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Asantehene calls for investment in technology

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The Asantehene, Otumfuo Osei Tutu II, has called for increased investment in technology as part of the measures to survive in a post-COVID-19 economy.

He said technology had become part of today’s life and the only way for businesses to survive was to invest in it.

Otumfuo Osei Tutu said it was, therefore, imperative to make the right investment now as it was vital to support recovery of the economy.

Speaking at the closing ceremony of this year’s Accountants Conference, organised by the Institute of Chartered Accountants, Ghana (ICAG), held in Kumasi, the Asantehene noted that the country’s response to the pandemic today, would shape the future of the country for years to come.

“We should seize the opportunity to lay the foundation for a durable, equitable and sustainable global economy,” he said.

To achieve that, he said it would require the country to vaccinate itself against the addition of “the debilitating political opus which prevents us from considering and collaborating on matters of national interest.”

He said, “the decision we take and investment we make today, will determine the shape of our world in a decade to come.”

He suggested that Ghanaians looked beyond their political base “and give ourselves the assurance of the expressed support of the informed opinion within the communities.”

Commenting on the role of technology in accountancy, the Asantehene said although digitisation might seem destructive “it gets everything done faster and better.”

He said technology could improve on the accountant’s ability to reduce errors and interpret dates effectively and efficiently, thereby enhancing decision making.

The challenge, however, according to Otumfuo Osei Tutu, would be how, as professionals, they would not only stay updated with more advanced technologies but also adopt them when necessary, to suit the local conditions and environments in order for businesses to stay healthy, productive and competitive in the globalised world.

This year’s conference was on the theme: “Business continuity and sustainable development: the role of technology,” and was held at the Calvary Charismatic Centre (CCC) at Ayigya from May 26 to May 27.

Other activities that marked the weeklong programme included a health walk, dinner dance and a thanksgiving service.

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We will borrow GH¢2.9 billion to pay debts between June and August; Government has announced

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The government of Ghana is to borrow a little above ¢2 billion in fresh funds between June and August 2021, the latest Issuance Calendar released by the Finance Ministry has revealed.

According to Joy News, the government plans to issue about ¢21.96 billion, out of which ¢19.86 billion will be used to pay a maturing debt or rollover maturities.

A chunk of the funds to be mobilized will come from the 91-day Treasury bills, a clear intention of the government’s quest to reduce foreign borrowing, but could crowd out the private sector from access to funds on the domestic market.

The new funds are expected to finance government projects outlined in the 2021 Budget.

In terms of the period, the government will borrow as much as GH¢8.13 billion in the month of July 2021, the highest among the three months.

According to the calendar, the government will issue ¢11.2 billion via the 91-day Treasury bills, whilst ¢1.71 billion will be mobilized through the issuance of the 182-day T-bills.

¢1.8 billion each is, however, expected to be raised from the 3-year, 6-year and 7-year bonds respectively.

Also, ¢1 billion is expected to be raised through the issuance of a 10-year bond in the month of August 2021.

Whilst ¢1.45 billion is expected to be raised via a one year bill, ¢1.2 billion will be mobilized through the issue of the two-year bond.

According to the government, it will issue the 91-day and 182-day weekly and the 364-day bill bi-weekly. Securities of 2-year up to 10-year will be issued through the book-building method.

The government was expected to have borrowed  ¢4.12 billion in fresh funds in the second quarter of this year which will end this month.

Remember, Ghana’s public debt stock rose by ¢13billion to hit ¢304.6 billion in March 2021, the Bank of Ghana (BoG) Summary of Economic and Financial Data disclosed.

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“Prepare for heavy rain” – Ghana Meteorological Agency warns dwellers of these areas

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Ghana Meteorological Agency has noted a strong warning to Ghanaians that nothing aside from heavy rainfall should be expected this June and July.

According to the officials of the agency, this year’s rainfall will be exceptionally heavy and so proper care should be taken especially in slum areas.

However, they made mention of some areas that much attention should be paid to avoid any natural disaster.

It is said in a statement that the following areas in the Southen belt of the country are key places to be flooded;

Aflao, Ada, Aaktsi, Ho, Tema , Accra, Kpong, Somanya Koforidua, Akim Oda, Nkawkaw ,Anyinam ,Winneba, Cape Coast , Senya Breku, Elmina ,Tarkwa, Twifo Praso, Assin Fosu, Dunkwa On Offin, Breman Asikuma, Sekondi-Takoradi, Axim, Asankragua, Bekwai Jamasi , Mampong, Juaben, Kumasi and Their Environs.

The Northern sector, on the other hand, is expected to be generally cloudy with intermittent rains in the week

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Accra: Disaster looms as articulated truck skids off Kwame Nkrumah Circle overpass [Video]

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An articulated truck with registration number GT 8387 X said to be carrying gallons of engine oil has skidded off the Kwame Nkrumah circle flyover.

The accident occurred on Friday, June 11 at about 9 PM.

Andrew, an eyewitness, told TV3’s Johnnie Hughes that the brakes of the truck failed, forcing the vehicle to recess.

The driver, in an attempt to navigate the vehicle towards the rail, burst a rear tyre and lost control.

The fire service and police were at the scene as of the time of filing this report.

Check Out Video Below:

Source: 3News.com

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