terrorists and their hideouts are bombarded daily until they disappear into thin air.

Amaechi recalled how he tamed under six months the menace of militants and other criminal elements in the State when he was elected governor of Rivers State.

The former transport minister made the remark in Katsina on Monday, while canvassing for the support of delegates ahead of the forthcoming primaries to elect the APC flag-bearer for the office of the President come 2023.

Amechi said: “If you know Rivers State before I became the Governor, you will know there were serious cases of kidnappings and killings in the State that made oil companies move away, but in 6 months, I restored security.

“General Buratai (former Chief of Army Staff) was then a Brigade Commander, for six months I did not sleep. So I said, they too will not sleep. Until they left Rivers people to sleep, then me too, I started sleeping.

“That’s why anywhere I go for consultations with delegates, I go with Gen. Buratai and former Inspector General of Police, Abba Suleiman, who was the Commissioner of Police in Rivers State at the time and the former Chief of Air Staff, Sadique Abubakar who was Air Force commander in Rivers then. We were bombing them everyday until they ran away.”

On revamping the Nigeria economy, the former transport minister said “there is need to move back to agriculture and move from agriculture to industrialization and manufacturing.”

In response, Governor Aminu Bello Masari of Katsina State described Amaechi as a very hardworking and courageous person, noting that the former transport minister need not blow his trumpet but should allow them blow it for him.

Masari then went ahead to pinpoint the challenges bedeviling the State, primarily the issue of insecurity and the urgent need to rehabilitate displaced people as a result of banditry, calling on aspirants to have that at the back of their mind whenever they come to the State to seek support of its people.

News Politics

Sir John’s ‘Michael Owusu’ wanted by social media users

Some Ghanaians on social media are earnestly looking for a certain ‘Michael Owusu’.

This is because his name has popped up in a document, purported to be the will of the late CEO of the Forestry Commission, Kwadwo Owusu Afriyie; popularly, known as ‘Sir John’.

An excerpt of the document, which first came into the public domain on Sunday evening, contained details of how the former Forestry Commission boss, allocated his properties.

As a sequel to that excerpt, the Fourth Estate’s Manasseh Azure Awuni, on Monday morning published the full details of the will, which incensed many social media users to join discussions about the will.

In a series of commentaries on Facebook, Twitter and WhatsApp, scores of Ghanaians wondered about the source of Sir John’s wealth.

Amidst the raging discussions on Sir John’s will, Michael Owusu’s name featured prominently, as he received the lion’s share of the assets of the late NPP stalwart.

They, therefore, queried about his identity and whereabouts, with some asking to meet him for a share of his enviable inheritance.

Sir John also gave parcels of his lands in the Achimota Forest Reserve and other valuable assets to some of his relatives, as well as his biological children.

Here are some of the comments on Michael Owusu, as expressed by some users on Twitter.

Meanwhile, MP for Ningo Prampram, Sam George, has opined that the acquisition of environmental assets, by private individuals is ‘criminal’ and ‘reprehensible”.

Citing the case of the Achimota Forest in a Facebook post on Monday, the NDC lawmaker, indicated that there is the need for the country to protect its ecological reserve, instead of leaving it for private hands.

Sir John's 'Michael Owusu' wanted by social media users
MP for Ningo Prampram, Sam George

“We need to take the issues of our ecological economy very seriously. Any attempt to put an environmental asset like the Achimota forest in the hands of private persons irrespective of political affiliation is criminal and reprehensible”, the post revealed.

News

Stanford Seed Transformation Network launches updated business directory to support economic growth

The Stanford Seed Transformation Network Ghana, has launched its updated business directory to enable individuals and businesses to access a vast catalogue of member companies spread over 16 sectors of the economy.

In her remarks about the directory during the launch, Linda Yaa Ampah, President of the Stanford Seed Transformation Network, Ghana and Founder of Cadling Fashions and KAD Manufacturing Ltd, said the directory will enable users to access member companies’ profiles and catalogue of services all in one place.

“We recognize the importance of making information readily available to members and the Ghanaian business community without any limitation. The directory allows users to access the contact details of the members of the Network,” she added.

STN Ghana will constantly update the directory with new information when new members are inducted into the Network.

As part of the Network’s community impact initiative, three students were also awarded full scholarships during the event under the Network’s scholarship fund to pursue higher education at the University of Ghana, the University of Professional Studies and the Ho Technical University.

