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“Ghana is going to create 10,000 millionaires within the next 10 years” – Gov’t projects

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The govt of Ghana has projected that in the next ten years, Ghana will produce ten thousand millionaires.

This was made known by John Ampntuah Kumah, the Deputy Minister-designate for Finance following the policies the govt has implemented so far which is believed that in the coming years, it will yield good fruit.

According to him, this will be made possible through youth entrepreneurship, adding that tenure as Chief Executive Officer of the National Entrepreneurship and Innovation Programme (NEIP), the government provided funding to more than 9,000 businesses that can scale up to employ more people with further support.

While addressing the Parliament’s Appointment’s Committee on Wednesday, June 9, 2021, to be vetted as a Deputy Minister for Finance.

“As the Chief Executive Officer of NEIP, I oversaw the training of 45,783 businesses on various business management practices under the Presidential Business Support Programme and also disbursed funds ranging from GHC 2,000 to GHC 100,000 for 9,350 businesses. These businesses are all doing well and if more capital is injected into their businesses they can scale up and become giants in their areas,” he said.

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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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