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Government used over $4 Billion to stabilise the Cedi – Oppong Nkrumah reveals
Former Minister for Information, Kojo Oppong Nkrumah, has revealed that the government has used more than four billion dollars from the country’s reserves to help stabilise the Ghanaian cedi.
He explained that the government released the money onto the market to control the exchange rate and reduce pressure on the local currency.
According to him, this move helped the cedi to appreciate for some time and contributed to slowing down inflation.
Mr. Oppong Nkrumah said the decision formed part of broader measures by the government and the Bank of Ghana to bring down inflation, which now stands at 9.4 percent.
He added that when the cedi becomes stable, the prices of imported goods also stop rising quickly, which helps to reduce the cost of living.
However, the minister admitted that prices are still high, especially for food items, due to challenges in local production and transportation.
He explained that while imported inflation has been controlled, domestic inflation remains a concern because farmers continue to face problems such as access to fertilizers, fuel, and storage facilities.
By: Jacob Aggrey
The Heartfelt Philanthropy Network and fellows of Elevate Africa Fellowship have visited the Street Academy in Accra to support its efforts to improve the welfare and development of children.
The visit formed part of efforts by the organisations to give back to the community and promote opportunities for children through education, healthcare and other social support programmes.
Ms Yvonne Abba-Opoku, Founder and Director of the Heartfelt Philanthropy Network, said the organisation had supported the Street Academy since 2019 because of its commitment to serving vulnerable children. Read More.
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Alberta Afia Asomaniwa Akoto, popularly known as “Landlady,” has declared her intention to contest as the Parliamentary Candidate for the New Patriotic Party (NPP) in the Okaikwei North Constituency.
In a statement shared on Friday, Ms. Akoto said Okaikwei North has been her home for more than 40 years, where she has lived among the people, shared in their joys and challenges, and built lasting connections with the community.
“I am in the race because I believe our community deserves dedicated service, a listening ear and a strong voice. I am ready to work with you, listen to your concerns and help build a brighter future for Okaikwei North,” she said.
“Dear Okaikwei North, your girl is here one of your own, ready to serve,” she added.
Ms. Akoto said service is not just a responsibility but a commitment to the people and the community they call home.
Having dedicated herself to serving and supporting the people of the constituency, she said she wishes to continue the journey of service with renewed commitment, greater dedication and a stronger vision.
Her vision, she noted, is to build on the progress made, listen to the concerns of the people, empower the youth, support women, create opportunities and champion development that benefits every community in the constituency.
“I believe that together, we can build a stronger, more prosperous and inclusive Okaikwei North,” she added.
By Edem Mensah-Tsotorme
