Category: NEWS UPDATES

  • Sarkodie Calmly Denies Funny Face’s Request For A Rap Lesson…

    Sarkodie Calmly Denies Funny Face’s Request For A Rap Lesson…

    Sarkodie is well known as the reigning king of rap and a lot of Ghanaian acts crave to learn from him and discover his secret to being a phenomenal rapper.

    Most upcoming rappers such as Tulenkey, have confessed their admiration for him and how they look to him for advice on how to walk in his shoes and dominate the rap game.

    The latest person to reach out to King Sark is singer, actor and comedian Funny Face.

    In a twitter post, he offered to school Sarkodie in FIFA in exchange for a rap lesson.

    He said;

    “ GYE NYAME “King Sark @sarkodie bro how far .. u ready ? Going for vacation in da Bahamas with my chickens ,crocodile , ducks , turkeys and Guinea fowls .. when I come back .. let’s fix a date .. so I teach u how to play FIFA den u teach me how to Rap !! Deal ?

    In a calm subtle reply, Sarkodie passed on his rap request but urged him to keep bettering his FIFA skills and perhaps, one day he might get an invite. He said;

    “Naa man I gave up on this game … no one giving me a tough time … keep playing I’m watching who pulls weight then imma invite you”

    Screenshots below;​

    ghbase

  • Afia Pokua Warns Ayisha Modi To Stop Teasing Sarkodie After She Compared The Fake UN Awards With Stonebwoy’s Grammy

    Afia Pokua Warns Ayisha Modi To Stop Teasing Sarkodie After She Compared The Fake UN Awards With Stonebwoy’s Grammy

    Newscaster Afia Pokua has asked Ayisha Modi to stop teasing and laughing at Sarkodie after she compared Sarkodie’s fake UN Awards With Stonebwoy’s Grammy.

    Recently Sarkodie was heavily trolled for allowing himself to be scammed with a fake UN awards though he was not the only one who received the award.

    Few days after this unfortunate incident Stonebwoy got his certificate from Grammy for featuring on Gramps Morgan Avrakadabrah,

    With this and the recent heat that came about after the incident at the recording Sarkodie’s virtual concert, Stonebwoy’s girl Ayisha Modi decided to use the opportunity to tease Sarkodie.

    Afia Pokua chancing on the post that was creating an unwanted enmity between the two artistes, warned Ayisha to stop that which she said in the local dialect.

    Screenshot below;

    ghbase

  • Could There Be A Collaboration Between Wendy Shay And Medikal After This Dope Compliment About His Rap

    Could There Be A Collaboration Between Wendy Shay And Medikal After This Dope Compliment About His Rap

    The self acclaimed queen of Gh Music Wendy Shay was swept off her feet by Medikal’s latest freestyle which he did during an interview at YFM.

    Medikal off loaded some hot and dope bars during his interview at YFM which caught fire on social media after it’s release with fans applauding the rapper.

    Songstress Wendy Shay also fell in love with the new daddy’s freestyle rap and had no choice than to express her satisfaction with a dope compliment.

    Wendy Shay after chancing on the video of Medikal busily giving some hot freestyle, commented under the post saying ‘barsss’ with a fire emoji.

    This little vibe between the two has got social media users imagining and pushing for a collaboration between the two as they feel the two could gel along well and produce a banger.

    Post below;

    https://twitter.com/i/status/1303048774131109888

    ghbase

  • We’ll forever be by your side – Former NDC female appointees to Prof Jane

    We’ll forever be by your side – Former NDC female appointees to Prof Jane

    Former female appointees of the erstwhile National Democratic Congress (NDC) government have pledged their unrelenting support and fidelity to Professor Jane Naana Opoku-Agyemang, vice presidential candidate of the party for the upcoming polls.

    The former Education Minister was appointed on July 6, 2020 to pair former president John Dramani Mahama who is seeking re-election on the ticket of the NDC.

    As part of the campaign strategies in the lead up to the December 7 polls, the party launched its policy document, Monday, September 7, 2020.

    However, to show solidarity with the first woman to occupy the position in the party, some former female appointees of the erstwhile Mahama administration, Tuesday, September 8, 2020 called on Prof Jane Naana Opoku-Agyemang.

