Category: News

  • Economy to grow 2.8% in 2023 – IMF predicts

    Economy to grow 2.8% in 2023 – IMF predicts

    Adnan Adams Mohammed

     

    The International Monetary Fund (IMF) has projected a 2.8% Gross Domestic Product for Ghana in 2023, as it expects the growth rate in 2024 to be better. The Fund is anticipating a rebound in the Ghanaian economy in 2024.

     

    This is due to expected improve economic activities, particularly in the extractive sector, which will boost growth. But, the sub-Saharan Africa’s growth is projected to remain moderate at 3.8% in 2023 amid prolonged fallout from the COVID-19 pandemic, although with a modest upward revision since October, before picking up to 4.1% in 2024.

     

    “On Ghana, we do expect growth to slow this year. This is partly because of the global headwinds that Pierre Olivier [Chief Economist and Director Research Department] has been discussing. So, it’s a difficult time for the global economy to affect Ghana”, Division Chief at the Research Department, Daniel Leigh, said when answering questions from the press at the just ended World Economic Forum in Davos, Switzerland.

     

    “But also, there are some domestic headwinds. In particular, inflation has increased significantly. And so, the Central Bank is tightening monetary policy, but that is cooling the economy domestically. Plus, the fiscal policies are tightening to address the elevated debt. This is the cooling in 2023”, he pointed out.

     

    “But in 2024, we see a rebound in particular in the extractive activities. And that is going to support Ghana in 2024”, he added.

     

    Mr. Leigh also spoke of the $3 billion extended credit facility that Ghana is seeking from the IMF, saying, “The goal of that program is to reestablish macroeconomic stability, debt sustainability, and create the foundations for higher and inclusive growth over the medium-term”.

     

    “I would add that right now — so just very recently — the IMF team went to Ghana, reached agreement with the Ghanaian authorities on an economic reform program that will be supported under a $3 billion extended credit facility. And the goal of that program is to reestablish macroeconomic stability, debt sustainability, and create the foundations for higher and inclusive growth over the medium-term”.

     

    The January 2023 World Economic Outlook indicates that, the small upward revision for 2023 (0.1 percentage point) reflects Nigeria’s rising growth in 2023 due to measures to address insecurity issues in the oil sector.

     

    In South Africa, by contrast, after a COVID-19 reopening rebound in 2022, the IMF projected growth more than halves in 2023, to 1.2 percent, reflecting weaker external demand, power shortages, and structural constraints.

     

    Meanwhile, global growth, estimated at 3.4% in 2022, is projected to fall to 2.9% in 2023 before rising to 3.1% in 2024.

     

    Compared with the October forecast, the estimate for 2022 and the forecast for 2023 are both higher by about 0.2 percentage point, reflecting positive surprises and greater-than-expected resilience in numerous economies.

     

    Negative growth in global Gross Domestic Product or global GDP per capita—which often happens when there is a global recession—is not expected.

     

    Nevertheless, global growth projected for 2023 and 2024 is below the historical (2000–19) annual average of 3.8%.

     

    The forecast of low growth in 2023, the report, said reflects the rise in central bank rates to fight inflation–– especially in advanced economies––as well as the war in Ukraine.

  • UKGCC commends the inauguration of the Independent Tax Appeals Board

    UKGCC commends the inauguration of the Independent Tax Appeals Board

    The UK-Ghana Chamber of Commerce (UKGCC), a member-based trade association that promotes trade between the UK and Ghana, applauds the inauguration of the Independent Tax Appeals Board (ITAB) in Ghana by Government.

     

    The Chamber hopes that this will enhance revenue mobilisation, through speedy adjudication, accuracy, and fairness in tax dispute resolution.

     

    This is welcoming news for businesses and investors in Ghana, as taxpayers will be given a chance to have a fair hearing of their cases and a determination of the proper amount of their liabilities by an independent body, before being required to pay them.  In the previous system of tax appeals, taxpayers had to resort to costly and protracted litigation at the courts to have their disputes with the Ghana Revenue Authority (GRA) resolved.

     

    “The Board, independent of the Ghana Revenue Authority, will ensure an efficient and cost-effective appeal mechanism for tax cases in Ghana, thereby providing a system of transparency, balance, and increased confidence for taxpayers”, Anthony Pile (MBE), Chairman, UKGCC Executive Council in a press release said.

     

    “We are looking forward to the notice of appointment of the Executive Secretary of the ITAB who will be responsible for receiving appeals.”

     

    The Board, created in accordance with the Revenue Administration (Amendment) Act, 2020 (Act 1029), will tackle tax disputes and appeals against objection decisions of the Ghana Revenue Authority.

     

    For years now, the UK – Ghana Chamber of Commerce has been one of the business community’s foremost advocates for tax policy and administration reforms, that best provides an enabling business and investment environment, while raising revenues to support the economic development of Ghana.

     

     

  • Expedite public hearings on the Special Audit Report into COVID-19 expenditures – NDC to PAC

    Adnan Adams Mohammed

     

    The National Democratic Congress (NDC) has called on the Public Accounts Committee of Parliament (PAC) to expedite its public hearings on this Special Audit Report into COVID-19 expenditures.

     

    Leadership of the largest opposition party wants the hearing televised live for the Ghanaian public to follow and be apprised of how their government expended COVID-19 funds.

     

    Addressing journalist in its first ‘Moment of Truth’ press conference, the party further urge Parliament to compel the Auditor-General to exercise his power of surcharge and disallowance to retrieve all COVID-19 funds that have been misapplied or misused through various infractions and veritable acts of criminality.

     

    “We call on the Special Prosecutor to investigate all Ministers and public officials who have been cited in the report for wrongdoing and bring them to book”, Lawyer Sammy Gyemfi stressed when he addressed the media at the party’s head office.

     

    “President Akufo-Addo must immediately fire the Minister of Finance, his Health Minister, Kweku Agyemang Menu, the Minister of Information, Kojo Oppong Nkrumah, the CEO of the National Food Buffer Stock Company and all other officials who have been cited in the report for violating the laws of the country in their expenditure of COVID-19 funds.”

