Aban's Integrity in the Mud!

Everybody, it’s Friday! Take a moment and sniff the air around you—can you smell it? Yep, that’s the weekend rolling in! The buzz, the energy, the promise of two glorious days to kick back and unwind (it kinda feels like minutes if we’re being honest but, we’ve gotta practice gratitude, right?)

So let’s get right into it:

• Is this National or Crime? (couldn’t decide): Two police officers decided they’d moonlight as cash collectors. Now, they’re explaining to the top brass why they thought shaking down a citizen was a good idea.

• Economic: Ghana’s been cleaning up its fiscal house like a teenager trying to impress their parents, but there’s still that pesky corner we need to sweep.

• Economic: ADB Bank Shares Go from “BoG to Gov”

• Politics: Mahama takes a swipe at NAPO, comparing his arrogance to pregnancy—it’s just too big to hide!

• Fact of the Day: There are no “A” in numbers below 1000 or are there?

• Politics: A country that prays together, slays together. That’s why John Mahama wants to bring all Ghanaians together for a National Day of Prayer and Thanksgiving.

• Entertainment: Portia Asare’s tells where she got her curves from.

• National: FDA has no plans of paying GHs 93.9 million to Tobinco without a fight.

• National: Akufo-Addo’s about to make it rain in the North—well, at least he’s promising to.

• National: Fuel prices are keeping their cool for the rest of August, so no need to worry about your wallet taking a hit.

QUICK BYTE

• Two of our boys in black, Lance Corporals Philimon Agbevem and Peter Gbadagbo, decided to take a little “side hustle” way too seriously. They allegedly shook down a motor pillion rider for some extra cedis on July 22, but karma wasn’t having it. Fast forward to August 9, and the internet did what it does best—blow things up. The allegations went viral faster than your auntie’s WhatsApp chain messages, and before you could say, “Busted!”, the police leadership swooped in. These two didn’t even have time to say, “It wasn’t me!” before they got slapped with interdiction papers. They’re currently helping with the investigation, which is basically code for trying to talk their way out of this mess. Let’s just hope they’re better at telling the truth than they were at extortion. Read more

• Ghana’s economy has been on a bit of a glow-up lately, and the World Bank is here for it—but they’re also like, “Don’t get too comfy just yet.” We’ve managed to tame inflation, and debt’s getting a whole new look thanks to some serious restructuring. It’s like you on the days you clean your room but don’t remove the cobwebs, and the dust under the bed. Lol. Want the deets in full? Check out the Deep Dive section.

• So, the Bank of Ghana (BoG) just pulled a “pass the parcel” move, deciding to hand over its shares in ADB Bank to the government. Why? Because it’s tired of playing the role of financial babysitter every time a state-owned bank needs a bailout. By April 2025, the BoG plans to step back and let the government take the reins, hoping to finally sort out the structural mess that’s been haunting these banks like in a Nigerian movie. Get the 411 in the Deep Dive section below

• John Dramani Mahama didn’t mince words when he called out Dr. Matthew Opoku Prempeh, aka NAPO, for his recent comments about the late President Mills. At a community event, Mahama went full blast, saying NAPO’s arrogance is as obvious as a pregnancy—there’s no hiding it! NAPO’s slip-up, where he referred to President Mills as “the one who died,” didn’t sit well with Mahama, who found it downright disrespectful. In Mahama’s view, you can throw shade at him all you want, but disrespecting the dead is a big no-no in our tradition. Read more in the Deep Dive Section.

• As it stands now, John Mahama thinks we need a little divine intervention, so he wants to roll out a National Day of Prayer and Thanksgiving. Inspired by events in the U.S. and Zambia, Mahama’s idea is to have all Ghanaians hit pause and come together to thank the Almighty for the good, the bad, and fufu. He’s convinced that a little gratitude will go a long way in making sure Ghana keeps glowing up. But Mahama wasn’t just talking to the Big Guy upstairs. He also reminded everyone to keep their eyes peeled when picking leaders. With some low-key shade, he warned that not everyone who smiles at you has your back, urging voters to choose integrity over empty promises. Oh, and he didn’t hold back on dragging the current gov for mishandling the banking crisis. Read more

• Some people have been really concerned with Portia Asare’s behind. So now she wants everybody to know her curves are “deliver fresh from nature God” and clearly a blessed gift, not something you’d find on a doctor’s checklist. She’s like “come and see my mother, it’s the same thing with her.” Read more

• Remember the GH¢93.9 million judgment debt awarded to Tobinco in their legal showdown with the FDA? The FDA is fuming over it. They haver refused to wave the white flag. Instead, they’re revving up for a sequel: the appeal. They’re saying their defense was solid, even if some critics think it was a bit flimsy. Thinking about it, since Tobinco said his good name is more important, he should just give up the money eh, anaa we are crazy?😂😂 Read more

• So, the northern regions are feeling like they've been abandoned in the Sahara while their crops are slowly turning into dust. President Akufo-Addo has stepped in with a grand promise that’s like a splash of cold water on a hot day. During his recent stop at the Bolgatanga Regional Hospital, he assured farmers that he’s got a plan to turn their dry luck around. Remember that ‘One Village, One Dam’ initiative that was supposed to be the farmers’ oasis? Well, it’s been more like a mirage in the desert so far. But now those farmers have something to smile about. After all, what’s a little drought compared to a presidential promise, right? Read more

• Great news for those of you who dread that awkward moment at the pump: petrol, diesel, and LPG prices are sticking to their guns for the rest of August 2024. The Institute for Energy Security (IES) is giving us a breather, thanks to the local currency's sluggish tumble and some interesting shenanigans on the international market.

