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Lack of funds stalled amphitheaters’ construction – Okraku-Mantey

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Mark Okraku-Mantey

“The construction center predominantly has a lot to do with budget, because this is funded by the World Bank, and so we’re supposed to get additional funding to finish it has delayed,” the Deputy Tourism Minister, Mark Okraku Mantey admitted that the construction of five amphitheaters promised by the New Patriotic Party (NPP) government has stalled due to a lack of funds.

Mr Okraku-Mantey explained that the construction of these amphitheaters was predominantly funded by the World Bank.

The Deputy Minister said this during the Manifesto Debate on Creative Arts on Joy FM.

However, he revealed that the initial budget had been depleted, leading to delays in the project’s completion.

The Deputy Minister further elaborated that the government had sought additional funding from Parliament to ensure the timely completion of the amphitheaters.

According to him, an initial $500,000 per facility which was secured for the project did not suffice due to market factors.

“The budget increased because of market prices and so it affected how the plan that we had to finish the amphitheater. We’ve made a request for additional funding, it’s in the process, the moment we get it, in the next two weeks I am sure some money should come in, we will go back to site.”

He mentioned that the Minister of Tourism and Culture had gone to Parliament to defend the request for more funds, stating that the project should be completed by the end of the first quarter of 2025.

“We know we want to finish before December, but for the sake of Parliament, he mentioned quarter one next year,” he added.

I can perform for political parties but not compose song for them – Akwaboah

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NANA KWESI COOMSON
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Akwaboah

Highlife musician, Akwaboah has stated that although he is willing to perform for political parties, he will not compose music for any of them.

Akwaboah Jnr said he would prefer to write music that helps the entire country rather than support a certain political party.

“If you call me to perform, I would, but if it is to compose a song, no, I can’t. I would rather compose for Ghana as a whole,” he said in an interview on OKAY FM.

He explained that composing a song for a political party could have adverse effects if the party does not win elections.

Rather, he believes that it would be more beneficial to compose a song geared towards the development of the whole nation.

“If I do a song for Ghana and the country progresses, it would benefit all of us, but if I compose a song for a single political party and it doesn’t work out, it would affect me negatively,” he explained.

As the election season gains momentum, Akwaboah becomes the latest amongst the list of Ghanaian artistes, including Keche, Kweku Darlington, and Olivetheboy, who have indicated an interest in performing for political parties.

Hong Kong to jail activist for wearing T-shirt with a protest slogan

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Chu Kai-pong wearing the T shirt that got him into trouble

A Hong Kong man faces a potential sentence of up to 10 years in jail after he pleaded guilty to sedition for wearing a T-shirt featuring a protest slogan.

In court on Monday, Chu Kai-pong, 27, was the first person to be convicted under Hong Kong’s tough new national security law enacted in March.

Chu pleaded guilty to one count of “doing acts with seditious intent”. His sentencing is set for Thursday.

He was arrested on June 12 at a train station wearing a T-shirt with the slogan “Liberate Hong Kong, revolution of our times”, and a yellow mask printed with “FDNOL” – the shorthand of another pro-democracy slogan, “five demands, not one less”. June 12 is a date associated with protests in the city in 2019.

The new security law expanded the maximum sentence for sedition from two years in prison to seven years. The sentence could rise to 10 years if the defendant is found to be in “collusion with foreign forces”.

Chu’s lawyer argued that the maximum he could be given would be two years. Following the guilty plea, Chief Magistrate Victor So announced that two other offences – failing to produce an ID card and loitering – had been dropped.

Credit: aljazeera.com

 

Shanghai hit by strongest typhoon in 75 years

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Shanghai's strongest storm has grounded flights and felled trees

Hundreds of thousands of people were evacuated as a powerful typhoon made landfall near China’s financial hub, Shanghai.

Typhoon Bebinca hit at about 07:30 local time (23:30 GMT) on Monday in the coastal area of Lingang New City in Shanghai’s east, the China Meteorological Administration said.

