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GUTA members close shops over economic woes
Members of the Ghana Union of Traders Association (GUTA), have closed their shops until Monday, October 24 in protest of the high cost of doing business in recent times.
They also insist that the continuous plummeting of the Ghanaian Cedi on the forex market and the high inflation rate have eroded their capital and exacerbated their plight.
GUTA wants this action to be a “pinch” on government to urgently address their concerns.
The shop closure come against pleas by members of the Council of State on Tuesday, October 18 for the traders to rescind their decision.
In a media interview shortly after the engagement with the Council of State members, however, the President of GUTA, Dr Joseph Obeng said their action is to compel the government to act quickly to ameliorate their plight.
“It is obvious that we cannot contain these challenges any longer as it is becoming increasingly challenging.
“We want to send a hint to the government to recognise that, there is a sense of urgency in this situation. On this note, by the power vested in me by the trading community, I declare that all shops in the Greater Accra Region be closed tomorrow till Monday”.
The Association has thus called on the government to ascertain the factors leading to excessive demand for forex while reviewing investment laws to retain forex and push foreign investors into productive sectors of the economy.
“Government should adopt other alternative currencies like the Chinese Yuan to reduce the pressure on the dollar, especially.
There should be the immediate implementation of the road map set out to flush out all illegal foreigners in the retail trade sector,” Dr Obeng added.
Source: www.myjoyonline.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.
