The Board Chair of the Electricity Company of Ghana (ECG), Keli Gadzekpo, has tendered in his resignation, effective April 9. In his resignation letter to President Akufo-Addo, Mr Gadzekpo cited personal reasons as his motive behind the move. The board chair further wished ECG and the government continued success in the effort to providing stable electricity for the country. His resignation however comes at a time when Ghana's energy sector is facing a crisis, with the Electricity Company of Ghana facing criticism for not keeping the power on consistently. Appointed to the board in 2017 by then Energy Minister Boakye Agyarko, Gadzekpo was tasked with a strategic role aimed at ensuring energy sufficiency. As a seasoned entrepreneur, he has been instrumental in the establishment and growth of various companies, notably the Databank Group of Companies, which includes Databank Asset Management Services and Databank Epack Investment Fund Ltd. With over two decades of experience in investment banking, Gadzekpo currently serves as the Board Chairman of Enterprise Group and chairs the Databank Foundation, the corporate social responsibility arm of the Databank Group. Gadzekpo is an alumnus of Achimota School, holding a BSc in Accounting from Brigham Young University and a CPA from the USA. Furthermore, he is a Mason Fellow of the John F. Kennedy School of Government at Harvard University, where he obtained a master’s degree in Public Administration. Credit: Myjoyonline

Comedian Benson Nana Yaw Oduro, popularly known as Funny Face, has been remanded into police custody for two weeks by the Ofaakor Circuit Court in the Awutu Senya East District of the Central Region. The court's decision follows Funny Face's appearance before it on charges of drunk driving and careless driving. The comedian's arrest occurred on Sunday evening after an incident where he allegedly rammed his vehicle into a group of individuals at Kasoa Kakraba, resulting in injuries to five people. As per the court's ruling, Funny Face will remain in police custody for the specified duration, pending further legal proceedings. About Funny Face’s accident Funny Face was involved in a gory accident at Kasoa, located in the Central Region. He was said to have knocked down five people at a place known as Kakraba Junction. Among the victims were a mother and her two children and two other motorcyclists whom he hit after the impact. On March 24, 2024, reports indicated that he was intoxicated and driving at excessive speed resulting in the incident. Accra-based UTV posted a video from the scene showing Funny Face being led away while others swarmed the vehicle that he was reportedly driving in. He has been embroiled in a messy relationship issue in recent years with his baby mama, which the issues led a court to refer him for psychological evaluation. He is also on record to have admitted to battling depression at a point. In recent rants, he attacked his baby mama on social media accusing her of scheming to take their three children away from him forever. Source: Ghanaweb

