CJA kicks against sale of ADB to Stanbic

The Committee for Joint Action (CJA) has become the latest group to kick against the request of Stanbic Bank of South Africa to buy the shares of Bank of Ghana in Agricultural Development Bank (ADB).The CJA, a pressure group made up of opposition parties, said: "The CJA is convinced that the grounds for off-loading the shares of ADB are clearly unacceptable. The process is not transparent and could lend itself to fraudulent manipulation by corrupt officials."Staff of ADB, TUC, Socialist Forum of Ghana and various individuals and organisations have voiced their opposition to off-loading the Central Bank's 48 per cent shares in ADB to Stanbic Bank.CJA said in a statement released in Accra on Thursday that, the main rationale for the deal was contained in recommendations from the World Bank and International Monetary Fund (IMF), which argued that the fact that the Central Bank, being a regulator of banking, was a shareholder in ADB created a conflict of interest situation. "As a result of this blatantly absurd position, the World Bank and IMF are pressuring the Government of Ghana to off-load the Central Bank's share in the ADB."However, CJA said it saw no conflict of interest in the Bank of Ghana (BOG) owning a little over 48 per cent shares in ADB pointing out that BOG had set up an independent trust to manage its equity. The CJA also pointed out that ADB was doing "fairly well", moving to the fourth largest bank in Ghana with net assets of more than 700 million dollars.It said ADB's involvement in Western Union Money Transfer accounted for between 300 and 400 million per annum, while it had also acquired 10 per cent equity in Ghana International Bank and a significant equity in agricultural enterprises."The fact that agriculture, which accounts for 45 per cent of GDP, only receives six per cent of total bank lending is a pointer to a serious policy failure in the management of the sector. It is a matter that requires urgent national attention. That is a job for the Government and not the ADB."CJA said there was no guarantee that Stanbic would continue to maintain all the strategic branches of ADB and focus on agriculture if it was allowed to take hold of ADB.It asked Stanbic to expand its operations into agriculture, if its interest in the sector was genuine, or establish its own agricultural bank without having to take over the assets of ADB.
Source:GNA

PV Obeng denies ever taking bribe from SCANCOM

Mr P.V. Obeng, a former top advisor under the Provisional Defence Council (PNDC) and National Democratic Congress (NDC) administrations, on Friday de nied claims that he took bribes from Norwegian cement giant, SCANCEM."I know nothing of the alleged payments whatsoever and certainly nothing about the alleged Bank accounts in Switzerland or elsewhere," he said in a statement emailed to GNA from London."I wish to state here and now quite categorically that I have never ever made any admissions or any statements, to any person, in whatever shape or form which can even be remotely interpreted as an admission of receipts of any sums of money as consultancy payments from SCANCEM whilst in public office."Indeed I could not have made any admissions to matters which simply did not happen."An official of the Company who is in court in Norway for embezzlement has said he paid bribes into two separate accounts allegedly owned by Mr Obeng and former First Lady, Nana Konadu Agyeman-Rawlings. Nana Konadu has also dismissed the allegations. Giving his side of the story he said he received and completed a questionnaire for a Norwegian newspaper and then received a phone call whilst in London from a journalist in Ghana."In the very brief conversation the reporter sought to know if I knew about a court case in Norway involving Mr. Tor Kjelsaas and his former employers, Scancem."The very poor connection did not allow for any lengthy conversation, which was in any case terminated when the line got cut off. It appears my simple reply to his queries is now what has been twisted or misinterpreted as my alleged admission to the receipt of millions of dollars for consultancy payments."Mr. Obeng said his Company did some consulting work for the Norwegian company SCANCEM after he left public office in December 1996 and had been paid for its services.He said he registered his consultancy company in the middle of 1997 after leaving public office in December 1996, and began a search for clients.He said in 1998 his consultancy firm was retained by four companies; two from Norway one from the United Kingdom and the other from the United States of America"One of the Norwegian companies was SCANCEM with whom my company entered into a retainer agreement which began in mid 1998 and expired in December, 2006."The monthly retainer fees paid by the company was exceedingly low even by local standards but we continued to work for them with the view of building the necessary foundation for the company and to build a good corporate profile." Mr Obeng said he did not work as a consultant for SCANCEM and SCANCEM never engaged him to work for them in any manner while in public office."Indeed I can emphatically say that during my long stay in pubic office I did not accept to serve on boards of companies, whether public or private, foreign or local because I am acutely aware of the conflict of interest situations I might be placed in. It obviously will defy logic to place myself in such a position in relation to SCANCEM".He said he had referred the matter to his solicitors "with firm instructions to take immediate, necessary and prudential steps to redeem the damage done to my image and reputation and certainly to assert the true state of affairs and specifically to circulate this matter to the Ghanaian Press".
Source:GNA

