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Rainbow Radio - Items filtered by date: Friday, 10 November 2017
The Eastern regional best maize farmer for the year 2015/2016, Mr. Daniel Asomani, popularly called Castro, has appealed to government to provide better markets for maize farmers. He said, just as the cocoa industry is having an enviable market, the same should be provided for maize farmers since it will help the state gain more revenue. Mr. Asomani also bemoaned the huge importation of maize from other countries when farmers in Ghana are producing same in Ghana. Ghanaians he noted are being encouraged to go into farming yet we are importing the same produce from other countries. This will discourage farmers, and deprive them the more, he lamented. If we do not stop doing this, and maize farmers don’t get a market for their produce or sell their produce, they will incur cost and may not be able to go into farming in subsequent seasons. He stressed the need for government to purchase maize produced in Ghana and stop importing same from other countries because such produce may have been kept for over 10 years in warehouses.   Maize is one of the most important staple food crop grown in Ghana that meets the nutritional needs of both humans and livestock. It is a rich source of energy, vitamins and some amount of protein.  
Published in General News
The Objective Media Forum is calling on the President, Nana Addo Dankwa Akufo-Addo to with immediate effect sack  Mr. Paul Avoka, the current Director of the Department of Community Development. The Forum among other allegations have accused the Director of running his office as ‘’one man’s’ property and also working on a UNICEF  project to his selfish interest, neglecting the core mandate assigned him.   According to the Forum, Mr. Avoka’s retirement age was due last year December 16, 2016  however, he’s has been handed an extension of two years and we [Objective Forum] believes will rather cause more harm than good.   They also alleged that, the Director brags of being an in-law to the current Minister of Local Government, Hajia Alima Mahama therefore, cannot be axed. The Forum further made reference to the Audit Service management letter on the audit of the accounts of the department for the period of January-December 2016 where they say the under the Director a total amount of GHc87,000 was allegedly disbursed on strategic planning workshop. However, the budget estimates, signed attendance list and official receipt from the hotel were not made available for audit examination.  The audit report according to them,  recommended to management to ensure that all expenditure details of the amount be made available for audit whereas the Director who was to proceed on compulsory leave on December 16, 2017 was still at post. The director who handled financial and administrative matters under the period with some others made some 465 staff contribute an amount of GHc300 each for the organization of an orientation. However, out of the total contribution of GHc139, 495.50, only GHc88, 492.00 was disbursed leaving a total contribution of GHc51,003.50 to be accounted, the Forum referred to the audit report.   Aside that, the audit also found out that the DCD did not establish Entity Tender Committee (ETC) to carry out its statutory mandate and per the recommendation of the Audit Service, the department was to take immediate steps to establish the Entity Tender Committee to ensure that all procurement activities are undertaken in accordance with Procurement Act, the Forum indicated. The Forum also referred to the failure of the director to comply with Section 30 of the Audit Service Act 2000 (Act 584) which calls for the DCD to constitute an ARIC to serve its intended purpose.   The Audit Service report according to the Forum has revealed that the director who failed to retire has received his monthly salary from January-July 2017 this year totaling an amount of GHc29,601.60 and a monthly net amount of GHc4,228.80. The Forum stressed. Mr. Avoka’s name should have gone off the payroll system automatically when he was sixty years but he continued to receive his salary every month.   The Object Media Forum is therefore calling on the president to with immediate effect relieve Dr. Paul Avoka of his post and possibly retrieve all the monthly salary paid him from his retirement month.