Minister of Finance, Dr. Mohammed Amin Adam (MP), has hinted that the Ghana cedi has been largely stabilised since early 2023 against the major trading currencies, even though it is seeing some pressures on the cedi in recent times. The Minister made these revelations while addressing the media in Accra. Speaking at Tuesday's monthly economic update, he said "The cedi cumulatively depreciated against the US Dollar by 27.8% at the end of December 2023 down from the depreciation rate of 30.0% at the end of December 2022 and 50% at the end November 2022" "February to December 2023 depreciation against the USD was only by 9.1% compared to 29.8% over the same period in 2022, showing significant stabilisation over the last 11 months of 2023" Explaining further, he noted that the high depreciation of the cedi against the US Dollar in January 2023 (20.6%) was largely on the back of realignment of the foreign exchange market between the official and the forex market. "The Cedi’s stability has continued into 2024, with a cumulative depreciation of 6.8% as at 20th March 2024, compared to 22.1% recorded in the same period in 2023. We encourage the Bank of Ghana to continue with its intervention to sustain the stability of the currency" "However, the exchange rate has witnessed some pressures in the last few weeks due mainly to the strengthening of the US Dollar against major trading currencies. Additionally, payments made for energy and corporate sectors, compounded by the delays with the disbursement of the 2nd tranche of the cocoa loan and the World Bank DPO1 have placed further pressures on the cedi" "According to the Bank of Ghana, these pressures have been mitigated somewhat by the continued inflows from remittances and mining companies, and from the domestic gold purchase programme" "To further stabilise the currency, we are expecting a total disbursement of about US$1.2 billion from our Development Partners namely the IMF, the World Bank, and the African Development Bank before the end of 2024. Additional planned disbursements from ongoing projects will also support our growth interventions and strengthen the currency. In this vein, we kindly request Parliament to approve the US$150 million World Bank facility for the GARID project to enhance flood protection at the local level" "Gross International Reserves (GIR) including encumbered assets and petroleum funds stood at US$5.9 billion (2.7 months of import cover) at the end of December 2023 from US$6.3 billion (2.7 months import cover) at end December 2022. The GIR improved to US$6.2 billion at the end of February 2024 compared to US$5.9 billion in the corresponding of 2022" "The GIR is supported by BoG’s Gold-for-Reserve Programme and the government’s Gold-for Oil Programme.  In addition, external inflows from the IMF and World Bank as well as the Cocoa Syndicated Funds have helped shore up the GIR" "The IMF has so far disbursed US$1.2bn since May 2023 and the World Bank is disbursing US$300mn following the recent parliamentary approval of the World Bank DPO" On monetary sector developments, he said "The Monetary Policy Rate was lowered by 100 basis points to 29% in Jan 2024 (116th MPC) in response to the disinflation process that started in Jan 2023. At its 117th meeting, the MPC maintained monetary policy rate at 29%" "Although interest rates moderated from 35.5% (91-day TB) in Dec 2022 to 19.7% in Apr 2023, the Minister explained that the rates increased to 29.36% as at end-Dec 2023 on the back of T-bills remaining the main source of domestic financing after the DDEP" "However, the first twelve auctions in 2024 have witnessed a consecutive decline in interest rates with the 91-Day Treasury Bill rate at 26.0% as of 25th March 2024" On fiscal performance, Dr. Adam stressed that the fiscal balances are also improving adding that provisional data on government’s fiscal operations for end- 2023 show that Ghana met its primary balance (commitment) target. "The overall budget deficit (on commitment basis) improved from a deficit of 11.8% of GDP (Ghs72.2 billion) in 2022 to a deficit of 3.9% at the end of 2023, and lower than the target of 5.7% of GDP (GH¢49.0 billion)". "The Primary balance (on commitment basis) also improved from a deficit 4.3% of GDP at the end of 2022 to a deficit of 0.3% of GDP (GH¢2.5bn). The 2023 outturn was lower than the target deficit of 0.5% of GDP" "The overall budget balance (on cash basis) also saw an improvement from a deficit of 10.7% of GDP in 2022 to a deficit of 3.2% of GDP (GH¢27.4 billion) and lower than target of 6.4% of GDP)" He further explained that total revenue and grants collection of 15.8% of GDP (GH¢134.9bn), representing a 39.6% growth in revenues with respect to 2022 revenue collections. "Total Expenditures (commitment), on the other hand, reduced by 0.2% to GH¢168.4bn (19.7% of GDP) in 2023 from the 2022 outturn of GH¢168.8bn (27.7% of GDP). The 2023 Expenditure outturn was contained within the target of GH¢183.9bn (21.5% of GDP)" Touching on public debt, Dr. Amin Adam said "The Public Debt trajectory is improving as the debt to GDP ratio reduced to 71.4% of GDP at the end of 2023 from 73.5% of GDP at the end of 2022" Story by: Joshua Kwabena Smith

National Executives of the United GaDangme Caucus has called on the Gbobu Wulomo, Numo Gbobu to inform him of the group’s activities and to ask for his personal support and divine prayers. According to the National Executives, calling on the Gbobu Wulomo was a step in the right direction physically and spiritually. The National Executives asked Numo Gbobu to pray for the realisation of the Association’s vision and mission that the good message of the caucus will find favour and be acceptable to all GaDangme people. They also asked for prayers for the leadership of the caucus for good health, strength and wisdom to lead the caucus to greater heights. In addition, prayers for the caucus to grow from strength to strength, to inspire confidence and help promote, protect and defend the interests of all GaDangme people. The sympathetic cause of the United GaDangme Caucus appealed to Nuno Gbobu to pray for John Mahama and all NDC parliamentary candidates to win the 2024 Presidential and Parliamentary elections. Numo Gbobu expressed his gladness for the visit particularly the recognition of the importance of the prayers of the Priest in the face of competition, voyage, unity and peaceful coexistence. He advised the executives to stay focus to the cause and work with the people eschewing all forms of rancor. It will be recalled that Numo Gbobu in private life before becoming the High Priest was an ardent football enthusiast and an executive of the NDC. His passion to see the GaDangme people take their rightful seat at the table of national leadership is however not in doubt. Story by: T. T. Caternor

