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LeBron James has broken the NBA’s all-time scoring record.

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LeBron James has surpassed Kareem Abdul-39-year-old Jabbar’s record to become the NBA’s all-time leading scorer.

James, 38, of the Los Angeles Lakers, scored 38 points in a 133-130 loss to the Oklahoma City Thunder to break Abdul-record Jabbar’s of 38,387.

Abdul-Jabbar first set the record in April 1984, eight months before James was born.

“It means so much to me to be in the presence of a legend and great like Kareem,” James said.

James broke the record with a fadeaway jumper at the end of the third quarter, and he finished the game with a career total of 38,390.

An emotional James raised both arms in celebration, while Abdul-Jabbar, 75, was present at the game.

There was a brief break in play for a ceremony to mark the achievement, with James taking a microphone to make a speech on court.

“Everybody that has ever been a part of this run with me the last 20-plus years, I want to say thank you so much because I wouldn’t be me without all you. You all helped. Your passion and sacrifices helped me to get to this point,” he said.

“And to the NBA to Adam Silver, to the late great David Stern, thank you very much for allowing me to be a part of something I always dreamed about. I would never in a million years dreamt this to be even better than what it is tonight.”

Abdul-Jabbar ceremoniously handed over the ball to James to recognise his new record in front of a cheering crowd that included tennis legend John McEnroe, music stars Jay-Z, LL Cool J and Bad Bunny, boxer Floyd Mayweather Jr and actor Denzel Washington.

“I thought it had every chance of being broken. It just had to have someone that the offense focused on continually,” said Abdul-Jabbar, who retired in 1989.

“LeBron’s career is one of someone who planned to dominate this game. You have to give him credit for just the way he played and for the way he’s lasted and dominated.”

Four-time NBA champion James is in his 20th season in the NBA, having been drafted first overall by hometown team the Cleveland Cavaliers in 2003.

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The forward joined the Miami Heat in 2010, winning two titles, before returning to lead Cleveland to the only NBA title in their history in 2016.

He has been with the Lakers since 2018 and helped them win the 2020 title, which was also the fourth time he has been named NBA finals MVP.

Two-time Olympic champion James has won four regular season MVP titles and appeared in the NBA Finals 10 times.

Abdul-Jabbar played in the NBA for 20 seasons with the Milwaukee Bucks and Lakers, during which he won six titles, six regular season MVP crowns and was named finals MVP twice.

Asked after the game whether he is the best NBA player of all time, James said: “I’ll let everybody else decide who that is or just talk about it, but it’s great barbershop talk.

“Me personally, I’m going to take myself against anybody who’s ever played this game. But everyone’s going to decide who their favourite is.”

NBA’s all-time scoring list
PlayerPtsPlayedMinutesPts/game
LeBron James38,3901,41053,74127.2
Kareem Abdul-Jabbar38,3871,56057,44624.6
Karl Malone36,9281,47654,85225.0
Kobe Bryant33,6431,34648,64325.0
Michael Jordan32,2921,07241,01030.1
Dirk Nowitzki31,5601,52251,36720.7
Wilt Chamberlain31,4191,04547,85930.1
Shaquille O’Neal28,5961,20741,91723.7
Carmelo Anthony28,2891,26043,51322.5
Moses Malone27,4091,32945,07120.6

James holds the records as the youngest player to reach every significant points tally from 5,000 to 35,000.

He passed six-time NBA champion Michael Jordan into fourth overall in March 2019 and late Lakers great Kobe Bryant to move into third all-time in January 2020.

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James then surpassed Karl Malone into second overall in March last year, a month after he beat Abdul-Jabbar’s record for the most combined regular season and play-off points. The NBA’s official all-time scoring list only takes into account regular season points.

James, a 19-time All-Star, scored 23,119 points in 849 games for the Cavaliers during 11 seasons across two spells.

He scored 7,919 points for the Heat in 294 games over four seasons and now has 7,314 points in 266 games over five seasons for the Lakers.

