Traders in Kumawu cashing in on by-election

 Traders at Kumawu in the Ashanti Region are cashing in on the ongoing by-election as they make good sales from the huge number of visitors in the town. 

 
Most of the traders, especially food and beverage vendors, could be seen making brisk business in the area.  
 
Madam Sarah Adwapa, a bottled and sachet water seller, told the Ghana News Agency that sales had increased in the last 24 hours as she had sold close to 80 packs and boxes of water by midday Tuesday. 

“In fact, this is my best sales in a very long time, I don’t even sell two packs or a box of water in a day!" she exclaimed. 

 
"Though the death of our dear MP is a great loss to the whole Constituency, my water business has been excellent."  
 
Bismark Opoku, an ice cream seller, was  also excited about the volume of sales he made even before noon.  
 
He was optimistic of making good sales by the close of the day without trekking to other nearby communities to sell, which is his daily routine.  
 

 Abena Serwaa, fried yam seller, said she started selling earlier than usual due to high patronage, an indication that she could make more profit.  

 

“Mostly people will come and buy from me after noon, but today before I could finish frying my fish, people were waiting for me to fry the yams. 

I am hoping the demand for fried yam sustains till the day ends," she said.  

 

Other vendors of soft drinks, toffees and biscuits admitted making good sales and expressed optimism that patronage would continue to increase to make some profit. 

GNA 

AerCap signs lease agreements with ASKY for two Boeing 737 Max Aircraft

 AerCap Holdings N.V. has signed lease agreements for two Boeing 737-8 MAX aircraft with ASKY, The Pan-African Airline, headquartered in Togo.  

A statement issued in Accra by the Airline said the aircraft were scheduled to be delivered in June through August 2023.   

It said in attendance at the signing ceremony were Mr Esayas W. Hailu, CEO of ASKY, Mr Aengus Kelly, the CEO of AerCap, Mr Girma Wake, the Board Chairman of Ethiopian Airlines Group and Aviation Advisor to Togo, Board members of ASKY, and other distinguished guests.    

“We are delighted to welcome ASKY as a new customer to AerCap and particularly pleased to place the first MAX in Togo,” Mr Kelly said.  

He said “AerCap is the largest lessor in Africa with 14 airline customers on the continent, and we are pleased to continue to support the growth and development of African aviation. We wish the ASKY team every success and look forward to working with them as these aircraft deliver.”  

 “I consider it an honour to introduce state-of-the-art B737-8 MAX aircraft into the ASKY fleet, which will support our wide regional network in our continuous endeavour to serve our esteemed customers,” Mr Hailu said.  

He said he was confident that the introduction of B737-8 MAX would further enhance ASKY’s brand image before the eyes of the traveling public and the airline felt great to be the region’s leading customer to AerCap, the world’s largest owners of commercial aircraft.  

GNA  

 

Organized Labour is interested in how IMF money will be applied – GFL

Mr. Abraham Koomson, Secretary-General of the Ghana Federation of Labour (GFL), has said Organized Labour, and all Ghanaians, are interested in how the Government will utilise the $3billion loan facility from the International Monetary Fund (IMF). 

 

Ghana received approval from the IMF for a three billion US dollar bailout last Wednesday, May 17th, and on Friday, May 19th, the first disbursement of 600 million dollars hit the accounts of the country, which was expected to be released in tranches. 

 

Mr. Koomson, reacting to the IMF Board approval, told the Ghana News Agency that workers were not much enthused about the approval but rather were interested in its application as that would influence them. 

 

He said they doubted whether the bailout would be beneficial to the public, as the conditionality attached to such bailouts often brought hardship rather than comfort to the people. 

 

"It won’t impact positively on the fortunes of workers; the hardships are going to worsen, and it will erode the gains that the unions have fought for over the years," he added. 

 

He stated, for instance, that the introduction of the three new excise duties, even though there were over 17 taxes companies were paying, was an indication of what lay ahead for companies and workers with approval. 

