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Ghana's financial sector: it is all tumbling again, isn't it? - Marricke K. Gane

Ghana News

He identified proceedings at MenzGold, and the second tier of our financial sector, Savings and Loans, as troubling and needing to be dealt with decisively.

A chartered accountant and a development consultant, Marricke Kofi Gane, has charged regulatory authorities in the financial industry to rein in operators in the sector to forestall worsening the already dire straits the sector finds itself.

6.8million Ghanaians are poor — GSS Survey

Ghana News

Again, 26 per cent of all poor persons in Ghana were found in the Northern Region, which has over the period contributed to poverty more than any other region.

A report on ‘Trends of Poverty and Inequality’ in Ghana has revealed that based on 2017 population projections, a total of 6.8 million people were captured as poor and, therefore, could not afford to spend GH¢4.82 per day in 2016/17 (GH¢1,760.80 per year in 2016/17).

S&P Global raises Ghana ratings to B from B-

Ghana News

t further cited the improving banking sector stability and lower inflation as factors that supported its view that the effectiveness and transmission mechanism of the country's monetary policy have improved.

Rating agency, Standards and Poor's (S&P) Global, has raised Ghana's long-term local and foreign currency sovereign credit rating to 'B' from 'B-.'
In a statement released on September 14, S&P Global said "the upgrade reflects our assessment that Ghana's monetary policy effectiveness has improved, albeit from a low base, and will support the credibility of the inflation-targeting framework over the period."

It further cited the improving banking sector stability and lower inflation as factors that supported its view that the effectiveness and transmission mechanism of the country's monetary policy have improved.

The agency also revised its transfer and convertibility (T&C) assessment to 'B+' from 'B

It cited the improving banking sector stability and lower inflation as factors that supported its view that the effectiveness and transmission mechanism of the country's monetary policy have improved, hence the decision to revise the T&C from 'B' to 'B+'

The new rating is expected to endear the economy to global investors, as it potents increased faith in its activities by the rating agency. This should translate into reduced risk in domestic investments and increased appetite for same by investors.


 Source: graphic.com.gh

“Persons Responsible For ‘Banking Crisis’ Will Face The Law” – President Akufo-Addo

Ghana News

According to President Akufo-Addo, “It is not right that the overwhelming majority of ordinary Ghanaians should pay for the actions of a greedy few, without sanction.”

The President of the Republic, Nana Addo Dankwa Akufo-Addo, has assured the Ghanaian people that “those responsible for the sequence of activities that led to the ‘banking crisis’ will face the full brunt of the law if they are found to have broken the law”.

President Akufo-Addo Commissions 20MW Solar Plant, Inspects 1D1F Project In Gomoa West

Ghana News

“When we came into office, we inherited a plethora of IPP agreements, all of whom were contracted at the time of our crisis and, therefore, left us in a weak position, ...

President a Akufo-Addo, on Saturday, 15th September, 2018, commissioned a 20-megawatt solar plant, and inspected ongoing works at the Casa de-Ropa Ltd, a “1-district-1-factory” initiative, all in the Gomoa West constituency.

Double-track will have no effect on poor quality education – Dr Adutwum

Ghana News

“I think quality should not be associated with the double track. We have a terrible school system. Terrible! And I think it has to change for the better,” he said..

The Deputy Minister of Education, Dr Yaw Osei Adutwum, has dismissed suggestions that the implementation of the double-track system will negatively affect quality of senior high school (SHS) education in the country.

Deputy Minority Leader in Parliament, James Klutse Avedzi.

Ghana News

Deputy Minority Leader in Parliament, James Klutse Avedzi, said the fall of the cedi indicates that the fundamentals of the economy are weak.

The Minority in Parliament (MP) has said that the rate of depreciation of the Ghana cedi in relation to the U.S. dollar, has exposed Vice-President Dr Mahamudu Bawumia.


Ghana News

Instead of government releasing all funds to farmers, he believes government must be deliberate and a bit more visionary in improving the agricultural value chain

An increasingly anticipated presidential hopeful, Marricke Kofi Gane, in a Facebook post has commended government for attempting to establish a dedicated GHS 500 million fund to address the challenges confronting the agricultural sector.

Cassandra Twum Apofo says parents have the responsibility to ensure that their children study while they wait for their turn in school.

Ghana News

They have been grouped into two tracks –Green and Gold- as the new double track system introduced by the government to deal with infrastructure challenges begin.

The Ghana Education Service says it will adopt innovative means to monitor the performance of students who will be home while their colleagues are in school.

Ras Mubarak objects to proposed in-camera hearing into seven collapsed banks

Ghana News

He further called on the public to tell their Members of Parliament to put public interest first. He added that the public has the right to know who did what.

The Member of Parliament for Kumbungu Constituency, Hon. Ras Mubarak, has not hidden his displeasure over the in-camera hearing into the meltdown of seven local banks, by calling for such a suggestion to be blown away.

Mining firm files Gh¢20m defamation suit against Kennedy Agyapong

Ghana News

It also wants a retraction and apology by Mr Agyapong with the same prominence as the publication of the defamatory words complained of.

The Member of Parliament for Assin Central, Kennedy Ohene Agyapong has been sued by a mining company for defamation.

Pictures: AMA undertakes routine clean-up exercise in sub-metropolitan areas

Ghana News

Some of the items dredged out of the gutters included plastic bags, cardboard boxes, rotten food items, and cans.