It is the strongest storm to hit Shanghai in 75 years, according to Chinese state media.

As a precaution, more than 400,000 people in the Shanghai Metropolitan area were relocated by Sunday evening, according to local officials.

A further 9,000 people were evacuated from the Chongming District, an island at the mouth of the Yangtze River that is also part of Shanghai.

Hundreds of flights were cancelled as the city’s two main airports grounded all flights. Train services were also cancelled and highways closed. A 40km/h (25mph) speed limit was imposed on roads inside the city.

Shanghai’s 25 million residents had been advised to stay home as the storm batters the city.

Authorities have issued a red alert for Bebinca, the highest level, as wind speeds of up to 151km/h (94 mph) were recorded at the typhoon’s eye. It is expected to weaken as it moves inland.

Videos posted online showed large trees toppled and people dragging their bicycles and motorcycles through flooded streets. A clip shared by Shanghai Daily showed a bus braking abruptly along Huaihai Road in a major shopping district as billboards blown by fierce winds collapsed onto the ground.

The storm was one of the most-discussed topics on Chinese social media platform Weibo on Monday, with some users sharing their fears that it would worsen.

Credit: bbc.com

Germany angers European neighbors as it tightens migration along all land borders

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German police check cars arriving at the German-Polish border

Germany has begun new controls at all of its land borders as part of a crackdown on migration, placing restrictions on a wide area of free movement known as the Schengen Zone and stirring anger among its European neighbors.

From Monday, as well as existing border controls with Austria, Switzerland, the Czech Republic and Poland, Germany will now also have internal border controls with France, Luxembourg, the Netherlands, Belgium and Denmark.

Berlin will have the power to reject people at all land borders, a statement from the Interior Ministry said. The new rules will last for six months initially.

The move marks how far Germany has shifted in recent years on the flashpoint issue of migration.

The German government under Angela Merkel welcomed more than one million new arrivals during the migrant crisis of 2015-2016 but is now following other European countries in toughening up rules as it faces a surging far-right opposition.

It comes after Germany on Friday struck a controlled migration deal with Kenya, which will see Berlin open its doors to skilled and semi-skilled Kenyan workers. Announcing the changes, Interior Minister Nancy Faeser said that Germany was “strengthening internal security through concrete action” and continuing its “tough stance against irregular migration.”

The move has put the unity of the European bloc to the test and attracted criticism from Germany’s neighbors.

Poland’s Prime Minister Donald Tusk said that the introduction of tighter controls at land borders was unacceptable for Poland.

Credit: cnn.com

FBI investigating apparent assassination attempt on Trump in Florida

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Former US President Donald Trump

The FBI said it is investigating what appears to be an attempted assassination of Donald Trump at his Florida golf club Sunday, the second time in two months there’s been an apparent attempt on his life. Trump was not harmed in the incident, his campaign said.

President Joe Biden wants Congress to give the US Secret Service “more help” in the wake of the second apparent attempted assassination of former President Donald Trump, he told reporters Monday.  “Thank God the president is okay,” Biden said.

Detained suspect: 

Suspect Ryan Wesley Routh is appeared at a federal court in Florida yesterday morning after being taken into custody after being stopped on the highway. Federal prosecutors have not yet announced what charges Routh will face.

The man detained in Sunday’s apparent assassination attempt on former President Donald Trump was so calm when he was stopped it was “perplexing,” the sheriff of Martin County, Florida, recalled.

“His facial affect was so flat. His demeanor was relaxed,” Sheriff William Snyder told CNN on Monday morning. “I honestly thought it looked like somebody that had just left the church picnic and was on his way home.”

Despite the commotion surrounding his apprehension – the area “crawling with law enforcement … SWAT team (that) had gotten out their rifles, helicopter, I-95 shut down, a bomb dog” – the man never even asked why he got pulled over, Snyder said.

“He was just calm, really, as if he was going for dinner,” the sheriff said.

