The President of the Republic, Nana Addo Dankwa Akufo-Addo, has revealed that his administration has set aside, for 2018 alone, an amount of GH¢500 million to construct new roads, as well as give a facelift to some existing roads in the Ashanti Region.
Speaking at the Akwasidae celebrations, on Sunday, 12th August, 2018, at the Manhyia Palace, President Akufo-Addo noted that, despite the “unprecedented infrastructural development” touted by the predecessor government, the consistent cry of the Ghanaian people, everywhere he has been since becoming President, has been about the poor nature of their roads.
“So where is this unprecedented infrastructural development that was touted by my predecessor? The roads in Ghana’s second biggest city, Kumasi, are nothing to write home about, even though much of the country’s revenues and resources come from the Ashanti Region,” the President bemoaned.
He continued, “I was left with a bankrupt economy, but with hard work and discipline, we have been able to find money. So, this year, GH¢500 million has been devoted to the roads in Ashanti. This comprehensive plan for roads, i.e. the Kumasi Roads Facelift Project, has already been approved by Cabinet, and will result in the facelift of Kumasi roads, as well as the development of roads in Ashanti.”
The President noted that his administration cannot fix all roads in the Region, and, indeed, in the entire country at a go, but assured that before he leaves office, the vast majority of roads in the country would have been fixed.
Government’s focus on infrastructure, he said, is not only about the development of the country’s road network, stressing that railway infrastructure is also critical to the country’s needs.
“Over the years, we have not maintained our railway sector. However, in my time, the railway sector is undergoing massive rehabilitation. Shortly, the Minister for Railways Development, Hon. Joe Ghartey, will roll-out the comprehensive plan my Government has for the redevelopment of our country’s railway sector,” he added
President Akufo-Addo assured that “Kumasi is going to be at the heart, and will be a central hub of the whole railway infrastructure of our country. This will ensure easy access from Kumasi to Nyinahini, and to all the key natural resource areas in Asanteman.”
He, thus, appealed to Otumfuo Osei Tutu and all the Chiefs of the Ashanti Region to support the programmes and policies put in place by his Government, and also help educate their subjects about the importance of these measures, and they being the surest route to progress and prosperity.
“There will be those who will always want to obstruct progress, and put obstacles in my way and in the way of my government. But, I can assure them that it will not work. These programmes, when implemented, will bring development to Ghana and, indeed, to Asanteman,” he added.
President Akufo-Addo also paid tribute to the work undertaken by the Asantehene in bringing most chieftaincy disputes in the region to an end.
“Together, let us all help to resolve all the remaining disputes. Chieftaincy disputes are a drain on government’s resources, and, if anyone understands what I am saying better, it is you, Otumfuo.”
“My wish is that, when the story of our country’s history is being told, it should be said that it was during the time of two friends, Otumfuo Osei Tutu and President Akufo-Addo, that Ghana and Asanteman were put on the path of progress and prosperity,” he added.
Dzata Cement has rubbished claims that it contributed to the collapse of UT bank in 2017.
According to a statement issued by the company's lawyer on behalf of CEO Ibrahim Mahama, the company which is 80 percent discount not default in payment.
The statement indicated the payment was structured to start after completion of the company and sales have stated.
The statement in parts read: "The outlining agreement which culminated in UT Bank offering financial assistance was that, it will provide liquidity support to Dzata Cement until the factory commence operations and starts selling its cement.
The agreement was that all payments or proceeds from the sale of cement will be paid directly into an account owned and operated by UT Bank."
BRIEF FACTS ABOUT BANK FACILITIES WITH UT BANK NOW IN RECEIVERSHIP).
1. The sum of money put out there as the amount owed by companies 'owned' by Ibrahim Maliama is not accurate and not a reflection of the facts and documents.
2. Over a period of time, a group of companies with a company purpose and vision conceived the idea of jointly establishing a cement factory in Ghana and accordingly pulled resources together to actualize this vision.