The beneficiaries will have their school fees, accommodation fees and other related costs paid in full by the Network until they complete their studies.

Stanford Seed Transformation Network launches updated business directory to support economic growth

The scholarship scheme was launched last year to help students requiring support pursue tertiary level education. It will be expanded across other various Universities in Ghana over the coming years.

Reverend Sammy Adjepong, the Chair of the scholarship committee of the Network, was supported by Abdourahamane Diallo, UNESCO Representative to Ghana to present the scholarship to the beneficiaries. Reverened Adjepong, reaffirmed the Network’s commitment to ensuring inclusive and equitable quality education and the promotion of life-long learning opportunities in line with the UN’s Sustainable Development Goal 4.

He, therefore, urged the beneficiaries to take advantage of the opportunities presented and focus on their studies to reach their full potential.

“With this scholarship, I will have a sound mind to study Bachelor of Arts in Human Resource & Psychology at the University of Ghana to achieve my dream of becoming one of Ghana’s best Human Resource professionalsl. I feel privileged because I come from a home that wouldn’t have been able to grant me this opportunity,” Ms. Ologo stated.

“This is a great opportunity to become good and useful citizen in the future,” she added echoing the sentiments of the other awardees.

The event was used to highlight the positive impact member companies are making in their communities.

News

Outstanding businesses, corporate leaders awarded at Ghana West Africa Business Excellence Awards

Some outstanding businesses and corporate leaders have been awarded at the 2022 Ghana West Africa Business Excellence Awards.

Among the winners at this year’s event were Daniel Sackey, Managing Director of Ecobank Ghana Limited (Outstanding CEO – Banking), Emirates Airline (Outstanding airline company of the year), Bui Power Authority (Industry Leadership award in the power sector), Starlife Assurance (Outstanding Life Insurance Company) and The Little Cow Consulting Limited (Outstanding Marketing Company).

They were celebrated and applauded for making tremendous contributions to the business ecosystem in Ghana and West Africa.

Outstanding businesses, corporate leaders awarded at Ghana West Africa Business Excellence Awards

The Ghana – West Africa Business Excellence Awards provided a platform to recognise individuals and companies that create a friendly atmosphere to welcome investors and/or play a significant role in developing various sectors in Ghana and West Africa.

The awards also recognised the industry’s merits and set a benchmark for excellence, whilst rewarding innovative ideas that have pushed the boundaries of what is possible.

It recognised excellence in industries, sectors and individual/personality excellence.

Outstanding businesses, corporate leaders awarded at Ghana West Africa Business Excellence Awards

The 2022 Ghana-West Africa Business Excellence Awards was hosted by the Ghana-West Africa Business Excellence Awards and is endorsed by the West Africa Chamber of Commerce and Industry and Strategic Accountancy Africa.

Emirates, Little Cow Consulting Limited, Ghacem, Bui Power Authority were some of the institutional award winners.

Outstanding businesses, corporate leaders awarded at Ghana West Africa Business Excellence Awards

Emirates

Emirates is the world’s largest international airline helping to connect Dubai to the world and the world to Dubai.

In 2021, the airline rebuilt its global network and today operates to more than 130  destinations on over 140 Boeing 777s and more than 60 A380s.

Little Consulting

The Little Cow Consulting Limited is an international full-service strategy and marketing company.

With offices in Ghana and Rwanda, TLC supports indigenous African and global organisations in Africa to optimise their value creation potential with unconventional, high-quality, end-to-end solutions.

Ghacem

Ghacem was founded by the Government of Ghana in collaboration with Norcem (now Scancem) of Norway on 30th August 1967 under the guidance of the late Dr J. A Addison.

It was established with high hopes of a prosperous industrial future. Presently, it has two factories in both Tema and Takoradi.

Ghacem has paid over ¢1trillion to date in taxes to the Ghana government since its inception. Its dividend payment to the government of Ghana is also over ¢25 million

Bui Power Authority

Bui Power Authority (BPA) also commenced operations of the Bui Generating Station in 2013 following the authority’s establishment by an Act of Parliament, BPA Act 740, 2007.

Its mandate was amended by the Bui Power Authority (Amendment) Act 1046, 2020, to include key responsibilities of Ghana’s Renewable Energy Authority. BPA has since led Ghana’s Renewable Energy charge, earning itself the mantra “Renewable Energy Leaders”. BPA has so far achieved the following feat.

