Friday, 10 May 2024 | Login

Residents and pedestrians in and around Korle Gonno in Accra are now able to breathe fresh air without the regular smell of faeces.

Published in Local News

In just six months of governance, President Nana Addo Dankwa Akufo-Addo’s administration has unveiled commitments totaling over $2.5 billion to propel the establishment and revival of private sector led initiatives aimed at creating the much needed jobs for the teeming unemployed Ghanaians to kick start an industrial revolution.

In recognition of the World Bank data showing that 48% of Ghanaian youth are unemployed which is among the highest in the world, the president admits that job creation will define his presidency hence the need for accelerated job creation.

$2b China Suppliers Credit Facility for 1-District-1-Factory

 

In this respect, government in collaboration with the Association of Ghana Industries (AGI) had arranged a Suppliers Credit Facility for $2billion from China to provide equipment, machinery and other facilities to make 1-District, 1-Factory project a reality.

 

Govt commits $100m to 1-District, 1-Factory
This is in addition to $100million allocated by government to support the establishment of the district enterprises and the 1-District, 1-Factory project.

$340m from banks towards 1-District-1-Factory
So far, an additional amount of $340million has been leveraged from local banks and financial institutions to support 1-District, 1-Factory initiative.

Govt commits $10m to NEIP
Government has also committed $10million to the National Entrepreneurship and Innovations Plan (NEIP), an innovative scheme, under the Business Development Ministry, to help startups steer their way clear out of the difficult early stages of setting up businesses.

NEIP to be scaled up to $100m by private sector.

The objective of the NEIP is to encourage the private sector to invest into the initiative and leverage it from government’s $10million to $100million.

Govt votes $50m for stimulus package
President Nana Akufo-Addo announced that so far, 80 distressed companies have been adjudged eligible to receive stimulus packages meant for the revival of distressed companies.

Govt votes $50m for stimulus packages 
“At the end of June 2017, 285 applications had been received. So far, 118 of these applications have been screened, of which 80 have been adjudged eligible for various stimulus packages,” he stated.

$20m from local financial institutions for stimulus package

An amount of $20 million has also been earmarked by local financial institutions as part of the stimulus package, the President announced.

The president assured Ghanaians that his government would not renege on the campaign promise to create jobs for the teeming masses and improve their lives.

Progress made in Agriculture 
Conscious of the fact that agriculture remained key to providing the majority of the jobs promised the people of Ghana; the President said his government was paying urgent attention to “the modernisation of our agricultural practices.”

On that score, he said extension officers were being employed to provide hands-on support to farmers, adding “we are generally paying extra attention to every stage of farming.”

“The one-village-one-dam scheme is taking off in the three northern regions with the rehabilitation of the existing ones that are in sad states of disrepair. Planting for Food and Jobs, one of our flagship initiatives, has also started with increasing enthusiasm,” President Akufo Addo said.

He said that planting for Food and Jobs programme had registered 185,000 farmers out of the 200,000 targeted.

Government, he announced was bearing 50 per cent of the cost of fertiliser for farmers in that project, adding that 80,037 tonnes of fertiliser had been distributed to farmers enrolled on the programme while 35,747 metric tonnes of seedlings had also been supplied to farmers.

Economic gains in 6 months
Turning to economic activities, the President said the gradual decline in the cost of borrowing and the increase in banks’ credit to the private sector was encouraging.

The monetary policy rate (MPR) of the Bank of Ghana has been cut from 25.5 percent to 22.5 percent and could be trending further down, while inflation had within a period of six months gone down from 15.4 per cent in December 2016 to 12.1 per cent in June 2017, the lowest in four years.

The benchmark 91-day Treasury Bill (T-bill) rate which was 22.8 percent in January 2016 has narrowed to 11.9 percent in June 2017, the lowest in 5 years.

The President however, admitted that there was more to do “to bring down the cost of borrowing to enable businesses to have access to much needed credit.”

“It is my hope and expectation that these statistics will soon translate into tangible benefits in the lives of Ghanaians,” he noted.