     

    READ FULL STATEMENT BELOW:

     

    A MOMENT OF TRUTH PRESS CONFERENCE ADDRESSED BY THE NATIONAL COMMUNICATIONS OFFICER OF THE NDC, COMRADE SAMMY GYMAFI ESQ. ON THE AUDITOR GENERAL’S REPORT ON GOVERNMENT’S COVID-19 EXPENDITURES.

     

    1st February, 2023.

     

    Good morning, distinguished ladies and gentlemen of the media.

     

    We are highly pleased to have you here in your numbers, as we resume full duties under our ‘Moment of Truth’ series. We wish to assure you of our commitment to serve you with the truth, the whole truth and nothing but the truth in these engagements.

     

    Friends from the media, we should like to believe, that by now, you all in the media have sighted the report of the Auditor-General on a special audit conducted by his office into the COVID-19 expenditures of the Akufo-Addo/Bawumia government for the period, March 2020 to June 2022.

     

    In the very recent past, you have seen calls by the Minority in Parliament, the NDC and other well-meaning Ghanaians for accountability relative to COVID expenditures being met with fierce opposition from the Akufo-Addo/Bawumia government. Indeed, you all will bear witness to the fact that, the Akufo-Addo/Bawumia government has been as scared and petrified about calls for an audit into COVID-19 expenditures, as an old lady would be over the mention of dry bones.

     

    Today, it has become apparent that behind that morbid fear of accountability, was an attempt to conceal from the Ghanaian people, what some of us have always known to be stinking rot, high-profile corruption, naked thievery and the misuse of COVID funds by the Akufo-Addo/Bawumia government. As it is often said, the chickens are finally come home to roost through this special audit report, which in our opinion is a highly charitable and watered down account of how COVID-19 funds have been expended by government.

     

    The report nonetheless reveals jaw-dropping details of how various officials and assigns of this government misapplied, misused and in some cases, wilfully looted the unprecedented resource envelope that accrued to the NPP-Akufo-Addo/Bawumia government for the management of the COVID-19 pandemic.

     

    The Auditor-General’s report reveals that, by the kind courtesy of the COVID-19 pandemic, Ghana benefitted immensely from unprecedented inflow of funds from various sources, such as the World Bank, the International Monitory Fund, the Africa Development Bank, the European Union, the Contingency Fund and the sale of BOG-COVID-19 Bonds among others. These funds, the report estimates to amount to a total of Twenty-One Billion, Eight-hundred and forty-four million, One-hundred and eighty-nine thousand, one-hundred and eighty-five Ghana Cedis, twenty-four pesewas (GHS 21,844,189,185.24).

     

    We must emphasize here, that this amount excludes other COVID-related funds such as the $1 Billion facility from the International Monetary Fund (IMF), being Ghana’s share of the IMF’s Special Drawing Rights (SDR) to boost post-COVID economic recovery of member countries. The Auditor-General’s estimate also excludes the over GHS62 million that accrued to the COVID-19 Trust Fund which was established by an Act of Parliament to help mobilize funds to complement government’s fight against the pandemic.

     

    These notwithstanding, the report observed that out of the total amount of GHS21.8 billion that accrued to the Government of Ghana, only GHS11, 750,683,059.11 was spent on COVID-19 activities, while the rest of the money (precisely GHS10, 093,506,126.13) was spent on so-called “budget support”.  The animal call “budget support” as we would later realize, was the Akufo-Addo/Bawumia government’s euphemism for their reckless and wasteful election-driven expenses which resulted in an unprecedented budget deficit of 15.7% in the year 2020.

     

    We shall now discuss fifteen (15) key highlights of the shocking revelations contained in the Auditor General’s report on government’s COVID-19 expenditures:

     

    1. Firstly, the Auditor-General’s report details how the Ministry of Health paid a total of US$120,192,379.80 to UNICEF for the supply of COVID-19 vaccines but only received vaccines valued at US$38,322,000.00, with a whopping $81.8 million of the transaction unaccounted for.

     

    This, ladies and gentlemen, raises serious concerns given the history of the current Minister of Health, under whose watch Ghana entered into the dubious Sputnik V vaccine contract and paid a colossal amount of money for vaccines which were never supplied.

     

    It would be recalled how the government of Ghana, led by the Health Minister, Kweku Agyemang Menu, chose to pay $19 per dose of Sputnik V vaccine through a phony middleman called Sheik Ahmed Dalmook Al Maktoum of the UAE, when Ghana could have easily bought these vaccines directly from the Russian government at a unit cost of $10 or less.

     

    Fellow countrymen and women, we in the NDC are very concerned, that despite the dire economic crises confronting the nation, the Akufo-Addo/Bawumia government has neglected and/or failed to retrieve the outstanding amount of $81.8 million, which could have been channeled into other developmental ventures to ameliorate the plight of suffering Ghanaians.

     

    1. Secondly, the Auditor-General’s report reveals how the Ministry of Health recklessly paid an amount of GHS10,309,919.94 as premium for Special Life Insurance Cover for 10,000 frontline Health Workers without any Life Insurance Policy document and beneficiary list.

     

    We find it intriguing, how such a huge life insurance premium was arrived at without a beneficiary list detailing names of beneficiaries, their dates of birth and other relevant information  which should have formed the very basis of the premium.

     

    This reckless misuse of COVID-19 funds by the Akufo-Addo/Bawumia government does not come to us as a surprise, given the fact that the insurance company that got 30% of the booty is Enterprise Insurance, a company closely associated with the Finance Minister, Ken Ofori-Atta. It is a known fact within the insurance fraternity, that Enterprise Insurance on whose board the wife of the Finance Minister, Angela Ofori Atta sits, today enjoys unfettered control over government insurances, as typified by this very questionable arrangement.

     

    1. Thirdly, friends from the media, the Auditor-General’s report avers that a contractor who has been awarded a contract at Nalerigu in the North East Region to build a holding, treatment and isolation centre, worth US$15,000,000.00, abandoned the project after receiving advance payment amounting to US$4,500,000.00.