Published in General News
Former President John Dramani has reiterated his position on the call on him to consider running for 2020. The former President at a peace walk organized in Cape Coast few days ago, said his declaration to contest will distract the restructuring activities by the opposition National Democratic Congress (NDC). He has released a statement to restate the same position after the ten (10) regional chairpersons issued to admonish the Mr. Mahama to consider representing the party in 2020 and also embark on a ‘Thank You Tour’. But the statement which was signed by Joyce Bawa Mogtari said: ‘’The former president further repeated his earlier call on all members of the NDC to focus on the ongoing restructuring and reorganization exercise while pledging his commitment and support for the process and the Party. He also advised the leadership of the party to continue to work towards establishing a level playing field during the upcoming internal party elections.’’         Below is the full statement:   The Office of HE John Dramani Mahama wishes to formally thank the Regional Chairpersons Caucus of the National Democratic Congress (NDC) for their fraternal visit on Thursday, November 09, 2017, and also appreciate the opportunity to discuss a number of issues. Given that the former president had always wanted to thank Ghanaians for their support and cooperation during his tenure as both Vice President and President of the Republic of Ghana, and as reiterated during the meeting he will discuss the timing of the requested Thank You Tour with the leadership of the Party. On the issue of considering the request of party colleagues and supporters to lead the NDC to the 2020 Elections, HE John Mahama’s position, as stated in Cape Coast, remains that it will be premature to announce his decision whether or not to contest, in view of the ongoing reorganization efforts of the Party. He Mahama, during the meeting also stressed the need for the leadership of the Party across the structures- Branch, Constituency, Regional and National- to work towards educating supporters on the ongoing Branch reorganization activities and use the opportunity to build up the support base of the Party in the communities. The former president further repeated his earlier call on all members of the NDC to focus on the ongoing restructuring and reorganization exercise while pledging his commitment and support for the process and the Party. He also advised the leadership of the party to continue to work towards establishing a level playing field during the upcoming internal party elections.      
Published in General News
Parliament has summoned the Interior Minister before it over some police brutalities that occurred at Asawase in Kumasi in the Ashanti region Thursday night. He was summoned after the minority chip whip  and Asawase MP Muntaka Mubarak made the request.    Some two suspects who were in Police custody were shot and killed by the Police, who accused them of robbery The two suspects had reportedly been gunned down by police after they attempted to escape in handcuffs.   The legislator told Parliament that he was informed by the police that they killed the suspects after they attempted to abscond while assisting them to arrest their accomplices in criminal activities in the area.       “After the police had arrested three others, the names of the two were mentioned that they were aiding them with guns. The police went in to arrest them but after a search of their residence, they couldn’t find any guns. They had been in custody as the police tried to get information. They will lead them to an area where the police would search, but find nothing. At the fourth place they went according to the deputy minister, the gentlemen tried to abscond and were shot dead,” Muntaka said.   Meanwhile, the youth have disputed the claims that the deceased persons were armed robbers.   The MP further admonished Parliament to handle the issue since it will not be treated properly if left in the hands of the police.   “Is it the court that remanded the [suspects]? How many police went with them and what led to their death? Now the family is really devastated. I want to take this opportunity to request that the House gets the Interior Minister to come to the House, probably next week to brief the House on the circumstances to enable the House take firm decisions. I am worried that if we leave this to the police to investigate we may never get anywhere,” Muntaka added.    
Published in General News
Mr. Kofi Kukubor, a member of the National Executive Committee (NEC) of the opposition National Democratic Congress (NDC), has called on the party’s Council of elders to take “swift action” against the  ten regional Chairpersons  who have called on former President John Dramani Mahama to consider contesting the 2020 primaries.   In a statement, Mr. Kukubor wondered why the ten regional chairmen took such a move when “NEC had decided and instructed that nobody especially in line with the constitution should openly declare or endorse any Presidential candidate.”   