SONA 2024: Government settles financial obligations with bondholders
Business

SONA 2024: Government settles financial obligations with bondholders

President Nana Addo Dankwa Akufo-Addo has announced that the government has fulfilled its financial commitments by settling the final coupons owed to bondholders. This follows the implementation of a domestic debt exchange program aimed at individual and pension bondholders in order to meet revenue targets and reach an agreement with the International Monetary Fund (IMF). During his State of the Nation address on Tuesday, February 27, President Akufo-Addo revealed that a total of GH¢5.8 billion has been paid to bondholders. He highlighted the historic moment when the second coupon of GH¢5.8 billion was paid to domestic bondholders on February 20, 2024. This marked the largest coupon payment made in a single day in Ghana’s history. In addition, President Akufo-Addo expressed gratitude to the Republic of China and France for their roles in reaching an agreement with bilateral creditors. He emphasized the government’s commitment to engaging external creditors to ensure the successful implementation of the extended credit facility with the IMF. Despite initial resistance from bondholders towards the debt exchange program, which resulted in months of protest at the Finance Ministry, the government was able to push through the initiative. The Ghana Individual Bondholders Forum and the Individual Bondholders Association of Ghana raised concerns over the government’s failure to adhere to a Memorandum of Understanding outlining a payment plan. Moving forward, the government remains focused on engaging external bondholders with transparency, fairness, and good faith, in line with IMF debt sustainability principles. President Akufo-Addo assured that efforts to accelerate the process of engaging with external creditors are ongoing, emphasizing the commitment to fulfilling financial obligations and achieving economic stability. Apexnewsgh.com/Ghana/Ngamegbulam Chidozie Stephen Please contact Apexnewsgh.com on email apexnewsgh@gmail.com for your credible news publications. Contact: 0256336062.

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FULL TEXT: President Akufo-Addo’s 2024 SONA
Featured

