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Govt to roll out economic rescue programme—Finance Minister
The government is developing a three-year COVID-19 alleviation programme to be known as “The Ghana Cares Programme” to help rescue the economy from the clutches of the coronavirus pandemic.
The impact of the coronavirus disease on the Ghanaian economy could last for three years, the government had predicted.
“To address this, the President has directed the Ministry of Finance to come up with stabilisation and a revitalisation plan for the country.
“In this regard, the Ministry of Finance is developing a three-year COVID-19 alleviation and revitalisation of enterprise support programme; ‘The Ghana Cares Programme’ to help stabilise and revitalise the country’s economy.
“We are confident that this programme will lead us on a journey of achieving a Ghana Beyond Aid,” Finance Minister, Ken Ofori-Atta told Parliament in Accra yesterday.
Mr Ofori-Atta made this known in an explanatory statement when he laid a report on the limit of borrowing by government under subsection (6) of Section 30 of the Bank of Ghana Act in the coronavirus emergency.
According to him, the Bank of Ghana had released GH¢5.5billion of a GH¢10 billion COVID-19 support fund in line with the emergency financing provisions under the Bank of Ghana Act, to deal with shocks that had accompanied the coronavirus pandemic.
The coupon rate, he said, was pegged at the prevailing monetary policy rate with a 10-year tenure and a two-year moratorium on both principal and interest payment.
Government, Finance Minister said remains unwavering in protecting lives and sustaining livelihoods and rebuilding the country’s agric and industrial sector so as to position the country on the path of growth.
“Mr Speaker, these are sobering times and a test of our own humanity and how to be our brothers’ keeper,” he preached.
Even as the country develops the ‘Ghana Cares Programme’, he said it was time burdens were shared for the common good of the country.
“Whatever stimulus package would help us claw back our five per cent GDP that we’ve lost, Mr Speaker, we intend to do it.
“It is a period of sacrifice; burden sharing and we have to avoid any spiritual stupor by ensuring that everyone is taken care of.
“In this vein, we would like to live on some of Gandhi’s principles – a period of three years of politics with principles, wealth that comes from work, commerce that is through morality, pleasure that is conscionable, education of character, science that has a human face and work that has sacrifice attached to it.
“We are confident that we will come out of this much stronger and much greater. So we remain more hopeful that our land will overflow with prosperity and we will leave no one behind as we build a greater society.”
The programme is a top-up to the GH¢1 billion Coronavirus Alleviation Programme Business Support Scheme to cushion small and medium scale enterprises against the vagaries of the coronavirus pandemic.
BY JULIUS YAO PETETSI
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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.