James is also in the top-10 all-time lists for assists, steals, defensive rebounds, field goals made and three-pointers made.

National Cathedral: Listen to the concerns, says Siisi Baidoo to the government

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Gospel musician Siisi Baidoo has urged the government to halt construction of the national cathedral, even if only for a short time, in order to hold a broader consultation with all relevant stakeholders and gain their support.

“I believe there are several perspectives. I just think we should look at it from all angles and take everything into account, rather than just one. “The government should listen and incorporate what everyone says,” he advised.

The gospel hitmaker Onyame Tumfo, who was a special guest at the unveiling of 3FM 92.7’s new studio, and Johnnie Hughes, the new host of the 3FM Sunrise Morning Show, shared the news.

“I think everybody has a point. We need a national cathedral because there is a spiritual angle to the national cathedral and there is a huge blessing for anybody that puts a hand on to build a temple for God. I mean for that aspect there is a huge blessing” he stated

“As I said, also there are other angles to it such as how the monies are being channeled, how they are being raised and the accountability aspect of it, thus, people being honest about it are very important for considerations” Siisi Baidoo

President Akufo Addo revealed to Ghanaians that he made a solemn pledge to God to build him a cathedral if he becomes the president of Ghana. Ghanaians have been divided on the appropriateness of the national cathedral since the public pronouncement and subsequent commencement of the project.

The project has halted for several months and has been bedeviled with scandals that undermine the essence and piety of such a project intended to honor God and unite the people. However, President Nana Addo Dankwa Akufo-Addo has maintained that he is determined to construct the National Cathedral despite the criticisms and or hindrances.

Pope Francis will make a historic visit to the Democratic Republic of the Congo.

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On Tuesday, Pope Francis is expected to arrive in the Democratic Republic of the Congo, home to Africa’s largest Roman Catholic community, for a three-day visit.

It has been more than 37 years since the previous Pope, John Paul II, visited the country, which was then known as Zaire.

The country’s authorities have declared Wednesday a public holiday in Kinshasa, the capital, to allow Catholics to attend a mass led by Pope Francis at Ndolo Airport.

Pope Francis has requested prayers for his upcoming journey.

 

The pontiff will stay in Kinshasa until Friday before travelling to South Sudan’s capital, Juba, where he will be joined by his Anglican counterpart, the Archbishop of Canterbury and by the Church of Scotland Moderator.

However, there has been some controversy surrounding the Catholic leader’s visit to Kinshasa.

Some market workers in the city have been told to dismantle their stalls to make roads tidy before the pope’s arrival. This has left some people feeling aggrieved.

 

Governor Addison proposes measures to assist banks in dealing with the effects of debt exchange.

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Dr Ernest Addison, Governor of the Bank of Ghana (BoG), has outlined measures taken by the central bank to assist domestic banks in dealing with the impact of the domestic debt exchange programme on their operations.

This came after the BoG conducted a stress test for the banks prior to the program’s launch.

Some have expressed concern that the debt exchange will weaken domestic banks.

For example, in a letter to Addison on the Domestic Debt Exchange Programme, Bawku Central Member of Parliament Mahama Ayariga stated that banks will face capitalization and liquidity problems if they do not receive timely and appropriate coupon payments from their bondholders.

Mr Mahama Ayariga said “I contend that the Domestic Debt Exchange Programme will emasculate domestic private banks, as they will face capitalization and liquidity problems given that they will not receive timely and appropriate coupon payments from their bond holder (Government of Ghana).

“I also contend that the directive of the Minister of Finance, to those banks he has so
emasculated, to approach the Ghana Amalgamated Trust Plc (GAT) for support from the Ghana Financial Stability Fund (GFSF) opens them up to a takeover by investors in the GAT, if the Ghana Financial Stability Fund is not wholly publicly funded.

The Governor (1)

“I further contend that political patronage and nepotism will inform the ultimate purchase of the shares in the private banks once GAT begins to dispose off these shares to realize the investments made in those banks (if GAT is not publicly funded).