FULL TEXT: President Akufo-Addo’s 2024 SONA

President Akufo-Addo has delivered his last State of the Nation Address to Parliament on February 27, 2024.     Kindly read the full speech below: It is always exhilarating to be back in Parliament, and to discharge the duty, in fulfillment of Article 67 of the Constitution of delivering to the House a Message on the State of the Nation on this occasion for the penultimate time. In accordance with protocol and convention, it is good to see that First Lady Rebecca Akufo-Addo, Vice President Mahamudu Bawumia, Second Lady Samira Bawumia, Spouse of Mr. Speaker, Alice Adjua Yornas, Chief Justice Gertrude Torkornoo, and Justices of the Supreme Court, Chairperson Nana Otuo Siriboe II, and Members of the Council of State, the new Chief of Defence Staff, Lieutenant General Thomas Oppong-Peprah, the Inspector General of Police, Dr. George Akuffo Dampare, and Service Chiefs, are all present, as are the Dean and Members of the Diplomatic Corps. Mr. Speaker, the House is duly honoured by the welcome attendance of the former President of the Republic, His Excellency John Dramani Mahama, and former First Lady, Her Excellency Nana Konadu Agyemang Rawlings. Mr Speaker, I am glad to be able to report that the entire territory that makes up our nation is safe, secure and under the control of the government and people of Ghana. This might sound like a pedestrian statement with which to start a Message on the State of the Nation. Unfortunately, far from it being an everyday truism, this is no longer a statement or claim that can be easily made in these times in the neighbourhood in which we are. West Africa is under threat of terrorism and violent extremism, rapidly spreading southwards from the Sahel to coastal West Africa. We can no longer take the territorial integrity of our countries for granted. Indeed, many of our neighbours have already fallen victim, and lost large portions of their territories to extremist groups, and Ghana, by the grace of the Almighty, is the only coastal state along the Gulf of Guinea that has so far not recorded a terrorist attack. Mr Speaker, the peace and security we have in our country has not happened by chance. It has taken deliberate policy and planning on the part of Government, and a lot of hard work and dedication on the part of our security services to keep our country safe and secure. I might add that it has also meant we have had to spend a lot of money that would otherwise have been available to spend on many of our development needs. But I believe we are all agreed that the primary responsibility of the state towards its citizens is to provide and guarantee peace and security, and we are doing just that. Since we came into office, we have ensured a significant expansion of the Armed Forces and all the other security agencies. We are paying diligent attention to their welfare as well. The accommodation and physical environment generally of the security agencies are being improved. We have quickened the pace of the retooling and equipping of the security agencies to ensure readiness towards the emerging security threats. For the majority of us and our everyday activities, it is the security of our streets and homes and communities that concern us most. We want our children and grandchildren to grow up in a safe atmosphere, and the Ghana Police Service play the lead role in this. Again, Government has performed most creditably. They are much better equipped than they have ever been, and their increased visibility on the streets goes a long way to reassure the community. The changing image of the Police is, perhaps, best exemplified by the dramatic facelift they have given to the frontage of the Police Headquarters on the Ring Road in Accra. It is beautiful, and I recommend it to all institutions and, indeed, households. Whilst we are spending money, time, energy and lives keeping the country safe from external dangers, I must add that it is a matter of great concern that we continue to have so many chieftaincy and land disputes around the country, which tend to be breeding grounds for internal tensions and destabilisation. Mr Speaker, I must make special mention of the troubles in Bawku. The tragedy is not only that a thriving and dynamic town is being reduced to a wasteland of destruction and distrust, we are spending money and energy that would have been better spent on development needs of Bawku, providing security to keep brothers and sisters from killing each other. Mr Speaker, what should concern all of us and not just the people of Bawku is that, in its current state, Bawku is an alluring magnet to mischief makers and extremists operating a few kilometres across from the border. In the bid to find a lasting solution to the conflict, Government has, in the past year, undertaken a number of measures, including the establishment of a special Bawku Taskforce, and the intensification of engagements with the factions for the resolution of the chieftaincy dispute. On the recommendation of the Upper East Regional and National Security Councils, four (4) radio stations, that have been broadcasting incendiary language and propagating hate speech, have been shut down by the National Communications Authority. The Chief Justice has also recently established specialised Courts in Accra and in Kumasi to deal expeditiously with criminal matters emanating from the Bawku conflict. Government is determined to do all it can to ensure there is security in every inch of the territory of our country, but it also is very much up to the citizens to help create the needed atmosphere, and I am, thus, appealing to all citizens to take the See Something, Say Something campaign of the Ministry of National Security very seriously. There is, indeed, Mr Speaker, a state of palpable anxiety and tension in every corner of West Africa, raising the spectre of regional instability, which we thought had been banished.

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SONA 2024: AG Saves Ghana GH¢10 Trillion in Judgment Debts–President Nana Akufo-Addo  Former President Akufo-Addo
Business

SONA 2024: AG Saves Ghana GH¢10 Trillion in Judgment Debts–President Nana Akufo-Addo 

In a recent State of the Nation Address, President Nana Akufo-Addo announced that the office of the Attorney General has saved Ghana an impressive GH¢10 trillion in judgment debts. He highlighted the effective manner in which the Attorney General has been contesting civil litigation against the state, avoiding the hefty judgment debts that used to plague the country. President Akufo-Addo also praised the progress being made in the administration of justice, noting the appointment of seventy-six Judges and Magistrates in the past year. This includes the appointment of a new Chief Justice, two new Supreme Court Justices, and several other judicial appointments to address human resource gaps. The President also emphasized the construction of courthouses and residential units for judges across the country, with a goal of constructing one hundred courthouses with residential facilities nationwide. As of January 2024, sixty-seven courthouses had been inaugurated, with twelve more slated for inauguration by the end of February. Additionally, one hundred and twenty-one residential units have been constructed for judges, including twenty 4-bedroom units for Justices of the Court of Appeal in Kumasi. Furthermore, President Akufo-Addo highlighted the digitalization efforts within the Judicial Service to modernize legal operations and improve access to justice. The introduction of a virtual court system during the COVID-19 pandemic has enabled court proceedings to continue smoothly, with plans to expand the paperless court system in Accra. The President also shared plans to commission the Law House, a twelve-storey office building that will house the offices of the Attorney-General. This building will help address the long-standing issue of office accommodation for the Attorney-General and his Ministry. Overall, President Nana Akufo-Addo’s efforts to strengthen the justice system in Ghana have been commendable, with substantial progress made in saving the country from significant judgment debts and modernizing the court system for greater efficiency. Apexnewsgh.com/Ghana/Ngamegbulam Chidozie Stephen Please contact Apexnewsgh.com on email apexnewsgh@gmail.com for your credible news publications. Contact: 0256336062.

