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Cedi falls by 1.18% to dollar, trades at GH¢5.93 at forex bureau

The Ghana cedi has returned to the depreciation trajectory despite a strong performance in the first three-and-a-half months of this year.

As of 6 May 2020, the cedi had declined in value by 1.18% to trade at GH¢5.600 to the US dollar on the interbank forex market and 2.36% to sell at GH¢5.93 on the interbank forex market.

Currency analysts believe the active support of the Bank of Ghana on a daily basis has helped slow down the deprecation of the cedi despite the gradual rebound of the global economy after some countries eased their lockdown restrictions.

US$25 million was sold on the forex forward market on Tuesday 5 May 2020.

Some sizable volumes were also sold on the spot market Wednesday, 6 May 2020.

But the BoG’s daily interventions overall, appear to be keeping the USD/GHS range-bound at the moment.

Analysts further believe the risk is tilted to the upside for the USD/GHS rate, particularly as coupon payment and dividend repatriation mounts, amidst weak export receipts.

The Treasury’s external debt service during the year is also another pressure point to watch.

Courage Martey of Databank Research, however, told Class Business: “We also think the BoG would aim to prolong the USD/GHS stay below the GHS6 psychological barrier for a while longer, especially as political risks are expected to add to the shocks in the latter part of 2020.”

As of 18 March 2020, when the coronavirus pandemic had begun causing some stir globally, the local currency had appreciated by 3.47% to the US dollar, 13.38% to the British pound and 5.81% to the euro.

It traded at GHS5.34 to one American dollar, GHS6.45 to one British pound and GH¢5.87 to the euro.

At the forex bureau, the cedi was going for GH¢5.69 to one US dollar, GH¢6.90 to one British pound and GH¢6.17 to the euro.

The cedi, however, ended the month of February 2020 with an appreciation of about 5.75% to the US dollar on the interbank market.

Source: Class FM

The MultiChoice Talent Factory Launches FREE Online Masterclasses!

The MultiChoice Talent Factory (MTF) is excited to launch a series of online masterclasses available on Africa’s creative network, the MTF portal! The masterclasses offer exclusive access to practical, industry expert-led skills workshops that afford film and television professionals the ability to interact and learn from the best in Africa.

We are launching with the Produce Like a PRO! masterclass series, a 20-module masterclass on production from pre to post. If you have missed any of our MTF masterclasses in our 13 markets, we have recorded them for you to watch on the go.

Comprising 20 carefully crafted modules, the Produce Like a PRO! series is our answer to the industry need for easier access to training material, tutorials and templates. The masterclasses are available to over 25 000 registered users with a profile on the MTF portal. If you do not currently have a profile on the portal, register today to gain access to free online masterclasses!

The masterclass offering, according to the CEO of General Entertainment Yolisa Phahle, is part of MultiChoice Group’s mission to upskill emerging creatives and seasoned professionals in the Film and TV industry.

“What makes the Produce Like a PRO! series unique is that it’s been specially designed as an A to Z package for tools and templates to equip new producers with the know-how to operate in this industry. From budgeting to casting, the modules have been created by Marie Rosholt, a highly esteemed pioneer in reality television as Executive Producer of 12 series of Big Brother, Survivor, Fear Factor, Deal or no Deal and other series. The recorded masterclasses have been filmed and packaged by our MTF students sharing the industry masterclasses hosted by our MTF Academies in Lagos, Nairobi and Lusaka with leading industry experts including Tunde Kelani, Christian Epps and Steve Gukas,” says Yolisa

The Produce Like a PRO! series is also rooted in breaking down the barriers of access to industry information, and instead ensuring that veteran knowledge and experience is passed on to the next generation of African storytellers. The series also compliments recorded masterclasses which address industry concerns such as accessibility, opportunity, and quality in local productions.

Launched in March 2019 as the third touchpoint of MultiChoice Africa’s ground-breaking corporate shared value (CSV) initiative, the MTF portal is a pan-African, film and television digital marketplace for information sharing on all aspects of Africa’s creative industry. The MTF portal offers open, cost-free access to film creatives across Africa to showcase their talent, access opportunities, stay up to date with industry news and expand their industry network. To date, the portal has over 25,000 registered profiles.

The MTF portal is also supported by our various partners including DOLBY, the NYFA, AVID through JASCO Broadcast Solutions, Nihilent, among other international and local industry partners. Our partnership with DOLBY brings you conversations with Oscars® nominated artists and winners. The DOLBY Institute Podcast Series – Conversations with Sound Artists is available under the ‘What’s New’ tab on the portal. Look out for more conversations (this time in video format) with sound designers and discover how the year’s best films used the magic of DOLBY technology.

