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Rainbow Radio - Items filtered by date: Thursday, 19 July 2018
The Ghana Boxing Authority (GBA) has issued a statement to celebrate boxing legend Prof Azumah ‘Zoom Zoom’ Nelson as he marks his 60th birthday today [Thursday] July 19, 2018. The birthday note which was signed by GBA’s Communications Director, Naa Darkuah Dodoo, described the boxing hall famer as the greatest boxer to have come out of Africa. The GBA said: ‘’ GBA salutes Professor Azumah Nelson on 60th birthday... wishes Rafael Mensah Success. The Ghana Boxing Authority (GBA) is very much thankful to the Almighty God who knows it all and has made our boxing professor to live to hit his 60th birthday. Without doubt African’s greatest boxer Azumah Nelson has been inducted into the boxing hall of fame, received many awards and acknowledgements from the world’s premier boxing sanctioning body- The World Boxing Authority (WBO) among others. The biggest milestone falls on July 19, and would be officially celebrated with a special edition Azumah Nelson Fight Night at Ghana’s main boxing promotional address, the Bukom Boxing Arena on July 21. The GBA has already bestowed the Greatest and Best Super Featherweight of all times honour on Azumah. Information reaching us says Nicaraguan, Alexis Arguello, is expected to send a team to Accra to present the accolade, a release from the legend’s promotional syndicate has revealed. The three-time world boxing champion assumed legendary status in his homeland Ghana and globally when he dominated the super featherweight division as a champion for 10 years. He was subsequently inducted as the first African into the International Boxing Hall of Fame in the year 2004. Azumah Nelson, a respected statesman in his native country, Ghana, also established Azumah Nelson’s foundation to help the young to realise their potential through education and sport.’’ Read the full birthday note below: GBA salutes Professor Azumah Nelson on 60th birthday... wishes Rafael Mensah Success. The Ghana Boxing Authority (GBA) is very much thankful to the Almighty God who knows it all and has made our boxing professor to live to hit his 60th birthday. Without doubt African’s greatest boxer Azumah Nelson has been inducted into the boxing hall of fame, received many awards and acknowledgements from the world’s premier boxing sanctioning body- The World Boxing Authority (WBO) among others. The biggest milestone falls on July 19, and would be officially celebrated with a special edition Azumah Nelson Fight Night at Ghana’s main boxing promotional address, the Bukom Boxing Arena on July 21. The GBA has already bestowed the Greatest and Best Super Featherweight of all times honour on Azumah. Information reaching us says Nicaraguan, Alexis Arguello, is expected to send a team to Accra to present the accolade, a release from the legend’s promotional syndicate has revealed. The three-time world boxing champion assumed legendary status in his homeland Ghana and globally when he dominated the super featherweight division as a champion for 10 years. He was subsequently inducted as the first African into the International Boxing Hall of Fame in the year 2004. Azumah Nelson, a respected statesman in his native country, Ghana, also established Azumah Nelson’s foundation to help the young to realise their potential through education and sport. The turning point in Azumah’s career occurred in June 1982, when he was handed an opportunity to fight Salvadore Sanchez for the WBC featherweight title. It was a tough bout and the young Ghanaian during that era lost in the 15th round. But his spirited performance against the better established Mexican-born world champion impressed the decision makers of the sport a great deal such that he was given other opportunities. Two years after the Sanchez episode, Azumah Nelson rose to the occasion and defeated Wilfredo Gomez to win the WBC featherweight title. Going to 60 the legendary Azumah Nelson has ventured into promotions in addition to social work, in addition to his private business interests. Azumah, nicknamed the Professor, has received the WBC Champion Award at the sanctioning body ‘s 55th Convention in Baku, Azerbaijan. The 60 milestone edition of the Azumah Nelson Fight Night code named ‘’The battle’’ takes will be a five-fight bill. Hard-hitting WBA International Super Featherweight Champion, Wahab Oluwaseun, a.k.a Suenzy will take on Togolese Mouibi Sarouna (Togo Warrior) in a contest, while Abraham ‘No Shaking’ I Bonsu will slug it out with Patrick Ayi, The Aligator for the Ghanaian Super Featherweight Championship. Benjamin Lamptey (Daddy Lumba) and sheriff Quaye (One Time) clash for Ghanaian Light weight Championship with Micheal ‘One Bullet’ Ansah will fighting Isaac Dowuana the Zongo Fire in the final eliminator for the Ghanaian Super featherweight title. Emmanuel ‘Kwahu Tyson’ Danso will battle Stephen Abbey a.k.a Anero in the Super Middleweight contest. The Azumah Nelson fight night is supported by GeoDrill Ghana, Ashfoam and GOIL. On this occasion, the GBA deems it fit to salute you and say HAPPY BIRTHDAY. Meanwhile we also wish Rafael Mensah who fights in the USA in his hunt for WBA Super featherweight title. Rafael Mensah is undefeated in 31 fights, while Alberto Machado has a record of 19 wins, no defeat with 16 knockouts. Eyes of boxing, in the world would be focused on Ghana and the Ghanaian who is hungry to add to the nation’s world champions. As the administrators, managers and operators of the sport in Ghana we pray for success. From GBA Communications Signed Naa Darkuah Dodoo.