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President Akufo-Addo Hails Success of Free SHS Policy
Education

President Akufo-Addo Hails Success of Free SHS Policy

President Akufo-Addo has proudly declared that the Free Senior High School (FSHS) policy implemented by his government has silenced its critics. In his address to Parliament during the 2024 State of the Nation Address, the President emphasized the positive impact of the policy on the education system. The President highlighted that many individuals have become the first in their families and communities to attend Senior High School, thanks to the Free SHS policy. He noted that the program has debunked myths and opened up opportunities for students who may not have had the chance to further their education due to financial constraints. President Akufo-Addo also expressed his belief that the Free SHS policy will contribute to the growth of the nation by producing more professionals in various fields. He emphasized the importance of solid foundational education from Kindergarten to Senior High School in shaping the future of the workforce. The President acknowledged the criticism faced by the Free SHS policy but asserted that its success speaks for itself. He called for continued efforts to improve the policy and ensure that it continues to benefit students across the country. Meanwhile, President Akufo-Addo affirmed his government’s commitment to education at all levels and expressed his pride in the positive outcomes of the Free SHS policy. He  further urged stakeholders to focus on enhancing the policy and its implementation for the betterment of the education sector in Ghana. Apexnewsgh.com/Ghana/Ngamegbulam Chidozie Stephen Please contact Apexnewsgh.com on email apexnewsgh@gmail.com for your credible news publications. Contact: 0256336062.

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SONA 2024: President Akufo-Addo Urges Political Parties to Uphold Credibility Ahead of December 2024 Elections President Akufo-Addo
Politics

SONA 2024: President Akufo-Addo Urges Political Parties to Uphold Credibility Ahead of December 2024 Elections

As Ghana gears up for the national elections scheduled for December 2024, President Nana Akufo-Addo has issued a strong message to political parties, emphasizing the importance of maintaining credibility and upholding democratic values. During his final State of the Nation Address to Parliament on Tuesday, 27 February 2024, President Akufo-Addo highlighted the crucial role of political parties in ensuring the integrity of the electoral process. He urged parties to recognize that their credibility is on the line, particularly in the face of attempts to undermine the multiparty democratic system of government. The President stressed the need for political parties to demonstrate that competitive elections are a noble and character-building experience. He emphasized the importance of accepting election outcomes gracefully, with losers congratulating winners, and emphasized that electoral defeat should not result in violence. President Akufo-Addo also challenged politicians and party members to uphold the principles of transparency, integrity, and accountability in politics. He called on them to elevate the political discourse and conduct themselves in a manner that reflects the seriousness and joyfulness of the democratic process. In closing, President Akufo-Addo reaffirmed that there is nothing inherently corrupt or immoral about politics, and that elections should not be marred by violence or vitriol. He further urged all stakeholders in the political arena to prioritize the well-being of Ghana and its people by embracing politics as a means of positive change and progress. Apexnewsgh.com/Ghana/Ngamegbulam Chidozie Stephen Please contact Apexnewsgh.com on email apexnewsgh@gmail.com for your credible news publications. Contact: 0256336062.