     

    It is sad to note that this colossal amount was paid without the contractor submitting any performance bond or guarantee whatsoever as best practice demands. This is a clear case of financial loss to the Ghanaian taxpayer and must not go unpunished.

     

    1. Friends from the media, the Auditor-General’s report also details how the Government of Ghana through the Ministry of Health paid an amount of US$607,419.02 in the year 2022 for the supply of twenty six (26) Toyota Hiace Deluxe Ambulances valued at a total cost of US$4,049,460.12. According to the Auditor General, the delivery date of the said ambulances was 15th January, 2022. However, one year down the line, these ambulances are yet to be delivered.

     

    The irony here, ladies and gentlemen, is that, the man at the center of this scandal, Health Minister Kweku Agyemang Manu, is currently in court as the state’s principal witness in a case brought against the former Deputy Finance Minister, Hon. Ato Forson.

     

    The crux of the case against Hon. Ato Forson is that, he was allegedly involved in the issuance of Letters of Credit for the supply of some ambulances in the past, which ambulances were duly supplied and delivered only to be abandoned by this Akufo-Addo/Bawumia government. In the instant case, friends from the media, under the watch of Kweku Agyemang Manu, it remains to be seen whether the said twenty six (26) ambulances will arrive in Ghana at all. The future, they say, is pregnant.

     

    1. Still on various losses occasioned the Ghanaian tax payer, the Auditor-General’s report uncovers how medical equipment valued at US$110,088.00 and GHS27,895.00 were issued to a private hospital in Madina which did not serve as a COVID-19 isolation centre and did not receive any COVID-19 patient. This is a clear case of misapplication of COVID-19 resources and highlights how COVID funds and equipment were shared wantonly like groundnuts to cronies of the Akufo-Addo/Bawumia government instead of being used to protect lives.

     

    1. In similar vein, the Auditor-General’s report reveals how medical equipment valued at US$247,404.79, which were procured and received at the Central Medical Stores and subsequently issued to some specific health facilities, did not reach the health facilities.

     

    This ladies and gentlemen, to all intents and purposes was a create, loot and share arrangement in which officials of the Akufo-Addo/Bawumia government created schemes and procured medical equipment for personal gain under the guise of fighting COVID-19 instead of saving lives.

     

    1. The free-for-all abuse of COVID-19 funds as gleaned from the Auditor-General’s report took the form of various shady schemes. One of such underhand dealings was the case of over-invoicing by the the National Food Buffer Stock Company. The Auditor General found that between April 2020 and September, 2020, the company received three payments totaling GHS42,237,770.00, whereas waybills from various institutions which received these supplies amounted to only GHS40,831,685.00, thereby leading to over-invoicing of GHS1,406,085.00.

     

    Regrettably, instead of exercising his power to surcharge and disallow those responsible, the Auditor-General feebly prefers to as it were “recommend” to the CEO of the National Food Buffer Stock Company to refund the excess amount paid to the company.

     

    This, we find very objectionable from the report. We hereby serve notice to the CEO of the Buffer Stock Company to in his own interest refund the said funds immediately or consider himself a candidate for prosecution when power changes hands.

     

    1. Friends from the media, one of the most bizarre findings of the Auditor-General had to do with cash payments by the Ministry of Gender, Children and Social Protection totaling GH11,999,444.00 to caterers who provided hot meals during the three-weeks of partial lockdown which were all retired with “honour certificates”.

     

    It is quite obvious, even to the uninitiated, that the resort to honour certificates instead of hard evidence in the form of invoices and receipts to support these claims and payments, was an attempt to whitewash and coverup the inflated expenditure on hot meals by the Akufo-Addo/Bawumia government and has in fact, deprived the nation of value for money in the said transactions.

     

    According to the Auditor General, his office could not authenticate the cash payments because they were supported with mere honor certificates and lacked internal checks resulting in the possibility of payments being made to persons who may not have provided any service.

     

    Ladies and gentlemen, what is most shocking is a related finding by the Auditor General, that there were no certification statements prepared for payments totaling GH¢5,638,684.00 out of the GH¢7,999,524 paid to caterers at the Headquarters of the Ministry of Gender, Children and Social Protection. This is a clear case of broad daylight thievery which must not go unpunished.

     

    1. Friends of the media, it also emerged that at the height of the pandemic when frontline health workers complained about the lack of adequate PPEs, with some even losing their lives, senior management and supporting staff of the Ministry of Information were busy paying themselves a total amount of GHS151,000.00 as “COVID-19 risk allowance” without approval.

     

    One may ask, what risk did these staff of the Ministry of Information led by the Minister, Kojo Oppong Nkrumah face to warrant the sharing of such colossal amount of money among themselves as risk allowances without approval?

     

    What is even more bizarre, is the finding by the Auditor General that allowances totalling GH¢811,800.00 were paid to staff of the Information Ministry without adequate supporting documents. The Auditor General noted that apart from expenditure memos and signed sheets, there were no activity or program reports to support and authenticate the allowances paid.

     

    It goes without saying, that the Minister of Information and his staff must immediately refund these unjustifiable payments to the state coffers or be held to account.

     

    1. Ladies and Gentlemen of the press, the Auditor General also found that COVID-19 related payments were made to various service providers totalling GHS543,058,709.00 outside of the Ghana Integrated Financial Management Information System (GIFMIS), in clear violation of Regulation 61 of the Public Financial Management Regulations, 2019 (L.I 2378).

     

    Clearly, these illegal payments were deliberately made by officers of the Finance Ministry in order to obviate the strict rigours and scrutiny of the GIFMIS system. There is no doubt about the fact that this illegal act of the Akufo-Addo/Bawumia government has deprived the State of value for money as far as the said payments are concerned.

     

    1. Quite strangely, ladies and gentlemen, the Auditor General also found that contrary to Regulation 78 of the Public Financial Management Regulation (PFMR), the Ministry of Local Government made payments from COVID-19 funds totalling GH¢285,135.64 on ten (10) transactions not related to COVID-19 activities.

