News
Mahama must understand Banking sector clean-up before commenting – Bawumia
Flagbearer of the New Patriotic Party (NPP) and Vice President of Ghana, Dr.Mahamudu Bawumia has jabbed former President, John Dramani Mahama over the banking sector crisis.
“I’ll ask the former president if he hasn’t read, to go and read the receiver’s report or the BoG’s report and acquaint himself before making any further comments on matters he clearly doesn’t understand,” he said
Addressing Ghanaians during the Media Encounter on Sunday, August 25, he said, the former President needs to get an understanding before making further comments, adding that he cannot hand over a bank’s licence to them, this is subject to legal procedure.He said, “We saved the deposits of 4.6 million bank depositors who really were going to lose their deposits if those banks were not saved. I don’t understand whether the former president has taken his time to understand the banking sector. Some atrocious things and this is why these banks had to be saved.”
Dr.Bawumia further added, “They were not collapsed, they were merged into other banks and no banking depositor lost 1 cedi, everybody maintained. But very bad things happened, some of the banks broke all the rules and extended loans way above the single obligor limits.”
“They were given, in some cases 1 billion by the Bank of Ghana to help them out of the mess and they only got deeper into the situation. Other banks were given capital to save the situation, and they used that money to set up Capital Bank, instead of rescuing the problem that they had. They took the money from the central bank and set up another business which also collapsed. Some took money and invested in private properties,” he added.
Dr.Bawumia concluded that “So, it was against this background the governor came to report, and this was one of my nightmares in the last eight years. Most people didn’t understand how close we were to a collapse of the entire banking system. This is how we had to merge many of these banking sectors into other banks and we saved 4. 6 million depositors.”
By Edem Mensah-Tsotorme
News
University of Ghana opens maiden ‘Artify’ visual arts exhibition
The University of Ghana, in partnership with Nubuke Foundation and KGL Foundation, has launched a week-long visual arts exhibition titled ‘Artify’ on the University’s campus.
Running from November 26 to December 2, the event showcases drawings and paintings by eight visual artists selected by the University.
The artists participated in a two-week skills and business orientation training before the exhibition, where they were coached on art practice fundamentals, copyright and intellectual property, entrepreneurship, and business management.
The training was to help the artists upscale their craft and expand their client reach, equipping them to become more business-oriented art professionals.
The Artify project, under the theme Amplifying Art as a Business, was conceived by the University of Ghana’s Office of Research, Innovation, and Development (ORID).
Professor Felix Ankomah Asante, Pro Vice-Chancellor, Research, Innovation and Development, University of Ghana, said they aimed to equip them with the necessary tools and skills to thrive as artists and entrepreneurs.
“This initiative nurtures talent and fosters entrepreneurial spirit among young aspiring artists. Together, we cultivate creativity and transform passion into sustainable careers,” he said.
Prof. Asante said that the skills required to run an art business were often overlooked, as art was commonly perceived as a hobby that doesn’t necessitate specialised management skills.
He argued that by integrating business and project management skills into the art ecosystem in Ghana, more organisations and investors could be encouraged to support creatives.
Madam Odile Tevie, Director of Nubuke Foundation, called on authorities to create more platforms, similar to the Artify exhibition, where artists could showcase their work.
She advocated the establishment of visual arts spaces in communities, where local talents could receive training and be nurtured in their craft.
Mr Sedem Atsu Avornyo, one of the participating artists, praised the University and its partners for the initiative.
He noted that his knowledge and skills had been greatly enriched, better preparing him for the job market. –GNA
News
Don’t harass, visitors on period of election …Comptroller-General cautions Immigration staff
The Comptroller-General of Immigration, Mr Kwame Asuah Takyi, (Esq.), has asked personnel of the service, especially those at the various borders of the country, not to harass people who travel in and outside of the country during the election period.
The advice is to stem reports that usually characterise immigration operations in border communities in such crucial moments.
He gave the advice at the 2024 Comptroller-General’s end-of-year games held at the McDan La Town Park on Friday.
It was under the theme “Kick for unity, sports for peaceful elections.”
According to Mr Assuah Takyi, It was important for personnel of the staff to behave professionally and live by the high standards required to ensure peace and tranquility at the border towns where elections would be ongoing.
“I want to remind you of the roles and responsibilities expected from you. Don’t take advantage of the upcoming general elections to harass visitors and passengers going in and out of the country.
“Perform your duties professionally as immigration officers and, where necessary, assist other security agencies to maintain peace, law, and order before, during, and after the elections.”
“Be apolitical because your services are to Ghana first and only, and not to any individual or political party. As officers in uniform, don’t put up behaviours that would question your professionalism.”
“This is not a call on immigration staff alone. All the security agencies are poised to display high standards of professionalism to ensure that Ghanaians vote in a peaceful atmosphere,” Mr Takyi said.
Flanked by three-time African best player and former captain of the Black Stars Abedi Ayew Pele, who was the special guest of honour, the Comptroller-General stated that as officers and men in uniform, their duty to the country was to maintain peace, law, and order and not to be involved in dubious or political activities.
“If any of you want to do politics, resign and hand over your uniform to the service and go. This information should go out there to our officers across the country.”
Mr Assuah Takyi urged members of the general public to behave responsibly to make the work of the security officers simple and peaceful while cautioning potential troublemakers to have a change of mind because that would not be tolerated.
“The National Elections Security Taskforce (NESTF) met the political parties on Thursday to reaffirm our commitment to professionalism, impartiality, and adherence to the rule of law.”
“Our actions will be impartial and guided by the law, and anyone who decides to violate the laid-down laws will be made to face the law.”
Mr Asuah Takyi urged all to operate within the confines of the law to ensure a successful and trouble-free election.
By Raymond Ackumey