Financial sector must act swiftly to save banking sector redundancy – Akoto Osei

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Banks A ranking member of the Finance Committee in Parliament Dr. Anthony Akoto Osei says he fears an imminent redundancy within the banking sector if the financial sector is not strengthened within the shortest possible time.
With the Ghanaian banking sector experiencing shrinking revenue owing to increasing rates of loan-defaults, banks operating in the country are preparing to layoff considerable amounts of workers. “The banks are suffering and I’m not saying what they are doing [charging high interest rate] is right but majority of our banks in Ghana if we are not careful may collapse,” he said It is believed that about 150 workers will be affected by redundancy within the banking sector. Meanwhile, some workers have indicated their readiness to accept the retrenchment offer since the package is expected to be good. Already, some banks have laid off some workers, mainly contract staff in order to lessen the effect of the economic hardship on their businesses. Speaking on 3fm’s Sunrise Morning Show, Tuesday, Dr. Akoto Osei charged the financial sector to put in the necessary efforts to stabilize the economy to enable business to grow and also provide income for individuals. “The non-performing is high and depositors are not putting money there, so they are suffering that is why they are putting their money in treasury bills. “The financial sector itself is very weak so don’t be surprised if very soon you see a lot of banks laying off people. “It was put in the papers not too long ago and I know some banks have already done so and I don’t want to mention their names. “The Bank of Ghana commissioned some independent auditors to look at the books of all Banks in Ghana and the story was not good. “Their books are bad and a lot of it is NPL’s because businesses are not earning enough and nobody will buy them even if their assets end up being confiscated.”   Story by Nana Afrane Asante | 3news.com

Ghana players congratulate Leicester pair

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Schlupp and Amartey
Schlupp and Amartey
Black Stars players have taken to social media to congratulate teammates Jeffery Schlupp and Daniel Amartey after their historic triumph in the English Premier League with Leicester City.
Schlupp, Leicester Player of The Year last season returned from injury to play a key part in their title challenge while Amartey joined on loan from FC Coppenhagen in January and started one game. If both players get winners medals, the triumph will put them alongside Michael Essien who won the premier league title during his time at Chelsea. essien tweet Essien was one of the first players to congratulate Leicester and their Ghana pair after the game.  “History has been made. Congratulations to Leicester City, Jeffery Schlupp and Daniel Amartey for winning the Premier League. Well done,” he tweeted. andre tweet Swansea City’s Andre Ayew called the triumph a great win in a tweet. “Congrats Daniel Amartey and Jeffery Schlupp. Great win.” Defender Jonathan Mensah said the victory was a triumph of a hard working team  “Congrats to Jeffery Schlupp and Daniel Amartey for this great achievement. Definition of hard working team,.” He said in a tweet. And his international team mate Christian Atsu reckoned it proved impossible is nothing. “Congratulations to Jeffery Schlupp and Daniel Amartey for winning the Premier League. Impossible is nothing.” By 3news.com|Ghana

Central AG Band are TV3 Talented Kidz Season VII winners

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IMG_7826 Central AG Band put up a stellar performance to a large crowd at the National Theatre in Accra Monday evening to emerge winners of TV3’s Talented Kidz season seven.
Action Boys emerged second while Winston Kojo placed third. The band beat stiff competition from seven other finalists who all put up a great performance to bring the curtain down on the 13-week thriller show that seeks to give platform to kids to unearth their talents. Louisa Robertson, Abraham Quaye, Central A/G Band, Kidie Roayal Band, Action Boys, Winston Jojo Danquah, Unique Dancers and Kurt Ansah Frimpong made it to the final after they proved their worth in the competition, which started off with scores of talented kids. After rounds of performances, the eight finalists was cut to four – Central AG band, Winston Jojo, Kiddie Royal band and Action Boy – to battle it out for the ultimate prize. The Central AG Band ended the first stage of the show with Go Higher and Kakai by Stonebwoy and Shatta Wale respectively. The group did not disappoint as they performed the song to the admiration of the large cheering crowd. At the end of the show, it became evident that Central Band was going to be declared winners considering their outstanding performance, which not only wow the audience but the judges for the night. Central Bank took home a cash prize of GH16, 000. “We would like to say thank you to TV3 for giving us this platform to do our best. We would also like to say thank you to the Almighty God,” the group said in acknowledgement of their feat. Monday’s show started at 4:30pm with choreography from all the contestants before Action Boys kick started the show with a sublime piece of drama followed by the Kiddie Royal band with two highlife tunes by Dr. Paa Bobo whiles Abraham Quaye thrilled the fans to Bisa Kdei’s hit song Baba. Winners of last Season six, Star Dance Crew lighted the stage with some electrifying dance moves before Louisa Robertson performance of Fuse ODG’s Antenna, which attracted wild cheers from the crowd. Winston Jojo showcased his skills on the keyboard with a very good performance after which Odehye Kurt in an inspiring compilation of all festivals in Ghana produced a rap song that blew the minds of the charged up crowd. There was also a special guest performance by Ghanaian highlife artiste Nero X IMG_7816IMG_7820IMG_7805IMG_7782IMG_7799IMG_7802IMG_7814IMG_7809IMG_7784 By Nana Afrane Asante | 3news.com