    Speaking on behalf of the female appointees, a former Attorney General under the Mills administration, Betty Mould-Iddrisu said the women in the party particularly those who have shared similar positions will not give up in canvassing support in their various regions for her.

    Mrs Mould-Iddrisu said Prof. Jane Naana’s appointment has also presented an opportunity for other women in the party to be heard and also seen.

    “We are proud of what you achieved there (Education Ministry) and we will forever be at your side, sometimes to push you, sometimes to encourage you, sometimes to tell you quite frankly what you might not want to hear so that this great party of ours will be able to succeed.”

    Some former appointees who were present at the brief meeting included former CEO of GNPA, Mary Hanson, Former Deputy High Commissioner to Canada, Abi Adatsi, Member of Parliament for Agona East, Queenstar Sawyer and Former CEO of GIPC, Mawuena Trebarh.

    ghanaweb

  • Rawlings, other NDC bigwigs absent at 2020 manifesto launch

    Rawlings, other NDC bigwigs absent at 2020 manifesto launch

    The opposition National Democratic Congress (NDC) on Monday, September 7, 2020, launched its “People’s Manifesto”, touting it as a better alternative to that of the governing New People’s Party.

    The well-organised and successful event brought together many power brokers within the party to the University of Professional Studies, Accra (UPSA Hall), but also absent were some equally influential personalities within the party.

    Founder of the party, Jerry John Rawlings; a former head of Monitoring and Evaluation Unit at the Presidency, Dr Tony Aidoo; former Governor of the Bank of Ghana, Dr Kwabena Duffuor; the Ahwoi brothers – Kwamena Ahwoi, Kwesi Ahwoi and Ato Ahwoi, who are famed as masterminds of big shifts within the party – were among the notable names absent at the manifesto launch.

    With general elections just three months away, the NDC is keen on rallying the rank and file of the party to forge a united front that will secure victory in the race to the Jubilee/Flagstaff House on December 7, 2020.

    For a party and a presidential candidate, John Dramani Mahama, that lost the last election due to divisions within the party, the need to present a united front is paramount if victory is to be assured.

    According to a committee led by Dr Kwesi Botchwey, a former Finance Minister and a respected member of the party, to find out why then governing NDC lost the December 7, 2016, general election to then opposition National People’s Party  (NPP), issues like divisions within the party – especially among the top echelon – were mentioned as among the reasons for the defeat.

    Although factors such as the party’s internal biometric registration of members, profligate campaign, diversion of campaign cash and materials, public perception of corruption and complacency among others, were also cited as some of the major causes of the party’s defeat, the issue of the division within the party remained prominent.

    Recently, the issue of divisions within the party was stoked again when a book published by Prof Kwamena Ahwoi, made stark revelations in the erstwhile Jerry John Rawlings administration.

    The book was criticised for its badly-timed release and triggered a series of rejoinders from the Founder of the party and other members of the NDC.

    For weeks, the book and the issues it raised reignited perceptions that there are notable cracks within the party, although the party is confident of reclaiming power in December.

    In the lead up to the selection of Mr Mahama’s running mate, there were rife speculations that Mr Rawlings had wanted the NDC presidential candidate to choose, Dr Kwabena Duffuor.

    Curious about the absence of these power brokers within the party – especially the Founder – at the manifesto launch, GhanaWeb sought to inquire if it is evidence that the divisions within the party persist.

    Speaking on the matter to GhanaWeb, a top executive of the party said the absence of these notable persons cannot be indicative of divisions within the party.

    The top executive declined to go on record because the matter of perceived divisions within the NDC shifts focus from the launch of the party’s manifesto.

    However, the top executive mentions that for some time now, Mr Rawlings has not attended any major party event, mentioning that the Founder of the party was absent at a political function organised by his wife, Nana Konadu Agyeman Rawlings.

    The Ahwoi brothers, he stated also rarely attend party events and cannot be construed as divisions within the party.