Finance Minister, Dr. Mohammed Amin Adam has commended the revenue mobilization efforts of Ghana Revenue Authority officials at the Tema Port. In a recent visit to the port, which forms part of a broader economic strategy aimed at curtailing revenue losses and diminishing perceptions of corruption within port operations, Dr. Adam expressed his appreciation for the efforts of the officials. He urged them to intensify their efforts in stemming all avenues of revenue leakage within the port system. “I am sure many people may be thinking that my visit here is to chastise you but my visit here is to motivate and encourage you for what you do. When the sector commander was speaking, it became clear that you have been doing well but…you are short of 11.3 percent and so there is a need for improvement.” He also assured the officials of a greater collaboration to address the challenges bedevilling the Ghana Revenue Authority. “I am very determined to work with you at the management and staff level to address the challenges that you have been experiencing and having over the years. There are leakages and you must ensure that we block those leakages. “I have received information that there are some goods that are not accounted for and I have been discussing with the commissioner-general how we resolve this because it is important that we put in extreme measures to ensure the accountability of commanders at the warehouses.” The Flagbearer of the New Patriotic Party, Dr. Mahamudu Bawumia on the contrary, in an engagement with members of the Ghana National Chamber of Commerce and Industry on Wednesday, March 20, 2024, accused the GRA of harassing businesses due to unrealistic targets. Credit: Citinewsroom

As Parliament is yet to officially declare the Ejisu Constituency Parliamentary seat vacant to make way for a by-election following the demise of the Member of Parliament for the area, names of interested persons seeking to succeed the late John Ampontuah Kumah are emerging. Former President of the Ghana Football Association, Kwesi Nyantakyi, has emerged as a potential candidate for the upcoming by-election in the Constituency. While Mr Nyantakyi expressed his belief that contesting the by-election is feasible, he also acknowledged the grieving process within the constituency due to the loss of the late Deputy Finance Minister. During an interview in Kumasi at the launch of the New Patriotic Party’s Ashanti Regional Campaign team, Nyantakyi subtly revealed his intentions to participate in the Ejisu by-election once the official timetable is announced. He emphasized his connection to the constituency and his eligibility to contest but recognized the current mourning period for the late MP. “The Ejisu by-election will definitely come on, but the timetable has not been published yet so we don’t know those who want to contest. Since I come from there and I have the right to contest, at the right time, we’ll see what will happen. “But at the moment, we are mourning the demise of a very dear son of the constituency. The Member of Parliament is a big loss to the constituency and let’s see what happens after the one week,” Nyantakyi stated. He called on the rank and file to give the party’s flagbearer, Dr Mahamudu Bawumia peace of mind in the selection of a running mate. “I think it is a prerogative of the flagbearer to select the running mate, so let’s leave it to him. At the right time, he’ll do that.” Credit: Citinewsroom

Ghanaian rap icon, Medikal has announced his departure from the renowned AMG Business record label, marking the end of an era in his musical journey. The decision to part ways with AMG, which stands for “Arab Money Gang,” comes after years of collaboration and success within the Ghanaian music industry. Medikal, born Samuel Adu Frimpong, rose to prominence under the tutelage of AMG Business, founded by fellow artist Criss Waddle. During his tenure with the label, Medikal released several hit songs and albums, solidifying his position as one of Ghana’s most influential hip-hop artistes. The ‘Omoada’ hitmaker made this announcement on X (formally Twitter). However, he did not disclose the motive behind his departure. “I’m no longer a member of AMG. If you see me wey you talk AMG I go fi slap you,” he said. The rapper joined the record label in 2010 in his early career and has since found fame through AMG and created several hits. Credit: Ameyaw Debrah

