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Veep commissions UG Stadium ahead of African Games
Vice President, Dr Mahamudu Bawumia on Friday, commissioned the University of Ghana stadium (Legon Stadium), at a colourful ceremony in Accra.
The 11,000-capacity facility which has been completed to host the 13th African Games, Accra 2023, as Ghana wrap up preparations ahead of the opening of the Games on March 3, was unveiled amidst fanfare.
Commissioning the arena, the Vice President said “The history of the African Games is tied with the history of the continent. I believe it is common knowledge that the Great Pan African and First President of the Republic of Ghana, Osagyefo Dr Kwame Nkrumah is a founding member of the Games. The Games thus inhabit the Spirit of Africa and Pan-Africanism.
“Our theme for this edition of the Games, “Experience the African Dream,” is thus steeped in the core values of unity, independence, political and economic cooperation, as well as historical and cultural awareness.”
He indicated that “this is the age of the African Renaissance. The continent is tagged by Trade Finance Global with the potential to shape geopolitics and world economics for decades to come.”
“This potential would not marginally materialise to propel our people into prosperity without conscious and intentional action on the part of everyone, especially leadership across all social divides and facets of society,” Dr.Bawumia said.
The United Nations, he said, had identified sports as the most appropriate vehicle for sustainable socio-economic development and made a pronouncement as such in 2018.
“Combined with the youthful bulge of our demographic dividend, the opportunity is here, and the time is now. Ghana is ready to host the world.”
According to him, it is in recognition of many social and cultural benefits inherent in sports that the Government of His Excellency Nana Addo Dankwa Akufo-Addo, President of the Republic, took the bold decision to bid for and win the rights for Ghana to host this edition of the African Games.
He said this visionary step has resulted in the construction of international standard sporting facilities such as the University of Ghana Sports Stadium and Rugby Field as well as the Borteyman Sports Complex.
“Construction of these facilities has not been easy, but we know that the returns would be immediate and substantial,” he concluded.
Over 13,000 elite athletes, sports technocrats, technicians, and officials, including volunteers, are expected to participate in the African Games which ends on Saturday, March, 23.
The African Games is a celebration of the continent’s greatest sporting talents who gather and compete in an atmosphere of camaraderie, unity and celebration of the cultural diversity that is uniquely African.
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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.
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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
