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Rainbow Radio - Items filtered by date: Tuesday, 28 November 2017
Businessman Alfred Agbesi Woyome has expressed worry over what he described as ‘’misleading reportage’’ by the media on the Supreme Court ruling today [Tuesday] November 28, 2017.   In a statement issued and signed by Reginald Seth Dogbey his aid, the businessman said ‘’The comments they made about the African Court’s Interim Measures was that it was not directed at them (Supreme Court), but rather it was directed at the Attorney General and the government of Ghana, and that our lawyers and the African Court must notify them officially.’’   The apex court on Tuesday ignored an order made by the African Court for Human and People's Rights asking Ghana to halt efforts to retrieve 51.2million cedis wrongfully paid to Alfred Agbesi Woyome. Lawyers for the businessman on Tuesday presented the order to the Supreme Court asking that all proceedings relating to the repayment of the money be suspended.   But the five member court said the African court on human and peoples right does not have jurisdiction over its constitutional mandate.   Below is the full statement from Mr. Woyome REACTIONS FROM THE OFFICE OF ALFRED AGBESI WOYOME ON THE MISLEADING REPORTAGE BY SOME SECTIONS OF THE MEDIA ON THE SUPREME COURT RULING ON TUESDAY, 28ST NOVEMBER, 2017. We are shocked again by media reportage today that the orders of the African Court of Human & People’s Rights has been dismissed. As we stated in our statement yesterday, the matter before the Supreme Court of Ghana was purely on Article 40 and Article 75 and a plea on them to stay all proceedings in the execution of the judgement involving: Martin Alamisi Amidu } Plaintiff vrs 1. Attorney General } 1st Defendant 2. Watervile Holdings (BVI) Limited } 2nd Defendant 3. Alfred Agbesi Woyome } 3rd Defendant The ruling was slated for today, Tuesday, 28th November 2017. The Interim Measures of the African Court of Human & People’s Rights was issued yesterday (Monday, 27th November) dated 24th November, 2017 and our lawyers thought it wise to bring it to the notice of the court before the ruling today on the stay of execution. The Interim Measures of the African Court on Human & People’s Rights was not before them and couldn’t have come before them as a matter of constitutional dictates. The main application before the Supreme Court for stay of execution was dismissed by them today; and the ruling on it is available at the registry of the Supreme Court for anyone to read. The comments they made about the African Court’s Interim Measures was that it was not directed at them (Supreme Court), but rather it was directed at the Attorney General and the government of Ghana, and that our lawyers and the African Court must notify them officially. It is on record that Ms. Gloria Afua Akuffo, the Attorney General; Mr. Godfred Yeboah Odame, the Deputy Attorney General; and Ms. Dorothy Afriyie-Ansah, Chief State Attorney have been notified directly by the Registry of the African Court. The African Court has directed Ghana, represented by the above persons to report to the African Court on Human & People’s Rights within 15 days, steps they have taken in respect of the interim measures. Article 40, article 75, and Article 88 and the various parliamentary ratifications of the African Charter compel the above personalities representing the State of Ghana to obey the orders of the African Court of Human & People’s Rights. There is no way they can disobey the orders as it will be a violation of the constitution and the laws of Ghana. Attached is the full order which demonstrates their full participation in all the processes and the legalities of it. The Supreme Court of Ghana is an independent institution protected by the constitution of Ghana. This is not the first time the Supreme Court has ruled and international courts have overturned them. The government of Ghana is compelled to comply with the rulings of the international courts according to their international obligations. The recent example are the Bulkan Energy case, Bankswitch, etc. The Deputy Attorney General, Godfred Yeboah Odame and co. would rather have to prepare to go before the African Court on Human & People’s Rights when a date is given to defend their written submissions before the Court. Signed Reginald Seth Dogbey Top of Form    
Published in General News
