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Controller and Accountant General ‘swerves’ PAC after parliamentary primary defeat
Mr. Kwasi Kwaning-Bosompem, the Controller and Accountant General, on Monday, January 29, opted to avoid facing the Public Accounts Committee (PAC) following his recent defeat in the parliamentary primary.
Scheduled to appear before the Committee on Monday to address pertinent questions, Mr. Kwaning-Bosompem was notably absent when proceedings started.
Deputy Finance Minister, Abena Osei Asare, informed PAC Chairman, James Klutse Avedzi, that the Controller and Accountant General was unable to attend due to unforeseen circumstances.
Despite this explanation, the committee demanded Mr. Kwaning-Bosompem’s presence and insisted he shows up to address certain critical questions.
The Controller and Accountant General sent his three deputies as representatives but that was rejected by some members of the committee.
However, the PAC Chairman, James Klutse Avedzi, made a decisive ruling that the committee should proceed with the hearing.
Mr. Kwasi Kwaning-Bosompem had his hopes of being an MP dashed on Saturday as he lost the Akim Swedru parliamentary primary.
He secured 94 votes against the incumbent MP Kennedy Osei, who had 194, whereas Okyere Jerome Kwame polled 10.
The race in the constituency became topical after the Controller and Accountant General declared his intention to contest the seat.
While he enjoyed some backing and endorsement from high-profile personalities, politicians, religious leaders, and civil society organizations, others also kicked against his decision, calling for his resignation or removal from office.
The Alliance for Social Equity and Public Accountability (ASEPA) Ghana demanded his immediate removal from office for allegedly breaching the Civil Service Act, PNDC Law 327.
The Member of Parliament for South Dayi, Rockson-Nelson Dafeamekpor, on January 10, 2024, filed a lawsuit against Mr. Kwaning-Bosompem.
Source: Citinewsroom.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