3. Pursuant to the vision. Dzata cement Rd put together a proposal for funding and sent them to a number of Banks for financial support
4. UT Bank after a thorough due diligence on the companies agreed to offer financial support to Dzata cement ltd on terms.
5. The outlining agreement which culminated in UT Bank offering financial assistance was that, it will provide liquidity support to Dzata Cement until the factory commence operations and starts selling its cement.
6. The agreement was that all payments or proceeds from the sale of cement will be paid directly into an account owned and operated by UT Bank.
7. Indeed it was agreed by the Parties that UT Bank will have a branch on the premises of the factory which will serve as pay point for all products purchased by customers.
8. The projected revenue per day from the sale of cement was a minimum of GHC 1,000,000 and with this projection Dzata would have paid off the loan with the interest in less than five years.
9. It was agreed that UT Bank will finance the cement factory till it becomes operational but this unfortunately could not happen due to the revocation of its licence last year. At the time the Bank's licence was revoked the records will show that the project was about 80% complete
10. Due to the unexpected revocation or the Bank's licence Dzata had to resort to other financiers for support to complete the project. In February 2018, government of Ghana gave the Cement company clearance to import 1.2 million metric tonnes of bulk cement for re-bagging based on evidence of installed bagging Plant.
11. As stated earlier, the loans advanced to Dzata cement was to be repaid from the proceeds of the sale of cement. Clearly at the time the Licence of the Bank was revoked, Dzata could not have been in a position of default because the factory was not operational then.
12. It must also be noted that, Mr. Ibrahim Mahama did not contribute in any way towards the 'collapse' of UT Bank. the evidence available to the Bank will show clearly that the loans taken by Dzata Cement were over collateralized.
13. The report purportedly making the rounds in the media may have been skewed or misrepresents the facts and therefore should be dismissed.
Sgd. Reindorf Twumasi Esq 0243533095
HomeBriefing RoomLatest News“We Are Fulfilling Our Promises” – President Akufo-Addo
“We Are Fulfilling Our Promises” – President Akufo-Addo
Communications Bureau Latest News 12 August 2018
The President of the Republic, Nana Addo Dankwa Akufo-Addo, says the period of stay of his administration in office has witnessed the fulfillment of many of the promises he made to the Ghanaian people in the run-up to the December 2016 elections.
According to President Akufo-Addo, “the work that we promised to do, the promises I made during the campaign period, I believe that all Ghanaians can attest to the fact that they were not idle promises, but rather promises that I honestly believed that I could fulfill, once I won power.”
Addressing a durbar of chiefs held in his honour at Beposo, on Saturday, 11th August, 2018, i.e. day 2 of his 5-day tour of the Ashanti Region, President Akufo-Addo stressed that, amongst others, Free Senior High School Education is a reality today.
“Those who said we could not do it have been put to shame. Very soon, we will pass legislation that stipulates that every child in Ghana should go to school up to Senior High School level, at least. We don’t want dropouts. This way, everyone can find meaningful employment in this country,” the President said.
He continued, “We have reduced electricity tariffs as well, so as to bring relief to individual households, as well as to businesses. By so doing, business owners, especially entrepreneurs, will be energised to bring in more income. We came to visit you and to inform you that the promises we made to you here in Beposo, during the campaign period, are being fulfilled.
President Akufo-Addo thanked the Chief of Beposo, Nana Boamah Kwabi IV, for the large tracts of land, i.e. 24,000 acres, given to his administration to facilitate the realization of Government’s flagship projects such as the Programme for Planting for Food and Jobs, and 1-District-1-Factory.
“These are very valuable additions. I am truly thankful. In the same vein, the Kwamanhene has also offered us 5,000 acres for Planting for Food and Jobs. The Nsutamanhene has also given us 3,000 acres for warehouses. Out of the 21 constituencies here in Asanteman that will have warehouses, the Nsuta constituency will receive one,” he added.
