SARPONG'S BLOG

By Fred Sarpong The District Director of Education at the Atebubu District in the Brong Ahafo region, Alhaji Sulaiman Jacon has been sited of doing deals at the District. Investigation conducted by this reporter revealed that the District Director have been making a lot of money through illegal means. What he has been doing is that, he recruits People Teachers (PT) for the district and he charges each PT between GHc600.00 and GHc800.00. As from the time of doing this investigation (Early this year) he has already recruited 600 People Teachers to the district. The investigative team also realizes that, Alhaji Sulaiman failed to cross check the various certificates of these PTs from their various educational institutions, especially from the West Africa Examination Council (WAEC) for those coming from Senior High Schools. However, our investigation also revealed that most of the result slips from these 600 PTs are fakes. Interesting, he gives the appointment letters...

International Finance Corporation (IFC), a member of the World Bank Group has announced a new agreement with Advans Ghana Savings and Loans Limited to expand access to the Business Edge training program in Ghana. The program will help entrepreneurs gain the skills needed to succeed and supporting small business growth in the country. The agreements will allow 240 Small and Medium Enterprises (SMEs) to access world-class management training, run more efficient businesses and improve staff productivity. In a statement issued and copied Daily Express by IFC Ghana office said Business Edge is an important part of IFCs strategy to support smaller businesses in Africa. The interactive product has already helped more than 100,000 entrepreneurs in emerging markets improve their skills and profitability.  Mary-Jean Moyo, IFC Country Manager for Ghana, said, "IFC places high priority on encouraging entrepreneurship in Ghana, which is supported by new partnerships and the expan...

By Fred Yaw Sarpong The management of Aero Contractors has launched its 13 th route from Accra’s Kotoka International Airport to the Douala International Airport in Douala, Cameroon and back to Accra on same flight on the same day. Launching the services, the Accountable Manager of Aero Contractors, Captain Russell Leefon said for over 54 years in airline operation, his outfit has improved on their service delivering to the continent. He said it is their aim to give customers the most direct route to their destinations and also cement their grip on the West African market. He indicated that their purpose is to connect other route to Accra and other destinations. He mentioned that they add some route like Monrovia, Free Twon, Conakry and Dakar. ‘Aero flight is reliable, comfortable and affordable as well,’ he added. According to him this unprecedented initiated goes to further highlight the airline’s strategy to continue to provide the most reliable, convenient, fast way ...

By Fred Yaw Sarpong The continues decline of gold price on the international market affected Ghana’s producer price index released by the Ghana Statistical Service (GSS) for April 2013. This was announced by the acting Government Statistician, Dr. Philomena Nyarko in Accra, during the released of Producer Price Index (PPI). The PPI measures the average change over time in the prices received by domestic producers for the production of their goods and services. She indicated that for some months now gold price on the international market has been going down. The current gold price is hovering around US$1,386, a change of negative 4.41, representing negative 0.32%. Bank of Ghana announced through it Monetary Policy Committee (MPC) meeting that total exports declined by 7.3% in year-on-year terms to US$3.8 billion during the first quarter of 2013. Of the total, gold exports were US$1.5 billion, Cocoa beans and products were US$725.8 million, and Crude oil exports amounted to...

By Fred Yaw Sarpong Both commercial and universal banks in Ghana are expected to adjust their base lending rates as a result of Bank of Ghana (BoG), the regulator of the banking industry increasing its policy rate from 15% to 16%. The Central bank’s policy rate serves as the benchmark for the commercial/universal banks in the country in setting their individual base lending rates. Mostly, the possibility for commercial/universal and other financial institutions to increase their base lending rates is high whenever the central bank increases it lending rate. The policy rate is the rate at which the central bank lends to commercial/universal banks and serves as a basis for the banks in setting their base lending rates, especially to their respective customers. Announcing the new policy rate in Accra, which is a 100 basis points higher than the previous rate of 15%, the Governor of BoG and Chairman of the Monetary Policy Committee (MPC), Dr. Henry Kofi Wampah said o n balanc...