“I conclude that the policy and strategic options chosen by the Finance Minister enable the
illegal and unconstitutional expropriation of the private property of the present owners of
domestic private banks and, possibly, private international banks operating in Ghana.”

But answering questions at the 110th Monetary Policy Committee (MPC) press conference in Accra on Monday, January 30, Dr Addison stated that “Yes, the stress test on the ability of the 23 or so banks to withstand the impact of the debt exchange, we did see the numbers, the implications for liquidity and the implications for capital.

“On the basis of that exercise, the BoG came out with high regulatory reliefs which we thought will help them deal with the impact on liquidity and capital. We agreed to reduce the cash reserves ratio from 14 per cent to 12 per cent on domestic currency deposits and reduce cash reserve ratio from 13 to 12 percent on foreign currency deposits. These measures give liquidity back to the banks, they address the issue of the impact of liquidity.

“We also dealt with the issue of capital by reducing the capital conservation buffer by 3 per cent, and capital adequacy ratio was reduced from  13 to 10 per cent. Even some of the technicalities surrounding the debt exchange in terms of derecognition losses, we agreed to have them restore its impact on capital over a four-year period.

“So there are a lot of things that the Bank of Ghana has agreed to do to help the banks deal with the implications of the domestic debt exchange on capital and liquidity.”

The Government and the Ghana Association of Bankers (GAB) reached an agreement on the new terms for the Domestic Debt Exchange programme.

Earlier, the banks rejected the programme as announced by the government.

The GAB directed commercial banks not to sign onto the amended debt exchange offer over uncertainty surrounding the impact of the debt restructuring on the banking industry.

The association wants its concerns addressed before accepting the debt exchange offer, according to a letter sent to managing directors of banks and seen by 3Business. GAB told member banks that may want to consider the debt exchange in its current form to formally inform the association first before doing so.

“…From the uncertainty surrounding the programme, GAB recommends that all banks must stay any further movement on the exchange until our demands have been met. However, in the event that a bank may have to move forward to exchange, the MD/CEO must inform the CEO of GAB directly of the decision,” according to the letter sent to the banks.”

However, after an engagement with the Ministry of Finance, the Association of Banks that per the new terms, the participation of member banks is subjected to individual bank’s internal governance and approval processes.

Government reaches agreement with banks on new terms for debt exchange programme

“This is a significant milestone towards addressing our economic challenges, and will thus help to restore macro-economic stability and accelerate Ghana’s economic growth.

“With this achievement, the Government of Ghana reiterates its commitment to concluding the DDEP in time with all other stakeholders,” a joint statement from the Finance Ministry and GAB noted.

The deadline for all to voluntarily sign up for the Programme was for the third time extended on Monday, January 16 to today.

The decision was to allow the government to further engage with bondholders.

Within the period, agreements were reached with the Ghana Association of Banks (GAB), the Ghana Insurers Association (GIA) and the Ghana Securities Industry Association (GSIA).

The government had initially extended subscription to the Programme from Friday, December 30, 2022 to Monday, January 16, picking the following day as Announcement Date.

Per that schedule, Tuesday, January 24 was slated for settlement of invitations.

With Tuesday, January 31 as the latest deadline, it is expected that Wednesday, February 1 will be the Announcement Date.

 

 

Debt exchange will harm domestic private banks, writes Mahama Ayariga to BoG Boss.

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Mahama Ayariga, Member of Parliament for Bawku Central, has written a letter to Dr Ernest Addison, Governor of the Bank of Ghana (BoG), regarding the Domestic Debt Exchange Programme.

According to Mahama Ayariag, banks will face capitalization and liquidity issues if they do not receive timely and appropriate coupon payments from their bondholders.

The Ghana Association of Bankers (GAB) and the government reached an agreement on new terms for the Domestic Debt Exchange programme.

Previously, banks had rejected the government’s announced programme.

The GAB directed commercial banks not to sign on to the amended debt exchange offer due to uncertainty about the debt restructuring’s impact on the banking industry.