     

    1. Again, the Auditor General found that between April 2020 and November 2020, the Ministry of Health made twenty-three (23) payments totalling GH¢4,520,661.84 to various suppliers for the supply of food items to the Pentecost Convention and Pantang Isolation Centres to cater for COVID-19 patients. Further scrutiny by the Auditor General disclosed that out of the total payments made, GH¢3,755,202.58 were fully acquitted to substantiate the payments leaving a difference of GH¢765,459.26 unacquitted.

     

    1. Friends from the media, the Auditor General further noted that a company known as Modern Security Printers Limited was awarded a contract by government to print 929,550 pieces of educational A2 posters at the cost of GH¢4,368,885.00 and to conduct public education on COVID-19 safety protocols for students for GH¢1,456,310.00. Shockingly, the Auditor General did not find any report or evidence that supports the execution of the public education on COVID-19 safety protocols for students for which an amount of GH¢1,456,310.00 was paid. This unaccounted payment is a clear case of financial loss to the state which must be retrieved without delay.

     

    1. Additionally, the Auditor General found that contrary to the express provisions of the Public Procurement Law, the Ministry of Health, without the approval of the Central Tender Review Committee, increased the cost of five (5) contracts with total contract sum of GH¢24,256,500.00 by GH¢4,017,000.00 through variation orders.

     

    Similarly, the Auditor General established that the Ministry of Health entered into four contracts for the supply of PPEs at a cost of GH¢9,280,300.00 through single-source procurement without the approval of the Board of the Public Procurement Authority.

     

    1. Ladies and gentlemen, the Auditor General also noted that in line with update No.6 of the President’s address to the Nation of 9th April 2020, Non-governmental Organisations and individual private water sellers provided free water services to their clients and customers at the Metropolitan, Municipal and District Assemblies from April 2020 to December 2020 and submitted a total bill of GH¢37,609,791.71 for 2020.

     

    However, a review of COVID-19 free water bills at the Community Water and Sanitation Agency by the Auditor General disclosed that there were no actual water bills generated and submitted to the Agency by the NGOs and Private Individual Water providers to support their claims. The Auditor General could not verify the bill and validate the dubious payment of GH¢37,609,791.71 by the Ministry of Finance to these NGOs.

     

    CONCLUSION

    Distinguished friends from the media while time will not permit us to discuss all the startling details contained in the report of the Auditor General, the above disclosures are quite scandalizing to say the least.

     

    It is very clear that while COVID-19 may have been a national health disaster for Ghana, it was a bonanza and an avenue for officials of the Akufo-Addo/Bawumia government and the New Patriotic Party to engage in the most obscene plundering of state resources never seen before in Ghana’s history.

     

    You may recall, that at the height of the pandemic in 2020, an audio recording of one Madam Felicia Tetteh, a former MCE and Parliamentary Candidate of the NPP in the Sagnarigu Constituency in the Northern Region, emerged with grim details about how she as a Parliamentary Candidate was given GHS100,000 of COVID-19 funds, while another GHS200,000 was given to her Constituency Chairman.

     

    By simple extrapolation and arithmetics, about GHS82,500,000 of COVID-19 funds were doled out to New Patriotic Party Parliamentary Candidates and Constituency Chairmen in all 275 Constituencies across the country. How could the New Patriotic Party and the Akufo-Addo/Bawumia government be so wicked and heartless? Clearly, these are a group of people who have no love for country and have never been interested in protecting the citizenry but only came to power to steal, kill and destroy the country.

     

    It is worthy of note, that these stinking revelations have come at a time of excruciating hardships for Ghanaians occasioned by high tax payments, hyper inflation of 54.1% and an ever-increasing rate of unemployment. As we speak, government has announced a total freeze on public sector employment while our secondary schools are battling with hunger due to shortage of food supplies from the Government. Our children don’t even have access to basic curricular-based text books almost four years after the introduction of a new curricular.

     

    Ladies and gentlemen, we are all witnesses to how Government has sought to justify its mismanagement of the Ghanaian economy by citing COVID- 19 as the cause of our economic woes. Indeed, COVID-19 is the most favorite line in the Akufo-Addo/Bawumia book of lamentations for the unprecedented havoc they have caused to the Ghanaian economy. At the very least opportunity, spokespersons of this government consciously and shamelessly recite this excuse as the cause of the economic mess we presently have on our hands.

     

    What the apologists of the Akufo-Addo/Bawumia government have failed to tell the Ghanaian people is the fact that, COVID-19 brought the biggest financial windfall that have ever accrued to a sitting government in the history of Ghana. And that, our dear country would not have been plunged into the economic mess we presently find ourselves in, if these resources have been judiciously and prudently utilized by our duty-bearers.

     

    Sadly, after squandering all these resources on some very unconscionable ventures under the guise of fighting COVID-19, these callous nation-wreckers in government have turned around to not only blame the pandemic which fattened their pockets, but are now seeking to expropriate the life savings and hard-earned monies of the Ghanaian people, in the name of Domestic Debt Exchange.

     

    We in the NDC have always maintained that the manner in which COVID-19 funds were expended by the Akufo-Addo/Bawumia government spelt doom for our economy. It is a fact beyond dispute that Ghana is now bankrupt and our economy has finally collapsed under the watch of President Akufo-Addo and his Vice, Alhaji Bawumia. Having run down our economy through reckless and inordinate borrowing, stealing, and outright abuse of public funds, the Akufo-Addo/Bawumia government in a desperate move to clinch an IMF deal which appears to be their last gasp for breathe, has resorted to a Domestic Debt Exchange program which seeks to expropriate the live savings and hard earned monies of government creditors including Ghanaian citizens.

     

    Friends from the media, in the face of this unpardonable and despicable raid on the public purse, there can be no justification whatsoever for the Akufo-Addo/Bawumia government to attempt to indirectly impose a draconian debt exchange program on the Ghanaian people in order to clean a mess they and their cronies in government have created. It is therefore within the right of labour, trade unions, pensioners, individual bond holders, banks and other stakeholders to stand firmly against the brazen attempt to foist and impose unfavourable terms of a so-called domestic debt exchange program on them.