    “I don’t even remember the last time I saw the Ahwois at any event. They hardly go to any party event. Even Council of Elders [event] that we do it in-camera they don’t come. We have a united front. We don’t have any division in the NDC,” the top NDC Executive said.

    ghanaweb

  • NDC’s manifesto is a robbery of NPP ideas – Adomako Baafi

    NDC’s manifesto is a robbery of NPP ideas – Adomako Baafi

    Former Director of Communications for the Ruling National People Party  Mr. Yaw Adomako Baafi has described the 2020 manifesto of the NDC as untruth, repetition of failed promises, and a shadow of the NPP’s ideas.

    According to the NPP Communication team member, the manifesto put out by the NDC is a masterpiece of frustrations as a result of losing the 2016 elections.

    Defining his assertion in an interview with GhanaWeb, September 8, 2020, Mr. Baafi said, “It’s a combination of lies, repetition of failed but broken promises and then again robbing of NPPs ideas. These were the very things that the NDC presented and brought to us.”

    He explained that the NDC in their manifesto launched at the University of Professional Studies on Monday, gave themselves up by being contradictory in their claims and propositions.

    “The NDC Chairman who was formally their Director of Elections confirmed that if NDC had been elected again they would’ve fixed dumsor. But I was surprised when yesterday out of effrontery and disrespect to the people of Ghana he came to say they fixed the dumsor before their exit….. so if he comes and tells us that they fixed dumsor, you can’t fathom it.”

    The NPP communicator mentioned that he has so far outlined over 20 aspects of the NDC’s manifesto which are either lies or repetition of their 2012 manifesto.

    He said that having failed to implement such policies between 2012 and 2016 when they were in power, the promises repeated by the NDC in their 2020 manifesto can be best be described as unachievable policies meant to deceive the people of Ghana.

    ghanaweb

  • Mahama lacks credibility to deliver manifesto promises – Oppong Nkrumah

    Mahama lacks credibility to deliver manifesto promises – Oppong Nkrumah

    Information Minister, Kojo Nkrumah Oppong has said the flagbearer of the main opposition National Democratic Congress (NDC), Mr John Dramani Mahama, has no credible track record to fulfill the party’s manifesto promises.

    This follows the launch of the NDC’s 2020 manifesto on Monday, 7 September 2020, which the party refers to as the ‘People’s Manifesto.’

    Reacting to the NDC’s manifesto promises at a press conference in Kumasi on Tuesday, 8 September 2020, Mr Oppong Nkrumah said before Mr Mahama became President, he made several promises but achieved very little during his tenure of office.

    “When you take the credibility, the thing is that for the first time, the two persons who are the front liners in this election, have both had the opportunity to occupy the office of President.

    “So, in looking at the credibility of the promises they’re making, one ought to first look at their track record when they were in office and their position on some of the matters they’re speaking to today and it helps anybody who wants to do an analysis understand whether or not you can take any of these promises as credible”, Mr Oppong Nkrumah said.

    The Ofoase Ayirebi MP emphasised that Mr Mahama’s manifesto promises were not credible, as he never believed in some of the policies implemented by the current New Patriotic Party (NPP) government.

    The lawmaker, therefore, wondered how Mr Mahama would implement his manifesto promises that are geared toward expanding the policies of the current administration.

    “So, for example, if you have a leader who, before he became Vice President or let’s say before he became President, promised, as part of his party’s manifesto, that they will bring a one-time premium for health insurance, and for eight years they never did it and today he turns round to say that he’ll make primary healthcare free, does it sound like a credible promise?” Mr Oppong Nkrumah asked.

    He noted that of the two frontrunners in the upcoming December 7 elections, President Nana Addo Dankwa Akufo-Addo looks and sounds more credible in the delivery of promises.

    “If you have a leader who, from 2008 through to 2012, opposed a state providing free education for people at the Senior High School level consistently; ‘it won’t work’, ‘if it would have worked, Kwame Nkrumah would have done it’, ‘if it would have worked, it would take 20 years to come off’, etcetera, and today you have this same person saying that first of all he now believes in it and will now make tertiary education 50 per cent free, you have an opportunity to ask yourself whether or not it sounds like a credible promise.

