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Rainbow Radio - Items filtered by date: Sunday, 22 October 2017
A regular listener of Rainbow Church, Kingsley Mensah, (not original name) has confessed on the show that he has been able to put a stop to masturbation which he was addicted to for 8 solid years. The caller told Agyemang Prempeh that, he started masturbating after witnessing some hotel guests' have sex in a hotel his uncle operated. The caller confessed that on the day he first masturbated, he was asked by the uncle to manage the hotel in his absence for him. According to him, he peeped through the guests’ door when they were having sex on that fateful day and since that day, he has masturbated for eight years. He called into the show today [Sunday] and confessed that he’s been able to stop the act and since last week Sunday, he has not masturbated again.   The host prayed with him and thanked God that he [listener] has been able to stop masturbating.   The young man in his early twenties, was also grateful for the support and prayers and thanked the host for using his show to transform the lives of listeners.
Published in General News
President of the Institution of Engineers, Rev. Dr. Ing. E. O Ankrah says, the one-district-one-factory, and one-village-one-dam,will fail without the key role of  engineers.   He indicated in an interview that, engineers should be creative, innovative so they can create more jobs.           ‘’Engineers are people who have to create jobs. Engineers have to come out with jobs. They have to create jobs. The one-district-one-factory relies mostly on engineers. The one-district-one-dam relies mostly on engineers. They have to stand-up and come and show that, they can do the job because they will handle manufacturing, construction, machines, and production,’’ he said.       He also disputed suggestions that engineers in Ghana are incompetent.       The institution also appealed to government to consider allocating about 20-30 percent of the district selected for the various projects to Ghanaian machinery and equipment manufacturers so they can also use their innovative skills to equip others.       He made the appeal when some 80 new individuals were inducted into the institution as engineers.
Published in General News
  The much talked about boxing bout which started as rampant rumor in Ghana far back 2014, between Braimah Kamoko affectionately called Bukom Banku and Bastie ‘’The Beast’’ Samir has finally come to a close last night.   The bout which was  staged  at the Bukom Boxing arena, witnessed Banku's first defeat in his carrier. The " MAKE OR BREAK" bout should have been staged on September 30, last month but was rescheduled to  October 21, 2017 by Box office promotion for television contract arrangement Mr Alex Ntiamoah-Boakye, the CEO explained. Both boxers in the first round and early minutes of the bout gave boxing fans in the arena and viewers across the globe, the signal that they were in the ring to excite them. But the power and the aggressiveness of the knockout specialist Bastie Samir made Banku to visit the canvas after several punch combination and a heavy right hand, by Bastie. Bukom Banku, after the knock down in round two came back strongly in four and five to impress his enormous supporters from Bukom who were there, in their numbers to cheer him up, failed to suppress the smart movement and the boxing skills exhibited by Bastie and his Conner men led by one of Ghana's boxing technical brains, Coach Ofori Asare. The knockout pugilist Samir, resumed his dominance and brilliance in the fight again from round six by jabbing and landing which slow down Banku in a round Braimah Kamoko promised his fans to stop Bastie Samir. The seventh round was of no exception as Bastie, continued his chase for a knockout victory over his rival opponent- till Kamoko had a cut in the low corner of the eye brow which made referee Frederick Ghartey,  stop the fight for quick medical examination from GBA medical officer Dr Quaye, due to the oozing of blood but was cleared to continue. Bastie in the same round, popped fire of punishment on Bukom Banku with both left and right power shots, till the big right connected with a left huck, inside the cut brought the heavier man down for the second time in the fight. Banku tried to get on his feet to at least rescue his boxing reputation but could not even coordinate his steps which left the referee with no option than to stop the fight for a technical knockout victory for hard working Bastie Samir.   Bastie now improves his fighting records to 17 flights, 16 wins, 1 draw, 1 win by unanimous points decision and 9 of his knockout victory came in first round and others in earlier stages.