     

    DEMANDS.

    Ladies and gentlemen, we will not be surprised if the thieving Akufo-Addo/Bawumia government who have proven to be a grand monument of waste and corruption tries to coverup this corruption scandal as they have often done since they took office in the year 2017.

     

    We wish to make it clear that we cannot and will not accept any situation where the Ghanaian people will be further punished and made to suffer for the willful mismanagement and destruction of our economy while the thieves in government who continue to milk the state coffers dry are left off the hook to enjoy their loot. We shall not sit aloof and watch the mother serpent of corruption, President Akufo-Addo and his Appearance-Fee-Collection Vice, Alhaji Bawumia whitewash this audit report and sweep it under the carpet as they have done in time past. Enough is enough!

     

    Unlike President Akufo-Addo who has proven to be the Chief Corruption Clearing Agent, the whole world witnessed how the Malawian President, Lazarus Chakwera, cracked the whip on officials of his government who were found to have misused COVID-19 funds. The Malawian President is on record to have fired his Labour Minister, Ken Kandodo together with nineteen (19) other Officials. Friends, Kandodo’s crime was that he used less than $800 of the COVID-19 fund on allowances for a trip to South Africa in the company of the President. This is what decisive leadership is all about, but alas, here in Ghana, officials of the Akufo-Addo/Bawumia government receive promotion and patting at the back for engaging in acts of stealing of public funds.

     

    1. The NDC calls on the Public Accounts Committee of Parliament (PAC) to expedite its public hearings on this Special Audit Report into COVID-19 expenditures. This hearing should be televised live for the Ghanaian public to follow and be apprised of how their government expended COVID-19 funds.

     

    1. We further urge Parliament to compel the Auditor-General to exercise his power of surcharge and disallowance to retrieve all COVID-19 funds that have been misapplied or misused through various infractions and veritable acts of criminality.

     

    1. While at it, ladies and gentlemen, we call on the Special Prosecutor to investigate all Ministers and public officials who have been cited in the report for wrongdoing and bring them to book.

     

    1. President Akufo-Addo must immediately fire the Minister of Finance, his Health Minister, Kweku Agyemang Menu, the Minister of Information, Kojo Oppong Nkrumah, the CEO of the National Food Buffer Stock Company and all other officials who have been cited in the report for violating the laws of the country in their expenditure of COVID-19 funds.

     

    We thank you for your kind attention.

     

    Signed.

    SAMMY GYAMFI ESQ.

    National Communications Officer

  • Akufo-Addo/Bawumia presidency blows GHC191mn on Cabinet retreat, fuel, car batteries and others

    Adnan Adams Mohammed

     

    In a new masterpiece of analysis from Hon Samuel Okudzeto Ablakwa, the Presidency of Akufo Addo/Dr Bawumia has blown over GHC191 million on some miscellaneous expenses for the period January to September 2022.

     

    The lawmaker in the write-up indicated that, “Instructively, the 10-item expenditure summary which amounts to a massive GHS191,522,061.68 represents a tiny sample selection from more than 250 expenditure items contained in the Expenditure Documents currently under parliamentary scrutiny.

     

    “The Akufo-Addo/Bawumia/Ofori-Atta government must definitely listen to the Ghana Catholic Bishops’ Conference and indeed all Ghanaians by sincerely departing from the obscene profligacy, particularly at the ostentatious Presidency where we will expect true burden sharing and frugal leadership by example at this time of government-inflicted economic crisis.”

     

     

    Read Full Article Below:

     

    I couldn’t agree more with the revered and celebrated Ghana Catholic Bishops’ Conference following their timely appeal to the Akufo-Addo/Bawumia government to “present a posture that is consistent with the fact that the country is in dire straits or crisis” and their further demand for “drastic government expenditure control.”

     

    Expenditure documents from the Presidency between January and September 2022 which I am currently reviewing firmly justify the call from the venerable Bishops — a plea, which to be honest, many others within civil society organizations, the NDC Caucus in Parliament and former President John Mahama have been ingeminating.

     

    Readers beware, a summary of the presidential expenditure items listed below are most gut-wrenching:

     

    1) The President’s “operational enhancement expenditure” (whatever that animal is) cost the suffering Ghanaian taxpayer a mind-boggling GHS59.4million (59,486,108.91);

     

    2) The fuel bills paid at the presidency within the 9-month period under review cost the suffering Ghanaian taxpayer a colossal GHS51.1million. (51,109,137.86). Empirical analysis conducted reveals that government failed abysmally in its promise to slash fuel expenditure by 50%;

     

    3) President Akufo-Addo’s regional tours last year cost the suffering Ghanaian taxpayer a staggering GHS16.9million (16,906,272.45);

     

    4) Tyres and Batteries for official vehicles cost the suffering Ghanaian taxpayer an unbelievable GHS15million (15,000,000.00);

     

    5) The last Cabinet Retreat cost the suffering Ghanaian taxpayer a whopping GHS4.8million (4,800,000.00);

     

    6) Payment for new vehicles cost the suffering Ghanaian taxpayer GHS6.5million (6,500,000.00) — this is particularly distressing considering Finance Minister Ken Ofori-Atta’s announcement of a ban on imported official vehicles in March last year;

     

    7) Payment for Networking and ICT Equipment cost the suffering Ghanaian taxpayer an impressive GHS6.6million (6,600,000.00);

     

    8)An additional expenditure on Office Equipment/Furniture and Fittings cost the suffering Ghanaian taxpayer a fantastic GHS7.07million (7,070,315.28);

     

    9) Telecommunications and Internet Services from January to September alone cost the suffering Ghanaian taxpayer a shocking GHS20million (20,000,000.00);

     

    10) Vice President Alhaji Bawumia appears determined not to be left out. His office has on three occasions between January and September 2022 demanded what is simply described in the expenditure documents as release of funds for “URGENT AND OTHER EMERGENCIES ACTIVITIES” (wondering why emergencies and not emergency, and most importantly what exactly those emergencies and urgent matters were?). For the period under consideration and from GIFMIS Code 2210909 — a whopping GHS4.05million (4,050,227.18) of taxpayer funds from suffering Ghanaians was cumulatively released for the Vice President’s “emergency activities.”

