APA – Accra (Ghana)
The report that the Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has maintained the policy rate at 30 per cent, citing strong growth and drop in inflation dominates the headlines of Ghanaian press on Tuesday.
The Ghanaian Times reports that the Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has maintained the policy rate at 30 per cent, citing strong growth and drop in inflation.
The policy rate is the rate which the BoG lends to commercial Banks in the country.
The Chairman of the MPC, Dr Ernest Addison, who disclosed this at a press conference in Accra yesterday after the 114th regular meeting of the MPC, said the Committee took the monetary stance because of the positive macroeconomic conditions.
“On the domestic front, the Committee observed the overall improving macroeconomic conditions with relatively strong economic growth and drop in inflation in August. Economic activity is rebounding strongly, the exchange rate is stabilising, inflation is declining, and level of foreign exchange reserves has improved. Sustained improvement in these indicators should result in the restoration of real incomes and purchasing power,” he stated.
The Governor said the economic growth was relatively strong in the first half of the year and the strong growth outturn observed in the first half of 2023 was expected to continue in the third quarter.
Dr Addison said the latest data released by the Ghana Statistical Service show real Gross Domestic Product growth at 3.2 per cent in the second quarter of 2023, marginally down from 3.3 per cent in the first quarter, and compared with 3.5 per cent in the same period of 2022.
The Governor said inflation was declining and the disinflation process has resumed, which should result in a gradual return towards the target band over the medium-term.
The newspaper says that Small and Medium-scale Enterprises (SMEs) have been urged to take advantage of the upcoming Vodafone Business Runway event to bolster their growth and resilience in an ever-evolving marketplace.
Ms Tawa Bolarin, Vodafone Ghana’s Director of the Enterprise Business Unit, who made the call at the launch of this year’s SME month in Accra yesterday, said, “In today’s dynamic business landscape, it’s crucial for SMEs to equip themselves with the right tools and knowledge. The Vodafone Business Runway is not just an event; it’s an opportunity.”
This year’s event is themed “Good to Great with Vodafone: Innovate, Comply and Expand”.
Industry experts expected to speak at the event include Ama Bawuah, Board Chair of Access Bank, and Charlotte Amankwah, Director of Commercial Business Banking at Ecobank Ghana, and they will speak on the topic “Accessing Sustainable Finance”.
Andrew Ackah, CEO of Dentsu Ghana, will share insights on “Building Innovative Brands”. Dr Abdallah Ali-Nakyea, Managing Partner at Ali-Nakyea & Associates, will delve into the intricacies of “Navigating the Tax Maze”.
“We understand that not everyone can be physically present, but we believe in leaving no one behind. Our hybrid event model ensures that all interested SMEs, regardless of their location, can benefit from the insights shared,” Tawa added.
She said, “Beyond the Business Runway, Vodafone Ghana has consistently shown its commitment to the SME sector. As part of the SME Month, the company has rolled out a comprehensive suite of initiatives, including the introduction of 4G+ connectivity, device financing schemes, and the innovative One Business offering, designed to provide companies with a holistic communication solution.”
The Ghanaian Times also reports that Ghana is to host this year’s United Nations (UN) Peacekeeping Ministerial Meeting, the first to be held in Africa, since its inception in 2014.
The biennial meeting would focus on securing commitments from UN Member States to fill critical gaps, leverage new technologies and address key priorities to enhance operational effectiveness of missions.
The 5th edition, scheduled to take place in Accra from December 5 to 6, 2023, would bring together all UN Member States, represented on the Special Committee on Peacekeeping.
The Minister of Foreign Affairs and Regional Integration, Shirley Ayorkor Botchwey, disclosed this at a press launch, jointly organised by the UN Secretariat and Ghana at the UN Headquarters in New York, on Friday, and monitored by the Ghanaian Times.
The UN was represented by Under-Secretary-General for Peace Operations, Jean-Pierre Lac-roix; Under-Secretary-General for Management Strategy, Policy and Compliance, Catherine Pollard, and Under-Secretary-General for Operational Support, Atul Khare.
Ms Botchwey said the meeting was aimed at strengthening UN Peacekeeping in line with the Secretary-General’s Action for Peacekeeping (A4P) initiative and the A4P+, its implementation strategy for 2021 to 2023.
“The meeting will provide an opportunity to explore ways by which Member States can generate high-performing and specialised capabilities and other pledges that meet UN needs as well as new or expanded, sustainable capacity-building, training, and equipping partnerships in key areas,” she said.
Ms Botchwey said the 2023 Ministerial meeting would focus on five themes; Protection of Civilians, Strategic Communications (including misinformation disinformation and hate speech), Safety and Security, the Mental Health of Peacekeepers, and Women in Peacekeeping.
The Graphic says that Heads of State must prioritise the prevention and control of non-communicable diseases (NCDs) by investing more, President Nana Addo Dankwa Akufo-Addo, has said.
“As members of the Global Group of Heads of State and Governments, we must continue to raise the priority accorded to the prevention and control of NCDs,” he added.
This was contained in a speech read on behalf of the President by the Minister of Health, Kwaku Agyeman-Manu, at the Global Group of Heads of State on the prevention and control of NCDs.
The meeting was held on the margins of the ongoing 78th UN General Assembly in Manhattan, New York.
The World Health Organisation (WHO) has said that although 80 per cent of diseases were preventable and modifiable in most cases, NCDs such as cancer, diabetes, heart or lung diseases remained the leading causes of death globally.
The President is the co-chair of the Group which meets annually to build momentum and engage global leaders to take ownership of the NCD agenda on the road to the fourth High-level Meeting on NCDs in 2025.
The second meeting, among others, was to deliberate on the Global NCD Compact 2020-2030 and showcase national and international actions on NCDs and SDGs.
GIK/APA
Ghanaian press zooms in on BoG maintaining policy rate at 30%, others
