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Fix depreciating Cedi and stop dancing off-beat – Ato Forson to Bawumia
The Minority in Parliament has expressed concern over the ongoing challenges facing the Ghana Cedi, warning that the situation is likely to deteriorate further.
They highlighted that the local currency now trading at GH₵15 against a dollar has led to traders passing on the increased costs to consumers.
This has resulted in a noticeable surge in the prices of goods and services across various commercial districts such as Okaishie, Abossey Okai, and Kejetia.
Addressing journalists in Parliament on Wednesday, May 15, 2024, the Minority Leader Dr. Cassiel Ato Forson criticised the Chairman of Economic Management Team, Dr. Bawumia, for what he perceives as a failure to address the currency’s depreciation effectively.
Dr. Ato Forson emphasised the adverse impact of the Cedi’s decline on businesses, stressing the need for urgent action to stabilise the situation.
The former Deputy Finance Minister urged all well-meaning Ghanaians to hold Dr. Bawumia accountable for his performance as the head of the Economic Management Team.
He argued that Dr. Bawumia’s administration has fallen short in managing the economic challenges, particularly regarding the stability of the Cedi.
According to him, “In spite of the huge inflows of foreign exchange from the IMF and the World Bank, into the Ghanaian economy, and I’m talking of billions of Ghana cedis, billions of US dollars, the government’s action and its management of the cedi have continued to fuel steep depreciation with no end in sight unfortunately.”
“So far, the decisions of the Economic Management Team, chaired by our Vice President Alhaji Bawumia leaves a lot to be desired. The reality of the Ghanaian economy today exposes the credentials of the so-called economic wizkid who was marketed as the saviour of Ghana’s economy. Alhaji Bawumia’s credibility is now in tatters,” he noted.
“I want to use this opportunity to urge the Vice President to quit his off-beat dancing on the campaign trail and focus on the dancing cedi. There’s a lot awaiting our country as a result of reckless mismanagement by Alhaji Bawumia’s government,” he said.
The Minority’s remarks come amidst growing concerns among traders and consumers regarding the continuous depreciation of the Cedi and its ripple effects on the cost of living.
Many traders have been forced to adjust their prices upwards to offset the increased exchange rates, further burdening consumers already grappling with economic challenges.
Source: Citinewsroom.com
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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
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Prophet Courage Heavens set to launch ‘Predestination’ book on March 23
Prophet Courage A. Heavens is set to launch the much-awaited book titled ‘Predestination’ on Sunday, March 23, 2025 at 5:00PM.
The launch, which is expected to impact lives, will take place at Crossgates Ministries, Flattop, off N1 Highway, opposite Angel Hauz.
The book is aimed at addressing the way people struggle to understand how free will and destiny align.
It is also aimed at providing clarity on God’s sovereignty and one’s place in His divine plan.
The various chapters of the book address various issues through scriptures and personal stories.
Committed to impacting society, part of the proceeds from the book will go into Courage Heavens Education Legacy (CHEL), an educational foundation transforming lives.
CHEL is dedicated to providing financial support and mentorship to brilliant but needy students, ensuring they have access to quality education and opportunities for a better future.
Prophet Courage Heavens is a prolific writer and previously authored Eli Eli Lama Sabachthani, a powerful book that encourages unwavering faith in times of trials.
In addition, he has written seven more prophetic and life-changing books that are yet to be published.
He is dedicated to raising the next generation for impactful ministry. As the leader of Crossgates Ministries, he nurtures believers in faith and purpose.
