Hot!

President Akufo-Addo releases KPMG Report on GRA/SML transaction

The President of the Republic, Nana Addo Dankwa Akufo-Addo on April 24, 2024 received a request from the Media Foundation for West Africa (MFWA), under section 18 of the Right to Information Act, 2019 (Act 989) (RTI Act), for a copy of the (Klynveld Peat Marwick Goerdeler)
KPMG report on the contracts and transactions between Ghana Revenue Authority (GRA) and Strategic Mobilisation Limited (SML).

It would be recalled that the President on December 29, 2023, commissioned KPMG, to undertake an inquiry to gain a clear understanding of the matters in controversy, and to be properly advised in taking the necessary decisions.

According to the Presidency, bearing in mind the provisions of the RTI Act, particularly section 5 (1) (a) and (b) (i) of the Act, the President denied the request by MFWA since the KPMG report constitutes matters exempt under section 5 of the RTI Act.

Section 5 (1) (a) and (b) (i) of the RTI Act states that “information is exempt from disclosure where the information is prepared for submission or has been submitted to the President or Vice President for consideration or contains matters the disclosure of which would reveal information concerning opinion, advice, deliberation, recommendation, minutes or consultation made or given to the President or Vice President and is likely to undermine the deliberative process on the part of the President or Vice President.”

A statement signed by the Director of Communications at the Office of the President, Eugene Arhin noted that there has been judicial pronouncement, in a case involving MFWA, that a request which falls within the categories of information exempt under RTI Act can be lawfully declined.

He further indicated that the KPMG report comprises opinions, advice, deliberations, and recommendations that are integral to the President’s deliberative process and, therefore, qualifies as exempt information under section 5 (1) (a) and (b) (i) of the RTI Act. Thus, the Office of the President was justified in turning down the request from MFWA for a copy of the KPMG report.

It is important to recount that, even before the request from MFWA, the President had, on April 24, 2024, caused to be published a detailed press statement outlining KPMG’s findings and recommendations, as well as his directives to the Ministry of Finance and GRA.

The Office of the President reiterated the necessity for those who file applications and requests under the RTI Act to have a thorough understanding of its provisions.

“It is vital to appreciate that the legal framework for access to information includes safeguards intended to protect the sanctity of decision-making at the highest levels of government, which must not be compromised or misused in the pursuit of access to information,” he added.

This not withstanding, he noted that the President, in the interest of full transparency in governance, openness, and honesty with the public, has decided to waive the privilege under section 5 of the RTI Act and has directed the publication of the KPMG report in full.

Note
A copy of the KPMG report can be accessed from the website of the Presidency –www.presidency.gov.gh.

Hot!

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.

Hot!

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