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McDan Boss Wins Top Award

McDan Boss Wins Top Award (0)

Dr. Daniel Mckorley, Chief Executive officer (CEO) of McDan Shipping Company, has won the ‘CEO of the Year Award’. This was at the second edition of the Ghana Shippers Awards, jointly organize by Globe Productions, the Transport Ministry, the Ghana Shippers Authority (GSA) and Graphic Communications Group, in Accra. Mr. McDonald Vasnanie, CEO of Conship, was adjudged the ‘Entrepreneur of the Year’ with the ‘Promising Entrepreneur’ award going to Isaac Amoako-Mensah. Mrs. Della Russel Ocloo, a journalist with the Graphic Communications Group took the prize for the ‘Reporter of the Year’. Over 40 shipping companies including Consolidated Shipping Agencies Limited, Sea and Shore services Ghana Limited, Transglobal Logistics Limited, Benmarine Services Limited and Swissport Ghana Limited received prizes. Mr. Kwaku Ofori Asiamah, Minister of Transport, applauded the initiative to recognize excellence in the shipping industry. The awards would serve as motivation to everybody – to up their game and improve the quality of client service. He underlined the government’s unswerving determination to create the right conditions and support local and private enterprises to succeed. This was vital to its drive towards job and wealth creation to put the nation beyond aid. Mr. Asiamah said the paperless system at the ports was meant to bring about efficiency and facilitate business operations at the ports. He encouraged the companies to continue to stick with best practices to expand and lead the nation’s socio-economic growth. Ms. Benonita Bismarck, the CEO of GSA, said the award was to recognize individuals and companies that played significant roles in the growth and development of the industry. It was also to acknowledge the key functions within the industry which promoted growth and sustainability. She announced that there was an 18 percent increase in demurrage payment in the first quarter of the year. That came to US$15.4 million dollars. Source: The New Crusading Guide

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Nine assemblies in the Brong Ahafo region have been cited in the 2017 Auditor-General’s report of failing to provide receipts for spending GHc 500, 000 of the District Assembly Common Fund. The 2017 Auditor-General’s report has blamed the irregularity on poor supervision by the Finance Officers and has demanded that the District Coordinating Directors and Finance Officers at the assemblies refund the missing funds. According to the report, nine assemblies spent over GH¢500,000 on goods and services but failed to substantiate the payments with receipts, invoices and programme reports. The Asunafo South District Assembly, for instance, spent GH¢213, 615 on tyres, building materials, food items and sanitation services. The Jaman South District Assembly used GH¢19,943 of the Common Fund to support students. The Nkoranza South Municipal Assembly expended GH¢45,400 on agricultural inputs and support to students. Dormaa East District Assembly also spent GH¢16,160 of the District Assembly Common Fund on funeral donations and community meetings. The Dormaa West used GH¢17,660 on reshaping of roads. The Tano North District Assembly spent GH¢16,696 of the Common Fund on building materials, works on streetlights, educational support. The Sunyani West District Assembly spent GH¢56,285 of District Assemblies Common Fund on food items, allowances, reshaping and installation of metres. It also used GH¢73,650 on building materials, musical instruments and fees. The Tain, Banda and Wenchi municipal assemblies were also cited. The Wenchi Municipal Assembly spent GH¢43,558 the Fund on administrative expenses. The Auditor-General blamed poor supervision on the part of the respective Finance Officers to ensure that these relevant documents were obtained before payments were made. The Auditor-General is recommending that the finance officers should refund the amounts accordingly. The DACF is a pool of resources created under Article 252 of the 1992 Constitution of Ghana. It is a minimum of 5% of the national revenue set aside to be shared among all District Assemblies in Ghana with a formula approved by Parliament. The Fund is a Development Fund which enables the use of the nation’s wealth throughout Ghana for the benefit of all citizen.