Fishermen finger Mahama over fishing industry collapse

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Fishing Fishermen from the Central Region have expressed their displeasure at the collapse of the country’s fishing industry blaming the John Mahama-led government.
They said the worsening economic conditions, rising cost of living, and the blatant flouting of fishing laws in the country under the watch of the President Mahama in the last seven years have contributed significantly to the collapse The fishermen said this when they met with the New Patriotic Party presidential candidate, Nana Addo Dankwa Akufo-Addo at Elmina on Monday. Mr. Kobina Baidoo, one of the leaders of the fishermen who laid their concerns before Nana Akufo-Addo, noted that fishermen in the last seven years, have been unable to keep up with the prices of inputs needed for the smooth running of their operations. “When President Rawlings left office, the price of an outboard motor was GH¢1,600, and by the time President Kufuor left office the price was GH¢2,950. Under President Mahama, the price of an outboard is now GH¢12,000,” he said. He added that “a gallon of premix fuel under President Rawlings sold for GH¢0.40p and increased to GH¢1.80 when President Kufuor left office. The price under President Mahama is now GH¢7.30 a gallon.” Even at this “exorbitant price”, Kobina Baidoo noted, that fishermen are unable to get premix fuel to buy because, according to him, “the Mahama government only distributes it to cronies, NDC constituency executives and NDC members”. In the quest for power, the fisherman from Elmina recollected how then candidate Mills told fisherfolk that, because President Kufuor did not hail from the coastal belt, he did not have sympathy for people from the coast. “However, upon winning power in 2008, they are the ones who have destroyed the fishing industry. As we speak, we have over 500 pair trawling vessels operating on our seas, and leaving us with no stocks. “We can’t even, on our own, purchase outboard motors. This is the reason why the Mahama government is sharing outboard motors in an election year, all because of politics. If we could purchase the outboard motors by ourselves, why would there be any need for government to bring us outboard motors at subsidised prices? It is because the fishing industry has collapsed, that’s why we cannot buy these inputs ourselves,” he concluded. Hardship, collapse of social interventions The Chief fisherman of Aboadze, Nana Adams bemoaned the suffering and hunger currently prevailing along the coastal areas of the country, attributing it to the dramatic upsurge in illegal fishing activities, the collapse of social intervention policies introduced by the NPP, corruption and thievery in high places of government. He indicated that the Kufuor-led NPP government, of which Nana Akufo-Addo was an integral part, put in place measures that cushioned fishermen from every part of the country. Those measures, he stated, had collapsed under President Mahama. “The wives of fishermen were given free maternal care whenever they got pregnant. In fact, they delivered for free. The NPP introduced the school feeding programme, introduced the National Health Insurance Scheme, amongst other social intervention programmes. All these measures brought relief to fishermen and our families. All these measures have collapsed,” he added. Pair trawling Agya Adams also blamed the rise in “illegal fishing methods” as a major contributory factor to the collapse of the industry, stressing that the laws governing fishing are being flouted with impunity under the Mahama government. “The issue of pair trawlers is destroying the industry. I am reliably told that officialdom own most of these trawlers. Indeed, I can say for a fact that the Vice President is importing 20 trawlers into the country. Whilst we are struggling to rid our seas of pair trawlers; the Vice President is bringing in more. Over-fishing is what is destroying our seas and our fishing stocks,” the Aboadze Chief fisherman alleged He continued, “because the industry has collapsed, we don’t even have a cold store in Elmina. We don’t even get fish let alone send them to cold stores for storage. This government has deliberately collapsed the fishing industry, so we have no choice but to give it to another person, and that person is Nana Akufo-Addo.” Together with Chief fishermen from the major fishing communities in the region, they indicated their resolve work to work in ensuring that “Nana Akufo-Addo wins the election to save the fishing industry.” In return, the fishermen want Nana Akufo-Addo to construct a warehouse for them to house their inputs, and also serve as a retail store for the entire fishing belt; the establishment of a special bank for fisherman to aid in the acquisition loans and credit facilities for their operations; and ensure direct linkage between the Ministry of Fisheries and fishermen. Nana Akufo-Addo who shared in their concerns was not happy about how expensive fishing inputs have become, particularly premix fuel, outboard motors and fishing nets. He urged the fishermen to work hard to get the NPP back to power to restore sanity into the industry, noting his government would implement sound policies that will boost the industry to ensure an improvement in their lives. By Kwame Kakraba|Onua 95.1FM|3news.com