    “If you have somebody, who, during his period, run down the Ghanaian economy; went to the IMF for a bailout and, as a result, could not employ young people when they were graduating from school, you recall the graduate unemployment associations that were formed, you recall the cancellation of allowances because of economic crisis and the argument that ‘even if they’ll vote against us they should vote against us’, and today, this person comes and says that he’s going to create one million jobs in four years, does this sound like a credible promise?”

    He indicated that in discussing manifestos, the credibility of the person making the promise must be taken into consideration.

    The Information Minister said: “So, the first thing in discussing manifestos is the credibility angle of your track record. What was your track record? The second thing that has been listed, it costs money to deliver mostly, so, you can reduce all the promises to the economy and ask yourself: ‘Who is best-placed in managing the economy so that the economy can find all the money to deliver on the promises?”

    Mr Oppong Nkrumah added: “We believe that Ghanaians are very discerning people, they’ll have an opportunity to look at his track record and what he delivered and what he’s promising and do the comparison.”

    ghanaweb

  • Courageous driver knocks and kills highway robber

    Courageous driver knocks and kills highway robber

    Luck has eluded a highway robber on the Buipe-Tamale road in the Savannah Region as he has been killed after he was knocked down by a vehicle he attempted to rob.

    According to the police in the Central Gonja District, the armed robber was hiding in the nearby bush between Mankpang and Adwoape.

    The killed armed robber who was holding a shotgun, suddenly came out from the bush and shot into the windscreen of the Benz bus with registration No. GR 4336D.

    But the driver who exhibited bravado managed to knock him down killing him instantly. However, his colleague who came on the robbery expedition with him bolted through the bush.

    The driver according to reports could not control the steering wheel and causing the vehicle to fall leaving some of the passengers on board with several degrees of injuries and were rushed to the Tamale Teaching hospital.

    The dead body of the armed robber has since been deposited at the Tamale Teaching Hospital Mortuary with one shotgun, 3 BB live cartridges and one spent cartridge found in his possession.

    ghanaweb

  • NDC manifesto is based on reliable, valid, and verifiable data – Prof. Danso

    NDC manifesto is based on reliable, valid, and verifiable data – Prof. Danso

    Chairman for the 2020 manifesto drafting committee for the National Democratic Congress (NDC), Professor Danso Boafo has said that the NDC decided to draft a peoples policy not because “we don’t have the men like some people make it seem.”

    According to him, as Ghana is a democratic country and they are working for the people, it was imperative that the National Democratic Congress  consulted the very people the document was about.

    He said the manifesto serves as a social contract with the people of Ghana and with which the NDC will deliver to the people of Ghana.

    He indicated that “Our manifesto is based on reliable, valid, and verifiable data”.

    Prof. Danso added that the NDC manifesto has been categorised into six thematic areas that will be tackled if the party wins the December elections.

    Professor Danso who was giving his remarks at the launch of the party’s manifesto said the NDC has a full programme to fight corruption and warned any member of the party who intends to engage in any corrupt activity to stay away because “Operation Sting” will haunt them down.

    ghanaweb

  • SHS teachers shoot down John Mahama’s claims of infrastructure in schools

    SHS teachers shoot down John Mahama’s claims of infrastructure in schools

    Teachers of Senior High Schools in the Ashanti Region under Ashanti Teachers Front (ATF) have discounted claims of massive infrastructural development in the second cycle institutions as claimed by Former President John Dramani Mahama.

    They argue that in terms of infrastructure in second cycle institutions in Ghana, the achievements of President Nana Akuffo Addo are unmatched to that of erstwhile National Democratic Congress (NDC) administration under former President John Dramani Mahama

    “Nana Akufo-Addo’s achievements far outweigh that of NDC’s eight years”, teachers group in Kumasi; Ashanti Teachers Front (ATF) at a press conference addressed by it Secretary, Mr. Michael Mensah observed.

    According to members of ATF, as teachers from select Senior High Schools (SHSs) in the Ashanti Region, having listened to the flagbearer of the opposition NDC, Mr. John Mahama said that he did more than what the current government is doing in terms of infrastructure development and it is necessary for them to set the records straight.