Ghana Union Assurance

Ghana Union Assurance started as the Insurance Division of UAC (now Unilever) during the Gold Coast days when Northern Assurance Company of Britain appointed UAC as its chief agent to offer all classes of insurance.

In 1962 it ceded its life business to the Crusader Insurance Company. It became a Ghanaian owned company in 1992 when Commercial Union Assurance Company of the United Kingdom sold its interest to existing shareholders.

News Politics

Emir of Katsina to Osinbajo: We’re behind you… I pray your presidential bid succeeds

 

Abdulmuminin Usman, Emir of Katsina, says he supports the presidential bid of Vice-President Yemi Osinbajo.

 

Usman said this when Osinbajo visited him at his palace in Katsina on Saturday.

 

The traditional ruler said the vice-president has the capacity to govern the country.

 

“Take it from me, we are behind you; we will try as much as possible; someone with experience is a better person than someone who is very new to the administration; so you are on board already,” NAN quoted him as saying.

 

 “You need some touches; the touches you need are consultations; we are the grassroots; you consult the traditional institution; you go with them.

 

“I really pray with all my heart that you succeed; that you carry on where your predecessor stopped and Allah will help you

 

“I know you are a quiet man; a pastor, you know God; you know how to go with Him; we will pray for you Insha Allah but in your mind take it; this is a work that must be done.”

 

On his part, Osinbajo said his current position and having served as acting president have given him the experience to govern Nigeria.

 

“I have put myself forward to run as President of the Federal Republic of Nigeria and to succeed by the Grace of God, our very able President, Muhammadu Buhari when on May 29, 2023, he leaves office for a new government,” he said.

 

“I put myself forward for the reason that I have served under his tutelage for the past seven years and on some occasions, I have also acted as president.

 

“During that period, the president has exposed me to all that there is to know about governing a complex and diverse country such as ours.

 

 “I want to say that I have learnt; there is considerable experience; and the key issues that concern our country today, issues of security, issues of the economy are issues that I believe we can do very well and I am in a position to do quite a lot on.”

News Politics

Emir of Katsina to Osinbajo: We’re behind you… I pray your presidential bid succeeds

 

Abdulmuminin Usman, Emir of Katsina, says he supports the presidential bid of Vice-President Yemi Osinbajo.

 

Usman said this when Osinbajo visited him at his palace in Katsina on Saturday.

 

The traditional ruler said the vice-president has the capacity to govern the country.

 

“Take it from me, we are behind you; we will try as much as possible; someone with experience is a better person than someone who is very new to the administration; so you are on board already,” NAN quoted him as saying.

 

 “You need some touches; the touches you need are consultations; we are the grassroots; you consult the traditional institution; you go with them.

 

“I really pray with all my heart that you succeed; that you carry on where your predecessor stopped and Allah will help you

 

“I know you are a quiet man; a pastor, you know God; you know how to go with Him; we will pray for you Insha Allah but in your mind take it; this is a work that must be done.”

 

On his part, Osinbajo said his current position and having served as acting president have given him the experience to govern Nigeria.

 

“I have put myself forward to run as President of the Federal Republic of Nigeria and to succeed by the Grace of God, our very able President, Muhammadu Buhari when on May 29, 2023, he leaves office for a new government,” he said.

 

“I put myself forward for the reason that I have served under his tutelage for the past seven years and on some occasions, I have also acted as president.

 

“During that period, the president has exposed me to all that there is to know about governing a complex and diverse country such as ours.

 

 “I want to say that I have learnt; there is considerable experience; and the key issues that concern our country today, issues of security, issues of the economy are issues that I believe we can do very well and I am in a position to do quite a lot on.”

News Politics

Emir of Katsina to Osinbajo: We’re behind you… I pray your presidential bid succeeds

 

Abdulmuminin Usman, Emir of Katsina, says he supports the presidential bid of Vice-President Yemi Osinbajo.

 

Usman said this when Osinbajo visited him at his palace in Katsina on Saturday.

 

The traditional ruler said the vice-president has the capacity to govern the country.

 

“Take it from me, we are behind you; we will try as much as possible; someone with experience is a better person than someone who is very new to the administration; so you are on board already,” NAN quoted him as saying.

 

 “You need some touches; the touches you need are consultations; we are the grassroots; you consult the traditional institution; you go with them.

 

“I really pray with all my heart that you succeed; that you carry on where your predecessor stopped and Allah will help you

 

“I know you are a quiet man; a pastor, you know God; you know how to go with Him; we will pray for you Insha Allah but in your mind take it; this is a work that must be done.”