Published in Sports
Veteran actress, Grace Omaboe has slammed individuals speculating on social media that she has passed on. The actress speaking in an exclusive interview with Afia Kwarteng, Rainbow Radio’s Parliamentary correspondent dispelled the rumours and insisted that she is still alive. The actress, philanthropist and a woman who stood for women empowerment said she will live up to 110 years. According to her, her late mother was 105 before she passed on to eternal glory and by the grace of God she will live up to 110 years. ‘’I am not dead as being speculated on social media. I am still alive. It is unfortunate that people are speculating that I am dead. My late mother was 105 and in the name of Jesus, I am adding 5 more years to her age. I will live up 110 years before I die,’’ she prayed. The actress was speaking to our reporter after the presentation of the 2018 mid-year budget review presented by Finance Minister Ken Ofori-Atta in Parliament on Thursday. Grace Omaboe who is popularly called Maame Dokono said, she came to witness the budget presentation due to the rumours of an increment in the Value Added Tax (VAT). ‘’I was worried when I heard VAT was going to be increased. But after the review was presented, I was happy because the minister disputed the increment.’’ She described the budget review as a good one considering measures government intends to adopt to stabilize the economy. The actress when asked if she was active as a practitioner said, she is no longer producing films but once while accepts to play roles in movies but ''I will soon retire from active work.''
Published in Entertainment
Some aggrieved Zongo youth of Asawase numbering over 50 in Kumasi today [Thursday] staged a demonstration in protest against the killing of some suspected armed robbers some few days ago. The angry youth who reported set use lorry tyres on fire at the Asawase police station demanded an end to what they called shoot to kill of suspected armed robbers. Three of the suspects have been identified as members of the ruling New Patriotic Party (NPP) and their family members have demanded for independent probe into the matter. War songs are being chanted while road blocks have been mounted in front of the mosque, Rainbow Radio’s Kwabena Amoateng reported. But the police on Wednesday said the ‘robbers’ had exchanged fire with them. The situation has engendered tension in the Asokore Mampong municipality. Brother to the deceased Musah Abubakar speaking an interview with Kwabena Amoateng cursed Ashanti police command with a Quran. He is demanding for an immediate withdrawal of the claims by the police that the deceased persons were armed robbers. ‘’The police should redraw the statement with immediate effect. We will not accept the excuse. The persons they killed were not robbers. We will not allow them to treat us in this inhuman manner. We will not accept this but we will not also take the law into our own hands. We will however, match the police boot for boot. We are using the Quran to invoke curses on them, if the deceased persons were robbers then they are free but if they were not robbers and have been killed, then may God deal with the killers. We have been asked not to engage in any lawlessness but tempers are rising, people are angry and grieving in pain due to the killing of our brothers. We are asking God to deal with them. I pray the anger and wrath of God come upon the police who killed our brothers. We will not rest until justice is served. We are asking the president and all his appointees to intervene. We want the truth to be unraveled. We want justice served and all those implicated dealt with.’’
Published in General News
%PM, %19 %753 %2018 %17:%Jul

MID-YEAR BUDGET REVIEW-FULL STATEMENT

The Finance Minister, Ken Ofori-Atta has in accordance with the Public Management Act, Act 2016 (Act 921) present before Parliament the mid-year budget review. The Minister commended legislators for the continued cooperation and support of in the management of the economy since the New Patriotic Party (NPP) assumed office in January 2017. He said: ‘’It is our fervent wish that this cordial relationship between the Executive and Parliament continues to promote the attainment of our collective development aspirations and goals.’’ One major highlight of the budget was the response to the speculations that flew in the media and on social that Value Added Tax (VAT) was going to be increased from 17.5 percent to 21.5 percent. But the Minister today dispelled the speculations saying: ‘’I wish to assure the House that VAT will not be increased. I would like to advise our friends in the opposition that they should stop taking direction on the economy from Social Media.’’
