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Aug 19, 2017
A lady believed to be in early twenties had her right nipple bitten off by an angry woman for sleeping with her husband in Sunyani. The victim is said to have met the married man through Facebook who invited her to Sunyani where the two reportedly had sex. According to a report filed by Abdul Malik Anokye, the angry woman was given the hint by a neighbor that his husband, Frimpong Isaac, was having sex with the victim, Cynthia. He told Nyankonton Mu Nsem that Frimpong Isaac, together with Cynthia, went to see a friend, Striker who offered his room for them to have the sexual encounter. However, luck eluded them as Frimpong’s wife caught the two in the act. The angry wife, Lordina was said to have picked a knife and a club and rushed to where the husband and Cynthia were said to be having sex. Upon reaching there, she forced the door opened, pounced on Cynthia and the two fought and in the process, Lordina bit her nipple. Cynthia he added fell unconscious and Frimpong Isaac rushed her to the Sunyani Government where she is receiving treatment.   Meanwhile, Cynthia upon gaining consciousness said she was not aware that Frimpong Isaac was married.,
Aug 19, 2017
Upcoming gospel act, Adomba Vincent is one talent that Ghanaians will need to watch at this year’s MTN Hitmaker Season 6. The talented upcoming gospel act, is hopeful that he will sail through all the major stages and possibly emerge as the overall winner of the prestigious music talent show, which has produced household names like Koo Ntakra. In an interview with rainbowradioonline.com, Adomba Vincent who has a single to his credit ‘Meye Wo Kese’, is hopeful that his talent and the grace of God will make him succeed at this year’s edition. He said, ''I don’t have a producer now and I have recorded this track on my own.  I have other works I believe Ghanaians will love. I am only praying that God will open the doors for me and give me the victory crown at this year’s Hitmaker.'' Adomba Vincent is a product of Mankranso Senior School.   The MTN Hitmaker show is aimed at giving authentic, talented and potential singers and rappers a platform to build upon themselves and be ready for the music industry.   This year’s competition is in partnership with Huawei Ghana who have promised to provide their topmost support by giving out incentives to competitors on weekly episodes.   Judges for ‘The Next Level’ include media personality, Caroline Sampson, music producer Kaywa and a surprise judge to be announced soon. Richie, Kaywa and Magnom are the beat makers who will be working with the contestants of the competition this year. 
Aug 19, 2017
The World Health Organisation (WHO) has listed drug resistant gonorrhoea, a sexually transmitted disease caused by the Neisseria gonorrhoeae bacterium, as a high priority infection that poses a great threat to human health. WHO has estimated that 700,000 people around the world die annually from drug resistant infections.Antimicrobial resistance occurs when a strain of bacteria evolves to resist each consecutive treatment until no treatments are left, leaving these so-called ‘superbugs’ incurable. Antibiotics have become less effective against certain bacteria, including N. gonorrhoeae, largely due to overuse and misuse of antimicrobials. According to a release available to the Ghana News Agency, some strains of N. gonorrhoeae are now currently untreatable due to the lack of alternative treatments. The standard WHO recommended treatment combines the antibiotics ceftriaxone and azithromycin, but without treatment, gonorrhoea infection can lead to pelvic inflammatory disease and infertility in adults, and vision damage in babies when passed from the mother during childbirth. Now, for the first time, researchers from Imperial College London and the London School of Hygiene & Tropical Medicine have tested the new antibiotic, closthioamide, on gonorrhoea samples in the laboratory.The researchers tested 149 samples of N. gonorrhoeae from hospital patients with infections in the throat, urethra, cervix and rectum. They found that at very low amounts (0.125mg/L), closthioamide was effective against 146 of 149 samples taken from patients, and against all of the samples provided by WHO which were known to be resistant to other antibiotics. Although still yet to be tested on animals and humans, the researchers say the antibiotic could be an exciting new step in the fight against the disease. The paper is published in the journal Antimicrobial Agents and Chemotherapy.   –   Source: GNA
Aug 19, 2017
