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President Akufo-Addo Leads Call to Double IDA Funding at Nairobi Summit
In an address at the 2024 International Development Association (IDA) Summit held in Nairobi, President Nana Addo Dankwa Akufo-Addo of Ghana emerged as a leading voice, advocating for a groundbreaking initiative: the doubling of funding for the IDA.
Amidst a backdrop of global challenges, President Akufo-Addo’s clarion call for increased support to the IDA reverberated throughout the summit halls, igniting discussions on the imperative of bolstering international development efforts.
President Akufo-Addo’s passioned plea underscored the urgent need for enhanced financial resources to confront the daunting infrastructure deficit plaguing African nations.
Quoting figures from the African Development Bank (AfDB), the President highlighted Africa’s infrastructure needs, estimated at a staggering $130 billion to $170 billion annually, with a yawning financing gap of $68 billion to $108 billion. Such disparities, he emphasised, hinder economic growth, stifle progress, and perpetuate cycles of poverty and inequality.
Central to the President’s argument was the pivotal role of the IDA in providing concessional financing to bridge the resource gap and facilitate sustainable development.
Against the backdrop of mounting debt distress and the far-reaching impacts of climate change and the COVID-19 pandemic, President Akufo-Addo stressed that doubling IDA funding was not merely an option but an imperative for African nations striving to navigate these intersecting crises.
Drawing from Ghana’s own experiences, particularly its engagement in debt restructuring under the G20 Common Framework, President Akufo-Addo elucidated the challenges facing countries grappling with debt burdens. He emphasised that doubling IDA resources would not only alleviate debt pressures but also enable nations to address pressing developmental needs, from infrastructure investment to climate resilience and social protection.
The President’s advocacy for doubling IDA funding resonated with summit participants, who echoed his sentiments on the need for bold and transformative action. Recognising that development efforts require sustained, long-term investment.
President Akufo-Addo called upon the international community to seize the opportunity presented by the IDA replenishment to mobilise resources, forge partnerships, and chart a course toward inclusive and sustainable development.
As the summit concluded, President Akufo-Addo’s call to double IDA funding reverberated as a rallying cry for solidarity and shared responsibility in addressing the most pressing challenges of our time. With the stakes high and the need urgent, the President’s visionary leadership set the stage for a renewed commitment to building a brighter future for all.
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ASWIM lauds Prof Naana Jane Opoku-Agyemang
The Association of Women in the Media, (ASWIM) has congratulated Professor Naana Jane Opoku-Agyemang on her historic achievement as Ghana’s first female Vice President.
The association said her trailblazing journey with sterling accomplishments from academia to politics, is undoubtedly, a vivid inspiration to countless women and girls across Ghana and Africa.
This was contained in a statement signed by its president, Mrs Mavis Kitcher, and copied to The Spectator on Tuesday in Accra.
“ASWIM celebrates your remarkable career, marked by numerous firsts, including the first female Vice-Chancellor of the University of Cape Coast, (UCC), and the first female to hold a professional chair in Ghana, (UCC),” the statement said.
It said the accomplishments of Prof Opoku- Agyemang were clear testament to the brilliance, resilience and resourceful nature of the complete beautiful African woman.
“As she takes on this new role, ASWIM proudly lauds her commitment to education, women’s empowerment, distinguished public service and patriotism and is very confident that her pursuit of excellence, love for humanity, humility, decency, modesty and commitment to the welfare of the vulnerable will characterise Ghana’s political leadership and public service,” the statement added.
By Jemima Esinam Kuatsinu
Entertainment
Demolition of Fantasy Dome unfair — Mark Okraku-Mantey
Months after the Fantasy Dome was dismantled to make way for construction at the Ghana International Trade Fair site, the Deputy Minister of Tourism, Arts and Culture, Mr Mark Okraku-Mantey, has expressed concern over the manner the facility was destroyed.
In an interview on Daybreak Hitz with Andy Dosty, Mr Okraku-Mantey criticised the handling of the dome’s dismantling, suggesting that it could have been done without causing damage.
“I don’t think that leadership gave instructions that they should do what happened. The structure was a prefab but I hear the people destroyed it. That one, we cannot defend it. It is unfair to him (owner). Sometimes, you give instructions and people will go and do things that will make you look bad,” he stated.
When asked about any punitive measure against the workers responsible for the destruction, Mr Okraku-Mantey clarified that the Trade Fair does not fall under his ministry.
He said he had previously contacted the owner, Leslie Quaynor, to discuss relocating the dome, and even suggested the National Museum as a potential site, though it was too small.
The demolition of the 20,000-seater Fantasy Dome occurred on March 16, 2024.
According to Dr Agnes Adu, CEO of the Ghana Trade Fair Company Limited, the action was taken after multiple notices were given to Quaynor to vacate the premises for redevelopment, as per their tenancy agreement.
Dr Adu noted that all previous tenants had complied except for the Fantasy Dome.
Quaynor, in an interview with JoyNews, confirmed that his lease had ended, and was in the process of relocating the dome.
He had requested an extension, which was denied, leading him to seek a writ and an injunction from an Accra High Court to halt the demolition.
Despite this, the demolition proceeded, causing significant damage to the structure.
Quaynor described the incident as a major setback, not only for his business but also for the entertainment industry, which relies on venues like the Fantasy Dome.
