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BoG Governor’s comment is provocative – Minority
Bawku Central MP, Mahama Ayariga has described comments by the Governor of the Bank of Ghana (BoG), Dr Ernest Addison condemning calls for his resignation and his description of protestors as hooligans as “loose talk” and provocative.
Dr Addison has been quoted by a portal, centralbanking.comto have said in an interview that he would not resign from his position following the Minority’s protest to demand his resignation on Tuesday.
The website quoted the BoG Governor as saying “the demonstration yesterday was completely unnecessary”, adding that neither him nor his deputies will leave their jobs.
He is further quoted to have called the demonstrators as hooligans who should have known how to better address their grievances.
“The Minority in parliament have many channels to channel their grievances”, Dr. Addison is further quoted by the website.
But according to Mr Ayariga, he is surprised at Dr Addison’s behaviour since the Minority was civil in their demand for his resignation.
He warned that there is even more to come to pile pressure on Dr. Ernest Addison and his deputies to resign.
“We have been very civil in our approach, to have the governor call us hooligans is clearly provocative and I have no doubt that going into the future, we might not be easily restrained when we come after the governor and his deputies.
“We did everything within the rules, we spoke to the police, met the police, the police took us to court, we complied and the demonstration was peaceful yet the central bank governor called us hooligans because we were being very nice – well, I have said it and I can assure him that since he has officially tagged us as hooligans, we will see how our future protests will look like,” he added.
Mr Ayariga pointed out that Dr Addison has no explanations for mismanaging that bank and destroying the finances of the country.
He also says he will refer the governor to the Special Prosecutor for allegedly inflating the contract for the construction of the controversial new central bank headquarters for his personal gain.
Source: www.myjoyonline.com
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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.
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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
