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Alvarez discusses his biggest surprise regarding Haaland at Man City.

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Julian Alvarez is enjoying working with Erling Haaland at Manchester City and has revealed what has surprised him most about the Norwegian striker.

  • Attacking signings by Blues in 2022
  • Argentina international catching the eye
  • Prolific Norwegian proving his worth

WHAT HAPPENED? The reigning Premier League champions freshened up their attacking ranks in the summer of 2022 as Argentina international Alvarez – who is now a World Cup winner – arrived from River Plate and Haaland was snapped up in a £51 million ($63m) deal with Borussia Dortmund. Pep Guardiola has seen Haaland hit 27 goals through 24 appearances, with everyone at the Etihad Stadium impressed by the 22-year-old’s physical and mental ability.

WHAT THEY SAID: Alvarez forms part of that fan club, with the South American telling City’s official website of a talented team-mate: “I always say that beyond being a great player he’s a great person who always tries to help me. As a player he’s been showing how good he is for a while now with all of the goals he’s scored, not just here at Manchester City but also his former clubs.

“What surprised me about him was his mentality, he wants more and more every day, and also for his height he’s so strong, quick, intelligent and decisive in front of goal. He’s decisive for the team so I try to learn from him every day and to see what I can take from him, playing with the best always helps you. I’m yet to play alongside him so I’m trying to prepare myself so that I can play as a lone striker or with him, whatever it may be, and just give my all.”

THE BIGGER PICTURE: The expectation is that Alvarez and Haaland will be deployed alongside one another at some stage, despite City favouring a single striker system, with Guardiola’s side in need of attacking spark as they seek to defend a domestic crown and chase down an elusive European one.

IN THREE PHOTOS:

Julian alvarez manchester city chelse fa cup 08012023@ManCityES

 

Erling Haaland Man City 2022-23Getty Images

 

Erling Haaland Man City 2022-23 [3]Getty Images

WHAT NEXT? City have slipped eight points adrift of leaders Arsenal in the Premier League title race, having allowed collective standards to dip of late, and will be back in action on Thursday when playing host to Tottenham.

 

Debt Exchange: Ofori-Atta tells you the government will look after you and your investments

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Ghanaians’ lives and livelihoods are taken into consideration by the Akufo-Addo administration, according to Finance Minister Ken Ofori-Atta.

He claimed that the way the administration handled the corvid problem demonstrated its desire to safeguard people’s lives and livelihoods.

He said that going forward, the government will continue to take measures to safeguard all Ghanaians.

Mr. Ofori-Atta established a joint technical committee on Wednesday, January 18, to look into the issues brought up by specific bondholders prior to the implementation of the Domestic Debt Exchange Program.

Following a crucial meeting with bondholders on January 18 under the auspices of the Ghana Individual Bondholders Forum (IBF), the minister made this announcement.

The Forum had petitioned the Minister to be excluded from the Programme, which has been scheduled to be rolled out after Tuesday, January 31.

They claimed they have not been adequately engaged by government in an attempt to include their bonds in the Programme.

They accused the government of short-changing them especially as the Programme comes at a time a promise was made there will no haircuts to such investments.

Interacting with journalists after the meeting with the individual bondholders, Finance Minister Ofori-Atta indicated that the Programme is not mandatory and remains voluntary.

He, therefore, urged bondholders to subscribe to the Programme to help the government in efforts to address the economic challenges.

He said “I think the clarity for all of us is that it is a voluntary programme. We have anticipated maybe getting up to 80 per cent which will still put us under the parameter, so we are asking everybody to really join.

“The Forum reiterated their concerns which are legitimate concerns for all individuals and for the country at large. In the same way, in which we met members of the Pensions group, we set up a technical committee and they will be meeting immediately [Thursday January 19], we don’t want to miss the deadline that we have set. We are confident that we will get there.

“The clarity for all of us is that it is a voluntary programme, we have anticipated getting up to 80 per cent which will still put us in the parameter so we are asking everybody to join.

“The government continues to be a government that cares for people, lives and livelihoods as we saw in Covid, we protected and going forward too we will protect but also ensure the Community of the Republic crosses the Jordan safely, that is the challenge we have.”

The committee is expected to begin sitting on Thursday, January 19.

 

 

Zenith Bank is still in possession of a Custodian License, according to the SEC.

