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Freezing of Cecilia Dapaah’s accounts ‘super-duper’ – Martin Kpebu
Private legal practitioner, Martin Kpebu, has indicated that the freezing of former Minister of Sanitation and Water Resources, Cecilia Dapaah’s cedi and dollar accounts must be a cause for celebration.
He explained that the freezing may be a good start for the state to recover funds that may have been acquired through illegal and corrupt means.
Speaking on Eyewitness News on Citi FM, he told Selorm Adonoo that rumours of the freeze reached him in the early hours of Wednesday, and he was excited when it was later reported by various news portals.
“The freezing is super-duper because of this current situation and the money involved. There were whispers of it in town following the search of the former Minister’s house. What I am hearing is that they have found $5 million in her account and found GH¢40 million in another.”
Kpebu further charged that it would be in the former minister’s interest to publicly explain to Ghanaians how she came by those monies, as it is perceived that the funds are proceeds of corruption.
“It will be interesting for her to come and tell us what she did to get all those monies and of course, the Ghana Revenue Authority will also come in for her to explain how she got those monies and this will also bring eggs on President Akufo-Addo’s face who keeps saying he is against corruption.”
“Though we have to wait for investigations to unravel the facts, I believe that the monies they have discovered in her accounts are likely proceeds of corruption. Rumours of her owning restaurants, cosmetic companies, and other hosts of companies may be palpable lies.”
News broke on July 21 of a court case against two domestic helps of the former minister and her husband, Daniel Osei Kuffour.
The two were put before an Accra Circuit Court, for allegedly stealing US$1 million, €300,000 and millions of Ghana cedis in the house of the former minister.
Madam Dapaah eventually resigned on July 22 after several calls were made for her to leave office for investigations to commence.
Officials from the Office of the Special Prosecutor (OSP) on Monday, July 24, 2023, also searched the former Minister’s Abelemkpe home after she was picked for questioning over suspected corruption.
Credit : 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
