APA – Accra (Ghana)
The report that President Akufo-Addo has said that the government has initiated a number of policies aimed at reducing the general cost of doing business to promote investor confidence in the country is one of the leadinf stories in Nigerian newspapers on Monday.
The Ghanaian Times reports that President, Nana Addo Dank¬wa Akufo-Addo says government has initiated a number of policies aimed at reducing the general cost of doing business to promote investor confidence in the country.
“Our focus has therefore, been on improving infrastructure and service delivery through road net¬work rehabilitation and expansion, railway rehabilitation and re-de¬velopment, modernisation of our various ports and the creation of a digital economy,” he stated.
With the emergence of the new trade routes through the African Continental Free Trade Area (Af¬CFTA), with the unique opportu¬nity to enhance inter-African trade and industrialisation, the President stated that government was deter¬mined to invest in logistics infra¬structure to support the growing continental market.
In a speech read on his behalf at the Chartered Institute of Supply Chain Management (CISCM’s) maiden recognition and Awards Dinner Night in Accra, over the weekend, President Akufo-Addo said it was against this backdrop that expansion works at the Tema Port have been completed to increase its capacity to handle the increasing volumes of traffic.
The event held on the theme: ‘Integrated Supply Chain Manage¬ment: A Catalyst for Development,’ saw a total of 31 organisations, institutions and personalities in the sector being awarded for their excel¬lent performance over the past year.
The President whose speech was read on his behalf by the Minister of Transport, Kwaku Ofori Asia¬mah said at the Takoradi Port, the development of phase one of the On-Dock Multi-Purpose terminal had been completed while in the aviation sector, the Tamale airport has also been upgraded into an international status while upgrade of the Kumasi airport was nearing completion.
“Let me also add that, freight operations along the Volta Lake will be enhanced with the completion of the Mpakadan railway line. As we push forward for an Integrated Supply Chain Management System, it is important that we build part¬nerships across the global supply chain to ensure remain competitive to drive growth and development.”
The newspaper says that the government has announced that it has reached an agreement with its Official Creditors under the G20 Common Framework on a com¬prehensive Debt Treatment under Ghana’s Extended Credit Facility programme with the International Monetary Fund (IMF).
The agreement with the Of¬ficial Creditors paves way for the IMF Executive Board to approve the first review of the Fund-sup¬ported programme to allow for the second tranche of IMF financing of US$600 million to be disbursed under the three-year $3 billion deal.
A statement issued by the Ministry of Finance on Friday and copied to the Ghanaian Times said, “The development constitutes a significant positive step towards restoring Ghana’s long-term debt sustainability.”
“The Government of Ghana commends the support and co¬operation of its Official Creditors in reaching this agreement, which demonstrates a mutual commit¬ment to restoring debt sustainabili¬ty in line with the IMF programme targets,” it said.
The Finance Ministry said the government was confident that “this debt treatment, which entails significant flow relief during the programme period, will allow for the allocation of additional financial resources towards critical public investments, particularly in healthcare, education, and infra¬structure development”.
The Finance Ministry said the terms of the agreed debt treatment were expected to be formalised in a Memorandum of Understand¬ing between Ghana and Official Creditors, which would then be implemented through bilateral agreements with each member of the Official Creditor Committee.
“The Government of Ghana looks forward to further engag¬ing with the Official Creditors to ensure prompt implementation of the agreed terms. The IMF Board Approval should also trigger World Bank Board consideration of US$300 million Development Policy Operation (DPO) financ¬ing,” the statement said.
According to the Ministry of Finance, the World Bank was expected to support the Ghana
The Ghanaian Times also reports that the ECOWAS Court of Justice has called on mem¬ber states to implement its judgments on cases brought before it.
According to the court, many of its judgments were not being enforced by member states due to the lack of political will.
Addressing a press conference in Accra on Friday, the Head of Legal Services and Research of the Community Court of Justice (CJJ), Apraku Nketiah, revealed that more than 100 judgments remained unimplemented.
He said non-enforcement and low level of compliance of judgments was a major challenge of the court.
The press conference was to draw down the curtains on a week-long sensitisation mission embarked on by a delegation of the court in Ghana as part of efforts to create public awareness of its activities.
It met various stakeholders including the Office of the Attorney General and Minis¬try of Justice, the Ghana Bar Association, representatives of Ministries, Departments and Agencies and law students.
Mr Nketiah said the court could not sanction member countries who were non-compliant, due to external and internal factors, including its inability to activate the necessary judicial protocols for sanctions.
“There is a protocol for sanction regime, but it needs to be initiated by a judgment creditor, using the relevant institutions that have been provided in the protocol. For instance, you can go to the ECOWAS pres¬ident and then you make your case to him that there is an outstanding judgment that has not been fulfilled.
“From there, the ECOWAS President can take some steps to activate the sanc¬tion regime. Until the judicial aspect of the sanction is activated by the relevant authorities coming to the court, the court itself cannot deal with those sanctions,” he explained.
The Graphic says that Ghana’s goalkeeper, Richard Ofori, has found himself under the spotlight after Ghana’s unexpected loss to Cape Verde in the 2023 Africa Cup of Nations (AFCON) match in Cote d’Ivoire.
Despite the criticism, Ofori is defending his performance, attributing the defeat to a collective breakdown in defence.
In a postgame interview, Ofori addressed the concerns surrounding his role in Cape Verde’s opening goal, scored by Jamiro Monteiro in the 17th minute.
Ofori, who plies his trade with Orlando Pirates, asserted that he executed what was expected of him by parrying a shot from the edge of the box.
However, he explained that his efforts were thwarted by the absence of his teammates in completing the crucial clearance that would have averted the goal.
“The ball was bouncing in front of me, and the ball was also going far away from me, so I needed to stretch and just direct the ball to the side, but unfortunately, my players were not there to block. It happens in the game, and we need to concentrate and focus on the second game; that’s the most important thing,” Ofori said.
Ghana’s head coach, Chris Hughton, also remarked at a post-match press conference that Cape Verde’s early goal had a profound impact on the team, describing it as a moment that “rocked” the Black Stars.
Despite the setback, Ofori urged a collective focus on the upcoming match against Egypt on Thursday, January 18.
GIK/APA