     

    Quite obviously, the Ghana Fire Service, NADMO and the National Ambulance Service would wish they were as resourced for real emergencies as the Vice President’s office is.

     

    In the true spirit of transparency and accountability, I expect the Vice President’s office to immediately clarify to the Ghanaian people what those emergency expenditures are. I sincerely do hope that we aren’t witnessing blatant abuse of incumbency where our taxes are being funneled into the Vice President’s presidential campaign under the dubious claim of emergency activities.

     

    Moving forward, the NDC Caucus in Parliament shall be paying keener attention to these strange expenditure patterns both in the President’s office and the Vice President’s office.

     

    Instructively, the 10-item expenditure summary above which amounts to a massive GHS191,522,061.68 represents a tiny sample selection from more than 250 expenditure items contained in the Expenditure Documents currently under parliamentary scrutiny.

     

    The Akufo-Addo/Bawumia/Ofori-Atta government must definitely listen to the Ghana Catholic Bishops’ Conference and indeed all Ghanaians by sincerely departing from the obscene profligacy, particularly at the ostentatious Presidency where we will expect true burden sharing and frugal leadership by example at this time of government-inflicted economic crisis.

     

    For God and Country.

     

    Ghana First.

     

  • Ayawaso West Wuogon Violence: 4 Years NDC Solidarizes With Victims

    Ayawaso West Wuogon Violence: 4 Years NDC Solidarizes With Victims

    Adnan Adams Mohammd

     

    The National Democratic Congress (NDC) has expressed disappointment at the blatant refusal of the Akufo-Addo/Bawumia government to implement the recommendations of the Emile Short Commission and its own white paper on the sad incident that stroke Ghanaians enviable multi-party democracy.

     

    In a press release issued today, the party says, it is shameful to say the least, that till date, the Akufo-Addo/Bawumia government has not deemed it necessary to prosecute the perpetrators of the Ayawaso by-election violence.

     

    “The leadership and the entire membership of the National Democratic Congress can never forget the shame and disgrace that this dastardly event occasioned our dear country”, the statement signed by the General Secretary, Fifi Fiavi Kwetey said.

     

    “On this sad day of memories, we remember all those who were attacked and injured on that fateful day. We particularly solidarize with those who still bear the scars of the attacks they suffered in the hands of those wicked state-sponsored goons.”

     

    Full Statement:

     

    NDC SOLIDARIZES WITH VICTIMS OF AYAWASO WEST WUOGON VIOLENCE.

     

    31st January, 2023.

     

    Today is exactly four (4) years since state-sponsored bandits clothe in National Security apparels and working under the instructions of the Akufo-Addo/Bawumia/NPP government brutalized, shot and maimed innocent citizens during the Ayawaso West Wuogon bye-election.

     

    The leadership and the entire membership of the National Democratic Congress can never forget the shame and disgrace that this dastardly event occasioned our dear country.

     

    On this sad day of memories, we remember all those who were attacked and injured on that fateful day. We particularly solidarize with those who still bear the scars of the attacks they suffered in the hands of those wicked state-sponsored goons.

     

    The NDC is appalled by the blatant refusal of the Akufo-Addo/Bawumia government to implement the recommendations of the Emile Short Commission and its own white paper on this matter. It is shameful to say the least, that till date, the Akufo-Addo/Bawumia government has not deemed it necessary to prosecute the perpetrators of the Ayawaso by-election violence.

     

    Even more bizarre and sad, is the blatant refusal of the Attorney-General, Mr. Godfred Dame to discuss the modalities for the payment of compensation to the victims, as recommended by the Emile Short Commission.

     

    In the circumstances, we are giving the Akufo-Addo/Bawumia government a 30-day ultimatum to pay fair and adequate compensation to all injured victims of the Ayawaso West Wuogon violence, failing which, the NDC will collaborate with the affected persons and take all necessary steps to seek appropriate compensation for them.

     

    The NDC stands with all victims of the Ayawaso West Wuogon violence. We wish to assure them of our unflinching commitment to punish the perpetrators and seek true justice for them under the next NDC in the year 2025.

     

    Signed.

    Comrade Fifi Fiavi Kwetey

    General Secretary

  • Delays in granting tax exemptions poses serious risk to agric sector

    Delays in granting tax exemptions poses serious risk to agric sector

    Adnan Adams Mohammed

     

    Key agricultural sector stakeholders have raised alarm over government’s delay in granting tax exemptions saying it poses serious risk to the sector activities in the country.

     

    According to some of the key stakeholders the delay of Minister of Finance in granting tax exemptions for agricultural commodities as requested by Minister of Food and Agriculture is impacting negatively on their activities.

     

    It could be recalled that President of Ghana, Nana Addo Dankwa Akufo-Addo on 12th September 2022 assented to the Tax Exemptions Act 2022, Act 1083 which is meant to regulate the application of tax exemptions and create an exemptions regime for goods imported into the country. While they lauded the attempts by the government to streamline tax exemptions and rake in more revenues to develop the country, agricultural goods and equipment are not included in the list of items exempted from import duties.

     

    “This delay has a dire consequence for the sector which is already fragile due to global price increases in agricultural machinery and agro-inputs leading to high cost of production and could further worsen the food security situation in the country going forward”, Anthony S.K. Morrison, CEO of Chamber of Agribusiness Ghana, addressing journalists in Accra, last week indicated.

     

    “This decision by the government to specifically exclude agricultural goods in the list is shocking and contradicts the government’s own policy of transforming the economy through agricultural transformation.”

     

    Stakeholders present at the press conference included members of CropLife Ghana, Chamber of Agribusiness Ghana, Peasant Farmers Association of Ghana (PFAG), National Seed Trade Association of Ghana (NASTAG) and Ghana Rice Interprofessional Body (GRIB).

