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Rainbow Radio - Items filtered by date: Sunday, 16 September 2018
The President of the Republic, Nana Addo Dankwa Akufo-Addo, on Saturday, 15th September, 2018, commissioned a 20-megawatt solar plant, and inspected ongoing works at the Casa de-Ropa Ltd, a “1-district-1-factory” initiative, all in the Gomoa West constituency. Speaking at the commissioning of the 20-megawatt solar plant at Gomoa Onyaadze, President Akufo-Addo noted that the facility, constructed and operated by Meinergy Ghana Ltd., represents a significant a contribution to Government’s policy of having environmentally friendly technology in the country’s energy generation mix. With Government having committed itself to having, by 2020, 10% of its energy generation mix coming from renewable energy, the President indicated that his administration has put in place measures “that will help us, within a decade from there, to have renewable energy as the majority of the generation mix of our country.” This, he stressed, is to help Ghana fulfill its commitments, under the Paris Agreement, of using environmentally friendly technology to help address the issues of climate change. In addition to this, President Akufo-Addo indicated that his government is in the process of rationalising the contribution of Independent Power Producers (IPPs) to the country’s energy development. “When we came into office, we inherited a plethora of IPP agreements, all of whom were contracted at the time of our crisis and, therefore, left us in a weak position, and got us accepting tariff rates of 18 cents per kilowatt hour and over. In an area in the world where 10 cents per kilowatt hour is the maximum, we are producing IPP agreements at 18 cents per kilowatt hour,” he said. The President added, “Those are not acceptable arrangements. So, in future, we are going to insist that IPP arrangements are created out of competitive bidding, because it is only by that process that we will be able to get the competitive rates that both our domestic consumers as well as our industrial users need and can work with.” These directives, he stressed, have gone to the Ministry of Energy, Electricity Company of Ghana, for enforcement. He assured that future agreements with IPPs will only be consented to and operationalized through competitive bidding. “And then, we are in an age where renewable energy facilities are being produced domestically. So, we want to get to a situation here in Ghana whereby these solar panels are produced domestically. And it can be done within the confines of the one district one factory initiative,” he added. In total, Meinergy Ghana Ltd., has installed 64,400 solar panels, 400 smart inverters and laid 15,000 DC cables, in order to set-up the 20-megawatt plant. Casa de-Ropa President Akufo-Addo also paid a familiarization visit to the Casa de-Ropa Limited, a factory under Government’s 1-District-1-Factory initiative and supported by the EXIM Bank, located at Gomoa Beadze, near Winneba. The factory, sited on a 500-acre land, currently has over one hundred acres of sweet potato under cultivation. The factory also has developed five dams to irrigate the farms, and, thereby ensure all year farming. The company processes Orange Fleshed Sweet Potato into four main products namely “Nature’s Harvest Potato Bread”, “Nature’s Harvest Potato Crisp”, “Nature’s Harvest Potato Chips”, and “Nature’s Harvest Potato Biscuits.” ---- Credit: The Presidency
Published in General News
Chairman of Groupe Nduom, Dr. Papa Kwesi Nduom has called for calm following the banking crisis that has hit the country. The business mogul has underscored the need for the panic withdrawals to be checked before it generates negative implications for the economy. In a post on official Facebook page, Dr. Nduom said, "If we trust each other’s words of commitment, we must not panic, flock to banking halls and fight to withdraw our deposits. This fear must be checked otherwise it will sink our economy. It is also important to put partisan politics when it comes to the financial markets - jobs, enterprise, money, opportunity cannot wear political colours. We have everything going for Ghana to rise and enjoy a well-performing economy." Read Below the full post LET’S SOLVE THE CRISIS IN THE FINANCIAL MARKET TOGETHER - THE PANIC CAN SINK THE ECONOMY Government has committed itself to ensure the safety of deposits in the banking system. So deposits at regulated institutions are not at risk and will not be lost. Indeed depositors have not lost money even when a bank has collapsed. Even more important, the Bank of Ghana is implementing measures to strengthen governance at the banks. Shareholders, directors and management have been put on notice to abide by regulations. Customers have been asked to make sure they pay back funds given to them as loans. Government agencies have expressed the willingness to source funds to pay contractors and suppliers. If we trust each other’s words of commitment, we must not panic, flock to banking halls and fight to withdraw our deposits. This fear must be checked otherwise it will sink our economy. It is also important to put partisan politics when it comes to the financial markets - jobs, enterprise, money, opportunity cannot wear political colours. We have everything going for Ghana to rise and enjoy a well-performing economy.
