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3 Business holds maiden Economic Summit
Media General has organised a maiden 3Business Summit which brought economists together to proffer solutions to Ghana’s economic woes.
The event dubbed The Economic Sustainability Summit was held on Tuesday, April 4, at the Marriot Hotel in Accra.
Addressing the summit in his opening address, the General Manager of 3Group, Francis Doku said, the initiative which is one of many to come is aimed at discussing the drivers of Ghana’s economy and economic efforts.
He said the maiden edition focused on public debt and the ongoing debt restructuring programme which had triggered heated debates and reactions in the country.
According to Mr Doku, the government had made significant progress on the Domestic Debt Exchange Programme with a subscription rate of approximately 85 per cent of eligible bonds.
He said that notwithstanding the pressing need to address Ghana’s mounting debt, factors driving it and the potential socio-economic implications of the country’s approach towards debt restructuring have received limited attention.
According to him, this lack of discussion could lead to a limited understanding of the entire process for the public and impede efforts to identify effective solutions that ensured the long-term sustainability of the economy.
“For us at Media General and especially at 3 Business, and with the buy-in of our partners ACEP and Imani Africa, we thought that it was indeed time to place the Debt Restructuring Programme on the chopping board and to ignite discussions,” he said.
Professor Godfred Bokpin who opened the event with a lecture revealed that even though Ghana’s debt was classified as high risk, there was no need to restructure the debt, because the country still had market access.
He added that after restructuring the country’s debt, Ghana has lost out on market access to international and domestic capital markets.
The Professor of Finance presented charts showing the distance between Ghana and her independence peer, where the Gross Domestic Product gap had widened.
“You’ll be 78 times better off living in Malaysia than Ghana and 80 times better living in Singapore, I’m not saying relocate, but is doable if we want to,” he said.
Other speakers like Executive Director of ACEP, Benjamin Boakye, Economist and Prof. of Finance, Godfred Alufar Bokpin, Senior Partner, AB and David Africa, David Ofosu Dorte, Financial Consultant, Doris Ahiati, and Executive Chairman, Kleeve and Tove, Senyo Hosi shared their knowledge on the subject.
By Edem Mensah-Tsotorme
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Manhyia would serve as Ghana’s unifying force …Otumfuo assures on commemoration of 27 years on the Golden Stool
The Asantehene, Otumfuo Osei Tutu II, last Friday celebrated his 27th enstoolment with a colourful and culture-rich ceremony at the Manhyia Palace in Kumasi, drawing a distinguished gathering of dignitaries from across Ghana and beyond.
Clad in splendid kente and adorned in rich traditional regalia, the dignitaries added colour and elegance to the occasion, as the palace grounds came alive with a vibrant display of Ghanaian culture.
Traditional drumming, dancing and symbolic rites underscored the deep-rooted heritage of the Ashanti Kingdom, captivating guests and reaffirming the value of tradition in modern society.
Speaking at a high-level Executive Gala organised by the Diaspora Affairs Office of the Office of the President in strategic partnership with the E ON 3 Group, the ‘World-Meets-in-Ghana’ gala, the Asantehene urged Ghanaians to guard against the divisive tendencies of partisan politics.
The event was to honour the Asantehene’s nearly three-decade reign under the theme ‘Advancing Peace and Sustainable Economic Development through Royal Vision’.
Otumfuo Osei Tutu II noted that such attitudes threatened the country’s long-standing values of unity, civility and brotherliness.
He assured that Manhyia would continue to serve as a unifying force for the nation.
The celebration also featured the presentation of commemorative gold coins to notable national leaders, including the President, John Dramani Mahama, former Presidents John Agyekum Kufuor and Nana Addo Dankwa Akufo-Addo as well as Dr Mahamudu Bawumia, a former Vice President in recognition of their contributions to peace and national development.
By Spectator Reporter
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Energy Minister announces full restoration of power generation units after major grid disruption
Energy Minister, John Jinapor has announced that all power generation units affected by the recent national grid disruption have been fully restored and are back in service.
According to the Minister on social media, engineers, technicians and emergency response teams worked continuously to restore electricity supply and stabilise the national grid after the incident caused major challenges within the power sector.
In a statement, the Minister praised the efforts of personnel from the Ghana Grid Company Limited, Volta River Authority and Electricity Company of Ghana for their commitment and coordination during the emergency.
“Mission accomplished. All generation units are now back in service,” the Minister stated.
He explained that despite the scale of the disruption, technical teams worked around the clock to restore power and secure stability within the system.
“Through their tireless work, discipline, and commitment to country, power has been restored and system stability secured,” he said.
The Minister further expressed appreciation to the leadership and staff of GRIDCo, VRA, ECG and other supporting agencies for their collective response to the crisis.
According to him, the successful restoration of the system demonstrates the resilience and capability of Ghanaian professionals in times of national difficulty.
“This moment shows that even under pressure, Ghana can rely on the strength and skill of its people,” he added.
The Minister offered prayers for the country’s energy sector and the engineers who led the restoration efforts.
“May God bless our engineers, our energy sector, and our nation,” he stated.
By: Jacob Aggrey
