Features
Why gold for fuel

Gold for oil policy is to tackle dwindling foreign currency reserves
The economic challenges facing the country today calls for the taking of pragmatic steps to help reduce the burden on Ghanaians and make things a bit easy for the people in this country.
In doing so, it will help deal with the purchase of an essential commodity like crude oil to enable economic life to continue smoothly for the country irrespective of the serious challenges facing the entire world including our dear country.
The decision to use oil to purchase fuel for the country is a major step that shows that the leadership of this country is thinking outside the box to make life bearable even in a situation where things are extremely difficult.
The normal practice is that crude oil is imported into the country with the use of the US dollar and this is a practice that is accepted by many countries in the world.
This practice has established the US currency as an essential global commodity used to transact business among countries in the world.
For this reason, countries that are import oriented tend to put more demand for the US dollar, thereby causing a reduction in the value of the local currency which in the case of Ghana is the Cedi.
The Cedi will continue to depreciate in relation to other foreign currencies as long as undue pressure is put on the Dollar for the import of products into the country. If a reverse for this situation can be found, that is more products can be exported rather than imported, it will help the Cedi to appreciate its value against the dollar and other foreign currencies.
In the light of this, it becomes easy to understand why the leaders of this country are taking such a practical positive step to reverse the situation in this country and use one of our precious minerals, that is gold, as an exchange commodity to import crude oil.
This is why Ghana’s government, as has been pointed out already, is working on a new policy to buy oil products with gold rather than U.S. dollar reserves. This point was made by Vice-President Mahamudu Bawumia recently.
The move, he pointed out, is meant to tackle dwindling foreign currency reserves coupled with demand for dollars by oil importers, which is weakening the local cedi and increasing living costs.
Ghana’s Gross International Reserves stood at around $6.6 billion at the end of September 2022, equating to less than three months of imports cover. That is down from around $9.7 billion at the end of last year, according to the government.
If implemented as planned for the first quarter of 2023, the new policy will fundamentally change our balance of payments and significantly reduce the persistent depreciation of our currency.
If Ghana for instance uses about $400 million to import crude oil every month, we can easily imagine the tremendous pressure this puts on the dollar. Thus, together with other demands for imports, the pressure on the dollar keeps escalating and this explains why the Cedi continues to depreciate, making imported products very expensive in this country.
To correct this economic imbalance, there is the need to reduce imports of foreign goods. Government has already made it clear in the 2023 budget statement that imports are to be cut down by 40 per cent.
Using gold would prevent the exchange rate from directly impacting fuel or utility prices as domestic sellers would no longer need foreign exchange to import oil products.
The barter of gold for oil represents a major structural change. Government is therefore right in taking this action so that the economic situation in the country can be made better for all Ghanaians.
The proposed policy is uncommon. While countries sometimes trade oil for other goods or commodities, such deals typically involve an oil-producing nation receiving non-oil goods rather than the opposite.
Ghana produces crude oil but it has relied on imports for refined oil products since its only refinery shut down after an explosion in 2017. With time, the oil refinery in Tema, TOR, can be refurnished to make it workable so that arrangements can be made to refine our own oil in this country.
This means that we will have to negotiate a deal with investors in our oil exploration in the country so that the crude oil will not have to be sent out to be refined before being brought back into the country for consumption.
The policy relating to the use of gold for fuel is an innovative way of dealing with the enormous depreciation of the Cedi and thereby help in correcting the economic imbalance in the country. As much as possible, Ghanaians must support such a policy so that the entire country will benefit from this good deal.
Email address/whatsApp number of author:
Pradmat201@gmail.com (0553318911)
By Dr. Kofi Amponsah-Bediako
Features
Musicians, the Whiteman’s toilet and MEGASTAR

I have often been saddened by the condition of Sikaman musicians. Of course, some are not musicians. They are jokers who think anybody who can sing a hymn is a musician. And why wouldn’t they think so when people think that every man wearing a rasta hair is a reggae musician?
