Month: August 2023

India’s Ban On Exportation Of Rice And Possible Impact On Ghana And Other African Countries
01 Aug

India’s Ban On Exportation Of Rice And Possible Impact On Ghana And Other African Countries

Wontumi2Business
Rice prices in Ghana are anticipated to experience a significant surge following the recent decision by the world’s largest rice exporter, India, to impose a ban on rice exports. This action, taken by the Indian government to address domestic inflation concerns, has raised concerns regarding potential global food price hikes. India, accounting for over 40% of worldwide rice shipments, holds the position of the leading rice exporter. As a result of India’s embargo, rice prices from various Asian nations have already witnessed an upward trend in global markets, with traders projecting substantial further increases in the near future. In 2022,…
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DDEP: Government To Restructure GH¢31 Billion Of Local Pension Funds
01 Aug

DDEP: Government To Restructure GH¢31 Billion Of Local Pension Funds

Wontumi2Business
Ghana is inviting local pension funds to a debt restructuring deal that gives the state fiscal space in the medium-term at no loss to the retirement funds. Pension funds have been offered to exchange about 31 billion cedis ($2.7 billion) of existing investments that carry an average coupon of 18.5% for two new bonds maturing in 2027 and 2028 with an average interest rate of 8.4%, the Ministry of Finance said in an exchange memorandum late Monday. The government will also give holders more of the securities — which were issued in February — and an additional cash-payment instrument that…
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Aliko Dangote’s Sugar Empire Reports $36-Million Loss Amid Naira Devaluation – Report
01 Aug

Aliko Dangote’s Sugar Empire Reports $36-Million Loss Amid Naira Devaluation – Report

Wontumi2Business
Dangote Sugar Refinery Plc, a leading integrated sugar business owned by one of Africa’s wealthiest individuals, Aliko Dangote, faced substantial foreign exchange losses amounting to more than $100 million in the first half of 2023. The staggering N83.1 billion ($107.3 million) in foreign exchange losses were attributed to the devaluation of the Naira, which adversely affected the company’s earnings capacity and necessitated the revaluation of its foreign currency obligations. This pressure on earnings resulted in a significant loss of N27.98 billion ($36.17 million) during the first six months of 2023. This contrasts sharply with the N20.24 billion ($26.2 million) profit…
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Auditor General Indicts 2 Urban Roads Account Officers For ‘Stealing’ GH¢1.9m
01 Aug

Auditor General Indicts 2 Urban Roads Account Officers For ‘Stealing’ GH¢1.9m

Wontumi2News
Auditor General indicts 2 Urban Roads officials for 'stealing' GH¢1.9m The 2022 Auditor General report has revealed incriminating evidence against two account officers at the Greater Accra Regional Department of Urban Roads. These officers are accused of embezzling an amount of one point nine million Cedis during the period spanning January 2020 to March 2022. One of them is a former Greater Accra Regional Accountants Officer whiles the other was an account staff within the department. The Regional Accountant is suspected of single-handedly embezzling about one point six million cedis through fraudulent withdrawals. Additionally, both officers were involved in separate…
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Akufo-Addo Sacks Bosome Freho DCE Over Galamsey
01 Aug

Akufo-Addo Sacks Bosome Freho DCE Over Galamsey

Wontumi2News
President Nana Addo Akufo-Addo has dismissed the District Chief Executive (DCE) of Bosome Freho District Assembly in the Ashanti Region, Yaw Danso, according to a Daily Guide report filed on July 31, 2023. The DCE was suspended in October 2022 following allegations of engaging in illegal small-scale mining activities, commonly known as galamsey. The investigation into the allegations against Yaw Danso was triggered by an audio recording that allegedly implicated him in galamsey activities. After the suspension, Assembly members from Bosome Freho called on the presidency to conduct further investigations into the matter. President Akufo-Addo invited Yaw Danso to defend…
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This Is Cruel! – Ama Governor Fires Detailed Response To CJ Over Call To The Bar Fiasco
01 Aug

This Is Cruel! – Ama Governor Fires Detailed Response To CJ Over Call To The Bar Fiasco

Wontumi2News
Elorm Ababio, the law student barred from being called to the bar in 2022 has replied Chief Justice Gertrude Torkornoo over her recent justification of the General Legal Council's decision to refuse certain people from being called for different reasons. Ms. Ababio, alias Ama Governor, had her call to the Bar suspended despite having passed all required examinations. At the time, the General Legal Council (GLC) citing a petition filed against the conduct of Ms. Ababio by one Hajia Siduri, decided to put her Call to the Bar on ice. Speaking to the issue at an event in Accra (July…
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MP Sues Assemblyman For Defamation, Demands GHȼ1 Million In Damages
01 Aug

MP Sues Assemblyman For Defamation, Demands GHȼ1 Million In Damages

Wontumi2News
Andy Kwame Appiah-Kubi, the Member of Parliament (MP) for Asante Akim North constituency, has sued the assemblyman of the Obuasi Electoral Area, Enoch Sarfo Asiedu, for alleged defamation. In a statement of claim filed at a Kumasi High Court, the MP is seeking a declaration that the some statements made by the defendant on a local radio station are defamatory and have tarnished his image and standing. According to the 17-point statement of claim filed by Kwasi Asokwa-Boateng of Appiah-Kubi & Associates of Nhyira Chambers, the defendant uttered unpalatable Twi words against the MP during a program on Salt FM…
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Treason Trial: Colonel Gameli Slapped With Contempt
01 Aug

Treason Trial: Colonel Gameli Slapped With Contempt

Wontumi2News
The Accra High Court trying nine persons for treason has sentenced Colonel Samuel Kwadzo Gameli to sign a bond to be of good behaviour for six months for contempt. Colonel Gameli, one of the accused persons facing abetment of High treason charge, was caught playing audio of the Court’s proceedings whilst Court was in session. Justice Afia Serwaa Asare-Botwe, President of the three-member-panel court, whose voice was heard on the audio, called for a warrant officer to seize the cellular phone of Colonel Gameli. He was then asked how long he had been recording and he confessed that since Wednesday,…
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Lasmid Breaks Silence On VGMA Performance Flop
01 Aug

Lasmid Breaks Silence On VGMA Performance Flop

Wontumi2Showbiz
Rising Ghanaian artiste, Lasmid did not have the best of nights at the 24th edition of the Vodafone Ghana Music Awards (VGMA) despite bagging two awards on the night. Almost three months after the incident, the artiste has opened up about his performance on the day which was marred by technical hitches. According to Lasmid, the incident was basically a day gone bad as things did not go as planned. “So I climbed that stage, I did my best. We wanted the best in our minds to come out so everyone can say the boy has put in work. It…
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Advise Your Gay Son And Stop The Bitterness – KKD Told
01 Aug

Advise Your Gay Son And Stop The Bitterness – KKD Told

Wontumi2Showbiz,
The Deputy Director of Communications for the New Patriotic Party (NPP), Ernest Owusu Bempah, has launched an attack on Ghanaian broadcaster Kwesi Kyei-Darkwah popularly known as KKD following his recent comment that whoever coined the NPP's popular slogan, "Breaking the Eight," is a fool. Owusu Bempah accused KKD of speaking out of hatred and bitterness and questioned his reasoning abilities. Speaking in an interview on Neat FM on July 31, 2023, Owusu Bempah expressed his belief that the comments were uncalled for and senseless. “First of all, KKD I think that he has a problem, he himself personally …since my breastfeeding days…
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