A retired governor of the Bank of Ghana, Dr. Asibi Abudu, is suggesting that Ghana needs foreign investigators to help deal with corruption and scandals that led to the collapse of some local banks in the country. The author of more than 18 books and retired worker for International Bank in the Middle East also called for the prosecution of all those involved. The independent probe he noted will unravel the circumstances that caused the collapse of the banks. The Central Bank he said failed to do their work properly and individuals who were in charge of the bank, should be charged for causing financial loss to the state. Prominent persons at the BoG through the assistance from political figures caused the mess and so we need an independent investigation in which case we should borrow from outside; look at what is going on at the Central Bank and expose those responsible.’’ Dr. Asibi Abudu believes those who manipulated the system, cheated or failed to diligently do their work should be prosecuted. Ghana shall make progress if we have honest people in positions, he opined. ‘’We need a system that can clean the corrupt system. And to start with, all those big fish who have been cheating; the people who have not been doing their work well like the BoG or the private banks themselves where supervision is poor, are complacent; they are also conspiring to wreck this nation of ours, and they should be dealt with strictly so it serve as example.’’ He insisted that, we should blame the BoG for failing on their job adding, ‘’there are people there who don’t know what to do and yet they are there; they are being paid very well and yet, they are completely incompetent.’’ The renowned economist added: ‘’I think we need a thorough investigation; not by Ghanaians but get some neutral persons who can come in; like Transparency International like some of these institutions in America and Europe. Let them come and help us to investigate and expose those involved.’’ He also called for the publication of all the findings so Ghanaians will know those behind the scandals to help Ghanaians know what is happening. The Bank of Ghana few weeks ago merged five banks into a Consolidated Bank of Ghana Limited. The banks are BEIGE, Sovereign, Construction, UniBank and Royal Bank. It follows the insolvency of the five banks after investigations by Bank of Ghana (BoG). The government has also issued a bond totaling GHc5.6 billion to cater for bad assets of the four banks, Dr Addison said. Explaining, the Governor said Unibank and Royal Bank were under capitalised and that those banks were beyond rehabilitation.
A former governor of the Bank of Ghana (BoG), Dr. Asibi Abudu has called for the prosecution of all individuals culpable in the collapse of some seven local banks in the country. The former governor who retired in 1980 believes all culpable persons must be dragged before a competent court of jurisdiction and trailed. Speaking in an interview with Kwame Tutu on Rainbow Radio’s morning show, Frontline, Dr Abudu blamed the Central Bank for the mess caused. He attributed lack of supervision on the part of the BoG as major cause of the collapse of the banks. ‘’One of the major problems we have in this country…is that, supervision is very very poor. All these scandals that you are talking about; I blame Bank of Ghana because they did not use due diligence; they did not do their work properly. My feeling is that, those people who have not done their work properly have been responsible for causing financial loss to the state.’’ Ghana he lamented glorifies dishonesty and corruption and in most institutions, we have square pegs in round holes because of incompetence and people get into positions in order to steal and take care of themselves. Dr. Asibi Abudu also called for an independent probe into the scandals. He suggested the use of independent bodies (non-Ghanaian) to help investigate the matter and deal with those involved. ‘’We need an independent investigation in which case I think we should borrow people from outside; neutral people so they will find who are responsible for not doing their work,’’ he added. Using a football coach as an example, he called for people to be sacked if they fail on their job just like coaches are sacked for loosing matches. ‘’All those who would be found guilty and cheating; there should all be brought to book; they should be brought to court and trailed for deliberate negligence.’’ Dr. Asibi Abudu went on to state that, until we prosecute the offenders, people will continue to be corrupt with support from political figures.
President Nana Akufo-Addo has assured Ghanaians the country will not return to the International Monetary Fund (IMF) for bailout again. The president told a gathering at the St. Peter’s Cathedral Basilica that his administration was doing everything possible to successfully wean the country off the IMF and run the economy independently of the Bretton Woods institutions. Nana Addo was speaking at a thanksgiving service held to end his five-day of the Ashanti region. According to the president, government was pursuing policies that would guarantee inclusive and coherent society for a peaceful and stable country and called on everybody including the church to play their roles to build a prosperous and peaceful nation. On his part, Most Rev. Gabriel Justice Yaw Anokye, Metropolitan Archbishop of Catholic Archdiocese of Kumasi, said Ghana could be a secured and stable country if people learned to accommodate opposing views and accepted the wisdom in them. In his view, the country would even be more peaceful if the people eschewed corruption, vindictiveness, depletion of natural resources and showed love to one another. “The media must denounce and stop people from making derogatory and unsavory comments about others on their platforms.” Ghana in 2015, entered into an agreement with the International Monetary Fund for economic assistance. The deal concluded with a funding support of 918 million dollars to be disbursed under eight tranches. In 2017, government reached an agreement with the International Monetary Fund (IMF) to extend the Credit Facility programme by a year. This followed a conclusion of an assessment of the fourth review of the Extended Credit Facility by the IMF board.
