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Nigeria’s finance minister co-heads Commonwealth group for global financial reform

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Minister of Finance, Zainab Ahmed

Minister of Finance, Budget and National Planning, Zainab Ahmed, has been named in the Commonwealth body for global financial reform.

Nigeria’s Ahmed will co-lead the “Finance Ministers Working Group for a Call for Reform of the Global Financial Architecture”.

 

The decision was taken at the just-concluded Commonwealth Finance Ministers High-Level Meeting in Washington D.C., United States.

The senior officials agreed for India to be the chair of the working group and for Nigeria to be the deputy chair.

 

They discussed varying issues at a parley held on the margins of the 2023 World Bank Group and International Monetary Fund (IMF) Spring Meetings.

The topics included national fiscal policies, financial sustainability measures, development finance eligibility criteria, and potential reforms required for a more equitable financial architecture.

The ministers said reforms must increase funding and consider fragility when assisting vulnerable countries in achieving sustainable development.

 

Commonwealth Secretary-General, Patricia Scotland said the world faces interlinked and accelerating economic, security and environmental challenges.

Scotland noted that the problems entwine and amplify existing inequalities, threatening stability, resilience and development prospects.

 

The Commonwealth wants a financial system that will deliver an architecture that is multi-dimensional and adaptive to emerging and existing problems, she stressed.

Credit: dailypost.ng

Chinese govt denies funding militants to access Nigerian mineral resources

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President Muhammadu Buhari and Chinese leader Xi Jinping

The Chinese Government has denied funding militants to access Nigerian mining sites, noting strongly that it will never be involved in any form of terrorism financing.

In a statement on Monday, the Chinese Embassy in Nigeria described a report by The Times of the United Kingdom insinuating terrorism financing in Nigeria by the Chinese Government as totally irresponsible.

The report dated April 15, 2023 and titled, ‘Chinese ‘bribed Nigerian militants for access to vast mineral reserves’ claimed that “Beijing could be indirectly funding terror”

However, the Chinese Embassy said the report is “based on unverified, unclear and unproven information, to which we have to express our strong dissatisfaction and objection”.

“The Chinese government, as well as the Chinese Embassy in Nigeria, have always encouraged and urged the Chinese companies and nationals in Nigeria to abide by the laws and regulations of Nigeria, and to implement the local rules and guidance on labor, environment, health and safety, etc, and would continue their efforts in this regard,” the statement added.

“The Chinese government was and would never be involved in any form of funding terrorism. The allegations contained in the report were totally irresponsible and unethical, and the intention of the report is seriously questioned.

We will continue to work with the Nigerian government to promote development and address security issues. “For the past decades, the bilateral cooperation between China and Nigeria has brought tangible benefits to our bilateral ties and

“We welcome international partners to join our efforts in good faith, but would reject any intention or action that would smear our cooperation.”

Credit: channelstv.com

Execs of Textiles, Garments, Leather sector and AGI hold maiden meeting

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Executive Members who attended the meeting.

The new Executive members of the Textiles, Garments and Leather sector of the Association of Ghana Industries (AGI) have held their maiden meeting to plan activities for the year taking into consideration the needs of the industry.

Madam Edwina Assan, Chairperson of the Textiles, Garments and Leather sector of AGI, at the meeting in Accra, gave an overview of the sector and her plans for the next two years saying her vision was for the sector, “to become the leading Textiles, Garments and Leather Association in West Africa promoting the industry to the world.”

Madam Assan said this was to position the sector as a leading contributor to the country’s economy through standards, value addition and exports.

She spoke about the focus areas for the sector for this year, which included needs assessment, markets creation, identification, and access, data collection for research, as well as membership drive.  On needs assessment, she explained that it was to find out the current needs of the members among the large, medium, small, and micro sections of the sector and a sustainable way of addressing them.

She said with regards to market avenues, it would be for both local and international markets adding, “This will be done by researching for existing ones to participate in, creating their own opportunities and collaborating with others during their promotional activities. Data collection was very key to knowing details of the numbers involved at each time to be able to plan effectively for every programme.”

Meanwhile, the seven-member executive team announced for the Textiles, Garments and Leather sector of the AGI, and they are Madam Assan as Chairperson, Joyce Ababio as Vice Chairperson, Maria Adams as Secretary, Sally Torpey as Marketing and International Relations, Alhaji Dauda Abdulai in-charge of Garments, Fulera Seidu in-charge of Leather and David Boafo in-charge of Textiles.

