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Parliament to summon PURC and ECG over utility tariff increments

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Parliament has indicated that the management of the Public Utilities Regulatory Commission (PURC) and the Electricity Company of Ghana (ECG) will appear before the house to answer questions on why electricity tariffs should be increased.

According to the Chairman of the Mines and Energy Committee of Parliament, Samuel Atta Akyea, PURC and ECG must explain the rationale behind the recent increment.

On Monday, January 16, 2023, the PURC increased electricity and water tariffs by 29.96% and 8.3% respectively.

The commission said the new tariffs, which are for the first quarter of the year will take effect from February 1, 2023.

The PURC acknowledged the prevailing economic hardship in the country but said that the increments became necessary for the sustainability of the water and electricity companies and uninterrupted service provision.

But Samuel Atta Akyea said PURC will be summoned to explain to Parliament why it increased tariffs.

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Samuel Atta Akyea

Speaking to Accra-based Citi FM, he said “They [PURC and ECG] should be able to explain to us why they think despite these difficulties, there should be an increase. I have not seen any rationalization for this increase, so I want to keep quiet until we as a committee find out from them what really is going on. As members of the committee, we do not have the underpinnings of this arrangement. So we need to call them, so we sit and engage them.”

“Some people are enjoying electricity at the expense of others that is why their books do not look good. We need to look at some of these things because in trying to come out of the doldrums, you don’t squeeze people too much. Rather, you do not sit down for people to enjoy free electricity. Go ahead and fix it.”

In December 2022, the PURC started processes to adjust tariffs to reflect changes in macroeconomic variables such as inflation and exchange rate.

Dr. Eric Obutey, Head of Research and Cooperate Affairs at the PURC, said the cedi’s rate against the dollar and inflation are some of the factors we try to correct using the quarterly tariff adjustments. We should be expecting an announcement before the close of 2022 because it is supposed to take effect from January 1, 2023.

In August last year, the regulatory authority announced a 27.15% increase in tariff for electricity and 21.55% for water.

The increment took effect on September 1, 2022.

PURC, however, called on the public to support utility companies to recoup revenues by reporting illegal connections.

Source:pulse.com

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BoG selects Dr Joseph France as advisor to UMB

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In a statement, the Central Bank stated that it intends to support UMB's recapitalization efforts as well as ensuring the proper implementation of governance changes.

The Bank of Ghana (BoG) has nominated Dr. Joseph O. France as an advisor to Universal Merchant Bank LTD (UMB).

The appointment, which took effect on March 25, 2024, is in line with Section 101(1) of the Banks and Specialised Deposit-Taking Institutions Act of 2016 (Act 930).

Banks have until September 30th, 2023, to submit recapitalization plans to meet the minimum capital requirement of GH¢400 million.

In a statement, the Central Bank stated that it intends to support UMB’s recapitalization efforts as well as ensure the proper implementation of governance changes.

“His expertise will be instrumental in safeguarding the interests of depositors, shareholders, and the general public. Importantly, it is essential to note that unlike an Official Administrator, Dr. France will not assume the powers, responsibilities, or duties of UMB’s existing management team.

“Under Act 930, Dr. France will have the privilege of attending meetings of UMB’s Board of Directors and Committees, although he will not participate in voting. His primary focus will be on providing strategic guidance and ensuring compliance with regulatory requirements,” portions of the statement noted.

Meanwhile, BoG has stated that UMB is fully functioning and available for business under the current management team.

It advised depositors and customers to remain confident in UMB’s services.



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Ghanaian fibre optics inventor, Dr Thomas Mensah passes on

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The Adisadel College Old Boys Association's official X account also announced Dr. Mensah's death.

Dr. Thomas Mensah, a renowned Ghanaian-American scientist and developer of fibre optics, died at the age of 74.

According to a statement published by the family on Thursday, March 28, the renowned innovator, who played a key role in revolutionising telecommunications and technology, died of sickness at Kumasi Catholic Hope Exchange Hospital.

“Dr. Thomas Mensah died on March 27, 2024, in Kumasi Catholic Hope Exchange Hospital. Dr. Mensah died from a brief illness.


“The family hereby informs the wider public of the unfortunate event. “Dr. Thomas Mensah died at the age of 74,” the announcement added.

The Adisadel College Old Boys Association’s official X account also announced Dr. Mensah’s death.

“He was known on the global stage for his significant contributions in the field of fibre optics and nanotechnology.”

Dr. Mensah’s ideas have had a significant influence on global communications networks, making substantial contributions to the field of technology.

His major innovation in fibre optics enabled high-speed data transport, revolutionising several sectors and contributing to the digital age’s success.

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Good news for teachers: 1 teacher, 1 laptop

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His remarks came after the Ghana National Association of Teachers (GNAT) expressed reservations about the Ghana Smart School Project, which debuted on Monday, March 25, 2024. According to GNAT, since 2021, when the government launched a similar scheme for teachers dubbed as the "1 Teacher 1 Laptop" project, over 100,000 instructors in public schools have yet to receive theirs. However, Dr. Adutwum, a teacher himself, told teachers that his Ministry has their best interests at heart and will never fail them. He indicated categorically that the instructors will receive their computers by the end of June.

Teachers in public schools will receive the laptops promised by the government in 2021 by the end of June 2024.

Dr Yaw Osei Adutwum, Minister of Education, said this on Adom FM’s morning broadcast, Dwaso Nsem, on Tuesday.

“I can tell you that the instructors will receive their computers by the end of June, as promised. They’ve already met with the Ghana Education Service (GES) and are figuring out how to get their laptops,” he said.

His remarks came after the Ghana National Association of Teachers (GNAT) expressed reservations about the Ghana Smart School Project, which debuted on Monday, March 25, 2024.

According to GNAT, since 2021, when the government launched a similar scheme for teachers dubbed the “1 Teacher 1 Laptop” project, over 100,000 instructors in public schools have yet to receive theirs.

However, Dr. Adutwum, a teacher himself, told teachers that his Ministry has their best interests at heart and will never fail them.

He indicated categorically that the instructors will receive their computers by the end of June.

Speaking about the Ghana Smart School Project, Dr. Adutwum emphasised its significance as a component of the Free Senior High School (SHS) programme, which aims to improve the quality of teaching and learning in public second-cycle schools.

He stated that these tablets, packed with necessary textbooks and previous questions, will be great instructional aids, improving students’ access to information critical to their academic endeavours.

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