Governor of the Central Bank, Dr. Ernest Addison has hinted that it will investigate and sanction officials whose activities led to the collapse of UT Bank and Capital Bank.     He gave the hint at a press conference at the bank today [Monday].   “The last phase of the BoG’s action would involve a thorough investigation of operations of UT Bank and Capital Bank and appropriate action will be taken against shareholders, Directors, and key a Management personnel who are found to be culpable.’’   According to him ‘’The Banks and SDI Act, 2016 (Act 930) provides that undercapitalised banks be given 180 days to correct their capital position. Significantly undercapitalised banks are requested to reach a minimum capital adequacy of 5 percent in 90 days and 10 percent in 180 days. In the case of insolvent banks and banks that are likely to become insolvent, the Bank of Ghana is mandated to revoke their licences.’’   He added: ‘’UT Bank and Capital Bank were heavily deficient in capital and liquidity and their continuous operation could have jeopardized not only their depositors’ funds, but also posed a threat to the stability of the financial system. It therefore became necessary for the Bank of Ghana to revoke their licenses and approve a Purchase and Assumption (P&A) transaction to allow GCB Bank, a large bank with the right balance sheet, to take over all deposits and selected assets of UT Bank and Capital Bank.           Find below the full address from the BoG governor BOG STATEMENT ON UT BANK & CAPITAL BANK 1.    Thank you very much for honouring this invitation at such short notice. 2.    The Bank of Ghana has approved a Purchase and Assumption (P&A) transaction involving UT Bank and Capital Bank and the GCB Bank. This action was taken to protect depositors’ funds and strengthen Ghana’s financial sector. This press conference will provide more clarity on the transaction. 3.    The Banks and SDI Act, 2016 (Act 930) provides that undercapitalised banks be given 180 days to correct their capital position. Significantly undercapitalised banks are requested to reach a minimum capital adequacy of 5 percent in 90 days and 10 percent in 180 days. In the case of insolvent banks and banks that are likely to become insolvent, the Bank of Ghana is mandated to revoke their licences. 4.    The Purchase and Assumption transaction has distinct benefits as customers will suffer no loss, the acquiring bank can increase its market share, and productive financial assets are maintained. 5.    The first point of emphasis is that, no depositor will lose his or her funds and all depositors can continue to do normal banking business with GCB Bank. 6.    Under the Purchase and Assumption (P&A) transaction, GCB Bank will acquire all deposits and some selected assets of UT Bank and Capital Bank. The premises of UT Bank and Capital Bank will now be rebranded as branches of GCB Bank. All customers can continue normal banking business at these branches. All debtors should continue making their loan repayments as legally scheduled. 7.    Ladies and Gentlemen, banks play a crucial role in financial intermediation for growth and development of the country. However, there are risks associated with performing this role, which should be managed effectively to avoid jeopardising the stability of the financial sector. 8.    Ladies and Gentlemen, UT Bank and Capital Bank were requested to submit restructuring and capital restoration plans. However, plans submitted were found to be unacceptable. A pro-forma balance sheet of liabilities to be taken and assets to be purchased were prepared and a pool of bidders was asked to express interest. GCB Bank was then selected among three others on the basis of purchase price, cost of funding, branches to be retained, staff to be employed, and impacting the acquiring bank’s capital adequacy ratio. 9.    Ladies and Gentlemen, UT Bank and Capital Bank were heavily deficient in capital and liquidity and their continuous operation could have jeopardized not only their depositors’ funds, but also posed a threat to the stability of the financial system. It therefore became necessary for the Bank of Ghana to revoke their licenses and approve a Purchase and Assumption (P&A) transaction to allow GCB Bank, a large bank with the right balance sheet, to take over all deposits and selected assets of UT Bank and Capital Bank. 10. The acquisition of selected assets and deposit liabilities of UT Bank and Capital Bank by GCB Bank is part of the efforts by GCB Bank to further broaden its reach and grow its balance sheet to support a fast growing economy. And, this is in line with our broad objective to position the financial sector to support the government’s transformational agenda. 11. The last phase of the BoG’s action would involve a thorough investigation of operations of UT Bank and Capital Bank and appropriate action will be taken against shareholders, Directors, and key a Management personnel who are found to be culpable. 12. Ladies and Gentlemen, you will recall that after the AQR exercise, a number of banks were not compliant with the capital adequacy ratio. I am happy to report that most of these banks have put in place credible action plans to restore the capital deficiency, and majority of these banks are already compliant as at today, and the overall banking system remains solid and well-capitalized. 13. To conclude, I want to take the opportunity once again assure customers that no one will lose their deposits and you can continue to do business with GCB Bank. Thank you for your attention.    
