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Minority urges BoG to channel part of sterilized funds into VCTF
The Minority has called on the Bank of Ghana (BoG) to channel part of the 60 billion cedis it has sterilized into the Venture Capital Trust Fund (VCTF) to support young entrepreneurs and businesses.
The Ranking Member on the Economy Committee in Parliament, Kojo Oppong Nkrumah, said the Central Bank admitted to mopping up over 60 billion cedis from the economy since January this year as part of measures to reduce inflation.
He explained that the sterilization programme was meant to control excess liquidity by withdrawing money from circulation.
However, he noted that while this may slow down demand and price increases, it also locks up huge sums of money that could otherwise support economic growth.
According to him, channeling part of the funds into the VCTF would provide equity support for young people and businesses with viable ideas.
Unlike bank loans, he saidthe VCTF offers equity investment without interest, making it easier for entrepreneurs to access capital.
Mr. Oppong Nkrumah maintained that investing sterilized funds in the VCTF and even in the stock market would help expand businesses, create jobs, and support innovation.
He urged government to consider this alternative strategy rather than relying only on the traditional approach of mopping up money to fight inflation.
By: Jacob Aggrey
The Embassy of the Russian Federation in Ghana has addressed reports linking a supposed Russian citizen to an incident involving some Ghanaian women.
This comes after several media outlets reported that the man allegedly lured the women, secretly filmed them during sexual encounters, and shared the videos online, sparking public outrage across social media.
Many Ghanaians, women’s rights groups, and advocacy organizations have condemned the acts, calling for stronger protection of privacy and strict enforcement against non consensual sharing of intimate content.
In its post, the embassy said it was aware of the reports and is monitoring the situation closely, but it did not confirm the identity or nationality of the individual involved.
“The Embassy of the Russian Federation in the Republic of Ghana has taken note of the reports in the Ghanaian media on the alleged involvement of a supposedly Russian citizen engaged in sexual activities with some Ghanaian women and recorded and circulated those acts without consent,” they noted.
By: Jacob Aggrey
The New Patriotic Party (NPP) has announced its return to the platforms of Media General following what it describes as successful reconciliation talks between the two sides.
The party’s General Secretary, Justin Frimpong Koduah, made the announcement during an interview on one of the company’s programmes, TV3.
His appearance marks the end of a standoff that kept the NPP away from the media house for about a year.
Mr. Frimpong Koduah explained that after the elections, the party decided to stay away from the station until further notice.
He said during that period, there were several discussions between the party and the management of Media General to resolve their differences.
According to him, the party’s Director of Communications was instructed to issue an official statement confirming that the NPP had “smoked the peace pipe” with Media General and would return to its platforms.
“As General Secretary and chief spokesperson of the party, I needed to appear on the show for the rank and file of our party to know that indeed the NPP is back to Media General,” he said.
He added that party members should not be alarmed when they see NPP communicators appearing on the station’s programmes.
He stressed that the decision to return is official and based on a gentleman’s agreement reached by both parties.
Mr. Frimpong Koduah noted that both the political party and the media house need each other to function effectively in a democracy.
He expressed hope that going forward, there would be mutual respect and a level playing field in their relationship.
He urged the media house to engage the right party officials when seeking the NPP’s position on national issues.
According to him, some individuals in the past claimed to speak for the party but did not represent its official position.
In a related development, management of Media General issued a statement welcoming the NPP’s decision to return.
The statement said the company has consistently upheld high standards of journalism ethics, fearless reporting and impartial coverage.
The company assured the public of its continued commitment to truth and fairness.
By: Jacob Aggrey