 

On his part, Osinbajo said his current position and having served as acting president have given him the experience to govern Nigeria.

 

“I have put myself forward to run as President of the Federal Republic of Nigeria and to succeed by the Grace of God, our very able President, Muhammadu Buhari when on May 29, 2023, he leaves office for a new government,” he said.

 

“I put myself forward for the reason that I have served under his tutelage for the past seven years and on some occasions, I have also acted as president.

 

“During that period, the president has exposed me to all that there is to know about governing a complex and diverse country such as ours.

 

 “I want to say that I have learnt; there is considerable experience; and the key issues that concern our country today, issues of security, issues of the economy are issues that I believe we can do very well and I am in a position to do quite a lot on.”

News

Akufo-Addo cuts sod for University of Engineering And Agricultural Science at Bunso

President Akufo-Addo, on Friday, cut a sod for the commencement of the construction of the University of Engineering and Agricultural Sciences (UEAS), at Bunso, in the Eastern Region.

The project costing $90 million is funded by the Export-Import Bank of Korea and the Economic Development Cooperation Fund (EDCF) of the Republic of Korea and is expected to be completed in two years.

Upon completion, UEAS will be the second public University in the Eastern Region, with the first being the University of Environment and Sustainable Development at Somanya.

Speaking at a durbar of chiefs and people before the groundbreaking ceremony at Bunso, Nana Akufo-Addo, thanked the Korean Government for its support of the development of the country and assured them of Ghana’s determination to deepen and expand the bonds of friendship between the two countries.                                                   

Akufo-Addo cuts sod for University of Engineering And Agricultural Science at Bunso

The President said the current state of affairs in the world hinges largely on science and technology towards the management and conservation of natural resources in the form of energy, industry, agriculture, medicine and health, clean air and water, transportation and sanitation etc.                 

“So, it is obvious that to be a part of this modern world, there must be science and technology elements at all levels of the development process. This means that a country’s development depends on its ability to understand, adapt, produce and commercialise scientific and technological knowledge in ways appropriate to its culture, aspirations and level of development,” he added.                                                                   

He explained that that will help shape the fulfilment of the national dream, which was to meet basic challenges of survival like providing food, shelter, clothing, health and security for the people, and creating the wealth that would guarantee the prosperity of the present and future generations.

“The establishment of this University is also part of the Government’s response to the current national preoccupation with food security. The University will provide leadership in teaching, research and public outreach across several fields, and will help address problems that affect our food security, and enhance future competitiveness of Ghana’s industries in a sustainable manner,” he said.

The President recounted the introduction and implementation of various programmes and initiatives during the past five years all geared toward increasing access to Science, Technology, Engineering and Mathematics (STEM) education with the goal being to ensure a target of a 60:40 science-humanities ratio, and also educate a critical mass of the Ghanaian population for science-related jobs, which will define their future employability.

He announced that the nation’s Gross Tertiary Enrolment Ratio (GTER) which was 18.8 per cent as of 2021 had increased significantly to 20 per cent this year and he pledged to work very hard to ensure that the nation made many gains in that direction.

TVET record

Nana Akufo-Addo said “I am, thus, happy to note that this year’s enrolment of TVET students in Senior High Schools has reached record levels – forty-four thousand (44,000) students, representing a one hundred per cent increase over the 2021 enrolment figure.

The Korean Ambassador to Ghana, Lim Jung-Taek, lauded the President for the effort he was making toward the transformation of the nation’s economy through education.

He pledged to continue supporting the development of the country to improve the standard of living of the people through improvement in infrastructure development in the country.

The Okyenhene, Osagyefo Amoatia Ofori Panin, thanked the government for the project which would go a long way to bring development to the people in the area and the rest of the country.

Background

The President during the presentation of the State of the Nation address in Parliament on 30th March 2022, hinted at plans and steps being taken to turn the Bunso campus of the University of Environment and Sustainable Development into a fully-fledged independent University dedicated to the study of Engineering.

It was based on the promise made to the nation that he proceeded to cut the sod for the commencement of work for the new university expected to be completed within 24-months.

News

Akufo-Addo cuts sod for University of Engineering And Agricultural Science at Bunso

President Akufo-Addo, on Friday, cut a sod for the commencement of the construction of the University of Engineering and Agricultural Sciences (UEAS), at Bunso, in the Eastern Region.