Touching the concerns of the Beposohene on the extension of electricity to all communities in Beposo, President Akufo-Addo assured that Government is working towards ensuring that “every town and village in this country will have access to electricity, so that nobody will be left behind.
“It is systematic. We are pushing for complete rural electrification and very soon, you will hear from us here in Beposo.”
Earlier in the day, President Akufo-Addo visited the Rocklands Farms in Beposo, Wontumi Farms in Asare Nkwanta, and visited Assam, in Mampong, to inspect ongoing works on the Kofiase-Mampong road, which is being constructed for the first time in the country’s history.
US space agency Nasa has launched its mission to send a satellite closer to the Sun than any before.
The rocket carrying the Parker Solar Probe shot up into the sky from Cape Canaveral, Florida.
It came after a failed attempt the previous day, when a last-minute alarm caused the agency to miss its 65-minute weather window.
The probe is set to become the fastest-moving manmade object in history.
Its data promises to crack longstanding mysteries about the Sun's behaviour.
What will the probe do?
The probe aims to dip directly into our star's outer atmosphere, or corona.
It is travelling on board the Delta-IV Heavy rocket, which will hurl the probe into the inner Solar System.
Analysis: Why this mission is important
The probe will zip past Venus in six weeks and make a first rendezvous with the Sun a further six weeks after that.
Over the course of seven years, Parker will make 24 loops around our star to study the physics of the corona, the place where much of the important activity that affects the Earth seems to originate.
The probe will dip inside this tenuous atmosphere, sampling conditions, and getting to just 6.16 million km (3.83 million miles) from the Sun's broiling "surface".
"I realise that might not sound that close, but imagine the Sun and the Earth were a metre apart. Parker Solar Probe would be just 4cm away from the Sun," explained Dr Nicky Fox, the British-born project scientist who is affiliated to the Johns Hopkins Applied Physics Laboratory.
"We'll also be the fastest human-made object ever, travelling around the Sun at speeds of up to 690,000km/h (430,000mph) - New York to Tokyo in under a minute!" she told BBC News.
An aspiring presidential candidate hopeful for the opposition National Democratic Congress, Elikplim Lorlormavor Agbemava, has promised to exempt churches from paying taxes when elected to the higher office of the land. The private legal practitioner underscored the need for churches to abide by strict financial laws of the country instead of them paying taxes. He also slammed those discussing the debate based on emotions and without any concrete solutions. He called on Ghanaians to avoid being mediocre when issues are being discussed. Read his post below TAXING THE CHURCH Taxation of the Church has been a long standing issue. This does not mean that there aren’t solutions to the debate where the competing interests are addressed. The state wants to assure itself that the money being deposited with the mega churches each Sunday does not find its way into private pockets without any social impact. The churches are adamant that such funds are for God and must remain so. The state must not touch the anointed cash. The solution has been that in America and the United Kingdom the churches are made to register as charitable organizations that are tax exempt. The tax exemption however is not without responsibility. The obligation and duty placed on the churches for the exemption from paying tax is their commitment to a strict regime of regulation and financial reporting on what charitable causes they engage in annually. EVERY GHANAIAN CHURCH THAT HAS BRANCHES IN THE US AND UK comply with these laws without the hue and cry generated in Ghana each time the issue of tax is raised. All the so called big churches have branches in Europe and America and they comply with the financial reporting laws. Further I cannot believe that our government and it’s officials do not know that the issue of taxation of the Church is a give and take and one that has been successfully addressed in other jurisdictions who we can easily, I mean, easily learn from. The current proposal to tax churches without an addition that they will be committed to financial reporting and charitable targets really beats my imagination. Are we that daft or we just playing the usual gimmick of toying with the emotions of the people of Ghana without any concrete action being taken? Let’s stop this mediocre approach to nation building and do something concrete and honest for the people. The churches will be exempted from tax when I am president but they will have to comply with strict regimes of financial reporting and meet verifiable social responsibility targets.