News
COVID-19: Some traders at Accra Arts Centre close shops over low sales

Once a vibrant tourist haven of Ghana filled with Ghanaians from the diaspora and other foreign nationals, has virtually become dormant, following the outbreak of coronavirus across the globe.
The Accra Arts Centre which is one of the biggest craft markets in the country, had been in existence for about three decades. Tourists could purchase items ranging from woven kente clothes, paintings, wooden sculptures, earrings, textiles and other fashion accessories.
Some traders revealed that prior to the outbreak of COVID-19, they used to make between GH₵500 and GH₵1,000 of sales in a day, depending on your products.
The centre housing over 300 shops, can now boast of a paltry 40 opened shops, after some owners decided to close theirs over low sales and patronage, Vice President of Kente and Adinkra Manufactures Association, Kwame Amakye told The Spectator.
Narrating their challenges to the paper, Kwame Amakye who also plied his trade at the centre for the past 28 years, said following the outbreak of COVID-19 and the closure of borders worldwide, their sector has become one of the hardest hit, making it difficult for traders.
He said majority of their clients were mostly Ghanaians from the diaspora and other foreign tourists, which had been whittled down by the pandemic.
According to him due to the development, most sales have dwindled sharply, making it unprofitable because people incurred transportation cost to the centre, and ended up not making any sales to make ends meet.
“As a result, many shop owners, have decided to stay home, until the situation is improved,” he said.
He added that some of them made it an effort to come, just to ensure that the market did not collapse, in view of the challenges.
Mr Kwame Amakye appealed to government to as a matter of urgency to stimulate the sector, because COVID-19 had dealt a big blow to them. He said every process for the stimulus package must be fast-tracked to save lives and families.
“Sometimes, you receive a call from a colleague requesting for GH₵50, for his family to feed on for that very day, and I ask myself, what happens to the following days?” he quizzed.
A trader, Kwabena Kakra also told the paper that the government’s stimulus package is their only hope for activities to bounce back in the midst of the difficulties
“It is our prayer that a vaccine is found within this shortest possible time to bring situation under control,” he said.
Following the outbreak of COVID-19, movement of people across borders had come to a standstill as countries closed their entry points to contain the virus.
By Edem Mensah-Tsotorme
News
Government Pays GH¢9.7 Billion Coupon Under the Domestic Debt Exchange Programme (DDEP)

The Government of Ghana has paid GH¢9.7 billion as part of its debt obligations under the Domestic Debt Exchange Programme (DDEP).
The Minister of Finance, Dr. Cassiel Ato Forson said the payment amounted to GH¢9,698,815,220.17.
This brings the total payments made under the programme this year alone to GH¢19.4 billion.
According to the minister in a facebook post, the payment shows government’s commitment to honouring agreements made under the DDEP and is expected to boost investor confidence in the economy.
He stated that government has also created two sinking fund accounts one in cedis and another in US dollars to help manage future debt payments.
These funds, introduced he said is in line with the 2025 Mid-Year Fiscal Policy Review and backed by the Public Financial Management Act, meant to ensure that upcoming loan obligations due between 2026 and 2028 are paid on time.
The Finance Minister assured investors and the public that all future debt commitments, including those under the DDEP, will be fully honoured without delays.
By: Jacob Aggrey
News
President Mahama appoints Biadela Mortey Akpadzi chairman of the Ghana Gold Board Tribunal

President John Dramani Mahama has appointed Mr. Biadela Mortey Akpadzi as chairman of the newly inaugurated Ghana Gold Board Tribunal.
The appointment is in line with Section 55 of the Ghana Gold Board Act, which provides for the establishment of the Tribunal to strengthen governance and accountability in the gold sector.
The Finance Minister, Dr. Cassiel Ato Forson on Tuesday inaugurated the Tribunal, which also includes Ms. Hamidu Mariam and Mr. Justin Pwavra Teriwajah as members.
The finance minister congratulated the appointees and assured them that government would soon appoint a Registrar and provide staff to support the effective functioning of the Tribunal.
The Tribunal will consider appeals on decisions made by the Gold Board, particularly matters relating to licensing and rulings of the Dispute Resolution Committee.
By: Jacob Aggrey