The project costing $90 million is funded by the Export-Import Bank of Korea and the Economic Development Cooperation Fund (EDCF) of the Republic of Korea and is expected to be completed in two years.

Upon completion, UEAS will be the second public University in the Eastern Region, with the first being the University of Environment and Sustainable Development at Somanya.

Speaking at a durbar of chiefs and people before the groundbreaking ceremony at Bunso, Nana Akufo-Addo, thanked the Korean Government for its support of the development of the country and assured them of Ghana’s determination to deepen and expand the bonds of friendship between the two countries.                                                   

Akufo-Addo cuts sod for University of Engineering And Agricultural Science at Bunso

The President said the current state of affairs in the world hinges largely on science and technology towards the management and conservation of natural resources in the form of energy, industry, agriculture, medicine and health, clean air and water, transportation and sanitation etc.                 

“So, it is obvious that to be a part of this modern world, there must be science and technology elements at all levels of the development process. This means that a country’s development depends on its ability to understand, adapt, produce and commercialise scientific and technological knowledge in ways appropriate to its culture, aspirations and level of development,” he added.                                                                   

He explained that that will help shape the fulfilment of the national dream, which was to meet basic challenges of survival like providing food, shelter, clothing, health and security for the people, and creating the wealth that would guarantee the prosperity of the present and future generations.

“The establishment of this University is also part of the Government’s response to the current national preoccupation with food security. The University will provide leadership in teaching, research and public outreach across several fields, and will help address problems that affect our food security, and enhance future competitiveness of Ghana’s industries in a sustainable manner,” he said.

The President recounted the introduction and implementation of various programmes and initiatives during the past five years all geared toward increasing access to Science, Technology, Engineering and Mathematics (STEM) education with the goal being to ensure a target of a 60:40 science-humanities ratio, and also educate a critical mass of the Ghanaian population for science-related jobs, which will define their future employability.

He announced that the nation’s Gross Tertiary Enrolment Ratio (GTER) which was 18.8 per cent as of 2021 had increased significantly to 20 per cent this year and he pledged to work very hard to ensure that the nation made many gains in that direction.

TVET record

Nana Akufo-Addo said “I am, thus, happy to note that this year’s enrolment of TVET students in Senior High Schools has reached record levels – forty-four thousand (44,000) students, representing a one hundred per cent increase over the 2021 enrolment figure.

The Korean Ambassador to Ghana, Lim Jung-Taek, lauded the President for the effort he was making toward the transformation of the nation’s economy through education.

He pledged to continue supporting the development of the country to improve the standard of living of the people through improvement in infrastructure development in the country.

The Okyenhene, Osagyefo Amoatia Ofori Panin, thanked the government for the project which would go a long way to bring development to the people in the area and the rest of the country.

Background

The President during the presentation of the State of the Nation address in Parliament on 30th March 2022, hinted at plans and steps being taken to turn the Bunso campus of the University of Environment and Sustainable Development into a fully-fledged independent University dedicated to the study of Engineering.

It was based on the promise made to the nation that he proceeded to cut the sod for the commencement of work for the new university expected to be completed within 24-months.

News

Promote dialogue and synergies for trade transformation – GEPA

Countries within the West African Region have been entreated to promote dialogue and synergies among each other to ensure trade transformation.

According to the Chief Executive Officer for the Ghana Export Promotion Authority (GEPA), Dr. Afua Asabea Asare, this will aid in increasing access to regional and international markets and create better linkages among selected value chain actors.

Speaking at the second Annual General Meeting of the Economic Community of West African States’ (ECOWAS) Trade Promotion Organisation Network she urged countries within the region to play a pivotal roles to benefit from the African Continental Free Trade Area.

Dr. Asabea Asare further urged member-states to work collectively to achieve such feat and promote trade within the sub region.

“We think that with the existing blocs like ECOWAS, if we are to make a little effort to make trading easy in our small corner it will be very easy for us. We need to work together and strengthen our trading activities to take advantage of the African Continental Free Trade Area” She said.

President for the Trade Promotion Organization Network, Dr. Ezra Yakusak, said in the quest for the region to take advantage of the African Continental Free Trade Area, the organisation will embark on sensitisation programmes for trades and other exporters within the region.

“We are going to achieve this by a sensitisation programme and organise other advocacy programmes and capacity building programmes for both exporters and other associations. The AfCFTA is set up for Africans and there is the need for us to take it seriously“, he said.

