AGC crisis not over – Rawlings
Parliament thanks “Times”…for exposing MPs deal
NDC is doomed if we lose elections – Rawlings
Akufo Addo on running mate…NPP should not chose an Akan
NPP promises to re-introduce housing scheme for soldiers
Shock…Sam Jonah and New York Stock Exchange could not save AGC
AGC crisis not over – Rawlings
The Daily Graphic in its top story quotes President Jerry Rawlings as noting that Ashanti Goldfields Company (AGC) Limited faces tough and challenging times, which it must be helped to get over.
The Graphic says that the President stressed that until September, this year, when the reprieve granted the AGC expires, and there is the need to put in place the necessary guidelines to enable the company’s management to operate to boost the fortunes of AGC. President Rawlings is reported to have made these observations in an interview at the Castle, Osu yesterday, during which he expressed serious misgivings about the manner in which a section of the media have misrepresented the problem of the AGC.
“Instead of the true picture of a company whose extreme indebtedness and serious dilution of the value of its shares have been the result of mismanagement, they sought to make it appear as if AGC’s problems were simply the results of a so-called personality conflict”, he is quoted as saying.
The Graphic says the President, however, said he is grateful that the situation, which put AGC on the brink of total collapse, has been averted.
GRi../
Parliament thanks “Times”…for exposing MPs deal
In its lead story, the Ghanaian Times reports that the leadership of Parliament has ordered an immediate investigation into the “Times” story of yesterday headlined: “Mps rent out duty houses”.
The Times says that a statement signed by Dr Kwabena Adjei, Leader of the House and Minister of Parliamentary Affairs, said “the leadership of the House of Parliament wishes to thank the ‘Ghanaian Times’ for its report entitled “Mps Rent Out Duty Houses”, appearing on the front-page of its Tuesday, February 22, and inform the general public that it has ordered an immediate investigation into the matter”.
“Meanwhile the House leadership wishes to indicate…that the principle has been understood that houses allocated by Parliament to Members of Parliament, are to be used by them only, in connection with their official duties as Members of Parliament”, the Times quotes the statement as saying. Yesterday’s ‘Times’ story said that a number of MPs had ‘commercialised’ their duty houses.
While some have rented out theirs at very exorbitant rates, other have ‘temporary allocated’ them out for business and other commercial purposes.
GRi../
NDC is doomed if we lose elections – Rawlings
The Ghanaian Chronicle writes on its front-page that in an apocalyptic sermon that betrayed the latest fears within the NDC circles, President Jerry John Rawlings has foretold doom of the followers of the NDC if the party should lose the next elections. “Danger hangs around the necks of the party followers in the event of the fall of the party”, he is quoted as warning. But the fall of the party can only happen because of internal squabbles within the NDC, the President is reported as stressing.
The Chronicle quotes him as saying, “as far as I am concerned, the opposition is not a problem, neither is the cheap press but rather the disunity and back-biting, the pull-him-down and undermining in the NDC. This is where the problem lies. Certainly, not with those NPP people”.
The paper says that the President, continuing his presage of doom, cautioned his supporters to “check where we are coming from. If we joke, someone will sneak between us and jump into power”. President Rawlings was addressing the chiefs and people of Asesewa in the Eastern Region, where he commissioned an electrification project in the town.
GRi../
Akufo Addo on running mate…NPP should not chose an Akan
In a front-age banner headline story, the Dispatch says that with the NDC’s virtual nomination of Vice-President J.E.A. Mills as its presidential candidate for the 2000 elections, the attention of the political world will now be focused on the running mates of the presidential candidates of the NDC and the NPP.
The paper today, decides to take a look at the NPP and issues surrounding the choice of a running mate for the party’s presidential candidate, Mr J.A. Kufuor. According to the Dispatch, there have been strong indications that the choice of Mr Kufuor’s running mate should be based more on ethnic balance than ability.
The paper says that while there are sizeable sections of the party, who think that the choice should come from either one of the three Northern Regions or the Volta Region, there is a growing number of supporters, who think that a running mate from the Akan ethnic group should be chosen, to make the NPP presidential ticket fully Akan-based.
The Dispatch says that there is no doubt that Nana Akufo Addo, the NPP Member of Parliament for Abuakwa and a prominent barrister, is one of the leading members of the party.
The paper says that in his view his choice of a running mate would be the need to have a broad national appeal. In that regard, since he is an Akan, there would have been the need to balance the ticket with a non-Akan.
GRi../
NPP promises to re-introduce housing scheme for soldiers
The Free Press reports in a screaming front-page headline story that then NPP is committed to comfortably housing Ghanaian soldiers on retirement. The party, therefore, plans to re-introduce the military housing loan scheme if it forms the next government.
The paper says that President J.J. Rawlings’ PNDC government scrapped the scheme originally introduced by the government of the late General I.K. Acheampong. The Free Press, attributing the statement to Mr Joseph Darko-Mensah NPP Member of Parliament for Okaikoi North constituency, says the MP was speaking at a rally at Abeka, a suburb of Accra last weekend.
Mr Darko-Mensah is said to have explained that under the scheme, the soldiers were granted soft loans to enable them to build houses to live in after retirement from active service. “If President Rawlings fails to reinstate the scheme, the NP would do so when in power”, he quoted as saying.
The Free Press says that Mr Darko-Mensah told President Rawlings to keep his promises to American President Bill Clinton and Queen Elizabeth of the United Kingdom that he would supervise a free and fair election after his term of office expires this year.
GRi../
Shock…Sam Jonah and New York Stock Exchange could not save AGC
The Weekly Insight says that the crisis in the Ashanti Goldfields Company (AGC) Limited has proved both the Government of Ghana and the board of the company’s wrong in their calculations and indicated that privatisation is not a magic wand.
The paper notes that since the government sold a substantial part of its shares in the AGC, the company’s capitalisation has reduced from $2 billion to only $250 million. It quotes sources close to the company as saying that it needs an inflow of at least, $250 million to save it from total collapse.
The Weekly Insight says that the problem is that not many banks have sufficient confidence in the AGC and even if the company managed to attract a loan of $250 million, it could only aggravate the situation by further reducing its capitalisation.
It says some of the minor shareholders, including Adryx Mining and Metals Limited and the Government of Ghana are opposed to the AGC’s moves to secure a bank loan for re-capitalisation.
The Weekly Insight says that these shareholders appear to favour the sale of AGC’s major stake in its Geita gold project in Tanzania to raise the much-needed funds for re-capitalisation.
GRi../