Parliament approves nominations of 12 Ministers

Parliament on Friday approved the nomination of Mr Akwasi Osei Adjei as Minister of Foreign Affairs, Regional Integration and NEPAD and Mrs Oboshie Sai-Cofie as Minister of Information and National Orientation.The House also approved the nominations of 10 newly appointed ministers after the Appointments Committee of Parliament presented its report to the House after vetting the nominees.The Ministers are: Mr Ben Aggrey Ntim, Minister of Communications, Nana Akomea, Minister of Manpower, Youth and Employment and Mr Joe Baidoo-Ansah, Minister of Trade, Industry, Private Sector Development and President's Special Initiative.Others are: Mr Samuel Owusu-Agyei, Minister of State in- Charge of Public Sector Reforms, Dr Anthony Akoto Osei, Minister of State at the Ministry of Finance and Economic Planning, Nana Obiri Boahene, Minister of State at the Ministry of Interior and Ms Cecilia Dapaah, Minister of State at the Ministry of Water Resources, Works and Housing. The rest are: Mr George Benson, Upper West Regional Minister, Mr Kwadwo Affram Asiedu, Eastern Regional Minister and Mr Alhassan Samari, Upper East Regional Minister.The House later approved an increase in the District Assemblies' Common Fund from the current five per cent to 7.5 of the total national revenue. It takes effect from January 1, 2008.Increasing demands on the assemblies by government institutions such as the Police Service, the creation of new districts and the implementation of the National Youth Employment Programme are some reasons for the upward adjustment of Fund.Members of Parliament called for effective monitoring and oversight responsibility over the Assemblies to ensure the proper utilization of monies sent them.They said the monitoring role of Members and auditing by the appropriate agencies must be strengthened.Meanwhile, the House is expected to rise next week Tuesday after an address by former UN Secretary-General, Busumuru Kofi Annan, at a special meeting to be held in his honour.
Source:GNA

Legon Lecturers Have no Place to Sleep?

The acute accommodation problem at the University of Ghana, Legon, has compelled some lecturers to live in boys' quarters.
Professor Kwesi Yankah, Pro-Vice-Chancellor of the University, said this on Thursday at a ceremony to formally hand over 11 bungalows at Kisseman in Accra acquired from the defunct Ghana Airways.
Professor Yankah said out of about 800 lecturers, the University had been able to accommodate only 330, adding that the rest were still living with friends and families with some facing possible ejection from their landlords.
He said the concerns showed by the public on accommodation problems of students must equally be demonstrated in the plight of lecturers' accommodation to help boost their morale in the discharge of their duties.
Professor Yankah said the acquisitions of the bungalows were some of the steps taken by the University towards alleviating lecturers' accommodation problems on campus to enhance service delivery.
He said the ability of the University to attract young lecturers to replace the ageing ones was dependent on the provision of decent housing units for them and thanked government for its support towards the acquisition of the bungalows.
In a related development, a delegation from the World Assembly of Muslim Youth (WAMY) in Saudi Arabia, paid a courtesy call on the Pro-Vice-Chancellor to look at the possibility of areas of cooperation with the University.
Professor Khalid Alujaimi, leader of the delegation, said WAMY had offered to sponsor three students to the doctorate level to any University in the world to enhance the study and teaching of Arabic. Professor Alujaimi said WAMY had already signed a Memorandum of Understanding with over 20 universities in Africa.He added that any cooperation with UG would help afford its students to interact with other sister-universities on the continent and beyond to sharpen their Arabic skills.
Source:GNA