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Zenith Bank Ghana Limited voluntarily stopped serving as a trustee for unit trust schemes in 2022, but the Securities and Exchange Commission (SE) has stated that the bank still holds a custodian licence issued by the SEC under the Securities Industry Act, 2016 (Act 929) and is still a significant player in the Ghanaian securities market and banking sector.

In a statement, the SEC claimed that its earlier notification that it had accepted Zenith Bank Ghana Limited’s voluntary termination of operations as a licenced Trustee had been misunderstood.

The SEC has become aware of certain statements that the general public and investing public are using to incorrectly interpret the Public Notice titled PUBLIC NOTICE ON VOLUNTARY CESSATION OF TRUSTEE SERVICES BY ZENITH BANK GHANA LIMITED.

(SEC/PN/001/01/2023), issued by the SEC on Wednesday, 18th January 2023.

“The SEC is hereby issuing this Public Notice to clarify that, as stated in the Public Notice referenced above, Zenith Bank Ghana Limited voluntarily requested to cease operations as a Trustee. Although Zenith Bank Ghana Limited voluntarily ceased its Trustee services for Unit Trust Schemes in 2022, the Bank continues to hold a Custodian license issued by the SEC under the Securities Industry Act, 2016 (Act 929) and remains an active operator in the Ghanaian Securities market and banking industry,” SEC said.

 

 

Massive investment is required for AfCFTA Hub to succeed- Ursula

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In order to make the African continent rank higher in people’s preferences, there must be a conscious and ongoing effort to maintain the progress established with the Africa Continental Free Trade Agreement (AfCFTA) and look forward to additional progress.

According to Hon. Ursula Owusu-Ekuful, minister of communications and digitalization and representative for the Ablekuma West constituency, this is the case.

She thinks increased investment in digitalization will aid in sustainability and assist give Africa a stronger sense of its own identity across the board.

She announced this at the 74th New Year School and Conference of the University of Ghana in Accra on January 18, 2023, with the theme “Digital Technology Development Preparedness for AfCFTA.”

“In order for the Africa Continental Free Trade Agreement AfCFTA to succeed, it must develop and harmonise its member State’s digital policies and regulations, invest in digitalization and support the implementation of digital trade, digital identity and digital economy. We also need a robust cross border electronic/digital payment system. We must develop our own.

“As part of AfCFTA’s mandate to eliminate trade barriers and boost intra-Africa trade, the AfCFTA Hub has been initiated as a single electronic gateway connecting e-government portals, business & consumer apps and supranational platforms into one continental digital ecosystem. By building trust across channels and networks, the AfCFTA Hub will simplify AfCFTA for SMEs and startups, level the playing field in e-commerce & e-logistics so everyone can participate and benefit, minimize fraud, and bind the common market together, delivering prosperity to every fingertip, doorstep and hilltop.”

She added, “The AfCFTA Hub project seeks to digitise collaboration among key national and regional actors to accelerate the implementation of the AfCFTA (Africa Continental Free Trade Agreement). At the heart of the AfCFTA Hub system is the idea of an “AfCFTA Number”, a trusted business identifier for Small & Medium Enterprises (SMEs), startups and other economic actors. The AfCFTA Number is a unique code per business model designed to lead to a Trusted Business Directory of economic actors that are compliant with the necessary regulatory criteria for doing business.”

AfCFTA is Crucial

She indicated that the African Continental Free Trade Area is a crucial framework for Africa member states to develop and harmonise their trade policies including digital policies and regulations, in addition to working together to boost trade on the continent.

“In order to achieve the goal of AfCFTA, creating a business- and investment-friendly policy and regulatory environment, constructing the necessary hard and soft infrastructure, utilising digital technologies to improve service delivery, and establishing public-private partnerships to maximise resources and share expertise are additional ways that governments can promote digital inclusion and eventually the digital transformation of the continent. There are many compelling reasons why African governments and other key stakeholders need to address the digital divide in their countries.

“Failure to do so will lead to these countries falling further and further behind their peers in other parts of the world, with severe consequences for trade and investment performance and social stability. We are pushing forward with AfCFTA with our eyes wide open. Fully aware of past dashed hopes and the pitfalls of globalisation. We are moving forward with AfCFTA knowing full well that without efforts to truly bring down the barriers obstructing integration across Africa, we will get nowhere. We are pressing forward with AfCFTA in the clear knowledge that trade takes capacity and know-how. It is only through digitally enhanced intra African trade that we can achieve a self-sufficient Africa beyond Aid. It seems like a distant dream but it is achievable however, we need to act now.”