Prospective voters stranded as EC goes on break today

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File photo
File photo
Prospective voters who turned up at the various registration centers to participate in the Electoral Commission’s (EC)’s limited voter registration exercise Tuesday morning have been left stranded.
Unfortunately for them, the EC is taking a break in the 10-day exercise today – May 3 – but due to poor communication, the information did not get to a lot of prospective first time voters. A visit to most centers in Accra reveals that even though the exercise is not ongoing today, people have trooped to the various centers to register. Most of them, who are youth, were angry at the EC and explained h ow dejected they were to Onua News especially when they have no one at the various centres to clarify things to them. At Mamprobi IBE in the Ablekuma Central Constituency, the youth told Onua News reporter, Obaaku Amponsah the EC has wasted their time. Some said they came there at dawn to register but they were alerted by the people around that centre that the exercise has ended at the venue; it will resume at the Mamprobi Girl School tomorrow, Wednesday 4th May, 2016. The nationwide limited voter registration exercise is expected to enter its second phase from Wednesday, May 4, 2016. The exercise, which started on Thursday, April 28, has seen Ghanaians aged 18 years and above registering at various centers. The second phase will see officers of the Electoral Commission stationed at different centers within each of the 275 constituencies. The exercise has been dotted by violence at some centers with complaints of poor education leveled against the Commission. It is scheduled to end on Sunday, May 8.   Story by Kweku Antwi-Otoo/Onua FM

Chaos at Okorase; car set ablaze over disappearance of carpenter

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Okorase Residents of Okorase in the Akwapim North District of the Eastern Region on Monday evening went on the rampage, setting ablaze a car to register their displeasure over the sudden disappearance of one man.
The angry residents say the Police has been dragging its heels in investigating a fetish priest who they suspect of being behind the disappearance of the 35-year old carpenter, Kojo Yebaoah. The Police on Monday kept the priest in its custody to protect him from being lynched by the residents after a search team failed to find the missing carpenter. As residents massed up to the Police Station with tempers flared, the Police moved the priest from their custody to an unknown location amidst firing of warning shots but that did not scare the residents from approaching the Police Station. Screen Shot 2016 05 03 at 6.18.15 AM A car belonging to the priest, and parked along the roadside in front of the Police Station was set ablaze by the angry residents, causing traffic on the road. The residents did not understand why the Police was protecting the priest who it said has failed to investigate the priest for the disappearance of the carpenter. For over three hours, the Police could not control the crowd who pelted them with stones until reinforcement arrived to bring the situation under control. Personnel from the Ghana National Fire Service were called in to extinguish the fire but the car was totally burnt. Family sources told TV3 that Ntow left home three weeks ago in the company of two others including the fetish priest in search of some special “green bottles” to sell for money. According to them, Yeboah never returned and all efforts to reach him on phone and other means have not yielded any result. The family sources say they later saw the priest in the town, and quickly reported the matter to the Police, who met with them and the priest after which an agreement was reached for a search team to be dispatched to Apam in the Central Region where the three had gone in search of the bottles. On Monday, the team comprising Police officers, family members and the priest went to Apam to search for Yeboah but did not find him. They then returned to Okorase. “Rituals and other efforts did not help find the body or give a clue or direction to the whereabouts of the missing man,” one family member told TV3. Screen Shot 2016 05 03 at 6.19.05 AM In view of the development, the Police sensing danger, decided to keep the priest in its custody to avoid him being lynched by the angry residents but that infuriated them the more as they suspected the Police was shielding him instead of investigating him. Meanwhile, although calm has been restored, tension is still high in the area. By Yvonne Neequaye|3news.com|Ghana