The Ladies Circle Airs On TV3 From February 15th

Over the years, there has been a lot of talk on women empowerment and feminism. Giving women the voice they deserve and in essence a right of theirs back to them.

When you see a program like “The Ladies Circle” even by mere mention of the name gives a strong sense to these empowerment issues. A place, women can have the voice to speak on issues not only concerning their fellow women but a platform that gives the voice to contribute to issues of importance – politics, governance,  health, rights, entertainment, social issues among others.

TV3 has for more than 20 years been a station trusted by its viewers. An all-female program on a station like this will not only give credence to issues going to be discussed on the program but will stir up a lot of talk and discussions on the issues. 

These issues will give the people and viewers of the program the information they need to ask the right questions, to seek their welfare when needed and consequently lead to the development of the people. Knowledge is said is power, the more they know, the less vulnerable they are to abuse of power to those who know.

All work and no play indeed makes jack…., for such, the segment such as video of the week will put some entertainment spice into the program which will attract the viewers to stay on and enjoy the program. The program will also see some celebrities passing through.  At the end of the 58 minutes there is something to interest everyone watching.

There are questions asked not only by the host but also the viewers and questions answered. When all is said, the purpose of a program like this is achieved as knowledge is impacted, entertainment is given, information is put out there and women are empowered, in fact the society is empowered. The beauty of this is that women are at the center of this circle.



“The Ladies Circle” will be hosted by four intelligent and dexterous ladies: 

   
Chrystal Kwame – Aryee: The bubbly, beautiful communications specialist, marketing consultant and professional master of ceremonies, is known as one of the best event hosts, hosting ceremonies, cooperate events etc. Chrystal is currently a TV and radio host at Media General.

Anita Akuffo: The pretty affable host is known for her fashion statements and hosting of fashion and entertainment shows. A trained journalist, she is also known as a fashion police. She is an award winning host and has also been seen hosting many read carpet events.

Dr. Vanessa Aseye Atikpui: The stunning, pleasant and smart doctor is a qualified and practicing medical doctor with over 4 years experience in the profession. The award winning doctor has interest in photography, make up and fashion designing.

Nana Abena Korkor Addo: Another bubbly, charming host, is the project coordinator for mental health society of Ghana. She is the founder of Psychosocial African MH Support Group and CEO of Lencyonfire cocktails and ushering agency. Very affable and assertive, she has championed many mental health activities, creating awareness for the condition.    

The ladies circle is the start of something new.

Round Up of Ghanaian players in the CAF Champions League and Confederation Cup this weekend

The CAF Champions League and Confederation Cup entered the round four with TP Mazembe, Mamelodi Sundowns and Pyramids FC only sides to book their spot in the quarter-finals.

Here is a wrap of how Ghanaian players fared in the two continental competitions.

CAF CHAMPIONS LEAGUE

ISAAC AMOAH was an unused substitute for TP Mazembe when they came from a goal down to beat Angolan champions Primeiro de Agosto 2-1 in Lubumbashi on Saturday.

The DR Congo have booked their place in the quarter-finals of the competition after the win.

Former Hearts of Oak star ISAAC MENSAH played 68 minutes as Petro Atletico drew 2-2 with Moroccan giants Wydad AC at the Estadio 11 de Novembro in Angola on Saturday.

AS Vita Club suffered another home defeat at the Stade des Martyrs in when they were beaten 2-0 by defending champions Espérance de Tunis.

ZAKARIA MUMUNI started and played 66 minutes for the DR Congo giants on Saturday.

CAF CONFEDERATION CUP

Striker JOHN ANTWI came on as a substitute in the 65th minute for Pyramids FC to help the Egyptian moneybags to be the first side to secure a place in the quarter-finals with a 2-0 win over Al Masry SC in Cairo on Sunday.

Defender KEVIN OWUSU AMOH played full throttle for Zambian side Zanaco FC in their 3-0 thrashing of ESAE FC of Benin in Lusaka on Sunday.

EMMANUEL OKUTU lasted all the minutes of the game on the bench for the Zambian side.

DANIEL DARKWAH put in a 74 minutes shift for Enyimba International FC as they mauled Algerian side Paradou AC 4-1 in Aba on Sunday.

NANA BONSU kept the posts for Enugu Rangers FC when they were held by Mauritanian giants FC Nouadhibou to a 1-1 stalemate in Enugu on Sunday.

GODFRED ASANTE and ENOCK ATTA AGYEI enjoyed 90 minutes for Horoya AC as they travelled to Mali to hold Djoliba AC to a scoreless draw.