     

    Fortunately, to compensate for the omission, the Act allows the finance minister to grant industry-specific exemptions based on recommendations of a given sector Minister with Cabinet approval”.

     

    Given the critical nature of agricultural and agribusiness activities in the country, on 10th January 2023, the Minister of Food and Agriculture applied for exemptions for agricultural commodities.

     

    “Whiles we still await the decision of the finance Minister and government to grant the request, our clients and service providers have their goods currently locked up at the ports due to exorbitant charges slapped on them by way of import taxes”, Mr Morrison stated.

     

    For instance; he said; “one of our service providers that has livestock vaccines valued at GHS 420,000 in import was asked to pay GHS 330,000 as it no longer attracted exemptions. Due to this, the company immediately halted the shipment and asked for an extension hoping that the Ministry of Finance would have granted the exemptions”.

     

    This development has dire consequences for the sector which is already battling with high input and machinery cost partly attributed to the Russian-Ukraine conflict, high cost of shipment, depreciation of the cedi and high transport cost associated with high fuel prices.

     

    On average, most farmers in 2022 produced at a loss, some had to scale down their production and others sought for alternative businesses due to high cost of production, Mr Morrison, flanked by other key stakeholders, told the journalists.

     

    A situation leading to low food supply, high food prices contributing to record high inflation of over 54% in December 2022. This situation will be compounded if taxes are further imposed on agro-based products, they indicated.

     

    Again, this action defeats government’s own efforts to anchor the country’s developmental agenda on agricultural transformation. The government is investing in input subsidies, extension services; research and market support systems and encouraging the youth and private investors to engage in agriculture.

     

    The current situation will therefore be counterproductive to the government’s own efforts as high costs will scare investors from a sector that is already overburdened with risk and uncertainties.

     

    Furthermore, Mr Morrison and his colleagues said most agro-based industries are shrinking, and others are folding up due to high cost of raw materials; government should rather be interested in policies and actions that reduces cost of doing business in the agricultural value chains rather than counterproductive policies like import duties on agro-products.

     

    They therefore called on the Minister of Finance, as a matter of urgency, to speed up in granting the request by the Minister of Food and Agriculture and grant exemptions to the agricultural commodities as captured in the application letter.

     

    This decision should be taken immediately without any further delay, as international prices of these goods might escalate if we continue to wait, they stressed.

     

    The concerned stakeholders also called the government and Parliament to take a second and swift look at the Exemptions Act and take steps to amend and specifically include agricultural goods and equipment in the list of exemptions.

     

    The decision to have agricultural commodities being considered as general goods and given discretion to a sector minister is a dangerous move which might not augur well for the sector, according to them.

     

  • Alex Mould diagnoses the Ghanaian economy and the resultant DDE

    Alex Mould diagnoses the Ghanaian economy and the resultant DDE

    Alex Mould

    Adnan Adams Mohammed

     

    Ghanaians are facing a period of economic harshness never experienced after the periods of the military junta in 1980’s.

     

    While inflation is beating about three decades records to record over 54.1 percent for December 2022 year on year, the Ghana cedi is losing its value by over 50 percent and had been adjudged as the worst performing currency as at November last year and current ranking second worst performing currency according to Bloomberg data.

     

    Also the country defaulted in debt servicing to both domestic and foreign debtors as the country’s accumulated debt surpassed its Gross Domestic Product recording  over 105 percent debt to GDP ratio. All these compounded with already global slowdown in economic growth and business activities and as well as drop in remittance to the sub-Saharan regions.

     

    A finance expert has done a deep postmortem analysis of Ghana’s current economic woes and attributed the ‘big factor’ to reckless borrowing and expenditure.

     

    In a question and answer session with a former executive director with Standard Chartered Bank, Alexander K. Mensah Mould, he outlined the causes and solutions to our current economic challenge leading us into a ‘killer’ debt restructuring arrangements under the Domestic Debt Exchange (DDE).

     

    “The financial crisis was largely a result of structural problems that ignored the loss of tax revenue and the slow down in growth in key sectors in a sustainable way”,  the analyst responded to a question on why the government is aggressively implementing the a debt exchange.

     

    “Government was simply not bringing in enough money to cover its growing expenditure including its debt service. This has been exacerbated by high inflation, high physical deficits, low growth in key sectors ,and problems with the exchange rate.”

     

    In explaining what happened that got us into this mess, Mr Mould alluded that, “Financial indiscipline and taking wrong bets via ill-thought through policies emanating from populist manifesto promises.

     

    “Government also was not constrained in its financial management and violated many covenants it signed up for, namely; Deficit not more than 5% of GDP and Public debt to below 60% of GDP. It also misrepresented its ability to keep the exchange rate under control by supporting the Cedi via sustainable strong exports and a strong trade surplus. As long as borrowing cost remained relatively cheap and the economy was still growing then issues like current account deficit continued to be ignored.

     

    “What government did not do was to stress test the economy to see the vulnerabilities and address them by putting some risk management measures in place to address these vulnerabilities.”

     

  • Ekumfi juice enters U.S, U.K, Dubai market..as it mentors Central Citrus for pulps

    Ekumfi juice enters U.S, U.K, Dubai market..as it mentors Central Citrus for pulps

    Adnan Adams Mohammed

     

    Ekumfi Juices and Fruits Factory has advanced efforts to enter the natural juices market in Dubai, United Kingdom and United States with its varieties of pineapple juices.

     

    As demand for the zero percent undiluted natural juices is growing, there is the need for increase in production. This has resulted in management stepping up their raw materials, natural fruits, sources thereby entering into partnership with Central Citrus Factory for orange pulps.

     

    This comes after a media publication fortnight ago which reported a collapse of the factory. But during a media visit to the factory there was active production ongoing whiles management are putting in efforts to increase raw materials to jump production numbers this year.

    “We have done all the preparatory works and are now working on our export documents and by the middle of the year we will begin exporting to those markets,” the Director of Operations of Ekumfi Fruits and Juices Limited, Mr Frederick Kobbyna Acquaah revealed in an interview last week.