Soulama blunder gifts Kotoko SuperClash victory

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Soulama Abdoulaye
Soulama Abdoulaye
A one-man horror showing by former Kotoko goalkeeper Soulama Abdoulaye gifted Kotoko all three points in a gripping Super Clash encounter against rivals Accra Hearts of Oak.
The Burkina Faso international who spent seven years at Asante Kotoko directed a simple back pass into his own net under no pressure to give Kotoko dirt half lead that they went on to defend for a famous win. soulama challengeSoulama was later sent off for a rash challenge on Dauda Mohammed even when Robin Gnagbe was policing the striker. That red card brought the two sides level on ten men each after Kotoko left back Tuffour Frimpong, son of Kotoko legend Frimpong Manso was sent off for two poor tackles. Rather than weaken Kotoko, it seemed to strengthen them and the goal was ample evidence of that. Afterwards the Porcupine Warriors defended eight remarkable effort but they also kept their lead in part to some poor finishing by the Phobians. Cosmos Dauda, hero of last week’s win at Ashanti Gold headed an effort wide after the break and blasted a volley slightly off when it was easy to score. And when Soulama was sent off with a straight red card midway through the second half , the die was cast. A tearful Michael Osei could hardly say a word, only giving thanks to his team. He has now supervised two league wins out of four in charge of Kotoko including two on the road. They now sit four points behind Hearts who are in second place. Hearts missed the chance to go top of the league and their coach Kenichi Yatsuhashi claims it was down to bad luck. Given the individual errors and Soulama’s poor showing, it is fair to say this was more than luck. By 3news.com|Ghana

Police chase NPP’s Chairman Wontumi, declare him wanted

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The Ashanti Regional Chair
Bernard Antwi Bosiako
Bernard Antwi Bosiako
man of the New Patriotic Party, Bernard Antwi Bosiako, has been declared wanted by the Police in connection with a case of assault against him.
The Police in the Ashanti Region say Mr Boasiako has since Sunday refused an invitation to appear before it to answer allegations of assault brought against him by two NPP members. Mr Boasiako at Krofom in Kumasi allegedly assaulted Member of Parliament for Manhyia North, Collins Amankwah, and the Constituency Secretary, Felix Ibrahim on Sunday. The two subsequently lodged a complaint with the Police who then invited Mr. Boasiako who is popularly referred to as Chairman Wontumi. It is not clear what prompted the firebrand Regional Chairman to allegedly assault the two members of his own party An invitation was thus issued to Mr Boasiako, the Police said in a statement issued and signed by ASP Yusif Tanko Monday, but did not state the form in which the invitation was issued and whether the suspect has since received it. According to the Police, Mr Boasiako has “since refused to honour the invitation” adding “instructions have therefore been issued to the Regional CID to have Chairman Wontumi arrested to assist in investigation”. The Police say it will “be in his own interest” to immediately report to the Police to answer the offence of assault he has allegedly committed against the two members of his party. By Stephen Kwabena Effah|3news.com|Ghana

