Hot!
Art dealers still in business pending relocation
Members of the Art and Craft Dealers Association say their recent engagement with government over plans to relocate the art market in Accra is yielding some positive result.
They have indicated their readiness to move to designated spaces at Kwawudi and Dodowa after the necessary facilities have been constructed.
Government intends to pull down structures at the centre to pave way for the marine drive project — an investment meant to boost the tourism industry and create jobs for the youth.
The traders, somewhat last year, had threatened to resist the relocation plans, citing various inconveniences the move was likely cause them.
They argued that livelihoods would be lost since the Community Youth Cultural Centre at Kwawukudi in Accra was not spacious to accommodate all of them
The new centre, according to them, lacks the facilities which will facilitate their activities hence their call on the government to consider renovating the centre instead of pulling it down completely.
But it appears the traders now appreciate the essence of their relocation to a new site. When The Spectator visited the market square on Wednesday, some traders were seen attending to a handful of clients.
Contrary to previous reports, Mr Charles Kofi Appiah, Chairman of the Traditional Cultural Kente and Adinkra Manufacturers and Sellers Association, explained that it was only the administration of the centre for National Culture that was relocating.
He said prospective clients thought the market square had already been relocated but it was still operating and business was picking up gradually.
The traders are, however, not clear how soon the relocation would happen and appealed to the government to fast track work on the Kawukudi and Dodowa projects before they are relocated.
The Art Centre has been an embodiment of culture for many years. It has a Visual Arts Department, a market square and a theatre which serve as rehearsal grounds for persons in the arts.
By Lizzy Okai
Hot!
GEXIM deepens relations with US EXIM Bank
A management team of the Ghana Export – Import Bank (GEXIM) led by the Acting Chief Executive, Sylvester Mensah met with the leadership of the Export–Import Bank of the United States (US EXIM) on Wednesday April 23, 2025 in Washington DC, United States of America.
The Acting President and Chairman of US EXIM, Mr. James C. Cruse and Vice President, International Relations, Ms. Isabel Galdiz received the GEXIM delegation, which included Deputy CEO for Banking, Mr. Moses Klu Mensah and Head of International Cooperation, Mr. Jonathan Christopher Koney at the headquarters of US EXIM.
The meeting offered the GEXIM team the opportunity to share the strategic direction of the Bank in line with the resetting agenda of the President of the Republic, His Excellency John Dramani Mahama for the repositioning of the Ghanaian economy into an export-led one by providing the requisite investment to Ghanaian businesses.
Mr. James C. Cruse expressed US EXIM’s eagerness to deepen its existing relations with GEXIM and proposed the signing of a new Cooperative Framework Agreement following the expiration of a Memorandum of Understanding signed in 2019 to utilize US EXIM’s medium term loan guarantees to procure machinery by GEXIM for qualified Ghanaian Small and Medium-sized Enterprises (SMEs).
Mr.Sylvester Mensah thanked the Acting President and Chairman of US EXIM for hosting the GEXIM delegation and reaffirmed the Ghanaian government’s commitment to strengthening trade and investment between Ghana and its global partners for economic transformation of Ghana with GEXIM playing a pivotal role.
The two teams will be meeting on the sidelines of the 2025 US EXIM Annual Conference on 29th and April 30, 2025 to explore possible areas of collaboration and matching Ghanaian businesses to American companies. The meeting ended with an exchange of gifts.
Hot!
Many SOEs have been used as mere instruments for personal wealth accumulation –Pres.Mahama
President John Dramani Mahama has expressed concern over the misuse of State-Owned Enterprises (SOEs) for personal financial gain by individuals in leadership positions.
Speaking during a meeting with Chief Executives of specified entities under the State Interest and Governance Authority (SIGA) on Thursday, March 13, the President directly attributed the dire state of SOEs to their leadership, accusing chief executives, management teams, and governing boards of prioritising personal enrichment over organisational efficiency.
He pointed to bloated budgets, unjustified allowances, and unnecessary expenditures as factors draining public funds while SOEs continue to rely on government bailouts.
“Many SOEs have been used as mere instruments for personal wealth accumulation by appointees. The chief executives, management, and boards of these enterprises are responsible for this situation. Some SOEs have become perennial loss-makers, draining public funds with bloated budgets, unjustified allowances, and unnecessary expenditures while relying on government bailouts as if entitled to them. Many of these entities are at their lowest point in the entire history of the Fourth Republic,” he said.
President Mahama further noted that many SOEs have been plagued by inefficiencies, corruption, and mismanagement, leading to consistent financial losses. He cited the 2023 State Ownership Report by the State Interests and Governance Authority (SIGA), which highlighted systemic inefficiencies and wasteful expenditures within these entities.
He therefore reaffirmed his commitment to reforming under-performing SOEs and ensuring they serve national interests.
He warned that loss-making SOEs will no longer be tolerated and will either be merged, privatised, or closed.
“I will assess you based on your performance. If you do not align with the pace of the reset agenda, you may be asked to step aside. If that adds to the horror movie, so be it,” he added.
Source: Myjoyonline.com