The Accra Metropolitan Area recently undertook a routine clean-up exercise in all six sub-metropolitan areas under its control.

German Chancellor Angela Merkel (L) chats with Ghana’s Vice President Dr. Bawumia

Ghana News

Officials of the company, who accompanied Chancellor Angela Merkel on a day’s visit to Ghana, said the leadership of the VW Group were motivated to set up a plant in Ghana due to the business-friendly policies being implemented by the Nana Akufo-Addo government.

Global automobile manufacturing giant Volkswagen has announced plans to set up an automotive assembly plant in Ghana.

“China-Ghana Relations Must Take The Lead In Africa” – President Xi Jinping To Akufo-Addo

Ghana News

President Xi Jinping also indicated that China will provide a grant of 200 million Chinese Yuan, the equivalent of $30 million, to Ghana, to assist in the effective implementation of the economic policies of President Akufo-Addo.

The President of the People’s Republic of China, His Excellency Mr. Xi Jinping, has stressed that his is prepared to work with his Ghanaian counterpart, President Nana Addo Dankwa Akufo-Addo, to ensure that relations between Ghana and China take the lead on the African continent.

CECPPA submits information request to national inspectorate board

Ghana News

‘In part 2 the CECPPA team delivered a solid proposal to write a brand-new Early Childhood Curriculum (0-5 years) for Ghana.

The Centre for Early Childhood Policy and Practice, Africa (CECPPA) has submitted a request for information to the National Inspectorate Board (NIB), Ghana.

Mr Johnson Asiedu Nketia (left), General Secretary, NDC, exchanging pleasantries with Mr Augustus Goosie Tanoh (2nd right) after declaring his intention to the party. Picture: EMMANUEL ASAMOAH ADDAI

Ghana News

The other aspirants include former President John Mahama, the Second Deputy Speaker of Parliament, Mr Alban Kingsford Sumani Bagbin; a former Trade Minister, Mr Ekwow Spio-Garbrah and a former Chief Executive Officer (CEO) of the National Health Insurance Authority (NHIA), Mr Sylvester Adinam Mensah.

A founder member of the National Democratic Congress (NDC) and presidential hopeful, Mr Augustus Goosie Tanoh has become the 11th presidential aspirant to officially inform the NDC about his intentions to contest the 2020 flagbearership slot of the party.

Director-General of the Ghana Education Service (GES), Professor Kwasi Opoku-Amankwa

Ghana News

The Ghana Education Service (GES ) is recruiting 8,872 staff in order to meet the demands of the double track educational system which takes off in September this year.

Aspiring presidential candidate, Marricke K. Gane, lashes out at government’s decision to demolish buildings for National Cathedral

Ghana News

Also caught up in the demolition exercise are the office buildings of the Scholarship Secretariat and Passport Office at Ridge.

Aspiring presidential candidate, Marricke Kofi Gane, has lashed out at the ruling NPP government’s decision to demolish several buildings at Ridge, a quasi-residential and office area in the nation’s capital, Accra, to pave the way towards the construction of a National Cathedral.

National Cathedral construction; 9 Court of Appeal judges to be relocated

Ghana News

Scores of other structures within that enclave including the Judicial Training School are also expected to be pulled down to make way for the 5,000 seater cathedral which will also include a Bible Museum and a Documentation Centre.

Nine justices of the Court of Appeal are to be relocated from their present residential accommodations at Ridge to make way for the construction of the National Cathedral.

President Akuffo Addo and Mayor Adjei Sowah storm 2018 Chalewote festival

Ghana News

The Chalewote Street Art Festival started 8 years ago and has served as a platform for creative artists in and outside Ghana to showcase their paintings, sculptures, photographs,...

President Akufo-Addo made a surprise appearance at the Chalewote Street Art Festival 2018 on Saturday as part of his commitment towards the arts and culture industry.

Marricke Kofi Gane Mulls Presidential Run

Ghana News

On his youthfulness for the position, he posited that if after 60 plus years of independence, the older generation, who have been in charge of running the country’s affairs, are yet to catapult the country to the Promised Land,...

International development expert and chartered accountant, Mr. Marricke K. Gane, says he is pondering a run for the highest and toughest job in the land.

Collapse of uniBank: State to incur GH¢4.3bn loss

Ghana News

On the cost, KPMG estimated that a liquidation of uniBank through a new bank will mean that a day-one bond issuance will likely cost “in excess of GH¢4.3 billion.

The full impact of the August 1, 2018 dissolution of the uniBank Ghana Limited on the nation is coming to the fore, after a leaked report from KPMG revealed that the method used to resolve the bank could cost the state in excess of GH¢4.3 billion.

Government to rename Ho Technical University after Ephraim Amu

Ghana News

He said the decision was taken by the HTU council and he has given his blessings to it.

President Akufo-Addo has announced government's intention to rename the Ho Technical University (HTU) in the Volta region after Ephraim Amu, the great musicologist from Peki.

Why Otabil ignored premonition not to chair Capital Bank (VIDEO)

Ghana News

“I didn’t have banking training but I’m a chairman of a bank and I was intimated the first time, I said wow!, what am I going to do, I’m going to make a mess of myself,” Pastor Otabil acknowledged.

One of the numerous past motivational messages by Pastor Mensa Otabil, where he expressed fears about going to make a mess of himself, by accepting to chair a banking board without a background in finance has gone into circulation.

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