Ghanaian press spotlights renewal of ties of cooperation between Ghana, Italy, others

APA – Accra (Ghana)
The report that Ghana and Italy have renewed their commitments to deepening the ties of co-op¬eration, bonds of friendship that exist between the two countries is one of the leading stories in the Ghanaian press on Monday.
The Ghanaian Times reports that Ghana and Italy have renewed their commitments to deepening the ties of co-op¬eration, bonds of friendship that exist between the two countries, and to continue to explore areas of mutual interests for the benefit of their respective populations.
This was made known on Friday when the President, Nana Addo Dankwa Akufo-Addo, held bilat¬eral discussions with the President of the Republic of Italy, Sergio Mattarella, at the Quirinal Palace, in Rome, Italy, as part of the Presi¬dent’s four -day official visit to that country.
Welcoming President Akufo-Ad¬do, his Italian counterpart lauded Ghana’s continued adherence to the tenets of democracy, good governance, the rule of law and to the principles of democratic accountability, all of which, he said, have made Ghana a beacon of democracy and stability not only in West Africa, but also on the continent of Africa.
President Akufo-Addo, on his part, noted that Ghana and Italy have had strong relations span¬ning several decades, which have resulted in many Italian companies being successful in their opera¬tions in Ghana, citing the Italian engineering firm, Impregilo, which constructed the Akosombo Dam, as an example.
Reiterated Ghana’s commitment to working with Italy, the President thanked the Italian President for the support given to Ghana by Ita¬ly, a member of the Creditor Com¬mittee for Ghana under the G20 Common Framework for Debt Treatments, in the restructuring of Ghana’s finances, which helped her secure a $3 billion Extended Credit Facility from the International Monetary Fund.
Collaboration with Italy in the development of the Ghana’s phar-maceutical and agro-based indus¬tries, President Akufo-Addo said, was high on the agenda of his visit, and indicated that it will be one of the matters he will bring up in his discussions with the Italian Prime Minister, Giorgia Meloni, which is scheduled to take place today.
Both leaders agreed that the quest for the development of their respective economies will not be possible in conditions of chaos and armed conflict. To this end, President Mattarella applauded the role being played by Ghana in helping to confront the jihadist and terrorist threat in the Sahel.
The newspaper says that the Ghana Stock Exchange (GSE) will launch its Commercial Paper Market (CPM) product before the end of the third quarter of this year, Managing Director, Abena Amoah, has said.
She said the move was to diversify the products on the GSE and help promote liquidity on the Accra bourse.
Speaking at a seminar dubbed ‘Developing a Commercial Paper Market in Ghana’ to educate play¬ers in the banking and financial sector on the CPM product, Ms Amoah explained that Commer¬cial Paper (CP) was essentially a short-term debt instrument to help companies to raise money with tenure of not more than one year to meet their short financial needs.
The Managing Director said the decision to introduce the product followed the high demand by companies and players in the fi¬nancial sector for such a product.
Ms Amoah indicated that the private pension funds had more than GH¢51 billion assets under management and these funds had to be deployed to accelerate the socio-economic development of the country.
She said a private market exist­ed for CP but there was no visibil­ity for the market, saying “What we are going to do is an organised CPM with rules about who can participate in the market, what kind of investment the issuer qualifies for the market, rules on documentation and information.”
The Managing Director of GSE explained that the GSE had currently completed the guidelines and rules on the CPM and was awaiting approval from the Securities and Exchange Com­mission (SEC) to roll out the product.
The Ghanaian Times also reports that President Nana Addo Dankwa Akufo-Addo has accepted the resigna¬tion of Cecilia Abena Dapaah from office as the Minister of Sanitation and Water Resources.
The embattled minister tendered in her resignation on Saturday July 22, 2023 following reports that her domestic workers have allegedly stolen huge sums of money from her Abelemkpe residence here in Accra
In a letter accepting the minister’s resignation, President Akufo-Addo applauded Ms Dapaah’s loyalty to the government and said her integ¬rity would be established.
“It is with considerable regret that I accept your resignation, and I applaud your loyalty to the image and standing of the Government.
“The work you undertook during your time in Government was excel¬lent and productive and I thank you for your wholehearted contribution and devotion to the progress of the Government and the nation.
“I am confident, like you, that, at the end of the day, your integrity, whilst in office will fully be estab¬lished,” the letter addressed to Ms Dapaah said.
She has been the subject of social and traditional media discussion since news broke that her domes¬tic worker and her predecessor connived to allegedly steal US$1 million, €300,000, GH¢350,000, assorted clothes worth GH¢95,000, handbags US$35,000, and perfumes worth US$1,400 belonging to Ms Dapaah and her husband, Daniel Osei Kuffuor.
In her resignation letter dated Saturday July 22, 2023, and ad¬dressed to Akufo-Addo, Ms Dapaah said it had been a privilege to serve in the government.
“It has been a great privilege and honour for me to have been given the opportunity to serve in your government and an even greater honour to have worked to try and bring your great vision for our country to fruition.”
According to her, reports about the alleged theft in the house she lived with her husband and daughter sought to suggest that she owns various huge sums of foreign currencies and millions of Ghana cedis which have been stolen from her home.
The Graphic says that Ghana and the Vatican have reaffirmed their commitment to foster closer collaboration, particularly in the areas of education and health care.
They also discussed issues about the political, social and economic situation in Ghana, as well as global peace matters, including the need to improve security in West Africa.
This came to light when President Nana Addo Dankwa Akufo-Addo paid a courtesy call on Pope Francis, the Head of the Catholic Church in Rome, as part of his four-day official visit to Italy.
They further stressed the need to continue with the “good relations” between Ghana and the Holy See.
President Akufo-Addo was taken on a tour of the Pontifical Academies of Sciences at the Vatican by its Chancellor, Cardinal Peter Kodwo Appiah Turkson, a Ghanaian who assumed the position in 2022.
President Akufo-Addo left Accra for Portugal at the invitation of President Marcelo Rebelo de Sousa on Monday, July 17, 2023.
While in Lisbon, the President participated in the EurAfrican Forum, organised by the Portuguese government on Wednesday, July, 19, 2023.
President Akufo-Addo later travelled to Italy at the invitation of the European Corporate Council on Africa and the Middle East (ECAM).
He is expected to give the keynote address at the 4th ECAM Annual Summit scheduled to take place from July 23 to July 24, 2023.
GIK/APA