DPSI Ghana students showcase amazing talents

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DPSI 08 PARTICIPANTS The Delhi Public School International (DPSI) Ghana, a world class school in Tema has held its 6th Annual Day celebration with the students demonstrating their talents in various competitions.
The students prove their prowess in singing, drumming and dancing to a variety of local and international cultural rhythms. The school choir and the school band also mesmerized the crowd with their scintillating performances. Before climaxing the day with an educative play dubbed ‘Pride Goes Before A Fall’, students again showcased their knack for international music and dance when a group called ‘Western Boys and Girls’ performed a repertoire of foreign songs to the admiration of the audience. Nana Oye Lithur, Minister for Gender, Children and Social Protection who was the special guest speaker said Ghana was delighted with the innovative methods DPS International Ghana has adopted to equip the students with the necessary skills to help them in decision-making, problem solving and critical thinking that meet the demands of a fast changing world, adding that “this is exactly what quality education is all about.” She was enchanted by the height attained by DPS International, Ghana within six years of its existence, and encouraged management and staff of the school to continue with their good works. Mrs. Oye Lithur, however, challenged management and teaching staff of the school not to rest on their oars but continue to strive harder for better laurels “Dear students, in today’s competitive world, education is a very vital tool. Nothing will have, as great an impact on your success in life, as your education. The opportunities that will open to you in life will be determined by the education you receive. Deep down in the hearts of us all we want to be leaders; leaders in governance, in science and technology, in the creative arts, in health, in academia, sports and what have you. But no matter the field of the career you choose, you will need an education to pursue it.” The Minister tasked the students to put their maximum in all they do, saying “Set for yourselves a duty to strive for excellence. Our world is in dire need of leaders, innovators, creators and problem-solvers.” She was optimistic that DPS Ghana would continue to make impact in the provision of quality training and education that contributes not only to national development but international development. “Our world is a global village and providing world class education has become fundamental to development. The efforts of DPS Ghana greatly complement government’s work in the nurturing of future leaders we all desire to see. Together, we are drawing our world one step ahead,” she emphasised. Mrs. Mawuena Trebarh, Chief Executive Officer (CEO) of Ghana Investment Promotion Centre (GIPC) said education is what translates into quality of life in every country saying that “a major company like B5 Plus Ghana, a related company of DPS International Ghana is investing so much in Ghana to complement her efforts.” She indicated that talents exhibited by the students of DPS International Ghana were at par with students across the globe, a level she believed the DPS students attained through the perseverance attitude inculcated in them. The CEO of GIPC urged the students to pursue service which she said would help them acquire the highest honour. Mrs. Trebarh advised the students to pursue excellence to become a leading member of the country and the world, noting that “Delhi Public School students always want to do better than the best in everything.” On his part, Jeeva Sagar, Indian High Commissioner to Ghana advised the students to always be of good behaviour. He urged them to strive for excellence, honesty, integrity devoid of stealing, principles, he said, will help them become successful and responsible adults in the future. The Indian High Commissioner urged management of the school to continue educating the children to develop their moral character. Mr. Mukesh V. Thakwani, Director of DPS International Ghana reiterated the school’s commitment of ensuring that their students achieve the best through academic and nonacademic development. He promised additional investment in the school to ensure that quality is served to the students, applauding all dignitaries present for their contribution to make the programme a success. Principal of the school, Mr. David Raj was optimistic of the future based on the massive investment management is injecting into the school. He advised the students to continue to study hard to enable them hit the peak position in any competition they participate in. DPS International Ghana has won several awards since its establishment some six years ago. Some of the recent laurels include Best IGCSE School of the year and the Best ‘A’ School of the year. The students emerged with topmost positions in the International Spelling Bee and Essay Competitions as well as in mathematics, science and technology competitions held in Ghana and on international platforms.

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Mr. Mike Thakwani, Director of Delhi Public School International (DPSI), presenting Mrs. Mawuena Trebarh with a token of appreciation.

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Mr. Mike Thakwani, Director of Delhi Public School International (DPSI), enjoying the event with Nana Oye Lithur, Minister for Gender, Children and Social Protection.

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Mrs. Mawuena Trebarh said education is what translates into quality of life in every country.

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Nana Oye Lithur was delighted with the innovative methods DPS International Ghana has adopted to equip the students with the necessary skills

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Indian High Commissioner to Ghana advised the students to always be of good behaviour and urged them to strive for excellence, honesty, integrity devoid of stealing.

Source: 3news.com

Wearing tattered jeans gets you closer to poverty – KKD

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KKD
KKD
Ace broadcaster Kwesi Kyei Darkwa (KKD) says wearing tattered clothes which has been the trend of some young Ghanaians and across the world makes one too close to the reality of the poor. Tattered jeans has become one of the popular trend of fashion lately with most young people wearing clothing that are ripped in one way or the other. Some jeans are originally tattered whilst others are done intentionally. KKD who is known for his good sense of fashion made it clear, in an interview with TV3, that he wasn’t a fan of tattered clothing and believes wearing them makes you no different from the poor. “I have never liked wearing tattered clothing and that style of clothing is called grunge “For me grunge is too close to the reality of the poor and when you are not poor or when you have not been raised to see yourself as poor, to make that conscious effort to look as though you are poor I think has something that has steep in the psychology of people that I don’t understand. “Human beings are generally aspirational so if you want to make a statement with your tattered clothing then that’s fine but that’s not for me. “It’s never been a trend and one of my favorite designers of all time Giorgio Armani also talks about the fact that he sees young people can make it look attractive but this whole concept of grunge growing up the way he did and the way he saw poor people who had nothing to wear but tattered clothing, he doesn’t think it’s something that people should make as a choice. “It is something you do as a necessity but that choice to look as though you have nothing to wear when you have actually spent maybe a $1000 to buy something that makes you looking like nothing to wear for me is a bit confounding”. Story by Nana Afrane Asante