The ten regional chairpersons in a statement after a meeting with Mr. Mahama on Thursday admonished him to embark on a ‘Thank You Tour’ to appreciate the support the party had over the past years. They also asked him to consider contest in 2020 following calls from teaming supporters and Ghanaians. However, Mr. Kukubor believes the action of the chairpersons was an act of indiscipline. In the statement he charged the party to call them to come and explain their action. Below is the statement from Mr. Kukobor:  The Indiscipline of 10 Regional Chairmen Every Regional Chairman is a member of the National Executive Committee, NEC. NEC has decided and instructed that nobody especially in line with the constitution should openly declare or endorse any Presidential candidate. NEC further subscribed to the programmes outlined towards the reorganization of which the Secretariat is in the process of releasing a press to that effect. Secondly, the Council of Elders in line with the recommended implementation programmes, announced Mr. Kwame Peprah as the head of the Monitoring group of the registration of party members. Before the secratariat could release a press, Regional Chairmen who are also members of NEC, the very decision making body that they belong to, went on air to undermine the very authority they expect members to submit to, disrespecting the office of the Chairman and Leader of the Party, and attempting to derail the work of the Council of Elders. If money is not the motivation, let these Regional Chairmen come to explain this indiscipline attitude. I strongly urge and plead that the members of the Council of Elders meet immediately to take swift action on this gross indiscipline of Party Chairmen if they want to see this great party survive into the far future. Shalom Kofi Kukubor NEC Member  
Published in General News
The Finance Ministry has reacted to the press conference held by the Minority in Parliament over the issuance of the Energy Bond.   The Minority described the bond as ‘Energy Bomb’ and hinted of hauling the Minister before Parliament to answer questions on the bond.     Read the full statement of the Finance Ministry below. RESPONSE TO THE NDC’S PRESS STATEMENT ON THE ESLA BACKED ENERGY BOND The Ministry of Finance takes notice of the Statement by the NDC Minority in Parliament making various unsubstantiated claims about the recently issued Energy Sector Levy Act (ESLA) backed energy bond. The Ministry as the ‘Sponsor’ of the GH¢10 billion Bond Programme, hereby responds to the Minority’s claims as follows: 1.  Intellectual Dishonesty: The Minority’s statement is fraught with various factual untruths which appear to be deliberately spun to allow them to reach their own preferred conclusions: ·         First, the claim that the 7-year bond closed at GH¢1.5 billion is not accurate. Published information by E.S.L.A. PLC indicates that the 7-year bond was oversubscribed at GH¢2.53 billion. E.S.L.A. PLC chose to accept GH¢2.4 billion at the cut-off interest rate of 19.0%; ·         Second, the claim that the 10-year bond was first closed at GHC760 million again is false. Bids received in the first week amounted to GH¢872 million and not GH¢760 million as claimed by the minority. This information is public and verifiable; ·         Third, the minority claims the 10-year bond after extension closed at GH¢2.2 billion. Again false. Total bids received for the 10-year bond was GH¢2.79 billion of which E.S.L.A. PLC accepted GH¢2.29 billons at an interest rate of 19.5%. In all E.S.L.A. PLC received Bids of GHC 5.32 billion (GH¢2.53 billion for the 7-year and GH¢2.8 billion for the 10-year), representing 89% of the targeted amount of GH¢6 billion for the first tranche under the Bond Programme.  E.S.L.A. PLC chose to accept the total amount of GH¢ 4.70 billion out of a possible GH¢5.32 billion; representing 78% of the targeted amount as this was what it preferred within its target price range of 19%-19.5%. Making a decision based on a cost/yields consideration, is prudent and not a failure. To claim that the issuance was a failure, is to be intellectually dishonest, if not mischief. 2.          Justifying Assumptions The minority again claimed that the projected consumption of petroleum products, used as a basis for projecting ESLA inflows was unrealistic. This was based on their assumption that monthly fuel consumption is equal through-out the year. Historical data on consumption patterns however prove that this is a flawed assumption. Fuel consumption in the second half of the year is often higher as a result of increased economic activity and seasonal weather patterns. E.S.L.A. PLC’s projected consumption of petroleum products is accurate and conservative and remains in line with historical patterns. 3.          Explaining Debt Service Coverage Ratio The Minority claim that E.S.L.A. PLC could not meet the Debt Service Coverage Ratio (DSCR) of 1.25% but rather scored 1.1% DSCR. They arrive at the 1.1% by dividing the expected inflows from the Energy Debt Recovery Levy of GH¢1.281 billion by GH¢1.158 billion in total interest payments for both the 7-year and 10-year bonds (i.e. 1.281/1.158 = 1.1) The Minority however, did not recognize the addition of GH¢600 million GoG cash support (to be provided on demand) component, as stated in the prospectus, to the GH¢1.28 billion. They also did not add the starting cash of GH¢ 350 million in the Energy Debt Recovery Levy(EDRL) Account. It is instructive to note that the addition of the two missing components in the Minority’s assumptions, gives a total amount of approximately GH¢2.231 billion making the ratio now 1.926% (2.231/1.158). This is far greater than the required 1.25% DSCR. The Minority either did not fully understand the assumptions underlying the structure and thus failed to do the math right or was just being plainly malicious. 