  Here’s the lowdown:

  • Petrol and diesel have had a bit of a price drop—think of it like a discount at your favorite store. Petrol has taken a 2.83% dive, while diesel’s taking a deeper plunge at 4.46%.

  • LPG? Well, it’s been a bit cheeky and decided to sneak up by 2.66%. Not the best news, but at least it’s not a rollercoaster. Read more

DEEP DIVE

Ghana’s Got Moves, But the Dance Ain’t Over Yet

After wobbling a bit (maybe more), Ghana’s economy is finally finding its rhythm. Inflation? On the decline. Debt? Getting a makeover. And fiscal consolidation? Let’s just say, the government’s been cutting back better than a miser.

World Bank’s main hype man, Robert Taliercio O’Brien, popped up on PM Express and basically said, “Y’all are doing great on the economic dance floor, but there’s still some more two-step left in this routine.” He’s giving props where they’re due, like Ghana’s domestic debt restructuring in 2023, which was kind of like hitting the reset button on an old video game—necessary but tricky.

But before you start doing victory laps, O’Brien’s here to remind us that we’re only halfway through the game. Sure, we’ve got the domestic debt drama sorted, and even the commercial bondholders are on board, but there’s still a lot of “loading…” going on.

O’Brien’s final note? “Keep your eyes on the prize. You’ve made some killer progress, but the journey’s not over.” Read more

Extreme Makeover: ADB edition

The Bank of Ghana (BoG) is basically playing hot potato with its ADB Bank shares, and the government’s about to catch. But before you think it’s all fun and games, there’s a serious reason behind this move. The BoG has had enough of repeatedly swooping in to save the day whenever state-owned banks run into trouble. So, they’re passing the baton to the government, who will now have to deal with ADB’s ups and downs. It’s like that moment when you hand over a group project to your partner and say, “Your turn!”

But that’s not all. The BoG isn’t just stepping back and hoping for the best—they’ve got a plan. They’re digging into the nitty-gritty of what’s wrong with these state-owned banks, from their business models to their risk management (or lack thereof). It’s like a massive diagnostic check-up, but instead of finding out why your car’s making that weird noise, they’re figuring out why these banks can’t seem to stay out of trouble. And trust us, this isn’t just a Band-Aid solution—they’re going all-in to fix things by April 2025.

And what’s the blueprint for this grand overhaul? The recent revamp they did at National Investment Bank (NIB). Remember that time when NIB was in hot water, and BoG stepped in with a whole bag of tricks, including governance reforms and a brand-new business model? Well, they’re about to roll out the same playbook for ADB.

But BoG isn’t done shaking things up. They’re also phasing out the regulatory forbearance they introduced during the domestic debt exchange (DDE) saga. It’s like they’re saying, “Okay, we helped you out when things were tough, but now it’s time to get back to business as usual.” By 2025, all those temporary relaxations on capital adequacy requirements will be history, and BoG will be keeping a close eye on any unintended fallout. So, here’s hoping this time, the changes actually stick. Read more

“NAPO Has Bad Behaviour”

In a fiery response that’s making waves, former President John Dramani Mahama didn’t hold back as he slammed Dr. Matthew Opoku Prempeh, also known as NAPO, for what he called an outrageous display of arrogance. The spark? A video clip where NAPO referred to the late President John Evans Atta Mills as “the one who died.” Mahama, speaking at a community engagement in the Volta Region, couldn’t believe his ears and went in hard, comparing NAPO’s arrogance to pregnancy—because let’s face it, there’s just no way to hide it!

Mahama’s clapback comes on the heels of another NAPO controversy where the NPP running mate praised President Akufo-Addo above Ghana’s founding father, Dr. Kwame Nkrumah. That incident didn’t exactly win NAPO any friends, and even though he apologized, it seems he hasn’t quite learned the art of choosing his words wisely. Mahama’s frustration was palpable as he pointed out the deep cultural respect we owe to the dead, emphasizing that NAPO’s comment wasn’t just a slip-up—it was a slap in the face of tradition.

For Mahama, this isn’t just about political rivalry; it’s about respect, plain and simple. He’s been in the game long enough to handle insults thrown his way, but when it comes to the late President Mills, it’s a different story. “You can insult me because I can respond,” Mahama said, “but in our tradition, you don’t say evil things about the dead.”

The former president’s sharp words have struck a chord with many, as Ghanaians on social media echo his sentiments. After all, in a society that holds dear the memory of its leaders, especially those who have passed on, NAPO’s comments seem less like a political jab and more like a gross misstep. Read more

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NEWS SOURCES

Today’s stories are curated from:

1. www.myjoyonline.com

2. www.ghanaweb.com

3. www.citinewsroom.com

4. www.norvanreports.com

5. www.channel1new.com