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You’ll account for your stewardship either in heaven or in jail – Gyampo tells BoG Governor
A political science lecturer at the University of Ghana, Professor Ransford Gyampo, has criticized the “arrogant” attitude and response of the Governor of the Bank of Ghana (BoG), Dr. Ernest Addison, to protesters of the OccupyBoG movement.
In an open letter to the BoG Governor, Prof. Gyampo said, “Whether you resign or not, you would by all means, account one day, for your stewardship either in heaven or in hell or in prison or in your home.”
“One thing is certain to me and must be clear in the minds of all if we survive 2024, the conduct of governance, politics and the management of our economy wouldn’t be business as usual. Things would change to the glory of God, for the betterment of lives of Ghanaians, and to the shame of wicked and incompetent leadership.”
This follows Dr. Addison’s dismissal of calls by the opposition National Democratic Congress (NDC) and the Minority caucus in Parliament for him to resign. In an interview with the international business website, Central Banking, he said he is not stepping down, describing the protest by the NDC as “completely unnecessary.”
“The Minority in parliament have many channels to channel their grievances in civilised societies, not through demonstrations in the streets as hooligans,” Dr. Addison added in reference to the #OccupyBoGProtest.
Mr. Gyampo in the letter also said that the Governor spent about GH¢137 million on vehicle maintenance; collapsed over 400 banks and micro-finance companies; printed over GH¢700 trillion within 2 years; and depleted our foreign reserves.
“Yet you still want to determine how the taxpayer reacts to your decision to choose excessive partisanship over competence?”
He said Dr. Addison’s attitude and response epitomized what his father referred to as impunity personified as the President and the Finance Minister had similarly received several calls for their resignation but had not responded arrogantly as the governor had.
“Please Governor, printing money does not make you owner of human life and human rights and respectfully, sir, you portray a certain high-level poverty, if all you have is the money you have printed, which makes you arrogant in insulting taxpayers who are unhappy with your abysmal performance. This isn’t how Governors G.K Agamah, K. Dufuor, P. Acquah, and N. Ishahakku handled the BoG. These chaps were simply sober and competent,” he added.
Source:Citinewsroom.com,
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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
