Ghana: Press focuses on sustained pick-up in economic activity in 1Q

The report of high frequency real sector indicators point to a sustained pick-up in economic activity through the first quarter of 2024 is one of the trending stories in the Ghanaian press on Tuesday.
The Graphic reports that high frequency real sector indicators point to a sustained pick-up in economic activity through the first quarter of 2024.
According to analysis of the domestic economy, the updated real Composite Index of Economic Activity recorded an annual growth of 2.1 per cent in March 2024, compared to a contraction of 6.4 per cent in the corresponding period of 2023.
The pick-up in the index is said to have been driven mainly by increased imports, private sector contributions to the Social Security and National Insurance Trust (SSNIT), and tourist arrivals, the Monetary Policy Committee of the Bank of Ghana said in its May report released in Accra.
For instance, SSNIT launched a major campaign dubbed “Self Employed Enrolment Drive (SEED)” a couple of years ago which has caught up well with players within the private sector.
As of the last quarter of 2023, more than 70,000 self-employed persons had enrolled and counting fast.
Analysts, however, fear that the latest development regarding the purported sale of SSNIT’s stake in some four hotels, including profit-making Labadi Beach Hotel, may slow the progress of the SEED initiative for lack of trust.
They, however, urged the management of the Tier One pension scheme to be resolute to disabuse the minds of potential contributors to enable the scheme’s financial portfolio to grow according to the objectives for which the campaign was launched.
The report also said Ghana’s Purchasing Managers’ Index (PMI) signalled an improvement in business activity as the index rose to 51.3 in April 2024 from 50.9 in March due to improved consumer demand.
The newspaper says that parties in the case in which a farmer is seeking to stop Parliament from proceeding with the Proper Human Sexual Rights and Ghanaian Family Values Bill, 2021 Bill, popularly known as the anti-gay bill, have been given four weeks to file their written submissions.
It is the case of Paul Boama-Sefa that the Speaker of Parliament, Alban Sumana Kingsford Bagbin, failed to insist on the estimated effect the bill would have on revenues and expenditures for the financial year in which the bill was proposed.
Joined to the suit is the Attorney-General, Godfred Dame, as a defendant.
The suit challenging the bill, which was passed by Parliament on February 28, 2024, was filed in May 2023.
When the case was called Monday [June 3], counsel for the applicant, Benedict Nii-Kraku, and state lawyers informed the court presided over by Ellen L. S. Mireku that he needed at least four weeks to file the submission.
The court gave all parties, the plaintiff, the Speaker of Parliament and the Attorney-General four weeks to file the submissions.
The case has been adjoined to July 29, 2024.
The plaintiff said the non-compliance with the statutory requirements relating to the laying of the Bill and the complete disregard of the Attorney-General’s advice indicated an intention by the Speaker not to comply with the express provisions of Act 921 and by extension the laws of Ghana.
The Ghanaian Times reports that Members of Parliament have been recalled from recess to commence the third meeting of the fourth session of the Eighth Parliament of the Fourth Republic on June 27.
The notice of commencement, issued by the Speaker of Parliament, Alban Sumana Kingsford Bagbin, on Monday, May 27, 2024, gave Parliament House, Accra, as the venue for the meeting.
The recall is in pursuance to Order 58 of the Standing Orders of Parliament and Article 112 of the 1992 Constitution which clothes the Speaker with the powers of summoning and dissolution of the House.
Being the penultimate meet­ing before the dissolution of the legislative assembly on January 6, 2025, the upcoming meeting is expected to be eventful with the presentation of the 2024 mid-year budget review and other government businesses.
Also high on the agenda would be the approval of tax waivers to the tune of US$350 million for 42 One District One Factory companies pending before the House.
The request for waiver was one of the three reasons the Majority caucus triggered an emergency recall a fortnight ago.
Mr Alexander Afenyo-Markin, Majority Leader and MP for Effutu, has since impressed on his colleagues in the minority to support the government to grow the economy and is expected to push that agenda when the House reconvenes.
The meeting is also expected to be used to deliberate on a number of government-sponsored Bills before the House including the Affirmative Action Bill, private member bills, resolutions and a number of petitions to the Speaker as has been hinted by some of the members.
A former Chief Ex­ecutive Officer (CEO) of the Mental Health Authority, Professor Joseph Bediako Asare, has called on the government to replace the COVID-19 levy with a Mental Health Levy.
He explained that it would help address pressing mental health issues confronting the country, which he said required urgent attention and adequate funding.
Prof. Asare, speaking at a forum on mental health at the Ghana Institute of Management and Public Administration (GIM­PA), Accra, stressed the need for substantial funding and prioritisa­tion of mental health.
The event was organised by the GIMPA chapter of the Graduate Students’ Association of Ghana, on the theme: ‘Movement: Moving More for Mental Health, What the Graduate Students Need to Know.’
“Enough funding is needed to tackle mental health in this country, and it is sad that it is not getting the attention it deserves. It is unfortunate that even the mental health law is taking a long time to be implemented,” Prof. Asare said.
He expressed concern over the increasing number of mentally challenged individuals roaming the streets, posing risks to themselves and others.
Prof. Asare highlighted the importance of early treatment of mental illness, and urged the public to avoid stigmatising individuals with such health problems.
“When such persons are accepted, they begin to feel loved, but the moment we begin to stigmatise them, they begin to feel worthless,” he said.
.GIK/APA