Published in Politics

Senior broadcast journalist, Paul Adom-Otchere has described the President’s delegation of other officials in his government to provide answers to certain questions asked at the media encounter on Tuesday as an

Published in Politics

The Chief Justice, Ms Justice Sophia Akuffo, has stepped in to calm the nerves of magistrates and judges over their unpaid allowances.

According to the President of the Association of Magistrates and Judges, Mr Justice Victor Ofoe, “there was tension among magistrates and judges over unpaid allowances and benefits, but the Chief Justice had

Published in Local News
Wednesday, 19 July 2017 12:20

Fire guts office in Parliament

Fire last night gutted an office on the 10th floor of the Job 600 building serving as offices for the 275 Members of Parliament (MPs).

Published in Local News
Wednesday, 19 July 2017 06:00

President holds maiden press interaction

President Nana Addo Dankwa Akufo-Addo yesterday answered questions from a cross-section of the media in the country as a way of accounting for his stewardship since assuming office on January 7, 2017.

The event, which took place at the Flagstaff House, came off six months after the President assumed office.

It was not the first time a sitting President had taken the bold decision to show concrete evidence of his stewardship to a cross-section of the media.

It was started in 2001 by former President J. A. Kufuor, who christened it “Meet the people’’. It was adopted by the late President J. E. A. Mills, who called it “Media encounter’’, which was sustained by his successor, John Dramani Mahama.

Diverse issue

President Akufo-Addo, sporting his usual colourful African print, was quizzed on diverse issues, ranging from the galamsey scourge, his recognition as a gender champion, borrowing by his administration, projects, interest rates, domestic debt stock and its impact on the economy, health, education, to efforts being made to retrieve Wayome’s money, corruption, among others.

In answering the questions, the President (standing most of the time) left no one in doubt that he was on top of the issues. 

However, a few of the questions were half answered. Whiles some of the questions from the media were critical few others were not properly thought through.

Worthy exercise

Present at the event to provide moral support for the President were the Vice-President, Alhaji Dr Mahamudu Bawumia; the Senior Minister, Mr Yaw Osafo-Maafo; Mr Alan Kyerematen, the Minister of Trade and Industry; Mrs Ursula Owusu-Ekuful, the Minister of Communications; Mr Boakye Agyarko, the Minister of Energy, and New Patriotic Party (NPP) bigwigs, including the acting National Chairman, Mr Freddie Blay, and Sheikh I. C. Quaye, a former Greater Accra Regional Minister.

 The well-attended event was moderated by the Minister of Information, Mr Mustapha Abdul-Hamid.

During the nearly two-hour interaction, the President was supported by his Vice to answer some of the questions, particularly those bordering on the economy and finance.

Reactions

Throughout the exchanges, the media showed great enthusiasm in asking the questions.

Because of time constraints, some ministers who were present took turns to answer follow-up questions from the media after the event.

Some media personnel who spoke to the Daily Graphic lauded the exercise and underscored the need for it to be sustained.

Other media personnel advocated the broadening of media participants in the event. They were of the view that the use of accreditation for media institutions would address the problem of some media house representatives being always absent from such important national events.

On why he put his job on the line in his fight against galamsey, President Akufo-Addo reminded Ghanaians about the threat galamsey posed to the future of the resources of the country.

He described the impact of the menace as enormous, as it affected water bodies, forest cover and agriculture.

Published in Politics

Hundreds, including former President Jerry John Rawlings and the Minister of Youth and Sports, Isaac Kwame Asiamah on Tuesday joined Black Stars skipper Asamoah Gyan to commission an astroturf project at the Accra Academy campus.

Published in Sports

Alexis Sanchez can lead Arsenal back into the Champions League and will not be sold by the club, says Arsene Wenger.

Published in Sports

A young Indian soldier has shot dead a commanding officer in Indian-administered Kashmir after an altercation, the army has confirmed.

Published in Asia

The brother of Iranian President Hassan Rouhani has been released after being detained for two days by police, Iranian media say.

Published in Mid-East