4.   The Subject of a Confusing Structure The NDC claim that they found the structure of the transaction complex to understand. They further assume that because they found it complex to understand, others must also find it complex. The good thing is that the investors for whom the bond was meant understood it and that is why they patronised the bond with bids of up to GH¢5.32 billion of the targeted GH¢6 billion bid cover ratio. Their claim that ESLA is government revenue and that an ESLA backed bond must be treated as sovereign debt is incorrect. ESLA proceeds do not commingle with the consolidated fund and thus, cannot be treated as government revenue affecting GoG fiscals. An E.S.L.A backed bond can equally not be treated as government/sovereign debt. It is surprising that the former Finance Minister under the NDC, Hon. Seth Terkper shares this view and yet the Minority refuses to listen to him. It is also unbelievable how the Minority would want this debt to be considered part of government debt, when in 2016, the same NDC government restructured about GH¢2 billion debt owed commercial banks under ‘the VRA Phase 1 Restructuring Program’ using ESLA proceeds as a payment source. If ‘VRA Phase 1’ and TOR debt restructuring were deemed prudent at the time by the NDC and treated as a non-sovereign transaction, why not the E.S.L.A. PLC’s Bonds? The inconsistency in the opinions of the Minority NDC is baffling. 5.          Parliamentary and Constitutional Breach The Minority in their Statement also claim that the transaction was unconstitutional as it did not have a parliamentary approval. ·         First, it is curious that the Minority fails to tell us which aspects of the constitution or parliamentary standing orders or procedures that have been breached here. The mere mouthing of unconstitutionality does not create an illegality. ·         Second, Parliament gave approval for this bond issuance program when it approved the 2017 Budget and Economic Policy which in paragraph 805 outlined this program. Again, in paragraph 74 of the 2017 Mid-year review the Finance Minister announced our readiness to execute this deal. Further, section 61 of the Public Financial Management ACT (which was incidentally passed during the tenure of the NDC) gives the Minister power to execute this transaction by auction. This transaction required no second layer of Parliamentary approval. ·         Third, this bond is not an International financial transaction as envisaged by the constitution. Both the 7-year and 10-year bonds were domestic bonds and do not require Article 181, clause 5 approval approval unlike the Eurobonds. 6.  Causing Financial Loss Can the Minority be bold and indicate how the financial loss arises? This is missing in their statement. The mere mouthing of the claim that government could have gotten the bond issued at 2% lower does not legitimize that claim. What is the empirical basis? The minority fails to state it. This transaction by E.S.L.A. PLC causes no loss to the State. Conclusion The Ministry re-iterates its congratulations to all who assisted with this groundbreaking transaction and shares in the view that this was a very successful and landmark transaction; the largest corporate bond issuance in Sub-Saharan Africa. The Ministry of Finance under this Government, will continue to pursue measures to assist in resolving the challenges in the Energy Sector that it inherited, including the over GH¢10 billion worth of legacy debts and other obligations, dumsor, unreliable and intermittent power supply, high tariffs and non-performing loans within the banking sector that is threatening to cripple the banks (due to energy sector legacy debts). We hope we can count on all Ghanaians and other stakeholders for their support and encouragement as we continue to tackle this challenges head on.     
Published in General News
The chairman of the business committee Hon Osei Kyei Mensah Bonsu has presented to the house business scheduled for the upcoming week.   The legislator after presenting the schedule, advised all members to avail themselves during the week since the minister for finance is expected to appear before the house on Wednesday, November 15, 2017 to present the budget statement and economic policy of the government for the year ending 31st  December 2018.   Post budget workshop   The  Majority Leader and Minister for Parliamentary Affairs has also informed members of a post budget workshop for leadership, Chairpersons, vice chairpersons, ranking and deputy ranking members of committees with oversight over the ministers,  department and agencies and the respective committee clerk.       He told members that, the post budget workshop is expected to be held at Capital view hotel on Friday the 17th of November 2017. By: Naa Darkuah Dodoo
Published in Business
