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Successive governments will borrow more if domestic resource mobilisation isn’t improved – Oppong Nkrumah
![Information Minister Kojo Oppong Nkrumah. [Photo credit/GBC]](https://thespectatoronline.com/wp-content/uploads/2022/07/762022110241-1h830o4aau-fw-f8kswyaect8-e1657101736549.jpg)
Information Minister, Kojo Oppong Nkrumah has justified the determination of the ruling government to bring more Ghanaians into the tax net to improve revenue mobilisation.
Speaking in an interview with GTV on the Breakfast Show on Wednesday, July 6, 2022, the Minister said it is important to improve domestic revenue mobilisation to ensure successive governments do not continue to borrow in the future.
“When we were hit with Covid-19, Ghana had to resort to a lot of the internal buffers and reserves that we had built to respond.
“When crisis comes, your forest reserves are constrained. Your ability to meet your debt service and other fiscal expenditure obligations are limited.
“If we do not improve on domestic resource mobilization successive governments will do a lot of borrowing,” Kojo Oppong Nkrumah.
Last Friday, the government announced to inform the public that it has contacted the International Monetary Fund to declare its intention to engage the fund for support.
Speaking on the move to the IMF for a bailout, Kojo Oppong Nkrumah said the engagements will start with data sharing.
“The very first part of the discussion is on data sharing. They will need to sit with you and validate all the data that you are putting on the table. It is when the validation is done that we will know the form in which the program will come,” the Information Minister added.
A team from the government is expected to officially commence in-person discussions with officials of the IMF today. – modernghana
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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.