    “As teachers located across the length and breadth of this country, we have seen infrastructural developments on in our various places of work,” Mr. Michael Mensah told press men in Kumasi.

    He also debunked public knowledge that teachers abseentism under previous administration reduced from 27% to 7% as their check as the Ghana Education Ministry indicate otherwise.

    “Whilst the teacher worked for three years and paid him for three months, and expect him to give a maximum best, that was time teacher absenteeism soar up,” the Secretary of ATF disputed Mr. Mahama’s claims of reducing teachers abseentism under his watch.

    “…based on the aforementioned facts the former President John Mahama cannot be trusted with Ghana’s education, especially, the most monumental social interventions policy, Free SHS.”

    ghanaweb

  • Mahama doesn’t have the brains to execute stolen promises – Kennedy Agyapong

    Mahama doesn’t have the brains to execute stolen promises – Kennedy Agyapong

    Aside allegations of ‘intellectual’ thievery, Member of Parliament for the Assin Central Constituency, Kennedy Agyapong has also accused Flagbearer for the National Democratic Congress  (NDC), John Dramani Mahama of spewing unrealistic promises to the populace under the guise of campaigning.

    Mr. Mahama on Monday, September 7, 2020 joined several party executives to unveil the party’s manifesto ahead of the December elections. He among other things, pledged to improve the livelihoods of Ghanaian through job creation and other areas.

    Mr. Agyapong however says the NDC’s manifesto is enough evidence for citizens to vote against the party.

    According to him, many of the policies projected in the 143-paged document were stolen from the NPP’s manifesto which was launched on August 22. He further suggested that Mr. Mahama lacks the ‘brains’ to be able to implement the policies he is selling to Ghanaians.

    Speaking on his ‘The Seat’ show Monday, Kennedy Agyapong said,

    “The promises President Mahama is giving, although he stole a lot of things from our manifesto, even the ones left to do, he can’t because he doesn’t have the brains to. He doesn’t have insight. We’ve seen it before and they can’t do it.”

    “He says, he will create yearly, up to 250,000 jobs every year. So in 4 years of President Mahama, he’ll create 1m jobs. Under President Akufo-Addo, despite the hardships of COVID, as of the time they were writin the manifesto in June, job creation was 2,55000 thousand in 3 years. How will Ghanaians then sell their rights to an incompetent leader who says, when I come into government, I’ll reduce it by 1,55000 jobs, how?

    “..Ghanaians should look back on all the promises they have hammered on, to find out if they have, in previous times, made similar pledges…The manifesto is nowhere near what the NPP presented. Any discerning person can tell the guy was lying through his teeth,” he said.

    He urged Ghanaians to weigh the track records of both the NPP and the NDC, and be discerning with their votes.

    “They aren’t even ashamed of the thievery. It’s so evident even in the manifesto. What is more interesting, and glaring, why the youth of this country should vote massively against President Mahama.

    https://youtu.be/LleHyLL27oI

    “And you try to compare yourself to Akufo-Addo’s administration. If you look at the performance of President Akufo-Addo under a pandemic, we have still managed the economy this way, and yet you can come and say it is reckless, God should forgive him.

    “What I want Ghanaians to know is that, the good records of the NPP, the only party that can develop this country. They say they are social democrats; they are corrupt criminals,” the legislator added.

    ghanaweb

  • Mr Mahama, our votes are not correction fluid – Mustapha Hamid

    Mr Mahama, our votes are not correction fluid – Mustapha Hamid

    Ghana’s December 7, 2020, presidential election is a highly anticipated one as, for the very first time, the race is between a sitting president and a former one.

    Both candidates who have proved themselves as good leaders have in recent times taken to the grounds to garner support for themselves through emotional appeals and promises.

    The Deputy Campaign Manager of the National People Party (NPP) in charge of Communications (Messaging) Mustafa Abdul-Hamid has used the words of a social media commentator to highlight why candidate Mahama cannot lead Ghana again.

    At the NPP press conference held today and monitored by Happy 98.9 FM’s ‘Epa Hoa Daben’ crew, the minister in charge of Inner City and Zongo Development stated, “Mahama says he wants to come back to correct the mistakes he made as president when he messed up big time. Someone gave a response to him and I quote; Mr Mahama our votes are not correction fluids: the fellow added nothing more, I’ll add nothing more.”