Africa’s best police service is that of Botswana despite being ranked 47th best in the world. This is according to the World Internal Security and Police Index (WISPI) released by two bodies, the International Police Science Association (IPSA) and the Institute for Economics and Peace (IEP).   The index ranked the Rwandan police as Africa’s second best (with global position of 50th) followed by Algeria (58th), Senegal (68th) and Tunisia (72nd) in that order. Completing the top 10 for Africa were, Egypt, Burkina Faso, Ghana, South Africa and Mali respectively. “WISPI measures the ability of the police and other security providers to address internal security issues in 127 countries, across four domains, using sixteen indicators,” authors of the report stated. The four domains are, capacity, process, legitimacy and outcomes. The index ranked the Rwandan police as Africa’s second best (with global position of 50th) followed by Algeria (58th), Senegal (68th) and Tunisia (72nd) in that order. Completing the top 10 for Africa were, Egypt, Burkina Faso, Ghana, South Africa and Mali respectively. “WISPI measures the ability of the police and other security providers to address internal security issues in 127 countries, across four domains, using sixteen indicators,” authors of the report stated. The four domains are, capacity, process, legitimacy and outcomes. Despite the failure of Africa to break into the top forty, the continent was very prominent in the lower rankings. Six African countries were in the bottom 10. Cameroon and Mozambique in the 120th and 122nd spots. Uganda, Kenya, the Democratic Republic of Congo (DRC) and Nigeria made it an African quartet at the bottom – occupying 124th to 127 slots respectively. At the top of the global rankings, Europe dominated with eight countries. Except first place Singapore and Australia in sixth spot, all the other countries were in Europe – Finland, Denmark, Austria, Germany (2nd – 5th), Netherlands, Norway, Sweden and Switzerland (7th – 10th). About the World Internal Security and Police Index (WISPI) The aim of the WISPI is to, firstly, measure security provider performance across the four domains of internal security: capacity, process, legitimacy and outcomes. Secondly, to see how these domains relate to each other and finally to track trends in these domains over time, and to inform the work of security providing agencies, researchers, and practitioners in the field of peace and conflict studies, criminology, and police studies.   Source:Africannews.com
Published in General News
The National Democratic Congress (NDC) has issued a statement cautioning aspiring candidates against the vilification of other opposing aspirants. The statement which was issued by the Functional Executive Committee (FEC) and signed by the party’s chairman, Kofi Portuphy of the NDC said it has observed that “some potential aspirants and their followers have resorted to insults, and vilification of potential contestants.” The statement added that “This abuse takes place, at times in a highly toxic manner on social media and sections of the media.” The statement reminds all potential hopefuls, aspirants and their affiliates, as well as all party followers, that such acts constitute ‘anti party conduct', “and at the same time destroy the cohesive unity of the party. “Such conduct seriously undermines the painstaking efforts by Council of Elders and the NEC to reorganise the party,” the statement said. The FEC reminds all party faithful that the NDC’s internal electoral processes that allow members to engage in campaigns and other political activities have “NOT yet been officially launched”. The party is actively working on various programs and guidelines to ensure an equitable playing ground to enable credible electoral process towards successful primaries being held at all levels of our party, the statement said     The statement further admonished party members to  participate in the on-going registration exercise to enable the party re-establish a solid foundation, including the massive grass root base to recapture power in the 2020 elections.
Published in General News
Kwabena Mensah son of the late Samuel Tetteh aka Allebey, the commercial driver who was allegedly murdered by some land guards, at Opeikuma a suburb in Kasoa of the Central region, has revealed on Rainbow Radio 87.5Fm that, the suspects made an attempt to kill him. Narrating his ordeal to Kwame Tutu on Rainbow Radio 87.5Fm, he said the suspects broke into his room in his absence in an attempt to kill him.   According to him, because he saw the faces of those who murdered his father, they wanted to kill him and the driver’s mate. He said, after they broke into my room in my absence, they also broke into my father’s mate room to also kill him because he also saw their faces. Two of the suspects on reportedly boarded the deceased’s vehicle on Tuesday and upon reaching their destination decided to alight without paying the lorry fare. This resulted in a heated argument between the driver and the suspects. The suspects were said to have informed their colleagues numbering about 12 over what happened. They reportedly stormed the driver’s residence attacked with blocks and finally stabbing him. The group also damaged deceased 207 benz vehicle in the process.   Kwabena Mensah stressed, the negligence of the police caused his father’s death because his brother rushed to the police station immediately the land guards started attacking his father however; the police did not attend to him but rather gave him a medical form to take his deceased father to the hospital. Meanwhile, two suspects have been arrested by some angry youth in the area and handed over to the police.   He further revealed, some residents went to report to the police that, a suspect had broken into the room of his late father’s mate and so they should come and arrest him but the police declined and rather asked the youth to go and arrest the land guard and bring him to the police station.
Published in General News
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