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President c’ssions Suhum Interchange
The President, Nana Addo Dankwa Akufo-Addo on Friday commissioned the Suhum Interchange and opened it to traffic.
The interchange, fully funded by the Government of Ghana consolidated fund, was part of the 31.7km Kwafokrom-Apedwa Junction Project.
It is one of the many projects along the Central corridor designated as National Route 6 (N 6) under the Ghana Highway Authority’s functional classification of road.
The project was executed by the Messrs China International Water and Electric Corporation (CWE) with Conptram Engineering Planning and Associates as the consultants.
The opening of the interchange which consisted of two bridges carrying a total of four lanes, with each of the bridges having 10 span reinforced concrete box grinder bridges with a total length of 250 metres, would provide safe and uninterrupted flow of traffic.
It would also facilitate trade between the northern and southern parts of the country and within the West African sub-region.
At a short ceremony to officially open the interchange to traffic, President Akufo-Addo explained that the project, which commenced in September 2008, was initially scheduled to be completed in March 2012.
However, it suffered several challenges mainly associated with payment delays, hence several suspension of the project by the contractor.
He revealed that work resumed in June 2017, on the south bound carriageway including the interchange after some negotiations and payments of arrears were made to the contractor, while the northern bound carriageway including the construction of eight footbridges along the road corridor were all repackaged with work commencing in January 2019, adding that the entire Kwafokrom to Apedwa junction project would be finally expected to be completed in April 2021.
President Akufo-Addo noted “the commissioning was evident of government’s commitment to continue with and complete successfully major infrastructural projects we have inherited from previous governments so that the expected socio-economic benefits can be enjoyed by all”.
He stated that the interchange would alleviate the plight of the general public who use the Accra to Kumasi road and afford residents the comfort of going about their normal activities without fear of being knocked down by vehicles and hence urged motorists and road users to follow the traffic and control management schemes that has been deployed on the road to ensure safety for all.
“Indeed, the improved conditions of our highways owes a collective duty on us the citizenry to be mindful of our responsibilities on the road and I urge motorists to be extra careful on our highways and also resist the temptation of overspeeding on good road sections, adding that improved roads should not be a catalyst of national development nor instruments of death and pain.
He however expressed gratitude of the workers, security agencies, contractors, and the supervising agencies, the GHA for a good work done on the project.
For his part, the Minister for Roads and Highways, Mr Kwesi Amoako-Atta said the project generated thousands of jobs to a number of local companies, adding that the government was committed to completing many road projects.
He called on motorists to be mindful of their act on the road and charged the police to undertake speed checks regularly to ensure safety on the road.
The Project Manager of CWE, Du Huglai said they were committed to completing the entire project if they receive more funding from government.
Source: Ghanaian Times
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Over GH₵80m was collected in betting tax, Amin Adam got it wrong – Finance Minister
Ghana’s Minister for Finance Ato Forson says the claim by former Finance Minister Mohammed Amin Adam that the erstwhile administration never implemented the betting tax is not factual.
Speaking at a new conference on Tuesday, March 11, shortly after the Finance Minister presented the new government’s first budget statement and abolished the e-levy, betting tax among others, the former Finance Minister said the NPP government never enforced the controversial tax on lottery and sports betting winnings.
Dr Amin Adam said it was deceptive for the NDC government to claim to abolish a tax that was never collected although the law was passed in 2023.
“Betting tax that they said they have abolished, we never collected Betting Tax. So to come and tell Ghanaians that you have abolished something that you have not implemented, is to deceive the people of Ghana.”
Responding to the claims in an interview with Evans Mensah on JoyNews’ PM Express on Tuesday night, the Finance Minister said his colleague on the other side appears not to be on top of that issue.
“I don’t think he’s on top of that matter because my checks revealed that it was implemented in the second half of 2024. And my checks also reveal that year-to-date, the government of Ghana has collected over GH₵80 million from betting tax, so I don’t know what he’s talking about. It is not the fact. The fact on the ground does not support his assertion. Clearly, the betting tax was implemented,” he insisted.
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Whoever created BoG’s GH₵53bn negative equity mess should be held responsible – Dr. Atuahene
Banking consultant Richmond Atuahene has called for accountability over the Bank of Ghana’s (BoG) GH₵53 billion negative equity, insisting that those responsible for the mess must be held accountable.
In an interview on Joy FM’s Midday News on Wednesday, March 12, he called for those responsible for breaching financial regulations to be summoned before Parliament to explain their actions.
“There was a law that stated they should not exceed a 5% fiscal financing threshold, yet they went as high as 60%. This is a clear violation, and they cannot claim ignorance. The Governor, the Minister, and those involved must be held accountable for their actions,” he asserted
His comment comes after the Finance Minister, Dr. Cassiel Ato Forson, advised BoG to explore internal cost-cutting measures instead of relying on taxpayer funds for a GH₵53 billion bailout to address its negative equity position.
Dr. Atuahene supported the Finance Minister’s stance that the government cannot afford to recapitalise the central bank at this time, given the nation’s fiscal constraints.
“Like the Minister said, you don’t create a mess and leave it for others to clean up. Whoever created this mess must take personal responsibility. When they engaged in the monetisation of fiscal deficits in 2021 and 2022, some of us warned them about the consequences, but they didn’t listen,” he stated.
Dr. Atuahene stressed that rather than relying on external funding, the Bank of Ghana should explore internal restructuring, cost-cutting, and asset sales, including a sale-leaseback arrangement on some of its properties, to raise the necessary capital.
He also highlighted the potential damage to Ghana’s international credibility if the Bank of Ghana remains in a financially distressed position.
“This affects Ghana’s credibility. BoG has correspondent relationships with the Bank of England, the Federal Reserve, and the African Development Bank. If it continues to operate in a capital-deficient state, international institutions may lose confidence in our financial system,” he warned.
Dr. Atuahene also criticised the central bank for insisting that it is “policy solvent,” arguing that capital solvency is more critical in this situation.
“You can claim policy solvency all you want, but if you are capital insolvent, it means you cannot function properly. BoG has been making losses year after year. They made losses in 2023, and they are making losses in 2024. How long will this continue?” he questioned.
Source: Myjoyonline.com