The President of the Republic, Nana Addo Dankwa Akufo-Addo, has reiterated the commitment of his government to ensuring that the double-track school calendar, which will be implemented in September 2018 for some Senior High Schools in the country, is a success. According to President Akufo-Addo, “we are going to make sure it is a success. So, I am pleading with you, please ignore the Pharisees who are singing the ‘impossible’ tune, and stick with me. It will be a success.” Speaking on Sunday, 12th August, 2018, at Mpasaaso, in the Ahafo Ano North constituency, after inspecting construction works on the 19.5 kilometre Mpasaaso to Wioso Road, President Akufo-Addo stated that when the free SHS policy begun in September 2017, the naysayers were optimistic that the policy would fail. “The logical thing for them (naysayers) was for each person to pay for their education. Ghanaians chose to believe in me, and the Free SHS vision by the vote of the 7th December. Ghanaians indicated that they wanted Free SHS; that was the meaning of the emphatic vote I received in December 2016. “We are not going to go back on that, not today, not tomorrow! So, whenever the naysayers come to spread their lies, hoot at them, and do not give them audience,” President Akufo-Addo added. With 90,000 new entrants in 2017, and the number doubling to some 180,000 in September 2018, the President noted that “every child of school going age in Ghana will have the opportunity to go to school up to the Senior High School level, and I intend to keep that pledge.” On the Double-Track System, he assured the Chiefs and people of Mpasaaso, that “I will never present anything that is not worth it to the Ghanaian people. The double track system will ensure longer contact hours, teachers will have longer periods of interaction with the students, and the numbers of enrolled students will increase.” Touching on the Programme for Planting for Food and Jobs, the initiative introduced in 2017 by the Ministry of Food and Agriculture, President Akufo-Addo bemoaned the low numbers of farmers who took advantage of the programme in the Ashanti Region. “The farmers of the Upper East and Upper West regions have embraced it wholeheartedly. The Programme, this year, will cover 500,000 farmers. I urge farmers in the Ashanti Region to come on board, and, thereby, guarantee increased agricultural productivity this year.” President Akufo-Addo, in responding to the concerns of the Chief of Mpasaaso, Nana Tabiri Gyansah III, assured that his request for the construction of a new police station for the community will be tabled before the Minister for Interior for the necessary action to be taken. Happy with the progress of work on the 19.5 kilometre stretch of road, President Akufo-Addo assured further that “the work will be completed and the much-needed relief will come to this town.” President Akufo-Addo also attended the Akwasidae festival, held at the Manhyia Palace, after his visit to Mpasaaso. The festival, which is held on the first Sunday after every 40 days on the Asante calendar, gives people, in and out of Ashanti, the opportunity to pay homage to the Asantehene.
The President of the Republic, Nana Addo Dankwa Akufo-Addo, has revealed that his administration has set aside, for 2018 alone, an amount of GH¢500 million to construct new roads, as well as give a facelift to some existing roads in the Ashanti Region. Speaking at the Akwasidae celebrations, on Sunday, 12th August, 2018, at the Manhyia Palace, President Akufo-Addo noted that, despite the “unprecedented infrastructural development” touted by the predecessor government, the consistent cry of the Ghanaian people, everywhere he has been since becoming President, has been about the poor nature of their roads. “So where is this unprecedented infrastructural development that was touted by my predecessor? The roads in Ghana’s second biggest city, Kumasi, are nothing to write home about, even though much of the country’s revenues and resources come from the Ashanti Region,” the President bemoaned. He continued, “I was left with a bankrupt economy, but with hard work and discipline, we have been able to find money. So, this year, GH¢500 million has been devoted to the roads in Ashanti. This comprehensive plan for roads, i.e. the Kumasi Roads Facelift Project, has already been approved by Cabinet, and will result in the facelift of Kumasi roads, as well as the development of roads in Ashanti.” The President noted that his administration cannot fix all roads in the Region, and, indeed, in the entire country at a go, but assured that before he leaves office, the vast majority of roads in the country would have been fixed. Government’s focus on infrastructure, he said, is not only about the development of the country’s road network, stressing that railway infrastructure is also critical to the country’s needs. “Over the years, we have not maintained our railway sector. However, in my time, the railway sector is undergoing massive rehabilitation. Shortly, the Minister for Railways Development, Hon. Joe Ghartey, will roll-out the comprehensive plan my Government has for the redevelopment of our country’s railway sector,” he added President Akufo-Addo assured that “Kumasi is going to be at the heart, and will be a central hub of the whole railway infrastructure of our country. This will ensure easy access from Kumasi to Nyinahini, and to all the key natural resource areas in Asanteman.” He, thus, appealed to Otumfuo Osei Tutu and all the Chiefs of the Ashanti Region to support the programmes and policies put in place by his Government, and also help educate their subjects about the importance of these measures, and they being the surest route to progress and prosperity. “There will be those who will always want to obstruct progress, and put obstacles in my way and in the way of my government. But, I can assure them that it will not work. These programmes, when implemented, will bring development to Ghana and, indeed, to Asanteman,” he added. President Akufo-Addo also paid tribute to the work undertaken by the Asantehene in bringing most chieftaincy disputes in the region to an end. “Together, let us all help to resolve all the remaining disputes. Chieftaincy disputes are a drain on government’s resources, and, if anyone understands what I am saying better, it is you, Otumfuo.” “My wish is that, when the story of our country’s history is being told, it should be said that it was during the time of two friends, Otumfuo Osei Tutu and President Akufo-Addo, that Ghana and Asanteman were put on the path of progress and prosperity,” he added.