More on the suspect: 

Routh, who owns a small Hawaii construction company, had criticized Trump on social media and was a staunch supporter of Ukraine. A Secret Service agent spotted a rifle sticking out of a fence along the golf club perimeter Sunday and engaged the suspect, the Palm Beach County sheriff said Sunday.

Credit: cnn.com

What Is Sleep Hygiene?

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Ever wonder why some people seem to always get a good night’s rest while you toss and turn for hours, or wake up again and again?

Your sleep hygiene may be the problem. Good sleep hygiene is a combination of sleeping conditions and lifestyle habits that help you get consistent, uninterrupted sleep.

Benefits of Good Sleep Hygiene

Good sleep hygiene can help you in a lot of ways. When you get enough sleep — experts recommend 7 to 8 hours a night — you may:

  • Get sick less often
  • Keep a healthy weight
  • Head off health problems like diabetes and heart disease
  • Feel happier and less stressed
  • Be able to think more clearly during the day

Think about making changes to your sleep routine if you have trouble falling asleep, if you can’t stay asleep, or if you often feel sleepy during the day. These may be signs of bad sleep hygiene.

How to Have Good Sleep Hygiene

You can take simple steps to break bad habits and get better sleep.

  • Be consistent. It can be easy to stay up late watching your favorite team play a game or to sleep in on Saturdays and Sundays. There are some exceptions, but you’ll get better sleep by going to bed at the same time each night and getting up at the same time in the morning. This gets your body into a routine that will help you feel sleepy at the same time each night and wake up refreshed in the morning.
  • Keep your bedroom quiet and dark, and at a good temperature for sleeping. It depends on the person, but many doctors recommend 60 to 67 degrees F.
  • Make your bedroom relaxing, which for you may mean clean and clutter-free.
  • Try a wind-down routine before bed, like meditation, yoga, or stretching.
  • Limit naps during the day.
  • Make your bed a sleep-only zone. Don’t read or watch TV there.
  • Don’t bring electronic devices into the bedroom. If your iPad, laptop, phone, and TV aren’t in the room, you’ll be less tempted to check emails or texts right before you go to bed, or stay up late bingeing a show. They also give off blue light that might affect your body’s melatonin production.
  • Don’t eat large, heavy meals before bed. Limit caffeine and alcohol.
  • Exercise during the day. Moving — whether it’s a walk at lunch or a cycling class before your family wakes up — can help you fall asleep more easily.

When to See Your Doctor

If you’ve made changes and they don’t seem to be helping, talk to your doctor. You may have a sleep disorder, like sleep apnea, that needs medical treatment.

Your doctor might also recommend:

  • Medication like melatonin, which is made by the body and helps promote sleep
  • Light therapy
  • Cognitive behavioral therapy, in which a therapist can help you identify and change negative thoughts and behaviors around sleep.

Credit: webmd.com

Feature: Adapting to Ghana’s Economic Rhythms: How Banks Are Managing Seasonal Financial Fluctuations

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Feature

1.0 Introduction

Seasonality has a significant impact on the operations, demand, and revenue cycles of many industries. For Ghanaian banks, seasonality can manifest as fluctuating customer activity, varying cash flows, and shifting financial needs.

From agricultural harvests to holiday spending sprees, Ghana’s distinct cultural and economic rhythms can have an impact on banking operations. Coping with these seasonal shifts necessitates creativity, adaptability, and a thorough understanding of the country’s economic pulse.

Banks have devised innovative solutions to weather year-round fluctuations in demand, ranging from cocoa harvest cycles to peak holiday spending. The following describes how Ghanaian banks are stepping up to the plate.

2.0 Understanding Seasonality in Ghana’s Economy

Ghana’s economy is diverse, but agriculture remains a key pillar, accounting for roughly 20% of the country’s GDP and employing more than half of its population. This sector is heavily influenced by the seasons, owing to agricultural cycles that rely on rainfall.

