Economics

Dismissing Energy Minister right decision – VRA union leader

President Akufo-Addo and dismissed Energy Minister Boakye Agyarko in happier times

President Akufo-Addo’s dismissal of Energy Minister Boakye Agyarko late Monday evening over the controversial renegotiated Ameri power deal, has been hailed as an inevitable decision.

Theophilus Tetteh Ahia, Vice Chairman of the Volta River Authority (VRA) Senior Staff Association, says the decision does not surprise them given that the Energy Minister failed to engage key stakeholders including the VRA in renegotiating the deal. He also spurned all good counsel to renegotiate for a value for money deal.


To read the full piece from , click here.

President relives energy Minister of position

Accra, Aug. 6, GNA - President Nana Addo Dankwa Akufo-Addo has relieved, with immediate effect, the Minister of Energy, Mr Boakye Agyarko of his position.

A statement issued in Accra on Monday by the Director of Communications at the Jubilee House, Mr Eugene Arhin, said the President has asked the Lands and Natural Resources Minister, Mr John Peter Amewu to act temporarily until a substantive appointment was made.

The statement said the President wished Mr Agyarko well in future endeavours.


To read the full piece from , click here.

President relives energy Minister of position

Boakye Agyarko

Accra, Aug. 6, GNA - President Nana Addo Dankwa Akufo-Addo has relieved, with immediate effect, the Minister of Energy, Mr Boakye Agyarko of his position.

A statement issued in Accra on Monday by the Director of Communications at the Jubilee House, Mr Eugene Arhin, said the President has asked the Lands and Natural Resources Minister, Mr John Peter Amewu to act temporarily until a substantive appointment was made.

The statement said the President wished Mr Agyarko well in future endeavours.


To read the full piece from , click here.

Execute your mandate with utmost professionalism, Akufo-Addo admonishes media

President Nana Addo Dankwa Akufo-Addo (2nd left) congratulating Mr Awini Asitanga Awinpang Dominic (right), the Overall Best Student at the 12th graduation ceremony of the Ghana Institute of Journalism (GIJ). Looking on is Dr Matthew Opoku Prempeh (left), the Minister of Education Picture : SAMUEL TEI ADANO

President Nana Addo Dankwa Akufo-Addo has urged the Ghanaian media not to consider juicy headlines and breaking news at the expense of the future and integrity of the country.

He advised the media to take a second look at the power they wielded and the responsibility they owed to society and execute their mandate with utmost professionalism while abiding by the ethics of the profession.


To read the full piece from , click here.

Ghana, Cote d’Ivoire to secure $1.2bn loan for agenda to attract youth to cocoa industry

Mr Aidoo (in smock) addressing the media in Kumasi

The governments of Ghana and Côte d'Ivoire are close to securing a $1.2 billion loan from the African Development Bank to undertake programmes and interventions that will make the cocoa industry attractive to the youth.

Six million dollars of the amount will go into the rehabilitation of the industry while the rest will be used to promote value addition to domestic processing of cocoa beans.


To read the full piece from , click here.

Suspend renegotiated AMERI, Karpower deals — Minority

Minority

The Minority in Parliament has called on the government to, as a matter of national interest, suspend the renegotiated Ameri Power and Karpower deals, saying they are riddled with scandalous content and are a rip-off.

Presenting the position of the Minority on the deals at a press conference in Accra yesterday, Mr John Jinapor, the Member of Parliament for Yapei/Kusawgu and former Deputy Power Minister, said the government should rather make the details available for broader public scrutiny before going ahead with the deals.


To read the full piece from , click here.

Consolidated Bank Ltd takes over assets of 5 collapsed banks

The Banks

The Bank of Ghana (BoG) has revoked the licences of five banks and subsequently merged them into a new bank — the Consolidated Bank Ghana Limited — to be headed by Mr Nii Amanor Dodoo of KPMG.

The entities — the uniBank, the Royal Bank, the Sovereign Bank, the Construction Bank and the BEIGE Bank — were found to have committed various regulatory and financial breaches that made them insolvent and unfit to continue operations.


To read the full piece from , click here.

Govt, banking consultant back BoG move

Dr Ernest Addison — Governor, BoG

Dr Ernest Addison — Governor, BoG

Moments after the announcement of the revocation of the licences and subsequent merger of the five local banks by the Bank of Ghana (BoG), Banking Consultant, Nana Otuo Acheampong, backs the move by the central bank, saying it will bring certainty in the ongoing recaptalisation drive.

“This is good news because this move will protect depositors’ funds and strengthen the banking sector and make it more solid,” he stated.


To read the full piece from , click here.

EOCO indicts Ernest Thompson, four others in SSNIT software scandal

Ernest Thompson and Caleb Afaglo

Four people, including the former Director General of the Social Security and National Insurance Trust (SSNIT), Mr Ernest Thompson have been indicted by the Economic and Organised Crimes Office (EOCO) for causing financial loss to the state.

The others are Mrs Juliet Hasana Krama, CEO of Perfect Business System (PBS), John Hagan Mensah, former OBS Project Manager at SSNIT and Caleb Afaglo who was General Manager of Management Information Systems (MIS) at SSNIT.


To read the full piece from , click here.