The Trade Promotion Organisations Network is set to improve the regional value chain and transform economies in West Africa through trade activities.

The ECOWAS Trade Promotion Organisation (TPO) Network is a public-sector led entity and will work in partnership with the ECOWAS commission to drive inclusive trade development initiatives within West Africa and beyond.

News

ActionAid Ghana appoints John Nkaw as Country Director  

ActionAid Ghana has appointed John Nkaw as Country Director effective 1st May, 2022.

Until his recent appointment as Country Director, John Nkaw served as Head of Programmes, Campaigns and Innovation and Interim Country Director.

He succeeds Sumaila Abdul-Rahman who resigned from office in August, 2021. In his new role, John Nkaw will lead the work of ActionAid Ghana by coordinating the work and strengthening its partnerships to ensure greater positive impact of programme interventions on the lives and livelihoods of people living in poverty.

He joined ActionAid Ghana in March 2019 as the Head of Programmes and served as Interim Country Director from September 2021 to April 2022.

As Interim Country Director, Mr. Nkaw was responsible for overseeing the overall management of the organisation from the operational and strategic perspectives.

He coordinated programme planning, implementation, review/monitoring and evaluation exercises.

Mr. Nkaw ensured that programme interventions are relevant to the aspirations of the poor for maximum positive impact on their lives and livelihoods. Mr. Nkaw was selected through a rigorous and highly competitive process.

“We expect him to deliver and have no doubt that he will with the support of staff, partners and all other stakeholders”, a statement from the civil society organisation stated.

Prior to joining ActionAid Ghana, John had worked with Oxfam Ghana, SEND Foundation of West Africa (Now SEND Ghana), USAID Partnership for Education: Evaluating Systems, and the Ghana Aid Effectiveness Forum (AEF).

Mr. Nkaw holds a Bachelor of Arts in Sociology with Political Science, Master of Arts in Development Studies from the University of Ghana, and Master of Public Administration in Public Policy from University of Texas at Austin.

 ActionAid Ghana (AAG) is an affiliate of ActionAid, a global justice Federation working to achieve social justice, gender equality and poverty eradication.

News

Philip Kyeremanteng: Why Achimota Forest must be reserved

The 495 ha Achimota Forest Reserve, created in 1930 for research, recreational and environmental conservation purposes, has over the years lost more than 150 ha because of urban infrastructure development and illegal encroachment.

Its ecological and biodiversity integrity are further threatened with indiscriminate waste dumping and, recently, dumping of dead bodies, sometimes prompting the Ghanaian public to express concern about this unfortunate situation.  

It covers a strategic location in such a popular urban area.  Achimota Forest Reserve is located in the region of Greater Accra. The distance from Achimota Forest Reserve to Ghana’s capital Accra (Accra) is approximately 7.6 km / 4.7 mi (as the crow flies).

The land trees and plants that cover part of Achimota landmark surface symbolised by the colour green in the common definition of environmentalism. They are fundamental life forms and provide for the continuity of the city of Accra’s biodiversity which is necessary for the local economic development, diversity of life forms, human livelihood, and environmental adaptive responses.

Looking at the strategic location of the Achimota forest, it provides so many environmental sustainability benefits that cannot be overemphasised. Being close to a major urban road that is used by numerous vehicles per day, it mitigates most of the environmental pollutants from emissions from these vehicles that can cause significant respiratory problems and other health issues.

Deforestation of the Achimota Forest will leave the city at the mercy of significant flooding and other environmental issues as experienced in the past after heavy rainfalls.

Though urban dwellers often live far from the borders of deforestation, the impacts of deforestation still reach them. Forest loss and degradation contribute more than 8% of global greenhouse gas emissions, leaving cities with rising sea levels, extreme heat events and more powerful storms.

For example, Freetown, Sierra Leone — one of the rainiest cities in the world — has suffered devastating landslides after heavy rains, the most severe of which in 2017 claimed nearly 1,000 lives. This happened partly because steeply sloping land became unstable from the loss of trees, which provided sheltering canopy and a strong root system.

June 2018 flood that hit Accra- The disaster was one of the worst to have happened in Accra in recent times.  For close to seven hours, people and vehicles were left stranded at various parts of the city as traffic came to a standstill due to the torrential rains. Several vehicles were submerged in the most ferocious flooding, leaving in its trail the monumental devastation.