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SONA 2024: President Akufo-Addo laments resources spent on maintaining peace in Bawku SONA 2024
Politics

SONA 2024: President Akufo-Addo laments resources spent on maintaining peace in Bawku

President Nana Addo Dankwa Akufo-Addo has expressed concerns over the number of resources that have been used to keep peace in the Bawku municipality in the Upper East region of Ghana. Speaking during his recent State of the Nation Address in Parliament, President Akufo-Addo highlighted that the funds utilized to maintain peace in the area could have been used for development instead. The President emphasized that chieftaincy and land disputes in various parts of the country have become breeding grounds for internal tensions and destabilization. Specifically addressing the situation in Bawku, he stated, “The tragedy is not only that the thriving and dynamic town is being reduced to a wasteland of destruction and distrust; we’re spending money and energy that would have been better spent on the development needs of Bawku providing security to keep brothers and sisters from killing each other.” President Akufo-Addo called on all Ghanaians to be concerned about the Bawku conflict, describing it as a matter of national importance. He warned that the current state of Bawku could attract mischief makers and extremists, posing a threat to the area. In efforts to maintain peace in Bawku, the government has implemented various measures such as shutting down four radio stations in the area and establishing specialized courts to expedite trials on disputes arising from the conflict. The President also urged citizens to heed the “See something say something” campaign promoted by the National Security to prevent any potential conflicts from escalating. Apexnewsgh.com/Ghana/Ngamegbulam Chidozie Stephen Please contact Apexnewsgh.com on email apexnewsgh@gmail.com for your credible news publications. Contact: 0256336062.

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SONA 2024: President Akufo-Addo takes blame for bad state of economy President Akufo-Addo
Opinion

SONA 2024: President Akufo-Addo takes blame for bad state of economy

During his State of the Nation Address to parliament, President Nana Addo Dankwa Akufo-Addo took full responsibility for the poor state of the economy, stating that as the Executive authority, the blame ultimately falls on him. This announcement comes after Vice-President Mahamudu Bawumia, who is also the New Patriotic Party (NPP) flagbearer, made a remark likening himself to a driver’s mate, which was criticized by the opposition for trying to distance himself from the failures of the current government. In contrast, Dr. Bawumia outlined his vision and priorities for Ghana should he become President, emphasizing the need to build on past successes and create a more inclusive and prosperous future for all citizens. He expressed his desire to create a country where all individuals, regardless of background, can contribute to a self-sufficient, safe, and prosperous nation. Additionally, he highlighted the importance of creating sustainable jobs with fair wages and positioning Ghana to participate fully in the fourth industrial revolution. As the political landscape in Ghana continues to evolve, both President Akufo-Addo and Vice-President Bawumia are facing scrutiny and pressure to address the economic challenges facing the country and outline a clear path forward for its citizens. Apexnewsgh.com/Ghana/Ngamegbulam Chidozie Stephen Please contact Apexnewsgh.com on email apexnewsgh@gmail.com for your credible news publications. Contact: 0256336062.

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Akufo-Addo to deliver last SONA Tuesday Ghana's President Nana Addo Dankwa Akufo-Addo
Politics

Akufo-Addo to deliver last SONA Tuesday

President Nana Akufo-Addo is scheduled to deliver the State of the Nation Address (SONA) to Parliament tomorrow, Tuesday, February 27, as prescribed by Article 67 of the 1992 Constitution. This constitutional provision requires the President to address the nation through Parliament at the beginning of each session. During his address, the President is expected to provide updates on various sectors including security, governance, education, health, infrastructure, and the fight against corruption. The address will also highlight the government’s key policy objectives for the year and outline strategies to improve the current economic situation. Earlier in February, the then Majority Leader, Osei Kyei-Mensah-Bonsu, announced the President’s impending address in Parliament. “Mr. Speaker in accordance with Article 67 of the Constitution, H.E the President will deliver to the house a message on the State of the Nation on Tuesday, February 27, 2024. Honourable Members are entreated to avail themselves for the task ahead,” he said. Meanwhile, this forthcoming address marks President Akufo-Addo’s penultimate presentation to Parliament before the end of his term. Please contact Apexnewsgh.com on email apexnewsgh@gmail.com for your credible news publications. Contact: +233256336062.

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