Published in Business
Nigeria’s finance minister has resigned over allegations she used a forged certificate to avoid the country’s mandatory one-year youth service scheme. Kemi Adeosun, who lived in the UK until she was 34, said she had been told she was exempt because she was over 30. The former investment banker said she was issued with a certificate that she thought was genuine. But an internal investigation showed that it was forged. Ms Adeosun’s resignation follows months of speculation in local media about whether her National Youth Service Corps certificate was genuine. The dual Nigerian and British national did not initially comment on the claims, leading to criticism from her opponents. However in a statement, she said she felt bound to resign after the investigation result became known. “This has come as a shock to me and I believe that in line with this administration’s focus on integrity, I must do the honourable thing and resign,” she said. Ms Adeosun was appointed as finance minister by President Muhammadu Buhari in 2015. Her main policy was a bid to improve tax collection and crack down on mismanagement by government agencies. The minister of state for budget and national planning, Zainab Ahmed, will oversee the finance ministry with immediate effect, the presidency said. Nigerian university students have to do a year of national service upon graduation as a way of ensuring that graduates contributed to Nigeria’s development. Corp members are posted to states outside their state of origin to encourage national unity. Nigerian graduates are not eligible for government work or many private jobs until they have completed the mandatory year of service. Source: BBC
Published in Finance
The National Entrepreneurship and Innovation Plan on Friday, September 14, 2018 held another Presidential Business Support Program disbursement Ceremony, for beneficiaries of its business Support Program. Vice President, Dr. Mahamudu Bawumia presented the Cheques to 264 beneficiaries from the three Northern Region. The selected beneficiaries are to receive funding support for their businesses ranging from GHC 10,000 to GHC 100,000. The Presidential Business Support Programme is an initiative of the Akufo-Addo led government to provide financial support to startups to facilitate private sector growth and job creation Visit http://neip.gov.gh/how-to-apply/ to apply for funding and business advisory support from Government.
Published in General News
The Omanhene of Assin Traditional Area, Nana Abor Ankobea V, has passionately appealed to President Nana Akufo-Addo to deal with activities of land guards in his area. The traditional leader says the activities of land guards has reached a level beyond the control of the police hence the need for the immediate intervention of the president. The land guards he lamented have become a third force in his traditional area, tormenting and violating the rights of residents. He warned the situation may reach a point where people maybe in their rooms and land guards will pounce on them, attack and even kill them. "The land guards in this area cannot be controlled by the police. They are much stronger than the police. They are tormenting us. The major issue we face in this area is the activities of land guards. They are disturbing and tormenting my people. I am appealing to the president to intervene" He also disclosed the Minister for the region promised to deal with the matter but after three months, the land guards have started their unlawful activities again.
Published in General News
Special Development Initiatives Minister who is also the Awutu East constituency MP, Mavis Hawa Koomson, has slammed critics who have said the one-million per constituency promise by President Akufo-Addo has not been fulfilled. The money, made available to the constituencies, is currently being used to finance developmental projects for the benefit of the people, she has posited. Speaking to chiefs and people in her constituency, she admonished them to disregard any negative reportage and comments on the promise because the money, has been allocated and being used as planned. She said “The 'one million dollar for each constituency' campaign promise by President Akufo-Addo is being implemented across the country and people are benefiting from it. " “As I speak with you, contracts for the construction of boreholes and toilet facilities have been awarded across the constituencies and they are being financed through the 'one million dollar for each constituency.'” She also made reference to the dams being constructed in the northern part of Ghana, warehouses being constructed in Winneba and other projects. The President she stressed will be accountable to Ghanaians hence the need for the chiefs and people to trust and support him.
Published in General News
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