Browsing: Politics

The finance and energy expert, Alex Mould has, thus, summarised the liabilities of the major SOEs in the country to help in critical scrutiny of the performance of the SOEs. In the summary, it was clear that, most of the SOEs more than doubled their arrears payments or liabilities. The heavily indebted were GNPC, Ghana Cocoa Board (COCOBOD) and Electricity Company of Ghana (ECG). These companies have their liabilities exceeding GHC10.0 billion within a period of four years from 2016 to 2020.

Underlying Business of your company, BOST is PROFITABLE – The report of the GHC400
million losses made by BOST is not accurate. To measure the profitability and operational efficiency of a Business one must determine whether the underlying operations (core business) of the company are profitable.

The World Bank has released GH¢42 million through the Ghana Productive Safety Net Project 2 (GPSNP 2), to support the Government of Ghana (GoG) to pay two cycles of arrears—75th and 76th cycles—of the Livelihood Empowerment Against Poverty (LEAP) for 344,000 beneficiary households.

According to the 2020 State Ownership Report, the SOEs recorded a GH¢2.61 billion loss in 2020, although that was about 50 percent better over the 2019 aggregate loss of ¢5.16 billion. This has pushed the Finance Minister, Ken Ofori-Atta, to call on the managements of the SOEs for more urgent and collective work to address these losses. But, the economist stressed on his advises that, some SOEs over the years have been saddled with debt over issues of mismanagement among others.

He chided President Nana Akufo-Addo’s comments he made during the recent interview with the BBC, where the President sought to defend the state of the Ghanaian economy as a result of the impact of the COVID-19 pandemic and the Russian – Ukraine War.

According to a Bloomberg report, the Ghana Cedi depreciated by 18.21 percent against the U.S dollar in the first quarter of 2022. This places the Cedi as the worst-performing currency in Africa while the Angolan Kwanza is the best-performing currency in Africa as it currency appreciated by 24 percent against the dollar.

Mobile Money (MoMo) vendors across the country complained that, there were madrush withdrawals at their various mobile money vending outlets causing them to run out of cash which has tendency to collapse their petty business in the circumstances of the current economic hardship. However, it took the president, Nana Akufo Addo two working days to assent to the E-Levy law despite majority of Ghanaians haven openly kicked against the levy, especially taxing MoMo. An economics professor at the University of Ghana Business School shared his disappointment at the government for ignoring a better and progressive tax alternatives to push through the regressive E-Levy.

“Warm congratulations to the Senior National Football Team, the Black Stars… for qualifying for the 2022 World Cup in Qatar. I am very proud of the team’s exploits. They have made the entire nation proud,” he tweeted.

In the hung Parliament of 137 MPs apiece for the Majority New Patriotic Party (NPP) side and the Minority National Democratic Congress (NDC) side, a required quorum for the vote would have been 138 MPs, the Minority has explained.

The Hon Member of Parliament for North Tongu in the Volta region, Samuel O. Ablakwa has secured internship package for Ghanaian medical students who were in school in Ukraine and evacuated due to the crisis.