She further cited Government’s digitalisation initiative, which has catapulted Ghana to one of the leading digital economies in Africa, as an example of how the government is transforming the economic architecture of the Ghanaian economy ahead of the impending global economic revolution.

 

 

Mahama: Extreme poverty in some areas of Ghana is a result of excessive inflation and price volatility.

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According to the former president John Dramani Mahama, poverty has gotten worse across the nation, particularly in the Savanna, Northern, and Upper West Regions.

He ascribed the predicament on rising inflation and volatile prices.

The Ghana Statistical Service (GSS) reported that the rate of inflation for December 2022 was 54.1%, up from the 40.47% figure for November of the same year.

Housing, Water, Electricity, Gas, and Other Fuels (82.34%), Furnishings, Household Equipment, and Transportation (71.42%), followed by Personal Care, Social Protection, and Other Goods and Services (60.94%), Food, and Non-Alcoholic Beverages (59.71%), and then Housing, Water, Electricity, Gas, and Other Fuels (82.34%).

Mr Mahama blamed the Akufo-Addo for the difficulties in the economy and further said the National Democratic Congress (NDC) was a better manager of the economy than the New Patriotic Party (NPP).

“Back from a trip to the Savanna, Northern and Upper West Regions – and poverty has worsened due to extreme inflation and price volatility.

“The economy is in a near state of collapse; clearly, the NDC has been a better manager of the economy!” the 2020 presidential candidate of the National Democratic Congress (NDC) tweeted on Thursday, January 19.

 

Ghanaian civil society organisations call on private lenders to cancel external debt

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A group of Ghanaian civil society organisations (CSOs) has called on international lenders to cancel Ghana’s debt to make it sustainable.  

The CSOs, in a statement copied to the Ghana News Agency, called for support for Ghana by the G20, and UK, in particular, to stay in default on obligations to all external creditors, who refuse to accept the scale of debt cancellation needed. 

It said in December Ghana announced it was suspending debt payments to external private lenders and had applied for the G20 Common Framework for Debt Treatments.  

Ghana is expected to miss its first payment on a foreign currency bond on 18 January, a $41 million interest payment on a $1 billion bond. 

It said Ghana was the latest country which had defaulted on debt and sought a debt restructuring since the Covid pandemic began, and food and energy prices shot up in 2022. 

The signatories of the statement include the Integrated Social Development Centre (ISODEC), Tax Justice Coalition Ghana, Ghana Integrity Initiative, Caritas Ghana and ActionAid Ghana.  

It is also supported by the African Forum and Network on Debt and Development (Afrodad), Debt Justice, Eurodad, Christian Aid, Oxfam, Public Services International and Third World Network. 

 In the statement the signatories: “welcome Ghana’s suspension of most external debt payments until creditors agree to cancel enough debt to make it sustainable.” 

They point out that the high interest rates private lenders charged mean that they should now be willing to accept losses on their risky bets. 

“Ghana’s lenders, particularly private lenders, lent at high-interest rates because of the supposed risk of lending to Ghana. The interest rate on Ghana’s Eurobonds is between seven per cent and 11 per cent. 

“That risk has materialised with the global Covid pandemic, rising food and energy prices, and increasing global interest rates. Given that they lent seeking high returns, it is only right that following these economic shocks, private lenders willingly accept losses and swiftly agree significant debt cancellation for Ghana.” 

The organisations call on the G20, and UK, in particular, to support Ghana in the debt negotiations: 

“The G20 can help by making clear that Ghana will be politically and financially supported to remain in default on any creditor which does not accept the necessary debt restructuring. Furthermore, Ghana’s foreign currency bonds are governed by English law.  

The UK parliament could update their Debt Relief (Developing Countries) Act to specify that no creditor can sue under English law for more than they would have got if they had taken part in the Common Framework debt restructuring.”  

The statement also calls for increased transparency, including bondholders releasing information on how much debt they own and the price they paid for it.  

The statement said Ghana’s Eurobonds were currently trading at 35-40 cents on the dollar.  

The signatories point out that tackling the debt crisis in many African countries requires “a reformed international financial architecture through the United Nations, which delivers sustainable development finance to all countries.” 