Published in General News
Beneficiaries of the School Feeding Programme have been increased to 2.1 million. The number has increased from 1.6 million to the current figure, the Finance Minister Ken Ofori-Atta announced when he presented the 2018 mid-year budget review today [Thursday]. ‘’A total of 2,174,000 kindergarten and primary school pupils compared with the 1,671,777 pupils recorded in 2017, are benefiting from the programme. The difference of 501,536 additional pupils represent a 30 percent increase,’’ he announced. Aside the increase in beneficiaries, the National School Feeding Programme engaged 8,000 new caterers and introduced new caterer contracting guidelines which require caterers to purchase food items from local farmers and fishermen. The Programme was allocated GH¢423,795,500.00, out of which GH¢229,310,000.00, representing 54.11 percent has been released.
Published in General News
Ghana’s immediate past Finance Minister, Seth Terkper has said, the decision by government to remove the 2.5% National Health Insurance Levy and the 2.5% GETFund from the Value Added Tax (VAT) and make them specific rates is a ruse. The former sector minister in write up following the presentation of the 2018 mid-year budget review by Ken Ofori-Atta, the current minister said the decision by government is a VAT increase in disguise. Days before the presentation, speculations were rife about a possible increment of VAT from 17.5 percent to 21.5 percent. The speculations were met with varied views from the general public and the minority held a press conference to that effect. However, presenting the mid-year budget review, the minister disputed the speculations. He said, ‘’I wish to assure the House that VAT will not be increased. I would like to advise our friends in the opposition that they should stop taking direction on the economy from Social Media.’’ However, the former minister who once occupied his position has reacted saying: ‘’Ghana’s VAT rate is 17.5 percent and that includes NHL (2.5%) and GETFund (2.5%). Removing them from the VAT base and making them specific rates (instead of valorem) and increasing that rate to earn more revenue (quoting Hon Kwarteng) is a ruse. It is a VAT increase in disguise. Businesses should not rejoice yet because they cannot claim Input Tax Credit/Funds on 5% of the current 17.5 percent rate. Already, the Flat Rate is denying some registered businesses refunds and Input Tax Credit. The measure amounts to a parallel Sales Tax regime that the VAT replaced. It is a retrogressive step and further mutilation of the VAT regime.’’
Published in Business
Ghana cedi has been relatively stable even though there has been volatility in the past 6 weeks, Ken Ofori-Atta, the Minister in charge of Finance has stated. In his presentation of the mid-year budget review, the minister told parliamentarians that, over the past few months, Government has improved the fundamentals of the economy to stabilise the currency. ‘’This is evidenced in the positive trade balance, improved gross international reserves, declining public debt to GDP, and better liability management of the public debt. 114,’’ he added. According to the Finance Minister, the Cedi was stable in the first quarter of 2018 with a slight year to date depreciation in April in relation to the US Dollar. However, in May and June we saw pressures on the Cedi from a strengthening US Dollar and oil prices among others, which weakened the performance of the Cedi. But the fundamentals of the economy remain strong and BoG has built sufficient reserves due to the country’s trade surplus and strong portfolio inflows and are taking measures to stabilize the Cedi, reduce inflation and interest rates, he said. Government he noted will take the necessary measures to strengthen institutions to enhance transparency, address issues of parallel quotes to avoid speculation and reduce information asymmetry in the forex market.
Published in Business
Prophet Emmanuel Badu Kobi, has been honored with another doctorate degree award by the Confederation of Governance Assessment Institute (COGAI) in partnership with Bureau of Research on Governance, Commerce and Administration (BORGCA). The ceremony took place over the weekend in Ghana at the Bank of Ghana Auditorium of the University of Ghana, Legon. Prophet Kobi received the Pan African Prestigious Honorary Doctorate Degree Award in recognition of his prophetic ministry. Conferment by Alfred Nobel University, Pernopil State Economic University and Vinnitsya State Pedagogical University under the auspices of Ministry of Education Ukraine. Other awardees were Dr. KK Peprah and Sheik Dr Kalifu. According to the organizers, their research, assessment and selection committees have considered some selected individuals under their watch to unveil their excellent performance to the general public hence the awards. Founded by Prophet Dr Emmanuel Badu Kobi 18 years ago, Glorious Wave Church is located at Sakumono Estate, behind Cable Gold building with the mandate of changing lives of people.