Published in Sports
Introduction An issue under current discussions is whether Ghana should add the ESLA-backed Energy Bond it is to issue to public debt, instead of remaining on VRA’s Balance Sheet. ESLA means Energy Sector Levy Act, 2015(Act …). Ghana has issued an ESLA Bond Prospectus and roadshows are underway for investors at home and abroad. We understand that the IMF takes a public debt view for the impending 5th ECF Program Review. Our opposing view is that, even if this multilateral view prevails, Ghana should keep to plan and not classify such bonds or loans as public debt in the Public Accounts sent to Parliament—provided we continue to take certain concrete steps under the new debt management policy. As noted later, we have precedent as guide but good reason to forcefully argue against this retrogressive step since the bond is backed by a special levy imposed by Parliament. In the other instances, in our medium-term plan for debt sustainability, we are using our oil revenues to set up appropriate financial market structures and instruments. An example is the use of the Sinking Fund to partially take off the 2007 Sovereign Bond.The better option, which we did with the earlier 2016 ESLA loan, is to assist Ghana to consolidate the verifiable steps it is taking to classify such Bonds as “contingent liabilities” that crystalizes upon default. If we do not issue an ESLA Bond in excess of revenue estimates from the levy—current debt service flows that must add to escrows—the levy is an implicit guarantee by taxpayers and power consumers. Hence, if the Bond is made a pure public debt, it add an explicit (sovereign) guarantee dimension that leads to its over-securitization or extreme state undertaking. In technical terms, it is “double counting” since, even if the Bond value exceeds the ESLA and other proceeds, in computing our Debt Sustainability Analysis (DSA), the multilaterals mustadd only proportionateexcess amount to public debt until we default. Why we had to enact ESLA The Government took the ESLA Bill to Parliament to (a) raise funds to pay energy-sector SOEs debt, notably for VRA; (b)minimize the non-performing loan (NPL) impact of such debt on domestic and foreign banks as well as suppliers; and (c) improve the Balance Sheet of the SOEs to enable them play their envisaged future roles in an oil-and-gas era. These roles include stable power supply and, in particular, meeting their financial obligations to banks and independent power producers (IPPs) under the World Bank Partial Risk Guarantee (PRG). We must stress that the PRG isan alternative to a sovereign guarantee and“contingent liability”backed by our IDA resources. Hence,the guarantee will be recalled—implying use of those IDA resources to settle any default—when the SOEs fail to collect the bills for power consumed to pay for gas supplied from the Sankofa Fields. We also note that the Millennium Challenge Corporation (MCC) Compact II is complementaryin enabling ECG and downstream energy SOEs meet their PRG and otherobligations for power suppliedby VRA, GhanaGas and private sector IPPs such as Sunon-Asogli. We note further that the weak SOE balance sheets are due to unpaid subsidies for power consumed and operational inefficiencies that must be resolved in ongoing restructuring plans. While the subsidy conundrum is not new, the related outstanding SOE debt from unpaid direct loans and letters of credit (LCs) continue to weigh heavily on domestic banks as NPLs. Suppliers also threaten to call on explicit (e.g., promissory notes) or implied (i.e., shareholder) guarantees for unpaid bills for gas supplies. The two-and-half years disruption in gas supply from Nigeria had worsened the situation. We must be aware of precedents When we entered the ECF program in 2014, the IMF mission insisted that BOG must “sweep” the Sinking Fund(set up with flows from the Stabilization Fund under the PRMA) into the Consolidated Fund for general use and to reduce the budget deficit. Ghana argued that the opposition to the Sinking Fund and the Ghana Infrastructure Investment Fund (GIIF)means we museuse our oil revenues for consumption and not to manage ourdebt and improve infrastructure. To date the Sinking Fund (i.e. asset) is technically a negative “budget-financing” or “deficit-reduction” item, not a verifiable asset (cash) or reserveused to offset total Public Debt (i.e., liability) in the Public Accounts prepared by the Controller. Our plan is to change this non-accounting classification by coding our debt stock and flows in the Chart of Accounts (COA) under the Ghana Integrated Financial Management System (GIFMIS) reforms. Secondly, the