Ghanaians can look forward to a reduction in the amounts they pay as interest on loans when the various measures aimed at formalising the economy are completed, Vice President Alhaji Dr Mahamudu Bawumia has indicated. The average interest rate of 29% on loans in Ghana as at September 2017 is among the highest in Africa, with banks citing the risk of default as a major factor. In contrast, borrowers in Botswana pay about 7%, while Mauritian banks charge an average of 8.5%. South African banks charge an average of 10.25%, according to figures from their central banks. Speaking at the 21 st National Banking Conference, organized by the Charted Institute of Bankers, in Accra on Tuesday November 28, 2017, Vice President Bawumia explained that Ghana has one of the highest mortgage-to- income ratios in the world and high interest rates because of the largely informal nature of her economy, and the reforms being undertaken by the Nana Akufo-Addo government are meant to address this challenge. Dr Bawumia, who is a former Central banker, said banks are unable to lend at low rates because of the risks associated with lending to an unknown quantity, hence Government’s decision to introduce measures such as the National ID card and the Digital Property Addressing system to make it easier to identify and trace borrowers and thereby reduce the risk premium. “As bankers, we’ve always realised that high interest rates makes it difficult for customers to pay, and it makes the banking system very fragile. “Banks face many problems. The risk that customers present: they come to you, you don’t know what their history is, there is no unique ID for an individual customer; you cannot tell. “The credit reference system is not really robust so you don’t know exactly what their history is, how many banks they’ve taken loans from and they haven’t paid, whether there’s been a change of name in the middle; you are presented with an unknown quantity and sometimes somebody opens an account today and they want to borrow money that same afternoon. “The risk is quite high that you’re facing because you are dealing with depositors’ funds but you don’t know who they (borrowers) are, and you don’t know where they live, so we (government) basically said you need to at least put these fundamentals in place before you can really expect a sustainable decline in interest rates that can be driven by proper risk assessment through credit rating agencies and so on. “If we cannot uniquely identify individuals in our economy or and also uniquely identify where they live it becomes a very chaotic environment to do banking and therefore the risk premium will continue to be high, and even though you are bringing down the deficits and bringing down the T bill rate, you are not going to see the impact on the lending rate in particular. When you don’t see the impact on the lending rate it means that it makes it tougher for your customers to pay back the loans in general, and so the fragility of the banking system is there.” He added: “This is what is really driving some of what we are doing. Nobody is going to push you as a country to have a national ID system or to have a working address. Nobody’s going to push you but you have to make sure that you have those as the soft infrastructure to support your banking industry and to support industry as a whole. “This is what is driving the issue of the national ID card. The National Digital Property Address System has also been launched. Preparations are underway for the mass issuance of the national ID card so that we can really trace customers, we can build a robust credit reference agency and together these will be very fundamental to reducing interest rates and strengthening the stability of our financial system and our banking system.” The Vice President urged banks to play a greater role in growing and strengthening Ghana’s economy, while assuring of government’s commitment to ensuring macro-economic stability. “I challenge banks to be relevant to the economy by extending loans to the productive sectors particularly the Small and Medium Scale Enterprises. As a government, we are committed to improving the economy through the pursuit of prudent financial management policies. “The future of banking is bright but we have a lot to do together as key stakeholders in the industry. Let us pursue banking reforms and policies that will strengthen prudential and regulatory oversight to maintain a resilient banking sector.” The 21 st National Banking Conference is under the theme “Building a Robust and Sustainable Banking System in Ghana”. It is being attended by heads of banking institutions in Ghana, as well as current and former Governors of the Bank of Ghana.  