The association wants its concerns addressed before accepting the debt exchange offer, according to a letter sent to managing directors of banks and seen by 3Business. GAB told member banks that may want to consider the debt exchange in its current form to formally inform the association first before doing so.

“…From the uncertainty surrounding the programme, GAB recommends that all banks must stay any further movement on the exchange until our demands have been met. However, in the event that a bank may have to move forward to exchange, the MD/CEO must inform the CEO of GAB directly of the decision,” according to the letter sent to the banks.”

However, after an engagement with the Ministry of Finance, the Association of Banks that per the new terms, the participation of member banks is subjected to individual bank’s internal governance and approval processes.

Government reaches agreement with banks on new terms for debt exchange programme

“This is a significant milestone towards addressing our economic challenges, and will thus help to restore macro-economic stability and accelerate Ghana’s economic growth.

“With this achievement, the Government of Ghana reiterates its commitment to concluding the DDEP in time with all other stakeholders,” a joint statement from the Finance Ministry and GAB noted.

In his letter to the Governeor of the BoG, Mr Mahama Ayariga said “I contend that the Domestic Debt Exchange Programme will emasculate domestic private banks, as they will face capitalization and liquidity problems given that they will not receive timely and appropriate coupon payments from their bond holder (Government of Ghana).

“I also contend that the directive of the Minister of Finance, to those banks he has so
emasculated, to approach the Ghana Amalgamated Trust Plc (GAT) for support from the Ghana Financial Stability Fund (GFSF) opens them up to a takeover by investors in the GAT, if the Ghana Financial Stability Fund is not wholly publicly funded.

The Governor (1)

“I further contend that political patronage and nepotism will inform the ultimate purchase of the shares in the private banks once GAT begins to dispose off these shares to realize the investments made in those banks (if GAT is not publicly funded).

“I conclude that the policy and strategic options chosen by the Finance Minister enable the
illegal and unconstitutional expropriation of the private property of the present owners of
domestic private banks and, possibly, private international banks operating in Ghana.”

 

 

 

The Bank of Ghana has committed to the FinTech agenda – Addison

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Dr Ernest Addison, Governor of the Bank of Ghana (BoG), has assured the general public that the central bank is committed to the FinTech agenda and has demonstrated this by creating a conducive regulatory environment for FinTechs to thrive.

He stated that the Payment Service Provider Guidelines for Inward Remittance have enabled FinTechs to facilitate inward remittances across the country in a cost-effective and efficient manner.

Similarly, he stated that the New Merchant Account Categories Notice encourages payment solutions for MSMEs.

Furthermore, the Bank of Ghana’s Regulatory Sandbox provides a welcoming environment for the testing of products, solutions, and business models with the potential to expand financial inclusion, according to Dr. Addison.

“FinTechs are encouraged to avail themselves of the cohort announcement to pilot their innovations,” he said in his remarks at the Ghana Fintech Awards 2022 on Monday, January 30.

“Besides these measures, the Bank is keen on the issuance of a digital version of the Ghanaian cedi, and it is currently analysing the pilot data to map up strategy for the next steps of the eCedi project.

“This is part of the Bank’s agenda to promote innovative and affordable digital financial services as a means of expanding financial inclusion and encouraging the use of digital payment as an alternative to cash.

“In addition, the eCedi is designed to enhance operational efficiency and cost-effectiveness in payments, and provide a safe, secure, and trustworthy alternative to privately issued digital currencies,” he added.

The Bank of Ghana will continue to work with FinTechs to ensure that financial services are provided to all Ghanaians, regardless of their income or location by encouraging and providing a conducive regulatory environment, Dr Addison further assured.

 

 

Individual bondholders are urged not to sign up for DDE before the deadline.

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The Ghana Individual Bondholders’ Forum (IBF) has advised members not to participate in the Domestic Debt Exchange Programme (DDE) if they want to maximise their investments and keep their “superior” old bonds.

This recommendation was made on the eve of the Program’s deadline.