US$ 1.0 billion Sovereign Bond (liability) issued in 2015 was never off-set against public debt in the DSA even though it is still “guaranteed’fully by the World Bank. The full amount was also deposited in a verifiable BOG account (asset) in a New York Bank since we undertook to use theentire proceeds to refinance or replace existing debt. Hence, until we completed the refinancing in 2016, our public debt was “grossed-up” or inflated by the value of the Bond. This double-counting is the result of not treating the debt as a contingent liability that should crystalize only upon misapplication of the fund—considered to be remote because of the New York escrow account. This extreme “developing country” approach to “grossing-up” debt—a form of single-entry or cash basis accounting—violates the rules which households, businesses, and(middle-income and advanced) countries use to prepare Balance Sheets—incidentally, under the IMF Government Fiscal Statistics (GFS) rules for preparing government accounts.Given Ghana’s enduring MIC status, it should be encouraged to continue with its adoptionof the alternative accrual accounting approach, as best practice and structural change under the International Public Sector Accounting Standards (IPSAS) that the Controller, Auditor-General and Institute of Chartered Accountants, Ghana (ICAG) have all approved. The way forward for Ghana We strongly propose that, whatever treatment the multilaterals give to the ESLA-backed Bond, Ghana should continue to create the necessary “asset” accounts to move our debt methodology to an accrual or “contingent liability” basis. This “smart borrowing” approach will require that we persist in allowing the oil revenue flows into “asset” accounts such as the Sinking Fund, Debt Service Reserve Accounts (DSRA), GIIF,ESLA and other Escrows. Secondly, some of the Escrow accounts fall under the “self-financing” rule that requires thatwe use flows from SOE and other commercial projects to pay service direct and guaranteed loans for such projects.We must resist the temptation of diverting these debt and infrastructure accounts into consumption, especially when we get into tight fiscal situations that may be due policy misalignments or external factors that may be beyond our control, such as fall in commodity prices. Third, Parliament must make the ESLA law certain by placing a firm “sunset clause” on the levy and more firmly legislating its use to settle specific SOE debt. Another key issue is whether ESLA will last 10 or 15 years, consistent with the tenor of the Bond. It seems the delay in issuing the bond under an earlier shorter term syndicated loan may have increased the liability on the SOE books. A fourth appropriate medium-term goal is to take advantage of the additional oil flows to make the “energy” bond” as enviable as the “cocoa” bond in the future. This requires that we clarify the fiscal status of the Special Purpose Vehicle (SPV) for the ESLA-Bond, in relation to the goal of using GIIF as a sovereign wealth fund (SWF) to spearhead the commercial loan strategy for the country. Further, we must set up and strengthen the Debt Management Office (DMO) under the PFM Act, as part of the shift to accrual accounting. In line with the Chart of Accounts (COA), we must implement the codes assigned to our debt instruments and related asset or reserve accounts in the Public Accounts, under the PFM or GIFMIS reforms. This will require SOEs and CAGD to record these transactions in their books, simultaneous with deposits and disbursements at Bank of Ghana. Conclusion We are aware of the failure to build national consensus around the new debt management or “smart-borrowing” strategies, given the politics and chorus that made the “nominal” debt too deafening. This is the time to build this consensus in the national interest, given the “turnaround” in the economy as well as a potentially entrenched MIC status—that require we use part of the additional oil revenues to plan for the gradual but inevitable loss of access to concessional loans and grants. Moreover, as the IMF and World Bank admonish in other contexts, we cannot afford to be put in the category of countries that are accused of dissipating their energy resources for consumption only. It is against this background that the multilateral agencies and development partners must take our debt management strategy seriously. The right approach is to offer technical assistance to achieve this goal, as the World Bank Treasury, Commonwealth Secretariat, and IMF Fiscal Affairs Department (FAD) have been doing. This will enable Ghana correct any flaws that may exist in administering the new debt management policies—not take the easier options of continuing with cash accounting and “grossing-up” debt.   By: Seth Terkper Former Minister of Finance