    According to the politician, President Nana Addo is the obvious choice for the December 7th elections and he asked Ghanaians to judge both candidate Mahama and President Nana Addo based on intentions and added, “Nana intends to offer leadership of service to transform the country for the good of all Ghanaians and this is a notable intention by any standards.”

    The Member of Parliament  (MP) furthered that people with good intentions make promises but those with good character keep their promises and held the sitting president up high as the latter. He said, “In 2016 we recorded a plethora of promises and from Nana Addo which were bold and transformative. But these promises were considered as not achievable and all doubters have been proved wrong.”

    Mustapha Hamid asked Ghanaians to disregard all promises the National Democratic Congress  (NDC) will make at the manifesto launch this evening as they have a track record of not realizing their promises.

    “The Akufo Addo-led administration has done better than the NDC as he (Akufo-Addo) did what the NDC termed impossible” he reiterated.

    ghanaweb

  • Spillage of Bagre Dam: Govt to provide GH¢29.6m for long-term solution

    Spillage of Bagre Dam: Govt to provide GH¢29.6m for long-term solution

    Government has planned to carry out an urgent exercise at an estimated cost of GH¢29.6 million, aimed at providing long-term solution to the perennial flooding and its related destructions caused by the spillage of the Bagre Dam, the Water Resources Commission has hinted.

    In a statement by the Commission issued to Ghanaian Times on Sunday, the Executive Secretary, Ben Ampomah said, “government wishes to assure the public that, it is committed and is working on short and long term measures to mitigate the impacts of the perennial floods in the White Volta Basin.”

    The exercise, according to the Commission, would include the dredging of the White Volta in the upstream areas of Yarugu (Bawku), Pwalugu, and the confluence of the Sissili and Kulpawn tributaries, which would cover an expected area of about 30km.

    In addition, 42 communities comprised of 25 in Bawku West, five in Nabdam and 12 in Talensi, all in the Upper East Region, would be engaged to ensure that the causes of the floods and the attendant damages are reduced, Mr Ampomah said.

    He explained that there would be documentary production for awareness creation on restoration and stabilisation of dredged river banks, and emergency response.

    Mr Ampomah indicated that the exercise would be done to compliment the ongoing non-structural measures, notably, the provision of forecast and early warning information.

    Other measures, in this regard, include the exchange of data and information on the spills, consultations with managers of the Bagre Dam, community education, awareness creation, and emergency response.

    He explained that the exercise would minimise the impacts of flooding in the upstream of the main White Volta within the Yarugu, Pwalugu, and the confluence of the tributaries.

    Additionally, the dredging, he noted, would improve flows into the Pwalugu Dam, and facilitate flow from the Sissili and Kulpawn tributaries, and, also minimise sedimentation of the Pwalugu reservoir.

    According to Mr Ampomah, the results of an initial interventions carried out in 2019, has proved that dredging of the White Volta river, when done periodically as a maintenance activity would yield greater positive impact.

    “At the end of the rainy season in November 2019 there were no reports of extensive flooding of the dredged areas potentially prone to flooding in the past. The destruction of crops and farmlands also reduced significantly in the area,” he said.

    To date, several farmlands within the upstream sections of the White Volta, especially, the Bawku Municipal, Bawku West, Talensi and Nabdam districts have been flooded through the spillage of the Bagre Dam.

    This situation, the Commission acknowledges, should it prevail in September and November 2020, would affect lives, settlements and human health, while, the financial costs of relief and emergency responses would be colossal.

    Already, six people have died as a result of flood from the spillage of Bagre dam in the North East Region, a situation which was compounded with heavy rains in the area in the past few weeks, destroying several acres of farmlands, and left hundreds homeless.

    The spillage of the Bagre Dam has become an annual ritual, with the Water Resource Commission, , indicating that this year’s opening of spill gates and release of water from the dam has become the earliest, since 2007.

    ghanaweb

  • Here’s what the next NDC govt plans to offer the insurance and pensions sector

    Here’s what the next NDC govt plans to offer the insurance and pensions sector

    The opposition National Democratic Congress (NDC) has pledged to adopt a Risk-Based Minimum Capital approach for the insurance sector should they be given the nod in the upcoming December polls.