The Achimota Forest must be preserved and protected for the following reasons

  1. Purifies the Air

Achimota Forest plays an important role in the purification of the atmospheric air. During the day, trees and plants absorb carbon dioxide for photosynthesis and give out oxygen. As such, they help in the purification of the air that Achimota city dwellers breathe.

Forests thus serve as an instrumental tool for reducing the amount of carbon dioxide and other greenhouse gases in the environment which are responsible for global warming.

  1. Stabilise Climate

Forests serve as climate stabilisers since trees and plants regulate atmospheric temperatures through evapotranspiration and providing environmental breeze. In urban settings like Achimota, for instance, the presence of trees can reduce the dependence of air conditioners. Large forests regulate regional temperatures by absorbing the sun’s radiant heat and promote rainfall as well as cool climate as an effect of evapotranspiration.

  1. Economic Significance

Forests are of vast economic benefits to us. For instance, plantation forests provide humans with wood and timber, which is used in construction and as raw materials for numerous products. Also, whenever tourists visit the forest areas to view the beautiful sceneries alongside the wildlife forms inhabiting the forests, the hosting nations and communities get revenue from tourism. Forests are also a source to rare animals like wild rabbits, and foods or vegetables such as berries, tubers, and edible mushrooms that grow on the forest floors.

  1. Regulates the Water Cycle

Forests also regulate the natural cycle of water evaporation and subsequent condensation and precipitation as rain. Forests make this possible by absorbing and redistributing rainwater equally across the entire geographical coverage, which is mostly termed as water economy. Forests also absorb considerable amounts of water from runoff and pass it down into the aquifers, replenishing groundwater supplies.

  1. Medicinal Value

Forests are highly linked to medicinal research and pharmaceutical breakthroughs due to their extensive plant life and animal life forms. A large percentage of the drugs used for diverse medical treatments are extracted from the plants and animals that live in the forests. Forests are comprised of numerous and incredible cures including the drugs used to relieve the effects of cancers.

  1. Enrich the Soil

Plants and trees help to recycle the soil nutrients through the shedding of leaves and small branches. The plant and tree roots also break the soils in finer particles and encourage water infiltration into the soil. The roots also absorb some water from surface runoff and reduce the speed of flow, minimising soil erosion which normally degrades the fertility of the soil.

  1. Flood management

Trees and woodlands within urban areas like the Achimota Forest Reserve can help reduce flooding and improve water quality, by intercepting rain, allowing infiltration into the ground, reducing the volume and speed of runoff to drains and watercourses, drawing water up from the ground for transpiration, removing pollutants and decreasing sedimentation. Their water management role can be further enhanced by planting trees as part of biofiltration systems and in engineered tree pits, which can include structural cells, soils and reservoirs designed to filter and store water.

The use of trees and woodlands for urban water management can help to reduce the pressure on and complement more traditional engineered approaches. And unlike the more engineered approaches, trees and woodlands also bring a wide range of economic, social, and environmental benefits, making urban areas much more attractive and healthy places to live, work, visit and invest in.

Many cities, recognising the connection between forests and water, are acting to support and conserve forests. Leaders around the world are working to plan and develop urban green infrastructure, invest in protecting watershed forests and source more forest-friendly commodities. Forests protect water for cities, and it is essential that Ghana government step up to protect The Achimota Forest in return rather than selling it out.

News

Philip Kyeremanteng: Why Achimota Forest must be reserved

The 495 ha Achimota Forest Reserve, created in 1930 for research, recreational and environmental conservation purposes, has over the years lost more than 150 ha because of urban infrastructure development and illegal encroachment.

Its ecological and biodiversity integrity are further threatened with indiscriminate waste dumping and, recently, dumping of dead bodies, sometimes prompting the Ghanaian public to express concern about this unfortunate situation.  

It covers a strategic location in such a popular urban area.  Achimota Forest Reserve is located in the region of Greater Accra. The distance from Achimota Forest Reserve to Ghana’s capital Accra (Accra) is approximately 7.6 km / 4.7 mi (as the crow flies).

The land trees and plants that cover part of Achimota landmark surface symbolised by the colour green in the common definition of environmentalism. They are fundamental life forms and provide for the continuity of the city of Accra’s biodiversity which is necessary for the local economic development, diversity of life forms, human livelihood, and environmental adaptive responses.

Looking at the strategic location of the Achimota forest, it provides so many environmental sustainability benefits that cannot be overemphasised. Being close to a major urban road that is used by numerous vehicles per day, it mitigates most of the environmental pollutants from emissions from these vehicles that can cause significant respiratory problems and other health issues.