Published in General News
Government’s expenses on compensation of employees have exceeded the programmed target. A total of to GH¢8,141.2 million was spent on compensations a figure which exceeded the projected target by GH¢133.9 million or 1.7 percent, of this amount, expenses on Wages and Salaries amounted to GH¢7,131.6 million, 4.1 percent higher than the programmed target of GH¢6,852.0 million and accounting for the overage in Compensation of Employees. The reason for the slippage is attributed to budget overruns recorded by the Ministries of Education and Health, the Finance Minister Ken Ofori-Atta told Parliament when he presented the mid-year budget review. Meanwhile, corrective measures such as the complete roll out of the HRMIS are being employed to ensure that the excess are curtailed in the second half of the year, he assured the House. Similarly, expenses on the use of Goods and Services which amounted to GH¢1,627.0 million was about 9.0 percent higher than the programmed target. The slippage is mainly attributed to front-loaded expenditures including those for the purchase of fertilizer for the Planting for Food and Jobs programme. These overruns are not expected to recur in the second half of the year. Total expenditure (including arrears clearance) amounted to GH¢23,756 million (9.8% of GDP) and constitutes 38.3 percent of the annual 21 budget target. Although, the outturn was 3.2 percent lower than the programmed target of GH¢24,553 million, moderate slippages were observed in the Wage Bill (GH¢279.6 million) and Goods and Services (GH¢134.1 million). Interest Payment remained within the programmed target for the period but is expected to pick up, given the impact of the bond issued by government on behalf of GCB Bank on the Purchase and Assumption of UT Bank and Capital Bank. 89. Mr. Speaker, Grants to Other Government Units, comprising transfers to Statutory and Earmarked Funds such as the National Health Insurance Fund (NHIF), the Ghana Education Trust Fund (GETFund), the District Assemblies Common Fund (DACF), among others, remained lower than the programmed target mainly on account of lower tax revenues and reported IGF retained by MDAs. Total CAPEX, comprising Domestically Financed CAPEX and Foreign Financed CAPEX was 39.6 percent lower than target. Although Domestically Financed CAPEX was below target, it showed a stronger performance, compared to the same period in 2017 and 2016. Domestically Financed CAPEX amounted to GH¢438.4 million (or 13.1 percent of the annual target) compared to a programmed target of GH¢1,125.4 million. The Minister also announced to the House that commencement certificates amounting to about GH¢1,000 million have been issued for capital projects. He said a significant portion of programmed arrears for 2018 has been cleared compared to the programmed target. Total clearance of arrears amounted to GH¢807.4 million against a target of GH¢394.9 million. The total clearance constitutes 94.1 percent of the annual target.
Published in Business
External sector performance has improved significantly in 2017 an the overall BoP recorded a surplus of US$1,091million (+2.3% of GDP) in 2017, compared with a surplus of US$362.1million (+0.6% GDP) in 2016, the Finance Minister, Ken Ofori-Atta has said. The improvement largely reflected an improvement in the trade balance driven by increased crude oil and gold export receipts coupled with a decline in imports, he added. Delivering the mid-year budget review on Thursday, the sector minister told Parliamentarians that, the trade balance improved from a deficit of US$1.8 billion in 2016 to a surplus of US$1.1 billion in 2017, due to increased exports receipts by 23.5 percent and a contraction in imports by 1.8 percent. ‘’The improvement in the trade surplus translated into an improved current account balance, which combined with the significant increase in the capital and financial accounts resulted in a significant build up in international reserves. 41,’’ he said. According to him, ‘’the services and income accounts recorded net outflows during the year, which was compensated for by the transfers account as remittance inflows improved significantly. Consequently, the provisional estimates of the current account deficit improved to US$2.1 billion in 2017, compared with US$2.8 billion in 2016. The capital and financial account surplus went up by 17.9 percent, due to a significant increase in portfolio investments during the period.’’ On International Reserves, the Minister said, ‘’the Gross International Reserves at the end of December 2017 was estimated at US$7,554.8 million, from a stock position of US$6,161.8 million at the end of December 2016, representing a build-up of US$1,393.0 million. This was sufficient to provide cover for 4.3 months against 3.5 months of imports over the comparative period.’’ On Exchange rates the minister said the Ghana cedi remained stable against the major currencies, on account of improving macroeconomic fundamentals and higher foreign exchange inflows. However, the foreign exchange market witnessed some volatility in December 2017, in line with the seasonal demand pressures. 44. Cumulatively, on the interbank market, the Ghana cedi depreciated by 4.9, 12.9, and 16.2 percent against the US Dollar, British Pound Sterling and Euro, respectively, in 2017, compared to the same period in 2016, the Cedi depreciated cumulatively by 9.7 and 6.4 percent against the US Dollar and the Euro, respectively, but appreciated by 8.3 percent against the British Pound Sterling.
Published in General News
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