The Bibiani Circuit Court has sentenced a 30-year-old farmer to 12 years imprisonment with hard labour for defiling an 8-year-old girl at Sehwi Kwame Tawiakrom in the Western North Region. The presiding judge, His Lordship Caleb Abbaido said the culprit acted contrary to Section 101 of Criminal Offences Act, 1960 [Act 29]. The prosecuting officer, Chief Inspector Agyeman Benjamin explained to the court that on January 16, 2023, at about 2:00pm, the convict, Kwadwo Asare left home to work on his farm which is very close to the victim’s residence. He therefore called the 8-year-old girl to accompany him to…
Author: herbert
The bond market declined by about 52.50% year-on-year in market turnover in the month of February 2023. According to the Ghana Stock Exchange’s Summary of February 2023 Market Activities, the month closed with a total volume trade of 9.17 billion. This however represented a decline of 9.48% compared to the total volume traded in January 2023. Meanwhile, the stock market performed better in February 2023, compared to January 2023. According to the GSE, the GSE Composite Index did well in February 2023 to recover some of the losses recorded earlier in the year. Both the Composite and Financial Stock indices…
Image credit: Jose Luis Magana/AP Photo Government rejected all the bids for the sale of Treasury bills from investors on Friday March 3, 2023. Joy Business learnt that government rejected the offer because the 35% plus interest that the investors, largely banks were quoting were too expensive. It was seeking to raise ¢2.78 billion from the T-bills this week to refinance maturing bills worth ¢2.55 billion, but it described the yield as too expensive Joy Business further understands that the government wants yields of below 30%, hence rejecting all the bids from the investors. It is believed that government is…
Mr. Kwaku Agyeman-Manu – Minister for Health Health Minister Kwaku Agyemang-Manu has been summoned to brief Parliament today, March 7, over the shortage of childhood vaccines in the country. He was scheduled to appear in the House on Tuesday, February 28, but failed to show up. As a result, the Minority got angry and lambasted him for his disrespect for the House. In fact, a member of the Health Committee of Parliament, Mohammed Mubarak Muntaka described the conduct of Minister as disrespectful. The former Minority Chief-Whip asked for Mr Agyemang-Manu to be subpoenaed for not appearing before the House. However,…
Bola Tinubu arrives at a polling station before casting his ballot in Lagos last week Ruling party candidate Bola Tinubu has been declared the winner of Nigeria’s disputed presidential election. The 70-year-old veteran politician got 36% of the vote, official results show. His main rival Atiku Abubakar polled 29%, and Labour’s Peter Obi 25%. Their parties had earlier dismissed the poll as a sham, and demanded a rerun. Mr Tinubu is one of Nigeria’s richest politicians, and based his campaign on his record of rebuilding the biggest city, Lagos, when he was governor. He was nevertheless defeated in the city…
Nigeria elections Nigeria’s President Muhammadu Buhari has congratulated president-elect Bola Tinubu, saying he is the best man for the job. “I shall now work with him and his team to ensure an orderly handover of power,” the president said in a statement. Mr Tinubu’s win has been disputed by opposition parties, who have demanded a rerun. President Buhari is stepping down after two terms in office. He acknowledged challenges in the voting procedure, but said there was no doubt to the “freeness and fairness of the elections”. “If they [opposition parties] feel the need to challenge, please take it to…
The government will raise ¢2.78 billion from Treasury bills this week to refinance maturing bills worth ¢2.55 billion. This will be issued via the 91-day, 182-day and 364-day T bills. In recent times, the government has been borrowing heavily on the treasury market to refinance maturing debts and also build buffers amid the Central Bank zero financing. Last week, the government accepted all bids tendered for the T-bills auction and raised ¢5.07 billion. The uptake exceeded the auction target of ¢2.89bn by 75.66% and almost doubled the refinancing obligation. Yields declined across the T-bill curve as strong investor demand supported…
A Senior Research Fellow at the Institute of Fiscal Studies, Dr. Said Boakye, has said that Ghana will secure an International Monetary Fund programme despite the slow pace in meeting some key criteria. He, however, maintained that the deal will take some time to be achieved. The country is undertaking a debt restructuring with its external creditors, whilst pursuing a fiscal consolidation programme. But Dr. Boakye tells Joy Business that the government is its own enemy by failing to adhere to principles of the Fund programme. “I believe that in the end, Ghana will be able to secure a deal…
Selorm Adadevoh is CEO of MTN Ghana Leading mobile service provider, MTN Ghana, recorded a 42.7% year-on-year growth in profit in 2022 to ¢2.85 billion. According to its 2022 Audited Financial Report, service revenue grew by 28.3% to ¢9.9 billion. This was supported by good subscriber management amidst the national SIM re-registration programme, increased investment in the network and the diligent execution of commercial initiatives in voice, data and Mobile Money services. It added 3.3 million subscribers to its subscriber base and invested ¢2.1 billion in total capital expenditure to support the modernisation of infrastructure, improve IT systems and expand…
Finance Minister Ken Ofori Atta A group of bilateral chambers of commerce have expressed worry about the threat the current economic challenges is having on the country as a leading and favorable destination for business and investment in Africa. Made up of the American Chamber of Commerce Ghana, the UK Ghana Chamber of Commerce, Canada Ghana Chamber of Commerce, CCI France Ghana and the European Chamber of Commerce in Ghana, they also want government to address the perceived predatory nature and outright harassment by Ghana Revenue Authority (GRA) officials in the conduct of audits and the resulting imposition of penalties…
