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Dr. Sekou Nkrumah isn’t vibing with Prez Akufo-Addo’s claim that Ghana wasn’t founded by his dad alone. Sekou says his pops was the man of the people, rallying Ghanaians and creating a mass movement. Read how it’s going down in the Deep Dive section.
Chief Justice, Her Ladyship Gertrude Torkonoo just opened 12 brand-new courts dedicated to small claims and debt recovery.
Why, you ask? Well, it turns out there’s been a tsunami of small claims cases flooding our district courts, thanks largely to a single company—Bills MicroCredit. Justice Esaaba Torkonoo spilled the tea at the grand opening, revealing that over 70% of these cases are for claims under GHC 5,000. It’s like having a horde of ants swarming a sugar cube!
Eight of these courts are strategically planted in the bustling Greater Accra Region, while four more are making waves in the Ashanti Region.
These courts are not your regular 9-to-5. They’re hustling every afternoon on weekdays and even on Saturdays. In the Greater Accra Region, the District Courts at Ashaiman, Teshie, Kasoa, and La are our Saturday warriors. Meanwhile, Weija, Sowutuom, Adenta, and Gbese courts work on weekday afternoons. Read more
The Bank of Ghana (BoG) has unleashed sanctions on a staggering 47 individuals and 245 business entities for their persistent habit of issuing dud cheques. These people kept playing the cheques game like it was Monopoly money. Want the deets in full? Check out the Deep Dive section.
Fitch Solutions says that a potential Trump presidency in 2025 could make the US dollar stronger, putting pressure on the Cedi. This might force Ghana’s BoG to tighten up its monetary policies to keep the Cedi from sinking.
The Cedi is already struggling, down 19.6% this year. If Trump’s policies pump up the dollar, Ghana might face even more financial turbulence. But don’t lose hope—there might be a rate cut in November to help out. Check out the Deep Dive section for more gist.
You’re a celebrated artist, belting out hits that have fans grooving from Tamale to Accra. Your music is everywhere—on the radio, at parties, even in trotros! Naturally, you’d expect a tidy sum in royalties, right? Well, not if you’re Fancy Gadam. The afrobeat star recently received a royalty payment from the Ghana Music Rights Organization (GHAMRO) that left him fuming—a mere GH₵374! That money cant’ even take you to Tamale and back from Accra!
Fancy Gadam couldn’t hold back his frustration. "GHAMRO doesn’t take artistes seriously!" he raged, probably imagining how many ways he could have better spent his time than chasing royalties. Read more
Since January 2023, School of Hygiene trainee allowances haven’t seen the light of day. And now, the Coalition of Students of the School of Hygiene is at their wit’s end, threatening to hit the streets in a massive demonstration if their unpaid allowances aren’t sorted out pronto.
Emmanuel Awuku, the Coalition’s General Secretary, didn’t mince words. The students learned that the delay is due to a lack of financial clearance from the Ministry of Finance. Talk about bureaucracy at its finest (or they don’t have the money?🤐🤐)!
For the 2021 certificate batch from the Ho School of Hygiene, the situation is even more dire. They’ve completed their training and still haven’t seen a single cedi.
The trainees are ready to march to the presidency and the Ministry of Sanitation and Water Resources if their demands are not met. These seems like the year of strikes and protests tbh. Read more
The Anlo Beach Community in the Shama District is having the worst beach party ever. Instead of sun and sand, they've got tidal waves crashing their homes like uninvited guests at a house party. Yep, these waves have been relentless, turning over 500 houses into Atlantis replicas.
So, there’s this guy who chatted with Channel One News saying, "Yo, my fam and I are couch-surfing at my brother’s place 'cause our crib got totally wrecked. My wife had enough and bounced to Kumasi. We’re begging the government, like, 'Help us out with a place to crash and maybe throw in a sea wall for good measure!'”
And then there's Samuel Borlu, the Assembly member letting us know these waves have been messing with them since the '90s, but 2017-2018 was the ultimate smackdown. Around 500 houses got wiped out in just one year! Thier fishing game is busted! They can’t even throw our nets without them getting washed away. Read more
Anlo Afiadenyigba is in deep trouble. The town’s sanitation crisis has reached epic proportions, with trash everywhere. Torgbui Kadzahlo Drabese IV, the Paramount Chief has had enough. He’s like, “Our beautiful town, now looking like the back alley of a fast-food joint. This isn’t just a health risk; it’s ruining our rep! We need to get our act together, ASAP!” And Gabriel Kwabla Kuatsikor, the Assembly Member, is backing him with, “We need serious help and a major attitude shift about trash.”
