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3 Business holds maiden Economic Summit
Media General has organised a maiden 3Business Summit which brought economists together to proffer solutions to Ghana’s economic woes.
The event dubbed The Economic Sustainability Summit was held on Tuesday, April 4, at the Marriot Hotel in Accra.
Addressing the summit in his opening address, the General Manager of 3Group, Francis Doku said, the initiative which is one of many to come is aimed at discussing the drivers of Ghana’s economy and economic efforts.
He said the maiden edition focused on public debt and the ongoing debt restructuring programme which had triggered heated debates and reactions in the country.
According to Mr Doku, the government had made significant progress on the Domestic Debt Exchange Programme with a subscription rate of approximately 85 per cent of eligible bonds.
He said that notwithstanding the pressing need to address Ghana’s mounting debt, factors driving it and the potential socio-economic implications of the country’s approach towards debt restructuring have received limited attention.
According to him, this lack of discussion could lead to a limited understanding of the entire process for the public and impede efforts to identify effective solutions that ensured the long-term sustainability of the economy.
“For us at Media General and especially at 3 Business, and with the buy-in of our partners ACEP and Imani Africa, we thought that it was indeed time to place the Debt Restructuring Programme on the chopping board and to ignite discussions,” he said.
Professor Godfred Bokpin who opened the event with a lecture revealed that even though Ghana’s debt was classified as high risk, there was no need to restructure the debt, because the country still had market access.
He added that after restructuring the country’s debt, Ghana has lost out on market access to international and domestic capital markets.
The Professor of Finance presented charts showing the distance between Ghana and her independence peer, where the Gross Domestic Product gap had widened.
“You’ll be 78 times better off living in Malaysia than Ghana and 80 times better living in Singapore, I’m not saying relocate, but is doable if we want to,” he said.
Other speakers like Executive Director of ACEP, Benjamin Boakye, Economist and Prof. of Finance, Godfred Alufar Bokpin, Senior Partner, AB and David Africa, David Ofosu Dorte, Financial Consultant, Doris Ahiati, and Executive Chairman, Kleeve and Tove, Senyo Hosi shared their knowledge on the subject.
By Edem Mensah-Tsotorme
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ASWIM lauds Prof Naana Jane Opoku-Agyemang
The Association of Women in the Media, (ASWIM) has congratulated Professor Naana Jane Opoku-Agyemang on her historic achievement as Ghana’s first female Vice President.
The association said her trailblazing journey with sterling accomplishments from academia to politics, is undoubtedly, a vivid inspiration to countless women and girls across Ghana and Africa.
This was contained in a statement signed by its president, Mrs Mavis Kitcher, and copied to The Spectator on Tuesday in Accra.
“ASWIM celebrates your remarkable career, marked by numerous firsts, including the first female Vice-Chancellor of the University of Cape Coast, (UCC), and the first female to hold a professional chair in Ghana, (UCC),” the statement said.
It said the accomplishments of Prof Opoku- Agyemang were clear testament to the brilliance, resilience and resourceful nature of the complete beautiful African woman.
“As she takes on this new role, ASWIM proudly lauds her commitment to education, women’s empowerment, distinguished public service and patriotism and is very confident that her pursuit of excellence, love for humanity, humility, decency, modesty and commitment to the welfare of the vulnerable will characterise Ghana’s political leadership and public service,” the statement added.
By Jemima Esinam Kuatsinu
Entertainment
Demolition of Fantasy Dome unfair — Mark Okraku-Mantey
Months after the Fantasy Dome was dismantled to make way for construction at the Ghana International Trade Fair site, the Deputy Minister of Tourism, Arts and Culture, Mr Mark Okraku-Mantey, has expressed concern over the manner the facility was destroyed.
In an interview on Daybreak Hitz with Andy Dosty, Mr Okraku-Mantey criticised the handling of the dome’s dismantling, suggesting that it could have been done without causing damage.
“I don’t think that leadership gave instructions that they should do what happened. The structure was a prefab but I hear the people destroyed it. That one, we cannot defend it. It is unfair to him (owner). Sometimes, you give instructions and people will go and do things that will make you look bad,” he stated.
When asked about any punitive measure against the workers responsible for the destruction, Mr Okraku-Mantey clarified that the Trade Fair does not fall under his ministry.
He said he had previously contacted the owner, Leslie Quaynor, to discuss relocating the dome, and even suggested the National Museum as a potential site, though it was too small.
The demolition of the 20,000-seater Fantasy Dome occurred on March 16, 2024.
According to Dr Agnes Adu, CEO of the Ghana Trade Fair Company Limited, the action was taken after multiple notices were given to Quaynor to vacate the premises for redevelopment, as per their tenancy agreement.
Dr Adu noted that all previous tenants had complied except for the Fantasy Dome.
Quaynor, in an interview with JoyNews, confirmed that his lease had ended, and was in the process of relocating the dome.
He had requested an extension, which was denied, leading him to seek a writ and an injunction from an Accra High Court to halt the demolition.
Despite this, the demolition proceeded, causing significant damage to the structure.
Quaynor described the incident as a major setback, not only for his business but also for the entertainment industry, which relies on venues like the Fantasy Dome.