No one will be punished for rejecting the Programme, according to a press release issued by one of the Forum’s convenors, Senyo Hosi.

“The law is on your side, and the Minister of Finance has been unequivocal in affirming your right by stating that he will honour obligations under the old bonds and will not take any action to punish individuals who reject the DDE,” he said on Monday, January 30.

However, according to the press release, that those compelled to support the Programme can sign up without hesitation.

The deadline for all to voluntarily sign up for the Programme was for the third time extended on Monday, January 16 to today.

The decision was to allow the government to further engage with bondholders.

Within the period, agreements were reached with the Ghana Association of Bankers (GAB) as well as Ghana Insurers Association.

The government had initially extended subscription to the Programme from Friday, December 30, 2022 to Monday, January 16, picking the following day as Announcement Date.

Per that schedule, Tuesday, January 24 was slated for settlement of invitations.

With Tuesday, January 31 as the latest deadline, it is expected that Wednesday, February 1 will be the Announcement Date.

Many critics have, however, predicted that there will be another extension as a result of agitations by the individual bondholders.

“People have planned their lives around the bonds that they hold and then suddenly, in the wee hours of 31st December, you sneak this one out and say that now, individual bondholders are part,” former Chairman of the Finance Committee of Parliament Dr Mark Assibey-Yeboah stated in an interview on TV3.

“Because we were all celebrating Christmas, we didn’t pay attention. This is my hard earned money and somebody is picking from it. You told me individual bondholders will not be part, why are you including individual bondholders? Have you engaged the individual bondholders? You haven’t. That is why I say the deadline will be extended again. The consultations we need, the hard decisions we need to take we are not taking them.”

 

 

Ghanaians urged to support quality healthcare

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Mr Kennedy Agyapong, Member of Parliament (MP) for Assin Central has called on Ghanaians to show interest and support the delivery of quality healthcare services to the people.

He said it was important that well-to-do individuals and corporate organizations provided the needed equipment and logistics to support government health facilities such as the Komfo Anokye Teaching Hospital (KATH) to deliver quality healthcare services to the people.

Mr Agyapong was speaking to journalists after inspecting a linear accelerator machine at the Oncology Unit of KATH, which he had paid an amount of $147,000.00 for its maintenance.

Linear Accelerator is an equipment used for the treatment of cancer conditions.

Mr Agyapong also used the occasion to donate 100 hospital beds and mattresses to the second largest referral facility in the country.

“I am personally interested in the issues of KATH; it is the duty of Ghanaians to direct attention to quality healthcare services.

I want to believe that this hospital serves about 12 regions in the country.

I am a witness to this because, in Assin Fosu, any emergency is referred to KATH, let us all help and upgrade it to a modern set up hospital,” he stated.

Mr Agyapong, who is seeking to become the flagbearer of the NPP for the 2024 general elections, used the occasion to appeal to the NPP delegates and Ghanaians to choose him as a candidate and the President of Ghana to ensure the speedy development and progress of the country.

Mr Agyapong who also toured the old blocks of the hospital, expressed worry at the conditions of the buildings and said the hospital was in a serious distress which called for help from all.

“We should all come together and not depend solely on the government to assist the Komfo Anokye Teaching Hospital.

I am going to be an ambassador for KATH and go round to tell the sad story and the needs of the hospital,” he pledged.

He called on the workers to keep the hospital environment neat and ensure good maintenance culture adding that, all should treat facilities and logistics as your own.

Professor Otchere Addai Mensah, Chief Executive Officer (CEO), KATH, said the hospital was in dire need of logistical support to smoothly run the facility.

He said as part of efforts to improve operations at the facility, managing had given opportunities to individuals and groups to adopt the old wards and help renovate and upgrade them to modern standards.

He pledged that the hospital despite all the constraints, would continue to work hard and render quality services to clients.

 

World NTDs Day: Ending NTDs needs sustainable funding

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The Ghana Health Service (GHS) has called for sustainable financing of interventions to end Neglected Tropical Diseases (NTDs).

