According to Mr. Samuel Okudzeto Ablakwa, a member of the 8-member committee appointed by the Speaker of Parliament to look into the accusations made against the Finance Minister, Mr. Ken Ofori-Atta is the only Minister of Finance in Ghana to waste an astounding GHS12.4 million since the nation began producing oil in commercial quantities.

Mr. Ablakwa, who is also an MP for North Tongu, claimed that because Ghanaians are sick of his irresponsibility, he must resign.

“For the first time since Ghana started commercial oil production 10 years ago, embattled Ken Ofori-Atta becomes the only Finance Minister to squander a staggering GHS12.4million (GHS12,475,426.01) of our oil revenues to pay a judgment debt. Tired of his recklessness!” he tweeted on Monday November 14.

For the first time since Ghana started commercial oil production 10 years ago, embattled Ken Ofori-Atta becomes the only Finance Minister to squander a staggering GHS12.4million (GHS12,475,426.01) of our oil revenues to pay a judgment debt.

Tired of his recklessness!#KenMustGo

— Sam Okudzeto Ablakwa (@S_OkudzetoAblak) November 14, 2022

He added “For the avoidance of doubt, no Ghanaian Finance Minister has ever dared to touch our precious oil revenues for judgment debt. Consistent with dangerous Ken, this reckless conduct was carried out without Parliamentary approval.”

The Speaker of Parliament Alban Bagbin set a committee to investigate the allegations made against the Mr Ofori-Atta by the Minority in Parliament for which they filed a motion to get him removed from office.

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The 8-member committee, co-chaired by Dr Dominic Ayine and KT Hammond, lawmakers for Bolgatanga East and Adansi-Asokwa respectively, has within seven working days to complete its work and submit the report

The Speaker’s ruling came after the Deputy Majority Leader in Parliament Alexander Afenyo-Markin challenged the motion of the Minority on the basis that the Finance Minister will suffer injustice if the House goes ahead with the application.

Mr Afenyo-Markin indicated that the claims by the Minority were criminal in nature upon a proper scrutiny.

To that end, he called for a fair hearing for the Minister.

The Minority accused Mr Ofori-Atta of, among other things, personally benefitting from every loan that the government takes.

But the Effutu Member of Parliament said “these matters, upon a proper scrutiny, are criminal in nature. The Minister should be given a fair hearing.”

“If we go ahead with the application we will be doing a lot of injustice to our colleague. If this application is allowed it will be injustice and unfairness, the Minister wouldn’t have been given adequate time to prepare for his defense,” he stressed.

Justifying the motion to get the Finance Minister removed, the Minority Leader Haruna Iddrisu said President Akufo-Addo was not ready to sack the Minister.

Therefore, he appealed the Majority Members of Parliament to support the move to get him removed.

In his ruling on this matter, Speaker Bagbin said after announcing the formation of the committee that “The evidence will be placed before the committee. The Minister will have the opportunity to defend himself.

“A report will be presented to the House, and we will debate that report.”

Ghana has renewed its strong commitment to promote clean cooking, which is based on its 2030 target of having 50% of its people have access to LPG, according to Energy Minister Dr. Matthew Opoku Prempeh.

On November 10th, Dr. Prempeh delivered a speech at a clean fuels solutions for cooking event hosted by the Kingdom of Saudi Arabia as a part of the 2nd Middle East Green Initiative, which is taking place concurrently with COP 27 in Sharm El Sheikh, Egypt.

His Royal Highness Mohammed Bin Salman, the Saudi Arabian Crown Prince, served as the event’s patron.

According to the Minister, Ghana’s plan for clean cooking entails increasing the productivity of the manufacture of cooking fuels, their delivery to markets, their value addition, and the promotion of effective end-user technologies.

According to him, Ghana would use less than 30% of firewood and charcoal for cooking by the year 2030, reducing our nation’s overall carbon footprint.

He continued by saying that the nation will also supply LPG for commercial catering, particularly in schools and other government facilities, and that access to LPG for domestic usage would rise from 36.9% to 50% by 2021.

The Minister who is also Member of Parliament for Manhyia South said as the demand for clean cooking solutions is growing, there is the need to turn attention to the efficient exploitation of the natural resources that are required for the clean cooking ecosystem.

“We need effective coordination and transparent accounting systems to unlock the enormous carbon financing opportunities and drive investment into the clean cooking sector” he said.

The current disruption in the global supply chain due to COVID-19 and other geopolitical challenges, according to the Minister makes it imperative to bring clean cooking interventions closer to markets. He therefore called for the need to develop local capacity along the entire value chain to support the catalytic growth of the clean cooking industry globally.

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“Ghana is building capacity through a number of technical cooperations including the GIZ-TVET, the Senior High Schools Renewable Energy Challenge which have triggered interest in research and development and innovation in renewable energy and clean cooking solutions for the Ghanaian market and beyond. With support from the World Bank, Ghana is developing the National Clean Cooking Strategy and Investment Prospectus to provide the framework for the promotion and development of the industry” he said.

He continued “Ghana with support from the World Bank successfully launched the result-based National LPG Promotion Programme on September 6th, 2022. The objective of the programme is to provide government interventions that would accelerate the switch from unclean fuels to LPG in a bid to achieve the goal of 50 per cent access by 2030. Government will distribute about 2million LPG stoves and install LPG cooking systems in institutions that cook on a large scale under this programme. These interventions complementing the Cylinder Recirculation Model will enable Ghana reach its targets aforementioned”

Dr. Prempeh indicated Ghana’s readiness for cooperations and partnerships to scale up Ghana’s National LPG Promotion and Improved Cookstoves Promotion Programmes.
Dignitaries at this function included Dr. Baomintsvotse Vahinals, Chief of Staff at the Office of the President of Madagascar, H.E. Ibrahim Yacoubou, Minister for Energy and Renewable Energy of Niger, H.E Sophie Gladima, Minister for Energy and Petroleum of Senegal and a host of other dignitaries on the African continent

Dr. Amos Anim, a financial analyst, has urged Ghanaians to commend Bank of Ghana (BoG) Governor Dr. Ernest Addison for the wide range of actions the central bank has taken, particularly its monetary policy actions that have ensured that inflation doesn’t spiral out of control and that there is enough liquidity in the system.

“Some politicians don’t understand the current economic problems. The economic situation would have been three times worse without the Bank of Ghana’s interventions, he wrote in a report.

“The current measures being implemented by the Bank of Ghana are yielding results,” Dr Anim stressed.

He added “The decision to increase the policy rate in the last MPC meeting was apt.

“I am also aware of the recent clamp down to flush out the activities of the black market operators. This is part of measures to ensure a stable currency. Let’s rather support and encourage the Governor and not to make statements that tend to vilify him. Despite the current situation, l haven’t heard of any financial institution complain of liquidity challenges.”

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The BoG has ensured that there is liquidity in the system. Mr Anim further indicated.

At a recent meeting with the Universal banks and the Association of Forex Bureau operators, the Governor promised to ensure that there is liquidity until the IMF programme kicks in. ”

“Dr Anim was reacting to a statement by the Member of Parliament for Bolgatanga Central, Isaac Adongo, who accused the Governor for contributing to the current economic situation. ”

“Inspite of the crash of the Pound, the Bank of England Governor is still at post.He has the support of the populace and key actors in the UK economy. ”.Has the Bank of England Governor been asked to resign?

“I think we shouldn’t politicise the situation and support the BoG Governor to succeed. ”