 

Mr. Koomson urged the economic management team of the Government to be forthright with the people on the conditionality and its implications instead of being evasive on the matter. 

 

Meanwhile, IMF Press Release No. 23/151, titled "IMF Executive Board Approves US$3 Billion Extended Credit Facility (ECF) Arrangement for Ghana," obtained by the Ghana News Agency in Tema, stated that the authorities’ economic programme, supported by the ECF-arrangement, builds on the government’s Post COVID-19 Programme for Economic Growth (PC-PEG). 

 

The PC-PEG aims to restore macroeconomic stability and debt sustainability and includes wide-ranging reforms to build resilience and lay the foundation for stronger and more inclusive growth. 

 

According to the IMF, large external shocks in recent years have exacerbated Ghana’s pre-existing fiscal and debt vulnerabilities, resulting in a loss of international market access, increasingly constrained domestic financing, and a reliance on monetary financing by the government. 

 

"Decreasing international reserves, Cedi depreciation, rising inflation, and plummeting domestic investor confidence eventually triggered an acute crisis.  

 

"The authorities have taken bold steps to tackle these deep challenges, including by accelerating fiscal adjustment.  

 

"The government has also launched a comprehensive debt restructuring to address severe financing constraints and the unsustainable public debt.  

 

"Securing timely debt restructuring agreements with external creditors will be essential for the successful implementation of the new ECF arrangement," the statement stated. 

 

Key policies under the authorities’ programme include large and frontloaded fiscal consolidation to bring public finances back on a sustainable path, complemented by efforts to protect the vulnerable. 

 

The adjustment effort will be supported by ambitious structural reforms in the areas of tax policy, revenue administration, and public financial management, as well as steps to address weaknesses in the energy and cocoa sectors. 

 

Appropriately tight monetary and exchange rate policies will help bring inflation back to single digits and rebuild international reserves. The programme also has a strong focus on preserving financial stability and encouraging private investment and growth. 

 

The programme would help Ghana overcome immediate policy and financing challenges, including through its catalytic effect in mobilizing external financing from development partners and providing a framework for the successful completion of the ongoing debt restructuring. 

 

Assin South NDC Parliamentary candidate to champion skills training and business dev’t

Mr Stephen Kofi Baidoo, the elected National Democratic Congress (NDC) Parliamentary Candidate for the Assin South Constituency, has pledged to champion skills training and business development for the youth.

He said he would champion the free enrolment of the youth into apprenticeship for skills and vocation training as the centre of his leadership to ensure the creation of wealth to reduce poverty in the area. 

“I believe that regardless of the background, all youth should be provided the opportunity to reach their full potential through a well-developed and coordinated education and skills training to address their needs and aspirations.

“This is because youth employment issues are a major concern, since they affect the welfare of young people and potentially the long-term performance and stability of every economy,” Mr. Baidoo said in an interview with the Ghana News Agency.

The youth, he said, would also be assisted with training tools and business support mechanisms to grow and expand to employ more.

Whilst commending the party and delegates for reposing confidence in him, he called on the rank and file of the party to bury their differences before, during and after the parliamentary primary.

He vowed to go all out to resolve any upheavals in the party as soon as possible to present a united front in the 2024 polls.

The political exigencies in the constituency, according to him, required a collective effort underpinned by party peace and cohesion to snatch the seat from the New Patriotic Party (NPP).

To him: “The nearly two decades of political dominance by the NPP in the area has nurtured poverty and deprived the people of basic infrastructure to improve their standard of living.

“Therefore, I have come with a plethora of well-thought-out workable solutions to emancipate the people from the myriad of challenges born out of NPP’s incompetent leadership.” 

For the party, he reminded the teaming supporters to remain focus as it galvanizes massive grassroots support for a landslide electoral victory in the 2024 polls. 

He stated that considering the tremendous work the NDC was doing towards attracting more floating voters as well as members of other political parties to their fold, he was confident the party would form the next government of the day.

GNA