Source: GNA

Gov’t needs US$2bn to establish fertiliser plant in Ghana

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Business

The government will need about two billion dollars to establish a fertilizer plant in Ghana to increase the volume of production and resolve the intermittent shortage of the commodity, which affects food production and security.

Currently all inorganic fertilizers are imported with the Nitrogen Phosphorous and Potassium (NPK) taking about 50 per cent of the imports, while Urea, Ammonia and the rest cumulatively take the remaining 50 per cent.

In 2020 Ghana imported about 620,000 metric tonnes of fertilizer to feed the agricultural sector, especially for the Planting for Food and Jobs, which had significant impact on production.

To mitigate the impact of fertilizer import on national coffers, the Government, in September 2018, signed a Memorandum of Understanding in Kigali with the OCP Group, a fertilizer producer, to develop a world scale manufacturing plant in Ghana to save the country the huge foreign exchange in importing the commodity.

Following from that, studies on Gas Due Diligence, Geotechnical, Topography & Hydrology, and the Conceptual framework have been completed to pave the way for the establishment of the plant.

Mr Michael Owusu, the Deputy Chair of the National Fertilizer Council, said this in a presentation on the Fertilizer Market, History and Potential in Ghana at a Roundtable in Accra on Monday to address the challenges impacting local supply chains in the country’s fertilizer and agro-inputs sectors.

It was on the theme: “The Future of Fertilizer and Agro-inputs in Ghana Towards the Soil Health Summit,” organised by the African Fertilizer and Agribusiness Partnership (AFAP), in partnership with Feed the Future Policy LINK, a US Government’s global hunger and food security initiative.

Comprehensive answers on key issues from sector stakeholders and industry players during the dialogue would feed into the Soil Health Summit to be held in Senegal in June, 2023.

Mr Owusu said the Planting for Food and Jobs (PFJ) initiative by the Government had contributed to improving fertilizer application from eight kilogrammes per hector in 2016 to 25 kg per hector in 2020, with a huge positive impact on employment for actors in the value-chain.

Ghana experienced fertilizer shortage in 2021, with unaffordable prices and high subsidy rates, leading to farmers decreasing their fertilizer usage, hence the record of lower outputs.

He said fertilizer production must be crop specific to ensure farmers increased productivity adding that the Fertilizer Council was undertaking a national advocacy to promote organic fertilizer use, especially for vegetables, to facilitate all-year round production.

The Council is also promoting Integrated Soil Fertility Management System to combine both organic and inorganic fertilzers to increase production levels and improve soil fertility.

Mr Yaw Frimpong, the Deputy Minister of Food and Agriculture, said the Ministry would review the plan to establish the fertilizer plant because Ghana was blessed with gas deposits, which would facilitate the establishment of the plant and help to cut down cost.

He called for private sector support in combining the production of organic and inorganic fertilizers to improve soil health.

“The Government is committed to investing in agriculture and supporting the development of innovative solutions to improve soil health and increase agricultural productivity,’’ Mr Frimpong said.

He expressed the hope that rich experiences would be shared by conference participants to address the challenges facing the fertilizer and agro-inputs sectors.

Professor Richard Mkandawire, Director, Alliance for African Partnership, recommended the building of robust small and medium scale enterprises in the fertilizer value-chain to boost production.

He appealed to the Government to drive the change and transformation of the agriculture sector by leading the advocacy, building infrastructure to ensure accessibility and affordability of fertilizer, and investing in research and extension services to enhance the growth of the sector.

Mr Michael Sudarkasa, the Chief Executive Officer, AFAP, said the organisation was committed to working with all stakeholders to develop practical solutions to the challenges facing agriculture in Ghana and called for partnerships and collaboration in achieving the set objectives.

Mr Yunus Abdulai, Country Lead, Feed the Future Policy LINK, mentioned agriculture trade facilitation, seeds, fertilizer, access to finance, and climate change as the five key areas the organisation focused on to ensure holistic solution to the sector challenges.

Dr Godfred Seidu Jasaw, Ranking Member, Parliament Select Committee on Food, Agriculture and Cocoa Affairs, urged the Government to prioritise the support of private companies, especially SMEs engaged in organic fertilizer production, to complement the usage of the inorganic ones.