Well, these days, almost everybody is dreaming of becoming a musician, even some ministers and parliamentarians. And it is never too late for them to begin learning the solfas and composing songs like “If You Do Good You Do For Yourself,” after all, life begins at 60 these days. If you die three years later, that’s your luck.
For the jobless, becoming a musical star is an everyday dream. They think when you are a music maker, you automatically break alliance with poverty. They are often mistaken.
I know people who claim they are musicians but are always fasting not because they are devout moslems or are on a hunger strike, but because even one square meal a day is a perpetual wahala. And the only drink they can afford is the poor man’s holy whisky which has a thousand names including ‘Nyame Bekyere’.
Even most of the popular musicians we see in town claiming they are foreign-based stars are more of hustlers than musicians. When they tell you they are going on tour abroad, it is a careful way of saying they are going overseas to scrub the whiteman’s toilet or pick tomato or apples to save their neck from musical poverty.
When they are back to Sikaman, they appear quite flamboyant with chains hanging all over them. They change the few dollars they have scraped, spread it around and promptly get broke. Then they can organise another ‘tour’. In between tours, they struggle to release an album and that levels them up a bit on the financial balance.
It all points to the fact that the life of the average musician isn’t quite organised. He has no calendar, no programme and no concentration on the job. He has to wash plates, become a waiter, janitor and toilet scrubber while finding time to make music. No musician succeeds in life that way.
One musician I’ll always respect, who thinks deeper than the ordinary Sikaman musicians is Carlos Sakyi. He is not like the Kokoase guitar musicians who see the world just in terms of bitters, a willing girlfriend, constant supply of kokonte and jot.
Carlos, often loved for his percussive overtones in gospel music, and once a gospel-rock star, has studied the life of Sikaman musicians and has evolved a blue-print for a great improvement in their lives work, finances and comfort.
In short, he has simulated a Motown-style environment for musicians and his formula is working with accuracy with the five musicians he has started with. The blue-print is what has brought MEGASTAR into being. It was launched on September 15, 1995 at the National Theatre.
When it got launched, many probably thought Carlos was “too know or was dreaming more than he should and won’t think about himself. Anyhow, the MEGASTAR is now an institution musicians can look up to, a big phenomenon with lots of promise for struggling musicians.
Music business in the developed world is not the way we regard it cheaply here. A musician is never distracted by how his finances go; his contracts are entered, his engagements made, his interviews arranged, his personal security guaranteed.
Music is his business and that is where his mind is and his attention focuses. Other aspects of his life are programmed for him by his managers. They hire who has to light his cigarettes, massage him, drive his car and the one who will say “Good Luck” when he sneezes.
A bodyguard whose face is exactly like that of the devil is hired to scare off muggers, psychopaths and criminals in general. Sometimes his girls are organised for him.
So the only thing the musician does apart from sleeping and snoring is to concentrate on making music, and true to it, no one can succeed in any venture when he is distracted.
This is how the Michael Jacksons, Lionel Richies, Dolly Patons and Whitney Houstons have made it with dollars packed and over-flowing. They aren’t any better than Sikaman musicians. The only difference is that they know how to organise their lives.
I managed to corner Carlos Sakyi and asked him to tell me how MEGASTAR was doing. He is the Managing Director of Megastar Limited, a music company that has a board of directors and a chairman. Carlos Sakyi shares the proprietorship with a partner. Carlos himself was one great musician who played for a band that beat Eddy Grant on the charts.
“Megastar is in fact a concept born out of the idea that the future security of the Ghanaian musician which has always been in jeopardy can now be guaranteed. Artistes spend too much of their time doing things on their own, chasing money and not concentrating on music. So their full potential is never realised. Some are in fact producing at quarter-rate. That is why they aren’t making much headway,” he told me.
“Megastar is now giving them the chance of the lives. We handle the interviews of Megastar artiste, their press releases, costume, engagements and everything they hitherto used to do themselves. We get them exposed on M-Net and we have contacted BB to get on their programmes. We handle their finances pay them salaries and bonuses, so they only have to concentrate on music
“Most importantly,” he continued, “we do not make all the decisions. Management always meet with the musicians to take the decisions that affect them.”