The town’s leaders are calling for everyone to pitch in, from the government to local residents. They need more bins, regular pickups, and proper waste management, pronto. Plus, they’re planning clean-up events and educational programs to get everyone on the same page. Read more
DEEP DIVE
My Daddy Founded Ghana, You Hear?
The debate over Ghana’s founding father is spicing up like a hot bowl of aponkye nkakra. Dr. Sekou Nkrumah, son of the OG himself, Dr. Kwame Nkrumah, is not having it with President Akufo-Addo’s recent statement. According to Akufo-Addo, Ghana wasn't founded by just one man, saying the struggle was a group project, not a solo mission. Sekou’s like, “Nah, give my dad his props!
Sekou says his dad was more than a solo act. He represented the vibe of millions of Ghanaians, a grassroots kingpin if you will.
Sekou points out that UGCC was like that popular local band, great in their neighborhood but not enough to fill a stadium. The United Gold Coast Convention (UGCC) pulled in Nkrumah because they needed a heavy hitter. Nkrumah was the headliner that turned the struggle into a nationwide tour. And when Nkrumah split and started his own party, the CPP, it was like Beyoncé going solo from Destiny's Child. He won the 1951 and 1956 elections in a landslide, proving he had the people's hearts.
“My old man wasn’t just a solo act; he was a movement, and that’s on period”
Sekou thinks Akufo-Addo is caught up in his feelings and dragging up old beefs when we should be celebrating the hustle that got us here. Read more
It’s Game Over for Dud Cheques
It’s game over for those who thought they could cheat the system. BoG has put its foot down, and it’s not just a slap on the wrist. It’s a full-blown “No Cheques Allowed” sign for those who can’t play by the rules.
From January 2022 to January 2024, these culprits managed to drop dud cheques not once, but at least three times, despite being warned about the repercussions. It’s like ignoring a red light and then wondering why you’re getting a ticket—oops!
The BoG’s new decree, effective from June 28, 2024, is pretty straightforward. These offenders are now officially banned from issuing cheques for the next three years. And don’t even think about trying to sneak in new credit facilities during this period.
Additionally, banks and Specialised Deposit-Taking Institutions (SDIs) are on high alert. They’ve been instructed to recall all chequebooks from these offenders and to keep a tight grip on issuing any new ones.
BoG is also sounding a stern warning to the public: stop with the dud cheques or face both legal and regulatory wrath. They’re keeping a sharp eye on the payment system.
The bank's message is clear: “Play by the rules or get benched.” Read more
Wahala for the Cedi if Trump Returns
According to Fitch Solutions, the arrival of Trump Part Deux in the White House could strengthen the US dollar, which spells trouble for the Cedi and other emerging market currencies.
So, why would Trump’s comeback make the dollar flex its muscles? If Trump’s policies boost the US economy and attract capital flows like a magnet, the dollar’s value could soar. And guess who will be left dealing with the aftermath? Yep, the Cedi. The Bank of Ghana (BoG) might have to play hardball, adopting stricter monetary policies to keep the Cedi from sinking further.
As of July 19, 2024, the Cedi was trading at 14.7811 to the dollar. The currency has depreciated by a whopping 19.6% this year alone. If Trump’s policies push the dollar higher, the Cedi might feel like it's on a rollercoaster ride without a seatbelt.
Fitch Solutions also forecasts that while Ghana’s debt restructuring might provide a glimmer of hope, the Cedi could still face significant pressure if negotiations drag on. Imagine trying to fix a leaky boat while the storm keeps raging—it’s not exactly a relaxing time.
Remember Fitch also predicts a possible cut in the BoG’s policy rate later this year, which might give the Cedi a bit of breathing room. So it’s not all gloom and doom, we guess. Read more
FACT OF THE DAY
If you dread stumbling upon words longer than a shopping list, you might just have Hippopotomonstrosesquippedaliophobia – the fear of long words. It's as if the linguists got together and said, 'Let’s make this as ironic as possible!
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