     

    As part of the visit, the various media houses were taken to the over 3000 acres of pineapples farms, which are the company’s own pineapple farms, in the enclave of Obiri in the Gomoa West District, Ekumfi Sardo near Otu­am and Ekumfi Edumafa in the Ekumfi District.

     

    Aside, the company’s 3000 acres cultivation of pineapples, it also in partnership with other farms that are expected to supply additional 3000 acres this year, increasing the pineapple supply to about 6000 acres this year.

     

    However, management plans to increase this farm size to about 12,000 acres to meet the increasing demand for pineapples for production and also for the sustainability of the company.

     

    “The new market we have found in US, UK, and Dubai have also necessitated the increase of our farms,” Mr Acquaah stated.

     

    Consequently, the Director spoke bitterly against false news about the factory established under the one district one factory initiative.

     

    Contrary to some media reports that the company has collapsed, Mr Acquaah explained that, the company has not shut down, saying the company produced based on demand to maximise economies of scale.

     

    “Whatever we produced has already been sold,” Mr Acquaah said.

     

    He said the company currently produced five various types of ‘Eku Juice’ and plans were advanced to introduce three additional variants.

     

    He explained that the factory, which has seen over $20 million investment, and located at Ekumfi Abor in the Ekumfi District in the Central Region, has the capacity to process ten tonnes of pineapple per hour which translated into four acres of pineapple farm.

     

    He said the company had more than 1000 workers who are mostly on the farms, adding that the factory had more than 75 professionals.

     

    The Director of Operations said the company was running a double-shift system and the expansion plan would help triple it.

     

    He said the establishment of the factory had helped to create jobs and improve the economy of the area in since the factory was established.

     

    Mr Acquaah took the journalists round the $10 million Central Citrus Processing Limited at Abura-Asebu in the Abura-Asebu-Kwamankese District which Ekumfi Juices and Fruits Factory is mentoring for mutual interest.

     

    The factory is to process citrus oil from the peels of oranges for export, while Ekumfi Fruits and Juices Limited would used the pulp for citrus juice.

     

    He said the factory was located in a citrus production enclave and would help address the post-harvest losses of the citrus produced in the area and boost the economies of towns around the factory.

     

    On corporate social investment, Mr Acquaah said the company was delivering on its corporate social responsibility by awarding scholarships and providing sanitation facilities to communities in the catchment area of the company.

     

    The Ekumfi Fruits and Juices Limited was established in 2019, under the One District, One Factory initiative.

     

  • Minority Leadership Change: NDC Council Of Elders Call For Calm

    Adnan Adams Mohammed

     

    Following the tension that has divided the minority in Parliament after the announcement of the change in leadership, the Council of Elders of the National Democratic Congress has called for calm.

     

    The Chairman of the Council, Alhaji Mahama Iddrisu, in a press statement assured members of parliament who petitioned the Council to intervene of principled and timely response.

     

    “The Council assures the rank and file of the Party of an early and principled resolution of the issues and ultimately, the NDC will emerge stronger and more united”, the statement said.

     

    Read full statement below:

     

    For Immediate Release

    28th January, 2023

     

    PRESS STATEMENT BY THE NDC COUNCIL OF ELDERS ON THE RECENT CHANGES IN NDC PARLIAMENTARY CAUCUS LEADERSHIP.

     

    The Council of Elders of the NDC acknowledges receipt of a petition from some members of the NDC Parliamentary caucus regarding recent appointments to leadership positions.

     

    The Council has initiated steps to act expeditiously on the petition and related matters. While this process is underway, the Council urges our Honourable Members of Parliament, Party leadership at all levels and all concerned persons to refrain from further public pronouncements on the matter in the larger interest of our great NDC. This is a time to be circumspect in order not to play into the hands of our detractors.

     

    The Council assures the rank and file of the Party of an early and principled resolution of the issues and ultimately, the NDC will emerge stronger and more united.

     

    We urge all members of the NDC to re-dedicate themselves to working for victory in the Presidential and Parliamentary elections in 2024, to alleviate the suffering of the Ghanaian people.

     

    Signed.

    Alhaji Mahama Iddrisu

    Chairman

    Signed.

  • Africa still has hope – John Mahama

    Africa still has hope – John Mahama

    Adnan Adams Mohammed

     

    His Excellency John Dramani Mahama has given an assurance that all hopes are not lost yet for the African contitnent inspite of her numerous challenges.

     

    Delivering a lecture organised by Chatham House on the topic “Africa’s strategic priorities and global role”, the former President of the Republic of Ghana called on regional blocs to have a firmer grip with effective leadership on their various nations to help address challenges.

     

    “All hope is not lost for Africa”, Mr Mahama said. “Africa, including my country Ghana, has strategic priorities and is ready and willing to play its role in the global community.”

     

    “It is also of critical importance that regional bodies like the ECOWAS, SADC, EAC, CEMAC, the Arab Maghreb Union and African Union must be empowered to have a firmer grip on their member nations to address regional/ continental/ global challenges. Other international bodies like the European Union and the TANA High-Level Forum for Security in Africa, which I chair, must provide the needed support, including oversight and scrutiny of activities likely to lead to serious consequences.”

     

    The former president stressed on this point of oversight because we observe that the laxity in supervision and oversight has given free reins to some leaders on the continent to wreak constitutional tyranny on their people with some changing their country’s constitution so they could run for extended terms.

     

    “No single country in Africa can on its own attain the highest level of development when it is

    surrounded by neighbouring countries engaging in full scale-conflict. It is therefore important

    that there is stability and sustainable development in Africa, which will help lead to global

    security and prosperity.

     

    “With the right steps and visionary leadership as well as a willingness to dig deep and find

    innovative solutions to the decades-old challenges, we must emerge a stronger force to reckon

    with.”

     

    Full Statement Below:

    [pdf-embedder url=”https://newsguideafrica.com/wp-content/uploads/2023/01/John-Mahama-on-Africas-strategic-priorities-and-global-role_Chatham-House_Media.pdf” title=”John Mahama on Africa’s strategic priorities and global role_Chatham House_Media”]