Alan Kyerematen Proposes Lower Tax Regime to Boost Economy
Flagbearer for the Movement for Change, Alan Kyerematen, has outlined his vision for a better tax solution for Ghana. Apexnewsgh reports He emphasized the need for effective expenditure management, revenue optimization, and a lower tax regime to stimulate economic growth. Mr. Kyerematen’s plan involves: 1. Expenditure management and control 2. Revenue optimization 3. Lowering taxes to increase competitiveness and reduce inflation 4. Scrapping some taxes and levies 5. Implementing a progressive tax system He argued that a lower tax regime would increase revenue, as companies would become more competitive and generate more tax income. Kyerematen also stressed the importance of addressing corruption to increase revenue and reduce the need for tax increases. Regarding the IMF’s conditionalities, Kyerematen believes that Ghana has the liberty to decide how to raise revenue, and that his proposed solutions would meet the IMF’s requirements without increasing taxes. On the government’s plan to control cement prices, Mr. Kyerematen expressed reservations, citing the potential impact on the market structure and the need to address fundamental issues rather than resorting to price control. Meanwhile, Alan Kyerematen has proposed a comprehensive tax solution aimed at boosting Ghana’s economy by reducing taxes, optimizing revenue, and addressing corruption. Source: Apexnewsgh.com
African Development Bank Named Development Finance Institution of the Year
The African Development Bank received the Development Finance Institution (DFI) of the year award at the TXF GLOBAL 2024 Export, Project & Development Finance Conference for its innovative approach. Apexnewsgh reports The award was in recognition of the bank’s first hybrid capital issuance in January, which established a promising benchmark and potentially created a new asset class for Multilateral Development Banks (MDBs). The issuance aligns with the G20 Capital Adequacy Framework Review’s recommendations. The TXF Global 2024 conference brought together over 1,500 representatives from various institutions and was held in Athens from June 11 to 12. African Development Bank Vice-President for Finance and Chief Financial Officer Hassatou N’Sele emphasized the bank’s commitment to exploring financial innovations and boosting its capacity to deliver on its development mandate. This recognition highlights the African Development Bank’s crucial role in promoting economic development in Africa, providing financing and expertise for sustainable economic growth, poverty reduction, and improving living conditions for Africans. The award follows the International Monetary Fund (IMF) Executive Board’s approval of using hybrid capital for Special Drawing Rights (SDRs), an initiative led by the African Development Bank and the InterAmerican Development Bank to enhance Multilateral Development Banks’ capacity to address global challenges while preserving countries’ reserves and taxpayer funds. Source: Apexnewsgh.com Thanks for reading from Apexnewsgh as a news publishing website from Ghana. We encourage you to freely share this story via social media platform and follow us on; Facebook on APEXNEWSGH-Tv or Please contact Apexnewsgh.com on email apexnewsgh@gmail.com for your credible news publications. Contact: 0248250270/0256336062.
Finance Minister to Appear Before Parliament Over National Cathedral Expenditure
The Minister for Finance is set to appear before Parliament on Wednesday, July 3, 2024, to address urgent questions regarding the expenditure on the National Cathedral project. Apexnewsgh reports Deputy Majority Leader Patricia Appiagyei has requested the Minister’s presence to ensure transparency in the use of public funds for the project. According to Majority Leader Alexander Afenyo-Markin, the Minister will be required to provide detailed information on the project’s finances and confirm whether a value-for-money audit has been conducted. This move aims to guarantee accountability and transparency in the use of public funds. The Minority is also demanding broader accountability from the government, with MP for North Tongu Constituency Samuel Okudzeto Ablakwa calling on the Speaker to enforce the House’s decision to form a bipartisan committee to investigate the issues surrounding the project. The Finance Minister’s appearance in Parliament is expected to shed light on the financial aspects of the National Cathedral project and ensure that public funds are being utilized efficiently. Source: Apexnewsgh.com Thanks for reading from Apexnewsgh as a news publishing website from Ghana. We encourage you to freely share this story via social media platform and follow us on; Facebook on APEXNEWSGH-Tv or Please contact Apexnewsgh.com on email apexnewsgh@gmail.com for your credible news publications. Contact: 0248250270/0256336062.