Published in General News
Ghana and Italy have resolved to deepen the bilateral relations that exist between the two countries, as well as explore areas of interest which will inure to the mutual benefit of the two countries and their respective populations. This was disclosed on Tuesday, 28th November, 2017, when the Italian Prime Minister, Paolo Gentiloni, paid a courtesy call on the President of the Republic, Nana Addo Dankwa Akufo-Addo, as part of a day’s working visit to Ghana. Addressing a joint press conference at the Presidency, President Akufo-Addo noted that relations between Ghana and Italy date several years, recalling the involvement of Italian companies in the construction of the Akosombo dam, Kpone dam, and the Tema Oil Refinery. President Akufo-Addo noted that subsequent visit to Italy by former Presidents J.A. Kufuor and John Mahama “really broke the barriers of allowing us to even establish even stronger links.” The President noted that the arrival of Paolo Gentiloni “is within the context of this strong relationship that is between our two countries.” Touching on the many areas of Ghana’s national life where Italian involvement has been important, President Akufo-Addo acknowledged the support given to the Kofi Anan Peace Keeping Training Centre by the Italian government. “The training and investment between our countries is modest but is important and the biggest investment in our nation for over a decade is that which has been made by the Italian state owned petroleum company ENI,” the President said. He continued, “The ENI investment is extremely important for the future of our country, not only in developing our oil deposits, but also, perhaps, even more significantly, in the gas resources that are going to be developed by them.” The involvement of ENI, the President acknowledged “gives us the opportunity to become increasingly self-sufficient in our energy generation. We are looking forward for greater intercourse with ENI that would allow us to go into other areas of the energy portfolio.” On the impending 5th AU-EU summit, which will take place in Cote d’Ivoire from Wednesday, 29th November, President Akufo-Addo was hopeful that the Summit would define more concretely the relationship between the two continents. “Looking at issues of common concern, the development of our economy, the issue of migration, issues of terrorism that confront both our continents, it is my expectation and hope that both Ghana and Italy will play very constructive roles tomorrow in defining this new understanding, this new relationship between Europe and Africa,” the President added.    
Published in General News
Passenger Transport Company, SK Boafo Travel and Tours was adjudged the overall best transport company t the maiden edition of Ghana National Chamber of Commerce (GNCC) Business Awards.   The company with a humble beginning of two buses now can be credited with 10 mini buses, 50 (30-seater) coaster buses, 4 pick-up vehicles, 5 cross country vehicles, 40 tour buses, 10 tipper trucks and 5 excavators. A citation presented to the company read: ‘’You have become the ‘Pride of the East’ as a result and you stick to adherence to safety reputations, which has seen your company record a zero road accident since its inception and thus wining you contracts with corporate bodies to which you provide employer transport services over the years. ‘’Refreshing to your evaluators is the initiative you have taken to educate other commercial drivers and unions on road safety engagements with youths on business initiatives among others. ‘’You offer employment to workforce who are well equipped with technical information and have endeared themselves to your patrons as a result. Your philanthropic initiations have touched the hearts of your evaluators who laud you for a wonderful work done in the area of community support, health, education and religion,’’ it added.   In an interview with Nyankonton Mu Nsem, the CEO of the company, SK Boafo said it took him hard work, dedication and diligence to get to where the company is told.  He revealed further that he has conducted feasibility studies in the West African sub-region and their services are needed and will soon move to Burkina Faso and other African countries. The comapny he announced will establish an ultra mordern bus terminal to enhance therir services. The awards, held on  25th November, 2017 at the Banquet Hall of the State House, as under the  the theme: “Enterprises in Transition: Recognising Innovative Businesses in Ghana.” Criteria used for the selection include; annual turnover, profit and tax compliance, thought leadership engagement, innovation and technology, customer service schemes, relationship and people management, corporate social responsibility, environment management and corporate reputation management. The GNCC initiated Business Awards to celebrate the very best and finest of Ghanaian businesses that have demonstrated excellence in leadership and innovation in contributing to the socio-economic development of Ghana.       The first section of the Awards had 16 categories with emphasis on excellence and quality in service and product delivery: the categories and winners alike are: Agriculture, B. Balvd Limited, Arts and Crafts, Akila Limited , Automobile & Dealership, Japan Motors Limited, Banks, Bank of Africa, Catering, Trafix Catering.       The rest are, Emerging Business of the Year, Royal Crown Packaging Limited , Fashion Design, Guest Accommodation, Accra City Hotel Limited, Logistics, Global Cargo and Commodities Limited, , Manufacturing, Mining / Oil & Gas, Petrosol, Passenger Transport, S.K. Boafo Travel and Tours, and  Insurance, Vanguard Assurance.       The second section of the Awards had three (3) categories and they are: Young Entrepreneur of the Year, Michael Bozumbil of Petrosol, Chamber Business Man of the Year, Issa Ouedraogo of B. Balvd Limited and Chamber Business Woman of the Year, Bella Ahu of Trafix.       The third section of the awards was a special award to the deserving Chamber Members/ Personalities and it was dubbed, Chamber’s Special Awards (Non-competitive).       Tobinco pharmaceuticals, Nyonkopa Cocoa Buying Company, Bedrock Ventures Limited, Yvonne Exclusive Designs, Bank of Africa, Despite Group of companies, Manufacturing, and Coca Cola Bottling Company limited were amongst the recipients of this category of awards.          