At an event held in Accra on Monday to mark the celebration of the World Neglected Tropical Disease Day, Dr Anthony Adofo Fosu, Deputy Director General of the Service said lack of resources had been a significant barrier in  the control, elimination, and eradication of NTDs.

The challenge, he said had been intensified by COVID-19, which had caused severe delays and disruption to NTD programmes.

“Even today when the focus is on Universal Health Coverage, NTDs have very limited resources and are almost ignored by global funding agencies,” he said.

Dr. Fosu described NTDs as diseases of neglected populations that perpetuated a cycle of poor educational outcomes and limited professional opportunities, associated with stigma and social exclusion.

He said so far, 46 countries, including Ghana had eliminated an NTD, indicating that progress was possible.

Neglected Tropical Diseases (NTDs) include several parasitic viral, bacterial, fungal, and non-communicable diseases that cause substantial illness for more than one billion people globally.

NTDs are mainly prevalent in tropical areas, where they mostly affect impoverished communities and disproportionately affect women and children.

Many NTDs are vector-borne, have animal reservoirs and are associated with complex life cycles.

These diseases cause devastating health, social and economic consequences to more than one billion people.

NTDs are: Buruli ulcer, Chagas disease, dengue and chikungunya, dracunculiasis (Guinea-worm disease), echinococcosis, foodborne trematodiases, human African trypanosomiasis (sleeping sickness), leishmaniasis, leprosy (Hansen’s disease), lymphatic filariasis, mycetoma, chromoblastomycosis.

The rest are: deep mycoses, onchocerciasis (river blindness), rabies, scabies and other ectoparasites, schistosomiasis, soil-transmitted helminthiases, snakebite envenoming, taeniasis/cysticercosis, trachoma, and yaws and other endemic treponematoses.

The WHO country representative to Ghana, Dr Francis Kasolo lauded the country for eliminating Gamebiesi Human African Trypanosomiasis as a public health problem.

He applauded the leadership of WHO, the Government and all the NTD partners for the historic achievement.

Mr Kasolo called for intensified efforts to ensure universal access to treatment and care for all persons affected with NTDs and strengthened surveillance for disease earmarked for elimination.

He said NTDs had a considerable mortality rate of about 200,000 deaths and 19 million disability adjusted life years each year, which called for the need for increased resources.

He stressed the need for an improved health care services in an efficient health system with well-managed supply chain management for effective control and elimination of the NTDs.

Mr Kasolo encouraged the Interagency Country Coordinating Committee to continue advocacy and engagement with other sectors to address cross cutting issues in the elimination process.

He urged the government to allocate adequate resources to facilitate the elimination process.

 

Mammoth crowd welcome Alan Kyeremanteng to Kumasi

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Thousands of supporters of Mr Alan Kwadwo Kyeremanteng, a flagbearer hopeful of the New Patriotic Party (NPP), thronged the Kumasi Airport to welcome him to the Ashanti Region.

Alan Kyeremanteng visited the region on Monday to seek the blessings of the Asantehene and regional executive of the party on his political journey.

Clad in ‘Alan branded’ T-shirts and other NPP paraphernalia, the crowd waited amidst brass band music until the Africa World Airline, carrying the former Trade and Industry Minister and his entourage, touched down at exactly 1030 hours.

It was a charged atmosphere when Mr Kyeremanteng disembarked as the excited supporters touted his achievements.

They led his convoy to the Manhyia Palace, creating massive traffic on the Airport Roundabout-Manhyia stretch and giving the police a hectic time in controlling traffic.

Most motorists using that stretch had to look for alternative routes to get to their destination on time.

Mr Yaw Buaben Asamoah, Spokesperson, Alan Campaign Team, told the Ghana News Agency that Mr Kyeremanteng, being a native of the region, deemed it important to formally inform the King and the people of the Asante Kingdom of his intention to contest the flagbearer slot of the NPP and to seek their blessings.

 

 

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