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DEEP DIVE
So, the Ghana Statistical Service just dropped their 2023 AHIES report, and it’s a mixed bag.
Over 2 million young Ghanaians, aged 15-35, are chilling at home, not in school, not working, and not even in training. Yeah, you read right—NEET (Not in Education, Employment, or Training).
Out of these 2 million NEET people, the ladies are leading the pack with 1.2 million (brings a whole new meaning to ladies first🙆🏽♀️🤦🏽♀️), while the guys are just a little over 700,000. Greater Accra Region, you’re the star of the show with a whopping 565,360 NEET youth. And let’s not sleep on the Northeast Region; y’all are right behind.
Urban areas are showing off with a higher NEET rate at 20.6%, while the rural areas are chilling at 15.0%.
But don’t throw your hands up just yet, ‘cause there’s some good news. The NEET rate has actually seen a 5.9% drop between 2022 and 2023.
Safe to say we’re moving, but we gotta keep pushing. Read more
And there was a caught…
The Ghana Immigration Service (GIS) just busted a Chinese guy and his Ghanaian sidekick at the Paga border. These guys thought they could just waltz in with a bunch of weapons.
These GIS officers were like, "Oh no, honey! Not on our watch!" They even went on X (formerly Twitter) to brag about it – and rightly so! They said, "The vigilance of our Immigration Officers at the Paga Border Post has led to the interception and arrest of a Chinese national and his Ghanaian accomplice." They even took a picture of them holding their bullet babies for us to see.
Wahala for who wey dey smuggle gun by this time, GIS is definitely on high alert. Read more
Did you hear the latest about the Cedi?
Fitch Solutions is giving us some good news! They’re predicting that the Ghanaian cedi is going to bounce back against the dollar in the coming months.
Why? Well, investor confidence is up, dollar inflows are increasing, and external conditions are easing up a bit. Fitch dropped an article called “Sub-Saharan Africa Currency Round-Up: Greater Stability Ahead in Second Half of 2024,” saying things are looking brighter for Sub-Saharan African currencies.
The cedi's been struggling, losing about 20% of its value against the US dollar this year. That's rough, but there are signs of a comeback. Economic recovery is picking up speed, with GDP growth rising and boosting demand for foreign exchange.
Even though Ghana’s international reserves are still low, covering just 2.5 months of imports as of March, there's hope. IMF agreements and better investor sentiment from debt restructuring are expected to help out.
Fitch is projecting that the cedi will regain around 9% of its value by the end of the year. Plus, Ghana just struck a deal to restructure $13 billion in external debt, which should wrap up by September. This restructuring is expected to boost investor confidence and bring more capital into the country, putting positive pressure on the cedi. Read more
Domelevo is leading praises…not the church kind
Domelevo, our ex-Auditor-General, just gave mad props to Organised Labour for blocking SSNIT from selling off 60% shares in some fancy hotels.
So, Domelevo was on TV saying, "Big ups to Organised Labour for standing their ground. If you're handling my business, at least keep me in the loop." Transparency is the vibe.
The real MVP here is MP Samuel Okudzeto Ablakwa, who blew the whistle on this whole scheme.
Domelevo’s like, "They almost sold our stuff to a cabinet minister! What kinda conflict of interest is that?
Domelevo dragged CHRAJ too, saying they’re taking forever with their investigation. "Justice delayed is justice denied," he said. Read more
QUICK BYTE
Traders are feeling the heat as Ghana's cocoa supply falters, risking losses of over $1 billion! Is your chocolate bar about to melt? Find out in this scoop
Akufo-Addo just confirmed it — Suame Interchange is hitting the fast track! Phase 1 to finish by end of 2024.
Kuami Eugene, the Rockstar himself, has finally spilled the beans on what really went down the day of his accident. He said…see more
Cement, cartels, and competition: CUTS fears Ghana's cement market may shrink from fourteen players to a duopoly or even a monopoly. Why? Click here
Stefflon Don declares Burna Boy is still the love of her life and see more
FUN FACT OF THE DAY
We all know that feeling when you’re trying to do some research then boom! —pop-up ads everywhere. 😠😠😡😡
So Ethan Zuckerman, the guy who invented pop-up ads, actually wrote a long apology letter in 2014. Yeah, turns out he didn't mean to unleash that annoying internet phenomenon. Back in the '90s, he was just trying to make some ad money. 🤐
Chale, if you’ve been gearing up to fight every time these ads pop-up, remember the apology. 😂😂
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