Published in General News
Roads and Highways Minister, Kwesi Amoako-Atta was today [Tuesday] November 28, 2017 summoned before Parliament to explain the circumstances that led to the closure of the Buipe and Yapei bridges. Leader of the Minority in Parliament Haruna Iddrisu, told the House that the closure of the bridge has resulted in untold hardship for travellers especially as the Christmas celebration is drawing close. “Mr Speaker, we want the Roads and Highways Minister to furnish this house with what plans and alternative measures he put in place before announcing the closure of the bridge and what steps he is taking, together with the District Coordinating Council and the Assemblies to end this. “The closure is affecting businesses, it is affecting transportation, and we are in a Christmas where people will be moving their goods and services,’’ he lamented   The Minister Kwasi AmoakoAttah directed the immediate closure of two bridges crucial to economic activity between northern Ghana and the rest of the country.     According to engineers the Buipe and Yapei bridges are so weak they could collapse anytime.   The closure of the bridges means that hundreds of heavy-duty articulated vehicles that cart foodstuffs from Burkina Faso and the northern parts of Ghana to the south and other parts of the country will temporarily be unable to do so.   The reconstruction project is estimated to cost about $75 million.
Published in General News
The Deputy Minister of Health and MP for Bibiani Anwhiaso Bekwai constituency, Hon. Kingsley Aboagye Gyedu has revelaed accessibility to quality medicine in West African sub-region still remains a major concern despite the concerted effort by government and development partners.   He said assessment by New Partnership for Africa Development (NEPAD) and West Africa Health Organization (WAHO) in 2011 revealed that the medicine regulatory systems in the sub-Saharan African countries are affected by fragmented legal framework, limited autonomy, and lack of sustainable funding, poor infrastructure and institutional capacity to meet the requirement of the World Health Organization (WHO).  He was speaking at the launch of ECOWAS Medicines Regulatory Harmonization Project.   He further added, the quality of life of people is important and it is dependent on the quality of drugs people take and implored the regulatory agencies to have their capacities built.
Published in General News
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Ghana to have beach sports arena in 2018

The President of the Ghana Beach Soccer Association Yaw Ampofo Ankrah has laughed off any suggestions that beach soccer in Ghana is dead.   In an exclusive interview, the sports journalist cum sports administrator conceded that 2017 has been a quiet year for the sport but attributed this to "serious" behind the scenes work including the proposed construction of Ghana's first ever beach sports arena in 2018.   He said it would be a fair question for people to ask why beach soccer is quiet but quickly added that, it would be unfair to say the sport is dead.   According to him, they sat back and assessed their performance compared it to what others are doing and has documented all these findings and will soon release same.   The beach soccer arena he revealed will not only be used for beach soccer but will serve as an arena for beach wrestling, beach volleyball and other beach activities popular in other countries. ‘’The arena can be used for entertainment and other events to bring money to the communities and the youth. It will help create jobs, promote tourism. We need to look at the bigger picture. After doing the same thing for so many years with little success, let’s change it. Those who are frustrated; I am also not happy with the slow pace but we have to do things right, and I think once the blueprint is out, we will understand that we are trying to go in a positive direction,’’ he said.   Beach soccer, also known as beach football  is a variant of association football played on a beach or some form of sand.   The game emphasizes skill, agility and accuracy in shooting at the goal.