HUDU YAKUBU was an unused substitute for the Guinean giants on Sunday.

MOHAMMED SAABA GARIBA played all minutes for FC San Pedro but that wasn’t enough for Ivorian side to avoid a 3-0 defeat in the hands of Hassania Agadir in Morocco on Sunday night.

Source: GHANAsoccernet.com

Chaplain caught raping blind student in classroom

Tension is mounting between students and authorities at the Akropong School for the blind after a chaplain at the school was caught molesting a blind female student in a classroom.

The students are angry at what they say is an attempt by the authorities to cover up the incident which occurred on Tuesday.

Leader of the concerned students, Richmond, told Morning Starr host Francis Abban that they have the whole incident captured on video.

He further noted the female student told them she was forced into the act by the chaplain.

“When we caught the teacher sexually abusing the lady, we recorded the lady and she narrated what happened. We also got hold of the teacher’s boxer shorts which was in the classroom where the act was ongoing. We tried reporting the case to the police in Akropong but were stopped by the school authorities. We have been restricted from going out of the school.

“We are keeping the boxer shorts to use as evidence. It is interesting to note that, the teacher claims we forcefully took his boxer shorts off him and that is so not true. Other female students have complained about being sexually assaulted by some teachers but we have no evidence to that”.

The students who claim the chaplain is in the habit of abusing females students have vowed to take action if the authorities do not allow the matter to be reported to the police.

“As we speak, I am wanted by the school authorities. I am hiding somewhere on the school campus now because the teachers I am told are discussing me and they claim I have led to make this issue public”.

Parents of the victim are expected at the school today for a meeting with authorities.

Source: starrfm.com.gh

Minority to haul Finance Minister, BoG Governor over new currency notes

The Minority Caucus in Parliament on Wednesday served notice to haul Finance Minster Ken Ofori-Atta, and the Governor of the Bank of Ghana to clarify issues surrounding the issue of higher denomination Ghana Cedi notes.

The two are also to clarify government position on Ghana’s commitment to adopt the new regional currency Eco.

“We intend… to invite the Minister of Finance to Parliament to clarify governments position on Ghana’s earlier commitment to adopt the new regional Eco currency in January 2020”, Minority Leader and MP for Tamale South Haruna Iddrisu said.

Mr Iddrisu led members from on the Minority Side to express their views on the Bank of Ghana’s (BoG) issuance of the new currencies, at press conference at Parliament House in Accra.

He stated earlier: “We shall in the coming days be initiating steps to summon the Governor of the BoG to appear before the House and present a detailed report on the exercise.”

Mr Iddrisu said public resources were expended on the exercise hence the Government owed it a duty to be transparent about the exercise.

He said the Minority’s would question the Governor on the total cost incurred on the exercise, cost of each note compared to each face value, the utilization of seigniorage revenue to be raised and the quantity of each ordered.

The BoG, on Friday November 29, 2019 issued two higher denomination of the Ghana cedi notes GH¢100.00 and GH¢200.00 and GH¢2.00 coin which would replace GH¢2.00 notes soon.

The Central Bank also in last May introduced upgraded Ghana Cedis notes.

“Ghanaians are still waiting for governor of the Central bank to render account of the cost of printing the upgraded currency,” Mr Iddrisu said, and insinuated that the ruling Government of the New Patriotic Party (NPP) would use the revenue to be raised as seigniorage from the issue of the new currencies to finance the 2020 election campaign of the NPP.

The Minority described as unsatisfactory explanation from the Governor of the BoG to use the new higher denominations to complement the existing series to ensure customer convenience and bring about efficiency in the printing of currency to generate savings for the country.

“This amounts to an affront to the paperless economy,” the Minority insisted.

The Minority questioned the basis for the explanation from the Central Bank Governor that the new currencies would restore the dollar value of the higher denomination to about $40 and significantly reduce the dead weight burden in a cash based economy like Ghana.

It wondered if Ghana has a dollar pegged as its currency regime.

The NDC caucus said it does not believe that simply increasing the currency bound would suddenly increase Ghana’s economic fortunes compared to the US, explaining that productivity growth and investment in addition to other factors are rather the determinants of long term growth.

“Moreover Ghana does not have a parity regime with the US dollar and therefore “there is no reason why we should seek to have the cedi indexed to the US dollar,” the Minority said.

It added: “It is surprising the Governor is actually making such an argument.”

The NDC caucus accused the government of having put in place “a managed flouting regime whereby the BoG intervenes in the foreign exchange market to smooth out excessive volatility.”