But who are the Megastar musicians? One is the great Amakye Dede, a star from birth delivered onto the earth with music on his lips; he is the man who feeds hungry ears with musical salad and harmonic sausages. He is the recipient of many national awards.
Next is Naana Frimpong, a latter-day Carlos-groomed songbird with the voice of an angel. She sings to kill. Her beauty has charmed her audience and they stare and stare at her.
The sensational and fantalising Tagoe Sisters are the next. The twin music machine is one that has produced the cream, arguably the very best, of gospel music all these years. I hear they are inseparable; not even their better-halves can keep them apart. Are they Siamese? They dance, and when on stage, they move the crowd.
Then comes Reverend Yawson who is a known songwriter. He is imbued with the Holy Spirit, speaks in tongues and of course sings in tongues. He is God’s representative on the group.
What about my good friend and super-heavyweight, Jewel Ackah? He is a star figure. His appearance is awe-inspiring, his voice golden. A great delight to be-hold when at his best in stage-craftsmanship, he has beaten his contemporaries to it both on land and on sea.
They are the pioneers of the Motown idea. They are all releasing new albums this year. Let’s see how it all goes.
Features
The rise of female rage: Unpacking the complexity of women’s anger
In recent years, the term “female rage” has gained significant traction, symbolising a collective shift in how women’s emotions are perceived and addressed.
This phenomenon is not merely a fleeting trend but a profound movement rooted in centuries of systemic injustices, personal betrayals, and societal expectations.
As women increasingly reclaim their anger, it is imperative to understand the multifaceted nature of female rage, its causes, and its implications for individuals and society at large.
The historical context of female anger
Historically, women’s emotions have been subject to dismissal, ridicule, and pathologisation. The term “hysteria,” originating from the Greek word for uterus, was used to describe women’s emotional states as irrational and uncontrollable.
This legacy of silencing and shaming has contributed to a culture where women’s anger is often suppressed or stigmatised.
However, with the rise of feminist movements, women are challenging these narratives, asserting their right to express anger and demand change.
The anatomy of female rage
Female rage is not a monolith; it is a complex and multifaceted emotion driven by various factors, including:
1. Societal expectations: The pressure to conform to traditional roles of passivity, politeness, and emotional labour.
2. Gender inequality and pay gaps: Frustration stemming from systemic discrimination in the workplace and beyond.
3. Sexual harassment and abuse: Trauma and anger resulting from pervasive violence and objectification.
4. Emotional labour and burnout: The unsustainable burden of managing emotions and responsibilities in personal and professional spheres.
5. Hormonal fluctuations: The impact of hormonal changes on emotional states, often overlooked or dismissed.
The power of anger: Reclaiming female rage
Far from being a destructive force, female rage can be a catalyst for change. When acknowledged and channelled constructively, anger can drive advocacy, policy reform, and resistance against inequality.
The #MeToo movement, women’s marches, and increased representation in politics are testaments to the power of collective female anger.
Addressing the Stigma: Towards a more inclusive dialogue
To fully harness the potential of female rage, society must address the stigma surrounding women’s anger. This involves:
1. Validation and recognition: Acknowledging women’s emotions as legitimate and worthy of attention.
2. Creating safe spaces: Providing platforms for women to express anger without fear of backlash.
3. Education and awareness: Challenging stereotypes and promoting understanding of women’s experiences.
4. Support systems: Offering resources and support for women dealing with trauma and systemic injustices.
Conclusion
The age of female rage is a moment of profound transformation, where women’s anger is no longer silenced but celebrated as a force for justice.
By understanding the roots of female rage and addressing the societal structures that fuel it, we can move towards a more equitable and compassionate world.
The journey is complex, but the destination-a society where women’s emotions are respected and their voices are heard is worth the struggle.
References:
[1] Chemudupati, P. (2022). _The Rage of Women: A Historical Perspective_.
[2] Traister, R. (2018). _Good and Mad:
By Robert Ekow Grimond-Thompson