Published in Sports
The Member of Parliament (MP), for Asunafo South constituency, Brong Ahafo region, Mr. Eric Opoku  has described the 2018 budget statement presented by the Finance Minister, Ken Ofori-Atta as misleading.   The legislator says paragraph 789 of the 2018 budget said government distributed 100,000 metric tons of fertilizer but has mentioned a different figure in paragraph 388 with distribution of 121,000.   He quizzed, how can we have different figures of fertilizer which has been distributed by same government in the 2018 budget.   The MP added that the budget for 2018 is full of mistakes, misleading and has therefore pleaded with the house to reject the document for the minister to do the necessary corrections and bring it back  for approval.   In his view, Parliament will do Ghanaians a great disservice if they approve any part of the budget without the necessary corrections made.   The Minister of Finance and Economic Planning, Mr. Ken Ofori-Atta last week  Wednesday presented the 2018 Budget Statement and Economic Policy to Parliament. The 2018 Budget themed “Putting Ghana back to work” is informed by President Akufo-Addo’s coordinated programme for economic and social development policies which aims at creating a conducive environment for the private sector to thrive, propel growth and create employment opportunities, especially for the youth.   On job creation, the minister announced that government will form the National Builders Corps to create jobs for 100,000 graduates.   The 100,000 jobs he noted would be public-sector based in areas like public works projects, afforestation, sanitation, and community policy. Government he also announced has initiated the process of establishing a cocoa farmers’ pension scheme.   To strengthen the financial sector, he said government will launch the national development bank to mobilize about US500 million towards agricultural and industrial transformation. Government will also restructure the Ghana Infrastructure Investment Fund (GIIF) to mobilize US1 billion for critical infrastructural development.    
Published in General News
Sound Engineer cum Musician, Danny Beatz has disclosed in an interview that his mother gave him an amount of GHc300 to start operating a studio. Originally born Daniel Owusu Agyapong, the beat maker said the mother blessed the money and prayed for him to succeed and can boldly say, the prayers  have worked for him.   Operating a studio he said is expensive and without the help of God, you will not be able to operate a state of the art studio.   He explained, in a good recording studio, you will need to invest a lot of money. You will need to purchase high quality items. Everything from microphones, to different instruments, amplifiers for all of those instruments, effects processors, recording equipment, consoles, computers, etc.   You will need to buy the best  to get the desire results. He further revealed that he did not find it easy when he decided to operate a studio because as someone who have studied telecom engineering at the university, my father and some other family members were against my decision to go into beat making.   He said they told me that only ‘kubulours’ pursue a career in music but little did they know that when you do your best, you will make enough money.   ‘’My mother bought me a microphone and a mixer. I was already having a computer. She added an amount of GHc300 and blessed it and asked that God uplift me to the point he wants to and that prayer has worked well for me,’’ he said.   Danny Beatz was proud to say that, he’s been able to invest heavily in his family and laid a solid foundation for himself through music. He also advised parents not to denigrate their wards that are talented but rather support them to explore their creativity. He bemoaned the negative tag given creative people and the perception about them. He said Ghanaians only focus on office work and fail to support artisans and creative individuals. ‘’You cannot ignore talents because that is what is shaping the world today. Talented and creative people are the giants in the world today and so I will encourage parents to support their children pursuing creative courses so they succeed,’’ he said. In his view, the money creative minds fetch are more than what corporate workers get in their entire working life.    
Published in General News
  The Director of the National Police Patrol Department (NPD), Commissioner of Police (COP) Akuribah Yaagy has revealed that the Ghana Police is to recruit 15,000 Community Policing Assistants through the Youth Employment Agency (YEA).     He made the disclosure at a meeting in Koforidua and added that the youth, who would be recruited, would be from the communities, and focus would be on those who are familiar with their communities, and could help the police in gathering intelligence to help reduce crime in the country.         COP Yaagy said the new policing concept would bring about development because once the communities were safe, the President’s vision of one village one dam, planting for food and jobs and one district one factory policies would be successful.        
Published in General News
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