Dzata Cement has rubbished claims that it contributed to the collapse of UT bank in 2017. According to a statement issued by the company's lawyer on behalf of CEO Ibrahim Mahama, the company which is 80 percent discount not default in payment. The statement indicated the payment was structured to start after completion of the company and sales have stated. The statement in parts read: "The outlining agreement which culminated in UT Bank offering financial assistance was that, it will provide liquidity support to Dzata Cement until the factory commence operations and starts selling its cement. The agreement was that all payments or proceeds from the sale of cement will be paid directly into an account owned and operated by UT Bank." BRIEF FACTS ABOUT BANK FACILITIES WITH UT BANK NOW IN RECEIVERSHIP). 1. The sum of money put out there as the amount owed by companies 'owned' by Ibrahim Maliama is not accurate and not a reflection of the facts and documents. 2. Over a period of time, a group of companies with a company purpose and vision conceived the idea of jointly establishing a cement factory in Ghana and accordingly pulled resources together to actualize this vision. 3. Pursuant to the vision. Dzata cement Rd put together a proposal for funding and sent them to a number of Banks for financial support 4. UT Bank after a thorough due diligence on the companies agreed to offer financial support to Dzata cement ltd on terms. 5. The outlining agreement which culminated in UT Bank offering financial assistance was that, it will provide liquidity support to Dzata Cement until the factory commence operations and starts selling its cement. 6. The agreement was that all payments or proceeds from the sale of cement will be paid directly into an account owned and operated by UT Bank. 7. Indeed it was agreed by the Parties that UT Bank will have a branch on the premises of the factory which will serve as pay point for all products purchased by customers. ADVERTISEMENT 8. The projected revenue per day from the sale of cement was a minimum of GHC 1,000,000 and with this projection Dzata would have paid off the loan with the interest in less than five years. 9. It was agreed that UT Bank will finance the cement factory till it becomes operational but this unfortunately could not happen due to the revocation of its licence last year. At the time the Bank's licence was revoked the records will show that the project was about 80% complete 10. Due to the unexpected revocation or the Bank's licence Dzata had to resort to other financiers for support to complete the project. In February 2018, government of Ghana gave the Cement company clearance to import 1.2 million metric tonnes of bulk cement for re-bagging based on evidence of installed bagging Plant. 11. As stated earlier, the loans advanced to Dzata cement was to be repaid from the proceeds of the sale of cement. Clearly at the time the Licence of the Bank was revoked, Dzata could not have been in a position of default because the factory was not operational then. 12. It must also be noted that, Mr. Ibrahim Mahama did not contribute in any way towards the 'collapse' of UT Bank. the evidence available to the Bank will show clearly that the loans taken by Dzata Cement were over collateralized. 13. The report purportedly making the rounds in the media may have been skewed or misrepresents the facts and therefore should be dismissed. Sgd. Reindorf Twumasi Esq 0243533095
Latest News HomeBriefing RoomLatest News“We Are Fulfilling Our Promises” – President Akufo-Addo “We Are Fulfilling Our Promises” – President Akufo-Addo Communications Bureau Latest News 12 August 2018 The President of the Republic, Nana Addo Dankwa Akufo-Addo, says the period of stay of his administration in office has witnessed the fulfillment of many of the promises he made to the Ghanaian people in the run-up to the December 2016 elections. According to President Akufo-Addo, “the work that we promised to do, the promises I made during the campaign period, I believe that all Ghanaians can attest to the fact that they were not idle promises, but rather promises that I honestly believed that I could fulfill, once I won power.” Addressing a durbar of chiefs held in his honour at Beposo, on Saturday, 11th August, 2018, i.e. day 2 of his 5-day tour of the Ashanti Region, President Akufo-Addo stressed that, amongst others, Free Senior High School Education is a reality today. “Those who said we could not do it have been put to shame. Very soon, we will pass legislation that stipulates that every child in Ghana should go to school up to Senior High School level, at least. We don’t want dropouts. This way, everyone can find meaningful employment in this country,” the President said. He continued, “We have reduced electricity tariffs as well, so as to bring relief to individual households, as well as to businesses. By so doing, business owners, especially entrepreneurs, will be energised to bring in more income. We came to visit you and to inform you that the promises we made to you here in Beposo, during the campaign period, are being fulfilled. President Akufo-Addo thanked the Chief of Beposo, Nana Boamah Kwabi IV, for the large tracts of land, i.e. 24,000 acres, given to his administration to facilitate the realization of Government’s flagship projects such as the Programme for Planting for Food and Jobs, and 1-District-1-Factory. “These are very valuable additions. I am truly thankful. In the same vein, the Kwamanhene has also offered us 5,000 acres for Planting for Food and Jobs. The Nsutamanhene has also given us 3,000 acres for warehouses. Out of the 21 constituencies here in Asanteman that will have warehouses, the Nsuta constituency will receive one,” he added. Touching the concerns of the Beposohene on the extension of electricity to all communities in Beposo, President Akufo-Addo assured that Government is working towards ensuring that “every town and village in this country will have access to electricity, so that nobody will be left behind. “It is systematic. We are pushing for complete rural electrification and very soon, you will hear from us here in Beposo.” Earlier in the day, President Akufo-Addo visited the Rocklands Farms in Beposo, Wontumi Farms in Asare Nkwanta, and visited Assam, in Mampong, to inspect ongoing works on the Kofiase-Mampong road, which is being constructed for the first time in the country’s history.