Source: ghananewsagency.org

Akufo-Addo to shred cabinet in ‘brutal’ reshuffle

As he approaches the final year of his four-year mandate, President Akufo-Addo is expected to make some major changes to his cabinet, Flagstaff House insiders have predicted.

The president, GhanaWeb has learned, would fast-track the long anticipated ministerial shake up in the wake of the botched referendum amid widespread speculation that some key personalities could be booted out.

“The scale of change in the ministerial reshuffle will be intense because the president is not happy with the general performance of some of his appointees,” our source who pleaded for strict anonymity disclosed.

Government officials, who are familiar with the imminent reshuffle, say President Akufo-Addo intends to stamp his authority with a historic clear out.

It is roundly believed that the president will come out “all guns blazing” on New Year’s Eve as he enters the final crucial year of his mandate.

“He is facing the Ghanaian people in the next twelve months and we must have solid record to show after years in office. It is not going to be business as usual. He will bring in new people who can offer fresh ideas,” the source added.

Senior Minister, Yaw Osafo Maafo, who is seen as a close ally of the president, is among the heavyweight likely to be affected.

Speculations are that the president is highly upset about his utterances and some unilateral decisions he has taken, which has ended up tarnishing the image of the government.

He has been surcharged for $1m over an agreement with a foreign company without following due process.

Using a single-source procurement process, Kroll Associates UK Ltd was contracted in 2017 by the Senior Minister to “review electronic evidence, identify assets abroad and manage a joint Civil and Criminal Assets recovery process.”

By September 2018, $1 million, the equivalent to ¢4.86 million was paid to the company as full payment for its services.

But the Auditor-General, Daniel Domelevo has challenged the arrangement, adding that by Ghana’s 1992 Constitution, the contract required parliamentary approval because it involved a foreign company.

According to sources, amongst those likely to fall during the shake-up will be Chief of Staff, Akosua Frema Osei Opare, National Security Minister, Albert Kan Dapaah, Interior Minister, Ambrose Dery, Defense Minister, Dominic Nitiwul, Trade and Industries Minister, Alan Kyerematen, Minister of Youth and Sports, Isaac Asiamah, Information Minister, Kojo Oppong Nkrumah, Business Development Minister, Ibrahim Mohammed Awal and Procurement Minister, Adjoa Sarfo.

Dominic Nitiwul and Ambrose Dery, are expected to swap positions, GhanaWeb understands.

Most of the deputy ministers are expected to lose their present portfolios whiles others would be sacked completely.

Some Chief Executive Officers at some state agencies are expected to be elevated to ministerial positions.

Source: www.ghanaweb.com

Shatta Wale Clears The Air On False Reportage About “Mr Kofi Amoa-Abban Range Rover Gift”

Few days after celebrating his birthday, African Dancehall King, Charles Nii Armah Mensah Jr. better known as Shatta Wale has found himself in a tango with some bloggers for spreading what he described as “false rumours or Story” about his friend, Kofi Amoa-Abban.

Reports published by several social media bloggers claim that Ghanaian Oil and Gas entrepreneur and philanthropist, Kofi Amoa-Abban, is the brain behind Shatta Wale’s latest car addition; the 2019 model of Range Rover.

The report suggested that the car was gifted to Shatta Wale on his birthday by Mr. Abban who personally delivered the car to the dancehall artiste.

Meanwhile, after receiving the Range Rover on Thursday, Shatta Wale shared a photo of the car on his Instagram page with a caption; “2019 Range Rover birthday gift from my Godfada ..Help say thank you to him for me ..This one is too much for me .. Now dierrrr more Pah Pah Pah,” without stating who that Godfada is.

However, bloggers who picked on the Instagram post concluded that the said car was from Mr. Abban.

The Dancehall artiste who became uncomfortable with the false publication again took to his Instagram page and urged the bloggers to research well enough before putting things out in the public domain.

He wrote: “All the bloggers spreading false rumours. about my friend should stop right now. II didn’t tell you he bought me a car. Let’s try to make this life we living be a better one for us all.”

Shatta Wale who believes he wasn’t too hash on bloggers with his post asked them to “Please research before you put certain things out as professionals.”

It would however be recall that Kofi Amoa-Abban, was the same brain behind Shatta Wale and Stonebwoy’s peace after their brawl at the 2019 edition of the Vodafone Ghana Music Awards (VGMA).

Kwesi Appiah in Netherlands to watch Ghanaian players, set to leave for Spain

Black Stars of Ghana head coach Kwesi Appiah started a tour of Europe on Monday October 8, 2019 to scout for Ghanaian players in the various leagues ahead of 2021 Africa Cup of Nations qualifiers.