That, he said, would ensure availability and affordability of the commodity by small-holder farmers to improve yield.

About 130 key stakeholders from across the Sub-region are participating in the three-day AFAP Regional Public-Private Dialogue.

By Agnes Boye-Doe

Source: GNA

FDA approves new malaria vaccine

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Mimi Delese Darko, FDA Boss

The Food and Drugs Authority (FDA) has approved R21, a new malaria vaccine, from the Oxford University for use in children between five months to three years.

This makes Ghana the first country in the world to approve the vaccine, which has been described as a “world-changer” by the scientists who developed it.

The FDA’s approval of the vaccine comes even before the World Health Organisation’s (WHO) assessment of the safety and effectiveness of the vaccine.

This is the first time a regulatory authority in Africa has assessed and approved a vaccine ahead of the WHO.

The WHO is also considering approving the vaccine, while other African countries are also studying it.

Medical experts expect R21 to make a major impact on malaria mortality in children in the coming years, and in the long term contribute to the overall final goal of malaria eradication and elimination.

The Serum Institute of India is preparing to produce between 100-200 million doses of the R21 vaccine per year, with a vaccine factory being established in Accra.

Each dose of R21 is expected to cost a couple of dollars.

Malaria kills about 620,000 people each year, most of them young children.

It has been a massive, century-long, scientific undertaking to develop a vaccine that protects the body from the malaria parasite.

Trial data from preliminary studies in Burkina Faso showed the R21 vaccine was up to 80 per cent effective when given as three initial doses, and a booster, a year later.

GNA

Uganda’s Ghetto Kids  makes history at Britain’s Got Talent

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Ghetto Kids group

Triplets Ghetto Kids, Uganda’s dance group are all smiles and raising the Uganda Flag high after securing Golden Buzzer mid-performance at Britain’s Got Talent 2023 on Saturday, April 15, 2023.

Ghetto Kids who have performed on several big stages across the world including 2022 FIFA World Cup were performing at Britain’s Got Talent for the first time and indeed left fans and judges, Bruno Tonioli, Amanda Holden, Alesha Dixon, and Simon Cowell yearning for more.

They pulled off a great act compelling Italian choreographer, ballroom and Latin dancer, and Television personality, Bruno Tonioli hit the Golden Buzzer to give the Ghetto Kids a standing ovation at their very first audition at the competition.

“I was literally exploding. I am telling you, you should be proud of yourself. I can’t wait to see you back,” Bruno Tonioli said.

Cowell revealed that the golden buzzer, which sends the act straight through to the competition’s live semi-final, has never been pressed before during a routine but described the moment as “magical”.He added: “I think it’s incredible. You’re so young, you’ve flown all the way, no fear, this is an audition we’re going to remember and it was brilliant.

Credit: citinewsroom.com

My energy on stage has nothing to do with drugs -Epixode

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Epixode

Ghanaian artiste Epixode has explained why he refrains from smoking or drinking alcohol, contrary to the common perception that people in showbiz circles often engage in such behaviors why he does not smoke or take alcohol.

He told Kwame Dadzie in an interview on Joy Prime that contrary to the perception that people in the showbiz circles are drug addicts and live debauched lifestyles, he is an exception.

According to him, he was brought up in a home which prohibited alcoholism, smoking or acts that could dent the image of the family.

Asked how he feels when he is in the midst of his colleague musicians who are into such lifestyles, he said sometimes pretends to belong.

“Sometimes I fake it. Sometimes I dey backstage norrr somebody go come. ‘Chale you get lighter for there?’ Then I will say ‘Oh, the last one finish oo. Not to actually say that the people who do it are bad. From even a fan’s perspective, they idolise you. They look at you in certain ways. They look at you as somebody who they can see themselves in,” he said.

Epixode said he does that so they don’t feel condemned for their act.

He noted that his energy on stage has nothing to do with drugs like some may think.

Credit: pulse.com.gh

The invention of Hiplife inspired Afrobeat -Reggie Rockstone

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Reggie Rockstone

Reggie Rockstone, a prominent figure in the Ghanaian Hiplife music genre, recently expressed his dissatisfaction with the level of recognition he has received. Speaking on Class 91.3 FM’s ‘The Big Show’ on April 15, 2023 Rockstone argued that the Hiplife movement he led in the 90s inspired today’s popular Afrobeats genre, and that he and others who contributed to the movement deserve a share of its success.