US space agency Nasa has launched its mission to send a satellite closer to the Sun than any before. The rocket carrying the Parker Solar Probe shot up into the sky from Cape Canaveral, Florida. It came after a failed attempt the previous day, when a last-minute alarm caused the agency to miss its 65-minute weather window. The probe is set to become the fastest-moving manmade object in history. Its data promises to crack longstanding mysteries about the Sun's behaviour. What will the probe do? The probe aims to dip directly into our star's outer atmosphere, or corona. It is travelling on board the Delta-IV Heavy rocket, which will hurl the probe into the inner Solar System. Analysis: Why this mission is important The probe will zip past Venus in six weeks and make a first rendezvous with the Sun a further six weeks after that. Over the course of seven years, Parker will make 24 loops around our star to study the physics of the corona, the place where much of the important activity that affects the Earth seems to originate. The probe will dip inside this tenuous atmosphere, sampling conditions, and getting to just 6.16 million km (3.83 million miles) from the Sun's broiling "surface". "I realise that might not sound that close, but imagine the Sun and the Earth were a metre apart. Parker Solar Probe would be just 4cm away from the Sun," explained Dr Nicky Fox, the British-born project scientist who is affiliated to the Johns Hopkins Applied Physics Laboratory. "We'll also be the fastest human-made object ever, travelling around the Sun at speeds of up to 690,000km/h (430,000mph) - New York to Tokyo in under a minute!" she told BBC News. Source:BBC
An aspiring presidential candidate hopeful for the opposition National Democratic Congress, Elikplim Lorlormavor Agbemava, has promised to exempt churches from paying taxes when elected to the higher office of the land. The private legal practitioner underscored the need for churches to abide by strict financial laws of the country instead of them paying taxes. He also slammed those discussing the debate based on emotions and without any concrete solutions. He called on Ghanaians to avoid being mediocre when issues are being discussed. Read his post below TAXING THE CHURCH Taxation of the Church has been a long standing issue. This does not mean that there aren’t solutions to the debate where the competing interests are addressed. The state wants to assure itself that the money being deposited with the mega churches each Sunday does not find its way into private pockets without any social impact. The churches are adamant that such funds are for God and must remain so. The state must not touch the anointed cash. The solution has been that in America and the United Kingdom the churches are made to register as charitable organizations that are tax exempt. The tax exemption however is not without responsibility. The obligation and duty placed on the churches for the exemption from paying tax is their commitment to a strict regime of regulation and financial reporting on what charitable causes they engage in annually. EVERY GHANAIAN CHURCH THAT HAS BRANCHES IN THE US AND UK comply with these laws without the hue and cry generated in Ghana each time the issue of tax is raised. All the so called big churches have branches in Europe and America and they comply with the financial reporting laws. Further I cannot believe that our government and it’s officials do not know that the issue of taxation of the Church is a give and take and one that has been successfully addressed in other jurisdictions who we can easily, I mean, easily learn from. The current proposal to tax churches without an addition that they will be committed to financial reporting and charitable targets really beats my imagination. Are we that daft or we just playing the usual gimmick of toying with the emotions of the people of Ghana without any concrete action being taken? Let’s stop this mediocre approach to nation building and do something concrete and honest for the people. The churches will be exempted from tax when I am president but they will have to comply with strict regimes of financial reporting and meet verifiable social responsibility targets.
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