“Why is it that everyone wants to go to Parliament? Asantehene to Speaker
Asantehene Expresses Concern Over Desire for Parliamentary Seats The Asantehene, Otumfuo Osei Tutu II, has expressed concern over the intense desire of many individuals to become Members of Parliament, questioning the reasons behind this eagerness. Apexnewsgh reports During a visit from Speaker of Parliament Alban S.K. Bagbin at the Manhyia Palace in Kumasi on Sunday, June 30, 2024, the Asantehene noted the extreme measures some people are willing to take, including insults and physical attacks, to join Parliament. He emphasized that MPs do not have budgets to fulfill the unrealistic promises made by some parliamentary candidates, highlighting the need for attention to this issue. “Why is it that everyone wants to go to Parliament? What is there that people will beat others and insult people just to go to Parliament, this is something that you have to pay attention to,” Otumfuo Osei Tutu II said. The Asantehene’s concerns come as Speaker Bagbin is on a three-day official visit to the Ashanti Region as part of a nationwide tour marking the 30th-anniversary celebration of the Fourth Republic. The visit aims to engage with various stakeholders and reflect on the country’s democratic journey. Source: Apexnewsgh.com Thanks for reading from Apexnewsgh as a news publishing website from Ghana. We encourage you to freely share this story via social media platform and follow us on; Facebook on APEXNEWSGH-Tv or Please contact Apexnewsgh.com on email apexnewsgh@gmail.com for your credible news publications. Contact: 0248250270/0256336062.
NPP Clears Way for NAPO to be Endorsed as Running Mate
The National Council of the New Patriotic Party (NPP) is set to endorse Dr. Matthew Opoku Prempeh (NAPO) as the running mate of Dr. Mahamudu Bawumia for the December 7 elections. Apexnewsgh reports This follows the completion of necessary consultations by the flagbearer, which received the approval of President Nana Addo Dankwa Akufo-Addo and the NPP Majority in Parliament. Ahead of the presentation to the National Council, Dr. Bawumia met with Dr. Opoku Prempeh and Ashanti Regional Chairman Bernard Antwi-Boasiako (Chairman Wontumi) to resolve any differences and strategize for the way forward. The Majority caucus has expressed full support for Dr. Bawumia’s choice of NAPO as his running mate. Majority Leader Alexander Afenyo-Markin confirmed that the leadership of the Majority met with Dr. Bawumia to discuss his choice, and the party’s national council will soon meet to finalize the decision. Afenyo-Markin stated that the feedback from caucus members has been positive, and a national council meeting will confirm the decision. He also revealed that President Akufo-Addo has expressed positive views on the choice of NAPO as running mate, paving the way for his endorsement. Source: Apexnewsgh.com Thanks for reading from Apexnewsgh as a news publishing website from Ghana. We encourage you to freely share this story via social media platform and follow us on; Facebook on APEXNEWSGH-Tv or Please contact Apexnewsgh.com on email apexnewsgh@gmail.com for your credible news publications. Contact: 0248250270/0256336062.
Alan Kyerematen Calls for Assessment of Free SHS Policy Implementation
Alan Kyerematen, the flagbearer for the Movement for Change, has expressed his views on the Free Senior High School (FSHS) policy, highlighting the need for a comprehensive assessment of its implementation. Apexnewsgh reports While acknowledging the policy’s progressive nature and potential to provide equal access to education for all, Mr. Kyerematen emphasized the importance of evaluating its management and operations. Mr.Kyerematen further identified key areas that require assessment, including: 1. Financial sustainability 2. Infrastructure requirements 3. Curriculum development 4. Teacher capacity and training 5. Transition from SHS to tertiary education and the workforce He stressed that a comprehensive review is necessary to ensure the policy’s success and longevity. Kyerematen’s call for assessment aims to identify areas for improvement and optimize the policy’s impact on Ghana’s education system. Mr. Alan Kyerematen has urged for a thorough evaluation of the Free SHS policy’s implementation to guarantee its sustainability and effectiveness in providing quality education for all Ghanaians. Source: Apexnewsgh.com Thanks for reading from Apexnewsgh as a news publishing website from Ghana. We encourage you to freely share this story via social media platform and follow us on; Facebook on APEXNEWSGH-Tv or Please contact Apexnewsgh.com on email apexnewsgh@gmail.com for your credible news publications. Contact: 0248250270/0256336062.
Arrogance of power limits leadership capacity– Alan Kyerematen
Alan Kyerematen Speaks Out Against Arrogance of Power Alan Kyerematen, the flagbearer of the Movement for Change, has emphasized the importance of humility in leadership. He stressed that positions of authority should not be used capriciously, but rather as an opportunity to serve the people. Kyerematen defined arrogance of power as the tendency for leaders to lord over the people instead of serving them. He attributed this phenomenon to a sense of entitlement that comes with being in power, particularly in a duopoly system where leaders feel secure in their positions. The former minister emphasized that leadership should be exercised with humility and a commitment to the people. He encouraged voters to interrogate the character and disposition of candidates before electing them into power. Kyerematen warned that arrogance of power limits a leader’s capacity to effectively serve the people. He advocated for a new breed of leaders who will prioritize humility and accountability. Mr. Alan Kyerematen further sounded a warning about the dangers of arrogance of power and urged for a shift in leadership culture that prioritizes humility, accountability, and service to the people.\ Source: Apexnewsgh.com Thanks for reading from Apexnewsgh as a news publishing website from Ghana. We encourage you to freely share this story via social media platform and follow us on; Facebook on APEXNEWSGH-Tv or Please contact Apexnewsgh.com on email apexnewsgh@gmail.com for your credible news publications. Contact: 0248250270/0256336062.