 

 

The EC postpones the Lower Manya Krobo District polls on Tuesday.

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The District Level Elections for the Lower Manya Krobo Municipal has been adjourned by the Electoral Commission, Ghana (EC) after an application for an injunction by two teenagers.

This was contained in a press statement issued on Monday, January 16.

Chairperson Jean Adukwei Mensa said, “The Electoral Commission desires to advise the General Public that the Lower Manya Krobo District Level Elections scheduled for Tuesday, January 17, 2023 has been deferred.”

“This has become necessary as a result of an application for an injunction filed at the High Court in Koforidua against the Electoral Commission.”

The two minors, Michael Tetteh and Angel Agyeman, who recently turned 18 and asserted that the EC had infringed upon their constitutional right to vote in the upcoming district level elections in accordance with Article 33 of the 1992 Constitution, alleged the EC had done so.

Additionally, the teen applicants claimed the Commission did not hold a registration process that would have allowed them to register after they turned 18 years old.

As a result, they submitted a request for an interlocutoryinjunction on the polls.

The High Court gave the order restraining the Electoral Commission and its agent from conducting the elections until the final determination of the case.

Background
A dispute over alignment of six electoral areas in the Lower Manya Krobo municipality in the Eastern Region and Dangme West District in the Greater Accra Region delayed the district elections in 2011.

The Supreme Court passed a verdict to maintain Akuse as part of the Eastern Region.

The litigation has since changed the electoral calendar for the assembly and unit committee members’ election in the Lower Manya Krobo Municipality.

This year, the assembly elections were supposed to be held on Tuesday, January 18 but the application for an interlocutory injunction against the EC by the teenagers would delay the elections until after the determination of the case.

The EC would have to set a new date after the case.

The Lower Manya Krobo Municipal Assembly is made up of 31 elected members.

 

 

Economics Dellino Employment

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Dellino Exclusive, a Ghanaian company dealing in Interior goods in  partnership with 17 Spanish companies has at the beginning of its operations employed 50 workers assuring more will follow in the coming days.

In their bid to provide quality service to Ghanaian Estate Developers, Individuals and the hospitality industry, they would also train Ghanaian Artisans to be part of their supply chain.

“The current number of employees is just for the beginning and as we grow more people will be engaged.”

Mr Edmond Delle Junior, Chief Executive Officer of Dellino Exclusive said this in an exclusive interview with the Ghana News Agency after their official launch in Accra.

The Multi-million Cedi showroom at East Legon is a three-storey building accommodating all the companies.

Mr Delle said after the training programmes, they would ensure that standards were maintained to use Ghana as the commercial conduit for the rest of Africa.

He gave the assurance that Ghana would in the next four years start the production of those goods and called for support to survive in the competitive world.

Mr Tsornam Akpeloo, Greater Accra Regional Chairman of Association of Ghana Industries commended Dellino Exclusive and partners for the venture and advised to keep to standards that would make them distinctive.

Earlier at the Launch, Professor Edmond Delle, Founder of Rabito Clinic called on Dellino and partners to exhibit high level honesty that could catapult their business to international acceptable levels.

Dellino and its partners would provide services in bedroom furniture, kitchen furniture, bathroom accessories, Dinning furniture, ceramics and quality porcelain tiles.

Other goods include: different lighting systems, different types of doors and windows, locks cabinets, shelves, coffee stations. Pub stations library materials and reading and learning furniture.

So far companies displaying their wares included Angel Cerda, Alexandra, Thermia Barcelona, Inbani, DO A and ASCALE PORCELAIN.

Although they do not have manufacturing centres in Ghana yet, they promised to deliver the goods in the shortest possible time and reminded that they could produce the goods according to customer specifications.

The showroom was officially launched on 13 and 14 is expected to attract individuals, Estate Developers and businesses that would mostly need the items in the coming days.

 

Electricity and water tariffs up by 29% and 8% for Q1 of 2023

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Regulator of utilities in Ghana, the Public Utilities Regulatory Commission (PURC), has increased the tariffs for water and electricity for all consumer groups for the first three months of 2023.

With effect from February 1, electricity tariff would be increased by 29.96 per cent, while that of water would be increased 8.3 per cent, PURC announced in its quarterly adjustment for first three months of 2023.