A close relative of Ghanaian Comedian, Benson Nana Yaw Oduro Boateng, known in showbiz as Funny Face has disclosed that no causalities were recorded in last Sunday's accident which occurred at Kakraba junction, a suburb of Kasoa in the Central Region. According to the relative, significant injuries were sustained by the victims involved. In a latest development, Ebenezer , the son of Theresah, the 50 year -old mother who was knocked down by Funny Face, has given an account of the aftermath of the accident. It is emerging that Madam Theresa suffered a serious injury, with both of her knees broken in the collision while the children had head injuries. Sources say the little girl had internal bleeding as well as a very dangerous cut on the head while the little also had a cut on his head. The incident, which occurred at Kakraba Junction in Kasoa, prompted immediate medical attention, with all victims swiftly transported to the hospital for treatment. Fortunately, despite initial concerns, it was clarified that none of the victims succumbed to their injuries. The niece, initially believed to be deceased due to severe unconsciousness and bleeding, survived the ordeal. "She didn't die, she was very unconscious she was bleeding, she couldn't talk so people thought she was dead . This morning, I called my sister, but she didn't confirm whether she was talking about what she was not talking about. We didn't finish the conversation then the call dropped, so I don't know," Ebenezer expressed uncertainty regarding the latest updates on his family members' conditions. Meanwhile, the whereabouts of Funny Face, whose involvement in the incident has been confirmed but whose condition remains undisclosed. The police have been alerted to the incident, with further inquiries ongoing. "I will go to the police station today. I'm with the last born of my friend and one of my nephews and then my grandmother, so I'm going back to the police station to check on them. Nobody has got me from the police station, but they came there yesterday to take some pictures. I haven't seen Funny Face either, I saw him in the video that went viral, but I've not seen him physically. I don't know where he is, the police came, but Funny face wasn't part. So as of now, we don't know anything from Funny Face's side," The circumstances leading to the accident remain unclear. Credit: Pulse GH

Information reaching Thinknewsonline.com indicates that Comedian, Funny Face has been involved in a ghastly accident at Kakraba junction, a suburb of Kasoa in the Central Region. According to sources, Funny Face who was drunk driving knocked down a woman, two children and two others persons who were on a motorbike. Further information gathered reveals that the ghastly accident has led to the death of a little girl while the four other persons are in critical conditions. More to follow.... Story by: Joshua Kwabena Smith

News coming in indicates that Veteran Nollywood Actor, Amaechi Muonagor is dead It will be recalled that the Late Actor, few weeks ago appealed to Nigerians to assist him financially to carry out a kidney transplant in India. More soon...... Story by: Joshua Kwabena Smith

News coming in indicates that the former Member of Parliament (MP) for Talensi Constituency, John Tia Akologo, has been reported dead. It is emerging that the Late MP died in Bolga in the early hours of Sunday after falling ill briefly. He was the MP of Talensi between 1993 and 2013. More soon..... Story by: Joshua Kwabena Smith

The Director-General of the National Road Safety Authority (NRSA), Ing. David Osafo Adonteng, has reiterated that ‘Okada’ operations remain illegal. This statement follows promises made by the flagbearer of the National Democratic Congress, John Mahama, that he would legalise the operations of commercial motorbikes popularly known as okada when he interacted with residents of Worawora in the Biakoye Constituency of the Oti Region on Tuesday, March 19, 2024. “If we come into power, we will legalise okada business. We will train you on how to go about the business, being able to ride the motorbikes alone does not make you a commercial rider" "We will register all of you so your operation can be regulated,” Mahama told his supporters. However, addressing the issue during the launch of the 2024 Road Safety Easter Campaign, Ing. Adonteng indicated that the current legal provisions prohibit the use of motorcycles and tricycles for commercial purposes. “As far as the National Road Safety Authority and the Ghana Police Service are concerned, the law is what we are going with and in Ghana, the regulations provide that motorcycles or tricycles cannot be used for commercial purposes. You can only use it for delivery or courier services and that is acceptable by law and that is what we are enforcing. “We have recently been engaging some motor riders and some of them have formed some associations and I don’t think it is called Okada Riders Association. We have found a strategy of engaging them, training them, sensitizing them, and we have seen some significant reductions in terms of their contribution to the fatalities stock.” “If someone says he will regularize their activities or I will accept, let us get there but for now, we are enforcing what has been provided by the Road Traffic Regulations LI 2180,” Ing Adonteng added. Credit: Citinewsroom