Prof. Lord Mensah Cautions Against Government’s Plan to Regulate Cement Prices
Prof. Lord Mensah, a renowned economist, has expressed his reservations about the government’s decision to regulate the price of cement. Apexnewsgh reports While acknowledging that the move may be well-intentioned, he believes it may have unintended consequences that could harm the economy. According to Prof. Mensah, fixing cement prices could lead to difficulties for cement producers, potentially forcing them out of business. He emphasized the need to understand the inputs that constitute cement production, such as raw materials, labor, and foreign exchange, which are critical to determining the final cost of cement. The professor argued that instead of fixing prices, the government should focus on addressing the underlying economic fundamentals, such as stabilizing the foreign exchange rate and managing inflation. He suggested that if the government wants to regulate prices, it should only do so when the cement producer increases prices unfairly, and not solely based on exchange rate fluctuations. Meanwhile, Prof. Lord Mensah cautioned that the government’s plan to regulate cement prices may not be the most effective solution and could lead to unintended consequences. He advocated for a more nuanced approach that considers the underlying economic factors driving cement prices. Source: Apexnewsgh.com Thanks for reading from Apexnewsgh as a news publishing website from Ghana. We encourage you to freely share this story via social media platform and follow us on; Facebook on APEXNEWSGH-Tv or Please contact Apexnewsgh.com on email apexnewsgh@gmail.com for your credible news publications. Contact: 0248250270/0256336062.
Government Using PR to Manage Economy, Not Solving Problems – Lawyer Edudzi Tamaklo
Lawyer Edudzi Tamakloe has criticized the government for using public relations to manage the economy, rather than implementing practical solutions to address the country’s economic challenges. Apexnewsgh reports He expressed his concerns about the government’s reliance on borrowing, including the recent IMF bailout of $360 million, which he believes is insufficient to address the country’s economic needs. Lawyer Tamakloe pointed out that the government still needs to borrow an additional $50 billion to balance the budget, despite claiming to have made savings through debt treatment with bilateral creditors. He questioned the prudence of the government’s economic management, particularly in light of the recent increase in cement prices and the struggling state of local industries, such as the Tema Oil Refinery. The lawyer argued that the government’s focus on public relations and propaganda, rather than substantive economic solutions, is a sign of failed leadership. He criticized the finance minister’s promise to reduce the dollar’s value, which has not materialized, and expressed skepticism about the government’s ability to manage the economy effectively. However, Lawyer Edudzi Tamaklo believes that the government’s reliance on PR and borrowing is not a sustainable solution to Ghana’s economic problems and that the country needs thoughtful leadership to address its economic challenges. Source: Apexnewsgh.com Thanks for reading from Apexnewsgh as a news publishing website from Ghana. We encourage you to freely share this story via social media platform and follow us on; Facebook on APEXNEWSGH-Tv or Please contact Apexnewsgh.com on email apexnewsgh@gmail.com for your credible news publications. Contact: 0248250270/0256336062.
IMF Bailout Not a Solution to Ghana’s Economic Woes – Professor Lord Mensah
Renowned economist, Professor Lord Mensah of the University of Cape Coast Business School (UCBS), has expressed his concerns about Ghana’s economic situation, stating that the International Monetary Fund (IMF) bailout will not magically fix the country’s economic problems. Apexnewsgh reports According to Professor Mensah, Ghana’s balance of payment issues and huge deficits have led to a loss of trust in economic management, causing businesses and individuals to speculate and lose faith in the system. He believes that the country’s reliance on external assistance, such as the IMF programme, is a lazy approach to economic management. Professor Mensah argues that the country needs to focus on internal measures to improve production capacity and stabilize the economy in the short to medium term. He cites the example of COCOBOD borrowing $2 billion annually, totaling $6 billion over three years, which could have been used to revamp the agricultural sector and boost exports. The economist emphasizes that the economy is vulnerable to external shocks, particularly from the global oil market, and that the government’s reliance on passing costs to citizens is unsustainable. He urges the government to implement practical measures to address the economic challenges facing the country. However, Professor Mensah believes that the IMF bailout is only a temporary solution and that Ghana needs to take charge of its economic management to achieve long-term stability and growth. Source: Apexnewsgh.com Thanks for reading from Apexnewsgh as a news publishing website from Ghana. We encourage you to freely share this story via social media platform and follow us on; Facebook on APEXNEWSGH-Tv or Please contact Apexnewsgh.com on email apexnewsgh@gmail.com for your credible news publications. Contact: 0248250270/0256336062.