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    Accra, GHANA: A woman holds 03 July 2007 in Accra a wad new currency, the new cedi, that Ghana put in circulation that day, although the old money will still be valid until the end of the year. Currently, the cedi is one of the least valued currencies in Africa: 9000 cedis equal one US dollar.   Ernest Addison, head of research at the Bank of Ghana, assured in November 2006 that the changeover was not a revaluation nor devaluation, and will not affect foreign exchange.  AFP PHOTO / ISSOUF SANOGO (Photo credit should read ISSOUF SANOGO/AFP/Getty Images)

    Local currency crosses ¢10 to one dollar mark on retail market

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    Emergency MPC meeting: Goldman Sachs projects 200 basis points hike in policy rate

    MTN Ghana introduces voucher distribution denomination change to prevent price disparity

    BoG, UG partner to improve research in Ghana’s financial sector

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    VEPEAG, GAVEX partner to boost vegetable production, exports in Ghana

    VADUG members resist implementation of Customs Amendment Act

    Cost of credit to further go up as Bank of Ghana raises policy rate to 22%

    Emergency MPC meeting: Goldman Sachs projects 200 basis points hike in policy rate

    MTN Ghana introduces voucher distribution denomination change to prevent price disparity

    BoG, UG partner to improve research in Ghana’s financial sector

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    Cedi Depreciation: Government urged to enforce laws on pricing in dollars

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    E-cedi will not affect MoMo business – Bank of Ghana

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    Accra, GHANA: A woman holds 03 July 2007 in Accra a wad new currency, the new cedi, that Ghana put in circulation that day, although the old money will still be valid until the end of the year. Currently, the cedi is one of the least valued currencies in Africa: 9000 cedis equal one US dollar.   Ernest Addison, head of research at the Bank of Ghana, assured in November 2006 that the changeover was not a revaluation nor devaluation, and will not affect foreign exchange.  AFP PHOTO / ISSOUF SANOGO (Photo credit should read ISSOUF SANOGO/AFP/Getty Images)

    Local currency crosses ¢10 to one dollar mark on retail market

    VEPEAG, GAVEX partner to boost vegetable production, exports in Ghana

    VADUG members resist implementation of Customs Amendment Act

    AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

    Cost of credit to further go up as Bank of Ghana raises policy rate to 22%

    PURC justifies upward review of utility tariffs

    Emergency MPC meeting: Goldman Sachs projects 200 basis points hike in policy rate

    MTN Ghana introduces voucher distribution denomination change to prevent price disparity

    BoG, UG partner to improve research in Ghana’s financial sector

  • Business
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    • Banking And Finance
    • Manufacturing
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    • Mining
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    VEPEAG, GAVEX partner to boost vegetable production, exports in Ghana

    VADUG members resist implementation of Customs Amendment Act

    Cost of credit to further go up as Bank of Ghana raises policy rate to 22%

    Emergency MPC meeting: Goldman Sachs projects 200 basis points hike in policy rate

    MTN Ghana introduces voucher distribution denomination change to prevent price disparity

    BoG, UG partner to improve research in Ghana’s financial sector

    BoG, EOCO deepen collaboration to build robust financial sector

    Cedi Depreciation: Government urged to enforce laws on pricing in dollars

    Assistant Director, Fintech and Innovation, BoG, Clarence Blay

    E-cedi will not affect MoMo business – Bank of Ghana

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    MTN Ghana introduces voucher distribution denomination change to prevent price disparity

    We’re ready to re-engage gov’t on acquisition of Vodafone shares – Telecel

    New deadline for SIM re-registration too short – MoMo agents association

    Extend SIM card re-registration exercise to January 2023 – MoMo agents

    Vodafone agrees sell stake in Ghana’s business to Telecel

    Telecoms Chamber and IIPGH advocate sustained coding education

    IIPGH to enter coding education partnership with Telecoms Chamber

    PayAngel joins Microsoft for Startups Founders Hub

    Node 8, HTU hold first edition of Node X in Ho

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    AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

    Inflation, debt, and forex crisis is pushing many African economies to the brink – IMF warns

    African countries that could follow Sri Lanka into economic chaos

    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

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Ofori-Atta’s approval by Parliament disappointing – ASEPA

byMichael Ogbodu
March 30, 2021
in Government, News, Top Stories
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The Alliance for Social Equity and Public Accountability (ASEPA) has described the approval of the Finance Minister as unfortunate.

The group had earlier in a 37-page petition to the Appointments Committee of Parliament, indicated that based on Mr Ofori-Atta’s role in the collapse of some financial institutions, among others, it believed he was no longer fit to hold the position.

Parliament on Monday approved the nomination of Ofori-Atta as Ghana’s Minister of Finance.

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Mr Ofori-Atta was approved by consensus following recommendations by the Appointments Committee.

In an interview with Citi Business News, Executive Director of ASEPA, Ken Thompson, indicated that the move by Parliament was not in the best interest of the country.

“We just leant that the guy (Ken Ofori-Atta) has been approved especially when a number of issues raised against him featured in the committee; the responses he gave were totally dissatisfactory. To think that he can give shallow and unsatisfactory answers to the questions and still get away with it is extremely troubling and disappointing to the electorate and the citizens especially to those who have had any hope in the idea of the power of Parliament and the potential it brings to our democracy and that they could serve as proper checks and balance mechanisms to the Executive.”

He added that “I think people are gradually losing hope in it. It was extremely shocking to learn during the nominees vetting that the nominee had usurped the powers of the President and has unilaterally appointed an MD to the Trade Fair management. Again, without parliamentary approval and usurping the powers, he was already restructuring Eurobond on behalf of the country as a nominee without approval. If people can do these things and usurp the powers of Parliament, appears before Parliament and still get away with it without any member of the committee voting against this nominee then you have a huge problem.  This whole idea of hung of Parliament potential is dead on arrival.”

Ofori-Atta was vetted last Thursday and Friday.

He is the last substantive minister of President Akufo-Addo to be approved by Parliament.

His vetting was postponed a few times following his bout with post-COVID-19 health complications.

He however returned to Ghana on Monday, March 22, 2021.

 

 

 

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