Deforestation of the Achimota Forest will leave the city at the mercy of significant flooding and other environmental issues as experienced in the past after heavy rainfalls.

Though urban dwellers often live far from the borders of deforestation, the impacts of deforestation still reach them. Forest loss and degradation contribute more than 8% of global greenhouse gas emissions, leaving cities with rising sea levels, extreme heat events and more powerful storms.

For example, Freetown, Sierra Leone — one of the rainiest cities in the world — has suffered devastating landslides after heavy rains, the most severe of which in 2017 claimed nearly 1,000 lives. This happened partly because steeply sloping land became unstable from the loss of trees, which provided sheltering canopy and a strong root system.

June 2018 flood that hit Accra- The disaster was one of the worst to have happened in Accra in recent times.  For close to seven hours, people and vehicles were left stranded at various parts of the city as traffic came to a standstill due to the torrential rains. Several vehicles were submerged in the most ferocious flooding, leaving in its trail the monumental devastation.

The Achimota Forest must be preserved and protected for the following reasons

  1. Purifies the Air

Achimota Forest plays an important role in the purification of the atmospheric air. During the day, trees and plants absorb carbon dioxide for photosynthesis and give out oxygen. As such, they help in the purification of the air that Achimota city dwellers breathe.

Forests thus serve as an instrumental tool for reducing the amount of carbon dioxide and other greenhouse gases in the environment which are responsible for global warming.

  1. Stabilise Climate

Forests serve as climate stabilisers since trees and plants regulate atmospheric temperatures through evapotranspiration and providing environmental breeze. In urban settings like Achimota, for instance, the presence of trees can reduce the dependence of air conditioners. Large forests regulate regional temperatures by absorbing the sun’s radiant heat and promote rainfall as well as cool climate as an effect of evapotranspiration.

  1. Economic Significance

Forests are of vast economic benefits to us. For instance, plantation forests provide humans with wood and timber, which is used in construction and as raw materials for numerous products. Also, whenever tourists visit the forest areas to view the beautiful sceneries alongside the wildlife forms inhabiting the forests, the hosting nations and communities get revenue from tourism. Forests are also a source to rare animals like wild rabbits, and foods or vegetables such as berries, tubers, and edible mushrooms that grow on the forest floors.

  1. Regulates the Water Cycle

Forests also regulate the natural cycle of water evaporation and subsequent condensation and precipitation as rain. Forests make this possible by absorbing and redistributing rainwater equally across the entire geographical coverage, which is mostly termed as water economy. Forests also absorb considerable amounts of water from runoff and pass it down into the aquifers, replenishing groundwater supplies.

  1. Medicinal Value

Forests are highly linked to medicinal research and pharmaceutical breakthroughs due to their extensive plant life and animal life forms. A large percentage of the drugs used for diverse medical treatments are extracted from the plants and animals that live in the forests. Forests are comprised of numerous and incredible cures including the drugs used to relieve the effects of cancers.

  1. Enrich the Soil

Plants and trees help to recycle the soil nutrients through the shedding of leaves and small branches. The plant and tree roots also break the soils in finer particles and encourage water infiltration into the soil. The roots also absorb some water from surface runoff and reduce the speed of flow, minimising soil erosion which normally degrades the fertility of the soil.

  1. Flood management

Trees and woodlands within urban areas like the Achimota Forest Reserve can help reduce flooding and improve water quality, by intercepting rain, allowing infiltration into the ground, reducing the volume and speed of runoff to drains and watercourses, drawing water up from the ground for transpiration, removing pollutants and decreasing sedimentation. Their water management role can be further enhanced by planting trees as part of biofiltration systems and in engineered tree pits, which can include structural cells, soils and reservoirs designed to filter and store water.

The use of trees and woodlands for urban water management can help to reduce the pressure on and complement more traditional engineered approaches. And unlike the more engineered approaches, trees and woodlands also bring a wide range of economic, social, and environmental benefits, making urban areas much more attractive and healthy places to live, work, visit and invest in.

Many cities, recognising the connection between forests and water, are acting to support and conserve forests. Leaders around the world are working to plan and develop urban green infrastructure, invest in protecting watershed forests and source more forest-friendly commodities. Forests protect water for cities, and it is essential that Ghana government step up to protect The Achimota Forest in return rather than selling it out.