Rockstone lamented that he frequently gets asked in interviews if he feels duly recognised, suggesting that this question wouldn’t arise if he had received the recognition he deserved.

“We’re eligible for a slice of that pie because we worked for it,” he added, later bemoaning that were he adequately celebrated, he would repeatedly not be asked in interviews if he feels duly recognised.

“If everything had been put right, you would not have asked this question, would you have?””It seems you [Nana Kwesi] can realise that this guy’s [Rockstone] story and praise have not been duly broadcast,” he said.

However, he maintained that his confidence remains unshaken because he is a “very confident older African” who has always been self-assured.

Rockstone acknowledged that the lack of recognition he has received is a common experience for people like him, citing the adage that “a prophet is not respected in his own hometown.” He believes that he and others like him are “sacrificial” and were brought up to contribute to their countries and communities.

“So, I totally understand it.People like me and many others, we are sacrificial,” he added. “That’s [how] we [were] brought up [and] brought here to do.

“And I guess, many many [years after] when I’m gone is when people might actually see all that I really did for Africa, the world or my country,” he posited.

Credit: pulse.com.gh

The Keeper’s Music, Pastor Siisi Baidoo release a prophetically uplifting single

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Leading Christian record label, Keeper’s Music, has released yet another powerful and inspiring gospel single dubbed “Power in the Name”. The song features The Keeper’s Music and Pastor Siisi, who are seen singing under a charged prophetic atmosphere, full of declaration of faith.

The spiritually uplifting single is characterised by a melody of dominant vocals and strong harmonies which re-emphasise the miracle working power of Jesus Christ.

Speaking on the inspiration behind the song, Global Lead Pastor for The Keeper’s House, Rev. Francis W. Aubyn intimated.

This song was inspired by a deep sense of spiritual hunger for an intimate relationship with Jesus Christ and that is what it will achieve”.

He continued, “The value and virtue in the name of Jesus are revelations birthed only out of deep encounters with the Holy Spirit through such anointed minstrels to a world in need of all kinds of healing”.

The Keeper’s Music (TKM) is undoubtedly one of the fastest music groups in Africa and the first record label established by a church – The Keeper’s House Chapel Int’l (TKH) in Ghana.

The record label is beginning to inspire many churches to support both in-house talents and others outside the church.

The label, which was launched in April and unveiled to the media in September, 2022 has so far done 3 single music releases including – ‘’Beautiful God’’ featuring Joe Mettle and Flo Ra (an artiste on the Label), “Hosanna Adoration” featuring Tansy (an artiste on the Label) and “I’m not Afraid”, featuring Flo Ra, with “Power In The Name” being the latest single to be added to the pile.

These masterpieces in 2022/2023 have already made their way to several playlists on radio stations and digital streaming platforms.

The music group has recently announced the launch of this year’s flagship music concert, “APRIL CONCERT”, slated for April 22, 2023.

The event, one of the most anticipated in the capital city of Ghana serves as the annual concert of the label to share the stage with various world-class artistes, as well as connect with the general public through anointed praise and adoration to the Lord Jesus Christ.

World’s largest population: Will India gain or lose?

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India population

For decades, India ran family planning programmes aimed at curbing its population growth amid limited resources.

Then, as the Indian economy took off after liberalisation in the 1990s, the country’s policymakers changed tack: The country’s vast, young labour pool, New Delhi argued, was a “demographic dividend” that would pay out handsomely for the Indian economy.

Now, that promise is set to be tested like never before. India is poised to overtake China to become the world’s most populous country, with more than 1.4 billion citizens, in April, the United Nations has predicted.

Though India’s birth rate has slowed down in recent years, the country has a larger working-age population in absolute numbers (1.1 billion) and proportion (75 percent of the population) than any other major economy.

Meanwhile, China is ageing, with its population declining in 2022 for the first time in more than 60 years. Its economic growth, which had skyrocketed at an average of nearly 10 percent a year since 1978, is now anaemic: The country’s gross domestic product (GDP) grew just 3 percent in 2022, and even by Beijing’s own estimates, is expected to increase by just 5 percent this year.

The disruptions of COVID-19 and rising geopolitical tensions with the West have also made industries and investors consider destinations other than the world’s second-largest economy for their supply chains and plants.

Source: Aljazeera.com

The Ghanaian Chronicle