However, the Commission approved varying rate adjustments, including some reductions for selected industrial and commercial consumers as part of the ongoing restructuring of the existing water rate structure.

Per the new rates, lifeline customers who were paying a tariff of 41.90 pesewas per kilowatt hour for electricity, would now pay 54.46 pesewas per kilowatt hour, while that of residential customers would increase from GHp/kwh89.04 to GHp/kwh115.72.

Special load customers would pay electricity tariff of between GHp/kwh96.86 to GHp/kwh343.06.

For water, the tariff for residential customers increased from GHp/m3 400.16 to 433.38; sachet water producers, GHp/m3 1504.45 to GHp/m3 1800.00, with public institutions and government departments seeing an increase from GHp/m3 873.55 to GHp/m3 946.07.

Meanwhile, the water tariffs for bottled water and drink producers were reduced from the previous GHp/m3 4595.84 to GHp/m3 3000, while that of industrial service also went down from GHp/m3 1351.45 to GHp/m32000.

The Commission said it considered exchange rate of the Cedi against the US Dollar, inflation, generation mix and the weighted average cost of natural gas before arriving at the new tariffs, while being mindful of the current difficult economic circumstances.

It explained that there was the need for prevention of extended power outages and its adverse implications on jobs and livelihoods with minimising the impact of rate increases on consumers.

PURC also explained that there was the need to avoid the potential for “catastrophic” outages for Ghana, hence, the new rates, which would last for January to March 2023.

It noted for example that since the announcement of the major tariff in August 2022, there had been a depreciation of the Cedi against the US Dollar and other major currencies.

Additionally, the weighted average inflation figure used for the major tariff had seen a four-fold increase, which, together with exchange rate movement had negatively affected the ability of the utilities to purchase critical inputs required for their operations, PURC said.

The Commission increased tariffs for electricity and water by 27.15 per cent and 21.55 per cent respectively in September last year in its major tariff review.

At the time, the Ghana Water Company Limited (GWCL) had requested for a 334 per cent tariff increment, while the Electricity Company of Ghana (ECG), called for a 148 per cent increment.

 

‘Let’s Do It Ghana’ trains youth on making reusable bags 

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Let’s Do It Ghana, an Environmental Non-Governmental-Organisation (NGO), in partnership with Reusable Bags Gh, has trained 10 young people in Accra on how to assemble and sew reusable bags to make some income while protecting the environment. 

   The participants, comprising nine females and a male, received start-up kits, including sewing machines, irons, scissors and other accessories, valued at Ghc20,000.00, to facilitate their work. 

During the five-day training, they were also taught how to set up businesses, maintain good relations with their customers, and sustain and expand their trade. 

Mrs Kate Opoku, the Country Lead of Let’s Do It Ghana, said the training formed part of a “Community for Plastic Reduction and Recycling Project” launched by the NGO in July, this year, at Nima and Maamobi, suburbs of Accra. It was funded by Afri-Plastics Challenge.  

The project aimed at reducing the littering of plastic waste, discouraging single-use plastics, encouraging reusable alternatives and segregation of plastic wastes for recycling.  

Mrs Opoku said her organisation had been sensitising community members, market women and shoppers to switch from using single-use plastics, especially polythene bags, to reusable alternatives. 

“We, therefore, trained the participants on how to sew these bags in order to ensure that they are easily available for shoppers to access and use for shopping,” she said.  

“Apart from helping to reduce the use of plastic products to prevent plastic pollution, this intervention will also create job opportunities for participants to improve their livelihoods.”  

Meanwhile the NGO had also trained about 200 women to make reusable bags using low-cost materials like T-Shirts and clothing. 

   Mr Bismark Osiakwa, the Founder and Manager, Reusable Bags Gh, lauded ‘Let’s Do It Ghana’ for the initiative, which would contribute to reducing plastic pollution in the country.  

 He said he was impressed with the commitment and enthusiasm of the participants towards the project and expressed his willingness to engage some of them at his factory to increase production. 

  Sharifa Mohammed, a participant, on behalf of her colleagues, commended the NGO for the opportunity and promised they would use the knowledge and skills acquired to produce more bags to reduce plastic pollution and generate income.  

 Let’s Do It Ghana is the organisers of the World Cleanup Day in Ghana. It is an environmental NGO in charge of educating and raising awareness on plastic pollution and patronage of reusable materials instead of plastics to keep the environment clean.   

 

 

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