    According to the party’s 2020 manifesto, the minimum capital will be linked to the risks an insurance company carries instead of the current fixed minimum capital regime.

    Ghana’s insurance sector which currently has a penetration rate of 2 percent coupled with the coronavirus pandemic could adversely affect the insurance sector in general.

    The National Insurance Commission (NIC) on its part in 2019 increased the minimum capital for insurance companies from GH¢15 million to GH¢50 million.

    The Commission further did the same for Reinsurance companies from GH¢40 million to GH¢125 million.

    While the minimum capital requirement for Insurance Broking companies was also increased from GH¢300,000 to GH¢500,000, the minimum capital requirement for reinsurance broking companies was however maintained at GH¢1 million.

    Insurance firms in the country are all required to meet a June 2021 deadline or face collapse.

    For Pensioners, the opposition NDC has also pledged to pay an annual 13th-month bonus in consonance with the amendment of the National Pensions Act 2008 ACT 76 if elected.

    According to the party, the amendment will also afford workers in the SSNIT pension scheme who have contributed for a minimum period of 10 to 15 years an opportunity to use their contribution as collateral loans for housing.

    “We will amend the National Pensions Act 2008 ACT 766 to improve both service delivery and financial efficiency in the SSNIT pension scheme.

    “It will allow contributing workers such as private teachers amongst others who lose their jobs suddenly due to natural occurrences such as COVID-19 pandemic to be paid stipends while they search for a new job.

    “Allow workers who have contributed for a minimum period of 10 to 15 years to use their contribution as collateral to access mortgage loans for housing. We will pay pensioners an annual 13th-month bonus,” the Flagbearer of the NDC, John Mahama explained.

    ghanaweb

  • NPP adopted a wrong approach in the financial sector clean-up – NDC

    NPP adopted a wrong approach in the financial sector clean-up – NDC

    The opposition National Democratic Congress (NDC) has described the approach of the ruling National People Party  (NPP) in the wake of the financial sector clean up as ‘a wrong one’.

    This was contained in the party’s just launched 2020 manifesto ahead of the December 2020 polls.

    According to the NDC, a recapitalisation and liquidity roadmap for the banking sector was established in 2015 for banks and Specialized Deposit-Taking Institutions to provide credible restoration plans with clear deadlines.

    “A new minimum capital requirement of GH¢230 million for banks was to be announced in early 2017 to be met by end-2019. This was much lower than the GH¢400 million subsequently adopted by the NPP Government without consultations with stakeholders,” the NDC manifesto read.

    “Work was started to update the regulatory framework for banks with the passage, in the third quarter of 2016, of the Bank of Ghana Amendment Act 2016 (Act 918), the Banks and Specialized Deposit-Taking Institutions (BSDI) Act 2016 (Act 930) and the Deposit Insurance Act 2016 (Act 931) and these provided a comprehensive framework for dealing with distressed banks.

    The NPP Government, however, adopted a wrong approach in their contrived financial sector clean-up,” the manifesto said, as read by the NDC’s flagbearer John Dramani Mahama, noted.

    Meanwhile, the Governor of the Central Bank had earlier said most of the collapsed banks and financial institutions that became insolvent due to the financial sector clean-up exercise by the Bank of Ghana  in 2017, were run by persons with “questionable backgrounds”.

    As part of its efforts to restore confidence in the banking and specialized deposit-taking sectors, the Bank of Ghana (BoG) embarked on a clean-up exercise in August 2017 to resolve insolvent financial institutions whose continued existence posed risks to the interest of depositors.

    The clean-up saw the revocation of licenses of 9 universal banks, 347 micro-finance companies, 39 micro-credit companies or money lenders, 15 savings and loans companies, 8 finance house companies, and two non-bank financial institutions.

    The move by the central bank was a comprehensive assessment of the savings and loans and finance house sub-sectors carried out by the BoG in the last few years after it identified serious breaches.

    ghanaweb