The 58-year-old is expected to visit Spain, England, France, Italy, Germany, and Belgium.

According to reports, coach Appiah is presently in Amsterdam where he went to monitor Ghanaian players Myron Boadu and Cody Gakpo who both featured for the Dutch U-21 in their 4-2 win over Portugal last Friday.

In Spain, Kwesi Appiah will watch Joseph Aidoo, Thomas Partey, Mubarak Wakaso, and other Ghanaian players in La Liga.

On Friday, he is expected go to the UK and monitor Ghanaian players in the Premier league including Jordan Ayew, Christian Atsu, Jeffrey Schlupp, Daniel Amartey and the Championship which includes captain Dede Ayew, Albert Adomah before continuing to Denmark on Sunday evening before returning to Ghana.

Source: footballghana.com

Ministry Of Tourism Congratulates Sarkodie, Shatta Wale

The Ministry of Tourism, Arts and Culture, has expressed delight in awards won over the weekend by several Ghanaians musicians.

In a statement issued by the Public Relations Department of the Ministry and sighted by Cypress Ghana, congratulatory message was sent to Sarkodie and Shatta Wale for exceeding in 2019 BET Hip Hop and Ghana Music Awards UK held in Atlanta and London respectively.

Find Attached The Full Statement Below:

CONGRATULATORY MESSAGE TO AWARD-WINNING ARTISTES – BEST HIP HOP AWARDS, ATLANTA AND GHANA MUSIC AWARDS, UK, LONDON

The Ministry of Tourism, Arts and Culture, would like to congratulate all Ghanaian artistes who participated and won awards in the 2019 BET Hip Hop and Ghana Music Awards UK held in Atlanta and London respectively on Saturday, 5th October, 2019.

Particular reference is being made to Sarkodie and Shatta Wale, for excelling in these events. You have indeed made your beloved country, Ghana, proud at the just ended awards programmes.

The Ministry would like to congratulate Sarkodie, for being adjudged the best and first artiste to receive an award in the newly created category in the 2019 BET Hip Hop Awards at the Atlanta Cobb Energy Centre, Atlanta, USA.

Indeed Sarkodie has been recognized on various occasions namely in 2012, 2014 and 2015 where he was nominated for Best International Act and won it together with the Nigerian musician, Whizkid. He also has over 81 awards and 148 nominations to his credit, and won the Best Music Video of the Year – “I can’t Let it Go” at the just ended event in London. The 2019 Atlanta award, received barely three days ago, has come to add on to his impressive laurels, for which we are proud of him.

We also wish to acknowledge, the dancehall artiste, Shatta Wale, for emerging as the Artiste of the Year at the 2019 Ghana Music Awards UK (GMAs UK), bringing home three awards namely the artiste of the Year, Reggae Dancehall Artiste of the Year and the Popular song of the Year – “I know My Level” which made him the biggest at the event held in London.

The dancehall king also has three other awards to his credit namely the Nigerian Entertainment Award for African Artistes – 2014, the Nigerian Entertainment Award for African Male Artistes of the Year – 2016 (Non Nigerian Category) and the City People Entertainment Award for Ghana Musician of the Year (Male Category) -2016.

Our congratulations also goes to the following artistes for their contributions to the music industry, and in particular the various awards they received at the Ghana Music Awards UK event, held at the Discovery Centre in London. They are:

•African Artiste of The Year – Burna Boy

•Best Collaboration of The Year – CCTV – King Promise Ft. Mugeez & Sarkodie

•Best Female Vocalist of The Year – Eshun

•Best Ghanaian International Touring Act – Wiyaala

•Best Group of The Year – R2bees

•Best Male Vocalist of The Year – Akwaboah

•Ghanaian Traditional/Cultural Act – Amamre Cultural Troupe

•Gospel Artiste of The Year – Koda

•Gospel Song of The Year – Bobolebobo – Evangelist I.K. Aning

•Highlife Artiste of The Year – Kuami Eugene

•Highlife Song of The Year – Wish Me Well – Kuami Eugene

•Hiplife Artiste of The Year – Medikal

•Hiplife Song of The Year – Omo Ada – Medikal

•Producer of The Year – Possi Gee

The Government and people of Ghana, share in the joy and the glory that you bring first and foremost to yourselves and to Ghana.

We see this as great feat, and an opportunity for our country to open up to the outside world and to attract many more tourists into the country using music.

We say kudos to all of you and may the good Lord see you through all your future engagements.

Ayekoo! We are indeed proud of you all.