Aug 19, 2017
A Deputy General Secretary of the opposition National Democratic Congress (NDC), Koku Anyidoho has denied reports that, the Council of Elders will be meeting over the ongoing fracas between Martin Amidu, a former attorney general and Dr. Valerie Sawyyer, a former deputy chief staff. Speaking to Nyankonton Mu Nsem on Rainbow Radio 87.5Fm, the deputy scribe of the NDC said, the meeting tomorrow [Tuesday] has got nothing to do with Martin Amidu or any other individual. The meeting has everything to do with the Kwesi Botchwey report, he stated. He said, the meeting will among other things, discuss the way forward for the party after its defeat in 2016. The party he explained has recognized the defeat in 2016 and will do their best  to restructure for victory 2020. On the petition filed by some two members of the party calling for the suspension of Martin Amidu, due to his public utterances, he said, everybody will be given a fair hearing before a decision is reached.   Koku Anyidoho further rubbished assertions that the party was facing internal wrangling.
Aug 19, 2017
The President of the Republic, Nana Addo Dankwa Akufo-Addo, says his government is in the process of finalising Ghana’s new Africa Growth and Opportunity Act (AGOA) export strategy and action plan, to boost the volumes of exports to the United States to $500 million by 2020. With Ghana unable to sufficiently exploit the AGOA opportunity, and, thereby, not realising any significant gains, having only exported items worth only $29 million to the United States in 2016, President Akufo-Addo noted that his government is working to put in place measures to ensure that the country takes full advantage of the U.S. market through the AGOA initiative. “We aim at increasing our export volumes under AGOA to $500 million in 2020, which will create in its wake hundreds of thousands of jobs. The target is ambitious, but certainly achievable,” he said. The President made this known on Monday, August 14, 2017, when he launched the expansion project of Dignity-Do-The-Right-Thing Apparel, at the Adjabeng Free Zone enclave, in Accra. Dignity DTRT is a Ghanaian-American joint venture initiative, which is currently employing some 1,600 people, and is set to export $30 million worth of clothing to the United States of America by 2018, under the Africa Growth and Opportunity Act (AGOA). Dignity DTRT, President Akufo-Addo noted, is a key part of the projection for increasing Ghana’s export volumes under AGOA to $500 million by 2020, with the company expected to contribute some $82 million out of this amount. President Akufo-Addo noted that the “U.S. clothing market is worth $100 billion dollars a year. The countries of Eastern and Southern Africa are currently exporting to this market several billion dollars’ worth of clothing every year. We, in Ghana and West Africa, must match them. The opportunity is considerable, and we need to grab hold of it.” He, thus, pledged the support of his government for textile and garment businesses and enterprises across Ghana, to create jobs that provide security for individuals, families and communities, explaining that it “falls squarely within our overall vision of making the development of the textile and garment industry a strategic anchor industry for Ghanaian industrialization.” Describing the Dignity-DTRT project as being consistent with his government’s vision to make Ghana an industrial hub in West Africa, and, thus, drive the socio-economic development of our country, President Akufo-Addo noted, however, that Ghana’s industry has not done well in recent years. “From a growth rate of 15.1% in 2008, the last year of the government of the outstanding Ghanaian statesman, His Excellency John Agyekum Kufuor, former President of the Republic, growth in industry slumped to 0.8% in 2014, -0.3% in 2015, and further down to -1.4% in 2016,” he said. The President continued, “However, as a result of the relative normalisation of the power situation in the country, and the implementation of our business-friendly policies, industry, for the first quarter of 2017, recorded the impressive growth rate of 11.5 percent, the highest sectoral growth in the economy”. He, thus, applauded the success of a Ghanaian-American company, Dignity-Do-The-Right-Thing Apparel (DTRT), which has majority Ghanaian ownership. “It has built, within a short space of 3 years, a thriving, commercial-scale manufacturing operation that is achieving world-class levels of production efficiency. This has led it to become the largest clothing manufacturer in West Africa,” he added. To spur on the creation of jobs in the country, President Akufo-Addo noted that his government has set out to build the most business friendly economy in Africa, and is moving quickly to create an environment that will unleash the innovative and entrepreneurial instincts of the Ghanaian people to drive rapid growth and job creation. The President reiterated that the goal of his government is to “to unlock the full potential of the private sector and the Ghanaian sense of enterprise to create jobs and prosperity for all Ghanaians, and to position Ghana as a preferred investment destination.”     Source:www.presidency.gov.gh