Cocoa farming, one of the nation’s largest export earners, reaches its peak sales between October and December. Similarly, maize, cassava, and other staple crops experience seasonal shifts, resulting in significant income variability for farmers and agribusinesses.

It is worth noting that, in addition to agriculture, Ghana experiences other seasonal factors. Retail banking experiences peaks during the Christmas season as Ghanaians increase their consumer spending and remittances from the diaspora. Businesses and consumers alike frequently tighten their belts in the early months of the year, following the extravagant spending of the holiday season.

3.0 Impact of Seasonality on Banking Operations

For banks like Ecobank, CalBank, Stanbic, and Absa Bank, seasonal patterns present both opportunities and challenges. During peak seasons, the demand for loans and credit facilities frequently increases. Farmers, for example, may need capital to buy fertilizer or hire labor during the planting season.

Similarly, as the harvest season approaches, businesses that purchase and export agricultural products require financial assistance to process and transport goods to international markets. However, during off-peak seasons, there is frequently a lull in banking activity.

Fewer deposits, reduced borrowing, and slower business activity can all have an impact on cash flow and liquidity in the banking sector. Such fluctuations necessitate careful management to ensure that banks remain solvent and profitable all year.

4.0 Strategies for Coping with Seasonality

To navigate these fluctuations, banks in Ghana have adopted several strategies aimed at smoothing out the peaks and troughs caused by seasonality. These strategies not only help banks remain stable, but they also enhance their ability to serve customers effectively during both busy and slow periods. Among these strategies are:

4.1 Tailored Agricultural Loan Products

Recognizing the cyclical nature of agriculture, some Ghanaian banks (Agricultural Development Bank (ADB), Ecobank, Stanbic) have introduced specialized agricultural loan products. For instance, during planting seasons, banks provide short-term credit facilities with deferred repayment terms.

Farmers can access these loans to buy seeds and equipment, with flexible repayment structures that allow them to settle their debts after harvest when their cash flow improves. Examples include the “Agric Loan” from Stanbic Bank and the “Agric Input Support Scheme” by Ecobank, which are both designed to address the specific needs of farmers.

4 2Digital Banking and Mobile Solutions

In the past decade, digital banking has revolutionized financial services in Ghana. To cope with seasonal changes, banks are increasingly relying on mobile banking solutions to reach customers in rural and semi-urban areas, particularly during peak farming seasons when people are busy in the fields. For instance, banks such as Fidelity Bank and Access Bank have embraced mobile money platforms like MTN Mobile Money and AirtelTigo Money, which allow customers to perform banking transactions remotely.

Farmers can receive payments for their produce, make purchases, and even apply for loans without needing to visit a physical branch.This digital shift also helps banks maintain steady customer engagement during off-peak periods, encouraging users to save regularly, apply for personal loans, or invest in various financial products at their convenience.

4.3 Flexible Loan Repayment Plans

One of the most significant innovations in Ghana’s banking sector has been the implementation of flexible loan repayment plans based on customers’ seasonal income patterns. For example, farmers and small businesses may be able to make larger repayments only after harvest or during the holiday season.

Understanding this, banks such as the Agricultural Development Bank (ADB) have developed products with repayment schedules that are tied to seasonal cash inflows, ensuring that customers can meet their obligations without defaulting during low-income periods.

4.4 Holiday and Festive Loans

Banks see an increase in demand for consumer loans around Christmas and Easter as Ghanaians prepare for travel, gifts, and celebrations. In response, many banks provide short-term festive loans, allowing customers to borrow at low interest rates with the understanding that they will repay after the holiday season.

Standard Chartered Bank’s “Christmas Loan” and GCB’s “Festive Loan” are examples of tailored products that not only meet the demands of seasonal spending but also keep banks’ cash flow stable during periods of high expenditure.

4.5 Seasonal Marketing and Promotions

Another effective strategy is to run seasonal marketing campaigns. Banks use the holiday season to promote savings accounts, insurance policies, and investment products with discounts and promotions. For example, during the “Back-to-School” season, some banks run promotions to encourage parents to save for their children’s education by providing special savings accounts with higher interest rates or bonuses.

