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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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J A Kufuor made you rich with GH¢80million contract – Captain Smart to Kennedy Agyapong

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Popular Ghanaian media personality, Captain Smart, has rubbished claims by the Member of Parliament for Assin Central, Kennedy Agyapong that he is a self-made millionaire.

The host of Onua FM morning show alleges that Kennedy Agyapong owes his wealth to former President John Agyekum Kufuor who gave him an GH¢80million contract years ago.

Captain Smart adds that the particular contract was for Kennedy Agyapong’s firm to supply air-conditioners to ministries and other government agencies, which proceeds formed the bedrock of Kennedy Agyapong’s success.

On the Thursday, July 22 edition of his show, Captain Smart challenged Kennedy Agyapong to provide evidence of the wealth he acquired before the John Agyekum Kufuor era.

He however dismissed assertions that Kennedy Agyapong’s riches were due to the sale of drugs

“When people rose against you that you sold cocaine I told them it is not correct. I know how you were once beaten in Texas. When you were in the US you weren’t selling cocaine.

“It is JA Kufuor who gave you an GH¢80million contract to supply air-conditioners to ministries and agencies across the country. If all Ghanaians had the benefit of such contract, everyone would be rich. And you had the effrontery to insult JA Kufuor, a hand that fed you. I’m not scared of you so don’t try intimidating me he said.

“Take it cool because I’m not scared of you. Show Ghanaians document of the house you owned in 1975. You became rich when JA Kufuor became President of this country. We know but you had the effrontery to insult JA Kufuor. He made you who you are today,” he added .

 

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First Lady commissions new First Atlantic bank waiting lounge at Korle-bu hospital

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First Lady Mrs. Rebecca Akufo-Addo has commissioned a new waiting lounge at the Korle-Bu teaching Hospital in Accra.

The one hundred and fifty (150)-seater capacity lounge, constructed by First Atlantic Bank, upon a request by Mrs Rebecca Akufo-Addo will serve visitors and relatives of patients detained at the Emergency wards of the hospital, namely the Accident Emergency Department, Trauma Unit and the Paediatric Intensive Care Units.

In a brief speech to commission the facility, Mrs. Akufo-Addo who is also Executive Director of The Rebecca Foundation recalled that in May 2019 when she commissioned the Rebecca Akufo- Addo Paediatric Intensive care Unit constructed by the Rebecca Foundation, she observed with worry that though Korle Bu is the largest Hospital in the country with about Two thousand (2000) beds and close to one thousand five hundred visits a day, it lacked a decent waiting area for visitors and relatives of patients who were detained at the Hospital’s emergency wards.

She said the sad state of already traumatized visitors having to wait under trees and other uncomfortable places for news of their hospitalized loved, ones urged her to work through the Rebecca Foundation to request the First Atlantic Bank to provide a decent waiting area to offer comfort, safety, peace of mind and protection against the vagaries of the weather, to visitors and relatives of the hospital’s patients.

“I expressed my desire to find a solution to Dr Okoe Boye, who was the Board Chair of Korle Bu at the time. We approached some corporate institutions, including the First Atlantic Bank, to build a waiting area for Korle Bu. Fortunately, our proposal for a waiting area was in line with the Corporate Social objectives of the bank. The Managing Director of the First Atlantic Bank, acknowledged the enormous relief that such a project would bring to citizens, who have to wait as their relatives and friends undergo medical care”.

The waiting lounge is fitted with washrooms and other auxiliary facilities that may be needed by visitors including banking solutions to those who might require financial services.

The First Lady charged the management of Korle-Bu Hospital to ensure that the place is well maintained while entreating visitors to the facility to keep it clean and adhere to all hygienic protocols.

Managing Director of First Atlantic Bank, Mr. Odun Odunfa said his institution in meeting their corporate social responsibilities is very proud to associate with the First Lady and The Rebecca Foundation to execute humanitarian projects to enhance the welfare of society and assured Mrs. Akufo-Addo of his bank’s continuous support to the Rebecca Foundation.

The Chief Executive Officer of the Korle-Bu, Dr. Opoku Ware Amposah, on behalf of management and staff of the hospital expressed their profound gratitude to the First Lady and Management of First Atlantic Bank for a beautiful facility which he said will go a long way to provide some comfort to relatives and friends of patients in their Emergency wards.

Mrs. Akufo-Addo also used the occasion to visit the Rebecca Akufo-Addo Paediatric and Intensive Care Unit (PICU) which was also constructed by the Rebecca Foundation on the premises of the Korle-Bu hospital to observe the facility’s usage and maintenance by patients and management.

She expressed satisfaction at how well the facility has been maintained and encouraged management to continue with their exemplary maintenance culture to ensure that such facilities stand the test of time.

She also assured all present that the Rebecca Foundation is committed to the well-being of Ghanaian women and children and will continue to work earnestly, in their interest.

 

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Busted! Net2 TV drops fake certificate of Captain Smart online

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NET2 TV has dropped a fake certificate of Ghanaian popular journalist Captain Smart on Facebook.

Captain Smart after picking up a beef with Kennedy Agyapong has become a sworn enemy to the loudmouth MP and his media house.

Just recently, he warned Kennedy Agyapong to get himself prepared because he’s ready to match him boot for boot. He said that Kennedy Agyapong was fighting for the right of the citizens and so he decided to pay deaf ears to him but things are getting out of mind and therefore needs to react.

Even though we cannot state clearly that it is because of the raffle between the two that has triggered the media house to post the certificate of him, you need no rocket scientist to tell you that Kennedy Agyapong is behind it all.

More so, one cannot state emphatically if the certificate is truly fake.

However, check it out yourself.

 

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