Published in Business
Chief Executive Officer (CEO), of Media Excel Production, Kwesi Ernest is advocating for the preservation of works by celebrated musicians like the late Paapa Yankson, who was a highlife musician. Contributing on GH Entertainment on Rainbow Radio 87.5Fm, he said, it was about time we preserve the works of our legends so the young ones coming will learn from them. Mr. Ernest described the late Paapa Yankson as legend and had his songs used by reverend ministers to preach and win souls for Christ. He said, it is very important for us to put his archives together. His music has touched so many lives both home and abroad…Paapa Yankson whose songs were used by pastors to preach…I can tell you that, the man was indeed a legend…We should preserve the works of our late legends including Santo, the I Told You Cast and others so that our children will come and learn about them. It is important for us to generate revenue for this work. We should have them on video, audio and other formats for education purposes. We need to put this in a library form so the youth coming will learn. The youth today, are not learning, they are ignorant…We need to instill discipline into our youth and let them know that, highlife is our thing and we need to export it to the world. The young men must follow what their forefathers did and follow in their footsteps so that, one day, they will be celebrated,’’ he said. Other guest on the show including, Alfred Kwame Larbi aka DJ Oxygen, Socrate Safo, Kwame Anshong all eulogized the late highlife musician. Paapa Yankson was honoured with a state burial today [Saturday] October 21, 2017 at the forecourt of state house. The President of Ghana, Nana Akufo Addo, was also present at the funeral together with the Minister of Tourism, Arts and Culture, Catherine Afeku, President of the Creative Arts Council, Mark Okraku Mante, General Secretary of the National Democratic Congress, Johnson Asiedu Nketia. Born on 22nd June, 1944 at Winneba in the Central Region, Benjamin Paapa Kofi Yankson, started his music career as a lead singer for the Big Sound Band after completing Ahantaman Secondary Commercial School. He later joined the Carousel Seven band upon recommendation by C. K. Mann, who was the leader of the band. Paapa Yankson, was also instrumental in the formation of the Western Diamonds Band. But two years later after joining the band, he left for the Golden Nuggets Band. In 1975, he enrolled at the National Academy of Music, Winneba, to read a diploma programme in music.  
Published in Entertainment
After bragging to defeat his opponent in the sixth round in the ‘Make or Break’ bout, Braimah ‘’Bukom Bnaku’’ Kamoko has been knocked out in the seventh round by Bastie ‘’The Beast’’ Samir.   He has broken the unbeaten record of the ‘braggart’  at the Bukom Boxing Arena.       Banku came into the bout with an unbeatable record of 29 victories but Saturday’s fight saw him lose a professional bout for the first time.     Banku remained the aggressor in the third round, however, Samir had at this point found his range and sent Banku crashing into the ropes with a powerful combination.   From this point onwards, Samir began to dictate the pace of the bout choosing when to engage Banku in a flurry or simply toying with him by evading his wild punches as he sought a way back into the fight. Banku had predicted a sixth-round stoppage but the round would only be remembered for the countless number of times Samir clinched and punched his face and body at will. In the seventh round, Samir went in for the kill as Banku tired and dropped his weak guard even further. A series of unanswered punches saw the referee inexplicably jump to Banku's aid, bizarrely refusing to halt the bout as expected but instead gave him a mandatory eight-second count after he was doused with water by a fan. However, that respite was short-lived as soon after he returned Samir sent him crashing to the canvas for the second and final time with a powerful hook. He landed on his backside and showed no signs of rising to his feet, forcing the referee to save him from further punishment in the second-minute of the seventh round. For his stunning display, Samir splits a GHC 200,000 cash prize with the loser Banku but will receive an added bonus of GHC 5,000 from the Accra Mayor Mohammed Adjei Sowah.    By:rainbowradioonline.com with additional files from GraphicOnline
Published in Sports
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