4.6 Diaspora-Focused Banking Services

With significant remittances from the Ghanaian diaspora during certain seasons, particularly Christmas and Easter, banks have developed diaspora-focused services. These include lower fees for remittance transfers, foreign currency accounts, and investment packages for Ghanaians living overseas.

This helps to smooth out seasonal income streams and provides a critical financial lifeline during times when domestic economic activity may be slow. Recognizing this, Ecobank and Access Bank have launched tailored diaspora banking services that include no fees and competitive exchange rates to encourage holiday remittances. This influx of foreign currency increases local bank liquidity and boosts economic activity.

5.0 Conclusion

Seasonality in Ghana’s economy is unavoidable, but with the right strategies, banks can thrive no matter what time of year. Banks in Ghana are well-positioned to deal with the challenges and capitalize on the opportunities that seasonal changes bring by developing flexible loan products, embracing digital banking, and tailoring financial services to their customers’ specific needs.

The ongoing development of financial technology (Fintech) and innovative banking solutions ensures that Ghana’s banking sector is resilient, responsive, and ready to support the country’s economic growth season after season.

In this ever-changing landscape, one thing is certain: banks that can adapt to Ghana’s cyclical economy will continue to play an important role in the country’s development and prosperity.

By: Enoch K. Akuffu-Djobi (PhD Candidate, MSc, MBA, CA, ACIB)

Ecobank GH Plc / GIMPA Business School

Email: enakuffu@gmail.com

Nurudeen Amadu bemoans missed chances in Samartex draw with Raja Casablanca

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Nurudeen Amadu

Head coach of FC Samartex, Nurudeen Amadu, has blamed his side’s inefficiency in front of goal for their inability to beat Raja Casablanca over the weekend.

The Ghana Premier League champions played out a 2-2 draw with the Moroccans at the Accra Sports Stadium on Sunday in the first leg of the CAF Champions League second-round qualifier.

Samartex led 2-1 at the break before the visitors levelled the score after the break to make it 2-2 but the Ghanaian side should have finished off the game with the chances presented them.

“I’m not a happy person, but I think we didn’t disgrace ourselves. The equaliser in the second half was a gift to them because we didn’t defend well in that situation,” Amadu said after the game.

“We were wasteful in front of goal, and that cost us.”

The former King Faisal man is, however, optimistic his side can do the unthinkable in the return leg.

“We are aware that even minor mistakes can be punished at this level. Now we are going to fight because I have seen how they play,” he continued.

“I will strategise for the away game. We will aim to be resilient and fight them there.”

Samartex are hoping to reach the group stage of the competition like Medeama did last season.

Credit: myjoyonline.com

Hearts of Oak will never be relegated – Amankwah

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Assistant coach of Accra Hearts of Oak, Nana Yaw Amankwah

The assistant coach of Accra Hearts of Oak, Nana Yaw Amankwah, has confidently stated that the team will never face relegation and dismissed any early claims suggesting otherwise.

His comments follow Hearts’ poor start to the season, having failed to secure a win in their opening two matches.

The Phobians suffered a shock defeat at home to debutants Basake Holy Stars in their first game, and their struggles continued with a 2-0 loss to Heart of Lions in their second fixture.

These results have led to widespread criticism, with some suggesting that the club may be relegation-bound.

However, Amankwah strongly disagrees with such conclusions, calling them premature and unfounded.

“No, it will never happen. It is too early for anyone to say Hearts of Oak will be fighting relegation, even though we didn’t start very well.

“Last season, some teams were at the top of the table after four or five matches, but by the end of the season, they were nowhere to be found,” Amankwah said.

“Hearts of Oak will never be relegated,” he stated.

Hearts of Oak are currently at the bottom of the league table after two consecutive defeats.

They will be looking to turn things around in their next match on 20th September at the Accra Sports Stadium.

Credit: myjoyonline.com

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