Aug 19, 2017
The Bank of Ghana has approved the Purchase and Assumption transaction with GCB Bank Limited that transfers all deposits and selected assets of UT Bank and Capital Bank Ltd, a statement has said.   The statement added: ‘’The Bank of Ghana has revoked the Licenses of UT Banl Ltd and Capital Bank Ltd.   According to the Centarl Bank, ‘’this action has become necessary due to severe impairment of their capital. The remaining assets and liabilities will be realized and settled respectively through a receivership process to be undertaken by Messers Vish Ashiagbor and Eric Nana Nipah of PricewaterCoopers (PwC).   ‘’The main offices and branches of UT Bank and Capital Bank will be under the control of GCB Bank and will be opened at 1pm today [Monday] for normal business transactions,’’ the statement indicated.   ‘’Customers of the UT Bank and Capital Bank are now customers of GCB Bank. All deposit  customers will continue to have access  to their funds.UT Bank and Capital Bank branches and ATMs will continue to operate as normal as GCB bank branches and ATMs. All staff in the interim will become staff of GCB Bank and GCB will negotiate the terms of their contract. ‘’GCB was selected amongst 3 others on the basis of purchase price, cost of funding, branches to be retained, staff to be employed and impact on the acquiring  bank’s capital adequacy ratio.’’   The statement further assured the public that customers of the two banks will continue to be normal customers. ‘’The Bank of Ghana assures the public that all customers can continue normal banking business at all UT Bank and Capital Bank facilities which are now branches of GCB.     ‘’The approval by the Bank of Ghana of this transaction is to strengthen Ghana’s banking sector, ensure financial stability and protect depositors’ funds. The Bank of Ghana  reassures customers of UT Bank and Capital Bank that their money is safe and they can continue to do business at their respective branches which are now the branches of GCB Bank,’’ the statement concluded.
Aug 19, 2017
Operation Vangaurd, the anti-galamsey taskforce comprising the military and police personnel have denied killing four persons whose remains were retrieved an abandoned mining pit at Kwabeng in the Atiwa District of the Eastern Region.   Reports had it that the four who were transporting an excavator to a mining site fled and abandoned their equipment upon seeing a team from Operation Vanguard.   But the anti-galamsey taskforce denied killing the four.   Commanding Officer of Operation Vanguard, Colonel William Agyapong said “I don’t know where the story is coming from.” “Only last week there was another story that Operation Vanguard had killed somebody at Juaboso district. If its propaganda it will fail because the good people of Ghana will see through it. I have crosschecked with the patrol team that went to Akukuso yesterday and they had no activity in the town, it is falsehood, it has nothing to do with our operation,” he insisted.   According to the police, they received a report of the incident from one Isaac Annor.   A statement from  the police said“One yaw with three others was in charge of a low loader vehicle which was carting an excavator machine to extra gold mining concession at Akukuso near Kwabeng. That on reaching a section of the road…they were reported to have encountered personnel of the operation vanguard taskforce, so the operator and other occupants all abandoned the vehicle with the engine running but found no one onboard and still could not be traced. Police proceeded to the scene of the incident, combed the area and found an abandoned mining pit filled with water. Divers dived into it and retrieved four bodies…all wearing T-shirts and pair of trousers. Police found blood and foam oozing from their mouth and nostrils.”     The statement added the bodies have been convened to the Police hospital for preservation and autopsy while investigations continue into the matter.
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